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  Bloomberg The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some intrepid investors. The pain points are all too obvious: Stocks have fallen below their average valuations of the past 17 years. Local-currency bond yields have soared through a range that’s held since the 2008 crisis. Spreads on dollar …

Bloomberg Even as the S&P 500 narrowly avoided plunging into a bear market, Morgan Stanley strategists say it’s too early to turn optimistic on stocks. “Equity clients are bearish, a necessary condition for a sustainable low, but an insufficient one,” strategists led by Michael Wilson wrote in a note on Monday. “Given the risks to growth are just emerging, it’s …

Bloomberg India will probably borrow the entire 1 trillion rupees ($12.9 billion) that the government will forgo as revenues due to a cut in gasoline and diesel levies, according to people familiar with the matter. Higher collections from the goods and services tax (GST) as well as personal income taxes will be neutralised by additional spending on food and fertiliser …

  Agencies China saw a steady increase in its natural gas output in April, official data showed. The country’s natural gas output was 17.7 billion cubic meters in April, up 4.7% from a year ago, according to the National Bureau of Statistics. In the first four months of this year, China reported a total of 74.7 billion cubic meters of …

Bloomberg Hours after President Vladimir Putin announced Russia’s invasion of Ukraine, Aeroflot PJSC’s top executives gathered at the airline’s headquarters down the street from the Kremlin. In the official part of the surreal board meeting, they discussed the flagship Russian carrier’s budget without mentioning the war or any risks it might create, according to two people familiar with the proceedings …

Bloomberg Airbus SE’s corporate-jet division is more optimistic about prospects for this year, even as the Russia-Ukraine conflict and Chinese coronavirus lockdowns weigh on sales. The European planemaker had a slow couple of years for orders for its newest business-jet model during the Covid-19 pandemic, with almost all work travel curtailed. The corporate version of the A220 was launched in …

  Bloomberg Jet Airways India Ltd, the erstwhile bankrupt carrier undergoing a court-monitored resolution, is expecting to return to the skies in the quarter to September as competition in India’s cutthroat air travel market intensifies with new entrants. Jet Airways got its flying license from the Directorate General of Civil Aviation (DGCA) after successful proving flights — or test flights …

  Bloomberg After almost four decades spent targeting London’s office workers with upscale fare like salmon and avocado protein pots, Pret A Manger Ltd is taking aim at a different clientele: suburban Brits facing the worst cost-of-living crisis since the Thatcher era. As the sandwich chain expands across the UK, where prices are climbing at the fastest pace since 1982, …

  Bloomberg China Eastern Airlines Corp outlined several actions it needs to undertake before operating Boeing Co’s 737 Max again, including modifications to the aircraft and further pilot training, damping hopes the narrowbody will return to Chinese skies any time soon. Li Yangmin, vice chairman of the Shanghai-based state-owned carrier, indicated to investors at a virtual briefing that the airline …

Bloomberg J M Smucker Co is recalling some Jif peanut butter products sold in the US and Canada because of potential Salmonella contamination. The Orrville, Ohio-based company expanded its recall of the popular brand of peanut butter products to Canada, a day after announcing a voluntary recall in the US. Consumers that have various crunchy, creamy and squeeze products should …