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Bloomberg German Chancellor Angela Merkel’s government should finance a stimulus plan worth as much as 150 billion euros ($162 billion) to help offset the economic fallout from the coronavirus crisis, Bavarian state leader Markus Soeder said. Measures taken by Merkel administration, including an existing $610 billion liquidity program for companies, are insufficient, Soeder said. His comments come as the government ...

Bloomberg The Swiss watch industry has survived lickings before, but Rolex, Omega and Cartier now face a combination of economic punches putting them back on their heels. The industry was adapting to downturn from political protests in its largest market, Hong Kong, when coronavirus outbreak hit. Meanwhile, Swiss franc, surging gold prices, and store closures are set to saddle firms ...

Bloomberg As companies and government agencies send their employees home to avoid contact with the coronavirus, many cybersecurity teams are facing the unenviable challenge of securing sprawling, vulnerable networks. Every time an employee connects to their corporate network from home, they’re creating possible access points for hackers to exploit. When this happens 1,000 times on a single network almost overnight, ...

Bloomberg The Trump administration escalated its attacks on China over the coronavirus, as US officials publicly alleged that Beijing concealed and minimised the spread of the disease within its borders until it was too late to stop a global outbreak. President Donald Trump and Secretary of State Michael Pompeo called the disease the “Chinese virus” at a White House news ...

Bloomberg Mexico’s foreign minister said the country won’t yet suspend flights from Europe, contradicting US President Donald Trump, but it will restrict land travel across its northern border. Trump said in a news conference earlier on March 20 that Mexico had taken action to secure the border and suspend air travel from Europe. At his own news conference hours later, ...

Bloomberg North Korea appears to have fired two short-range ballistic missiles into the sea shared with Japan, hours after leader Kim Jong-un oversaw a military exercise. South Korea said it had detected the projectiles fired from North Pyongan Province near the West Sea and that they travelled 410 kilometers (255 miles). Japan’s coast guard confirmed that the projectiles fell outside ...

Bloomberg New Zealand Prime Minister Jacinda Ardern announced a coronavirus alert system with escalating restrictions on human contact, travel and business operations as the risk of community transmission grows. In a televised address to the nation on Saturday, Ardern said New Zealand had moved to level two on the four-tier system, signalling the virus is contained but domestic transmission risks ...

Bloomberg UK Prime Minister Boris Johnson, US President Donald Trump and other leaders want to ramp up coronavirus testing. There’s just one problem: Providers of the diagnostics can’t make enough kits to keep up with demand. The UK will soon be testing 25,000 people a day for the virus, Johnson said at a press conference, and that could eventually rise ...

By now, it must be obvious to almost everyone that we can’t — and won’t — escape another recession. The coronavirus pandemic is pushing just about every major segment of the US economy into serious decline. Frightened consumers are cutting their purchases. Businesses have already curbed investment spending and, facing new uncertainties, are likely to retrench further. Global trade has ...

They are the most numerous and lowest-paid US healthcare workers: the 4.5 million caregivers who assist elderly and disabled people with such daily activities as bathing, dressing, feeding and toileting. Compared to other medical workers, they have the most frequent and personal contact with the elderly. That puts them on the front lines of the coronavirus pandemic. Known in the ...