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Bloomberg Businessweek-Europe Edition

Bloomberg Businessweek-Europe Edition March 23, 2020

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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.

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United Kingdom
Bloomberg Finance LP
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50 Edities

in deze editie

3 min.
in brief

To help stem the economic fallout from the pandemic, U.S. Treasury Secretary Steven Mnuchin asked Congress to approve a stimulus package worth $1.3t The measure would include fast loans for small businesses and direct payments to workers. ▷ 30 Global deaths from the virus have exceeded 8,700 with more than 205,000 people infected around the world as of March 16. In Europe, which now has more confirmed cases than China, Italy has been hit especially hard, reporting more than 31,500 infections and more than 3,000 deaths. ▷ 40 Personnel at Nairobi’s Mbagathi Hospital take a visitor’s temperature on March 18. Kenya has confirmed seven cases of Covid-19 so far. African countries have been hit late by the disease; many are taking strict measures to block its spread. Bailing out airlines around the…

1 min.

Ready, Set, Cut! Ten days after taking over as governor of the Bank of England, Andrew Bailey chairs his first monetary meeting on March 26. Like other central banks, the BOE has made emergency rate cuts to ease the impact of the pandemic. Israeli telephone company Cellcom reports earnings on March 23. It’s warned that the coronavirus crisis may hurt access to capital and equipment. U.K. Chancellor Rishi Sunak takes questions from lawmakers in Parliament on March 24. Sunak, who’s been in the job for only a few weeks, recently delivered his first budget. The U.S. reports its weekly crude oil inventories on March 25. Given the slump in air and road travel, the focus will be on refined products such as gasoline. ILLUSTRATION BY AHAOK. FELIPE: GETTY IMAGES. MANNING: ERIC BARADAT/AFP/GETTY…

9 min.
behind the oil war

On March 4, Prince Abdulaziz bin Salman, the 59-year-old Saudi oil minister, was locked down in his suite at the Park Hyatt hotel in Vienna, preparing for what would turn out to be the most important meeting of his life. A veteran negotiator, the prince is skilled in the Byzantine diplomacy and backroom deals that have characterized OPEC since its founding 60 years ago. Few others can bridge the political enmities among oil producers, who often have little in common other than their addiction to petrodollars. It’s a world where a few barrels here or there in a production deal often make all the difference. “How can we work in dividing these things?” Prince Abdulaziz told Bloomberg TV last year. “It is not going to be a science. It’s science, art,…

6 min.
ready or not, colleges go online

Analisa Packham, an economist who studies health and education, would seem ideally suited for teaching in the age of Covid-19. Yet last weekend the 30-year-old assistant professor at Vanderbilt University in Nashville realized she had a lot to learn—about technology. Packham taught herself two popular software programs for videoconferencing, Zoom and Kaltura. She plans to hold office hours via Skype and produce TikTok videos to explain the importance of food stamps in the current economic crisis. She’s already recorded a video lecture for her 41 students, but is far from satisfied with it. “If I was a student, I would not want to watch this,” she says. America has 1.5 million faculty members, and, like Packham, 70% have never taught a virtual course before, according to education technology researcher Bay View Analytics.…

5 min.
now, even masks can’t cross borders

Michael Einhorn’s medical supply company in Brooklyn, N.Y., may run out of masks used to protect against coronavirus in two weeks unless the Chinese manufacturer of his branded protective gear resumes production soon. He’s already rationing supplies. “We’re having to make tough decisions every day on who gets masks and who doesn’t,” says Einhorn, president of Dealmed-Park Surgical, which employs almost 100 people. “Do masks go to the suburban hospital or the 911 responders? It’s a huge responsibility, and we know we’re going to make some mistakes.” Einhorn’s dilemma is playing out on a global stage. With the deadly virus now present in more than 130 countries, companies are unable to match demand for the millions of masks needed by health workers. That’s led governments to jockey for supplies: The U.S. is…

5 min.
the (shaky) plans to narrow the testing gap

When President Donald Trump finally addressed the nation’s dire shortage of testing capabilities for the coronavirus on March 13, he did what many people do when they seek answers: He turned to Google. But Trump’s announcement that the Alphabet Inc. unit would be harnessing 1,700 engineers to build a national website to screen people for symptoms, and if necessary direct them to a nearby testing site, was overly optimistic. Google is rushing to rise to the occasion. Across Silicon Valley, tech companies big and small are stepping up to help in any way they can.Amazon.com Inc. is prioritizing shipments of medical supplies and household staples and plans to hire 100,000 workers to help speed those orders. Facebook, Microsoft, Twitter, YouTube, and others have pledged to work with one another and alongside…