Bloomberg A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index (PMI) fell to 31.3 in April, down from 47.5 in March, IHS Markit said on Thursday. The median estimate of eight economists surveyed by Bloomberg was for 40.5. “Output and new orders contracted ...

Bloomberg Microsoft Corp. said quarterly sales and profit rose, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the coronavirus crisis. Profit in the period ended March 31 rose to $10.8 billion, or $1.40 a share, the company said in a statement. Sales rose 15% to $35 billion. The results from ...

Bloomberg The euro-area economy plunged into a record contraction, an outcome that will only add more urgency to controversial demands for joint European fiscal support. Output in the 19-country region shrank 3.8%, reflecting shutdowns to contain the coronavirus that have pushed businesses close to collapse, sent unemployment surging and forced governments to unleash billions of euros in emergency stimulus. As ...

Bloomberg Tesla Inc. will cut the price of its standard-range Model 3 in China for the second time this year so it can continue to qualify for government rebates on electric vehicles that are being tightened. The move will drop the price of the sedan below the 300,000 yuan ($42,400) maximum threshold for electric cars in China to qualify for ...

Bloomberg President Donald Trump is facing a turning point in his bid for re-election, betting that a handful of Southern and Midwestern states can reopen their economies without triggering an even deeper public health crisis. If it works out, Trump can claim he was right all along about quickly lifting stay-at-home restrictions that are damaging the economy. If it doesn’t ...

Bloomberg Germany’s efforts to contain the coronavirus pandemic have upended the race to succeed Chancellor Angela Merkel. In the simmering contest to lead Europe’s largest economy, Bavarian Premier Markus Soeder has emerged as the uncrowned king of the crisis. His hard line to clamp down on the spread of the disease in the wealthy southern state has propelled him to ...

Bloomberg Prime Minister Boris Johnson was expected to return to lead the UK’s daily televised coronavirus briefing on Thursday, with his government weighing options for easing a nationwide lockdown that officials warned will not be lifted any time soon. Johnson, who returned to work this week after being incapacitated by the disease and treated with oxygen in the hospital, was ...

Bloomberg When his state on Brazil’s northern coast needed ventilators to handle a surge in coronavirus victims, Maranhao Governor Flavio Dino imported 190 units from China through an unusual route. The cargo made a stop in Ethiopia before arriving in Sao Paulo, where it skipped customs and was flown straight to Sao Luis do Maranhao, the state’s capital. Dino had ...

Bloomberg Indian Prime Minister Narendra Modi’s response to the country’s surging coronavirus epidemic may help him walk away unscathed from a host of political and economic problems that hounded his government just months ago. His approval rating on April 21 was 83%, up from 76% on January 7, according to Morning Consult, a US-based survey and research firm. A separate ...

Bloomberg German officials signalled there won’t be a significant further easing of restrictions on public life for at least another week as data showed coronavirus infections in Europe’s biggest economy rose the most in four days. Chancellor Angela Merkel was due to consult with state premiers on Thursday on whether to lift more of the curbs imposed to stop the ...