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Bloomberg Extraction Oil & Gas Inc filed for bankruptcy with plans to hand ownership to its creditors, becoming the latest producer to succumb to the energy industry’s slump. Some of Extraction’s noteholders agreed to swap unsecured debt for equity, according to a statement. The Denver-based company sought court protection in Delaware after skipping a May 15 interest payment on its ...

Bloomberg South Africa’s Department of Mineral Resources and Energy took another step towards building a new nuclear-power program. The department issued a request for information for 2,500 megawatts of capacity, the ministry said in a statement. Submissions will close on September 15. “This will enable the department to gain insight into the cost of the program, possible ownership structures, cost ...

Bloomberg EasyJet Plc said a travel restart in the UK is lagging behind the rest of Europe because a 14-day quarantine for people arriving in Britain puts off would-be travellers from flying. The Luton, England-based carrier is seeing strong demand away from its home market, Chief Executive Officer Johan Lundgren said in a Bloomberg TV interview on Monday. EasyJet, which ...

Bloomberg German airline Condor will cut about 15% to 25% of its staff in an attempt to slash operating costs amid the ongoing coronavirus crisis, CEO Ralf Teckentrup told Frankfurter Allgemeine Sonntagszeitung. The carrier formerly owned by failed travel firm Thomas Cook Group Plc plans to shed “between 650 and 1,000 jobs,” a move Teckentrup said was in line with ...

Bloomberg UK lawmakers lashed out at British Airways over plans for 12,000 job cuts, saying the carrier had sought to exploit the coronavirus crisis to slash headcount and weaken employment terms for remaining staff. The House of Commons transport committee said in a report on the pandemic’s impact on aviation that while some workforce reductions were inevitable, BA had made ...

Bloomberg Asia’s largest retailer is betting that it has the right product at the right time: a Uniqlo face mask. Fast Retailing Co, operator of the clothing stores, will begin selling reusable face masks in Japan this week. The masks, which will sold in sets of three and retail for 990 yen ($9), aim for both performance and comfort, the ...

Bloomberg China Eastern Airlines intends to establish a new airline in Hainan along with a group of other investors to take advantage of planned free-trade area and tourism growth, it says in a filing to the Hong Kong stock exchange. Shanghai-based carrier would be the majority shareholder in Sanya International Airlines. Other backers include the governments of Hainan province and ...

Bloomberg The Portuguese government wants more control over the stricken airline TAP SGPS SA in exchange for a rescue loan of as much as 1.2 billion euros ($1.4 billion), Expresso reported. The government, which already controls 50% of TAP, is in talks with private shareholders about the loan and should get a response early next week, the weekly newspaper said, ...

Bloomberg UK house prices increased as lockdown measures that froze the market were relaxed, Rightmove Plc said. Asking prices in June were 1.9% higher compared to March, before the market was put on hold, the property website operator said on Monday, bringing average values to $424,000. Restrictions put in place to slow the outbreak of the coronavirus were eased in ...

Bloomberg European stocks sank to a three-week low and US futures slid as evidence of a second virus wave dashed hopes of a quick economic recovery. Treasuries and the dollar rose. The Stoxx Europe 600 Index pared some losses, but was still 1.4% lower. S&P 500 futures sank 2.2% and Treasuries rallied, pushing the 10-year yield to 0.67%. BP Plc ...