September 23, 2020 Biz in 60

Germany approves 2021 budget with massive borrowi…

An episode of the Business in 60 Seconds podcast, hosted by TRT World, titled "September 23, 2020 Biz in 60" was published on September 23, 2020 and runs 1 minutes.

September 23, 2020 ·1m · Business in 60 Seconds

Summary

Germany approves 2021 budget with massive borrowing The German cabinet has approved a budget for 2021 that further suspends a law that prohibits taking on new debt. Europe's biggest economy is planning to borrow another 112-billion- dollars to finance massive stimulus measures during the pandemic. Meanwhile business activity in the eurozone fell far worse than expected in September, amid a rise in coronavirus infections. Unions at Suez file application to block Veolia's $3.5B bid Unions at French water and waste treatment firm, Suez, have filed an application to block rival, Veolia's, 3-and-a- half billion dollar takeover bid. The legal action comes amid fears the deal will lead to widespread job losses. Last month, Veolia offered to buy a nearly 30-percent stake in Suez to help fend-off rising competition in the sector from Chinese firms. Nike returns to profit as COVID-19 restrictions loosen Nike returned to profit in its first quarter as restrictions to curb the spread of COVID-19 were eased. Net profit rose to just over one-and- a-half billion dollars in the June to August period, versus a loss of 790-million- dollars in the previous quarter. Shares in the world's largest sportswear maker jumped as much as 13-percent after the results.

Episode Description