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Bloomberg Factory output across several Asian countries slumped to record lows in April, signaling a deeper contraction in the world’s manufacturing hub even as China begins restarting some operations. Purchasing managers indexes across Southeast Asia slumped further below 50, the dividing line between contraction and expansion, to post their weakest readings since the series began, according to data released by ...

Bloomberg Sugar mills in Indonesia called on consumers to reduce consumption after shortages pushed retail prices to the highest in almost four years. Their plea comes as the world’s top sugar buyer faces challenges importing the sweetener due to tight global supplies and countries’ restrictions to prevent spread of virus, said Yadi Yusriyadi, senior adviser at Indonesian Sugar Association.

Bloomberg Leyou Technologies Holdings Ltd has received a new non-binding takeover offer from a Shenzhen-listed rival gaming firm, according to people familiar with the matter. Zhejiang Century Huatong Group Co and Leyou’s controlling shareholder Charles Yuk are in talks after signing a memorandum of understanding, the people said. Century Huatong will likely kick off due diligence soon, said the people, ...

Bloomberg The trial of Malaysia’s former leader Najib Razak for his alleged role in 1MDB will resume next week as the country relaxes its lockdown. All relevant parties including Najib have been told to attend court on May 13, said Deputy Public Prosecutor Ahmad Akram Gharib. The country allowed nearly all sectors of the economy to reopen starting on Monday ...

Bloomberg Hong Kong’s downturn is now the worst on record, extending the first recession seen in a decade as the coronavirus outbreak further battered an economy already weakened by political unrest. The city’s economy contracted 8.9% in the first quarter from year-ago levels, according to advance government data. The decline surpasses the previous record of -8.3% in the third quarter ...

Bloomberg European manufacturing will take a long time to overcome the damage caused by the coronavirus, after suffering an unprecedented slump in April. In its monthly report on factories, IHS Markit said the recovery from shutdowns will be “frustratingly slow.” With economies still not running at full speed for some time, that means businesses and jobs will remain under threat. ...

Bloomberg Telefonica SA and John Malone’s Liberty Global Plc have never been closer to finally creating the UK’s biggest telecom operator after flirting with various combinations over the years. Racing for a potential announcement as early as this week, talks hinge in part on striking equal control for the merger of O2 and Virgin Media, while structuring a deal that’ll ...

Bloomberg Canada officially entered a recession in the first quarter of 2020, according to the C.D. Howe Institute. Preliminary data for the first quarter showed a deep contraction in economic activity coupled with a weakening labour market. This was enough to suggest the country fell into a recession, the report said. The institute concluded that Canada hit the peak of ...

Bloomberg UK business confidence slumped the most on record last quarter as financial leaders said they see no quick recovery from the coronavirus downturn. On average, the 104 chief financial officers (CFOs) in Deloitte’s quarterly survey said they expect revenues this year to be more than a fifth lower than previously anticipated. Most said they do not see demand recovering ...

Bloomberg The UK risks failing to recruit the 50,000 customs agents the logistics industry says are needed before Britain’s final parting with the European Union, spelling potential chaos at the country’s busiest border. The coronavirus hampered efforts to train staff to handle the extra paperwork firms will need to complete after the UK exits the EU’s customs union at the ...