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The Large Format Printers Market will grow by USD 325.65 mn during 2020-2024
(Bloomberg) -- European Central Bank policy maker Francois Villeroy de Galhau has rejected suggestions that the institution should consider writing off the public debt it bought during the pandemic, saying to do so would backfire.“To consider debt cancellation would be a very dangerous path,” the Bank of France governor told Ouest France newspaper in an interview. “When the euro was introduced, France, like the other states, undertook by Treaty to always reimburse the central bank. It is an absolutely essential pact of confidence.”Villeroy’s comments were published after Italian Prime Minister Giuseppe Conte’s top adviser said the ECB could cancel the sovereign bonds bought under its pandemic program or hold them in perpetuity to help the euro zone recover.Governments have built up huge debt burdens to save companies and jobs during the pandemic, and working out how to reduce them without harming the economy is set to a key challenge after the crisis.Italian cabinet undersecretary Riccardo Fraccaro told Bloomberg on Wednesday that the ECB should support nations in their recovery and that could include “canceling sovereign bonds bought during the pandemic or perpetually extending their maturity.”Read more: Top Aide to Italy’s Conte Wants ECB to Cancel Pandemic DebtECB President Christine Lagarde has rebuffed such proposals before, noting that it would be illegal under European Union law. French Finance Minister Bruno Le Maire, standing alongside his Italian counterpart Roberto Gualtieri at a press conference in Rome on Thursday, said “a debt is paid back, that is the principle of debt.”ECB Executive Board member Fabio Panetta hit a similar note, telling Portuguese newspaper Expresso that canceling debt “would contravene the Treaties.”“We must remember that all debt is credit,” said Panetta, who is from Italy. “If we cancel a debt, we cancel the corresponding credit and this could have broader, destabilizing consequences. Only growth can protect us from debt.”Still, the idea of canceling public debt held by the ECB is gaining traction among leftist parties in France. Jean-Luc Melenchon, a perennial presidential candidate who recently said he would run again in 2022, submitted a proposal to the French parliament in June to transform debts held on the central bank’s balance sheet into perpetual debt.Arnaud Montebourg, a minister Macron replaced in Socialist President Francois Hollande’s government, has also said the ECB could cancel debt.“My proposition is a concerted cancellation of all the Covid debts of euro are nations and a massive purchase by the ECB that would ruin nobody,” Montebourg said on Europe 1 radio on Sunday.Montebourg also ran for president in 2017, but was eliminated in the Socialist primaries and had since abandoned politics to start businesses including one selling French-made honey.(Updates with Panetta starting in sevent paragraph.)For 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.
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Numbers in parentheses refers to outcomes during the corresponding period of the previous year.
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it plans to release its unaudited financial results for the third quarter ended September 30, 2020 before the open of U.S. markets on Monday, December 7, 2020.
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In a supermarket in downtown Beijing, refrigerator shelves normally filled with steak from around the world sit empty as tougher testing for the novel coronavirus creates supply bottlenecks and raises prices for importers. China began testing batches of imported chilled and frozen meat and seafood for the coronavirus in June, but significantly ramped up its inspections early this month after port workers in several cities tested positive for COVID-19, the disease caused by the virus. The new measures, which include testing much more product than before and additional disinfection, are raising costs for importers while adding time and layers of red-tape in an industry used to working at speed to guarantee freshness.
