International News

Bloomberg The European Union (EU) is set to lay out its blueprint to raise nearly $1 trillion of debt over five years as it seeks to fund its recovery from coronavirus pandemic. The bloc is aiming to issue the first debt under its NextGenerationEU stimulus in June and will use a “state of the art” platform to begin selling bonds ...

Bloomberg Uber Technologies Inc. said gross bookings last month were the highest in a year as vaccination rates increase in the US, encouraging more people to get out of their homes. The company’s mobility unit, which handles ride-hailing services, passed $30 billion in annualised gross bookings run rate in March, Uber said in a securities filing. Average daily bookings rise ...

Bloomberg The French economy is slowing only slightly in April due to the tightening of Covid-19 restrictions, easing concerns that school closures would cause a deeper contraction. The Bank of France said activity will decline to 7% below pre-crisis levels in April after President Emmanuel Macron imposed stricter travel restrictions and ordered schools and nurseries to close. The hit to ...

Bloomberg Denmark will gradually reopen its borders to some countries next month when older Danes are expected to have gotten at least one Covid-19 vaccination shot, the government said. Denmark will be open to vaccinated citizens from European countries as of May 1, the government said. Residents who haven’t gotten a shot but come from European countries with low contamination ...

Bloomberg The UK economy rebounded in February as a mass vaccination program and the prospect of a loosening of coronavirus restrictions lifted consumer confidence. Gross domestic product rises 0.4% following a revised 2.2% decline in January, the Office for National Statistics said. All the main sectors of the economy saw output rise. The economy remains 7.8% smaller than it was ...

Bloomberg Asia’s top ride-hailing startups are pushing ahead with listing plans, as they seek to take advantage of a boom in equity offerings to fund expansion in everything from food delivery to autonomous driving. Beijing-based Didi Chuxing has filed confidentially with the US Securities and Exchange Commission for an initial public offering that could raise several billion dollars, according to ...

Bloomberg Dunzo Digital Private Ltd, a delivery startup backed by Google and operating in eight Indian cities, aims to double the amount of capital it has raised so far to extend its reach across the country and become a $1 billion revenue business in the next two years. The app, which connects low-cost couriers to thousands of individual merchants, has ...

Bloomberg The Indian economy’s recovery is likely to be shaped like a K rather than a V, as rising inequality is poised to hit consumption and growth prospects, the country’s former central bank governor said. “An important consequence of the pandemic has been the sharpening of inequalities,” Duvvuri Subbarao said. “Growing inequalities are not just a moral issue. They can ...

Bloomberg Toshiba Corp’s Chief Executive Officer Nobuaki Kurumatani has seen a sharp drop in support from executives and other employees in internal surveys, according to people familiar with the matter. Employees who have confidence in the CEO fell to less than 60% in an internal January poll, down from more than 90% last year, said the people who asked not ...

Bloomberg A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm. Unemployment touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed the data by Centre for Monitoring Indian Economy Pvt Ltd. The hit ...