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Today β€” July 12th 2020Business

As beach towns open, businesses are short foreign workers

As beach towns open, businesses are short foreign workersAt this time of the year, The Friendly Fisherman on Cape Cod is usually bustling with foreign students clearing tables and helping prepare orders of clam strips or fish and chips. “It's really disturbing because we are really busy,” said Demetri. The Trump administration announced last month that it was extending a ban on green cards and adding many temporary visas to the freeze, including J-1 cultural exchange visas and H-2B visas.


  • July 12th 2020 at 07:02

Ex-Nissan boss Ghosn says helping everyone who stood by him

Ex-Nissan boss Ghosn says helping everyone who stood by himFormer Nissan Motor chairman Carlos Ghosn is helping everyone who stood by him, he said in an interview broadcast on Saturday, though he declined to comment on cases of people accused of helping him flee to Lebanon from Japan. Ghosn, the ex-chairman of an automaking alliance of Renault SA, Nissan Motor Co and Mitsubishi Motors Corp was arrested in Japan in late 2018 on charges of underreporting his salary and using company funds for personal purpose - charges he denies. In late December, he made a dramatic escape from house arrest in Japan, where he was awaiting trial, and fled to Beirut, his childhood home.


  • July 12th 2020 at 06:56

Mixed reaction from Hong Kong expats to UK visas offer

Mixed reaction from Hong Kong expats to UK visas offerHong Kong expatriates living in Britain have welcomed London's pledge of "a pathway to future citizenship" for millions of the territory's residents after China imposed a controversial security law there. "It is helpful -- it sends a strong message of hope to Hong Kongers, many of whom are waiting to be rescued from their city," a 35-year-old financial analyst living in London since 2005, who asked to remain anonymous, told AFP. With relatives still in Hong Kong, he is very worried about their fate, especially those of university age.


  • July 12th 2020 at 06:40

UK plans to create 'freeports,' cut taxes - Sunday Telegraph

UK plans to create 'freeports,' cut taxes - Sunday TelegraphBritish finance minister Rishi Sunak is preparing to introduce sweeping tax cuts and an overhaul of planning laws in up to 10 new “freeports” within a year of the UK's becoming fully independent from the European Union in December, the Sunday Telegraph said. Sunak will open the bidding for towns, cities and regions to become freeports, which would place them outside UK customs territory, in his autumn budget later this year, the newspaper said, citing a copy of the plans it said it had seen. Sunak plans to confirm the successful bids by next spring and introduce major tax and regulatory changes in those areas at next year’s budget, the Telegraph added.


  • July 12th 2020 at 06:37

Coronavirus leaves Spain's interior a tourist desert

Coronavirus leaves Spain's interior a tourist desertThe Santos Bar, across from Cordova's celebrated mosque, would normally be groaning with tourists tucking into its trademark Spanish tortillas. The Mezquita, an eighth-century mosque later turned into a cathedral, is the most visited site in the Andalusian town in southern Spain. "It will take months to make that up," said church spokesman Jose Juan Jimenez Gueto, although money set aside in previous years means staff have been kept busy with restoration projects.


  • July 12th 2020 at 06:28

WHO struggles to prove itself in the face of Covid-19

Donald Trump’s rejection of UN body highlights problems over politics, science and funding

  • July 12th 2020 at 06:00

Africa/internet access: the cloud above

Google’s Loon project in Kenya is a test of whether the balloon-based service can be profitable

  • July 12th 2020 at 06:00

ISS urges companies to disclose ethnicity of directors

Action by proxy adviser comes as pressure builds to diversify US boardrooms

  • July 12th 2020 at 06:00

The $6bn judgment pitting Nigeria against a London court

A legal challenge by the west African state has sparked questions about transparency in arbitration courts

  • July 12th 2020 at 06:00

Financial crisis veteran happy to take a back seat as recession looms

Colm Kelleher, the former Morgan Stanley president, wanted to leave the bank with his career ‘at a high’

  • July 12th 2020 at 06:00

Asia Today: No masks on red carpet as Taiwan logs few cases

Asia Today: No masks on red carpet as Taiwan logs few casesTaiwan wrapped up an annual film festival with an awards ceremony Saturday night as it holds more public events after keeping its coronavirus outbreak to a few hundred cases. Actors and others lined up for photo shoots with no social distancing, and participants didn’t wear masks in historic Zhongshan Hall in Taipei. Taiwan, with a population of about 23 million people, has had 451 confirmed cases and seven deaths.


