Bloomberg Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal. The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina ...

Bloomberg Italy’s debt load is so big that the country’s only chance is to get help from the European Union, according to Austrian Chancellor Sebastian Kurz. A chronic economic underperformer, Italy was already heading for a recession before pandemic hit. Now, with European Commission forecasting that GDP will shrink 9.5% this year, Italy’s debt is set to balloon to close to ...

Bloomberg Elon Musk restarted production at Tesla Inc.’s only US car plant, flouting county officials who ordered the company to stay closed and openly acknowledging he was risking arrest for himself and his employees. “I will be on the line with everyone else,” the chief executive officer said in a tweet. “If anyone is arrested, I ask that it only ...

Bloomberg Thyssenkrupp AG warned losses could surge in the third quarter due to the coronavirus crisis, further eating into cash from a multibillion-euro elevator sale that was meant to fund a turnaround. The engineering conglomerate said it could lose 1 billion euros ($1.08 billion) this quarter after its net after-tax loss widened about 40% to 1.31 billion euros in the ...

Bloomberg Almost a quarter of jobs in the UK are at risk due to coronavirus, and those earning low incomes are the most vulnerable, according to McKinsey. About 7.6 million workers are exposed to a reduction in hours, being furloughed or permanent layoffs during lockdown, the analysis published on Tuesday found. Nearly half those jobs are in occupations earning less ...

Bloomberg European stocks edged higher, US equity futures slipped and Asian shares dropped on Tuesday as investors weighed an up-tick in coronavirus infections in several nations and signs of fresh trade tension. Oil rose. The Stoxx 600 Index nudged upward after a downbeat start as gains for healthcare shares offset declines for the financial and energy sectors. S&P 500 futures ...

Bloomberg Sri Lanka’s stocks resumed a fall on Tuesday after the Monday session ended prematurely following a 10% slump in a gauge of blue-chip shares. The benchmark Colombo All Share Index closed down 3.3%. The nation’s stock exchange halted trading for 30 minutes earlier in the day, triggered by a 5% drop in a blue-chip index that comprises 20 key ...

Bloomberg In the equity market, fear of missing out seems to be overshadowing fear of all that’s wrong with the economy. Goldman Sachs Group Inc. says pessimism will soon get the upper hand and send the S&P 500 Index down almost 20% in the next three months. Fiscal and monetary support over the past few weeks of the coronavirus pandemic ...

Bloomberg Oil pared last week’s gain as fears of a potential resurgence in global coronavirus cases countered tentative signs of a demand recovery. Futures fell 2.3% in New York to trade near $24 a barrel. China put Shulan, a city near the North Korean border, in lockdown over the weekend, while in the US, the White House was hit with ...

DUBAI / WAM The Federal Authority for Government Human Resources announced that the Eid al-Fitr holiday for federal entities in the UAE will begin on Friday, Ramadan 29 (corresponding to May 22) until Shawwal 3, 1441 H, which is yet to be declared. The authority offered greetings on the occasion to the people of the UAE and Arab and Islamic ...