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Bloomberg A second hit could be coming for China’s economy after its initial shock from the coronavirus, said Joe Davis, chief economist at fund giant Vanguard Group. While China has seen new cases of the virus slow, its spread is intensifying in the US and Europe. Should that trend keep hammering the economies of both regions, it could knock a ...

Bloomberg Global central bankers enter a new week under fresh pressure to outline the next steps in their battle to address the impact of the coronavirus outbreak. Policy makers got a wakeup call last week as the Federal Reserve’s emergency interest rate cut did little restore confidence, leaving officials hunting for innovative ways to add stimulus that can have a ...

Bloomberg Intesa Sanpaolo SpA will go ahead with its plan to take over smaller rival UBI Banca SpA if at least 50.1% of its shareholders adhere to the offer, Chief Executive Officer Carlo Messina said in an interview with Corriere della Sera. “Given the value of the deal for the country, as well as for Intesa Sanpaolo and UBI itself, ...

Bloomberg The fallout from the global spread of coronavirus may be starting to affect credit and funding markets, according to JPMorgan Chase & Co. Supply-chain disruptions and demand shock from the virus fallout could already be causing cash-flow problems for businesses, JPMorgan strategist Nikolaos Panigirtzoglou wrote in a note. That’s probably even more true for smaller companies and those in ...

Bloomberg The governing council of the European Central Bank (ECB) has ended the limit imposed on the exposure of Greek lenders to the country’s sovereign debt, Greece’s Finance Minister said. The ECB believes that the reasons and conditions that led to the March 2015 decision no longer exist, Christos Staikouras said in an emailed statement, citing rising deposits, the improved ...

Bloomberg The Czech central bank pushed back against billionaire Prime Minister Andrej Babis’s criticism of its efforts to curb inflation with higher borrowing costs. The surprising February rate increase — the only one globally this year — prompted a rebuke from Babis, who said such moves are boosting banks’ earnings while hurting the economy during a slowdown. The bank is ...

Bloomberg Brazil’s central bank announced it will sell dollars in the spot market for the first time this year, boosting its efforts to support the currency after a dire week. Policy makers will offer as much as $1 billion in a spot dollar auction. The central bank had been stepping into the foreign exchange markets only via swap auctions, of ...

Bloomberg Airbus SE is considering a cut in A330neo jet production after the wide-body’s biggest customer said a coronavirus-driven slump in travel had forced it to defer deliveries, according to people familiar with the matter. The planemaker may make a decision as soon as this month, the people said, asking not to be identified because the deliberations are private. In ...

Bloomberg The coronavirus outbreak couldn’t have come at a worse time for PT Garuda Indonesia, pummeling demand at the flag carrier just as it faces a debt bill for half a billion dollars. Debt market concern about sagging travel demand and the impact of financial market turmoil has caused Garuda’s $500 million notes due on June 3 to tumble to ...

Bloomberg An outbreak of four coronavirus cases tied to a Vietnam Airlines flight from London to Hanoi triggered hoarding in the Southeast Asian country’s capital, the lockdown of a central city neighbourhood and the home quarantine of an investment minister aboard the aircraft. A growing sense that the virus may be bypassing Vietnam, which hadn’t reported an official case in ...