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Bloomberg China’s state-owned power giants have been asked to prepare reports on historical emissions that officials will use to set up the world’s largest carbon market, according to people familiar with the request. The China Electricity Council has asked firms for submissions by July, said the people, who asked not to be identified because the information isn’t public. The council …

Bloomberg Boeing Co is closing in on a key milestone towards returning its beleaguered 737 Max to the commercial market, targeting later this month for hosting US regulators on a flight to test the jet’s upgraded systems. The company separately is notifying airlines of an important fix to the grounded jetliner’s wiring, said two people familiar with the planning who …

Bloomberg Indonesian flag carrier PT Garuda Indonesia won approval from investors to extend the maturity of a $500 million sukuk, easing a cash squeeze as the airline battles falling passenger demand during the coronavirus pandemic. The state-owned airline, whose passenger traffic fell 91% in April from a year earlier, said in a statement that investors holding 90.88% of the aggregate …

Bloomberg London Heathrow airport said it has begun cutting front-line jobs after a recovery in passenger numbers was delayed by Britain’s introduction this week of a quarantine rule for incoming travellers. Europe’s busiest airport will initially seek voluntary departures after agreeing a severance plan with unions, it said in a statement. The hub has already eliminated 500 management posts. The …

Bloomberg Khazanah Nasional Bhd, Malaysia’s sovereign wealth fund, is considering providing as much as 5 billion ringgit ($1.2 billion) to the national flag carrier to see it through the coronavirus-induced slump in bookings, according to people familiar with the matter. Malaysia Airlines Bhd would use the fresh capital to resume some operations it has suspended, the people said. If it …

Bloomberg Ocado Group Plc is raising just over 1 billion pounds ($1.3 billion) through a share placement, retail offer and convertible bonds to fund expansion of online grocery shopping in an era of social distancing. The company said on Thursday it’s getting 657 million pounds via the share placement and retail offer and 350 million pounds through the convertible bond …

Bloomberg Stocks in Europe and Asia tumbled with US equity futures on Thursday after the Federal Reserve painted a long slog ahead for the economic recovery and as coronavirus infection rates jumped in parts of America. The Stoxx Europe 600 Index opened sharply lower, with sectors scooped up in the recent rally such as banks and travel leading declines. S&P …

Bloomberg India stocks fell as investors weighed whether valuations have become too stretched following two straight weeks of gains. The S&P BSE Sensex declined 1.2% to 33,831.42 as of 1:41 pm in Mumbai, while the NSE Nifty 50 Index slipped by the same magnitude. Both measures have rebounded about 30% from their record slide on March 23. The price-to-earnings ratio …

Bloomberg More traditional companies in Hong Kong and Singapore are set to benefit from a “new business cycle” globally as their economies recover from the pandemic, according to Citigroup Inc.’s private-banking arm. Cyclical and undervalued stocks will outperform in both jurisdictions supported by fiscal stimulus, with Hong Kong probably coming out of a yearlong recession this quarter, Ken Peng, head …

Bloomberg The head of the International Monetary Fund (IMF) called on private creditors to join the Group of 20 in providing debt relief for the world’s poorest nations, saying that the alternative to suspension and restructuring is defaults. A debt-service suspension would provide time for restructuring debt on a case-by-case basis in nations where debt sustainability needs to be restored, …