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Bloomberg Uganda’s planned oil pipeline will result in more than 12,000 families losing their land and the development threatens sensitive ecosystems, according to research by Oxfam International. The East African nation’s crude industry has “opaque processes” to compensate affected communities, the London-based charity said in a statement. Oil majors and the state should address the issues before the next stage ...

Bloomberg Singapore Airlines Ltd is eliminating about 4,300 jobs, or 20% of its workforce, as the coronavirus outbreak devastates the aviation industry. The cuts will be made at Singapore Airlines and its SilkAir and Scoot units. Discussions are underway with unions and arrangements will be finalised as soon as possible, the carrier said in a statement. “Having to let go ...

Bloomberg Two top Boeing executives have told US government investigators that the design process for the 737 Max was not flawed, despite the plane suffering two fatal crashes, according to the Wall Street Journal. Keith Leverkuhn and Michael Teal, who oversaw the development of the aircraft, didn’t concede any procedural mistakes, according to the article, which cited transcripts of closed-door ...

Bloomberg A Colombian court temporarily blocked a $370 million government loan to Avianca Holdings SA after a citizen expressed concern about a lack of guarantees. The Cundinamarca Administrative Tribunal granted an injunction to suspend disbursement after a motion filed by a citizen against the Finance Ministry, the presidency and the airline said the loan, part of its debtor-in-possession financing, may ...

Bloomberg Thai Airways International Pcl, the nation’s flagship carrier, faces one of its biggest challenges in its 60-year history, with a local court set to rule on its debt restructuring on Monday. The Central Bankruptcy Court will decide whether the airline can proceed with its plan to rehabilitate its debt. The company, which had total liabilities of 332.2 billion baht ...

Bloomberg Authentic Brands Group LLC is in discussions to join a planned rescue of JC Penney Co, Business Insider reported, citing two people familiar with the matter. Mall landlords Simon Property Group Inc and Brookfield Property Partners LP agreed to buy the bankrupt department store in a deal valued at $1.75 billion. The people didn’t disclose whether Authentic Brands would ...

Bloomberg Financing to back the potential buyout of UK grocery firm Asda Group Ltd by a private equity sponsor could total just under four billion pounds ($5 billion), according to people familiar with the information. Three bidders are still involved in the process after final bids were submitted on Monday, Apollo Global Management, Lone Star Global Acquisitions Ltd, and TDR ...

Bloomberg British mortgage lenders are beginning to batten down the hatches for an oncoming spike in unemployment. HSBC Holdings Plc, Barclays Plc and Natwest Group Plc have tightened restrictions on home loans for risky borrowers as officials unwind pandemic-support efforts. Then there’s the renewed prospect of a no-deal Brexit, threatening to deepen what’s already worst recession in centuries. By moving ...

Bloomberg Deutsche Boerse AG submitted an offer for exchange operator Borsa Italiana SpA, pitting it against a joint bid from Italian state-backed lender Cassa Depositi e Prestiti SpA and France’s Euronext NV. The German exchange said in a statement that it was “offering a high value for the future growth and development of an autonomous Borsa Italiana Group, thereby strengthening ...

Bloomberg Citigroup Inc. is looking to keep court proceedings on track in its attempt to recover more than $900 million the bank says it accidentally transferred to Revlon Inc. lenders last month. A lawyer for the bank asked US District Judge Jesse Furman in Manhattan to deny a request by some of the lenders to postpone trial in Citigroup’s suit ...