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Bloomberg Across the US, sales are cratering, bankruptcies are on the rise, and unemployment has hit unprecedented levels. With consumers glued to the couch watching Netflix or commiserating over Zoom, retailers have been especially hard hit. Yet even as the coronavirus pandemic wreaks havoc on American malls and main streets, a billionaire from Prague sees something in the wreckage: bargains. ...

Bloomberg Amazon.com is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders. “We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the ...

Bloomberg Brookfield Asset Management rejoined the race to buy Virgin Australia Holdings Ltd, according to a person familiar with the situation, as administrators prepare to narrow the field of suitors for the collapsed carrier. The Canadian asset manager submitted a bid to administrators at Deloitte, said the person, declining to be named since the proposal hasn’t been made public. Deloitte, ...

Bloomberg US airlines have yet to tap $29 billion in federal pandemic relief loans as they wait to see whether the reopening of the economy revives demand and diminishes the need for money that comes with government strings attached. Although the four largest US passenger airlines have applied for the Treasury Department program, only American Airlines Group Inc has said ...

Bloomberg South Africa permits air travel from four main airports from Monday as the nation eases lockdown measures put in place to curb the spread of the coronavirus pandemic. Limited domestic flights will be allowed for business purposes, and passengers must ask for authorisation based on their reason for travel, Transport Minister Fikile Mbalula said in a televised briefing. Flights ...

Bloomberg The aviation industry’s recovery from the coronavirus outbreak will be long and slow, with passenger numbers likely to stay below pre-pandemic levels through 2023, according to S&P Global Ratings, which warned of more rating downgrades for airports over the next few months. Global air passenger numbers will drop as much as 55% this year, a far steeper slump than ...

Bloomberg Phyllis Lam has lived in Hong Kong for 42 years. It’s where she was born, went to school, met her husband and planned to raise her two children. But like a growing number of Hongkongers disillusioned by China’s tightening grip on the city, Lam now feels she has little choice but to leave. “I have no confidence in Hong ...

Bloomberg Nine passengers died and eight were wounded when a bomb hit a mini-bus on the outskirts of Somali capital Mogadishu this morning, police said. The victims were travelling from the town of Afgoye to Mogadishu when a roadside bomb exploded, Yahye Ahmed, a police officer, said by phone. No one has claimed responsibility for the blast, though the police ...

Bloomberg President Donald Trump vowed his administration would end what he called “mob violence” in US cities following the death of an unarmed black man at the hands of Minnesota police, blaming leftist groups for clashes with police and property damage around the nation. “The mobs are devastating the life’s work of good people and destroying their dreams,” Trump said ...

Bloomberg India announced a phased lifting of the nationwide lockdown by allowing malls, restaurants and places of worship to open from June 8, as the country attempts to revive an economy ravaged by the world’s toughest stay-at-home restrictions. The country, which had enforced sweeping and strict orders March 25, will limit the stringent rules to areas that have a large ...