💰 Federal Reserve Chairman Jerome Powell reiterated his stance that more fiscal aid may be needed to further cushion the American economy: https://bloom.bg/3bNdmIX
💵 U.S. Treasury Secretary Steven Mnuchin said he plans to use all of the $500 billion that Congress provided to help the economy: https://bloom.bg/3dYBsBU
✈ American airlines reported signs that travel demand is perking up, suggesting the beginnings of a rebound from an unprecedented collapse: https://bloom.bg/36bEQGY
💵 U.S. Treasury Secretary Steven Mnuchin said he plans to use all of the $500 billion that Congress provided to help the economy: https://bloom.bg/3dYBsBU
✈ American airlines reported signs that travel demand is perking up, suggesting the beginnings of a rebound from an unprecedented collapse: https://bloom.bg/36bEQGY
📉 Extreme behavior is on display everywhere in the stock market. These seven charts show the flash points. https://bloom.bg/36h8VEQ
🌪 The biggest storm in 20 years is about to hit the coasts of India and Bangladesh. Authorities are preparing to evacuate over 5 million people, which presents new challenges for social distancing. https://bloom.bg/2XcYFtl
🇦🇺 “I should be feeling happy that my country seems to be emerging from the shadow of a pandemic without the terrible toll of death and disease paid elsewhere. In truth I have a sense of creeping dread." Our columnist David Fickling writes about the struggle of returning to "normal" in Australia. https://bloom.bg/2z4j244
🌪 The biggest storm in 20 years is about to hit the coasts of India and Bangladesh. Authorities are preparing to evacuate over 5 million people, which presents new challenges for social distancing. https://bloom.bg/2XcYFtl
🇦🇺 “I should be feeling happy that my country seems to be emerging from the shadow of a pandemic without the terrible toll of death and disease paid elsewhere. In truth I have a sense of creeping dread." Our columnist David Fickling writes about the struggle of returning to "normal" in Australia. https://bloom.bg/2z4j244
😷 A new outbreak of Covid-19 in China shows signs that the virus could be changing.
Chinese doctors are seeing the coronavirus manifest differently among patients in its new cluster of cases in the northeast region compared to the original outbreak in Wuhan.
The findings suggest the pathogen may be developing in unknown ways—complicating efforts to stamp it out. https://bloom.bg/2Xd4Ops
Chinese doctors are seeing the coronavirus manifest differently among patients in its new cluster of cases in the northeast region compared to the original outbreak in Wuhan.
The findings suggest the pathogen may be developing in unknown ways—complicating efforts to stamp it out. https://bloom.bg/2Xd4Ops
Bloomberg.com
China’s New Outbreak Shows Signs the Virus Could Be Changing
Chinese doctors are seeing the coronavirus manifest differently among patients in its new cluster of cases in the northeast region compared to the original outbreak in Wuhan, suggesting that the pathogen may be changing in unknown ways and complicating efforts…
The health of 7.8 billion people around the world is stuck in a dangerous place between China and Donald Trump. 🇨🇳🇺🇸
As the World Health Organization fights the worst pandemic in a century, it’s also facing an unprecedented political challenge. As Trump threatened to permanently cut off U.S. funding to the agency, Xi Jinping declared his support for it.
There’s no question the WHO does an immense volume of invaluable work. But in a world that will, for the foreseeable future, be more alert than ever to the threat of infectious disease, some experts are calling for a review of its powers and protocols.
Keep reading: https://bloom.bg/2ANIPhk
As the World Health Organization fights the worst pandemic in a century, it’s also facing an unprecedented political challenge. As Trump threatened to permanently cut off U.S. funding to the agency, Xi Jinping declared his support for it.
There’s no question the WHO does an immense volume of invaluable work. But in a world that will, for the foreseeable future, be more alert than ever to the threat of infectious disease, some experts are calling for a review of its powers and protocols.