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(Bloomberg) -- Stocks are ending the week in a cautious fashion as investors assess valuations following a rapid rise in equities this month and the enduring pandemic in parts of Europe and the U.S. Oil retreated amid rising tensions within OPEC+ members.Shares underperformed in Australia but climbed in China, as the MSCI Asia Pacific Index remained on course for a 12% November surge. S&P 500 contracts edged higher, European futures dipped and Treasuries advanced.In China, data showed profits at industrial enterprises surged at the fastest pace in a single month in almost nine years in October, a further sign the country’s economic recovery is gathering pace.Market volumes may be lower than average on Friday with reduced trading hours for U.S. stocks and bonds. Bitcoin steadied after sliding almost 10% on Thursday. The dollar ticked lower and the yen outperformed.Even with three potentially successful vaccines on the table, sentiment remains fragile as the virus toll continues to rise in Europe and the U.S., leading German Chancellor Angela Merkel to call on Europe’s ski resorts to close this winter. AstraZeneca Plc is likely to conduct a further global trial of its vaccine after current studies raised questions, CEO Pascal Soriot said in an interview. The task of vaccinating the world’s population is rife with logistical problems, all while the virus gains ground and economic recoveries wobble.“Vaccine optimism continues to stir momentum going into December that could confront a slowing economy and liquidity difficulties,” said Ben Emons, managing director for global macro strategy at Medley Global Advisors. “Yet, the expectation of a full reopening of the global economy remains firmly priced.”Political clarity has also driven risk assets this month, as President-elect Joe Biden continues his transition to power. President Donald Trump said he’ll relinquish power if the Electoral College affirms Biden’s win, but he signaled he may never formally concede defeat, and may skip the Democrat’s inauguration.Global stocks remain on track for the best month on record, up 13%, and that’s lifted valuations to near the highest in about 20 years.Here are some key events coming up:U.S. stock market closes at 1 p.m. on Friday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.Here are the main moves in markets:StocksS&P 500 futures rose 0.1% as of 7:05 a.m. in London.Japan’s Topix index added 0.5%.Hong Kong’s Hang Seng rose 0.6%.Shanghai Composite advanced 1.1%.South Korea’s Kospi index rose 0.3%.Australia’s S&P/ASX 200 Index declined 0.5%.Euro Stoxx 50 futures slipped 0.1%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.1%.The euro rose 0.1% to $1.1926.The offshore yuan dipped 0.1% to 6.5762 per dollar.The yen was at 104.01 per dollar, up 0.2%.BondsThe yield on 10-year Treasuries fell to 0.86%.Australia’s 10-year yield dipped to 0.90%.CommoditiesWest Texas Intermediate crude decreased 1.6% to $44.97 a barrel.Gold dipped 0.4% to $1,808.80 an ounce.For 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.
SYSPRO has today announced new research, which reveals that the role of CFO 4.0 within the manufacturing sector will be crucial as the industry shifts towards increased digital transformation in the 'new normal'. The study, which was conducted in October 2020 and led by SYSPRO, assessed the sentiment amongst senior level Chief Financial Officers within manufacturing sectors across the US, Canada, Africa and Asia Pacific (including Australia).
The EQT Infrastructure V fund ("EQT Infrastructure") and Proximus, Belgium's largest telecom operator, are pleased to announce the signing of a partnership agreement. As part of this agreement, the two parties will form a new joint venture (JV) that will design, build and maintain a fiber-to-the-home (FTTH) network in Flanders. EQT Infrastructure will initially own 50.1 percent of the JV and Proximus will hold 49.9 percent.
With Covid cases rising and uncertainty over government support, employers planned 51,000 job cuts
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Asian stock markets were mixed Friday as questions about the effectiveness of one possible coronavirus vaccine weighed on investor optimism.
(Bloomberg) -- AstraZeneca Plc’s Covid-19 vaccine looks like it’s headed for an additional global trial as the drugmaker tries to clear up uncertainty and confusion surrounding favorable results in its current study. Tokyo posted its highest one-day number of coronavirus infections to date, with 570 cases recorded, one day before a request for bars and restaurants to close early comes into effect.New infections in New York reached a seven-month high, while hospitalizations rose to their highest level since June. In Europe, the total number of cases in Germany topped 1 million, and the number of patients in intensive care rose to record levels.Elsewhere, London will avoid the toughest coronavirus restrictions when England’s partial lockdown ends next week, the number of severely ill French patients in intensive care fell to the lowest level in more than three weeks. Argentines mourning the death of soccer icon Diego Maradona ignored virus restrictions.Key Developments:Global Tracker: Cases near 61 million; deaths top 1.4 millionHow