Bloomberg Prime Minister Justin Trudeau said Canada will introduce a “significant” fiscal stimulus package, as part of a coordinated effort with other Group of Seven countries to counter the virus-driven global economic slowdown and calm markets. Finance Minister Bill Morneau and Bank of Canada Governor Stephen Poloz were due to hold a press conference in Ottawa, along with Jeremy Rudin, ...

Bloomberg Hundreds of high-risk companies in Europe need to repay or refinance nearly $100 billion in the coming months, a prospect that becomes more daunting by the day amid the relentless collapse in credit markets. From Germany’s Thyssenkrupp AG to Telecom Italia, around 600 European high-yield and non-rated bond borrowers have $92.5 billion bonds maturing by the end of 2021, ...

Bloomberg Co-working startup the Wing will close all locations, taking precautions following the global spread of the coronavirus. The company, whose offerings focus on women, has 11 branches in the US and London. Offices will remain closed through at least March 31, the startup said. The announcement follows moves at many other companies asking employees to stay home. Amazon.com Inc., ...

Bloomberg Instagram plans to sell advertisements in IGTV, its home for longer videos, a bid to compete with YouTube for a larger share of the booming market for online video. Instagram started reaching out to its top video creators, asking them to partner on ad tests. Those in the program will receive a 55% share of all advertising in IGTV, ...

Bloomberg Tesla Inc. will probably sell about 10% fewer cars this year than previously expected as the coronavirus outbreak weighs on demand for vehicles, Morgan Stanley said. The bank slashed its 2020 sales target for Tesla to deliver 452,000 cars from the previous estimate of 500,000, according to a note to clients. Morgan Stanley reduced its price target on the ...

Bloomberg Detroit’s three automakers are asking office employees to work remotely while pushing production staff to keep running many of their factories — including one where a worker tested positive for the coronavirus. Fiat Chrysler Automobiles NV’s salaried personnel, including 14,000 at its US headquarters north of Detroit, were told to work from home, a spokesman said. A transmission factory ...

Bloomberg House Speaker Nancy Pelosi and President Donald Trump haven’t spoken in months, but the California Democrat seized the initiative to strike a deal with the White House on a broad measure aimed at helping Americans cope with the spiraling effects of the coronavirus outbreak. After Trump didn’t deliver on a promised announcement of a “major” economic stimulus package, Pelosi ...

Bloomberg The US is “fairly certain” that there are coronavirus cases in North Korea, despite denials by Pyongyang, because of a lack of military activity, according to a senior American army commander. North Korea’s military has “fundamentally been on lockdown” for almost a month and didn’t fly a single aircraft for 24 days before resuming its routine training, Commander of ...

Bloomberg Slovenia’s parliament approved a new government led by nationalist Janez Jansa, adding him to the pantheon of anti-immigrant populists who’ve taken power in the European Union’s east. Jansa, a former prime minister and close ally of Hungarian leader Viktor Orban, will inaugurate his third government since 2004 in the midst of a coronavirus outbreak that’s threatening, like in other ...

Bloomberg Ivory Coast’s ruling party named Prime Minister Amadou Gon Coulibaly as its candidate for this year’s presidential election. The 61-year-old had been widely expected to succeed President Alassane Ouattara, who last week ruled out seeking a third term as head of the world’s biggest cocoa grower. Opposition parties have yet to announce their candidates for the October 31 ballot. ...