The Walt Disney Company reports it is entering a US$5 billion unsecured credit agreement, possibly to make up for shortfalls in its theme park division. Citibank, N.A. is the main broker of the deal. (Reuters)
According to the United States Navy, a Russian SU-35 fighter jet intercepts a U.S. Navy P-8A Poseidon, anti-submarine and anti-surface warfare aircraft, flying over the Mediterranean Sea. (Business Insider)
The China Securities Regulatory Commission has approved a transaction in which Switzerland's Credit Suisse will take a majority interest in a China securities firm. Credit Suisse will thus be the first foreign bank to own a majority of such a company since the easing of rules about foreign ownership in 2018. (Reuters)
COVID-19 pandemic COVID-19 pandemic in North America COVID-19 pandemic in the United States COVID-19 pandemic in New York New York Governor Andrew Cuomo announces that the state will begin testing residents for COVID-19 antibodies as the state plans to reopen the economy. (Politico) COVID-19 pandemic in California, Impact of the COVID-19 pandemic on prisons California reports the first prison inmate death from complications related to COVID-19. (Los Angeles Times)
COVID-19 pandemic in New York New York Governor Andrew Cuomo announces that the state will begin testing residents for COVID-19 antibodies as the state plans to reopen the economy. (Politico)
COVID-19 pandemic in the United States World oil market chronology from 2003 U.S. oil prices for May contract settle at an all-time low, finishing down over 300% to −$37.63 per barrel. (Market Watch) Impact of the COVID-19 pandemic on aviation United Airlines reports a $2.1 billion loss in the first quarter of this year, blaming restrictions on the aviation industry due to the coronavirus pandemic. (CNBC)
World oil market chronology from 2003 U.S. oil prices for May contract settle at an all-time low, finishing down over 300% to −$37.63 per barrel. (Market Watch)
COVID-19 pandemic in the United States; Unemployment in the United States Over the last week, 4.4 million Americans filed for unemployment benefits. Since mid-March, 26.4 million have filed, which is more than 15 percent of the workforce. (BBC News)
Southern Transitional Council (STC) forces say they are in full control of all sovereign state institutions in the port city of Aden, after capturing the Yemen Oil and Gas Corporation refinery, Aden International Airport, the central bank headquarters and the seaport. Yesterday, the STC declared self-rule in southern Yemen. (Xinhuanet)
Economic impact of the COVID-19 pandemic, Coronavirus recession Offshore drilling contractor Diamond Offshore Drilling files for bankruptcy due to the oil price collapse, following the reduction in oil demand during the global coronavirus pandemic. (The Wall Street Journal) Impact of the COVID-19 pandemic on aviation Delta Air Lines announces it is suspending flights to several small-hub airports after losing $534 million in the first quarter of this year due to aviation restrictions caused by the coronavirus pandemic. (MLive.com)
Offshore drilling contractor Diamond Offshore Drilling files for bankruptcy due to the oil price collapse, following the reduction in oil demand during the global coronavirus pandemic. (The Wall Street Journal)
2020 Afrin bombing A suicide bombing, using a fuel tanker, detonates at a busy market killing at least 53 civilians, including 11 children, in Turkish-occupied Afrin, Syria. The Turkish defense ministry accused the People's Protection Units (YPG) of "carrying out the attack." (Rudaw) (Al Jazeera)
A suicide bombing, using a fuel tanker, detonates at a busy market killing at least 53 civilians, including 11 children, in Turkish-occupied Afrin, Syria. The Turkish defense ministry accused the People's Protection Units (YPG) of "carrying out the attack." (Rudaw) (Al Jazeera)
2019–2020 Lebanese protests Protests erupt in major cities across Lebanon for the second day over the country's continuing economic problems. Banks and vehicles are set on fire, and clashes between the protestors and the army in Tripoli leave around 40 soldiers injured. (Reuters)
Protests erupt in major cities across Lebanon for the second day over the country's continuing economic problems. Banks and vehicles are set on fire, and clashes between the protestors and the army in Tripoli leave around 40 soldiers injured. (Reuters)
Economic impact of the COVID-19 pandemic, Coronavirus recession The U.S. unemployment rate hits 14.7%, the highest since the Great Depression, mainly due to job losses from the COVID-19 pandemic. (The Washington Post)
