June, 2020

• 6 June

  Victoria’s Secret UK arm appoints administrators

  Bloomberg Victoria’s Secret UK arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector. The unit of Ohio-based L Brands Inc, which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement. Victoria’s Secret ...

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• 6 June

  Trump to pull 9,500 troops from Germany by September

  

  Bloomberg German Chancellor Angela Merkel was caught off guard by US President Donald Trump’s decision to pull 9,500 US troops out of Germany by September. The government wasn’t officially notified by the US about Trump’s plan, and it has so far only found out about the matter from media reports, a German government official said on Saturday, declining to comment ...

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• 6 June

  Biden clinches US’s ‘presidential nomination’

  

  Bloomberg Joe Biden has formally clinched the Democratic presidential nomination, according to the Associated Press tally, officially setting off his general election campaign to unseat President Donald Trump. The former vice president passed the milestone after collecting 1,993 delegates to the national convention, two more than the 1,991 needed to become the nominee. Mail-in ballots from Indiana, Pennsylvania and Rhode ...

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• 6 June

  India insists China demolishes construction

  

  Bloomberg India will insist that China demolish recent construction and withdraw soldiers from a disputed border area as the two neighbours begin talks to end a stalemate that began in April, officials with knowledge of the matter said. The South Asian nation, at a meeting of senior defense officials on Saturday, will offer to remove construction done at the border ...

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• 6 June

  Maduro seeks to keep control of electoral body

  

  Bloomberg Venezuela’s Nicolas Maduro is seeking to use the Supreme Court to accelerate the appointment of electoral officials mainly loyal to his government, laying the groundwork for congressional elections in December, according to seven people familiar with matter. Maduro’s administration is preparing to appoint an all-new board to the electoral body known as CNE through a Supreme Court ruling as ...

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• 6 June

  Rage against Pedro Sanchez is tearing Spain apart

  

  Bloomberg Spaniards are getting really worked up about Prime Minister Pedro Sanchez. At one point last month, the defaced image of the photogenic Socialist was plastered across a giant red banner hung in downtown Madrid. The trigger has been his widely-criticised handling of the coronavirus pandemic that has seen Spain suffer among the highest death tolls in Europe. But as ...

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• 6 June

  Polish premier says economic performance may beat forecasts

  

  Bloomberg Polish Prime Minister Mateusz Morawiecki is optimistic that the country’s economy will perform better than expected by analysts this year, thanks in part to government relief efforts. The European Union forecast a 4.3% decline in Poland’s gross domestic product in 2020, the best performance expected among the bloc’s 27 nations during the coronavirus pandemic. The median forecast from a ...

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• 6 June

  Germany borrows $34b more this year to pay for stimulus

  

  Bloomberg German Finance Minister Olaf Scholz is planning to raise more debt this year and next to help pay for the government’s massive stimulus program. Scholz will propose to raise debt by at least 30 billion euros ($33.9 billion) in a supplement to this year’s budget that will require parliamentary approval, according to people familiar with the discussion. Further borrowing ...

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• 6 June

  Zuckerberg pledges to review content policies

  

  Bloomberg Facebook Inc. Chief Executive Officer Mark Zuckerberg said the company will review content policies after employees blasted their leader for his decision to leave up controversial posts from US President Donald Trump. The company will review policies on posts that promote or threaten state use of force or voter suppression techniques, and will also look into options for flagging ...

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• 6 June

  Spain’s stimulus spending binge needs debt-cut plan, says de Cos

  

  Bloomberg Bank of Spain Governor Pablo Hernandez de Cos is keeping up pressure on the government and lawmakers to ensure emergency spending on the coronavirus crisis is accompanied with a long-term plan to address the debts it will incur. “The measures have to include prudent forecasts about what would be the results of proposed spending cuts or of a proposed ...

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