International News

Bloomberg About a 40-minute drive to the east of China’s capital, Beijing Aeonmed Co has been working around the clock since January 20. After meeting the country’s needs two weeks ago, its factory lines have been working flat out on orders from overseas for its lifesaving ventilators. With three shifts and even research and development staff working the production line, ...

Bloomberg The International Monetary Fund (IMF) said it expects a global recession this year that will be at least as severe as the downturn during the financial crisis more than a decade ago, followed by a recovery in 2021. Nearly 80 countries have asked the Washington-based IMF for emergency finance, Managing Director Kristalina Georgieva said in a statement following a ...

Bloomberg AT&T Inc. is in discussions with banks for a new $5 billion term loan as it seeks alternative short-term financing options following a spike in commercial-paper costs, according to people familiar with the matter. The talks are still in flux and details may change, said the people, who asked not to be named because the discussions are private. The ...

Bloomberg The UK has pledged more fiscal stimulus to fight the economic fallout from the coronavirus than during the global financial crisis a decade ago, underscoring the scale of the threat posed by the pandemic. Prime Minister Boris Johnson’s government has allocated a total of almost 57 billion pounds ($66 billion) in direct support since the budget on March 11, ...

Bloomberg Germany’s economy is heading for a steep recession as attempts to slow the outbreak of the coronavirus pandemic sent the services sector into an unprecedented slump. IHS Markit’s gauge of manufacturing and services activity plunged in March. It signals GDP in euro area’s biggest economy could drop by around 2% in first quarter — with worse to come. “The ...

Bloomberg Canada’s economic heartland is shutting down as Ontario and Quebec step up efforts to slow down the coronavirus outbreak. The two provinces, which together account for about 57% of the country’s economy, have ordered non-essential businesses to close by the end of Tuesday. The order is set to run for two weeks in Ontario and three in Quebec. “We’re ...

Bloomberg Twitter Inc. slashed its revenue forecast and warned of a loss for the current quarter, citing a decline in advertisers’ spending on its social network during the coronavirus outbreak. First-quarter sales will be down “slightly” year-over-year, compared with analysts’ average estimate for growth of 11%, according to a Bloomberg survey. San Francisco-based Twitter said it expects to incur an ...

Bloomberg Continental Europe’s labour-market model is experiencing rare praise from economists because it may help prevent massive job losses during the coronavirus pandemic. While widespread layoffs are feared in the US, analysts don’t expect the same fallout in euro-area employment, where rules often make it harder for companies to fire workers, and also encourage their retention during a crisis. Such ...

Bloomberg China’s wireless carriers are reporting drops in users as the coronavirus crisis cuts business activity, with China Mobile Ltd, the world’s largest carrier, reporting its first net decline since starting to report monthly data in 2000. China Mobile subscriptions fell by more than 8 million over January and February, data on the company’s website show. China Telecom Corp has ...

Bloomberg China’s government is talking up the prospects for a rapid economic rebound from the coronavirus, even as the global economy sees further lockdowns to curb the spreading disease. Since March 20, the premier, who leads economic policy making, and a senior central-bank official, have pointed to the control of the outbreak and the resumption of activity as reasons for ...