The latest Economy News: breaking news on the global and UK economy and international investments including audio and video coverage.

Could Apple be the canary in the coal mine for coronavirus?

On Monday, Apple became one of the first U.S. companies to warn that it would miss its current-quarter revenue target as a result of the coronavirus, which has constrained iPhone production and curtailed demand for its products in China. Until now, at least based on the stock market’s “what, me worry,” attitude, the disease, now designated COVID-19, was expected to […]

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Singapore's Budget gives 'fairly large' boost to economy: Heng Swee Keat

SINGAPORE (BLOOMBERG) – Singapore’s Budget provides a “fairly large fiscal boost” to the economy to counter the impact of the coronavirus, with the Government still expecting positive growth for the year, Deputy Prime Minister Heng Swee Keat said on Wednesday (Feb 19). The authorities are open to “upsides as well as downsides” to its growth outlook, and therefore have to […]

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Brazil's real posts record low close as cenbank impact fades, GDP outlook dims

BRASILIA, Feb 18 (Reuters) – Brazil’s real registered an all-time closing low of 4.3573 reais per dollar on Tuesday as the impact of last week’s central bank intervention faded and more economists cut their 2020 growth forecasts. Against a broadly strengthening dollar, Brazil’s currency fell toward last week’s all-time intraday low below 4.38 reais per dollar, which it plumbed before […]

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EMERGING MARKETS-Latam equities at one-week low as Apple warning sours risk appetite

* Apple warns of revenue shortfall due to coronavirus * Latam stocks index hits 1-week low * Citi cuts growth forecast for Brazil (Updates prices, adds analysts’ comment) By Sruthi Shankar Feb 18 (Reuters) – Latin American currencies and stocks came under pressure on Tuesday as Apple Inc’s sales warning underscored fears about economic damage from the coronavirus outbreak. MSCI’s […]

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HSBC to cut 35,000 jobs in massive restructuring as profits sink

HSBC plans to cut some 35,000 jobs over the next three years and slash $100 billion in assets as it undertakes a huge restructuring following a steep drop in profits. Europe’s largest bank by assets announced the effort Tuesday as it revealed net profits plunged 53 percent last year to $6 billion amid political unrest in Hong Kong, uncertainty about […]

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UPDATE 2-German bond yields edge off 2-week low as euro area backs fiscal boost

* Euro zone periphery govt bond yields: tmsnrt.rs/2ii2Bqr (Updates prices, changes quote) By Yoruk Bahceli and Sujata Rao LONDON, Feb 18 (Reuters) – A euro zone finance ministers’ statement backing more fiscal stimulus to tackle economic downturns lifted German 10-year debt yields off two-week lows on Tuesday, though fears for global growth kept up downward pressure on borrowing costs. Euro […]

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UPDATE 1-Greek January central government primary budget surplus misses target

(Adds details, minister’s comment) ATHENS, Feb 18 (Reuters) – Greece’s central government achieved a primary budget surplus of 498 million euros ($539.33 million) in January, missing its target because it got less money from the European Union, finance ministry data showed on Tuesday. The government was projecting a primary budget surplus – which excludes debt-servicing costs – of 1.269 billion […]

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