International News

Bloomberg The UK is preparing a stimulus package to tackle the jump in unemployment due to the coronavirus, with expectations that the jobless rate could soon rise to more than 10%, the Financial Times reported, citing unidentified government officials. Prime Minister Boris Johnson is working with Chancellor of the Exchequer Rishi Sunak on the plan , which is expected to ...

Bloomberg The European Union (EU) plans to revamp its steel-import restrictions to guard against major market distortions as the bloc’s economy recovers from the effects of the pandemic. The proposed changes apply to EU import curbs introduced two years ago to prevent a controversial 25% US levy on foreign steel from diverting global shipments to the European market and flooding it. ...

Bloomberg Twitter Inc. would be welcome to move to France should the social-media platform face an adverse operating environment in the US, French Junior Digital-Affairs Minister Cedric O said in an interview with Radio J on Sunday. “If Twitter would consider at some point that the US circumstances would no longer allow the company to develop according to its values, ...

Bloomberg Covid-19 has derailed the Canadian government’s plan to increase international migration levels this year. In the first release of data that covers the pandemic’s spread into Canada, the number of permanent residents who came to the country in March dropped by 29% from the same period last year, falling to 19,115 during the month. Temporary foreign workers were down ...

Bloomberg Zoom Video Communications Inc. plans to strengthen encryption for paying clients and institutions, but not for users with free accounts, Reuters reported, citing the company’s security consultant Alex Stamos. The company’s plans are subject to change and it is unclear which nonprofit organisations would qualify for such heightened security for video conferences, the report added. The company is trying ...

Bloomberg The Covid-19 pandemic hit right as Ralph McLaughlin, chief economist for Haus Inc., was moving from Washington, DC, to San Francisco. When his company gave employees the option to work anywhere, McLaughlin didn’t hesitate. He chose to work mostly from a mountain home 145 miles from San Francisco and visit his city office “when I need to feed off ...

Bloomberg Canada cut the projected cost of its wage subsidy program while boosting the price tag for direct support to individuals, suggesting a slow return to work in the wake of Covid-19. The federal government’s wage subsidy program, meant to be its flagship measure to buffer the economy from the pandemic, will cost C$45 billion ($33 billion), 38% less than ...

Bloomberg The European Union (EU) said its trade with the rest of the world would slump this year by as much as 868 billion euros ($963 billion), or more than 10%, in a gloomier updated forecast that offers fresh evidence of the global economic damage caused by the coronavirus. EU exports of goods and services will fall by 282 billion ...

Bloomberg Portugal will delay the planned reopening of malls in the Lisbon region after recording new clusters of the coronavirus outbreak. Malls in the area will remain closed until June 4, Prime Minister Antonio Costa said at a press conference. Portugal reported the biggest daily increase in coronavirus cases in three weeks due to new infections in the region. The ...

Bloomberg Argentina and its key bondholders are getting closer to a $65 billion debt restructuring deal after the country defaulted on its overseas debt for the ninth time in its history. While still at odds over several key issues, the latest changes in the proposals by the government and two groups of creditors published signal the difference between both sides ...