Stay updated with breaking news from Bloomberg Inside. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
U.K. infections continued to rise, posing a dilemma for Prime Minister Boris Johnson ahead of a crunch decision Monday on whether to proceed with the final stage of reopening the economy later this month. Data released Friday showed an estimated 1 in 560 people in England had the virus in the week to June 4, up from 1 in 640 a week earlier and 1 in 1,340 in the week through May 8.
U.S. Secretary of State Antony Blinken pressed his Chinese counterpart in a phone call Friday to allow a new expert-led study into the origins of Covid-19. But China’s top diplomat called theories that the virus leaked from a Wuhan lab an absurd story, according to readouts from both sides.
President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China.
Biden Will Need More Than $52 Billion for Chip Effort Bloomberg 1 hr ago Bloomberg News (Bloomberg) -- President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China. The White House on Tuesday outlined a sweeping plan to secure the conduits for critical products from medicines to chips, responding in part to the growing economic and political sway of its Asia...
IMF Head Sees G-7 Giving Tens of Billions to Vaccine Finance Bloomberg 2 hrs ago (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. International Monetary Fund Managing Director Kristalina Georgieva said she expects the Group of Seven economies to provide “tens of billions” of dollars in financing for vaccinating the world. “My suspicion is that we’ll see this in the tens of billions, not in the couple of billions,” Georgieva said at a GZERO Media online event on Wednesday, referring to the amount that the world’s...