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Bloomberg President Donald Trump said he doesn’t want to talk to Chinese President Xi Jinping right now and mused about eliminating the largest trading relationship in the world, with tensions high over the coronavirus outbreak. Asked in a Fox Business Network interview whether he had spoken to Xi recently, Trump said that they have “a very good relationship†but “right ...
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May, 2020
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14 May
Chinese hackers are targeting Covid-19 research, says US 
Bloomberg Hackers working for the Chinese government are trying to steal valuable research on coronavirus vaccines and treatments from US healthcare, pharmaceutical and research organisations, the FBI and the Department of Homeland Security warned. “China’s efforts to target these sectors pose a significant threat to our nation’s response to Covid-19,†the Federal Bureau of Investigation and DHS’s Cybersecurity Infrastructure Security ...
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14 May
Russians struggling to survive add pressure to end lockdown
Bloomberg Grigory Sverdlin has been doling out free meals from a night bus in Russia’s second-biggest city for the best part of the past two decades. Rarely has he seen so much demand as in the past few weeks. “In St. Petersburg we usually feed around 80 people a night at each of the four stops. Now there are 120-140 ...
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14 May
Typhoon Vongfong hits Philippines
Bloomberg Typhoon Vongfong, the Northern Hemisphere’s first named storm, was rapidly intensifying east of the Philippines, where it could clip parts of the island nation through Saturday, according to the US Joint Typhoon Warning Center in Hawaii. The storm, called Ambo in the Philippines, made landfall over San Policarpio town in Eastern Samar province in Visayas island on Thursday, the ...
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14 May
World’s insurers face $203b in losses from coronavirus
Bloomberg Lloyd’s of London, the world’s largest insurance exchange, estimates the industry will suffer around $203 billion in losses from the coronavirus pandemic this year. The projected losses include about $107 billion from underwriting claims, with the rest from insurers’ investment portfolios, Lloyd’s said in a statement. The claims costs are on a par with some of the most catastrophic ...
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14 May
UK’s plan to restart economy is stalling
Bloomberg The British government’s call to restart the economy may have sounded good, but there’s little evidence the country is taking heed. In the week when Prime Minister Boris Johnson said it was time to get back to work, some parts of the economy are humming along. What’s less clear is whether his decision to ease lockdown restrictions made much ...
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14 May
Italy’s new stimulus may not be enough for battered economy
Bloomberg Italy is trying to prop up its battered economy with a second stimulus package worth 55 billion euros. It may not be enough. Prime Minister Giuseppe Conte’s government approved the much-delayed measures in a bid to reduce the economic impact of the coronavirus pandemic. The plan focuses on liquidity for businesses and aid to families hurt by over two ...
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14 May
Musk finishes digging Las Vegas ‘loop’ train
Bloomberg Not all of Elon Musk’s projects have been thwarted by the coronavirus pandemic. While the billionaire clashed this week with local officials over restarting production at a Tesla Inc. factory in California, his tunnel-drilling company hit a new milestone in Nevada. A giant drill called Godot Plus broke through a wall near the spot where it will connect to ...
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14 May
US futures decline with stocks; Treasuries gain
Bloomberg US equity futures dropped ahead of the latest American jobless data and as President Donald Trump floated cutting ties between the world’s two biggest economies. Treasuries gained alongside the dollar. Contracts on the main US equity benchmarks extended declines after Trump said in a TV interview that he doesn’t want to talk to China’s President Xi Jinping “right now.†...
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14 May
Stocks in India fall as investors mull detail of stimulus
Bloomberg India stocks fell, retreating from Wednesday’s biggest gain in almost two weeks, as investors mulled the detail of a government stimulus package aimed at spurring the economy. The S&P BSE Sensex dropped 1.3% to 31,593.08 as of 9:34 am in Mumbai, while the NSE Nifty 50 Index lost 1.2%. Almost half of the $265 billion rescue package — equivalent ...
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