© Reuters. FILE PHOTO: People wear protective face masks, following an outbreak of the novel coronavirus disease (COVID-19), at Lujiazui financial district in Shanghai BEIJING (Reuters) – China’s banks should brace for a big jump in bad loans due to coronavirus-induced economic pain, the financial regulator said on Saturday, noting the deterioration of asset quality […]
Read More© Reuters. FILE PHOTO: People wear protective face masks, following an outbreak of the novel coronavirus disease (COVID-19), at Lujiazui financial district in Shanghai BEIJING (Reuters) – China’s banks should brace for a big jump in bad loans due to coronavirus-induced economic pain, the financial regulator said on Saturday, noting the deterioration of asset quality […]
Read MoreWASHINGTON — The U.S. economy is stumbling as the viral outbreak intensifies, threatening to slow hiring and deepening the uncertainty for employees, consumers and companies across the country. Coronavirus case counts are rising in 38 states, and the nation as a whole has been shattering single-day records for new confirmed cases. In six states representing […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London By William Schomberg LONDON (Reuters) – British finance minister Rishi Sunak will announce on Wednesday his next moves to prevent a wave of job cuts from snowballing into a full-blown unemployment crisis in the world’s sixth-biggest economy. Sunak is already on course to […]
Read MoreGet the latest news and analysis on the coronavirus outbreak here
Read More2/2 © Reuters. Outbreak of the coronavirus disease (COVID-19) in Frankfurt 2/2 By Philip Blenkinsop and Francesco Guarascio BRUSSELS (Reuters) – The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most […]
Read More© Reuters. The coronavirus disease (COVID-19) outbreak in Leicester LONDON (Reuters) – The number of shoppers visiting retailers was down by nearly 50% last week compared with a year earlier and the amount of money spent in pubs and restaurants as they reopened last weekend suffered a similar fall, data showed on Tuesday. The figures […]
Read More© Reuters. Outbreak of the coronavirus disease (COVID-19) in Frankfurt FRANKFURT (Reuters) – The European Central Bank is considering an extension to a recommendation that banks suspend dividends and share buybacks, and will soon provide an update, ECB bank supervisor Kerstin af Jochnick said on Tuesday. The ECB asked banks to stop dividends and buybacks […]
Read MoreA coronavirus outbreak in the California Legislature has indefinitely delayed the state Assembly’s return to work from a scheduled summer recess, highlighting the rapid spread of the virus in a state that has imposed new restrictions on bars and restaurants following a surge of cases and hospitalizations. Speaker Anthony Rendon’s office confirmed five people who […]
Read MoreA coronavirus outbreak in the California Legislature has indefinitely delayed the state Assembly’s return to work from a scheduled summer recess, highlighting the rapid spread of the virus in a state that has imposed new restrictions on bars and restaurants following a surge of cases and hospitalizations. Speaker Anthony Rendon’s office confirmed five people who […]
Read More2/2 © Reuters. Outbreak of the coronavirus disease (COVID-19) in London 2/2 (Reuters) – Britain’s Treasury and British Business Bank officials are reviewing access to state-backed loan schemes after the European Union relaxed state aid rules, The Daily Telegraph reported. The Treasury is considering ways of making it easier for businesses to access coronavirus support […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London LONDON (Reuters) – Britain will offer its largest ever expansion of traineeships, its finance ministry said on Sunday, ahead of a highly-anticipated update due later in the week on the government’s support for the economy through the coronavirus crisis. Finance minister Rishi Sunak […]
Read More© Reuters. FILE PHOTO: The coronavirus disease (COVID-19) outbreak in Watford LONDON (Reuters) – Britain’s government will double the number of its job coaches as part of a plan to tackle a rise in unemployment triggered by the coronavirus lockdown, the finance ministry said on Saturday. The number of work coaches at British job centres […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Britain LONDON (Reuters) – Britain’s finance ministry said on Friday it will extend the scrapping of sales tax on personal protective equipment (PPE) for infectious diseases until the end of October. “Extending the zero VAT rate on PPE will provide the relief needed by […]
Read MoreThis is the Coronavirus Briefing, an informed guide to the global outbreak. Sign up here to get the briefing by email. Image In an abrupt reversal, Gov. Greg Abbott of Texas issued a sweeping order requiring nearly all Texans to wear masks in public. Only 12 states, mostly in the Northeast, have managed to keep […]
Read More© Reuters. Outbreak of the coronavirus disease (COVID-19) in Rio de Janeiro By Marcela Ayres and Jamie McGeever BRASILIA (Reuters) – Brazil’s emergency payments to low-paid, informal workers hit hard by the COVID-19 crisis stands at around 254 billion reais ($48 billion), more than double all 2020 discretionary spending, a senior Economy Ministry official said […]
Read More© Reuters. A person in a mask walks on a nearly empty street in the coronavirus outbreak near the Treasury Department in Washington WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday approved an extension of a $660 billion lending program in an effort to help small businesses hit hard by the coronavirus pandemic, […]
Read MoreWASHINGTON — With the viral outbreak worsening and unemployment at Depression-era levels, the government on Thursday will issue what will almost surely be another remarkable jobs report. Hiring in June might have reached the highest monthly total on record — 3 million. Yet so deep were the layoffs this spring that a gain that large […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Frankfurt FRANKFURT (Reuters) – The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis. In […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19), in London By Huw Jones LONDON (Reuters) – Britain’s financial watchdog will not open a formal inquiry into how banks charge for overdrafts, but put them on notice on Wednesday of a full evaluation of their pricing next year. The Financial Conduct Authority gave banks […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Ahmedabad By Stephanie Nebehay GENEVA (Reuters) – The outlook for the global labour market in the second half of 2020 is “highly uncertain” and the forecast recovery will not be enough for employment to return to pre-pandemic levels this year, the International Labour Organization […]
Read More2/2 © Reuters. The coronavirus disease (COVID-19) outbreak in Madrid 2/2 MADRID (Reuters) – Thousands of taxi drivers took to the streets of Madrid on Tuesday, honking their horns and clogging up the roads around city hall to demand a limit on the number of vehicles allowed to operate amid a post-lockdown slump in demand. […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) near Bonn BERLIN (Reuters) – German annual inflation accelerated at low levels in June, preliminary data showed on Monday, but remained well below the European Central Bank’s target, providing further justification for stimulus. German consumer prices, harmonised to make them comparable with inflation data from […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London LONDON (Reuters) – British Prime Minister Boris Johnson said on Monday that the government should take an activist and interventionist approach to the economy. “I believe personally that what the government has got to do right now is keep going with an activist, […]
Read More2/2 © Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London 2/2 LONDON (Reuters) – British Prime Minister Boris Johnson promised a “Rooseveltian” boost to public spending to help the country’s economy recover from the coronavirus shock and said a return to austerity would be a mistake. Johnson said he would double down […]
Read More© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Frankfurt BERLIN (Reuters) – A substantial part of the European Union’s package of measures to help the economy recover from the coronavirus pandemic must consist of grants rather than loans, the International Monetary Fund’s chief economist told Der Spiegel. “Otherwise it will not promote […]
Read More
