Bloomberg Bankruptcies among Swedish restaurants and hotels jumped by 123% in March as measures to contain coronavirus pandemic stopped people from making trips and socialising. The transport sector was also hit hard with bankruptcies rising by 105% in March compared to same month a year ago, according to business and credit reference agency UC. The overall number of companies going ...

Bloomberg The European Union (EU) announced a plan to discourage businesses in the countries’ worst hit by the coronavirus from firing workers as they struggle to make ends meet. Amid criticism that the EU has done too little to mitigate the economic impact of the pandemic, the European Commission signaled that it will use central funds to pay companies to ...

Bloomberg Carmakers gave an early glimpse of the damage a global pandemic is doing to the US auto market, with General Motors Co. and Fiat Chrysler Automobiles NV falling short of estimates and the industry selling vehicles at the slowest pace in a decade. Sales fell 7.1% for GM and more than 10% for Fiat Chrysler in the first three ...