Bloomberg Prime Minister Viktor Orban said other European Union leaders had rejected his proposal to speed up an ongoing rule of law procedure against Hungary, complicating talks to secure a deal on the bloc’s emergency pandemic funding. Hungary is against a Dutch motion that would require countries taking grants to agree to be bound by the rule of law, Orban ...

Bloomberg Foreign Secretary Dominic Raab signalled the UK will join its international allies in suspending an extradition treaty with Hong Kong after China imposed a national security law on the former British colony. Raab told Sky News he would update Parliament on Monday on the UK’s extradition arrangements with Hong Kong, less than a week after the nation banned the ...

Bloomberg European Union (EU) leaders meeting in Brussels were fighting to close a deal for a 750 billion-euro stimulus package as fiscally hawkish countries from the North tried to strip the plan of much of its firepower. While the Dutch government welcomed a new proposal unveiled that cut the amount of grants in the program to 450 billion euros from ...

Bloomberg The British government privately told Huawei Technologies Co. that the decision to ban the company’s equipment from the UK’s 5G networks stemmed partly from pressure by the US, the Observer reported, without saying how it got the information. British officials gave the Chinese company the impression that the decision could be reviewed, perhaps if US President Donald Trump fails ...

Bloomberg Mexico’s economy recovery will take longer than expected and will depend on evolution of coronavirus pandemic, Finance Minister Arturo Herrera said. International consensus was for a two-month lockdown followed by a fast economic recovery, Herrera said during a virtual meeting of G20 finance ministers and central bank governors. “The recovery horizon will be longer, as long as a vaccine ...

Bloomberg Prime Minister Boris Johnson’s chief scientific adviser acknowledged there were failings in the UK’s response to the coronavirus pandemic, and said some decisions will turn out to have been wrong. “It’s clear that the outcome has not been good in the UK,” Patrick Vallance told the House of Commons Science and Technology Committee hearing. “There will be decisions made ...

Bloomberg EBay Inc. would prefer to keep a stake in the classified advertising business it’s selling, according to reports, lessening the chances Prosus NV will win the hotly-contested auction. The decision at a board meeting gives a surprise boost to a bid from Norwegian online marketplace Adevinta ASA, which offered a mix of cash and stock and would leave EBay ...

Bloomberg With job cuts mounting and costly furlough programs that can’t last forever, Europe is at risk of a devastating increase in unemployment that won’t be easy to reverse. Economies across the continent are recovering and company sentiment is brightening, but it’s a different story when it comes to hiring. After months of crisis, the outlook remains too uncertain for ...

Bloomberg In a global market where hardly anything made sense this year, one trend seems to be supported by economic reality: Asian stocks’ outperformance versus the rest of the world driven by the region’s better containment of the coronavirus. The MSCI Asia Pacific Index is set to beat the S&P 500 and the MSCI Europe Index for a second straight ...

Bloomberg China took a further step in integrating its fragmented bond markets, a move which analysts say could reduce complexity and attract foreign investors. Bond traders on interbank market and stock exchanges can now trade bonds listed on both venues, the People’s Bank of China and the China Securities Regulatory Commission said in a joint statement Sunday. The regulators will ...