International News

Bloomberg More than $54.3 billion in US commercial mortgage backed securities have been transferred to loan workout specialists mostly because of payment delinquencies, a 320% increase since the start of the Covid-19 pandemic, according to Moody’s Investors Service. Hotel and retail properties, the sectors hit hardest by restrictions on travel and public gatherings to reduce virus transmissions, make up the ...

Bloomberg WorldRemit Ltd., a UK online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking. The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more than $1.5 billion, according to ...

Bloomberg France’s government gave further hints on Wednesday about the contents of its 100 billion-euro ($118 billion) plan to boost the economy as it seeks to reassure the country it has the situation under control. Measures will include 2 billion euros for cultural sector, Prime Minister Jean Castex said in an interview on France Inter radio. Initially due earlier this ...

Bloomberg Wirecard AG will eliminate more than half of its staff, about 730 jobs, and make other “far-reaching cuts” to preserve cash as a Munich court opened insolvency proceedings against embattled German payments company. The court named lawyer Michael Jaffe to be permanent administrator in a statement. The current supervisory board will surrender its control of the company and may ...

Bloomberg British supermarkets will be banned from selling beef, soy and other key commodities sourced from illegally deforested land, under new government plans. Large businesses operating in the UK will have to show that commodities including soy, cocoa and palm oil, sourced in their supply chains complied with local environmental laws when being produced. Companies that fail to do so ...

Bloomberg Oil gained towards $43 a barrel as Laura was predicted to become a major hurricane, menacing crude production and refineries in the US Gulf. Futures in New York edged higher, though gains were outpaced by the global Brent benchmark. Tropical Storm Laura is expected to make landfall on Thursday as a Category 3 hurricane with winds as strong as ...

MADRID / WAM The UN Secretary-General Antonio Guterres released on Tuesday a thematic brief on the impact the pandemic has had on tourism. Drawing on the latest data from the World Tourism Organisation, the lead author of the publication, it warns that as many as 100 million direct tourism jobs are at risk, and massive drop in export revenues from ...

Bloomberg Several of Alibaba Group Holding Ltd’s biggest investors have converted billions of dollars in US shares for Hong Kong stock in part to avoid potential US sanctions and de-listings of major Chinese technology companies. Temasek Group Holdings Pte, Baillie Gifford & Co, and Matthews Asia are among the major shareholders that have swapped stakes in the Chinese e-commerce giant ...

Bloomberg Thailand is cautiously looking at plans to reopen its borders as it struggles to survive an extended period without international visitors, who account for about two-thirds of the country’s tourism income. “The virus won’t go away soon and we have to think about the economy. But we can’t just reopen the borders. We have to be careful,” Transport Minister ...

Bloomberg India’s coronavirus infections crossed the three-million mark as the outbreak accelerates through the world’s second-most populous country. Infections rose by more than 69,000 and now stand at 3,044,940, according to data released by health ministry on Sunday. About 56,706 people have died from the disease. India’s epidemic is one of the fastest-growing in the world with more than 65,000 ...