EU stimulus scheme officially endorsed
The European Council has received formal notification that all 27 member states approved the so-called “own resources decision” meaning the European Commission can start borrowing and distributing €750bn under the economic recovery package agreed by EU leaders last year. The first tranche of funds could be borrowed later this month and distributed to member states by the end of July. Sources: AFP, Euractiv and press release. Background: Euronews and Reuters.
OECD says global economy will recover by next year
The Organization for Economic Cooperation and Development said global GDP would grow by 5.8% in 2021 (it had forecast 4.2% in December) and by 4.4% in 2022 (it previously thought 4%). That would more or less return the world’s economy to pre-pandemic levels next year. Sources: AFP, FT, Reuters and RTE.
South Korea exports surged
South Korean exports in May grew that their fastest clip in more than three decades, driven by strong demand for semiconductors and cars. Sources: Bloomberg, Dow Jones and Reuters.
Brexit cut billions off British services exports
Researchers at Aston University in Birmingham concluded that the Brexit vote reduced UK services exports by £113bn between 2016 and 2019. Source: Financial Times.
Brits face 30 June Brexit deadline
UK nationals living in 5 EU countries, including Luxembourg, have until the end of this month to apply for permanent residency. Sources: Express, Guardian and Independent.
“Complete clarity” sought over intelligence accusations
The French president, Emmanuel Macron, and German chancellor, Angela Merkel, said they expected Copenhagen and Washington to provide an explanation about allegations that Denmark and the US spied on European leaders. Sources: AFP, BBC, DPA and DW.
China loosens family planning policy
Beijing will allow couples to have three children after census figures showed its population was rapidly ageing. China lifted the ceiling for most families from one to two children in 2016. Sources: BBC, Guardian, NPR and SCMP.
HK to exempt top financial executives from quarantine
Hong Kong’s government said a limited number of senior leaders at financial firms, who are fully vaccinated, would be exempt from the region’s 21-day covid quarantine. Sources: BBC, CNBC, CNN and FT.
Covid passport could end intra-EU quarantines next month
EU member states can start issuing standardised digital covid certificates today, which the European Commission wants to be honoured across the bloc by 1 July. Sources: AFP, Euractiv and Guardian.
WHO renames variants
The World Health Organization will now indicate covid-19 strains using Greek letters instead of the place names where they were first detected. The British variant is now Alpha, the South African strain is now Beta and the Indian line was rebranded Delta. Sources: AFP, BBC, DPA and Reuters.
Latest Luxembourg covid-19 update
Zero Luxembourg residents tested positive for covid-19 on Sunday, the first day without any new cases since 21 June 2020. There were 27 covid-19 patients in hospital on 30 May (compared to 34 on 24 May), including 8 in intensive care (compared to 17). The effective reproduction rate was 0.82, below the target threshold of 1.00 (compared to 0.80). One person died due to the coronavirus on Sunday, bringing the national total to 815. A cumulative 345,574 vaccine jabs have been administered, including 129,132 people who have receive all required doses. Sources: health ministry, Delano and Paperjam.
Qantas to offer free flights for covid jab
Qantas will provide discounts, frequent flier points and free flights to fully vaccinated passengers, as jab takeup in Australia stalls. Sources: Bloomberg, Fox Business, FT and 9News.
Ryanair flight diverted to Berlin after bomb threat
A Ryanair flight from Dublin to Krakow made an emergency landing in Germany following a “potential security threat”. German police searched the plane and baggage contents before passengers continued on to Poland. Sources: AFP, AP, DW and RTE.
Nestle document says majority of its foods are unhealthy
An internal report produced by the Swiss food and drink giant Nestle, seen by the FT, said roughly two-thirds of its products did not meet the “recognised definition of health”. A spokesman said the firm was “working on a company-wide project to update its pioneering nutrition and health strategy”. Sources: AFP, FT and Reuters.
Cyberattack disrupts meat processor
The world’s largest meatpacker was hit by a cyberattack in Australia and North America, causing JBS to shut down some of its operations. Sources: Bloomberg, CNBC and Reuters.
Bram changes hands
The Luxembourg retail brand Bram has reportedly been sold by Konen to Breuninger (both are German outfits). Sources: Delano and Paperjam.
Man found dead inside dinosaur sculpture
The body of a 39-year-old man was found inside a giant papier-mâché dinosaur near Barcelona. He apparently had been trying to retrieve his mobile phone. Sources: The Guardian and The Register.
Users given choice to show or hide Facebook likes
Facebook and Instagram users can now hide like counts on their own posts and from posts in their feed. Sources: CNN and Recode.
Osaka pulls out of French Open
Tennis champion Naomi Osaka withdrew from the French Open after organisers fined her for not participating in press conferences. Osaka said that she has “suffered long bouts of depression since the US Open in 2018” and gets “huge waves of anxiety before I speak to the world’s media.” Sources: AP, BBC, DW and Guardian.
Brazil to host Copa América
The South American Football Confederation said it would move the Copa América tournament, set to start on 13 June, from Argentina to Brazil, due to the pandemic. But Brazilian officials said the decision was not final. Sources: BBC, CNN, DW and NPR.
Morse code training helps couple break out of care home
An elderly couple (who have dementia and Alzheimer’s disease) escaped from a secured care facility in the US state of Tennessee for about 30 minutes after the man used his military Morse code experience to decipher the electronic door lock code. Sources: Popular Mechanics and Tennessean.
Today’s breakfast briefing was written by Aaron Grunwald