Coronavirus

The African Development Bank has allocated $650 million for a railroad project in Uganda. The article also mentions Uganda's response to the coronavirus outbreak, including restrictions on public transport and travel.

Mercuria has filed a lawsuit against the Baltic Exchange over a shipping benchmark affected by the Hormuz Strait. The article mentions the UK's shift in coronavirus policy and financial-services companies dealing with health-related challenges.

Japan's industrial production fell less than expected in March 2020, but steeper declines are anticipated due to a nationwide state of emergency restricting factory operations and consumer activity to curb the coronavirus. The public is calling for energy-saving measures amid these challenges.

Tailored Brands Inc., parent company of Jos A. Bank and Men's Wearhouse, filed for Chapter 11 bankruptcy protection due to coronavirus-related store shutdowns. The company reduced its workforce by 20%, plans to close 500 stores, and reported a 60% decline in first-quarter sales.

The Baltic Exchange in London is consulting on a benchmark tanker route as global conflicts disrupt shipping rates. Meanwhile, UK authorities have shifted focus from containing the coronavirus to mitigating its worst impacts, affecting financial-services companies.

ANZ reports that volatility is hindering the Asian carry trade despite rising returns. A coronavirus lockdown in Manila is expected to slow economic growth and increase the likelihood of an interest-rate cut in the Philippines.

Boris Johnson attempted to meet the late Queen Elizabeth II while he had coronavirus, according to Robert Hardman's Palace Confidential newsletter. The meeting did not occur as the Queen was unavailable at the time.