Keep reading: https://bloom.bg/2ANIPhk
😷 A cluster of Covid-19 cases in China has intensified worry over a second wave of coronavirus infections. https://bloom.bg/2AOF8bc
💰 AstraZeneca received more than $1 billion in U.S. government funding for an experimental Covid-19 vaccine from the University of Oxford. https://bloom.bg/2LJfAhV
🇺🇸 The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies being barred from listing on U.S. stock exchanges. https://bloom.bg/3gcRGcr
💰 AstraZeneca received more than $1 billion in U.S. government funding for an experimental Covid-19 vaccine from the University of Oxford. https://bloom.bg/2LJfAhV
🇺🇸 The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies being barred from listing on U.S. stock exchanges. https://bloom.bg/3gcRGcr
Bloomberg.com
Why a New Virus Cluster in China Is Triggering Alarms
A cluster of Covid-19 cases in China’s Rust Belt region has intensified worry over a second wave of coronavirus infections. The central and local leadership have instituted strict measures, including halting public transport services for more than 100 million…
🚨 2.44 million Americans filed for unemployment benefits last week, signaling major job losses are persisting 2 months after the coronavirus pandemic started shuttering businesses: https://bloom.bg/2Tq8GlW
🍔 One of the world’s most famous restaurants — Noma — has reopened as a cheeseburger joint to cope with coronavirus: https://bloom.bg/2zYXqWy
👶 Working moms are reporting that they’re spending an extra 65 hours a week on unpaid labor, like chores and childcare, during the pandemic: https://bloom.bg/2zZYHg1
🍔 One of the world’s most famous restaurants — Noma — has reopened as a cheeseburger joint to cope with coronavirus: https://bloom.bg/2zYXqWy
👶 Working moms are reporting that they’re spending an extra 65 hours a week on unpaid labor, like chores and childcare, during the pandemic: https://bloom.bg/2zZYHg1
BREAKING: China is planning to impose a new national security law on Hong Kong, a move that could launch another round of mass protests across the city.
Chinese lawmakers were preparing to soon pass measures that would curb secession, sedition, foreign interference and terrorism in the former British colony, local media including the South China Morning Post reported Thursday, citing unidentified people: https://bloom.bg/36qRWjO
Chinese lawmakers were preparing to soon pass measures that would curb secession, sedition, foreign interference and terrorism in the former British colony, local media including the South China Morning Post reported Thursday, citing unidentified people: https://bloom.bg/36qRWjO
A few hours ago, we told you about China announcing dramatic plans to curtail dissent in Hong Kong by imposing a new national security law. One opposition lawmaker called it "the end of Hong Kong." https://bloom.bg/2XnZ2RO
Here’s a breakdown:
📉 The Hong Kong dollar weakened the most in six weeks and the city’s Hang Seng Index opened about 2% lower. https://bloom.bg/2TtcxyK
💻 There was spike in VPN downloads in Hong Kong after the news. Unlike in mainland China, the city still has an open internet and relatively loose constraints on online speech. https://bloom.bg/2ARrggm
🇺🇸 The move sets up a potential showdown with President Trump. He warned that the U.S. would respond to any move to curtail protests in Hong Kong, and separately two senators proposed sanctions on Chinese officials over the plans. https://bloom.bg/3cTH1S3
For more China news, sign up for our weekly newsletter: https://bloom.bg/2Tu6zxp
Here’s a breakdown:
📉 The Hong Kong dollar weakened the most in six weeks and the city’s Hang Seng Index opened about 2% lower. https://bloom.bg/2TtcxyK
💻 There was spike in VPN downloads in Hong Kong after the news. Unlike in mainland China, the city still has an open internet and relatively loose constraints on online speech. https://bloom.bg/2ARrggm
🇺🇸 The move sets up a potential showdown with President Trump. He warned that the U.S. would respond to any move to curtail protests in Hong Kong, and separately two senators proposed sanctions on Chinese officials over the plans. https://bloom.bg/3cTH1S3
For more China news, sign up for our weekly newsletter: https://bloom.bg/2Tu6zxp
