April, 2020

• 25 April

  Trump signs $484b package to rescue small businesses

  

  Bloomberg President Donald Trump signed a $484 billion spending package that includes more money for small businesses, the latest bid by Washington lawmakers to rescue an economy devastated by the coronavirus pandemic. “Great for small businesses, great for workers,” Trump said in the Oval Office. “This is a tremendous victory.” The new law would revive a small-business loan program that ...

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• 25 April

  Intel withdraws its 2020 forecast on ‘uncertainty’

  

  Bloomberg Intel Corp. withdrew its full-year sales forecast, citing “significant economic uncertainty” caused by the Covid-19 pandemic. The company’s shares fell more than 5% in late trading. The world’s largest semiconductor maker reported a 23% jump in first-quarter revenue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machines companies need to keep people working ...

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• 25 April

  France’s Renault poised to get $5 billion state-backed loan

  

  Bloomberg Renault SA is poised to get a state-backed loan of about $5.4 billion to cushion the struggling French carmaker from the impact of the coronavirus pandemic that has clobbered the auto industry. French Finance Minister Bruno Le Maire said the funding package is still under negotiation, while at the same time announcing an even bigger one for Air France-KLM, ...

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• 25 April

  British insurers to pay $1.5bn in virus claims

  Bloomberg British insurers are on the hook for more than 1.2 billion pounds ($1.5 billion) in claims from businesses and individuals hit by the coronavirus pandemic, according to the industry’s trade body. Initial estimates put payments for business interruption at 900 million pounds, followed by a record 275 million-pound payout for canceled travel, the Association of British Insurers said on ...

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• 25 April

  Tesla escalates battle over alleged theft of robocar secrets

  

  Bloomberg More than a year after the billionaire chairman of Xpeng Motors labelled as “questionable” Tesla Inc.’s allegations that an engineer stole Autopilot secrets before bolting to the Chinese startup, the questions from Elon Musk’s company keep coming. As Tesla tries to amass proof in its lawsuit portraying the engineer as a traitor, it’s asking a judge to force the ...

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• 25 April

  Bolsonaro strikes back after Moro’s exit leaves Brazil reeling

  

  Bloomberg The resignation of Sergio Moro, the Brazilian judge who gained superstar status for taking down a network of corrupt politicians and CEOs, set off a storm in President Jair Bolsonaro’s administration. Pot-banging protests erupted across the country as the president spoke to refute Moro’s allegations that he had tried to interfere with federal police investigations. “I was promised carte ...

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• 25 April

  EU says China deflected blame for pandemic

  

  Bloomberg The European Union’s foreign and diplomatic wing said there’s evidence of a “coordinated push” by official Chinese sources to deflect blame for the coronavirus pandemic and promote its response to the virus. Official Chinese sources have been “publicising announcements and deliveries of bilateral assistance, with polls in certain countries showing China being perceived as more helpful in fighting the ...

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• 25 April

  India allows small stores to reopen

  

  Bloomberg India’s government is allowing smaller neighbourhood stores to reopen, bringing relief to residents after a month into the world’s biggest lockdown that’s restricting 1.3 billion people. The shops can deploy a maximum of 50% of their staff, all wearing masks and following social distancing rules, according to the order issued by the home ministry. The order includes standalone stores ...

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• 25 April

  HK police rejects group’s request for May 1 march

  

  Bloomberg Hong Kong police rejected an application by a pro-democracy labour group to hold a march on May 1, citing concerns about public health and security risks, the government said in a statement. The Hong Kong Confederation of Trade Unions had proposed to hold the march in groups of four spaced at least 1.5 metres apart. It expressed concern in ...

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• 25 April

  Court not to halt Trump public charge rule amid outbreak

  

  Bloomberg The US Supreme Court let President Donald Trump’s administration keep using a tough test to screen out green card applicants who might become dependent on government benefits, refusing to halt the policy because of the Covid-19 outbreak. With no published dissents, the justices rejected a request from a New York-led group of state and local governments that said emergency ...

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