International News

Bloomberg Elon Musk said Texas remains in contention for a new factory that will build Tesla Inc.’s Cybertruck. The company’s billionaire chief executive officer provided the update on Twitter late Friday. He said Tesla’s Fremont, California, factory is already at maximum capacity. In March, Musk said Tesla is scouting locations to build both the electric pickup and the Model Y ...

Bloomberg Europe’s five largest automotive markets edged past China in electric vehicle registrations in first quarter of 2020, as China battled the outbreak of the coronavirus and imposed shutdowns countrywide, according to a study by PwC and its strategy consulting subsidiary Strategy&. Germany, France, the UK Italy and Spain collectively registered 79,300 fully electric vehicles between January and March, narrowly ...

Bloomberg Indonesia opted for less punishing social-distancing measures than its neighbors to stem the spread of the coronavirus. Now analysts are warning its economy will take much longer to recover than others in Southeast Asia. With the pandemic’s peak expected in late May, President Joko Widodo is recalibrating his strategy of large-scale social distancing rules and calling for a ramp-up ...

Bloomberg India’s government is allowing smaller neighbourhood stores to reopen, bringing relief to residents after a month into the world’s biggest lockdown that’s restricting 1.3 billion people. The shops can deploy a maximum of 50% of their staff, all wearing masks and following social distancing rules, according to the order issued by the home ministry. The order includes standalone stores ...

Bloomberg Singapore home prices fell less than initially estimated in the first quarter, with an extended lockdown threatening to further push down values as the residential property comes to a standstill. Housing prices fell 1% in the three months ended on March 31, data from the Urban Redevelopment Authority showed. That compares to a preliminary estimate of a 1.2% decline. ...

Bloomberg The Philippines is known for training nurses and exporting them to all corners of the world, but now the nation finds itself shorthanded just as its number of coronavirus infections and deaths skyrocket. The islands’ death toll from Covid-19 has surged nearly fivefold since April 1 to 462, and the confirmed cases have tripled to 6,981 as of April ...

Bloomberg German business confidence extended its slump in April with much of the global economy in lockdown and companies anticipating a prolonged period of subdued demand. The Ifo Institute’s index dropped to a record-low 74.3, well below economists’ median estimate. Reduced spending power from millions of furloughed workers and the persistence of the coronavirus pandemic in some of Germany’s largest ...

Bloomberg President Donald Trump signed a $484 billion spending package that includes more money for small businesses, the latest bid by Washington lawmakers to rescue an economy devastated by the coronavirus pandemic. “Great for small businesses, great for workers,” Trump said in the Oval Office. “This is a tremendous victory.” The new law would revive a small-business loan program that ...

Bloomberg Intel Corp. withdrew its full-year sales forecast, citing “significant economic uncertainty” caused by the Covid-19 pandemic. The company’s shares fell more than 5% in late trading. The world’s largest semiconductor maker reported a 23% jump in first-quarter revenue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machines companies need to keep people working ...

Bloomberg Renault SA is poised to get a state-backed loan of about $5.4 billion to cushion the struggling French carmaker from the impact of the coronavirus pandemic that has clobbered the auto industry. French Finance Minister Bruno Le Maire said the funding package is still under negotiation, while at the same time announcing an even bigger one for Air France-KLM, ...