Bloomberg Some of London’s most influential investors are giving UK companies extra time to find new board members because of the coronavirus crisis, potentially offering a group of long-standing chairmen an unexpected extension to their careers. Legal & General Investment Management (LGIM) will allow London-listed companies an additional 12 months to replace directors coming to the end of their recommended ...

Bloomberg National Public Radio (NPR) is cutting pay and benefits in a bid to “save jobs and support the future of NPR” after the coronavirus pandemic ballooned its projected losses to as much as $53 million over the next two years. Employees’ base pay will be reduced on a sliding scale of up to 9% through Sept. 30 and workers ...

Bloomberg On April 2, Zimbabwean finance minister Mthuli Ncube wrote to the International Monetary Fund and other leading multilateral lenders pleading for help. More than half of the population needs food aid, the economy collapsed even before the impact of the global coronavirus pandemic and the country’s health service is in tatters, he said. To date, he’s had no response. ...

Bloomberg China’s Ambassador to the UK, Liu Xiaoming, said British politicians who have called for a re-setting of the ties between the two nations risk poisoning the relationship. Anti-China rhetoric is in danger of undermining international solidarity in the fight against the coronavirus pandemic, he said in a webinar on Tuesday. The ambassador’s comment is a thinly veiled warning to ...

Bloomberg Rising cases of unexplained deaths have put Nigeria’s second-biggest city of Kano at the epicenter of the coronavirus outbreak in Africa’s most populous country. Local news reports citing cemetery workers that emerged last month revealed a spike in mysterious deaths in the city with an estimated 8 million residents. Kano state Governor Abdullahi Ganduje initially blamed ailments such as ...

Bloomberg The European Union’s top court faced the most stinging attack in its 68-year history — not from Brexiteers, but from its German counterpart. In a long-awaited ruling on the European Central Bank’s quantitative easing (QE) program, Germany’s constitutional court in Karlsruhe accused the EU Court of Justice of overstepping its powers when it backed the ECB’s controversial policy. German ...

Bloomberg State governments across India rushed to restore order after violence and chaos broke out when the country started relaxing its stringent virus lockdown, with migrant workers clashing with police in western India. In Mumbai, India’s financial capital, local police said on Twitter that from Tuesday standalone shops would issue tokens to customers to avoid crowding around storefronts. It used ...

Bloomberg Senate Democrats are ready to challenge a vow of “fairness and impartiality” by Brian Miller, President Donald Trump’s nominee to oversee trillions of dollars being spent in the effort to rescue the economy from the coronavirus pandemic. “I will be vigilant to protect the integrity and independence of the Office of Special Inspector General” and will work “to uncover ...

During the coronavirus lockdown, a particular meme has been doing the rounds on Instagram and Twitter. It shows a woman in a pink ballgown, complete with tulle train billowing out behind her. She’s not standing on a glitzy red carpet. She is in a supermarket produce section, clutching a bunch of carrots in one hand and reaching for a red ...

Even as some retailers begin to open stores again, the pain across malls and main streets continues to take its toll. J Crew Group Inc said it would begin pre-arranged Chapter 11 bankruptcy proceedings and enter into a $1.65 billion debt-for-equity swap with its lenders, becoming the first major US retailer to succumb to the economic convulsions caused by the ...