• Hedge Funds Have Never Been This Bullish On Verisign, Inc. (VRSN)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Verisign, Inc. (VRSN)

    Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

  • Hedge Funds Cashing Out Of Fair Isaac Corporation (FICO)
    Insider Monkey

    Hedge Funds Cashing Out Of Fair Isaac Corporation (FICO)

    Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

  • GlobeNewswire

    ROSEN, NATIONALLY REGARDED INVESTOR COUNSEL, Reminds Grand Canyon Education, Inc. Investors of Important Deadline in Securities Class Action – LOPE

    NEW YORK, May 30, 2020 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Grand Canyon Education, Inc. (NASDAQ: LOPE) between January.

  • Bloomberg

    India to Ease Limits; EU Urges U.S. Reverse on WHO: Virus Update

    (Bloomberg) -- The European Union called on the U.S. to reconsider quitting the World Health Organization. German Chancellor Angela Merkel signaled she may skip a physical meeting of the Group of Seven leaders in the U.S., citing the pandemic.India will start easing its lockdown in stages beginning June 8 and will lift restrictions on domestic airline flights. Brazil ranks fifth in the world for coronavirus deaths, after overtaking Spain.Iraq announced a seven-day curfew and a halt in flights from abroad to curb the outbreak. Italy will start allowing travel next week, despite objections over the movement of people from the hard-hit region near Milan.Key Developments:Virus Tracker: Cases top 5.9 million; deaths over 365,000Texas shows the world how to reopen cautiously, for nowEuropeans not feeling very hopeful about their economy just yetRace to the freezer: Europe’s food glut has nowhere to goEU revamps steel-import limits as virus-hit economy recoversHow China tested 11 million people in just two weeksBaseball on ESPN: Korea’s major league plays through pandemicBrits emerge from lockdown to find affordable dining at riskSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week’s top stories from QuickTake, click here.Somalia Votes in 2021, Despite Outbreak (10:30 a.m. NY)Somalia will push ahead with elections in early 2021, Prime Minister Hassan Ali Kheyre said after a cabinet meeting, removing doubt that the spread of Covid-19 will delay the vote.The Horn-of-Africa nation is seeking debt relief as the pandemic adds to its woes, from an insurgency to locusts. It has almost 2,000 cases and a health system ill-equipped to handle the outbreak.South Africa Allows Domestic Flights (10:20 a.m. NY)South Africa will permit air travel from four main airports starting Monday as the nation eases lockdown measures. Limited domestic flights will be allowed for business, and passengers must give a reason, Transport Minister Fikile Mbalula said in a televised briefing on Saturday.India to Ease Lockdown in Stages (8:52 a.m. NY)India announced a phased lifting of the nationwide lockdown by allowing malls, restaurants and places of worship to open from June 8, the interior ministry said in a statement.The country, which had enforced sweeping and strict stay-at-home orders from March 25, will limit the stringent rules to areas that have a large number of active cases. Authorities will decide to open schools and colleges in July, while international air travel will resume in the final phase. The exit plan comes even as India has been unable to flatten its curve despite the restrictions which have left its already troubled economy in deep disrepair.Merkel May Skip G-7 (8:42 a.m. NY)German Chancellor Angela Merkel, citing the pandemic, indicated she may not travel to the U.S. in June to attend a physical meeting of the Group of Seven leaders, an event that President Donald Trump heralded as a great sign of “normalization.”“Given the current state of events, in view of the overall pandemic situation, she’s unable to confirm her personal participation,” a government spokesperson said in an emailed statement on Saturday. “She will continue to monitor further developments of the pandemic.”EU Urges U.S. to Reconsider WHO Decision (8:24 a.m. NY)The European Union called on the U.S. to reconsider its decision to terminate its relationship with the World Health Organization, which President Donald Trump has accused of being too deferential to China.