Bloomberg A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index (PMI) fell to 31.3 in April, down from 47.5 in March, IHS Markit said on Thursday. The median estimate of eight economists surveyed by Bloomberg was for 40.5. “Output and new orders contracted ...

Bloomberg Microsoft Corp. said quarterly sales and profit rose, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the coronavirus crisis. Profit in the period ended March 31 rose to $10.8 billion, or $1.40 a share, the company said in a statement. Sales rose 15% to $35 billion. The results from ...

Bloomberg The euro-area economy plunged into a record contraction, an outcome that will only add more urgency to controversial demands for joint European fiscal support. Output in the 19-country region shrank 3.8%, reflecting shutdowns to contain the coronavirus that have pushed businesses close to collapse, sent unemployment surging and forced governments to unleash billions of euros in emergency stimulus. As ...