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Volkswagen pumps 2 billion euros into China electric vehicle bet, buys stakes in two firms

BEIJING/HONG KONG (Reuters) - Volkswagen AG (VW) ( VOWG_p.DE ) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players, upping its bet on the world’s biggest auto market as international rivals seek to muscle in. FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg, Germany September 9, 2019. REUTERS/Fabian Bimmer. VW said it will ... Full story

What you need to know about the coronavirus right now

(Reuters) - Here’s what you need to know about the coronavirus right now:. FILE PHOTO: An Emergency Medical Technician (EMT) dons personal protective equipment before going into Elmhurst Hospital during the ongoing outbreak of the coronavirus disease (COVID-19) in the Queens borough of New York, U.S., April 20, 2020. REUTERS/Lucas Jackson. Suicide concerns. Health workers in Japan are worried the economic shock caused by the coronavirus ... Full story

German retail sales fall far less than expected in April

FILE PHOTO: A sign with distancing rules is seen in the sport store PUMA, as the spread of the coronavirus disease (COVID-19) continues, in Berlin, Germany, April 25, 2020. REUTERS/Annegret Hilse/File Photo. BERLIN (Reuters) - German retail sales fell at their fastest pace since 2007 in April, data showed on Friday, but the drop was not as steep as expected in a sign of the relative resilience of Europe’s largest economy during the coronavirus ... Full story

Japan's consumer mood higher in May but still 'extremely severe': government

FILE PHOTO: A woman wearing a protective face mask walks past a luxury brand store at a shopping district amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 25, 2020. REUTERS/Kim Kyung-Hoon. TOKYO (Reuters) - Japan’s consumer confidence index rose slightly in May but stayed near a record low as the new coronavirus pandemic took a heavy toll on the economy, a Cabinet Office survey showed on Friday. The survey’s sentiment index ... Full story

Japan finance minister sees fiscal situation worsening as virus hits tax revenue

FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual meetings of the International Monetary Fund and World Bank in Washington, U.S., October 18, 2019. REUTERS/James Lawler Duggan. TOKYO (Reuters) - Japan’s fiscal situation will further deteriorate following the compilation of stimulus budgets as tax revenue will likely fall due to the impact of the coronavirus on economic activity, Finance Minister Taro ... Full story

U.N. delays crucial climate summit for a year, cites pandemic

FILE PHOTO: The logo of the United Nations is seen on the outside of their headquarters in New York, September 15, 2013. REUTERS/Carlo. (Reuters) - The coronavirus pandemic has prompted the United Nations to delay until late 2021 a crucial climate summit that had been scheduled for Britain this year, officials said on Thursday. This year’s meeting, known as the COP26 summit, had been billed as the most important climate change summit since the ... Full story

Go-go bars gone as coronavirus hits Bangkok's sex district

BANGKOK (Reuters) - The black leather party masks that performers May and Som wear for their fetish shows in Bangkok are definitely not the sort to stop the coronavirus. An 18+ sign is seen inside the Patpong museum at the nightlife and sex trade district, during the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand, May 26, 2020. REUTERS/Athit Perawongmetha. Behind closed doors, they practise for the day when health restrictions are ... Full story

Britain needs to start tapering its COVID furlough scheme: minister

Britain's Secretary of State for Environment, Food and Rural Affairs George Eustice speaks during a news conference on the ongoing situation with the coronavirus disease (COVID-19) in London, Britain March 21, 2020. Jonathan Brady/Pool via REUTERS. LONDON (Reuters) - Britain cannot run its COVID-19 jobs protection scheme indefinitely and needs to start tapering it down as people slowly return to work, environment minister George Eustice said on ... Full story

UK to tell employers to help fund coronavirus job safety net

LONDON (Reuters) - British finance minister Rishi Sunak will tell employers on Friday how much they must contribute to the government’s hugely expensive wage subsidy programme from August, a prospect that some firms say will lead to more job losses. FILE PHOTO: Chancellor of the Exchequer Rishi Sunak speaks during a news conference on the ongoing situation with the coronavirus disease (COVID-19) in London, Britain March 17, 2020. Matt ... Full story

JDE Peet's valued at $17.3 billion in espresso IPO

AMSTERDAM (Reuters) - Coffee maker JDE Peet’s JDEP.AS said on Friday its shares were priced at 31.50 euros each in an initial public offering, valuing the firm at 15.6 billion euros ($17.3 billion), as it became one of the few big companies to go public during the coronavirus crisis. FILE PHOTO: A man wearing a face mask walks past a Peet's coffee shop in Washington, U.S., May 19, 2020. REUTERS/Kevin Lamarque. Shares in the world’s No. 2 maker ... Full story