“Global cooperation and solidarity through multilateral efforts are the only effective and viable avenues to win this battle the world is facing,” according to a joint statement Saturday from European Commission President Ursula von der Leyen and the bloc’s chief foreign envoy, Josep Borrell. “We urge the U.S. to reconsider its announced decision.”Portugal’s Virus Cases Slow (8:04 a.m. NY)Portugal reported 257 new coronavirus cases on Saturday, taking the total to 32,203, after recording more than 300 infections in each of the two previous days, the government said. The increase in new cases has been mostly in the greater Lisbon area and led the government on Friday to delay the planned reopening of malls in that region. The number of cases in intensive care units fell to 63 on Saturday, remaining at the lowest level since March.Italy to Open Travel Even for Lombardy (7:04 a.m. NY)Italy’s health minister confirmed the country can go ahead with the plan to start allowing travel across the nation next week, even as some regional governors oppose letting people from the hard-hit Lombardy region move freely.Data on the spread of the virus is improving and allows for the reopening among regions, Health Minister Roberto Speranza told newswire Ansa. The announcement came after a late night meeting with Prime Minister Giuseppe Conte and various coalition party representatives and ministers.Macau’s Economy Shrinks by Almost Half (6:46 a.m. NY)Macau’s economy posted a deeper contraction in the first quarter as lockdown measures introduced to contain the virus outbreak hit revenue from gambling, hotels, and tourism.Gross domestic product in Macau plummeted 48.7% in the first three months of 2020, according to the city’s statistics department. That is the fifth straight quarterly decline.Belgium’s Socialists Propose $41.7 Billion Stimulus (6:14 a.m. NY)Paul Magnette, the head of Belgium’s Socialist party, proposed a 37.6 billion-euro ($41.7 billion) stimulus package to combat the economic toll of the global pandemic, according to an interview with Le Soir. The aid would target catering, cultural and health-care industries, he said.Iran Reports Fewer New Cases (6:12 a.m. NY)Iran’s infection tally rose to 148,950 as the daily number of new cases dropped to 2,282 from 2,819 on Friday, the highest daily number of cases in eight weeks. The virus death toll reached 7,734 with 57 more deaths overnight.S&P Sees Abu Dhabi, Bahrain Economies Shrinking (5:20 p.m. HK)Abu Dhabi’s economy will contract 7.5% this year, S&P Global Ratings said, citing lower oil production and the pandemic.Bahrain’s economy will shrink 5% this year because of low oil prices, although government stimulus measures should provide some support, S&P said. The ratings company expects Bahrain’s economy to rebound in 2021 as oil prices recover and regional activity increases.Indonesia Gears Up for Post-Holiday Return (5:02 p.m. HK)Indonesia’s capital Jakarta is anticipating one million vehicles will enter the city as people return from Eid al-Fitr holidays. Traffic, including motorcycles, is projected to peak from Saturday to Monday, according to a Cabinet Secretariat statement. While the figure is lower compared to the 2.8 million vehicles recorded last year, the flow of so many travelers is raising concern as the nation’s coronavirus cases grow.Indonesia now has the highest coronavirus death toll in Southeast Asia, with 1,573 people succumbing to the disease as of Saturday. New cases have more than doubled in May, with the total reaching 25,773.Uzbekistan Extends Lockdown (3:36 p.m. HK)The Uzbek government has decided to extend lockdown restrictions until June 15. Central Asia’s most populous nation has confirmed 3,513 cases of infection of the coronavirus, with 14 deaths and 2,728 recoveries.Singapore Reports 506 New Cases (3:30 p.m. HK)Singapore reported 506 new infections as of Saturday, according to a statement from its Health Ministry. A vast majority of the additional infections are of work permit-holders who live in foreign workers’ dormitories, according to the statement. The ministry is expected to provide additional details in the evening, it added.Chinese Vaccine Expected to Begin Mass Output This Year (3:25 p.m. HK)A front-running Covid-19 vaccine being developed in China is expected to be available as soon as the end of this year, according to a report published in the official Wechat account of the State-owned Assets Supervision and Administration Commission.The vaccine, jointly developed by the Beijing Institute of Biological Products and China National Biotec Group Co., has completed phase II testing and may be ready for the market at the end of this year or early next year, said the report.The production line for the vaccine will be fully disinfected and closed in preparation for output to start