May, 2020

• 16 May

  Italy’s next bond sale is like a public vote on crisis handling

  

  Bloomberg Italy needs to sell more debt and next week it will target the public, in what may amount to a vote on Rome’s handling of the economic crisis. A four-day auction of inflation-linked bonds aimed primarily at the retail market will begin on Monday, as the government seeks to build on the success of recent sales to institutional investors. ...

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• 16 May

  Tesla plans to build Cybertruck plant in Texas

  Bloomberg Tesla Inc. chosen to locate its second US auto factory in Texas, the blog Electrek reported, citing an unnamed source. The electric-car maker will construct the plant in or near Austin, Electrek said. The Associated Press later reported that Austin and Tulsa, Oklahoma, are finalists for the facility but that no final decision has been made. Elon Musk said ...

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• 16 May

  Europe’s tourism industry struggles to save the summer

  

  Bloomberg On the Greek island of Mykonos, Mayor Kostas Koukas is desperately trying to revive the tourism that is the life blood of the local economy. Koukas, and his counterparts in towns and cities across Europe, are looking to salvage something from the summer season after the coronavirus pandemic brought travel to a standstill. With the disease largely under control ...

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• 16 May

  Video-game addiction poised to spread

  

  Bloomberg With much of the US and Europe in lockdown, video-game use has exploded. It’s become a way for millions of quarantined people to pass the time and stay connected to others without spreading coronavirus — and health officials have applauded the idea. But for some percentage of users, the binge comes with a dark side: internet and gaming addiction. ...

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• 16 May

  TSMC plans $12 billion US chip plant

  

  Bloomberg Taiwan Semiconductor Manufacturing Co. plans to spend $12 billion building a chip plant in Arizona, a decision designed to allay US national security concerns and shift more high-tech manufacturing to America. TSMC said it will start construction of its next major fabrication facility in 2021, to be completed by 2024. While the investment falls short of its previous expenditure ...

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• 16 May

  Voodoo backers consider stake sale in mobile game

  

  Bloomberg Voodoo SAS’s backers are exploring the sale of a stake in the French mobile game developer, people with knowledge of the matter said. Shareholders of Voodoo are working with an adviser as they consider selling part or all of their holdings in the company, according to the people, who asked not to be identified because the information is private. ...

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• 16 May

  Facebook buys animated image library Giphy for $400 million

  

  Bloomberg Facebook Inc. acquired Giphy, a library of video clips and animated images known as GIFs that can be attached to messages to express emotion, adding features that could encourage users to communicate through its apps. Giphy will join the Instagram group within Facebook, according to a blog post, and the social-media giant has extended offers to more than 100 ...

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• 16 May

  Fiat seeks state-backed loan of $6.8b amid virus

  

  Bloomberg Fiat Chrysler Automobiles NV is in talks to obtain a state-backed credit line of about 6.3 billion euros ($6.8 billion) to buttress the carmaker’s finances against the steep downturn caused by the coronavirus, according to people familiar with the matter. Fiat’s local unit is discussing the facility with lead lender Intesa Sanpaolo SpA, the people said, asking not to ...

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• 16 May

  Ubisoft Sues Apple, Google Over Alibaba’s Rainbow Six “Ripoff”

  Bloomberg Ubisoft Entertainment SA sued Apple Inc. and Google LLC, accusing the companies of selling a ripoff of its popular video game “Tom Clancy’s Rainbow Six: Siege.” “Area F2,” created by Alibaba Group Holdings Ltd.’s Ejoy.com, is a “near carbon copy” of Rainbow Six: Siege, and that can’t be “seriously be disputed,” Ubisoft said in a complaint filed Friday in ...

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• 15 May

  Abu Dhabi’s external foodstuff trade hits AED4.7 billion in Q1

  

  Abu Dhabi / WAM Abu Dhabi external foodstuff trade amounted to over AED 4.663 billion during the first quarter of the current year 2020, while the overall weight of the Emirate’s foodstuff trade in the same period reached more than 1.18 million tonnes through 41,430 transactions. Abu Dhabi’s foreign trade distributed from foodstuff to imports at a value of over ...

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