Bloomberg The euro area economy is in a slump of unprecedented scale, and the contraction may deepen even further as lockdowns to contain the coronavirus are extended. IHS Markit said its monthly measure of services and manufacturing points to an annualised economic contraction of about 10%. With new business, confidence and employment all down, there is “worse inevitably to come ...

Bloomberg Italy will broaden defenses against hostile takeovers as the fallout from the coronavirus pandemic lowers valuations and leaves key industries vulnerable. The government is planning to strengthen the so-called Golden Power protections to protect “a heritage that must not be sold off,” Economic Development Minister Stefano Patuanelli said in a message on his Facebook page. “It will be extended ...

Bloomberg Tesla Inc. reported early-year deliveries fell less than expected from record levels reached late last year, sending shares climbing as much as 13%. Tesla handed over 88,400 vehicles worldwide in the first quarter, down 21% from the last three months of 2019. But the total beat analysts’ average estimate for about 78,100. “I’m shocked they did so well,” Gene ...