Bloomberg Boris Johnson’s government announced a massive rescue package of loans and grants for businesses in a desperate attempt to stop the coronavirus pandemic wrecking the UK economy. Ministers promised help with mortgage payments, and support for airlines, shops and the hospitality industry, with 350 billion pounds ($424 billion) worth of government-backed loans, grants and tax cuts for struggling companies. ...

Bloomberg Car sales in Europe are off to their worst start to a year since 2013 and are poised to deteriorate further after automakers across the region shuttered plants to counter the coronavirus pandemic. Passenger registrations declined 7.2% in February after a similar drop in January, according to the European Automobile Manufacturers Association. Even those figures may be the best ...

Bloomberg BMW AG abandoned hopes for another record year in sales due to the coronavirus outbreak, predicting deliveries in 2020 will be “significantly below” last year’s levels and profitability at its weakest for years. The maker of the 7 Series luxury sedan announced shorter shifts and flexible working for employees. It didn’t provide details on any plant closures that have ...