Bloomberg Italy will broaden defenses against hostile takeovers as the fallout from the coronavirus pandemic lowers valuations and leaves key industries vulnerable. The government is planning to strengthen the so-called Golden Power protections to protect “a heritage that must not be sold off,” Economic Development Minister Stefano Patuanelli said in a message on his Facebook page. “It will be extended ...

Bloomberg Tesla Inc. reported early-year deliveries fell less than expected from record levels reached late last year, sending shares climbing as much as 13%. Tesla handed over 88,400 vehicles worldwide in the first quarter, down 21% from the last three months of 2019. But the total beat analysts’ average estimate for about 78,100. “I’m shocked they did so well,” Gene ...

Bloomberg Toronto home sales surged in March, though government measures to stem the spread of the Covid-19 virus slowed real-estate activity in the second half of the month. Sales in around Canada’s largest city jumped 12.3% from a year earlier to 8,012 transactions, while the benchmark price climbed 2.3% from February to a non-seasonally adjusted C$865,200 ($611,881), the Toronto Regional ...

Bloomberg Bankruptcies among Swedish restaurants and hotels jumped by 123% in March as measures to contain coronavirus pandemic stopped people from making trips and socialising. The transport sector was also hit hard with bankruptcies rising by 105% in March compared to same month a year ago, according to business and credit reference agency UC. The overall number of companies going ...

Bloomberg The European Union (EU) announced a plan to discourage businesses in the countries’ worst hit by the coronavirus from firing workers as they struggle to make ends meet. Amid criticism that the EU has done too little to mitigate the economic impact of the pandemic, the European Commission signaled that it will use central funds to pay companies to ...

Bloomberg Carmakers gave an early glimpse of the damage a global pandemic is doing to the US auto market, with General Motors Co. and Fiat Chrysler Automobiles NV falling short of estimates and the industry selling vehicles at the slowest pace in a decade. Sales fell 7.1% for GM and more than 10% for Fiat Chrysler in the first three ...

Bloomberg President Donald Trump warned that deaths from the coronavirus in the US will escalate over the next one to two weeks, and could be on par with the number of fatalities seen in world wars. “There’s going to be a very, very deadly period, unfortunately,” Trump told reporters at the White House. The president said that as the number ...

Bloomberg Queen Elizabeth II was expected to strike an optimistic note about Britain’s response to the global coronavirus crisis in an address to be broadcast on Sunday, according to excerpts from the speech reported by the BBC and others. “I hope in the years to come everyone will be able to take pride in how they responded to this challenge,” ...

Bloomberg There are signs that the death rate in Sweden is growing faster than elsewhere in Scandinavia, raising pressure on the government to abandon its controversial hands-off approach in tackling Covid-19. The Swedish experiment has drawn international bewilderment as schools, restaurants and cafes have remained open. And while other countries passed laws restricting movement, Sweden’s prime minister Stefan Lofven relied ...

Bloomberg The Philippine government said an emerging consensus is for the lockdown on the main island of Luzon to be extended for two weeks. “There is an emerging consensus coming from medical experts, businessmen, government officials and other well meaning individuals that an extension of two weeks for the enhanced community quarantine or lockdown is necessary,” presidential spokesman Salvador Panelo ...