May, 2020

• 3 May

  China liaison office says protesters jeopardising Hong Kong

  

  Bloomberg China’s Liaison Office in Hong Kong accused protesters of jeopardizing the future of the city, calling demonstrations “illegal activities,” in the latest signal that China’s top agency in the semi-autonomous territory intends to take a more hands-on role. In a statement published on its website, the Liaison Office said “extremist radicals” were involved in illegal gatherings, harassment of shops ...

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• 3 May

  ‘Only 20% see Le Pen handling crisis better’

  

  Bloomberg Only 20% of the French see far-right leader Marine Le Pen handling the coronavirus crisis better than the current government led by President Emmanuel Macron, according to an Ifop poll for Journal du Dimanche. Le Pen, who lost to Macron in the second round of presidential elections in 2017, has been one of the staunchest opponents of the government’s ...

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• 3 May

  Japanese PM to extend emergency until May 31

  

  Bloomberg Japanese Prime Minister Shinzo Abe plans to extend the national state of emergency over the coronavirus outbreak until May 31. Tokyo Governor Yuriko Koike confirmed in a live-streamed video on Sunday that Economy Minister Yasutoshi Nishimura told her the government will extend the emergency status until the end of the month. Abe signalled it would be difficult to lift ...

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• 3 May

  The Fed demonstrates US leadership at its best

  

  Federal Reserve Chairman Jerome “Jay” Powell calls it the “announcement effect.” When financial markets were buckling in March because of terror about the emerging pandemic, the Fed’s simple pledge that it would use its “full range of authorities” to maintain the flow of credit was enough to restore order. The Fed’s success is a lesson in how the credibility and ...

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• 3 May

  Live from Omaha, it’s Warren Buffett!

  

  It’s what we all needed to hear: “Nothing can stop America” — Warren Buffett’s way of saying, “We will get through this.” Saturday evenings aren’t normally the ideal time for tuning into a multi-hour investor conference, especially after being cooped up all week working from home due to the Covid-19 pandemic. But mere minutes into the live-streamed Berkshire Hathaway Inc ...

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• 3 May

  Covid aid scams could have been avoided

  Almost every scam is a little bit funny, even when linked to the deadly serious coronavirus. Consider BuzzFeed’s latest installment in the genre: The site reported that Yaron Oren-Pines, an electrical engineer in Silicon Valley, managed to make millions of dollars selling ventilators he apparently never had and never could supply. Three days — three days! — after he tweeted ...

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• 3 May

  Oil’s recovery could take decades, not years

  Who knows what the new normal for oil demand will be once Covid-19 is firmly in the rear view mirror? It is likely to be lower than it was in 2019, and it could be that way for many years. That’s going to create overcapacity throughout the oil supply chain and weigh on prices. While signs are emerging that we ...

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• 3 May

  American economy poised to mirror post-WWII glory

  

  The US government has spent $2.6 trillion to support the economy as the coronavirus pandemic spreads, and the Federal Reserve has about matched that amount in asset purchases. We’re not finished fighting Covid-19, so protecting the economy in 2020 may be the most expensive thing the US has ever attempted. Consider that the US spent about $4 trillion in today’s ...

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• 3 May

  Is Sweden a miracle coronavirus model?

  

  The World Health Organization (WHO) has been generous with its praise throughout this pandemic. China, Singapore and Ireland have all received plaudits for their handling of the coronavirus crisis. Now that a new turning point is in sight, with the infection’s spread slowing and draconian lockdown measures being gradually lifted, the WHO is promoting the Swedish way of doing things. ...

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• 3 May

  Curing coronavirus isn’t a job for social scientists

  

  The public appetite for more information about Covid-19 is understandably insatiable. Social scientists have been quick to respond. They are writing papers at a record pace, and academic journals are expediting the review process so that these new, exciting results can be published in a timely and newsworthy manner. While I understand the impulse, the rush to publish findings quickly ...

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