An Airbus jet operated by Pakistan International Airlines crashed with 107 people on board. https://bloom.bg/3gdnOwQ
China confirmed that it would effectively bypass Hong Kong's legislature to implement national security laws. The move risks triggering yet another round of tit-for-tat escalation between the U.S. and China. https://bloom.bg/3bU5u8n
The University of Oxford and AstraZeneca have begun recruiting subjects for advanced human studies of an experimental Covid-19 vaccine. https://bloom.bg/3gdGI6z
China confirmed that it would effectively bypass Hong Kong's legislature to implement national security laws. The move risks triggering yet another round of tit-for-tat escalation between the U.S. and China. https://bloom.bg/3bU5u8n
The University of Oxford and AstraZeneca have begun recruiting subjects for advanced human studies of an experimental Covid-19 vaccine. https://bloom.bg/3gdGI6z
Bloomberg.com
Toll From Pakistani Airbus Crash in Karachi Rises to 80
A Pakistan International Airlines Corp. flight with 99 people on board crashed into a residential neighborhood of Karachi after the pilots reported losing power from both engines as the plane approached for landing.
⛪ President Trump says houses of worship are essential services, and urges state governors to open them “right now": https://bloom.bg/2XkQAmp
😷 The antimalaria drugs Hydroxychloroquine and chloroquine, which Trump has touted for treatment of Covid-19, were linked to an increased risk of death and heart ailments in a study: https://bloom.bg/3giCtqC
🚫 New York City is set to be the only region of the state on lockdown after next week: https://bloom.bg/2A1gR1f
😷 The antimalaria drugs Hydroxychloroquine and chloroquine, which Trump has touted for treatment of Covid-19, were linked to an increased risk of death and heart ailments in a study: https://bloom.bg/3giCtqC
🚫 New York City is set to be the only region of the state on lockdown after next week: https://bloom.bg/2A1gR1f
Did Japan just beat the virus without lockdowns or mass testing? 🇯🇵
The country’s state of emergency is set to end after just weeks, with new cases of the coronavirus dwindling to dozens.
Of course, there’s a looming possibility of a more severe second wave of infections. But Japan got to this point despite largely ignoring the default playbook used by other successful countries.
Whatever Japan did or didn't do, there was no silver bullet. These are some of the factors that may have made a difference: https://bloom.bg/2WZpjqI
The country’s state of emergency is set to end after just weeks, with new cases of the coronavirus dwindling to dozens.
Of course, there’s a looming possibility of a more severe second wave of infections. But Japan got to this point despite largely ignoring the default playbook used by other successful countries.
Whatever Japan did or didn't do, there was no silver bullet. These are some of the factors that may have made a difference: https://bloom.bg/2WZpjqI
Hello, here’s what we’re reading today:
🏢 Rich Chinese are snapping up luxury homes from Singapore to Sydney now that lockdowns have eased, driving up property prices. Meanwhile, real estate in New York and London is still sluggish. https://bloom.bg/3d4pLtg
📈 Only a few hedge funds made money in both March and April, according to data compiled by Bloomberg. Here’s how they did it: https://bloom.bg/3goPfne
🇭🇰 Hong Kong leader Carrie Lam defended China’s move to impose sweeping national security laws on the city, as international concern grows over what it will mean for Hong Kong’s autonomy. The move has already prompted one of the largest protests recently, with riot police firing tear gas on Sunday. https://bloom.bg/2XrTYMt
🏢 Rich Chinese are snapping up luxury homes from Singapore to Sydney now that lockdowns have eased, driving up property prices. Meanwhile, real estate in New York and London is still sluggish. https://bloom.bg/3d4pLtg
📈 Only a few hedge funds made money in both March and April, according to data compiled by Bloomberg. Here’s how they did it: https://bloom.bg/3goPfne
🇭🇰 Hong Kong leader Carrie Lam defended China’s move to impose sweeping national security laws on the city, as international concern grows over what it will mean for Hong Kong’s autonomy. The move has already prompted one of the largest protests recently, with riot police firing tear gas on Sunday. https://bloom.bg/2XrTYMt
