International News

Bloomberg The Danish economy may lose more than 190 billion kroner ($28 billion) this year, the equivalent of 8.3% of gross domestic product, as a result of a slowdown in economic activity, according to a business survey conducted by the Confederation of Danish Industry. The figure is up from an estimate of 155 billion kroner four weeks ago, according to ...

Bloomberg International Business Machines Corp. (IBM) reported a drop in first-quarter revenue and pulled its profit forecast for the year, signalling that the Covid-19 pandemic has become another hurdle for the company in its transition to cloud computing. Sales declined 3.4% to $17.6 billion in the period that ended March 31, the Armonk, New York-based company said in a statement. ...

Bloomberg UK jobless claims increased last month as the coronavirus pandemic began to have an impact on the labour market. Claims rose 12,200 compared with a 5,900 gain in February, the Office for National Statistics said on Tuesday. The claimant count rate rose to 3.5%, the highest since the start of 2014. Unemployment is sure to keep rising after the ...

Bloomberg French automaker PSA Group posted a 16 percent slump in first-quarter sales and forecast the European market will shrink by a quarter this year as the coronavirus pandemic slams the car industry. The company has secured liquidity and cut costs, Chief Financial Officer Philippe de Rovira said in the statement on Tuesday, adding that it is preparing for a ...

Bloomberg Uber Technologies Inc. won approval to serve as a business vendor to the US government, allowing the company to vie for an estimated $810 million in spending over the next five years. Politicians and campaigns have for years relied on Uber for rides to and catering for their events, but the decision is the first clearance for federal agencies ...

Bloomberg An Indonesian maker of clothes for Prada and Armani is now producing millions of hazardous material suits after the government called for help fighting Covid-19. PT Pan Brothers, which also makes garments for Adidas, is pumping out jumpsuits along with millions of face-masks each week, many of then headed to front-line workers. While the focus has been on domestic ...

Bloomberg India has banned use of air ambulances and other medical evacuations unless the treatment required is not available locally, as a nationwide lockdown to curb the spread of the coronavirus is extended, according to people with knowledge of the matter. Planes carrying patients will only be allowed to fly if local authorities determine treatment isn’t available at the point ...

Bloomberg Indonesian President Joko Widodo called for an urgent expansion of testing and aggressive containment measures to prevent the spread of coronavirus that’s killed almost 600 people in the world’s fourth-most populous nation. Large scale testing nationwide should be followed by aggressively tracking and isolating those exposed to the deadly disease, Jokowi, as the president is known, told a cabinet ...

Bloomberg China urged India to revise new investment rules that seek to block companies from neighboring nations taking over local businesses, saying they’re in violation of principles laid down by the World Trade Organization. The curbs seeking to cut the risk of opportunistic takeovers as the coronavirus outbreak drives down valuations of Indian companies “go against the general trend of ...

Bloomberg While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation, predicting how they are likely to perform in the future has never been so hard. The uncertainty stemming from the virus and countries’ efforts to contain it have made it harder to estimate short-term earnings than at any other ...