Colombian airline carrier Avianca files for Chapter 11 bankruptcy protection and liquidates its Peruvian subsidiary as a result of the COVID-19 pandemic. (Financial Times)
Economic impact of the COVID-19 pandemic, Coronavirus recession Colombian airline carrier Avianca files for Chapter 11 bankruptcy protection and liquidates its Peruvian subsidiary as a result of the COVID-19 pandemic. (Financial Times)
COVID-19 pandemic in Malaysia Malaysian authorities detains hundreds of foreign workers in a major raid in areas around the Kuala Lumpur Wholesale Market. It is the second major raid on the country's biggest wholesale wet market by the authorities amid the movement control order. (The Straits Times)
Malaysian authorities detains hundreds of foreign workers in a major raid in areas around the Kuala Lumpur Wholesale Market. It is the second major raid on the country's biggest wholesale wet market by the authorities amid the movement control order. (The Straits Times)
COVID-19 pandemic in New York New York Governor Andrew Cuomo extends the stay-at-home order for New York until June 13. (Business Insider)
Israel–Jordan relations, Trump peace plan, Annexation of the Jordan Valley Jordanian King Abdullah II warns Israel of a "massive conflict" if it annexes parts of the West Bank. (Al Jazeera)
Jordanian King Abdullah II warns Israel of a "massive conflict" if it annexes parts of the West Bank. (Al Jazeera)
The Central Bank of Venezuela launches a legal claim against the Bank of England, to try to force the British bank to release €930m ($1bn; £820m) worth of Venezuelan gold it claims it holds. (BBC News)
United Kingdom–Venezuela relations The Central Bank of Venezuela launches a legal claim against the Bank of England, to try to force the British bank to release €930m ($1bn; £820m) worth of Venezuelan gold it claims it holds. (BBC News)
Three women are killed in a stampede in Colombo, Sri Lanka, during an US$8 cash handout at a businessman's warehouse. (Al Jazeera)
Economic impact of the COVID-19 pandemic, Coronavirus recession Europe's largest coach operator Shearings collapses into administration with 2,460 immediate job losses and thousands of holidays cancelled. (The Guardian) American car rental company Hertz files for Chapter 11 bankruptcy due to accumulating nearly $19 billion in debt. (CBC News)
Impact of the COVID-19 pandemic on aviation, COVID-19 pandemic in Chile, Coronavirus recession LATAM Airlines, the largest air carrier in Latin America, files for Chapter 11 bankruptcy. (Bloomberg)
At least 15 people are killed in northern Burkina Faso after a convoy transporting traders is targeted by an unidentified armed group. Burkina Faso has been fighting Islamist terrorists amid a resurgence of attacks in the Sahel. (Reuters)
Tens of thousands of people, in multiple locations across Hong Kong, defy the ban against gatherings to observe the anniversary, carrying lit candles and chanting democracy slogans. The largest group, in Victoria Park, heard Lee Cheuk-yan, former Chairman of the Hong Kong Alliance in Support of Patriotic Democratic Movements in China, read the Alliance's manifesto and vow to return next year. (South China Morning Post) (International Business Times)
George Floyd protests in the United Kingdom The statue of Edward Colston, a 17th-century slave trader, is pulled down by anti-racism demonstrators and thrown into Bristol Harbour, England. (The Guardian)
List of monuments and memorials removed during the George Floyd protests George Floyd protests in the United Kingdom The statue of Edward Colston, a 17th-century slave trader, is pulled down by anti-racism demonstrators and thrown into Bristol Harbour, England. (The Guardian) George Floyd protests in Richmond, Virginia Black Lives Matter supporters tear down the 128-year-old statue of Confederate General Williams Carter Wickham in Monroe Park in Richmond, Virginia. (The Hill)
The statue of Edward Colston, a 17th-century slave trader, is pulled down by anti-racism demonstrators and thrown into Bristol Harbour, England. (The Guardian)
Multinational energy company BP announces in a conference call that it is cutting 15% of its workforce, which is roughly 10,000 jobs. (Reuters)
Sanrio founder and CEO Shintaro Tsuji, whose company is best known for creating Hello Kitty, announces he will resign on July 1 citing a need to "transform the company to better respond to today's rapidly changing business environment." His grandson Tomokuni Tsuji is expected to replace him. (BBC News)
