Brussels plans to call for power to borrow €750bn for virus recovery


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US banks won’t resume their share buyback programmes until executives can see “the white of the eyes of the recovery” and even then payouts “won’t be the size you saw before”, JPMorgan boss Jamie Dimon warned on Tuesday.

Sales of newly built homes in the US unexpectedly rebounded in April, suggesting the housing market may be stabilising as low mortgage rates entice home buyers amid the pandemic.

Airlines have received about $123bn in financial aid from governments, but that support is unevenly spread around the world, according to research by Iata, the global airline trade group.

President Emmanuel Macron on Tuesday unveiled an €8bn plan to revive France’s motor industry, crippled by loss of sales and production during the coronavirus pandemic and the lockdowns aimed at slowing the spread of the disease.

Macy’s is turning to its property portfolio to raise cash in the coronavirus crisis, pledging several of its department stores and other properties as collateral in a $1.1bn bond deal.

The New York Stock Exchange has begun reopening its trading floor at 11 Wall Street after a two-month shutdown.

McLaren will cut 1,200 jobs in a major restructuring after coronavirus shut down the company’s showrooms and prevented it from racing.

Greece will reopen road borders on June 15 with neighbouring countries Albania, North Macedonia, Bulgaria and Turkey.

The majority of British people believe Dominic Cummings, the senior aide to Prime Minister Boris Johnson who drove his family more than 260 miles from London to Durham when the UK was in strict lockdown, has broken the rules and should resign, according to a poll.

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