July, 2020

• 16 July

  South Korea launches probe into Kim’s sister

  

  Bloomberg South Korean prosecutors have launched an investigation in Kim Jong-un’s sister, in a rare but symbolic gesture that risks renewing tensions with North Korea. Kim Yo Jong and North Korean military chief Pak Jong Chon are being investigated over their involvement in the destruction of a liaison office that South Korea built north of the border, the Seoul Central ...

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• 16 July

  Parscale ouster weakens Trump campaign

  

  Bloomberg Donald Trump has insisted for weeks that he is in good shape to win a second term in November. But the president acknowledged the trouble he is facing by reshaping his campaign leadership, ousting manager Brad Parscale. Trump announced in a Facebook post that Bill Stepien, the former deputy campaign manager, will now lead his re-election operation. Parscale, who ...

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• 16 July

  Manila under lockdown as virus infections rise

  

  Bloomberg The Philippine capital remained under loose movement restrictions from Thursday, but may return on a stricter lockdown in two weeks if coronavirus cases continue to rise. Metro Manila will stay under general community quarantine until end-July, allowing most businesses to remain open, presidential spokesman Harry Roque said at a televised briefing. The health department on Thursday said the nation ...

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• 16 July

  White households get stimulus checks faster than Blacks

  

  Bloomberg With Congress about to debate whether to send another round of relief payments to individuals, a study has found that the last batch of stimulus checks arrived at wealthier, White households more quickly than to those of Blacks and Hispanics. Nearly seven in 10 adults said that they received their coronavirus economic stimulus payments, approved by Congress in March, ...

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• 16 July

  Russian former journalist to stay in detention: Court

  Bloomberg A Russian court ordered the continued pre-trial detention of a prominent former journalist accused of treason, while striking out one element of the charges against him. The Moscow City Court rejected Ivan Safronov’s bid to be released from custody, leaving him in jail for at least two months. Safronov, who regularly broke news on sensitive arms deals while working ...

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• 16 July

  UK increases borrowing by $138bn to fund recovery

  

  Bloomberg Britain ramped up its record bond-issuance plan to help the government finance a recovery from one of the worst economic downturns in the nation’s history. An additional 110 billion pounds ($138 billion) of bonds will be sold between September and November, according to the Debt Management Office, bringing total sale plans from the start of the fiscal year to ...

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• 16 July

  BMW, Northvolt sign $2.3bn battery order

  

  Bloomberg BMW AG signed a deal with Goldman Sachs Group Inc.-backed Northvolt AB for 2 billion euros ($2.3 billion) of battery cells to power the German company’s electric cars. Northvolt, a Swedish firm started by two former Tesla Inc. executives, will manufacture the cells using renewable electricity and deliver them from 2024 as part of a long-term contract, BMW said ...

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• 16 July

  Sorrell’s S4 raises $146mn for ‘aggressive’ deal chase

  Bloomberg S4 Capital Plc, the digital advertising and marketing group founded by former WPP Plc boss Martin Sorrell, raised 116 million pounds ($146 million) in a stock offering to fund acquisitions. The company sold 29.7 million shares to a mix of existing and new investors at 315 pence each, while directors bought a further 7.1 million shares, it said in ...

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• 16 July

  Small and mid-sized business bankruptcies may triple: IMF

  

  Bloomberg The International Monetary Fund (IMF) warned that the rate of bankruptcy for small- and medium-sized businesses may triple this year in the absence of sufficient government support, threatening to stall the economic recovery and cause financial instability. A staff analysis of 17 countries suggests that bankruptcies for the firms could surge to 12%, from 4% before the pandemic, the ...

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• 16 July

  Europe’s car-sales slump slowly eases

  Bloomberg Europe’s car industry extended a tentative recovery for a second straight month, leaving manufacturers and dealers hoping state subsidies will help spur a stronger rebound. New passenger-car registrations fell 24% in June, the European Automobile Manufacturers Association said. That’s an improvement on May’s 57% slump and April’s 78% drop. With sales still well below last year’s levels, hopes are ...

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