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Bloomberg Deutsche Lufthansa AG Chief Executive Carsten Spohr is facing mounting pressure to hand over an equity stake to the German government as the airline fights for survival in the coronavirus crisis, according to people familiar with the matter. Lufthansa representatives are locked in talks with the cabinet in Berlin, the people said, asking not to be identified because the …

Bloomberg Stuck-at-home Americans are nowadays way more interested in buying toilet paper and hand soap than handbags and evening gowns. That’s forcing luxury retailers, like Neiman Marcus Group Inc and Nordstrom Inc, to resort to a tactic they rarely use: discounts. Neiman Marcus has Tom Ford glasses, which usually sell for about $400, at 50% off on its website. Customers …

Bloomberg Kenya Airways Plc is appealing for a cash bailout from the government to be able to survive the next six months as the partially state-owned carrier runs out of money after grounding all international flights to help contain the coronavirus. It will cost the airline about $5 million a month to manage its grounded fleet and retain a workforce …

Bloomberg Swissport International AG, the airport ground services firm owned by beleaguered Chinese conglomerate HNA Group Co, hired advisers to review its debt as passenger air traffic grinds to a halt because of coronavirus restrictions. The company appointed boutique financial services firm Houlihan Lokey and lawyers White & Case LLP to help the firm “strengthen its financial position,” it said …

Bloomberg The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe already running into the millions this week. As the International Labour Organisation (ILO) warns of almost 25 million layoffs if the virus isn’t controlled, the cuts from Austria to the US reflect the deepest peacetime recession since …

Bloomberg The Opec+ meeting to try to end the oil price war is unlikely to go ahead of Monday as previously expected, as Riyadh and Moscow engaged on a war of words about who’s to blame for the collapse in oil prices. The Opec+ alliance needs more time for negotiations, a delegate familiar with the matter said, noting the meeting …

Bloomberg Liquefied natural gas (LNG) traders are following the latest trend in the oil market by storing huge amounts of the commodity on tankers, hoping prices will rise before the ship docks. But while crude can sit for months or even years in a tank, super-chilled LNG tends to evaporate even in the specialised vessels that handle it. That limits …

Bloomberg Energy secretary Dan Brouillette told oil industry representatives that he expected a Saudi-Russia deal on crude production cuts within days. Brouillette’s comments came during a conference call with a broad swath of oil industry representatives, after President Donald Trump met with top executives from Exxon Mobil Corp, Chevron Corp, Phillips 66 and other companies. The discussion was described by …

Bloomberg Some of the biggest mining and energy companies are scrambling to respond to tightening controls on movement inside Australia — the biggest exporter of iron ore and liquefied natural gas — by temporarily rehousing employees and their families thousands of miles from home. About 800 so-called fly-in fly-out (FIFO) mining workers have been relocated to Western Australia for potentially …

Bloomberg TC Energy Corp sold US dollar-denominated bonds just as the company’s new loonie notes rally in their trading debut. The pipeline operator’s C$2 billion ($1.4 billion) 3.8% debt due 2027 is quoted at a spread of about 300 basis points over Canadian government bonds after pricing on April 1 at 325 basis points, according to Bloomberg Valuation bid prices. …