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Business & Finanz
Bloomberg Businessweek-Europe Edition

Bloomberg Businessweek-Europe Edition

May 25, 2020

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

Land:
United Kingdom
Sprache:
English
Verlag:
Bloomberg Finance LP
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2 Min.
in brief

President Trump said he’s taking a daily dose of hydroxychloroquine, the anti-malaria pill he’s promoted as a possible cure for the coronavirus. Medical experts have cautioned against using the drug because its benefits are unproven and it can have dangerous side effects. Moderna reported positive test results from a vaccine it’s developing for the coronavirus, prompting its stock to rise as much as 30% on May 18. The euphoria wore off a day later when health website Stat highlighted the early nature of the vaccine data and cautioned that more of the drug would need to be made available by the company before drawing conclusions on its efficacy. Amphan, the biggest cyclonic storm in two decades, crossed the coasts of India and Bangladesh on May 20, forcing millions to evacuate and impeding…

3 Min.
low wages make nursing homes hotbeds for covid-19

Residents of nursing homes or similar facilities account for at least one-quarter of U.S. deaths from Covid-19. The true figure might be a lot higher. The coronavirus has spread to more than 7,000 nursing homes in all 50 states. In at least six, more than half of all Covid-19 deaths took place in long-term care facilities, according to state reports compiled by the Kaiser Family Foundation. That’s because older people are more susceptible to the infection; viruses spread quickly in crowded, closed environments; and many facilities still lack tests and personal protective equipment for employees. But one factor has received too little attention: Low-paid care workers often take jobs at multiple facilities to make ends meet—and can spread the virus from one to another. That probably happened in Washington state, where…

1 Min.
a collective debt plan

India’s central bank sets interest rates on June 5. The world’s second-most populous country is pushing a massive economic stimulus as coronavirus cases multiply. Virtual Brexit negotiations between the U.K. and the EU continue on June 1, with both sides trying to overcome an increasingly desperate stalemate. The ECB decides on interest rates on June 4. With borrowing costs already at zero, a dip into negative-rate territory looks more likely in an attempt to reboot the economy. Utility PG&E, found negligent in California’s deadliest wildfire, in 2018, will be sentenced on 84 counts of manslaughter on May 26 in state court in Chico. Deutsche Bank hosts its annual dbAccess Conference on June 3-4 in Berlin, albeit in a virtual format, to discuss trends in the banking industry and ways to finance a recovery. Tired of…

9 Min.
the superpower’s big foot

In mid-April, China engaged in what appeared to be a particularly pointless fight. With France’s death toll spiking from the novel coronavirus and its economy shuttered, China could well have offered commiserations and support. Instead, it lobbed rhetorical grenades at Paris. Beijing had taken umbrage at remarks by French officials that it had mishandled the outbreak. China’s embassy responded with a tart post on its website that suggested France had abandoned nursing home residents to die from hunger and disease. Paris then summoned the Chinese ambassador, one of an aggressive group of propagandists known as “Wolf Warrior” diplomats, for a dressing-down. Beijing pushed back, warning France that it risked damaging ties unless it canceled a contract to supply arms to Taiwan, which China considers a renegade province. Never mind that the contract…

6 Min.
can anybody beat health costs?

When Amazon, Berkshire Hathaway, and JPMorgan Chase announced the formation of Haven Healthcare in January 2018 to stem the rise of employer healthcare spending, the world expected big results. The mere prospect of Jeff Bezos, Warren Buffett, and Jamie Dimon joining forces so worried investors that the shares of established health insurers and pharmacy benefits managers tumbled on the news. A little more than two years later, those concerns feel like a distant memory. Rather than disrupting health care, Haven finds itself in disarray, with its top two executives departing in the past year and the venture giving few clues as to how it’s going to slow the upward march of health costs in America. On May 13, Chief Executive Officer Atul Gawande, a surgeon, Harvard professor, and high-profile expert in…

4 Min.
a cold summer for beer

On a typical Friday evening in May, the White Horse pub in London’s Brixton neighborhood might go through 20 or more kegs of lagers and ales as hundreds of revelers stand four and five deep at the bar and spill out onto the terrace into the wee hours. But with London in lockdown, the pub has been shuttered since March 20, when owner Matt Ward—knowing he had to empty the taps—offered happy-hour discounts and at the end of the evening started pouring pints for free. And he was one of the lucky ones: Some pub owners who couldn’t sell their beer had to dump it down the drain. Ward now worries that when he reopens this summer, social distancing guidelines will force him to cut occupancy by about 90%, to…