May, 2020

• 25 May

  Kim calls for stronger nuclear deterrent

  

  Bloomberg North Korea leader Kim Jong-un, making his first public statement in three weeks, ordered military leaders to increase the country’s “nuclear war deterrence,” the official Korean Central News Agency (KCNA) reported. The meeting of the Seventh Central Military Commission of the Workers’ Party of Korea also discussed putting the nation’s strategic armed forces on high alert, and increasing the ...

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• 25 May

  China: HK judiciary will stay independent

  

  Bloomberg China sought to reassure Hong Kong that its judiciary would remain independent under a new national security law, as concerns grow that the city may lose one of its key selling points for international companies. “The legislation will not change the one country, two systems policy, Hong Kong’s capitalist system, high degree of autonomy, nor will it change the ...

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• 25 May

  Trump restricts entry from Brazil over virus

  

  FILED – 21 Bloomberg The US will prohibit the entry of most non-US citizens arriving from Brazil, where coronavirus cases have spiked to the second highest in the world, expanding restrictions already placed on visitors from China and Europe. The order begins at 11:59 pm on Thursday, at which point the entry of foreigners who’ve been in Brazil during the ...

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• 25 May

  Social unrest is lurking in Latin American virus hotspot

  

  Bloomberg Chile’s government is struggling to control a coronavirus outbreak that’s pushed hospitals toward collapse and could threaten to revive mass social unrest. With a population of just 18 million, Chile is reporting new Covid-19 cases at a pace comparable to that of Spain at the peak of the virus’s spread in March, on a per-capita basis, and resources are ...

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• 25 May

  Russia seeks 18 years for American charged as spy

  Bloomberg Russian prosecutors asked for an 18 year sentence for former US Marine Paul Whelan, who is on trial in Moscow accused of spying, Interfax news agency reported, citing his lawyer Vladimir Zherebenkov. Whelan denies the allegations and claims he was set up by a Federal Security Service major who owed him 100,000 rubles ($1,400). He has been detained in ...

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• 25 May

  Schaeuble backs landmark deal to shield EU from Covid-19 fallout

  

  Bloomberg Former German Finance Minister Wolfgang Schaeuble backed the European Union’s (EU) proposed 500 billion-euro ($545 billion) economic-recovery plan, adding a key voice to a standoff with EU countries focusing on fiscal austerity. The comments by Schaeuble, who remains influential within Chancellor Angela Merkel’s Christian Democratic Union (CDU) party, suggest he’s gearing up to play a role when the package ...

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• 25 May

  Swedish jobless rate rises to 7.9% in April

  

  Bloomberg Sweden’s unemployment rate rose more than expected in April as the effects of the Covid-19 crisis continued to wreak havoc across the Nordic region’s biggest economy. The seasonally-adjusted jobless measure increased to 7.9% from 6.7% a month earlier, Statistics Sweden reported. Economists were expecting a rate of 7.8%, according to the median of seven estimates from a Bloomberg survey. ...

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• 25 May

  Hertz says pandemic decimated revenue, leading to bankruptcy

  

  Bloomberg Hertz Global Holdings Inc., the car-rental company which filed for bankruptcy, said the collapse in air travel amid the coronavirus hit its biggest source of rental revenue. “The overall impact of the Covid-19 crisis devastated our revenue,” according to a court filing signed by Jamere Jackson, an executive vice president and chief financial officer of Hertz. The company, whose ...

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• 25 May

  Aston Martin to tap AMG head as new CEO

  Bloomberg Aston Martin Lagonda Global Holdings Plc is poised to replace Chief Executive Officer Andy Palmer with the head of Daimler AG’s Mercedes-AMG performance division, according to people familiar with the matter. AMG head Tobias Moers could be named as Aston Martin’s new CEO as soon as this week, the people said, asking not to be named because the matter ...

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• 25 May

  German businesses bet on gradual rebound from virus hit

  

  Bloomberg German businesses are counting on an improvement in the economy in the second half after the coronavirus pandemic depressed private spending and investment and plunged the economy into a recession. Companies surveyed by Ifo showed cautious optimism in May, with a gauge of expectations rising after the previous month’s plunge. A full-fledged recovery though is still a long way ...

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