Bloomberg Bank of China (BOC) Ltd’s estimate for the carnage to retail investors from the collapse in a product linked to US crude oil futures has surged 11-fold to more than $1 billion as it consolidated reports from its nationwide network, according to people familiar with the matter. The lender’s estimate of losses to customers across China increased from about ...

Bloomberg Argentina’s decision to pull out of regional trade negotiations will exacerbate the country’s economic crisis, a coalition of opposition lawmakers said. Citing economic policy priorities and the effects of the Covid-19 crisis, President Alberto Fernandez’s administration withdrew from ongoing and future talks with several countries as part of the regional South American trade bloc known as Mercosur, the group’s ...

Bloomberg Plant shutdowns are leaving the US dangerously close to meat shortages as coronavirus outbreaks now spread to suppliers across the Americas. The first big poultry plants closed in the US and experts are warning that domestic shortages are just weeks away. Brazil, the world’s No. 1 shipper of chicken and beef, saw its first major closure with the halt ...

Bloomberg Canada shouldn’t reopen its economy until there is enough personal protective equipment for businesses to fight the coronavirus, Prime Minister Justin Trudeau said. “I don’t think we should be reopening any sector of the economy until we have enough material to protect Canadians and ensure that we are stopping the spread of Covid-19,” Trudeau said at a news briefing ...

Bloomberg Venezuela’s government set new price controls for more than two dozen products and announced the takeover of a cooking oil producer as food shortages in the countryside lead to protests and rioting. Vice President Delcy Rodriguez said the government would also assume supervision of Empresas Polar, the national food giant and Venezuela’s largest privately held company, headed by Chief ...

Bloomberg Elon Musk said Texas remains in contention for a new factory that will build Tesla Inc.’s Cybertruck. The company’s billionaire chief executive officer provided the update on Twitter late Friday. He said Tesla’s Fremont, California, factory is already at maximum capacity. In March, Musk said Tesla is scouting locations to build both the electric pickup and the Model Y ...

Bloomberg Europe’s five largest automotive markets edged past China in electric vehicle registrations in first quarter of 2020, as China battled the outbreak of the coronavirus and imposed shutdowns countrywide, according to a study by PwC and its strategy consulting subsidiary Strategy&. Germany, France, the UK Italy and Spain collectively registered 79,300 fully electric vehicles between January and March, narrowly ...

Bloomberg Global speculation about Kim Jong-un’s health intensified over the weekend, with a flurry of tantalising — and unverified — reports about a visit by a Chinese medical team and movements of the North Korean leader’s armoured train. China sent a team including doctors and senior diplomats to advise its neighbour and longtime ally, Reuters reported, citing three people familiar ...

Bloomberg Boris Johnson was expected to return to work on Monday and take charge of the UK’s handling of the pandemic, a month after he was struck down by the coronavirus. The government has been without a leader since the prime minister was admitted to the hospital on April 5. Since being released he’s been slowly easing his way back, ...

Bloomberg As Japan nears three weeks under a state of emergency to tackle the spread of the coronavirus, reports indicate that the government is weighing the need to extend the emergency beyond early May. There is a growing view within the government that it may not be possible to fully lift the emergency as planned on May 6, national broadcaster ...