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Bloomberg Even as the coronavirus pandemic continues to rage in many corners of the world, places that have successfully vaccinated a substantial share of the population are plotting the next step: how to let people start traveling again, whether for beach vacations or board meetings. By early summer, countries of the European Union and beyond aim to issue vaccine passports ...

Bloomberg London’s Heathrow airport will be allowed to increase airline fees on a limited basis to help it ride out the coronavirus crisis, the UK’s aviation regulator said. Heathrow can claw back 300 million pounds ($416 million) after submitting an application to recover 2.6 billion pounds, the Civil Aviation Authority (CAA) said. While its full request will be considered in ...

Bloomberg Australia is banning all flights from pandemic-ravaged India until at least May 15 as the South Asian nation battles what PM Scott Morrison described as a “terrible crisis.” In a bid to ease pressure on Australia’s system of mainly quarantining returned residents from overseas in inner-city hotels, Morrison had already announced a 30% cut in flights entering from India. ...

Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. ...

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in ...

Bloomberg Interjet shareholders unanimously voted to approve a filing for bankruptcy protection, a move that would enable the Mexican airline to resume payments to employees that have been frozen for several months. Alejandro del Valle, who took a 90% stake in the carrier late last year, led discussions over the filing with former majority owners and founders Miguel Aleman Magnani ...

Bloomberg HSBC Holdings Plc posted its best quarter since the pandemic began as an improving economic outlook drove optimism about the ability of borrowers to repay loans and its strategic reset to Asia remained on track. First-quarter profit more than doubled as $400 million of loan loss reserves were released, spurred by the rollout of vaccination programs in markets like ...

Bloomberg Global banks’ losses related to the collapse of Bill Hwang’s Archegos Capital Management topped $10 billion after Nomura Holdings Inc and UBS Group AG disclosed more than $3.7 billion of combined hits from the collapse of the US family office. The Japanese bank booked about 245.7 billion yen ($2.3 billion) of losses in the three months ended March 31, ...

Bloomberg Shares of Kotak Mahindra Bank Ltd were the most hit among peers after the Reserve Bank of India (RBI) capped founder’s tenure as chief executive officer of a bank to 15 years. That gives the world’s wealthiest banker Uday Kotak less than three years to find a successor, according to a note by Suresh Ganapathy, an analyst at Macquarie ...

Bloomberg Citigroup Inc’s decision to exit retail banking operations in 13 markets outside the US including China was crucial for its ability to redeploy capital to areas where it can make bigger profits, according to an internal memo by the bank’s Asia-Pacific chief. “This was not about any specific markets or the attractiveness of individual consumer markets,” Peter Babej said ...