ic

Rio weighs closure of Icelandic smelter as it struggles with power costs

ISAL facility remains unprofitable as aluminium producers face weaker demand and prices




ic

Barrick Gold buys 800,000 antibody test kits

Chief executive Mark Bristow says miner has taken lessons on tackling coronavirus from experience of Ebola outbreak




ic

BA warns Gatwick staff it may not resume flights there

Airline’s operations at London’s second biggest airport face brunt of 12,000 job cuts




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Alex Cruz, BA boss suffering from altitude sickness

The four years since his promotion to CEO have been beset by crises




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Virgin Atlantic to cut third of staff to survive Covid-19 crisis

Airline to axe up to 3,150 jobs and close London Gatwick operations as it scales back to save business




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London Gatwick under a cloud as carriers threaten to quit airport

Virgin Atlantic could be followed by British Airways in abandoning UK’s second-biggest gateway




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Space or bust: Richard Branson’s Virgin dilemma

How Virgin Galactic might help the rest of the group escape the gravitational pull of coronavirus




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ExxonMobil suffers $610m loss after hit from oil and gas prices

Biggest US oil company takes $2.9bn charge to account for crude’s plunge




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Investors Chronicle: Keystone Law, BP, HSBC

Companies analysis from our sister publication




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Nigerian border closures cut smuggling but drive up prices

Benin crossing has been shut for three months, halting trade on vital frontier




ic

Vested interests are dragging South Africa down

Cyril Ramaphosa will be loath to take on the people who helped him to the ANC presidency




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South African Airways close to collapse

State-owned flag carrier struggling to pay salaries and secure funds to stay aloft




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South African Airways seeks bankruptcy protection

First state company to enter business rescue since end of apartheid




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African entrepreneurs pitch to Alibaba founder Jack Ma

Business contestants battle for $1m prize money in glitzy televised extravaganza




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South Africa to impose its biggest rolling power blackouts

Eskom will remove 6,000 megawatts of demand to avert total collapse of national grid




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South Africa’s miners shut down by power cuts

State utility Eskom removed power to stave off grid collapse




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Visa in partnership with MFS Africa digital payments hub

Tie-up aims to allow people with mobile wallets to pay for international online services




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Vodafone targets Africa’s unbanked with plans for M-Pesa

Telecoms group seeks to turn mobile payments unit into provider of wider services




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South African Airways suspends some flights to save cash

State-backed carrier starts cancelling flights as vital government funding is delayed




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South African miners applaud move to cut reliance on Eskom power

Pretoria has waived rules that prevented mining groups generating electricity for their own use




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AngloGold sells world’s deepest gold mine in South Africa exit

Move could pave way for company to shift primary listing to London




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Anglo American ‘encouraged’ by South African move to loosen currency controls

Restrictions have hampered miner’s ability to move money out of the country




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Sasol plans South Africa’s biggest rights issue in decades

Petrochemicals group to launch sale of up to $2bn in shares as part of debt reduction push




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African health officials warn of chronic medical shortages

Central African Republic has just three ventilators for its 5m people




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UAE groups implicated in suspected violation of Libyan arms embargo 

Two Gulf companies shipped jet fuel to renegade general Khalifa Haftar, documents show




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Dow enters bear market as pandemic declared

Investors fret over the level of economic stimulus Washington is likely to provide




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Tokyo stock price fall reflects virus threat to Olympics, say analysts

Nikkei 225 average drops 16 per cent over the week amid broad pandemic-linked sell-off




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Short bans/market closures: they amplify panic

Trading restrictions did not work in the past; there is less reason for them to work this time




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Evictions ban aims to help tenants in rented homes

Emergency move to prevent people being thrown out because of virus




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Nationwide pulls tracker mortgages after historic base rate cut 

Mortgage products tracking base rate vanish as ‘the numbers no longer stack up’ 




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Initial finding backs US health official over virus sidelining

Rick Bright’s lawyers say federal investigators recommend he be reinstated during probe




ic

My First Million: Nicholas Gill, chief executive, David Phillips

We grew too fast, but came back stronger




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Axa criticises regulatory confusion over dividend policy

Chief executive Thomas Buberl says different guidance between countries ‘difficult to accept’




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Insurer Geico offers $2.5bn of discounts as car accidents dwindle

Industry expects a sharp decline in claims as drivers stay at home during coronavirus pandemic




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UK watchdog orders insurers to pay small business claims quickly

FCA warns failure to act could count against provider’s regulatory record




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FT ranking: Asia-Pacific High-Growth Companies

Coronavirus means many businesses face an uncertain future but the region’s fundamentals will aid recovery




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FT High-Growth Companies Asia-Pacific

Businesses shift their focus from scale to survival as a coronavirus-led downturn takes hold — but the region’s underlying growth prospects bode well for the recovery




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Markets should beware this morally hazardous approach to policymaking

Central banks repeatedly set the stage for the next boom and bust cycle, fuelled by growing debt




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How to save pandemic survivors from unemployment

Government must prioritise getting the young back to work




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Free markets must be protected through the pandemic

Sensible and targeted state intervention can help capitalism to thrive post-crisis




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How to choose chic knobs for cupboard doors

Look for something elegant and distinctive but not overbearing




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Netflix is chilling in Iceland but the rest of the world is a problem

As global lockdowns boost streaming subscriptions, filming freezes spell trouble ahead




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Trying to write fiction in superfictional times

Crises have inspired classics of literature — so is the great Covid-19 novel already under way?




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How the coronavirus threatens Asia-Pacific’s $7tn pensions market

Sector across region hit by fears of panicked mass withdrawals due to pandemic




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Coronavirus crisis inflicts a double blow to pensions

Retirement plans have suffered tumbling asset values and ballooning liabilities




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Public sector unions take government to court over pension reform

Judicial review sought over alleged breach of 2015 law, claiming cost benefits should go to scheme members




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Five ways to protect your post-pandemic pension pot

How will your retirement finances change BC and AC — before and after coronavirus?




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US state pension system hit hard by coronavirus pandemic

Sharp falls across financial markets in March have caused large drop in aggregate funded ratio




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Zbigniew Brzezinski, US policy adviser, 1928-2017

Right-hand man to President Carter from Iran hostage crisis to Salt Two arms treaty 




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John McCain, Republican senator, 1936-2018

Vietnam vet and old-school conservative whose friendships crossed the political aisle