Saturday, and will have a manufacturing capacity of 100 million-120 million vaccines each year.Iran Lifts Restriction on Shopping Hours (2:26 p.m. HK)Iran has lifted a restriction on the operating hours of shopping malls in the latest step of reopening the economy. Meanwhile, all mosques in the country will be open to worshipers for daily prayers three times a day, President Hassan Rouhani said in a national coronavirus taskforce briefing broadcast on state TV.South Korea Has Outbreak at Distribution Center (1:46 p.m. HK)South Korea reported 39 new coronavirus cases in 24 hours as health officials seek to control a new outbreak at a distribution center for Softbank-backed Coupang Corp., an e-commerce company.A total of 108 infections are related to the center, the vice head of the Korea CDC said in a briefing. That tally includes 73 employees and 35 people who might have come into contact with the employees. A separate outbreak related to nightclubs in Itaewon, Seoul have increased to 269 infections as of Saturday, Kwon said.Most Australians Support State Border Closures (1:40 p.m. HK)The majority of Australians approve of states’ decisions to shut their borders amid the coronavirus crisis, according to a new poll.More than three in four Australians surveyed this week said they back the closures, including 40% who “strongly” support them, according to a release by The Australia Institute, a public policy group that commissioned the poll. One in five opposed the states’ measures.“The strong support for state border closures shows that while there is much public relief with some public health restrictions lifting, there is also still much community concern regarding the spread of Covid-19,” Ben Oquist, the institute’s executive director, said in the release.U.S. Supreme Court Rejects California Church (12:36 p.m. HK)A divided U.S. Supreme Court refused to exempt a San Diego church from crowd limits imposed by California to stop the spread of the coronavirus.Chief Justice John Roberts joined the court’s liberals in the 5-4 majority, writing that judges should be reluctant to second-guess state officials on questions of health and safety during a pandemic. The order came hours after the court refused to intervene on behalf of two Chicago-area churches that said Illinois coronavirus restrictions were so strict they violated the Constitution.Singapore, China to Allow Essential Travel (9:42 a.m. HK)Singapore and China have agreed to allow essential travel for business and official purposes between the two countries in early June, according to a joint emailed statement.The Fast Lane arrangement will be first applied between Singapore and six Chinese provinces or municipalities directly under the central government, and will gradually expand to include additional areas. Covid-19 prevention and control measures will remain in place.The agreement comes as countries cautiously seek to begin so-called “travel bubbles” after the pandemic shut down borders. China, where the coronavirus first emerged, appears to have brought its cases under control, while Singapore is moving toward opening its economy after wrestling to contain an outbreak among thousands of foreign workers.China Cargo Ship Source of Two New Infections (9:35 a.m. HK)Two crew members of a Chinese-registered cargo ship, Zhong Chang Rong Sheng, tested positive for Covid-19 in China’s Shandong Province after they arrived from India via Singapore, state television CCTV reported on its official Weibo account.The two Chinese nationals, and another crew member who hasn’t tested positive, have been hospitalized, while the remaining 19 people on board are still under quarantine on the vessel. It docked at Lanshan Port of Rizhao in Shandong province on May 27. The two infections are among four new coronavirus cases, all imported, reported by China.United Airlines Will Add Back International Flights in July (8:30 a.m. HK)United Airlines Holdings Inc. will add back some international flying in July, saying demand has “risen modestly” in some markets after the Covid-19 pandemic all but wiped out travel.Flights will resume or increase on 40 international routes in July, United said in a statement Friday. The Chicago-based airline will serve only 27 foreign routes in June. United has said its overall schedule will be down about 75% from a year earlier in July, compared with a 90% reduction currently.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • National Guard summoned as protests spread to Atlanta, Detroit, Los Angeles from Minneapolis
    MarketWatch

