Your Weekend Reading: Global Shock
Empty public spaces, shuttered hangouts, closed bars and upended calendars are becoming the new normal across much of America and the U.K. In Italy, where the coronavirus has lingered longer, delay in detection and testing has yielded disastrous results, with thousands dead. The global economy meanwhile is straining, and recession risk is shifting the political calculus. Donald Trump has proclaimed himself a “wartime” president as U.S. governors decry continuing White House floundering. In Germany, Chancellor Angela Merkel softened her resistance to joint European debt, but it may not be enough because the supply chain shock is now global.
What you’ll want to read this weekend
What you’ll need to know next week
- Watch for more bailout talks: airlines are prime candidates.
- Finance chiefs from the G-7 hold a virtual summit.
- Good timing? Walt Disney starts its streaming service in Europe.
- U.S. filings for jobless benefits are poised for a historic surge.
- Porsche reports earnings as the world’s factories close.
What you’ll want to see in Bloomberg Photos
With California’s 40 million residents directed to stay home and New York tallying the most infections of any state, U.S. cities are shutting down. Everything from Florida beach trips to the Metropolitan Opera’s season is being canceled. Even Bourbon Street is going quiet.
©2020 Bloomberg L.P.