Bloomberg Europe’s latest lockdowns are presenting citizens with even more hurdles to spending money, swelling already-hefty savings that stand ready to fuel the recovery once vaccines tame the pandemic. Households in the euro zone accumulated a mountain of cash when businesses shut in the spring. Now in a lengthening second wave of closures, they are sitting on about $615 billion ...

Bloomberg Chancellor Angela Merkel extended Germany’s lockdown and tightened restrictions as pressure mounts on her government to contain the coronavirus spread and speed up vaccinations. With hundreds dying each day, political tensions have been high and threaten to escalate further amid a rising tide of criticism over the government’s strategy to distribute a Covid-19 shot. At an ill-tempered meeting, Merkel ...

Bloomberg A measure of US manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011. A gauge of factory activity unexpectedly increased to 60.7 from 57.5 a month earlier, according to Institute for Supply Management data. Readings above 50 indicate expansion and ...

Bloomberg French restaurant owners are readying for more disappointment, as rising virus numbers threaten to delay the reopening of the country’s food and beverage industry. The government will push back the planned January 20 reopening of restaurants and cafes, broadcasters France Info and RTL reported after Alain Griset, minister for small and medium-sized businesses, said that it’s unlikely Covid surge ...

Bloomberg UK businesses were suffering even before the latest lockdown, leaving many in a precarious position as they enter new restrictions with what many say is insufficient government support, a survey showed. The findings from the British Chambers of Commerce in November add to pressure on Chancellor of the Exchequer Rishi Sunak to extend aid to companies beyond the $12,000 ...

Bloomberg Alibaba Group Holding Ltd. is looking to raise as much as $8 billion selling dollar bonds as early as next week, according to people familiar with the matter. The e-commerce giant aims to raise at least $5 billion but could wind up with more depending on the reception, said the people who aren’t authorised to speak publicly and asked ...

Bloomberg Benchmark Treasury yields touched 1% for the first time since March, European stocks rise and the dollar slid on speculation that Democrats could win the US Senate. Cyclical assets, such as US small-cap stock futures and European energy shares, posted strong gains as investors bet that a Democrat-controlled Congress would deliver a bigger economic aid package. Bitcoin surged past ...

Bloomberg Oil breached $50 a barrel as Saudi Arabia pledged a voluntary oil-production cut next month, while most of the Opec+ alliance agreed to hold its production steady. Futures in New York rose as much as 5.1%, topping $50 a barrel for the first time since February before easing off the high. Saudi Arabia didn’t provide a volume on the ...

ISLAMABAD / WAM The UAE Ambassador to Pakistan, Hamad Obaid Alzaabi, has discussed with Zobaida Jalal, Pakistani Federal Minister for Defence Production, ways to further develop relations between the two countries and reviewed current regional and international developments. The two sides reviewed both countries’ experience in combating the coronavirus pandemic, the UAE’s humanitarian efforts in this regard and its aid ...

Dubai / WAM The UAE government has announced that employees of all ministries and federal entities will be required to undergo mandatory Covid-19 PCR testing every 14 days starting from January 17. Federal Authority for Government Human Resources said the decision is part of the government’s efforts to limit the spread of the virus.