June, 2020

• 25 June

  Thailand set to extend state of emergency

  

  Bloomberg Thailand is set to extend its state of emergency for a third time to help manage the reopening of schools as well as high-risk businesses, such as nightclubs, following a decline in novel coronavirus infections. The National Security Council will recommend an extension to the end of July, its Secretary-General Somsak Rungsita told reporters on Thursday in Bangkok. The ...

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• 25 June

  War-crime charges sink US effort to mend Balkan conflict

  Bloomberg Plans to revive negotiations between two longtime Balkan foes hurtled off the rails before the next round of talks could even start. Faint hopes for a breakthrough between Serbia and Kosovo — and the chances of a diplomatic win for the US — evaporated when the Kosovo’s leader was accused of war crimes and crimes against humanity as he ...

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• 25 June

  IMF projects deeper global recession on virus threat

  

  Bloomberg The International Monetary Fund (IMF) downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago. The fund said it now expects global gross domestic product to shrink 4.9% this year, more than the 3% predicted in April. For 2021, the fund sees growth of 5.4%, down ...

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• 25 June

  Wirecard files for insolvency after $2.1b went missing

  

  Bloomberg Wirecard AG filed for insolvency proceedings after a massive accounting scandal brought the payments company to its knees. Wirecard management cited over-indebtedness as the reason behind decision to seek court protection in Munich. The company also said it’s considering whether the insolvency proceedings should also be applied to its subsidiaries. The company’s rapid fall from grace comes after it ...

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• 25 June

  Royal Mail slashes 2,000 jobs as virus hits demand

  Bloomberg Royal Mail Plc said it will cut around 2,000 management posts, or about 20% of the total, in a bid to streamline the business after the coronavirus outbreak accelerated a decline in letter volumes. Britain’s 500-year-old postal service plans to reduce costs by 500 million pounds ($620 million) over the next two years by paring labour expenses and reining ...

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• 25 June

  France outlines virus layoffs that could run for two years

  

  Bloomberg French President Emmanuel Macron is planning a new virus furlough program that could see the state covering a large share of lost incomes for as long as two years to protect jobs. Macron outlined new measure in a meeting with labour unions and business groups. Starting July 1, it aims for a compromise between blanket support and more targeted ...

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• 25 June

  European car sales forecast to drop by 25%

  Bloomberg European car sales are forecast to drop by a record 25% this year after coronavirus pandemic shuttered factories ad showrooms, leading to a collapse in demand. Sales in the European Union are expected to fall to 9.6 million vehicles, from 12.8 million last year, the European Automobile Manufacturers Association said in its first forecast since January, before Covid-19 hit ...

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• 25 June

  Bayer pays $12bn to put Monsanto liabilities behind it

  

  Bloomberg Bayer AG’s $12.1 billion settlement to resolve US lawsuits over its flagship weedkiller Roundup and other products offered fleeting relief to investors looking to move on from the legal woes that have hobbled the stock for almost two years. The shares rose as much as 3.6% in Frankfurt trading after the German company’s move to resolve a trio of ...

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• 25 June

  US futures decline on virus worry; dollar fluctuates

  

  Bloomberg US equity futures slipped, while European stocks advanced as investors studied whether a resurgence in coronavirus infections will sap appetite for riskier assets. EasyJet Plc slumped after selling more shares. Deutsche Lufthansa AG rallied as its biggest stockholder backed a government rescue package. West Texas crude oil fell below $38 a barrel. Gold continued its push towards $1,800 an ...

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• 25 June

  India stocks drop in volatile trading

  

  Bloomberg Indian stocks declined in volatile trading as investors weighed the worsening economic outlook with the novel coronavirus continuing to spread. The S&P BSE Sensex fell 0.5% to 34,695.76 in Mumbai, while the NSE Nifty 50 Index dropped 0.4% after both gauges earlier erased losses to gain as much as 0.5%. The measures are both set for their best quarter ...

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