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Bloomberg Nissan Motor Co’s priority is to conserve cash while making better use of its assets instead of selling them, Chief Operating Officer Ashwani Gupta said, as the struggling carmaker confronts an existential challenge from the pandemic that’s upended the global economy. The shift in strategy offers an early indication of a recovery plan that will be unveiled next month, ...

Bloomberg The United Kingdom’s plan to grant 50 billion pounds ($61.5 billion) to companies suffering the economic effects of the coronavirus outbreak won approval from the European Commission. The EU must still police British state-aid programs because EU law is still in force during transition period as Britain exits the bloc. The EU has now cleared the UK to take ...

Bloomberg The International Monetary Fund (IMF) may launch a new program to help address the global shortage of dollars, providing a backup to the Federal Reserve’s campaign to keep greenbacks flowing around the world economy. IMF Managing Director Kristalina Georgieva is preparing to offer short-term dollar loans to countries that lack enough Treasuries to participate in a Fed program that ...

Bloomberg Denmark faces a budget deficit of 6.5% of gross domestic product this year under the most optimistic scenario provided by the Danish Economic Councils, an independent government adviser. Under that scenario, GDP would fall by 3.5% this year as the economy quickly returns to normal activity, the advisory, known as the Wise Men, said in a statement on Monday. ...

Bloomberg Germany’s economy will likely shrink this quarter at more than twice the pace recorded at the height of the financial crisis, according to the country’s leading research institutes. Output is predicted to slump 9.8% in April-June period, the most since records for quarterly data began in 1970. The economy is set to contract 4.2% over the course of this ...

Bloomberg UK pharmaceutical giant GlaxoSmithKline Plc is joining dozens of companies in the hunt for coronavirus therapies, signing a partnership with Vir Biotechnology Inc. and agreeing to invest $250 million in the US company. Glaxo and Vir will work together to find experimental antibodies to treat or prevent Covid-19, the illness caused by the coronavirus, the British drugmaker said. The ...

Bloomberg In Argentine trading circles, a consensus had emerged of late that the government was likely to treat some local creditors the same way it would treat those who own its foreign bonds when widely anticipated restructuring talks finally got underway. In fact, dollar-denominated bonds issued in the local market were trading just a few weeks ago at almost the ...

Bloomberg The world’s largest oil producers are hammering out the terms of an unprecedented deal to mitigate the devastating impact of the coronavirus crisis as they prepare for an extraordinary meeting this week. Saudi Arabia and Russia are closing in on an agreement to curb output, which could drain some of the oil surplus threatening to overwhelm storage tanks and ...

Bloomberg It’s crunch time for the European Union (EU) as it strives to overcome internal differences and agree to a plan that would stem a virus-led downturn, which may eclipse the severity of the Great Recession more than a decade ago. The EU’s finance ministers on Tuesday will seek to endorse a list of measures worth more than half a ...

Bloomberg India’s unemployment rate could have climbed to more than 20% as the economy lost jobs after a nationwide lockdown took effect in the last week of March, according to a survey by the Center for Monitoring Indian Economy Pvt. The jobless rate was 23.4% for the week ended April 5 based on a sample size of 9,429 observations, Mahesh ...