Bloomberg Myanmar reported 70 new coronavirus infections on Wednesday, the highest one-day tally since the virus was first detected in the country on March 23, according to the Ministry of Health and Sports. There had been no local transmissions between July 16 and August 16, with about 200 infections detected since then. The majority of cases are residents of Sittwe, ...

Bloomberg Germany extended a program that has kept millions of people from losing their jobs, allocating around 10 billion euros ($11.8 billion) more to help Europe’s biggest economy recover from the coronavirus crisis. At a meeting in Berlin, Chancellor Angela Merkel’s coalition agreed to provide job-preserving subsidies until the end of 2021. The subsidies, known in German as “Kurzarbeit” and ...

Bloomberg More than $54.3 billion in US commercial mortgage backed securities have been transferred to loan workout specialists mostly because of payment delinquencies, a 320% increase since the start of the Covid-19 pandemic, according to Moody’s Investors Service. Hotel and retail properties, the sectors hit hardest by restrictions on travel and public gatherings to reduce virus transmissions, make up the ...

Bloomberg WorldRemit Ltd., a UK online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking. The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more than $1.5 billion, according to ...

Bloomberg France’s government gave further hints on Wednesday about the contents of its 100 billion-euro ($118 billion) plan to boost the economy as it seeks to reassure the country it has the situation under control. Measures will include 2 billion euros for cultural sector, Prime Minister Jean Castex said in an interview on France Inter radio. Initially due earlier this ...

Bloomberg Wirecard AG will eliminate more than half of its staff, about 730 jobs, and make other “far-reaching cuts” to preserve cash as a Munich court opened insolvency proceedings against embattled German payments company. The court named lawyer Michael Jaffe to be permanent administrator in a statement. The current supervisory board will surrender its control of the company and may ...

Bloomberg British supermarkets will be banned from selling beef, soy and other key commodities sourced from illegally deforested land, under new government plans. Large businesses operating in the UK will have to show that commodities including soy, cocoa and palm oil, sourced in their supply chains complied with local environmental laws when being produced. Companies that fail to do so ...

Bloomberg The global rally in stocks slowed to a crawl as investors mulled its recent pace and reviewed expectations for loose monetary policy. US and European government bonds declined. The Stoxx Europe 600 Index drifted higher on gains in Germany’s market after the country extended a program that has kept millions of people from losing their jobs in Europe’s biggest ...

Bloomberg South Korean stocks and the currency could come under pressure as policy makers consider stricter social-distancing measures and a lockdown amid a flare-up in Covid-19 cases. Such concerns saw the benchmark Kospi index and the won slip early on Wednesday, although losses were pared after a senior health ministry official denied market rumours that authorities will raise social-distancing rules ...

Bloomberg Automaker stocks gained in India after the government said it will look into cutting taxes on some vehicles. The overall market was little changed. A measure of automotive stocks climbed 1.5%, the most among 19 industry groups, while the benchmark S&P BSE Sensex Index was little changed as of 11:36 am in Mumbai. Hero Motocorp Ltd. led peers higher, ...