Beijing closes all schools, locks down several residential estates and imposes a partial travel ban, urging residents not to leave the city, after 27 more COVID-19 cases are confirmed in the city, bringing the total to 106 new cases in the last five days. The new outbreak is linked to the Xinfadi Market. (The Nations)
COVID-19 pandemic in mainland China Beijing closes all schools, locks down several residential estates and imposes a partial travel ban, urging residents not to leave the city, after 27 more COVID-19 cases are confirmed in the city, bringing the total to 106 new cases in the last five days. The new outbreak is linked to the Xinfadi Market. (The Nations)
The Caribbean Community (CARICOM) says "sorry is not enough" from British financial institutions that benefited from the Atlantic slave trade, and demands reparations from the United Kingdom. This comes after the Bank of England apologized for the "inexcusable connections" of some of its past governors and directors to slavery. (Reuters)
China announces its decision to join the United Nations Arms Trade Treaty. (AFP via The Jakarta Post)
Thousands of Palestinians and dozens of foreign diplomats attend a rally in Jericho to oppose Israel's plan to unilaterally annex the Jordan Valley and the settlements in the occupied West Bank. (Al Jazeera)
Japanese manufacturing company Olympus announces it is exiting the camera business after 84 years, stating its financial losses caused by their inability to compete with smartphone cameras was a major factor in the decision. (BBC News)
2020 NFL season The New England Patriots reach an agreement to sign quarterback Cam Newton. He will replace the Patriots' longtime quarterback Tom Brady, who left the team in March. (AP)
The New England Patriots reach an agreement to sign quarterback Cam Newton. He will replace the Patriots' longtime quarterback Tom Brady, who left the team in March. (AP)
Cirque du Soleil files for bankruptcy in Canada and cuts 3,500 jobs. (CNN)
Economic impact of the COVID-19 pandemic, Impact of the COVID-19 pandemic on the arts and cultural heritage Cirque du Soleil files for bankruptcy in Canada and cuts 3,500 jobs. (CNN)
COVID-19 pandemic in California California Governor Gavin Newsom restricts the indoor operations of certain businesses in 19 counties for a minimum of three weeks to stop the spread of COVID-19. (Los Angeles Times)
COVID-19 pandemic in New Mexico New Mexico Governor Michelle Lujan Grisham announces there will be $100 fines for people and businesses that do not wear masks. (The Hill)
New Mexico Governor Michelle Lujan Grisham announces there will be $100 fines for people and businesses that do not wear masks. (The Hill)
Delta Air Lines ends service to 11 airports in an effort to reduce domestic flights by 80% and international flights by 90% due to aviation restrictions caused by the COVID-19 pandemic. (Business Insider)
Impact of the COVID-19 pandemic on airlines Delta Air Lines ends service to 11 airports in an effort to reduce domestic flights by 80% and international flights by 90% due to aviation restrictions caused by the COVID-19 pandemic. (Business Insider)
Enlargement of the eurozone The European Central Bank accepts Bulgaria and Croatia into the European Exchange Rate Mechanism, a mandatory stage for countries that wish to adopt the euro. This is the currency bloc's first major expansion in half a decade. (Reuters)
The European Central Bank accepts Bulgaria and Croatia into the European Exchange Rate Mechanism, a mandatory stage for countries that wish to adopt the euro. This is the currency bloc's first major expansion in half a decade. (Reuters)
COVID-19 pandemic in Michigan Michigan begins tighter restrictions on public face mask usage, including $500 fines for refusal to wear one and the potential loss of business licenses for failure to enforce their usage. (MLive.com)
COVID-19 pandemic in the United States COVID-19 pandemic in California California Governor Gavin Newsom orders further restrictions and prohibitions on indoor activities, building on previous orders. California has seen a sustained rise in COVID-19 cases in recent weeks, resulting in the state pausing and rolling back some reopening plans. (CNBC) COVID-19 pandemic in Michigan Michigan begins tighter restrictions on public face mask usage, including $500 fines for refusal to wear one and the potential loss of business licenses for failure to enforce their usage. (MLive.com)
Michigan begins tighter restrictions on public face mask usage, including $500 fines for refusal to wear one and the potential loss of business licenses for failure to enforce their usage. (MLive.com)
