International News

Bloomberg Quest Ventures, a Singapore venture capital firm, said it completed the first close of a planned $50 million fund. Quest, founded by James Tan, raised the money from investors including Pavilion Capital of Singapore and QazTech Ventures of Kazakhstan. It’s the firm’s second venture fund and its first time tapping institutional investors, after Tan financed the first fund with ...

Bloomberg Coronavirus cases in Singapore soared past the 5,000 mark as authorities detected more infections among foreign workers. Authorities said an additional 623 cases were confirmed on April 17 , bringing the total to 5,050 in the country, according to the health ministry’s statement. The majority of the cases are tied to facilities that house low-wage migrant workers in close ...

Bloomberg The European Union (EU) predicted its trade with the rest of the world would slump by 525 billion euros ($570 billion), or almost 10%, this year as a result of the coronavirus pandemic. EU exports of goods and services will drop by 285 billion euros, or 9.2%, while imports of both will decline by 240 billion euros, or 8.8%, ...

Bloomberg President Donald Trump announced a $19 billion bailout package for farmers hurt financially by the coronavirus crisis. The aid plan includes $16 billion in direct payments to farmers to boost their incomes, along with $3 billion in government purchases of meat, dairy products and other foods, the president said at a White House briefing. The Agriculture Department will receive ...

Bloomberg Daimler AG plans to resume US production of Mercedes-Benz luxury SUVs at its factory in Tuscaloosa, Alabama, on April 27 as the German carmaker prepares to gradually ramp up output halted by the coronavirus pandemic. “The company will continue operations in coordination with the respective authorities,” Daimler said in an emailed statement. Appropriate precautions to prevent infections, including cleaning ...

Bloomberg Boris Johnson’s government is seeking to expedite production of a vaccine and drugs to treat Covid-19, both of which are seen as crucial to end nationwide restrictions on citizens’ movement that have brought the UK economy to a near-halt. AstraZeneca Plc and the Wellcome Trust will form part of a new task force to coordinate efforts across academia and ...

Bloomberg Ford Motor Co. took its first drive through the high-yield market in years, looking to shore up liquidity after reporting one of its largest ever quarterly losses. The automaker raised $8 billion of unsecured bonds in three parts. The longest maturity, a 10-year security, will yield 9.625%, after initially being marketed around 11%, according to a person with knowledge ...

Bloomberg Quebec’s efforts to grow fruits and vegetables during freezing winter months have gained new urgency after the coronavirus pandemic exposed risks to supply chains around the world. The Canadian province touted a C$1.3 million ($930,000) investment in an engineering company that outfits farmers to produce strawberries in winter. Premier Francois Legault also called on people who have lost their ...

Bloomberg An app launched by Prime Minister Narendra Modi’s government to track and contain the spread of the coronavirus is the fastest ever to reach 50 million users, while being dogged by privacy concerns. Aarogya Setu — Hindi for Healthcare Bridge — alerts users if they come in contact with an infected person and informs them about health services they ...

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) is sticking with plans for aggressive capital investments in 2020, a sign from the technology bellwether of resilient demand despite a pandemic-induced downturn. TSMC, a barometer for the tech industry thanks to its heft in the global supply chain, on Thursday lowered its revenue outlook for the year by a few percentage points to ...