(Bloomberg) -- California’s new cases rose by a record and Florida infections jumped more than the weekly average, more signs of a possible resurgence of coronavirus in U.S. Sun Belt states. U.S. cases rose 1.2%, in line with the seven-day averageSaudi Arabia and Dubai are easing limits as Israel warned of more lockdowns after infections spiked. China suspended poultry imports from a Tyson Foods plant where hundreds of workers tested positive.An infectious disease researcher expects a “forest fire of cases” and no let up this summer. The U.K. is considering an emergency reduction in the value-added tax.Key Developments:Global Tracker: Cases pass 8.8 million; deaths top 465,000Here’s what you need to know about phase two as NYC reopensTyson, Pepsi among companies hit by fallout of Beijing outbreakGerman infection rate up with surge in meat, refugee facilitiesU.K. will set out further easing measures this weekTrump questions the U.S. case countSubscribe to a daily...
(Bloomberg) -- Wirecard AG’s former boss Markus Braun is unwinding a large portion of the shares he owns in the embattled payments processor, a stake he financed by borrowing against the stock’s value, according to a person familiar with the matter.Former Chief Executive Officer Braun, who held 7% of Wirecard’s shares to rank as the company’s biggest shareholder, had funded his purchase through a 150 million-euro margin loan that was secured by the value of the underlying stock. Wirecard’s shares plunged 72% last week after billions in cash went missing, triggering a liquidation of the shares Braun had pledged as collateral, the person said, asking not to be identified because the information hasn’t been publicly disclosed.Named CEO in 2002, Braun has put tens of millions of euros of his own funds into the firm and owned 8.7 million shares of Wirecard as of June 19, according to data compiled by Bloomberg....
(Bloomberg) -- Asia’s richest man has entered a new league of wealth.The net worth of Mukesh Ambani, chairman of Reliance Industries Ltd., has jumped to $64.5 billion, making him the only Asian tycoon in the exclusive club of the world’s top 10 richest people, according to the Bloomberg Billionaires Index. He overtook Larry Ellison of Oracle Corp. and France’s Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.Ambani, who owns 42% of Reliance, has benefited from a flurry of investment into the company’s digital unit, Jio Platforms Ltd., that Reliance said has made it net-debt free ahead of a March 2021 target. The shares of the Indian conglomerate have doubled from a low in March, just as other billionaires on the list have been hit by the impact of the coronavirus pandemic.While the Indian economy “has been nearly decimated” during the lockdown to control the spread of Covid-19,...
(Bloomberg) -- China suspended poultry imports from a Tyson Foods Inc. plant where hundreds of employees tested positive for Covid-19, stoking concerns over the broader implications for U.S. and global meat exports.All products from the plant in Springdale, Arkansas, where Tyson is based, that are about to arrive in China or have arrived at the country’s ports will be seized by customs. The suspension announced Sunday is an about face from just a few days ago, when Chinese officials said food was unlikely to be responsible for a fresh virus outbreak in Beijing.The move is a potential new threat to meat plants across the world that have seen slaughter disruptions because of the virus. In the U.S., hundreds of workers have become ill, and dozens have died. There’s also been a recent uptick in infections at facilities in Brazil and Germany.If China continues to suspend shipments based on coronavirus cases reported...
(Bloomberg) -- California reported record new cases and Florida infections jumped more than the weekly average, further signs of a possible resurgence coronavirus in the Sun Belt. An infectious disease researcher expects a “forest fire of cases.” Saudi Arabia and Dubai began lifting restrictions as Israel warned of more lockdowns after infections spiked. China suspended imports from a Tyson Foods U.S. poultry plant after a cluster of cases.The U.K. will set out plans to further ease restrictions this week. Chancellor of the Exchequer Rishi Sunak is considering an emergency reduction in the value-added tax, the Sunday Times reported.Key Developments:Global Tracker: Cases pass 8.8 million; deaths top 465,000Here’s what you need to know about phase two as NYC reopensTyson, Pepsi among companies hit by fallout of Beijing outbreakGerman infection rate up with surge in meat, refugee facilitiesU.K. will set out further easing measures this weekCases increase 1.3% in Russia, 1.1% in IranTrump...
The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added. The stock and convertible notes offerings, first reported by Bloomberg News, include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional convertible notes respectively, the company said. American Airlines and Delta Air Lines Inc said last week that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic....