COVID-19 pandemic in New York (state) New York Governor Andrew Cuomo announces that New York is expected to move into phase four of its reopening plan. However, indoor public spaces will remain closed. (MarketWatch)
Economic impact of the COVID-19 pandemic South Korea's economy enters recession after exports plunge to their lowest levels since 1963. (Reuters)
South Korea's economy enters recession after exports plunge to their lowest levels since 1963. (Reuters)
German universal bank Degussa Bank is put up for sale as parent company M. M. Warburg raises funds to pay off fines and debts incurred from its participation in Germany's biggest post-war fraud scheme. The Bank is valued between €200-400 million. (Reuters)
Economic impact of the COVID-19 pandemic, COVID-19 pandemic in Japan The Cabinet Office of Japan plans to declare that its economy has entered a recession after 71 months of growth. (Asahi Shimbun)
Economic impact of the COVID-19 pandemic The price of gold hits a record high of US$1,944 per ounce as uncertainty over the global economy grows due to a resurgence in COVID-19 cases. The previous record was set in 2011 when prices hit US$1,921 per ounce. (CNN)
The price of gold hits a record high of US$1,944 per ounce as uncertainty over the global economy grows due to a resurgence in COVID-19 cases. The previous record was set in 2011 when prices hit US$1,921 per ounce. (CNN)
Cuba loosens some regulations on state-run companies and farmers, and allows for U.S. dollars to be used in internal trade, as the country seeks to revitalize its economy in the midst of both the COVID-19 pandemic in the region and the economic decline of its trading partner Venezuela. (Reuters)
The Central Bank of Brazil announces that it will start producing 200 reais bills starting in August. (G1)
Economic impact of the COVID-19 pandemic in the United States The United States economy suffers its worst quarter since World War II, with the GDP shrinking by an annualized rate of 32.9% in the April–June period. (The Guardian)
The United States economy suffers its worst quarter since World War II, with the GDP shrinking by an annualized rate of 32.9% in the April–June period. (The Guardian)
COVID-19 pandemic in Spain The Spanish economy suffers a historically large fall in the second quarter of 18.5% of GDP and enters in recession, making Spain the Eurozone country most economically devastated by the pandemic. (El Mundo)
Economic impact of the COVID-19 pandemic, COVID-19 recession COVID-19 pandemic in Spain The Spanish economy suffers a historically large fall in the second quarter of 18.5% of GDP and enters in recession, making Spain the Eurozone country most economically devastated by the pandemic. (El Mundo) Eurozone suffers an unprecedented 12.1% drop in GDP and enters in technical recession. (Euronews)
Eurozone suffers an unprecedented 12.1% drop in GDP and enters in technical recession. (Euronews)
The Spanish economy suffers a historically large fall in the second quarter of 18.5% of GDP and enters in recession, making Spain the Eurozone country most economically devastated by the pandemic. (El Mundo)
COVID-19 pandemic in Australia Victorian premier Daniel Andrews orders the temporary closure of many businesses and retail stores in Melbourne under stage four lockdown restrictions for six weeks to contain the spread of COVID-19 in Victoria. Only essential services such as supermarkets, food stores, liquor shops, petrol stations, pharmacies, convenience stores, and other essentials can remain open. (9 News)
Victorian premier Daniel Andrews orders the temporary closure of many businesses and retail stores in Melbourne under stage four lockdown restrictions for six weeks to contain the spread of COVID-19 in Victoria. Only essential services such as supermarkets, food stores, liquor shops, petrol stations, pharmacies, convenience stores, and other essentials can remain open. (9 News)
Impact of the COVID-19 pandemic on airlines UK-based airline Virgin Atlantic declares itself bankrupt and files for Chapter 15 bankruptcy protection in New York amid a decline in international flights during the COVID-19 pandemic. (The Guardian)
UK-based airline Virgin Atlantic declares itself bankrupt and files for Chapter 15 bankruptcy protection in New York amid a decline in international flights during the COVID-19 pandemic. (The Guardian)
COVID-19 pandemic in Indonesia The Indonesian economy contracts 5.32% in second quarter of 2020, amidst the COVID-19 pandemic. It is the worst economic contraction in the country since the first quarter of 1999. (Kompas)