    National Guard summoned as protests spread to Atlanta, Detroit, Los Angeles from Minneapolis

    Protesters burned businesses in Minneapolis. They smashed police cars and windows in Atlanta, broke into police headquarters in Portland, Oregon, and chanted curses at President Donald Trump outside the White House. Thousands also demonstrated peacefully, demanding justice for George Floyd, a black man who died after a white officer pressed a knee into his neck.

  • Hedge Funds Have Never Been This Bullish On The Clorox Company (CLX)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On The Clorox Company (CLX)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]

  • Hedge Funds Have Never Been Less Bullish On United Airlines Holdings (UAL)
    Insider Monkey

    Hedge Funds Have Never Been Less Bullish On United Airlines Holdings (UAL)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • Nike takes a social stand on race relations: 'Don't turn your back on racism'
    USA TODAY

    Nike takes a social stand on race relations: 'Don't turn your back on racism'

    As protests continue over George Floyd's death, Nike took to Instagram Friday to post a socially conscious message: "Don't turn your back on racism."

  • Hedge Funds Continue Cashing Out Of Smartsheet Inc. (SMAR)
    Insider Monkey

    Hedge Funds Continue Cashing Out Of Smartsheet Inc. (SMAR)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • Hedge Funds Aren’t Done Buying GDS Holdings Limited (GDS)
    Insider Monkey

    Hedge Funds Aren’t Done Buying GDS Holdings Limited (GDS)

    Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

  • Here is How Hedge Funds Traded Restaurant Brands International Inc (QSR) Recently
    Insider Monkey

    Here is How Hedge Funds Traded Restaurant Brands International Inc (QSR) Recently

    In this article we will take a look at whether hedge funds think Restaurant Brands International Inc (NYSE:QSR) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]

  • Here is How Hedge Funds Traded Expedia Group, Inc. (EXPE) Recently
    Insider Monkey

    Here is How Hedge Funds Traded Expedia Group, Inc. (EXPE) Recently

    In this article we will check out the progression of hedge fund sentiment towards Expedia Group, Inc. (NASDAQ:EXPE) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]

  • Bloomberg

    India to Exit Lockdown in Phases Even as Infections Surge

    (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 number of active cases, until at least June 30. Authorities will decide on opening schools and colleges in July, while resumption of international air travel is planned only in the final phase.The exit plan comes even as India, which has the most number of infections in Asia, has been unable to flatten its curve despite the restrictions, leaving its already troubled economy in deep disrepair. In the most recent phase of its lockdown, which ends on May 31, the South Asian nation allowed the resumption of some domestic flights and interstate rail services.India has been easing out of its strict lockdown since April 20 with its economy likely headed for its first full-year contraction in more than four decades. Gross domestic product expanded 3.1% in the three months through March from a year ago, the Statistics Ministry said in a statement in New Delhi on Friday.The country’s strict restrictions forced some 122 million people out of jobs in April alone, according to estimates by the Center for Monitoring Indian Economy Pvt. and is likely to push at least 12 million people into extreme poverty, according to World Bank estimates.Despite the relaxation of curbs to allow industry to start functioning again, most businesses are still struggling to take off because of travel restrictions, broken supply chains and a flight of labor from cities back to the relative safety of their villages.The latest decision means restrictions on domestic flight movements -- currently capped at one third of a previous schedule -- will also be lifted, according to Arun Kumar, head of India’s Directorate General of Civil Aviation.“However, in view of the prevailing sentiments the scaling up will be gradual and shall factor in the sensitivities of all stakeholders,” Kumar said in response to a query.The South Asian nation’s death toll hit 4,983 on Saturday, climbing past the 4,638 fatalities from Covid-19 in China. The nation of 1.3 billion people now has the highest number of fatalities in Asia, excluding Iran, despite the largest lockdown in the world. Still it is far behind the number of cases and deaths seen in places like the U.S., U.K., Brazil and Russia.Infections rose to 174,496 on Saturday, the ninth highest globally, according to data from Johns Hopkins University.The country’s death toll quadrupled in less than a month, accelerating by more than 1,000 over the past week, while infections have been soaring at a similar pace. Government experts have begun to acknowledge the outbreak won’t peak until June or July.(Updates with aviation regulator’s comment in the seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Hedge Funds Watching Francesca’s Holdings Corp (FRAN) From Afar
    Insider Monkey

    Hedge Funds Watching Francesca’s Holdings Corp (FRAN) From Afar

    We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

  • Forget Boeing: This Aerospace Company Proved Its Stock Is a Better Buy Now
    Motley Fool

    Forget Boeing: This Aerospace Company Proved Its Stock Is a Better Buy Now

    Heico is a diversified, low-debt option for investors interested in buying into an aerospace recovery.

  • Nuro will test autonomous prescription delivery for CVS
    Autoblog

    Nuro will test autonomous prescription delivery for CVS

    Nuro is hoping to make getting prescriptions easier by teaming up with CVS. The company will use its fleet of autonomous vehicles to deliver meds to the curbs of customers who place orders via CVS.com or the CVS pharmacy app. This service will be free to all CVS Pharmacy customers, and Nuro says that deliveries should take three hours or less.

  • Why Colgate-Palmolive Is a Retiree's Dream Stock
    Motley Fool

    Why Colgate-Palmolive Is a Retiree's Dream Stock

    Colgate-Palmolive (NYSE: CL) has built a business over the centuries that is essential to practically every consumer's everyday life. The company continues to expand its global footprint, and it actually derives three-quarters of its revenue from emerging markets, which could be considered one of the few risks associated with an investment in its stock, though it also presents a world of opportunity to cash in on rising disposable income levels. Coupled with an enviable record of sharing its success by returning value to shareholders, it's easy to see why Colgate's stock fits into a dream retirement portfolio.