Covid-19 Has Turned the Spotlight Back on Obesity: QuickTakeWorkers Stick to Office During U.K.’s Second Lockdowns: ChartBiden warns of ‘long, hard winter’ for virus in somber addressLondon avoids toughest curbs as Tories protestSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on coronavirus cases and deaths.Bulgaria Death Rate Rise to Highest in Europe (3:05 p.m. HK)Bulgaria surpassed the Czech Republic and Belgium to become the EU country with the highest number of deaths per 100,000 people over the past 14 days, according to data by the European Center for Disease Prevention and Control.The Balkan country’s Prime Minister Boyko Borissov, who recovered from the virus two weeks ago, had repeatedly rejected a lockdown until this week. The government ordered a three-week partial closing starting Friday night -- schools, restaurants, gyms and shopping centers will be closed, while private events are limited to 15 people.Tokyo Posts Record Day of Cases (2:30 p.m. HK)Tokyo posted its highest one-day number of coronavirus infections to date, with 570 cases recorded, on the final day before a request for bars and restaurants to close early comes into effect on Saturday.Some of the increase is likely due to a three-day weekend through Monday, which typically delays testing and recording of cases. The seven-day average of cases stands at 411, still lower than earlier in the week. The city also reported the most tests ever conducted in a single day, at almost 10,000.Severe Covid-19 cases in the capital, which the local government is tracking closely as its yardstick for requesting restrictions on businesses, rose to 61 from 60 the day before.Vaccine Delays Undermine Indonesia’s Path to Immunity (1 p.m. HK)Indonesia seeks to counter the pandemic with vaccines. Now, as the coronavirus spreads across its vast archipelago, pressure is building to get them to 270 million people living on 17,000 islands.India’s Zydus Plans Launch of Vaccine by March (11:05 a.m. HK)Zydus Cadila’s Covid-19 vaccine is likely to enter phase III trials next month and a launch is expected by March if things go according to the plan, The Economic Times reported.South Korea to Decide on Social Distancing Rules Soon (11 a.m. HK)South Korea will decide soon whether further tightening of social distancing rules is needed as the nation reported more than 500 daily cases for second day, a health ministry official said.Debate Erupts Over Japan Travel Campaign (10 a.m. HK)As the coronavirus resurges in Japan, politicians and experts are growing more divided on the impact that a subsidy program encouraging people to travel is having on the spread of Covid-19.The popular “Go To Travel” campaign, which discounts trips to boost regions hit hardest by a lack of tourists, is one of the government’s most prized projects for spurring the economy, and has been heavily backed by Prime Minister Yoshihide Suga.U.K. Moves to Get Vaccine Approved Before EU (8:03 a.m. HK)Health Secretary Matt Hancock asked the U.K. medical regulator to potentially bypass its European Union counterpart and approve the supply of AstraZeneca Plc’s Covid vaccine to speed its deployment.AstraZeneca Eyes Extra Global Vaccine Trial (8:02 a.m. HK)AstraZeneca Plc’s Covid-19 vaccine looks like it’s headed for an additional global trial as the drugmaker tries to clear up uncertainty and confusion surrounding favorable results in its current study.The company wants the new test to confirm the 90% efficacy rate that the shot showed in a portion of an existing trial, Chief Executive Officer Pascal Soriot said. It’s favoring that option rather than adding an arm to a separate study that’s already underway in the U.S.California’s Positive-Test Rate Hits 6.1% (6:15 p.m. NY)California reported 14,640 new cases on Thursday, bringing the total for the state to 1.2 million, behind only Texas in the U.S. It also reported 104 new deaths, boosting the number of fatalities to 18,979.The Golden State has raised concerns about the recent surge in cases. Its positive-test rate is now 6.1%, hovering at the highest level in three months. The number of available ICU beds also is near the lowest in four months as more patients are hospitalized.Australia’s Longest Lockdown Pays Off (4:20 p.m. NY)The state at the center of Australia’s worst coronavirus outbreak has gone 28 days with no new cases of the virus, an enviable record as the U.S. and many European countries grapple with surging infections or renewed lockdowns.One of the world’s strictest and longest stay-at-home orders enabled Victoria to crush community transmission after a daily peak of about 700 cases in early August. The success means Australia will be among a handful of western nations that can look forward to Christmas with limited restrictions on family gatherings and what authorities are calling a Covid-normal summer.Maradona Farewell Turns Chaotic, Upending Restrictions (3:23 p.m. NY)Hundreds of thousands of Argentines took to the streets of Buenos Aires to mourn Wednesday’s death of soccer icon Diego Maradona, upending the nation’s strict Covid restrictions.Pent-up emotions after eight months of curbs spilled over as people streamed into the palace known as Casa Rosada and police clashed with crowds in and around the Plaza de Mayo.France’s Covid ICU Patients Fall