May, 2020

• 27 May

  Swedes fight ‘discrimination’ in EU over contagion fears

  

  Bloomberg Sweden’s laxer response to Covid-19 gave its citizens more freedom than most as the pandemic raged. But as other European Union members start to emerge from the worst, Swedes risk being left behind. Sweden’s foreign minister, Ann Linde, responded to a decision by Cyprus to blacklist her countrymen over concerns they might represent an unacceptable contagion risk. “We don’t ...

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• 27 May

  KKR plans to invest $1bn to build data centers in Europe

  

  Bloomberg KKR & Co. said it will put $1 billion into a new data center venture in Europe, as private equity firms chase returns in the growing market for digital infrastructure assets. The investment firm is teaming up with industry veteran Franek Sodzawiczny to launch Global Technical Realty, which will develop and build data centers for large technology companies in ...

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• 27 May

  ‘Euro-area economy closer to ECB’s worst-case estimates’

  

  Bloomberg The euro-area economy is facing a contraction this year in line with the European Central Bank’s (ECB) more pessimistic forecasts, according to Christine Lagarde. Output in the region is likely to shrink between 8% to 12%, the ECB president said in an online question-and-answer session targeted at European youth. Estimates for a mild scenario are “out of date.” “We’ll ...

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• 27 May

  UK may create 850,000 green energy jobs

  Bloomberg Britain could create 850,000 new green energy jobs this decade if it uses recovery stimulus to fast-track decarbonisation, a report has found. Financial stimulus being used to kick-start the economic recovery from coronavirus should accelerate the UK’s path towards net-zero emissions and limit the worst effects of climate change, according to a report by a the cross-party IPPR environmental ...

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• 27 May

  Macron to inject $9bn into ailing car industry

  

  Bloomberg President Emmanuel Macron unveiled a raft of measures aimed at reviving France’s struggling car industry and drawing manufacturing back to local factories. The plan includes incentives for the purchase of electric cars, cash-for-clunkers to encourage consumers to trade in older, more polluting cars and subsidies for struggling car-parts makers. The total of roughly 8 billion euros ($9 billion) also ...

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• 27 May

  Fitch downgrades Argentina to RD

  Bloomberg Argentina’s ninth default on its external debt is now official after some of its bonds were cut to default status by two rating companies. Fitch Ratings reduced the South American nation to restricted default (RD), while S&P Global downgraded four of its dollar-denominated bonds to default from CC following a missed $500 million payment last week. That sets up ...

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• 27 May

  Brazil toughens rules to avoid US-style disruptions

  

  Bloomberg Brazil, the biggest exporter of beef and chicken, is betting on a new set of safety standards to avoid the kind of mass processing disruptions that caused meat shortages and price spikes in America. The South American farming powerhouse plans to introduce new national guidelines that incorporate requirements from local authorities and labour prosecutors, Agriculture Minister Tereza Cristina Dias ...

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• 27 May

  Stocks in Europe climb with US futures; oil slips, dollar gains

  

  Bloomberg Stocks advanced in Europe along with US equity futures as investors looked past simmering tensions between Washington and Beijing and focused on progress in relaxing lockdowns. Oil slipped, while Treasuries and the dollar edged higher. The Stoxx Europe 600 Index headed for a third daily increase as the region’s push to revive battered economies looked to be on track, ...

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• 27 May

  SGX plunges most in 17 years as MSCI signs pact with HK

  

  Bloomberg Shares in Singapore Exchange Ltd. (SGX) plunged after MSCI Inc. announced it will move licensing for derivatives products on a host of gauges to Hong Kong from Singapore. SGX’s stock fell 11.8% as of 3:22 pm local time, set for the biggest drop since 2003, amid concerns over the loss of revenue stream following the move. MSCI has struck ...

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• 26 May

  Covid-19: Business activity in Dubai to resume from today

  

  DUBAI / WAM Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Crown Prince of Dubai and Chairman of the Executive Council His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced the gradual reopening of business activities in Dubai from the fourth day ...

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