  • Mortgage rates hit another all-time low as home buyers rush to secure cheap financing
    MarketWatch

    Mortgage rates hit another all-time low as home buyers rush to secure cheap financing

    The number of people applying for loans to purchase a home has increased for six consecutive weeks after falling earlier in the coronavirus outbreak.

  • Prototype of new SpaceX rocket Starship expolodes on Texas test pad
    Reuters Videos

    Prototype of new SpaceX rocket Starship expolodes on Texas test pad

    The testing explosion was unrelated to SpaceX's upcoming launch of two NASA astronauts from Florida's Kennedy Space Center using a different rocket system, the Falcon 9 with the Crew Dragon capsule fixed on top. The prototype exploded at SpaceX's Boca Chica test site as flames and black smoke were seen blazing in the air. There was no immediate indication of injuries.

  • Walt Disney World cancels dining reservations and stops taking new hotel bookings ahead of planned July reopening
    MarketWatch

    Walt Disney World cancels dining reservations and stops taking new hotel bookings ahead of planned July reopening

    Travelers are rethinking their theme-park getaways as Disney eliminates some of its most popular perks for when Walt Disney World resumes operations.

  • Minneapolis mayor to Trump: ‘Weakness is pointing your finger at somebody else during a time of crisis’
    MarketWatch

    Minneapolis mayor to Trump: ‘Weakness is pointing your finger at somebody else during a time of crisis’

    As protests in response to the death of George Floyd rocked Minneapolis for a third night on Thursday, President Trump called the city’s mayor “weak” for failing to keep his community under control. “A total lack of leadership,” the president wrote on Twitter (TWTR)  late Thursday, adding that if “the very weak Radical Left Mayor, Jacob Frey,” didn’t “get his act together,” then the commander-in-chief was going to send in the National Guard. This also led to a second Trump tweet warning that “when the looting starts, the shooting starts,” which Twitter later slapped with a label warning that the post violated its terms of service because it “glorifies violence.”

  • How to Start Planning for Retirement
    Motley Fool

    How to Start Planning for Retirement

    Not sure where to start with your retirement plan? Here's a quick way to estimate your retirement savings needs.

  • Not shopping around for your home loan can cost $52K in extra interest
    MoneyWise

    Not shopping around for your home loan can cost $52K in extra interest

    A new study says be careful, because lenders don't all offer low rates.

  • The Best Movies on Netflix
    Variety

    The Best Movies on Netflix

    As theaters remain shuttered for the foreseeable future, there’s no better time to explore streaming platforms for old favorites and new discoveries. Netflix’s catalog of older releases and its growing volume of original programming both provide reliable sources of entertainment during these times. With no new blockbusters releasing in the imminent future, Netflix offers the […]