to Lowest in 3 Weeks (1:25 p.m. NY)France’s hospitalizations and virus patients in intensive care continued to fall from their Nov. 16 peak on Thursday, with the number of severely ill patients in ICU at the lowest in more than three weeks, dropping 130 to 4,018. Health authorities reported 13,563 new confirmed cases, with the seven-day average falling to 13,910, the lowest since early October.France is on track for new infections to drop to an average of 5,000 a day in the second week of December, the target set by the government as one of the conditions for lifting lockdown measures, Health Minister Olivier Veran said.Germany Surpasses 1 Million Covid Cases (1:00 p.m. NY)The total number of coronavirus cases in Germany topped 1 million for the first time Thursday, one day after the government extended a partial shutdown until just before Christmas.Europe’s biggest economy passed the grim milestone around 10 months after the country reported its first infections. Cases have tripled since the start of October, causing the number of patients in intensive care to climb to record levels.Italy’s Intensive-Care Numbers Fall (12:21 p.m. NY)The number of patients in Italy’s intensive-care units fell to 3,846, the first decline in seven weeks, and new infections dropped 20% from a week ago, adding to signs that the virus is spreading more slowly in the country.New York’s New Cases Hit Seven-Month High (10:45 a.m. NY)Numbers in New York show no sign of letting up. Hospitalizations in the state topped 3,000 to their highest level since June 1, while new infections hit 6,933, the highest tally for seven months.Once-Relaxed Croatia Tightens Curbs (9:20 a.m. NY)Croatia introduced new measures to fight infections, which hit a record of 4,009 in the last 24 hours. The Balkan state, which had a relatively relaxed regime in European terms, plans to close restaurants, bars and gyms, limit public gatherings to a maximum of 25 people and make masks mandatory in all public spaces.Johnson Ends England’s Lockdown; Regions Face Curbs (7:15 a.m. NY)Prime Minister Boris Johnson confirmed England’s national lockdown will end next week, to be replaced by a tougher three-tier system of regional restrictions.London is in the 57% of the country placed into tier 2, avoiding the most severe constraints: Pubs, restaurants and bars there can open for business, but alcohol can be served only as part of a meal. Another 41%, including Birmingham and Manchester, will be in the highest tier 3, so pubs and restaurants there must close except for takeaway. Households will not be allowed to mix indoors in either tier.France to Allow Travel Abroad From Dec. 15 (6:45 a.m. NY)French PM Jean Castex said it will be possible to travel abroad from Dec. 15, when the government plans to lift its latest lockdown. Travelers must check the health situation in the destination country ahead of travel, Castex said on Thursday. Ski resorts will be open over holiday period but ski lifts will remain closed.Iran Cases Hit Record Again (6:40 a.m. NY)Iran reported a record 13,961 new virus cases on Thursday, setting a record for the third straight day. Total cases stand at 908,346. The Health Ministry also announced 482 new deaths. In total, 46,689 people have died from the virus in Iran.Swedish Faith in Covid Strategy Plunges (6:20 a.m. NY)Swedish confidence in the nation’s strategy to fight the coronavirus pandemic has slumped. A poll published on Thursday showed that 82% of Swedes are either “somewhat” or “very worried” as to whether their health-care system can meet the challenge facing it.Confidence in the authorities’ ability to fight the virus sank to 42% of those polled from 55% in October. Meanwhile, 44% of Swedes fear authorities aren’t doing enough to fight the virus, compared with 31% last month.For 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.
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German consumers remain gloomy ahead of the traditionally big-spending Christmas season and a temporary reduction in sales tax worth up to 20 billion euros has failed to get them into shops or online -- even when companies have passed it on. The six-month cut in value-added tax from 19% to 16% was the centrepiece of a 130 billion euro ($155 billion) stimulus package launched by Finance Minister Olaf Scholz in June to drag Europe's biggest economy out of a pandemic-induced slump. But households remain focused on savings while many firms have used the VAT relief to shore up their battered margins rather than lowering retail prices, data and interviews show.
North Korean leader Kim Jong Un has ordered at least two people executed, banned fishing at sea and locked down capital Pyongyang as part of frantic efforts to guard against the coronavirus and its economic damage, South Korea’s spy agency told lawmakers Friday. Kim's government also ordered diplomats overseas to refrain from any acts that could provoke the United States as it's worried about President-elect Joe Biden’s possible new approach on North Korea, lawmakers told reporters after attending a private briefing by the National Intelligence Service. One of the lawmakers, Ha Tae-keung, cited the NIS as saying Kim is displaying “an excessive anger” and taking “irrational measures” over the pandemic and its economic impact.