A Chinese virologist renowned for her work on coronavirus in bats said viruses being discovered now are "just the tip of the iceberg." https://bloom.bg/3gpMXEo
Billionaire Stanley Ho, who transformed Macau into the world's biggest gambling hub, died at age 98. https://bloom.bg/36xCd2w
A U.K. government minister resigned in protest after Boris Johnson's most senior aide refused to apologize for allegedly breaching lockdown rules. https://bloom.bg/2zoAG2C
Billionaire Stanley Ho, who transformed Macau into the world's biggest gambling hub, died at age 98. https://bloom.bg/36xCd2w
A U.K. government minister resigned in protest after Boris Johnson's most senior aide refused to apologize for allegedly breaching lockdown rules. https://bloom.bg/2zoAG2C
Bloomberg.com
China’s ‘Bat Woman’ Warns Coronavirus Is Just Tip of the Iceberg
Shi Zhengli, a virologist renowned for her work on coronavirus in bats, said in an interview on Chinese state television that viruses being discovered now are “just the tip of the iceberg” and called for international cooperation in the fight against epidemics.
🌴 Cooped-up Americans desperate to get out after months of lockdowns are dreaming of doing something—anything—that resembles a vacation: https://bloom.bg/2TEW5eG
📈 U.S. stocks surged following a three-day holiday weekend, with the S&P 500 lifting past 3,000 for the first time since early March: https://bloom.bg/2TEi8Ck
😷 Wuhan, the epicenter of China’s coronavirus outbreak, said it tested nearly seven million people in 12 days: https://bloom.bg/2AVGe4O
📈 U.S. stocks surged following a three-day holiday weekend, with the S&P 500 lifting past 3,000 for the first time since early March: https://bloom.bg/2TEi8Ck
😷 Wuhan, the epicenter of China’s coronavirus outbreak, said it tested nearly seven million people in 12 days: https://bloom.bg/2AVGe4O
🇨🇳🇺🇸 The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, such as freezing assets of Chinese officials and businesses. https://bloom.bg/2ZEQ19P
The move to implement a new national security law in Hong Kong is part of a broader attempt to establish a legal precedent that would let Beijing force more laws on the city in the future, Martin Lee, a prominent pro-democracy figure, told Bloomberg TV.
Police are bracing for what could be the biggest day of protests in Hong Kong in months. Follow the latest updates here: https://bloom.bg/2ZRlztp
Meanwhile, China traders are buying Hong Kong stocks like never before. The top targets were Chinese state-owned firms. https://bloom.bg/3c9lJi2
The move to implement a new national security law in Hong Kong is part of a broader attempt to establish a legal precedent that would let Beijing force more laws on the city in the future, Martin Lee, a prominent pro-democracy figure, told Bloomberg TV.
Police are bracing for what could be the biggest day of protests in Hong Kong in months. Follow the latest updates here: https://bloom.bg/2ZRlztp
Meanwhile, China traders are buying Hong Kong stocks like never before. The top targets were Chinese state-owned firms. https://bloom.bg/3c9lJi2
💰 The EU will propose a new fiscal stimulus package of as much as $823 billion in an unprecedented push to overcome the deepest recession in living memory. https://bloom.bg/2XxVZqv
💶 The euro-area economy is facing a recession as bad as the ECB's more pessimistic forecasts, according to President Christine Lagarde. https://bloom.bg/2ZFvy4I
🇬🇧 Pressure is building on British Prime Minister Boris Johnson to fire his chief aide, Dominic Cummings. https://bloom.bg/2TGisAg
💶 The euro-area economy is facing a recession as bad as the ECB's more pessimistic forecasts, according to President Christine Lagarde. https://bloom.bg/2ZFvy4I
🇬🇧 Pressure is building on British Prime Minister Boris Johnson to fire his chief aide, Dominic Cummings. https://bloom.bg/2TGisAg
Bloomberg.com
EU Aims to Back Struggling South With Fiscal Shock and Awe
The European Commission unveiled an unprecedented stimulus plan to tackle the worst recession in living memory and underwrite struggling Italy’s membership of the 27-nation bloc.