  • July 12th 2020 at 03:51

Fox News: Tucker Carlson writer Blake Neff resigns over racist messages

Fox News: Tucker Carlson writer Blake Neff resigns over racist messagesThe writer for host Tucker Carlson posted highly offensive messages online under the name CharlesXII.


  • July 12th 2020 at 06:07

Microsoft and Google team up to bring more web apps to the Play Store

Microsoft and Google team up to bring more web apps to the Play StoreMicrosoft and Google are working together to improve web apps on Android devices.


  • July 12th 2020 at 05:59

Wall Street's Big Tech enthusiasm getting stronger

Wall Street's Big Tech enthusiasm getting strongerTech stocks were going strong even before COVID-19, but behavioral shifts during the pandemic have lifted the sector further into the stratosphere, leaving the broader stock market far behind. The tech-dominated Nasdaq Composite Index has closed at records in six of the last seven sessions, reflecting investors' confidence that tech companies benefit from the so-called "stay-at-home" trade even as the market has pummeled airlines, hotels and brick-and-mortar retailers. "There's clear winners and losers right now in the market," said Dan Ives, an analyst at Wedbush Securities, who thinks the biggest tech giants could still gain another 30 percent this year.


  • July 12th 2020 at 05:50

Mali president tries to calm unrest with court dissolution

Mali president tries to calm unrest with court dissolutionMali's embattled president announced the dissolution of the constitutional court in an attempt to calm the major civil unrest gripping the vulnerable African country, as more opposition leaders were arrested. The court has been at the centre of controversy since it overturned provisional results for a parliamentary poll earlier this year, triggering protests in several cities that on Friday descended into violence. Clashes raged again in the capital Bamako on Saturday as demonstrators -- angered by a long-running jihadist conflict, economic woes and perceived government corruption -- demanded the resignation of President Ibrahim Boubacar Keita.


  • July 12th 2020 at 05:44

US town grows money from trees during pandemic downturn

US town grows money from trees during pandemic downturnTenino had become a ghost town, and small businesses were struggling to survive amid the coronavirus pandemic, so local officials revived an unconventional idea from the last century: printing the town's own currency on thin planks of wood. "We were getting a lot of calls from businesses saying they were not sure if they would be able to hang on," he told AFP. Known as "Tenino dollars," "COVID dollars" or, sometimes, "Wayne dollars" after the mayor himself, the bills are traded at almost all shops in the town at a fixed rate equivalent to $1.


  • July 12th 2020 at 05:11

Trading set to triumph in US banks’ quarterly earnings

Gains will be overshadowed by another bumper period of loan-loss provisions stemming from pandemic

