News

Bloomberg Sweden’s unemployment rate rose more than expected in April as the effects of the Covid-19 crisis continued to wreak havoc across the Nordic region’s biggest economy. The seasonally-adjusted jobless measure increased to 7.9% from 6.7% a month earlier, Statistics Sweden reported. Economists were expecting a rate of 7.8%, according to the median of seven estimates from a Bloomberg survey. ...

Bloomberg Hertz Global Holdings Inc., the car-rental company which filed for bankruptcy, said the collapse in air travel amid the coronavirus hit its biggest source of rental revenue. “The overall impact of the Covid-19 crisis devastated our revenue,” according to a court filing signed by Jamere Jackson, an executive vice president and chief financial officer of Hertz. The company, whose ...

Bloomberg Aston Martin Lagonda Global Holdings Plc is poised to replace Chief Executive Officer Andy Palmer with the head of Daimler AG’s Mercedes-AMG performance division, according to people familiar with the matter. AMG head Tobias Moers could be named as Aston Martin’s new CEO as soon as this week, the people said, asking not to be named because the matter ...

Bloomberg German businesses are counting on an improvement in the economy in the second half after the coronavirus pandemic depressed private spending and investment and plunged the economy into a recession. Companies surveyed by Ifo showed cautious optimism in May, with a gauge of expectations rising after the previous month’s plunge. A full-fledged recovery though is still a long way ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has congratulated President His Highness Sheikh Khalifa bin Zayed Al Nahyan, on the occasion of Eid al-Fitr. He wished President His Highness Sheikh Khalifa good health and well-being to continue the nation’s development drive, ...

Bloomberg Oil fell, paring a weekly gain, as investors weighed improving supply fundamentals against doubts surrounding China’s economic growth. Futures in New York slid 2% but notched a 13% increase for the week. Major producers continue to scale back production. US explorers laid down another 21 oil rigs, bringing the total to the lowest since 2009. Beijing abandoned its economic ...

Bloomberg China’s banking regulator is asking big banks to maintain annual growth of at least 5% in outstanding loans to the manufacturing sector, the Shanghai Securities News reported on Saturday. By the end of 2020, the ratio of mid-to-long term loans to the sector should rise by 1 percentage point compared to the start of the year, the newspaper reported, ...

NEW YORK / WAM UN Secretary-General Antonio Guterres has saluted the efforts of the Higher Committee of Human Fraternity for the 14 May Global Prayer for Humanity, “as inspired by the interfaith leadership of His Holiness Pope Francis, the Grand Imam of Al Azhar Sheikh Ahmed Al Tayeb, and many others.” In a statement following a virtual meeting with the ...

Bloomberg Indian Railways will start 200 additional trains from June 1 to ferry passengers as the nation gradually eases coronavirus lockdown restrictions. Tickets will be sold online and through physical booking windows, Vinod Kumar Yadav, Chairman of the Railway Board, said in a televised address to reporters. Passengers will be screened at the stations and only those without symptoms will ...

Bloomberg Russian President Vladimir Putin gave his government until June 15 to come up with a plan to support the country’s oil industry while output is slashed under an agreement among the world’s main producers. Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian Railways JSC will charge for transporting crude and petroleum products ...