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Bloomberg Singapore, which is looking to increase virus testing fivefold among its population, faces a global shortage of some test kits and materials, according to its health minister. The city-state has to be “mindful” there’s a worldwide shortage, and therefore “we have to ensure that we have a continued supply and stock of these materials to allow us to continue ...

Bloomberg Thailand reported one additional novel coronavirus case and no new deaths, in a further indication that its outbreak is ebbing. The country has conducted more than 200,000 tests for the pathogen, Taweesilp Witsanuyotin, a spokesman for the Covid-19 centre, said. The overall number of detected infections stands at 2,988. Fatalities have remained at 54 for about a week. Thailand ...

Bloomberg Singapore’s Ninja Van has raised $279 million from backers including France’s GeoPost SA and ride-hailing giant Grab Holdings Inc, scoring one of Southeast Asia’s largest startup investments since Covid-19 was declared a pandemic. Facebook co-founder Eduardo Saverin’s B Capital Group and Monk’s Hill Ventures were among those that took part in the parcel delivery firm’s Series D round, completed ...

Bloomberg Treasury Secretary Steven Mnuchin plans to boost US borrowing from April through June by an unprecedented $3 trillion to support an economy entering a recession caused by the coronavirus. The Treasury said the increase is driven by new stimulus spending legislation and tax receipt deferrals, steps taken to help the economy overcome social distancing measures that shuttered businesses. Privately ...

Bloomberg The world appears to have reached the limit of its tolerance for economic disruption. Even as the novel virus continues to put lives at risk, governments around the world are beginning the process of reopening. More than $7 trillion has been committed to relief efforts just in the past three months, and many more trillions will need to be ...

Bloomberg Microsoft Corp. delayed the introduction of a foldable, dual-screen Surface laptop that had been planned for the holiday season, saying it will focus the new Windows 10X operating system on single-screen devices like tablets and notebook PCs. “Single-screen devices will be the first expression of Windows 10X that we deliver to our customers,” Panos Panay, chief product officer of ...

Bloomberg European governments have had to spend big to protect workers during the coronavirus restrictions, but the huge burden on the public finances looks like it’s worth it. More than 40 million workers have been furloughed during the shutdowns, based on data from the region’s biggest economies, getting a portion of their pay covered by the state. Without the government ...

Bloomberg As Covid-19 business disruptions continued to mount through April, more top executives grew worried about corporate liquidity and long term survival, according to surveys conducted by the consultancy firm West Monroe. “The fear is that as businesses are forced to alter their operations overnight, they take drastic measures, cease communications, and go dark on suppliers and vendors,”said Kevin McCarty, ...

Bloomberg Some of London’s most influential investors are giving UK companies extra time to find new board members because of the coronavirus crisis, potentially offering a group of long-standing chairmen an unexpected extension to their careers. Legal & General Investment Management (LGIM) will allow London-listed companies an additional 12 months to replace directors coming to the end of their recommended ...

Bloomberg National Public Radio (NPR) is cutting pay and benefits in a bid to “save jobs and support the future of NPR” after the coronavirus pandemic ballooned its projected losses to as much as $53 million over the next two years. Employees’ base pay will be reduced on a sliding scale of up to 9% through Sept. 30 and workers ...