International News

Bloomberg The European Union (EU) may need an agency for regulating artificial intelligence (AI) to bolster consumer trust in the technology and help realise its economic potential, a German government official said. Justice Minister Christine Lambrecht made the comment to a European Parliament committee in Brussels on Tuesday while presenting priorities for Germany’s six-month presidency of 27-nation EU through December. She cited ...

Bloomberg France’s decision to give only temporary security approval for fifth-generation mobile equipment shows the government intends to gradually sideline Huawei Technologies Co., a majority party lawmaker said. The head of the country’s cybersecurity agency Anssi said this week it will grant time-limited waivers on 5G for wireless operators that use the Chinese company’s products. The measure will deter them ...

Bloomberg Novavax Inc., one of the front-runners in the race to develop a Covid-19 vaccine, will receive $1.6 billion from the US Operation Warp Speed program to develop its experimental shot. The funds will allow the company to conduct advanced human studies and establish manufacturing to deliver 100 million doses as soon as late 2020, Gaithersburg, Maryland-based Novavax said in ...

Bloomberg Alphabet Inc.’s Google and Deutsche Bank AG have agreed to form a long-term partnership that will see the US technology company provide cloud computing capabilities to Germany’s largest lender. “The partnership with Google Cloud will be an important driver of our strategic transformation,” Deutsche Bank Chief Executive Officer Christian Sewing said in a joint statement on Tuesday, confirming an ...

Bloomberg The risk of a second wave of the coronavirus hitting the European Union makes the speedy approval of the bloc’s 750 billion-euro ($844 billion) relief fund crucial to an economic rebound, Slovenia’s finance minister said. The impact of Covid-19 and the subsequent lockdowns that have sent the EU spiralling into its worst recession in decades will persist into 2021, ...

Bloomberg Prime Minister Boris Johnson is preparing to begin phasing out the use of Huawei Technologies Co. equipment in the UK’s 5G telecommunications networks as soon as this year, reports said. A report from the National Cybersecurity Centre concluded that new US sanctions mean Huawei will have to use untrusted technology, making security risks impossible to control, according to the ...

Bloomberg German factory orders rose less than expected in May even after authorities loosened the coronavirus lockdown, highlighting how difficult it will be to repair the pandemic’s damage. Orders rose 10.4% in May, following a cumulative slump of more than 37% in previous two months. The economy ministry said that while Germany’s industrial recession passed the trough, “the low level ...

Bloomberg European consumers are heading back to shops and restaurants with their pockets full of cash because of government support through the coronavirus pandemic. In the euro area, many people have more savings now than before the crisis hit, according to Bloomberg Economics. In the UK, where eateries reopened at the weekend, consumption may exceed expectations. The upshot is that ...

Bloomberg Britain’s car industry showed signs of improvement in June, spurred by the reopening of showrooms from lockdown measures designed to curtail the spread of Covid-19. Registrations last month totaled 145,377 vehicles, a drop of 35% compared with June 2019, the Society of Motor Manufacturers and Traders said in a statement. Year to date, the tally is still 49% down, ...

Bloomberg Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks. The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release. The latest proposal will include minimum participation ...