❌ The U.S. has certified that Hong Kong is no longer politically autonomous from China, a move that could have far-reaching consequences on Hong Kong's special trading status with the U.S.: https://bloom.bg/3c7QYtV
📄 What Hong Kong losing its "special status" would mean: https://bloom.bg/2XztM2u
📉 U.S. stocks are mixed as rising tensions with China add pressure on multinational companies: https://bloom.bg/2B9eYjB
📄 What Hong Kong losing its "special status" would mean: https://bloom.bg/2XztM2u
📉 U.S. stocks are mixed as rising tensions with China add pressure on multinational companies: https://bloom.bg/2B9eYjB
🌎 Coronavirus deaths in the U.S. topped 100,000, the highest official toll in the world. It’s as if the entire city of Albany, New York, vanished. https://bloom.bg/2X7fZB1
The number is equal to two sold-out Yankee Stadiums. Now, after battles over masks, distancing and unthinkable economic destruction, all 50 states have begun a reopening intertwined with election politics and fear.
📈 But the line on the nation’s death chart is still pointing upward, and “superforecasters” say a vaccine is a ways off. https://bloom.bg/2M4xLi3
The number is equal to two sold-out Yankee Stadiums. Now, after battles over masks, distancing and unthinkable economic destruction, all 50 states have begun a reopening intertwined with election politics and fear.
📈 But the line on the nation’s death chart is still pointing upward, and “superforecasters” say a vaccine is a ways off. https://bloom.bg/2M4xLi3
Breaking: 🇨🇳 China has approved a proposal for sweeping new security laws expected to curb Hong Kong's freedoms, despite a threat from Trump and fierce protests.
Chinese officials could now take months to sort out the details of laws banning subversion, secession, terrorism and foreign interference.
The move risks triggering yet more demonstrations in the city and could potentially prompt companies to flee. Read more here: https://bloom.bg/3esdT4Q
Chinese officials could now take months to sort out the details of laws banning subversion, secession, terrorism and foreign interference.
The move risks triggering yet more demonstrations in the city and could potentially prompt companies to flee. Read more here: https://bloom.bg/3esdT4Q
Bloomberg.com
China Approves Hong Kong Security Legislation, Defying Trump
Chinese lawmakers approved a proposal for sweeping new national security legislation in Hong Kong, defying a threat by U.S. President Donald Trump to respond strongly to a measure that democracy advocates say will curb essential freedoms in the city.
💰 The EU's top economic officials warned that the bloc's $826 billion recovery package will come with strings attached. https://bloom.bg/2M2Jdeh
👍 Swiss politicians have decided that sex workers can soon get back to business while judo, boxing, wrestling and dancing will remain prohibited. https://bloom.bg/2AjjxHn
😷 This is how deeply the coronavirus changed human behavior. https://bloom.bg/36DCocD
👍 Swiss politicians have decided that sex workers can soon get back to business while judo, boxing, wrestling and dancing will remain prohibited. https://bloom.bg/2AjjxHn
😷 This is how deeply the coronavirus changed human behavior. https://bloom.bg/36DCocD
Bloomberg.com
EU’s $826 Billion Recovery Fund Will Have Strings Attached
The European Union’s top economic officials warned that the bloc’s 750 billion-euro ($826 billion) recovery package won’t give countries blank checks, as grants and loans will be conditional on the implementation of reforms and will have to focus on the region’s…