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Bloomberg Russian President Vladimir Putin’s government plans to dramatically ramp up stimulus measures to prop up an economy that is lurching towards recession. The government will roll out about 1 trillion rubles ($13.5 billion) of new spending, according to two people familiar with the plans, who asked not to be named because discussions are ongoing. Some of the money will ...

Bloomberg Virgin Trains USA is poised to win $10 million in tax credits from California’s economic development agency for its proposed passenger rail to Las Vegas from a southern California desert city. The company, backed by Fortress Investment Group private equity funds, has said the project will generate construction jobs and full-time and part-time posts, as well as boost housing ...

Bloomberg UK businesses are struggling to access the cash they need as government efforts fall short, according to the British Chambers of Commerce. Just 1% of companies surveyed by the BCC had managed to access Chancellor Rishi Sunak’s Coronavirus Business Interruption Loan Scheme (CBILS). Eight percent said they had been unsuccessful, citing the complexity of the application process, slow responses ...

Bloomberg Ride-hailing company Bolt Technology OU is seeking credit support from the Estonian government after a switch to quarantine-friendly services didn’t make up for lost revenue and it couldn’t access bank lending under existing state guarantee terms. The service formerly known as Taxify, a rival to Uber Technologies Inc., is asking for $54 million in loans through a state fund ...

Bloomberg In late March, Arnold Mergell delivered an urgent message to Germany’s political elite. Standing in front of a row of blue metal barrels, he complained that the funds needed by small and mid-sized companies like his to survive the coronavirus crisis weren’t getting through fast enough. “The bazooka’s been loaded, but the trigger is stuck,” said Mergell, who runs ...

Bloomberg American deaths from the coronavirus passed Italy’s, affirming the US’s spot as the epicenter of the global pandemic. Deaths from the virus reached more than 19,880 in the US, according to data compiled by Johns Hopkins University. Italy had almost 19,500 fatalities. The US figure will rise throughout the day as more states report data. The heavy toll in ...

Bloomberg UK Prime Minister Boris Johnson was discharged from hospital after a week, including three days in intensive care as he battled coronavirus. “On the advice of his medical team, the PM will not be immediately returning to work,” Johnson’s office said on Sunday. The premier will continue his recovery at his country retreat, Chequers. Johnson was taken to the ...

Bloomberg Spain reported 619 deaths from the coronavirus on Sunday as the total number of people who have died in the country approaches 17,000. Fewer new cases of the disease were reported than the day before. There were 4,167 new infections in the 24 hours through Sunday, pushing the total above 166,000, according to Health Ministry data. The death toll ...

Bloomberg Japan’s Economy Minister Yasutoshi Nishimura urged residents to further limit contact with other people and warned it could take up to three months to contain the spread of coronavirus unless social distancing was followed more strictly, according to Nikkei. Japanese residents need to reduce contact with other people by 80% to contain the spread of the virus, Nikkei cited ...

Bloomberg Boris Johnson’s government suffered another public relations blow and came under pressure to recall parliament after the country’s death count from the new coronavirus approached 10,000. In her first public appearance for several weeks, Home Secretary Priti Patel led the daily government briefing and was asked to apologise for previous comments by Health Secretary Matt Hancock, who had said ...