May, 2021

• 15 May

  Trudeau government begins work on reopening US-Canada border

  

  Bloomberg Prime Minister Justin Trudeau’s government has begun preliminary internal discussions about reopening the border with the US, even as Canada remains well behind its neighbor in vaccinations. Senior officials have begun to formally talk about options for how to proceed, three people familiar with the matter said, speaking on the condition they not be identified. One question under consideration ...

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• 15 May

  CDC’s big mask change plan comes as surprise

  

  Bloomberg For a nation mired in a pandemic for more than a year, the biggest step towards a return to normal came suddenly, even to President Joe Biden. After warning the country to stay vigilant amid the threat of coronavirus variants, the president found himself three days later striking a different tone, celebrating that the US had already reached a ...

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• 15 May

  US, EU set to reach temporary tariff truce over metals dispute

  

  Bloomberg The Biden administration is set to announce it’s reached a truce in a dispute with the European Union (EU) over metal tariffs, sparing iconic products from a doubling of EU duties next month, people familiar with the matter said. A resolution could be announced as soon as Monday, said the people. At issue is a high-profile dispute that started ...

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• 15 May

  Joe Biden’s $86 billion pension rescue set to boost corporate bonds

  

  Bloomberg US President Joe Biden’s pension bailout might do more than just support troubled retirement plans. It could also spur tens of billions of dollars in demand for corporate bonds with the lowest investment-grade ratings, according to Citigroup Inc. Struggling multi-employer pensions, which are often tied to unions, will be able to apply for special financial assistance, thanks to the ...

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• 15 May

  Brazil’s currency will strengthen with reforms, says economy chief

  

  Bloomberg Brazil’s economy czar has a candid assessment of his three-year relationship with Jair Bolsonaro: both men trust each other and continue to push for key reforms, although the president’s support for his minister’s pro-market agenda has been waning. Paulo Guedes told Bloomberg News that key proposals to overhaul the country’s tax system and curb public-sector costs will be approved ...

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• 15 May

  Colombian GDP smash forecasts in Q1

  Bloomberg Colombia’s economy grew much faster than expected at the start of the year, with record low interest rates supporting a revival in domestic demand. Gross domestic product (GDP) expanded 2.9% in the first three months of the year from the previous quarter, more than three times the 0.9% median forecast from analysts surveyed by Bloomberg. GDP rises 1.1% from ...

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• 15 May

  Facebook loses challenge to Irish watchdog’s data curbs

  

  Bloomberg Facebook Inc lost a court fight over an initial order from a European Union (EU) privacy watchdog threatening its transfers of users’ data across the Atlantic. An Irish court rejected the social network’s challenge, saying it didn’t establish “any basis” for calling into question the Irish Data Protection Commission’s decision. The dispute is part of the fallout from July’s ...

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• 15 May

  China tech giants bet $19bn on global electric car frenzy

  

  Bloomberg China is shaping up to be the first real test of Big Tech’s ambitions in the world of carmaking, with giants from Huawei Technologies Co to Baidu Inc plowing almost $19 billion into electric and self-driving vehicle ventures widely seen as the future of transport. While Apple Inc has long had plans for its own car and Alphabet Inc ...

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• 15 May

  Sony warns tight PlayStation 5 supply to extend into next year

  

  Bloomberg Sony Group Corp warned a group of analysts the PlayStation 5 (PS5) will remain in short supply through 2022, suggesting the company will be constrained in its ability to boost sales targets for its latest games console. While reporting financial results in late April, the Japanese conglomerate said it had sold 7.8 million units of the console through March ...

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• 15 May

  Facebook helps Zara sell clothes using video games

  

  Bloomberg After building the world’s biggest clothing empire without using TV and billboard ads, the owner of fashion brand Zara is trying another way to market its dresses, jeans and jackets — video games. Spain’s Inditex SA is responding to the shift from physical stores to online sales by teaming up with Facebook and Instagram to develop “Pacific Game” to ...

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