Bloomberg The European Union (EU) predicted its trade with the rest of the world would slump by 525 billion euros ($570 billion), or almost 10%, this year as a result of the coronavirus pandemic. EU exports of goods and services will drop by 285 billion euros, or 9.2%, while imports of both will decline by 240 billion euros, or 8.8%, ...

Bloomberg President Donald Trump announced a $19 billion bailout package for farmers hurt financially by the coronavirus crisis. The aid plan includes $16 billion in direct payments to farmers to boost their incomes, along with $3 billion in government purchases of meat, dairy products and other foods, the president said at a White House briefing. The Agriculture Department will receive ...

Bloomberg Daimler AG plans to resume US production of Mercedes-Benz luxury SUVs at its factory in Tuscaloosa, Alabama, on April 27 as the German carmaker prepares to gradually ramp up output halted by the coronavirus pandemic. “The company will continue operations in coordination with the respective authorities,” Daimler said in an emailed statement. Appropriate precautions to prevent infections, including cleaning ...

Bloomberg Boris Johnson’s government is seeking to expedite production of a vaccine and drugs to treat Covid-19, both of which are seen as crucial to end nationwide restrictions on citizens’ movement that have brought the UK economy to a near-halt. AstraZeneca Plc and the Wellcome Trust will form part of a new task force to coordinate efforts across academia and ...

Bloomberg Ford Motor Co. took its first drive through the high-yield market in years, looking to shore up liquidity after reporting one of its largest ever quarterly losses. The automaker raised $8 billion of unsecured bonds in three parts. The longest maturity, a 10-year security, will yield 9.625%, after initially being marketed around 11%, according to a person with knowledge ...

Bloomberg Quebec’s efforts to grow fruits and vegetables during freezing winter months have gained new urgency after the coronavirus pandemic exposed risks to supply chains around the world. The Canadian province touted a C$1.3 million ($930,000) investment in an engineering company that outfits farmers to produce strawberries in winter. Premier Francois Legault also called on people who have lost their ...

Bloomberg Days after insisting he had absolute authority to steer the country’s economic recovery from the coronavirus outbreak, President Donald Trump instead handed over the keys to governors and businesses. Trump issued guidelines for states to consider as they decide whether to relax stay-at-home orders and other social-distancing measures enacted to curb the spread of the virus. The brief document ...

Bloomberg Russia recorded its largest daily increase in coronavirus infections, with the new cases rising by almost 5,000 in a single day. New infections jumped by 4,785 to 36,793, the official Russian coronavirus information center reported on its website. Forty people died in the past day, including 21 in Moscow, bringing the number of fatalities to 313. The pace of ...

Bloomberg Hong Kong police arrested 14 people on Saturday on suspicion of organising and participating in an unauthorised assembly in 2019, when months of pro-democracy protests upended life in the city. The police action was connected to unauthorised assemblies on August 18, October 1 and 20 in Hong Kong Island and Kowloon last year, Superintendent Lam Wing-ho said at a ...

Bloomberg Abba Kyari, chief of staff to Nigerian President Muhammadu Buhari and an ardent supporter of state intervention in the economy, has died. His age wasn’t disclosed. “The Presidency regrets to announce the passage of the Chief of Staff to the President, Mallam Abba Kyari,” presidential spokesman Garba Shehu said on Twitter. Kyari had been hospitalised in the commercial capital, ...