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Bloomberg Economists are forecasting the Indian economy to shrink 0.4% in the year to March as a result of steps to contain the coronavirus pandemic, according to the latest survey by Bloomberg News. The forecast has been slashed thrice since February and represents a sharp cut from the 1.7% expansion seen in April, according to the median of 19 economists ...

Bloomberg China is allowing executives from some foreign companies to enter the country despite a coronavirus travel ban as it seeks to restart the economy, according to people familiar with the matter. The Ministry of Commerce told some key foreign companies they can apply for exemptions to the entry ban if they want to get executives back into China, the ...

Bloomberg China is stepping up purchases of soybeans from the US as Brazilian sales start to wane and the Asian nation seeks to meet its pledges under the trade deal with Washington, according to people familiar with the matter. State-run buyers have purchased more than 20 cargoes, or over 1 million metric tons, of American soybeans in the past two ...

Bloomberg The Philippines will keep the capital region that has the most coronavirus infections under a lockdown but it will allow some businesses to reopen in the area as it eases curbs in many parts of the country. President Rodrigo Duterte will put Metro Manila, Laguna province south of the capital and Cebu City in the Visayas under a modified ...

Bloomberg Toyota Motor Corp warned profit will tumble 80% to a nine-year low and predicted it could take another year before global car sales return to pre-virus levels, the latest sign that expectations for a quick economic rebound are fading. Japan’s biggest automaker is targeting operating profit of 500 billion yen ($4.65 billion) for the year through March, the company ...

Bloomberg With the coronavirus pandemic crippling demand for automobiles worldwide, Tata Motors Ltd is worth nothing without its luxury unit Jaguar Land Rover (JLR), according to CLSA Ltd. The $3.7 billion Indian auto company faces a significant increase in debt due to the crisis, and its plan to deleverage may be delayed by four to six quarters, CLSA said. It ...

Bloomberg European funding costs have eased for the first time since a surprise German court ruling last week against the European Central Bank’s bond buying. Three-month Euribor, the rate at which banks lend to each other, ended a three-day rising streak. Funding costs are coming down thanks to the cooling of Italian bond yield spreads, which spiked after the constitutional ...

Bloomberg Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal. The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina ...

Bloomberg Italy’s debt load is so big that the country’s only chance is to get help from the European Union, according to Austrian Chancellor Sebastian Kurz. A chronic economic underperformer, Italy was already heading for a recession before pandemic hit. Now, with European Commission forecasting that GDP will shrink 9.5% this year, Italy’s debt is set to balloon to close to ...

Bloomberg Elon Musk restarted production at Tesla Inc.’s only US car plant, flouting county officials who ordered the company to stay closed and openly acknowledging he was risking arrest for himself and his employees. “I will be on the line with everyone else,” the chief executive officer said in a tweet. “If anyone is arrested, I ask that it only ...