Donald Trump outlines his vision for restarting the US economy, Ursula von der Leyen offers “heartfelt apology” to Italy and amazing art projects. Delano’s breakfast briefing for Friday. Virus shutdown shrinks Chinese economy China’s first quarter GDP shrank by 6.8% compared to the previous year, according to official figures released on Friday. It was the first time China’s economy contracted during the January-March period since official statistics started in 1992. The Chinese economy, the...

With much of Luxembourg teleworking as part of the covid-19 clampdown, Delano is speaking with our readers about their telecommuting workspace and how they are making the virtual office environment work for them. Susanne Schartz, chief operating officer at Seqvoia, a fintech service provider in the asset management sector, shared her home office with Delano on Friday. AG: Prior to the covid-19 restrictions, did you already telecommute and, if so, how often? SS: Personally, I am not a fan of...

La Provençale, one of Luxembourg’s largest food wholesalers, has disputed a report that it artificially rose prices to take advantage of the covid-19 crisis. The food distributor said panic buying and supply problems, not price gouging, accounted for recent cost increases, and the firm itself is taking a major financial hit. In a statement released on Saturday, La Provençale said the supply of fruit and vegetables had been limited across Europe by a shortage of agricultural workers, increased...

What impact will the covid-19 outbreak have on Luxembourg’s economy? Statec, the national statistics bureau, has essentially said it is too soon to tell at the moment, but that its expectations were “sharply” lower than in the beginning of the year. In a report issued on Tuesday, Statec warned of several potential drags on Luxembourg’s economy, including virus-induced slowdowns among the country’s major trading partners, a notably larger government balance sheet and softness in the financial...

The government said its effort to support Luxembourg’s economy during the covid-19 crisis tallied up to nearly €9bn, or roughly 15% of the country’s GDP. Ministers outlined several forms of grants, guarantees and other financial measures, and laid on a bit of moral pressure, during a press conference on Wednesday evening. The €8.8bn price tag included previously announced moves--such as exceptional family leave and delays in tax payments and social security charges--as well as new subsidies...