  • July 12th 2020 at 05:00

China Gives World First View of Post-Lockdown Rebound: Eco Week

China Gives World First View of Post-Lockdown Rebound: Eco Week(Bloomberg) -- The country first hit by the coronavirus pandemic will this week have a clearer picture of its progress on nursing the economy back to health.China reports second-quarter gross domestic product on Thursday, along with monthly readings for industrial output and retail sales. An easing of lockdown measures plus a modest amount of policy stimulus should be enough to post a positive growth rate, after the historic 6.8% collapse in the first quarter.Economists forecast a 2.5% expansion in the three months to June, with the recovery momentum largely unscathed even after a fresh outbreak in Beijing prompted the return of some controls on movement.That flare-up served as a reminder that even amid a strengthening domestic economy, consumption remains weak and vulnerable to sudden downturns. As the world’s manufacturing hub, China is also still suffering from the collapse in global demand amid the pandemic.What Bloomberg’s Economists Say:“A clear upturn in China’s industrial production suggests the economy expanded in 2Q after cratering in 1Q due to the coronavirus impact. Even so, weakness in private and external demand means the pace of growth is likely to be well below historical levels. Activity data for June are expected to show the recovery has withstood a resurgence in Covid-19 cases in Beijing.”\--Chang Shu and David Qu, Bloomberg Economics. For full preview, click hereElsewhere, it’s a busy week for central banks, with policy makers in Japan, South Korea, Indonesia, Canada, Chile, Poland and the euro area among those setting policy.Click here for what happened last week and below is our wrap of what else is coming up in the world economy.U.S. and CanadaIn the U.S., the economic calendar gets busier with retail sales and jobless claim data taking center stage. Retail sales continued to bounce back in June, with forecasts calling for a smaller-yet-still-robust advance -- after a record surge a month earlier as state economies reopened from lockdowns.Other reports are projected to show firmer new-home construction and industrial output in June, while consumer sentiment improved slightly in early July. At the same time, a recent rise in coronavirus cases calls into question the strength of the economic rebound in coming months.It’s also the last week that Federal Reserve officials will make the rounds before a blackout on their public speeches begins Friday at midnight ahead of the July 28-29 meeting. Regional Fed presidents including John Williams, Robert Kaplan, Charles Evans, Pat Harker and Jim Bullard are set to speak. The Fed’s Beige Book is released on Wednesday.In Canada, the central bank will announce its next steps in policy on Wednesday as it transitions from emergency financing toward keeping the expansion alive.For more, read Bloomberg Economics’ full Week Ahead for the U.S.Europe, Middle East and AfricaWith the European Central Bank expected to keep policy unchanged when it meets on Thursday, investors will be looking for any signs whether officials think more stimulus measures may be needed down the line to aid the euro area’s fragile recovery. Poland’s central bank will also meet on interest rates, with no changes anticipated.Sweden’s Riksbank will publish minutes of its June 30 meeting, in which officials ramped up stimulus and pledged to buy corporate bonds. Ukrainian President Volodymyr Zelenskiy is expected to nominate a candidate to replace central bank Governor Yakiv Smoliy after his shock resignation.On the data front, investors will be watching for new figures on the U.K. economy for May after the biggest drop on record in April, with June figures for inflation and jobless claims also due. Norway will announce estimates for economic output in May, amid forecasts of a 5% contraction this year. Inflation numbers are scheduled for Israel, South Africa and Nigeria, while Russia and Turkey are set to get the latest readings for industrial production.For more, read Bloomberg Economics’ full Week Ahead for EMEAAsiaBoth the Bank of Japan and the Bank of Korea are expected to stand pat as they assess the effectiveness of the virus-response measures they have rolled out so far. Indonesia is set to cut rates again on Thursday, according to early expectations from economists.For more, read Bloomberg Economics’ full Week Ahead for AsiaLatin AmericaOn Tuesday, Brazil’s economic activity report for May could surprise after sales and output improved over April’s historic declines. While Brazil’s patchwork coronavirus response helped to underpin its economy, an uncompromising national lockdown throttled Peru’s: May’s economic activity index posted Wednesday may only show limited improvement over April’s 40% drop.In a similar vein, Colombia’s retail sales data for May will likely rival April’s record 43% fall.Chile’s central bank will all but certainly keep its key rate at a record low 0.5% while possibly expanding bond buybacks.For more, read Bloomberg Economics’ full Week Ahead for Latin AmericaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • July 12th 2020 at 04:00

Asia Today: No masks on red carpet as Taiwan logs few cases

Asia Today: No masks on red carpet as Taiwan logs few casesTaiwan wrapped up an annual film festival with an awards ceremony Saturday night as it holds more public events after keeping its coronavirus outbreak to a few hundred cases. Actors and others lined up for photo shoots with no social distancing, and participants didn’t wear masks in historic Zhongshan Hall in Taipei. Taiwan, with a population of about 23 million people, has had 451 confirmed cases and seven deaths.


  • July 12th 2020 at 03:51

Β£705m to ensure Britain's borders 'fully operational' when out of EU

The government will spend £705m to secure Great Britain's border after leaving the EU, including a lorry park in Kent to deal with potential disruption.

  • July 11th 2020 at 16:56
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