Bloomberg Pacific Investment Management Co. is seeking to raise another $3 billion for a distressed credit fund as the rush to capitalise on dislocations in the fixed-income market grows. Pimco’s latest money pool — Distressed Credit Opportunities Fund III — will invest in public market securities, including corporate credit, according to documents from a Fresno County Employees’ Retirement Association meeting ...

Bloomberg Volkswagen AG is pressing ahead with the manufacturing of the ID.3 electric car and expects to start European deliveries this summer as planned, despite lingering uncertainty surrounding demand for vehicles amid the coronavirus (Covid-19) pandemic. Efforts to finish the car’s software are “on the home stretch” and the schedule for the rollout at VW’s German factory in Zwickau remains ...

Bloomberg German Chancellor Angela Merkel called for a Europe-wide economic stimulus program to be financed by the European Union’s budget, making a national appeal that helping its partners would be good for Germany. “A European growth program could support an upswing over the next two years and we’ll work for that,” Merkel said in a speech to the lower house ...