* Shanghai shares hit 5-year high on service sector recovery. * U.S. payrolls jump 4.8 mln but hurdles lie ahead. * European markets see subdued end to week. * Copper on best weekly run in nearly three years. * Rising U.S. COVID-19 cases threaten U.S. recovery. * Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * By Marc Jones.
Travel insurance policies will adapt to include provisions that allow travel overseas to selected countries under newly relaxed quarantine rules, British transport minister Grant Shapps said on Friday. "I think what we will find from discussions with the travel industry and insurers is that the insurance market will adjust to put provisions in for those countries," he told Times Radio.
Japan's services sector extended activity declines for a fifth straight month in June, although the pace of contraction slowed significantly after a nationwide state of emergency was lifted, easing disruptions to businesses.
Brazil's Treasury said on Thursday that the public sector will have to generate an average annual primary surplus of 1.76% of gross domestic product in the 2021-29 years if gross debt at the end of that period is to get back to where it was last year.
Brazil's government revised its 2020 fiscal outlook on Thursday, and now projects significantly higher levels of debt and wider deficits as the COVID-19 crisis prompts increased emergency spending measures and hammers tax revenues.
The Kenyan shilling is expected to trade on the back foot next week while that of Tanzania is seen strengthening and the Nigerian, Ugandan and Zambian currencies holding steady. KENYA. The Kenyan shilling could come under pressure in the coming week due to U.S. dollar demand from the energy and manufacturing sector outweighing inflows from remittances and horticulture exports, traders said.
American Airlines (AAL) on Thursday forecast a 25% drop in its long-haul international summer capacity in 2021 over 2019, as the carrier curtails operations to cope with a slump in travel demand because of the COVID-19 pandemic. The company will also discontinue several international routes that were once popular leisure destinations but are now expected to see decreased demand.
- American Airlines (AAL) on Thursday forecast a 25% drop in its long-haul international summer capacity in 2021 over 2019, as the carrier curtails operations to cope with a slump in travel demand because of the COVID-19 pandemic. The company will also discontinue several international routes that were once popular leisure destinations but are now expected to see decreased demand.
- Major automakers posted lower U.S. monthly or quarterly new vehicle sales on Wednesday due in large part to weak fleet orders, but said consumer demand remained robust despite the ongoing coronavirus pandemic.
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