Bloomberg The International Monetary Fund (IMF) said all European countries can and should react “forcefully” to the economic crisis unleashed by the coronavirus pandemic, endorsing governments’ efforts to increase spending. “Fiscal deficits in Europe are said to increase by about 6% of GDP in 2020. This is large, but it’s entirely appropriate in the current crisis,” European Department Director Poul ...

Bloomberg The US government will nearly double the amount it pays hospitals and medical centers to run Abbott Laboratories’ large-scale coronavirus tests, an incentive to get facilities to hire more technicians and expand testing that fallen significantly short of machines’ potential. Abbott’s m2000 machines, which can process up to 1 million tests per week, haven’t been fully used because not ...

Bloomberg Brazil’s economic team wants to adopt a flexible fiscal target for 2021 as uncertainties caused by the novel coronavirus make it difficult to estimate the impact of the crisis, according to four people with direct knowledge of the matter. The government has until April 15 to send a bill to Congress with forecasts for next year. The bill has ...

Bloomberg Tesla Inc. is headed for its seventh straight session of gains after Credit Suisse upgraded the electric-car company whose stock has been on a tear since its first-quarter delivery report. Shares of the Model 3 maker rose as much as 8.1% before the start of regular trading, putting them on track for a more than 50% climb in the ...

Bloomberg A protracted lockdown could see the UK economy shrink by more than a third this quarter, increasing unemployment by more than 2 million and sending the budget deficit to its highest since World War II. The dire projections were outlined by Office for Budget Responsibility. They are based on a scenario in which Britain remains in lockdown for three ...

Bloomberg SAP SE, Europe’s biggest tech company by market value, is exploring the sale of a unit that helps telecommunications operators route calls and text messages, people with knowledge of the matter said. The German firm is working with an adviser to gauge interest in the business and has been speaking to potential buyers, said the people, who asked not ...

Bloomberg New Zealand’s government is preparing additional fiscal measures to limit a surge in unemployment as it battles the coronavirus, Finance Minister Grant Robertson said. “Work on further significant government investment to protect jobs, support cashflow, and prepare the economy for recovery is well advanced,” Robertson said in Wellington. Scenarios released by the Treasury department show that unemployment “can be ...

Bloomberg Republicans are ratcheting up efforts to paint China as the villain in the coronavirus pandemic, seeking to shift blame as President Donald Trump faces increased criticism of his handling of a crisis that has shuttered the US economy. The Trump campaign sent out a fundraising email that accused China of “lying” about the outbreak and saying the country must ...

Bloomberg China criticised US President Donald Trump’s move to temporarily halt funding to the World Health Organization (WHO) and pledged to support the global health body. Trump said he ordered the move against the WHO because it took China’s claims about the coronavirus “at face value” and failed to share information about the pandemic as it spread. China has “serious ...

Bloomberg South Korea’s ruling party may have won an outright majority in parliament in elections held on Wednesday, in a show of confidence for President Moon Jae-in’s handling of the pandemic that gives him fresh momentum to reshape the economy. Moon’s Democratic Party of Korea, which had 120 seats before the vote, and its satellite party could win at least ...