Bloomberg European Union (EU) finance ministers agreed on a 540 billion-euro ($590 billion) package of measures to combat the economic fallout of the global coronavirus pandemic. It’s now up to EU leaders to approve the accord, which will require overcoming profound political disagreements. In an emergency teleconference, finance chiefs approved a plan to stave off what’s expected to be a ...

Bloomberg Renault SA Chairman Jean-Dominique Senard said the French carmaker is seeking as much as 5 billion euros ($5.5 billion) in government-backed loans to weather the coronavirus pandemic, while dismissing the possibility of nationalisation. “We are working on the idea of bank loans that would be guaranteed by the state and are destined to be reimbursed,” Senard Friday on RTL ...

Bloomberg Bulgaria is renewing efforts to join the euro area’s waiting room in the hope for easier access to financial aid in the coronavirus crisis. The European Union’s poorest country has been pushing to join the currency zone since 2016 to boost living standards and avoid being sidelined in the bloc’s decision-making. After numerous setbacks, the central bank has signaled ...

Bloomberg Italy extended a national lockdown until May 3, rejecting calls by business leaders to allow a gradual restart of the economy. The decision reflects a pattern playing out in many parts of Europe as health officials and politicians warn against letting up too early on restrictions to stem the spread of the coronavirus and avoid a second wave of ...

Bloomberg The disruption caused by the fallout from coronavirus outbreak is the last thing Spain’s car industry needs. Already under pressure from the shift to electric vehicles, the pandemic risks raising uncomfortable questions for Europe’s second-largest auto producer. As auto bosses plot their course for the years ahead — with less money to spread around — Spain could come up ...

Bloomberg Caterpillar Inc. is in discussions with banks to raise a new $3 billion 9-month revolving credit facility. The deal could be increased to about $5 billion in total and will help boost the construction equipment company’s liquidity, the people said. Representatives for Citibank, which is leading the deal, and Caterpillar declined to comment. Other banks on the deal include ...

Bloomberg A politically inexperienced and highly divisive president, a presidential campaign waged under the shadow of a deadly pandemic, and an establishment candidate from the opposing party who promises to restore the country to a less turbulent time. Those were the elements of the US presidential election exactly 100 years ago that swept Warren G Harding into office. The similarities ...

Bloomberg A vaccine against the coronavirus could be ready by September, according to a scientist leading one of Britain’s most advanced teams. Sarah Gilbert, professor of vaccinology at Oxford University, told The Times on Saturday that she is “80% confident” the vaccine would work, and could be ready by September. Experts have warned the public that vaccines typically take years ...

Bloomberg President Donald Trump has pledged US assistance to Italy as the European country continues to be ravaged by the coronavirus pandemic. US departments including State, Commerce and Defense would be involved in the relief effort, which came at the request of Prime Minister Giuseppe Conte, according to a memorandum released by the White House. More than 147,500 cases of ...

Bloomberg Spain reported the fewest number of new coronavirus deaths since March 23. The death toll rose by 510 to 16,353 and total cases in the past 24 hours increased by 4,830 to 161,852, the government said on Saturday. In Spain and elsewhere in Europe, political and business leaders are increasingly talking about the “new normal” that the bloc’s citizens ...