April, 2020

• 1 April

  Ford, GE plan to produce 50,000 units of ventilators in 100 days

  

  Bloomberg Ford Motor Co. is speeding up plans to produce ventilators in cooperation with General Electric Co. by selecting a simpler design of the medical devices and will aim to churn out 50,000 units in the next 100 days. The automaker will convert an auto-parts plant in Michigan to make breathing machines designed by Airon Corp. and licensed by GE ...

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• 1 April

  Putin sends military jet with coronavirus aid to help US

  

  Bloomberg A Russian military plane loaded with medical equipment took off from outside of Moscow on Wednesday after President Vladimir Putin offered Donald Trump help for the US battle with coronavirus. “The Russian side offered assistance amid the dire epidemiological situation in America,” Kremlin spokesman Dmitry Peskov told state-run Channel One. “Trump gratefully accepted this humanitarian aid.” After his comments, ...

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• 1 April

  White House not to reopen Obamacare exchanges for virus

  

  Bloomberg President Donald Trump will not reopen the Obamacare exchanges to allow uninsured Americans to purchase healthcare coverage during the coronavirus pandemic, a White House official said. The decision comes after the president said last week he was considering a special enrollment period to allow individuals to purchase insurance during the crisis — a move that had been endorsed by ...

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• 1 April

  Europeans face Easter indoors as Spain suffers deadliest day

  

  Bloomberg Spain reported its deadliest day yet in the coronavirus pandemic, offering a grim reminder of the risks as Germany and Italy moved to prolong rigid lockdown measures until after Easter on April 12. There were 864 new coronavirus fatalities in Spain on Wednesday, as the number of confirmed cases increased to more than 102,000. Spain, which has been in ...

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• 1 April

  Ramaphosa can reform South Africa!

  

  Bloomberg Faced with the biggest challenge of any post-apartheid South African leader, President Cyril Ramaphosa has also been given a rare opportunity to push through the painful reforms the economy needs. The twin crises of the coronavirus pandemic and the country losing the last investment-grade rating on its debt have silenced his critics, both within his party and the opposition. ...

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• 1 April

  Covid-19: Italy to extend nationwide lockdown

  

  Bloomberg The Italian government will extend its nationwide lockdown to April 13, as relaxing rules too early would negate efforts to counter the spread of the coronavirus, Health Minister Roberto Speranza said. “Getting the timing wrong or taking decisions too early would end up cancelling out the work done in these very difficult weeks,” Speranza told the Senate in Rome. ...

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• 1 April

  Europe stocks decline with US futures; dollar climbs

  

  Bloomberg Stocks fell in Europe and Asia along with US equity futures as investors took in worsening American coronavirus figures and assessed the impact of the pandemic on corporate profits and dividends. The dollar climbed with Treasuries. Banks led the decline in the Stoxx Europe 600 index after lenders including HSBC Holdings Plc and Standard Chartered Plc halted dividends and ...

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• 1 April

  Covid-19: India budget under severe strain as new fiscal year begins

  

  Bloomberg India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended on April 1, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus relief package of ...

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• 1 April

  HSBC, StanChart tumble after regulators push to axe payouts

  

  Bloomberg The British banking regulator pressed firms including HSBC Holdings Plc to scrap dividends and cash payouts for its top staff as the coronavirus pandemic upends the industry. HSBC and Standard Chartered Plc shares tumbled after they and Royal Bank of Scotland Group Plc, Barclays Plc and Lloyds Banking Group Plc canceled outstanding dividends and buybacks and said there would ...

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• 1 April

  Goldman quadruples profit hit for Europe banks to $131 billion

  

  Bloomberg European banks are likely to see 120 billion euros ($131 billion) in potential profit disappear over the next three years as the spreading coronavirus upends clients and economies, according to Goldman Sachs Group Inc. Goldman Sachs analysts led by Jernej Omahen shredded their profit forecasts for the sector through 2023 by 27%, four times the 30-billion euro hit to ...

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