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U.K. Baby Steps, Italy’s Bad Memories, Dalio Dishes: Eco Day
U.K. Baby Steps, Italy’s Bad Memories, Dalio Dishes: Eco Day
13 May 2020, 12:40 PM IST
(Bloomberg) -- Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
(Bloomberg) -- Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The U.K. will begin taking “baby steps” toward reopening its economy -- even as signs suggest the government is digging in for the long haul. Meanwhile, retail sales dropped in April by the most in at least a quarter-century
- In Italy, memories of past market mayhem -- such as a 1992 run on the lira -- have re-emerged along with the old fault lines following the economic shock of the coronavirus lockdowns
- Two ECB officials spoke out in defense of their bond-buying strategy a week after Germany’s top judges questioned its legality
- Europe’s biggest banks differ on how severely the coronavirus will hit the economy, making for widely varying expectations of how much of their loan books will go bad
- For years, Czech billionaire Andrej Babis -- now the prime minister -- wanted to run his country like a business. The coronavirus pandemic finally gave him the chance
- Norway plans to draw a record $37 billion from its wealth fund, forcing the world’s biggest sovereign investor to embark on an historic asset sale to generate cash
- Russia’s borrowing costs dropped to a record low as investors bet that a deep economic slump this year will force the central bank to keep cutting interest rates
- Ray Dalio, James Gorman and Meg Whitman are among those opining on how the coronavirus pandemic will change the world
- Fed officials warned the U.S. economy will experience a decline of historic proportions in the current quarter, and might see massive bankruptcies that could leave a lasting scar. Jerome Powell and his Fed colleagues are staring down the possibility of mass bankruptcies and long-lasting unemployment
- U.S. government spending to blunt the pandemic blow led to a record $737.9 billion deficit in April
©2020 Bloomberg L.P.
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