Bloomberg A member of Boris Johnson’s government and a “cash for favors” dispute he’s embroiled in has become the latest political headache for the premier after a difficult few months battling the coronavirus pandemic. Housing Secretary Robert Jenrick, under fire since it emerged that he approved a planning development from businessman Richard Desmond who later donated money to the Conservative ...

Bloomberg Thailand is set to extend its state of emergency for a third time to help manage the reopening of schools as well as high-risk businesses, such as nightclubs, following a decline in novel coronavirus infections. The National Security Council will recommend an extension to the end of July, its Secretary-General Somsak Rungsita told reporters on Thursday in Bangkok. The ...

Bloomberg Plans to revive negotiations between two longtime Balkan foes hurtled off the rails before the next round of talks could even start. Faint hopes for a breakthrough between Serbia and Kosovo — and the chances of a diplomatic win for the US — evaporated when the Kosovo’s leader was accused of war crimes and crimes against humanity as he ...

Bloomberg The International Monetary Fund (IMF) downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago. The fund said it now expects global gross domestic product to shrink 4.9% this year, more than the 3% predicted in April. For 2021, the fund sees growth of 5.4%, down ...

Bloomberg Wirecard AG filed for insolvency proceedings after a massive accounting scandal brought the payments company to its knees. Wirecard management cited over-indebtedness as the reason behind decision to seek court protection in Munich. The company also said it’s considering whether the insolvency proceedings should also be applied to its subsidiaries. The company’s rapid fall from grace comes after it ...

Bloomberg Royal Mail Plc said it will cut around 2,000 management posts, or about 20% of the total, in a bid to streamline the business after the coronavirus outbreak accelerated a decline in letter volumes. Britain’s 500-year-old postal service plans to reduce costs by 500 million pounds ($620 million) over the next two years by paring labour expenses and reining ...

Bloomberg French President Emmanuel Macron is planning a new virus furlough program that could see the state covering a large share of lost incomes for as long as two years to protect jobs. Macron outlined new measure in a meeting with labour unions and business groups. Starting July 1, it aims for a compromise between blanket support and more targeted ...

Bloomberg European car sales are forecast to drop by a record 25% this year after coronavirus pandemic shuttered factories ad showrooms, leading to a collapse in demand. Sales in the European Union are expected to fall to 9.6 million vehicles, from 12.8 million last year, the European Automobile Manufacturers Association said in its first forecast since January, before Covid-19 hit ...

Bloomberg Bayer AG’s $12.1 billion settlement to resolve US lawsuits over its flagship weedkiller Roundup and other products offered fleeting relief to investors looking to move on from the legal woes that have hobbled the stock for almost two years. The shares rose as much as 3.6% in Frankfurt trading after the German company’s move to resolve a trio of ...

Bloomberg US equity futures slipped, while European stocks advanced as investors studied whether a resurgence in coronavirus infections will sap appetite for riskier assets. EasyJet Plc slumped after selling more shares. Deutsche Lufthansa AG rallied as its biggest stockholder backed a government rescue package. West Texas crude oil fell below $38 a barrel. Gold continued its push towards $1,800 an ...