May, 2020

• 18 May

  New York blocks ‘gas pipeline’ again

  

  Bloomberg New York has again denied a key permit for a controversial $1 billion natural gas pipeline being developed by Williams Cos. The state’s Department of Environmental Conservation rejected Williams’ latest application for a water permit for its Northeast Supply Enhancement project after denying the pipeline the same permit last year. The conduit was at the crux of a standoff ...

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• 18 May

  Germany to offer cash sweeteners to revive wind power

  Bloomberg German Chancellor Angela Merkel’s government may try to tame growing opposition to onshore wind developments by offering cash sweeteners to local councils and consumers. A plan drawn up by officials in Berlin suggest municipalities could earn as much as 20,000 euros ($21,600) a year for each newly-erected wind turbine in their districts from 2021, according to a copy of ...

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• 18 May

  Trump tried to kill trade; Covid-19 might succeed

  

  Today, no government sees defending liberal trade as its first order of business. More urgent matters demand attention. But trade is no sideshow. If governments fail to shape a stronger trade system, and defend it to their voters, a reversal of globalisation is possible. That could end up causing more long-term economic damage than any other consequence of the coronavirus ...

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• 18 May

  Where to worry about coronavirus!

  

  Each virus has its unique pattern of spread, and scientists are starting to get a handle on how the novel coronavirus behaves. This understanding is making it possible to rank the risks of different activities from high to low to trivial. The most informative studies show how the disease is spreading in the real world — a big advance over ...

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• 18 May

  Coronavirus likely to bring many changes!

  The coronavirus pandemic is likely to bring about many deep, long-lasting changes in US society and the economy. It’s difficult to predict what most of those will be. Unfortunately, one likely possibility is that college towns will suffer. For the past few decades, college towns have been a pillar of the economy. Universities draw in lots of educated workers, in ...

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• 18 May

  What makes nursing homes a virus hotbed

  Residents of nursing homes or similar facilities account for at least one-quarter of US deaths from Covid-19. The true figure might be a lot higher. The coronavirus has spread to nearly 7,000 nursing homes in all 50 states. In at least seven — Delaware, Maine, Massachusetts, Oregon, Pennsylvania, Rhode Island and West Virginia — more than half of all Covid-19 ...

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• 18 May

  Ryanair taps UK loan plan, digs in for slow recovery

  

  Bloomberg Ryanair Holdings Plc boosted its liquidity with a 600 million-pound ($726 million) loan backed by the UK government and said the coronavirus crisis will reduce passenger numbers by half over the next year. Europe’s biggest low-cost carrier is tapping Britain’s Covid Corporate Financing Facility (CCFF) as it digs in for a slow recovery that’s set to see a price ...

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• 18 May

  Thai Airways one step closer to bankruptcy

  

  Bloomberg Flag carrier Thai Airways International Pcl is a step closer to restructuring via a bankruptcy court after a key government panel backed the plan, which is due for consideration by the Cabinet on Tuesday. A committee that oversees policies for state-run enterprises agreed that the airline should seek such a rehabilitation, government spokeswoman Narumon Pinyosinwat told reporters in Bangkok ...

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• 18 May

  Minister stakes his reputation and South Africa’s on airline

  

  Bloomberg Pravin Gordhan, South Africa’s minister for public enterprises, is staking his own credibility and that of President Cyril Ramaphosa’s government on the creation of a new airline out of the ashes of the bankrupt national carrier. Hit by the loss of the country’s last investment-grade rating on its sovereign debt and the Covid-19 pandemic, Ramaphosa has said hard choices ...

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• 18 May

  Italy shops reopen, but for many it’s already too late

  

  Bloomberg Italy’s shoppers may be digging out their wallets as retail businesses reopen on Monday, but many of the country’s 2.7 million merchants say there’s little to celebrate. “My creditors will be all over me as soon as I raise my portcullis,” said Giulio Anticoli, referring to the heavy medieval grates still used to protect some storefronts in Rome. “There’s ...

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