International News

Bloomberg The Philippines’ renewed surge in coronavirus infections will have limited impact on the economy as authorities impose localised lockdowns and as vaccinations pick up, Economic Planning Secretary Karl Chua said. The Southeast Asian nation, which will likely remain in recession this quarter, has to manage the spike in cases without reinstating stricter movement curbs which will hurt jobs, Chua ...

Bloomberg Indonesia, a top supplier of a key battery metal, will aim to boost sales of electric vehicles with a new regulation that will cut tax breaks for hybrid cars. Battery-powered electric vehicles will retain their 0% luxury tax rate, while plug-in hybrid vehicles will see their tariff increase to 5% from 0%, according to a draft regulation issued by ...

Bloomberg A group of European Union (EU) nations that count tourism as a significant industry is pushing for a relaxation of rules on traveling to the bloc from the rest of the world, according to diplomats. The EU imposed a blanket ban on non-essential travel from most countries last March in a bid to stem the spread of Covid-19. But ...

Bloomberg Spain’s government approved an 11 billion-euro ($13 billion) plan to help companies pay down debts accumulated during the pandemic, Economy Minister Nadia Calvino said. The package, which has three parts, will leave companies better poised for the economic recovery, Calvino told journalists during a televised news conference. The announcement is the latest example of how European governments are accelerating ...

Bloomberg US consumer sentiment improved in early March by more than forecast, reaching a one-year high as more vaccinations and fiscal relief boosted optimism in the economic outlook. The University of Michigan’s preliminary sentiment index jumped to 83 from 76.8 in February, data showed. The figure exceeded the median projection of 78.5 in Bloomberg’s survey of economists. “The data indicate ...

Bloomberg UK Prime Minister Boris Johnson is working on a major overhaul of one of his government’s most important climate change policies after it failed to deliver. With a budget of 2 billion pounds ($2.8 billion), the Green Homes Grant program launched in September to provide vouchers for homeowners to help pay for insulating their properties and switch to low ...

Bloomberg Apple Inc.’s stock could reach a market capitalisation of $3 trillion, analysts say, citing the development of the Apple Car as well as high expectations for the next iPhone. Citigroup Inc. and Wedbush see potential for the tech giant to hit the milestone, an increase that implies an almost 50% surge from last week’s close. With a market cap ...

Bloomberg Telefonica SA may defy expectations for an outright sale of its submarine cables and bring in investors to share ownership of the business instead. The Spanish phone company has been working with advisers to gauge interest from potential buyers. It was hoping to offload the business for about 2 billion euros ($2.4 billion), according to media reports last year. ...

Bloomberg Officials at the International Monetary Fund (IMF) see some benefit in delaying a $45 billion agreement with Argentina after the nation’s midterm election in October, with talks yielding little progress six months after they began, according to people familiar with the situation. While IMF negotiators prefer to hash out a deal with Argentina as soon as possible, some see ...

Bloomberg Investors rushed back into Tesla Inc. shares, putting a screeching halt to a five-day slump, and pushing the stock to its biggest gain in more than a year. A steady stream of positive news — including an upgrade from a Wall Street analyst, a rally in the cryptocurrency Bitcoin and a broader turn in sentiment toward high-multiple technology stocks ...