America’s Treasury Department said it would auction a new 20-year bond on May 20th. It expects to borrow almost $3trn of debt in the second quarter, a record that far exceeds its quarterly borrowing requirements during the financial crisis of 2007-09.
China recorded a surprising increase in exports, which grew by 3.5% in April compared with the same month in 2019, the first rise this year.
Marathon, America’s biggest oil refiner, posted a $9.2bn quarterly loss, because of the pandemic and price “tensions”. Oil markets remained choppy. The price of Brent crude rose above $30 a barrel for the first time in weeks.
In the most aggressive action it has taken so far to enforce regulations in the state that bolster the rights of workers in the gig economy, California filed a lawsuit against Uber and Lyft for misclassifying their drivers as independent contractors. Uber, which is helping its drivers find extra work at 7-Eleven and other companies during the crisis, said it would contest the suit in court.
Lee Jae-yong, the de facto head of Samsung Group, apologised for the various corruption scandals that have beset his company. In a remarkable statement, Mr Lee, who was convicted of bribery in 2017, pledged that he would be the last person from his family to lead the conglomerate. He also overturned a decades-long policy at Samsung that stops workers joining a union.
三星集团(Samsung Group)的实际掌权人李在镕(Lee Jae-yong)为困扰该公司的各种腐败丑闻道歉。在一个不同寻常的声明中，在2017年被判犯有行贿罪的掌权人承诺，他将是家族中最后一个领导集团的人。他还推翻了三星长达数十年的禁止工人加入工会的政策。
Telefónica, Spain’s biggest telecoms company, announced the merger of its O2 mobile brand in Britain with Virgin Media, a broadband and wireless provider that is owned by Liberty Global. The 31bn pounds ($38bn) deal creates a behemoth in Britain’s telecommunications industry.
西班牙最大的电信公司Telefonica宣布其旗下的O2移动品牌在英国与Liberty Global旗下的宽带和无线提供商Virgin Media合并。这笔价值310亿英镑(380亿美元)的交易将诞生出一个英国电信行业的巨头。
Peloton, which sells expensive internet-connected bikes, recorded a surge in sales in the latest quarter, as it doubled the number of subscribers to its workouts. With many people forced to exercise at home during lockdowns, the company is expanding its customer base beyond svelte hipsters to suburban mums and dads.
Tesla’s share price recovered from the drubbing it took after Elon Musk tweeted that it was too high, which wiped $15bn off the company’s market value. Soon after, Mr Musk, a critic of lockdowns, tweeted another abstract thought: “Rage, rage against the dying of the light of consciousness.”