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The latest Economy News: breaking news on the global and UK economy and international investments including audio and video coverage.
SINGAPORE – The payment performance of local firms nosedived to a near three-year low for the first quarter of 2020 as the coronavirus took a toll on businesses, according to data from the Singapore Commercial Credit Bureau (SCCB) released on Monday (April 6). It showed that slow or delayed payments surged by 6.05 percentage points from 39.75 per cent in […]
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NEW YORK (BLOOMBERG) – The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades. With many national economies all but shutting down in an effort to contain the coronavirus, prices on everything from oil and copper to hotel rooms and restaurant take-out are tumbling. […]
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As Singapore puts in place a “circuit breaker” to fight a new wave of coronavirus infections, many businesses are scrambling to make preparations ahead of tomorrow’s closure of workplaces for one month, except for key economic sectors and essential services, while some firms are planning to file applications to continue operating at their premises. Some companies began making preparations for […]
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LONDON, April 5 (Reuters) – Britain should not start to lift restrictions on social contact until it is clear that coronavirus transmission is in retreat, otherwise a second wave could occur, England’s Deputy Chief Medical Officer Jenny Harries said on Sunday. “The very last thing we would want to do is to have put in all of this effort, with […]
Read more (Updates death toll and confirmed cases, adds economy minister’s comments on measures to release credit and boost economy) By Gabriela Mello SAO PAULO, April 4 (Reuters) – Brazil’s lower house of Congress approved a constitutional amendment for a “war budget” to separate coronavirus-related spending from the government’s main budget and shield the economy as the country surpassed 10,000 confirmed cases. […]
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DUBAI/MOSCOW (REUTERS) – Opec and Russia have postponed a meeting due on Monday to discuss oil output cuts until April 9, Opec sources said on Saturday, as a row between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified. The delay came amid pressure from US President Donald Trump for the Organization of the Petroleum […]
Read more CAIRO, April 4 (Reuters) – Egyptian President Abdel Fattah al-Sisi on Saturday postponed the launch of mega-projects including the Grand Egyptian Museum and moving civil servants to a planned new capital city to 2021 from 2020 due to the coronavirus outbreak, the presidency said. The new museum had been due to open later this year, while the first group of […]
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* PM Orban to announce big package on Monday * Central bank to unveil more substantial steps * Separate fund to handle virus crisis By Marton Dunai BUDAPEST, April 4 (Reuters) – Hungary is preparing to announce a roughly $30 billion package of measures to help jump-start the economy amid the coronavirus outbreak, a top government official said on Saturday. […]
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With a staggering number of Canadians being laid off during the COVID-19 outbreak, people who have been looking for work are finding it especially challenging. Kareen Emery is vice-president of the recruiting firm Monster Canada, which focuses on employment trends. She says the impacts that previous recessions have had don’t even come close to what is being seen now during […]
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NEW YORK, April 3 (LPC) – General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US. The company originally went out to its JP Morgan and Citigroup-led bank group in early March requesting to push […]
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