  • Germany Reaches EU Deal on $9.9 Billion Lufthansa Bailout
    Bloomberg

    Germany Reaches EU Deal on $9.9 Billion Lufthansa Bailout

    (Bloomberg) -- The German government worked out its differences with the European Commission over a 9 billion-euro ($9.9 billion) bailout of Deutsche Lufthansa AG, clearing the way for the rescue of Europe’s biggest airline to move forward.After intense talks, the commission and the German government agreed that Lufthansa will reduce its presence at airports in Frankfurt and Munich by four aircraft each. The accord, which the airline’s management said it would accept, would give a toehold to new competitors hoping to challenge the dominant German carrier on its home turf.The compromise settles a high-stakes showdown that played out over the past week, pitting the European Union’s most powerful member state against the regulator tasked with ensuring fairness in the bailout process. The economic damage of the coronavirus crisis has unleashed an unprecedented gusher of state aid, led by Germany’s 600 billion-euro ($666 billion) effort to shore up its economy.With Lufthansa’s future in the balance, Germany on Monday offered the carrier a package of loans and equity investment to keep it aloft. But after the EU demanded it give up slots, the airline’s supervisory board unexpectedly held off on accepting this lifeline -- throwing the rescue plan into turmoil after weeks of talks. Ultimately, the EU pared back some of its demands.“There will be worries for Lufthansa about other airlines moving in, but the slot rules would seem to limit the threat,” said John Strickland, director of JLS Consulting in London, who has held senior positions at British Airways and KLM.The EU conditions kick in when airports become congested again, at which point Lufthansa will have to surrender as many as 24 takeoff-and-landing slots at Munich and the same at Frankfurt -- enough for a competitor to base four planes at both airports, each making three daily round-trips.Assessing the DealThere are significant catches, however, that suggest the strongest potential beneficiaries, such as Ryanair Holdings Plc -- a loud critic of the Lufthansa aid -- won’t be able to fully take advantage of the slots.For the first 18 months, for example, the capacity is reserved for new competitors in Frankfurt and Munich. With the global airline industry in retreat, the likelihood of a fresh entrant may be limited.The EU is comfortable with the deal, having overshot in its initial demands in anticipation of a compromise, according to a person familiar with the matter. It’s not certain the remedy will be taken up, but regulators didn’t have time to test the interest, the person said, asking not to be identified on a confidential matter.The commitments will “enable a viable entry or expansion of activities by other airlines at these airports to the benefit of consumers and effective competition,” the EU said in an emailed statement.Talks with the EU over other aspects of the deal will continue, a spokeswoman for Germany’s economy ministry said.The agreement would then require approval of Lufthansa’s supervisory board, followed by a formal signoff by the EU, which polices state aid to ensure one country doesn’t give its companies an unfair advantage.The bloc’s regulators will assess the German aid package “as a matter of priority,” the EU said Saturday.Ryanair, WizzDiscount operators are the most likely to show interest in the new capacity, Strickland said. If the slots had become available before the coronavirus, Lufthansa “would have been concerned about long-haul rivals -- Gulf carriers say -- but that’s really gone now with markets so weak.”Of the two main European discounters, Dublin-based Ryanair already has slots at Frankfurt’s main airport. U.K.-based Easyjet Plc has a presence in Munich. At least initially, each would be unable to use the new capacity in the location where it’s already planted a flag.Another growing low-cost carrier, Wizz Air Holdings Plc, recently pulled out of Frankfurt. In an interview, Chief Executive Officer Jozsef Varadi called the bailout “market distorting,” and said the slots don’t come close to balancing out the amount of aid Lufthansa is getting.He said he’ll consider the capacity on offer, but cautioned it will depend on details including costs, which are higher for point-to-point operators like Wizz because of transfer discounts granted in Frankfurt.“We need to look at whether there is any way of taking advantage of this,” Varadi said. “We need to know more about the process of applying for the slots and what the conditions are, and also what slot pairs we are talking about, the time of day, the rotations.”The slot pairs will be allocated in a bidding process, Lufthansa said, and only be available to European carriers that haven’t received substantial state recapitalization due to the coronavirus pandemic.Market PowerThe supervisory board’s rejection of the initial rescue proposal had triggered an open dispute between the German government and the EU commission, revealing the political tensions underpinning the effort to stabilize Europe’s largest airline in the midst of a historic collapse in travel.The labor-heavy supervisory board saw a threat that jobs would be lost and the market would shift toward the discount airlines, which pay their personnel less.Still, all sides were seeking a breakthrough. Even before the compromise, the board had called the bailout “the only viable alternative for maintaining solvency.”Read more:Vestager Defends Tough Stance on Lufthansa Amid Jobs WarningBailout-or-Bust Dilemma Forces Lufthansa to Call in State RescueMerkel Is Seizing Her Chance to Revolutionize Germany’s Economy“Lufthansa is indeed a very impressive company and they have market power,” EU competition watchdog Margrethe Vestager told reporters in Brussels on Friday. “There is a high risk that if you hold market power” that “competition will be disturbed,” especially when state recapitalizations strengthen a company.The supervisory board wasn’t planning to meet this weekend, but could be called to do so at short notice, people familiar with the matter have said. It may meet on Monday, German newspaper Handelsblatt reported.Shareholder VoteLufthansa’s shareholders would also be called to vote on a proposed capital increase that’s part of the rescue plan at an extraordinary general meeting, most likely toward the end of June, meaning it could be weeks before Lufthansa receives government cash.Like airlines across the world, Lufthansa is fighting for survival as the coronavirus crisis punctures a decades-long aviation boom. The company, which connects Germany’s industrial titans to far-flung export markets, plans to operate fewer aircraft when flights resume and is closing discount arm Germanwings to prepare for what could be years of depressed demand.Lufthansa is also poised to receive some 2 billion euros in aid from Austria, Belgium and Switzerland, where the airline owns units.The German package represents the biggest corporate rescue in the country during the pandemic crisis. It’s also the only one that involves a direct investment by German Chancellor Angela Merkel’s government, but more may be coming. The government set up a 100 billion-euro fund to buy stakes in stricken companies as part of its effort to stabilize Europe’s largest economy.(Updates with consultant’s comments in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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