June, 2020

• 30 June

  Biden to assail Trump’s handling of virus pandemic

  

  Bloomberg Joe Biden is set to sharply criticise Donald Trump’s stewardship of the response to the coronavirus pandemic, saying the president is dismissing the threat of the virus as cases surge. More than six months after the first reported Covid-19 case in the US, Biden on Tuesday will deliver a speech in Wilmington, Delaware, outlining what he will call a ...

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• 30 June

  Trump stirs alarm over Russia by dismissing bounty claims

  

  Bloomberg President Donald Trump has publicly shrugged off allegations that Russia offered bounties to kill American troops in Afghanistan, reigniting concerns that he’s more interested in preserving ties with the Kremlin than defending US interests. Trump has yet to demand an investigation or threaten Russia with any consequences if the allegations are confirmed — even as lawmakers from both parties ...

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• 30 June

  Singapore PM’s brother not to run in polls

  

  Bloomberg Singapore Prime Minister Lee Hsien Loong’s estranged brother won’t stand in the July 10 election, removing a potential obstacle for the ruling party as it seeks to retain its 55-year grip on power. “I have chosen not to stand for political office because I believe Singapore does not need another Lee,” Lee Hsien Yang said in a Facebook post ...

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• 30 June

  Tokyo all set to revise Covid-19 monitoring

  

  Bloomberg Tokyo is set to revise how it monitors the state of coronavirus infections in the city, as daily new cases in the Japanese capital rise after a state of emergency was lifted and businesses resumed operations. The Tokyo Metropolitan Government will not reimpose restrictions on businesses based solely on numerical guidelines, according to domestic media reports citing the government. ...

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• 30 June

  Brazil to extend emergency aid to poorest over unemployment

  Bloomberg Brazil’s government was expected to announce on Tuesday the extension of an aid to informal workers for a few more months, seen as crucial to poorest people amid pandemic impacts on the economy. Country’s unemployment rose in May to 12.9% from 12.6% in April, according to the national statistic agency. Primary deficit hit 131.4 billion reais in May from ...

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• 30 June

  Indonesia is nearing deal with central bank on deficit funding

  

  Bloomberg Indonesia’s central bank may buy billions of dollars of sovereign bonds at zero interest, or below its benchmark rate to help the government finance a wider deficit arising out of stimulus measures to counter fallout of the coronavirus pandemic. Bank Indonesia may bear the full cost of an expanded health care and social safety net budget of $27.6 billion ...

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• 30 June

  UK household bank deposits at record as shoppers stay home

  

  Bloomberg UK households continued to amass savings and pay down debt in May as stores remained closed for a second month in an effort to the stop the spread of coronavirus. The build-up of money in bank accounts reflects both the reduced opportunities to spend and the fact that the wages of millions of furloughed workers are being paid by ...

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• 30 June

  Pandemic to spur decline in growth potential: BOK

  

  Bloomberg The Bank of Korea (BOK) said unemployment and other economic fallout from the pandemic will accelerate already existing declines in South Korea’s potential growth rate. Higher jobless rates, more people dropping out of the workforce, and a delayed recovery in corporate investment will exacerbate a downward trend that started before the coronavirus, the bank said in a report. Slowing ...

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• 30 June

  Japan’s yield curve steepening with central bank holding back

  

  Bloomberg An incessant steepening in Japan’s yield curve is raising the stakes for the central bank’s monthly bond-buying plan. Faced with mounting losses on their portfolios, investors are looking to the Bank of Japan to boost purchases of super-long debt to ease the pressure. The spread between 10-year and 30-year yields widened for a third month in June in the ...

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• 30 June

  Bankers in India are more productive working from home

  

  Bloomberg Work from home may remain part of the norm for many in India’s financial industry beyond the end of the world’s biggest lockdown. The reason: elimination of lengthy commutes in the past three months has boosted employee productivity. Take Jefferies’ India team for example. On average, its 60 members have managed to save over an hour every day on ...

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