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Bloomberg Virgin Atlantic Airways Ltd is closing in on a 400 million-pound ($504 million) rescue led by Davidson Kempner Capital Management after the US hedge fund offered more favorable terms than other potential backers, people familiar with the matter said. Davidson Kempner has offered funding conditions that an alliance of Elliott Management Corp and UK investment firm Greybull Capital declined …

Bloomberg Boris Johnson is under pressure to strip IAG SA’s British Airways of valuable landing slots at UK airports amid concern about the airline’s plan to cut 12,000 jobs, according to a report in the Daily Mail. More than 100 British members of parliament from various political parties are asking the prime minister to reconsider BA’s right to slots at …

Bloomberg The High Court of Kenya ordered the national carrier to temporarily freeze job cuts pending a full hearing of the matter. The case will be heard on July 16, Judge Hellen Wasilwa said in an judgment. The Kenya Aviation Workers’ Union sought the action against Kenya Airways after the airline’s chief executive officer, Allan Kilavuka, earlier this month told …

Bloomberg Competition to buy retailer Brooks Brothers Group Inc will allow the company to fund its reorganisation in bankruptcy with an $80 million loan that carries a zero interest rate and no closing fees. ABG-BB LLC, a partnership between Authentic Brands Group LLC and mall landlord Simon Property Group Inc, will provide the loan. The generous terms reflect competition between …

Bloomberg American Airlines Group Inc has warned Boeing Co it will cancel orders for about a dozen 737 Max jets if negotiations fail to secure additional help to finance the planes, said people familiar with the matter. The discussions involve aircraft for which financing deals have expired because of delivery delays and a handful of other jets for which financial …

Bloomberg Gap Inc will work collaboratively with its vendors to compensate them in full for finished goods and goods in production that were canceled or subject to pack and hold. The owner of the Old Navy and Banana Republic apparel chains has also extended payment terms on certain orders and is providing low-cost financing to suppliers, according to a statement …

Bloomberg The landlords of as many as 40 Travelodge hotels are planning to replace them with a serviced apartment operator following a bitter row with the budget hotel chain over rent cuts, according to the Daily Telegraph. Various unnamed landlords are in discussions with Room2, which wants to launch a low-cost version of its “hometel” concept, which combines serviced apartments …

Bloomberg Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery use, while electric cars drastically cut emissions, fuel costs and maintenance. Even so, a rift has developed within the automobile industry about the best way to move forward. …

Bloomberg Tesla Inc.’s promotion of its driver-assistance system Autopilot is under scrutiny in Germany, where a court is scheduled to rule next week on whether the carmaker is misleading consumers. The maker of the Model 3 sedan says that Tesla vehicles have full potential for autonomous driving. The company also has promoted its cars as having the ability to perform …

Bloomberg Amazon.com’s plan for a fleet of 3,236 communications satellites won the backing of the US Federal Communications Commission (FCC) chairman, who said he had asked fellow commissioners to approve the venture. “Satellite constellations like this aim to provide high-speed broadband service to consumers in the US and around the world,” Ajit Pai said in a tweet. Pai added that …