May, 2020

• 31 May

  Trump plans expanded fall G-7 meeting with Russia

  Bloomberg President Donald Trump said he’s planning an expanded Group of Seven leaders meeting in the autumn, potentially even after the November election, postponing efforts to hold the event in June at Camp David. Trump, speaking to reporters aboard Air Force One, said he’d like to extend an invitation to leaders from Russia, Australia, India and South Korea as well ...

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• 31 May

  UK preparing job creation plan to tackle virus fallout

  

  Bloomberg The UK is preparing a stimulus package to tackle the jump in unemployment due to the coronavirus, with expectations that the jobless rate could soon rise to more than 10%, the Financial Times reported, citing unidentified government officials. Prime Minister Boris Johnson is working with Chancellor of the Exchequer Rishi Sunak on the plan , which is expected to ...

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• 31 May

  EU set to revamp steel-import controls as economy recovers

  

  Bloomberg The European Union (EU) plans to revamp its steel-import restrictions to guard against major market distortions as the bloc’s economy recovers from the effects of the pandemic. The proposed changes apply to EU import curbs introduced two years ago to prevent a controversial 25% US levy on foreign steel from diverting global shipments to the European market and flooding it. ...

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• 31 May

  Twitter would be welcome if it decides to leave US, says France

  Bloomberg Twitter Inc. would be welcome to move to France should the social-media platform face an adverse operating environment in the US, French Junior Digital-Affairs Minister Cedric O said in an interview with Radio J on Sunday. “If Twitter would consider at some point that the US circumstances would no longer allow the company to develop according to its values, ...

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• 31 May

  Covid-19: Immigration drops sharply in Canada

  

  Bloomberg Covid-19 has derailed the Canadian government’s plan to increase international migration levels this year. In the first release of data that covers the pandemic’s spread into Canada, the number of permanent residents who came to the country in March dropped by 29% from the same period last year, falling to 19,115 during the month. Temporary foreign workers were down ...

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• 31 May

  Zoom boosts encryption for paying clients

  Bloomberg Zoom Video Communications Inc. plans to strengthen encryption for paying clients and institutions, but not for users with free accounts, Reuters reported, citing the company’s security consultant Alex Stamos. The company’s plans are subject to change and it is unclear which nonprofit organisations would qualify for such heightened security for video conferences, the report added. The company is trying ...

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• 31 May

  Cheaper cities stand to gain in work-from-home shuffle

  

  Bloomberg The Covid-19 pandemic hit right as Ralph McLaughlin, chief economist for Haus Inc., was moving from Washington, DC, to San Francisco. When his company gave employees the option to work anywhere, McLaughlin didn’t hesitate. He chose to work mostly from a mountain home 145 miles from San Francisco and visit his city office “when I need to feed off ...

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• 31 May

  The big stock bull case says Fed stimulus doesn’t go away

  

  Bloomberg How willing will the Federal Reserve be just to switch off all the stimulus it rolled out to safeguard markets from the coronavirus? The most plausible answer is “not very,” logic that forms the most aggressive bull case on equities. As anyone who has watched the rocky path to reopening cities and states, it’s hard to know when to ...

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• 31 May

  Middle East equity markets surge as economies reopen

  

  Bloomberg Middle Eastern equity markets mostly rose on Sunday as economies continued to open up from coronavirus lockdowns, with Saudi Arabia leading gains. The Tadawul All Shares Index climbed as much as 4.1%, before trimming gains to 1.7%. Gauges in Abu Dhabi, Egypt and Oman rose. Saudi Arabia began the second phase of easing its shutdown on Sunday by resuming ...

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• 31 May

  Bangladesh stocks rise by 1.3% as exchanges reopen

  Bloomberg Bangladesh’s benchmark equity index rose after stock markets opened following a two-month trading halt, as investors bet the government ending a nationwide lockdown will revive economic growth. The DSE Broad Index advanced 1.3% Dhaka on Sunday, rising to its highest level since March 12. Stocks last traded on March 25, marking the longest trading halt since 1976. Investors are ...

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