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The US and global economies are in a perilous state, and yet we may be underestimating the dangers. Just out of sight lies a second large threat: a global debt crisis that, centred in Europe, would further destabilise a world already struggling to combat the dreadful consequences of the coronavirus pandemic. In the United States and elsewhere, tens of millions ...

Meituan Dianping suffered from the Covid-19 pandemic in all the ways that investors would have expected: In-person activities got stung, food deliveries stayed relatively resilient and groceries thrived. As a result, revenue dropped and losses widened. What’s surprising is the area where China’s leading delivery and bookings provider benefited most: advertising. Even with business activity decimated, suppliers who rely on ...

Colleges and students in the US are engaged in a game of chicken as the fall semester approaches with no end in sight for the coronavirus crisis. The outcome could radically change the way Americans think about and value a higher education. On one side, institutions want students to sign up and pay tuition deposits, which are coming due. Most ...

An awkward question hangs over the Covid-shuttered world of Downing Street. At his daily morning meeting, Boris Johnson, back to full duties after suffering a serious bout of the virus, recently asked who was in charge of relaxing Britain’s lockdown plan, with all of the risks and uncertainties that entails for a government. “There was just silence,” an insider told ...

Bloomberg Latam Airlines Group SA, Latin America’s largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region. The Chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn around the business. Latam, whose shareholders include Chile’s Cueto family and Delta ...

Bloomberg Wumei Holdings Inc, the Chinese retail group that owns one of the country’s biggest supermarket chains, is considering an initial public offering in Hong Kong, people with knowledge about the matter said. The Beijing-based company has held preliminary talks with potential advisers about a listing, according to the people, who asked not to be identified because the information is ...

Bloomberg Air Canada’s bid for tour operator Transat AT Inc faces an extended probe from European Union regulators who said the deal may hamper competition by combining the two biggest airlines linking Europe and Canada. The European Commission set a September 30 deadline to rule on the deal, citing concerns that the “transaction could significantly reduce competition on 33” routes, ...

Bloomberg The German government’s 9 billion-euro ($9.8 billion) bailout of Deutsche Lufthansa AG may cost the stricken carrier some valuable assets: Key flight slots at airports in Frankfurt and Munich. The European Commission wants Lufthansa to surrender the slots out of concern the aid will give the carrier unfair advantage over competitors, people familiar with the matter said. After weeks ...

Bloomberg EasyJet Plc Chief Financial Officer Andrew Findlay has informed the carrier that he plans to leave next year, days after facing down a demand for his removal from the board in a dramatic shareholder vote. Findlay will stay on until May 2021 when his contract expires, EasyJet said in a statement on Tuesday. The low-cost carrier said it would ...

Bloomberg Hong Kong is bracing for what could be its biggest day of protests in months, with pro-democracy groups calling for a general strike against China’s latest moves to increase control of the city. Protests are planned for Wednesday near the Legislative Council building in central Hong Kong, where lawmakers plan to hold a hearing on a bill that would ...