(Bloomberg) -- A top U.S. official suggested Beijing sent airline passengers to spread the coronavirus worldwide, as the Trump administration stepped up its campaign of blaming China for the pandemic.Japan’s economy sank into a recession, while Thailand’s economy contracted for the first time since 2014 due to the virus. Federal Reserve Chairman Jerome Powell said a U.S. recovery could stretch through the end of next year and depend on the delivery of a vaccine.India extended its nationwide lockdown to the end of the month while easing some curbs. Germany recorded a small increase in cases, though the daily death toll fell. Indonesia ruled out an immediate easing of social distancing rules as cases continue to spike.Key Developments:Virus Tracker: Cases top 4.7 million; deaths exceed 315,000Pandemic shatters world order, sowing anger and mistrustChina faces angry world seeking virus answers at key WHO meetingHow Germany’s relentless contact tracers helped beat virusItaly shops to...
May.18 -- April's rally in stock markets "was a classic case of a bear market rally," according to Rebecca Chesworth, senior equities strategist at State Street Global Advisors. She speaks on "Bloomberg Markets: European Open."...
(Bloomberg) -- When English vineyards started producing sparkling wine that aficionados lauded as a rival to Champagne, Jack McIntyre took note.“England was suddenly growing grapes that typically grew in warmer climes,” said McIntyre, a three-decade investment veteran at Philadelphia-based Brandywine Global Investment Management. “No doubt temperatures are rising -- how you properly price climate change in rates markets though, I have no answer for yet.”He’s not alone.Across continents, bond investors are struggling to answer what Deutsche Bank AG strategists dubbed “the question of our age” -- how much societies are willing to sacrifice in economic growth to counter climate change, and what that spells for the world’s $31 trillion sovereign debt market.“It’s frankly very difficult to answer,” said Shamik Dhar, London-based chief economist for BNY Mellon Investment Management. “Some of the worst aspects of climate change haven’t been priced.”The stakes have never been higher. Governments are selling debt at a breakneck...
Panasonic Corp's finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla and they are in talks to expand their joint plant in Nevada, which is now profitable. The positive outlook comes after production troubles and delays at Tesla strained the company's partnership with Panasonic over the past few years. Panasonic recently lost its status as Tesla's exclusive battery supplier, but has been able to turn around the U.S. joint battery business as demand for Tesla's electric cars soar....
