Currencies
US jobless claims hit 6.6m as Covid-19 takes its toll
The number of Americans filing for unemployment benefits last week was much higher than expected as the coronavirus pandemic continues to take its toll, according to figures released by the Labor Department on Thursday.
Federal Reserve to purchase higher-rated junk bonds through new facility
America's central bank stepped up to the plate yet again with plans to provide as much as $2. 3trn in financing for the private sector, especially for small and medium-sized companies, alongside local and state governments.
US consumer confidence sees largest one-month drop ever in April
US consumer confidence registered its largest monthly drop ever in April, although a key gauge of Americans' expectations for the future help up relatively well all things considered.
Italy's Conte warns Covid-19 debt row could split EU
Italian Prime Minister Guiseppe Conte warned the European Union could fracture over tensions on how to deal with the coronavirus crisis as he said the current lockdown could be eased by the end of the month.
Living standards to fall in worst slump since Great Depression - IMF chief
Living standards will fall in more than 170 countries in 2020 as the Covid-19 crisis causes the worst economic downturn since the Great Depression, the head of the International Monetary Fund warned.
Airlines call for amendment of carbon deal due to coronavirus crisis
Airlines are lobbying to amend the recently agreed carbon scheme designed to bring down the aviation sector's emissions as the Covid-19 coronavirus crisis makes it harder for carriers to meet their agreed targets.
Covid shock could spark global Depression-era slump: WTO
Global trade could plummet by up to 32%, a level similar to the Great Depression of the 1930s, in the aftermath of the coronavirus pandemic, the World Trade Organisation said.
Trump lashes out at WHO and threatens to withdraw funding
US President Donald Trump lashed out at the World Health Organization late on Tuesday over it’s handling of the coronavirus pandemic and threatened to withhold US funding.
Fastjet warns on future as FedAir sheds jobs, cuts wages
African budget airline Fastjet warned that its future was under threat unless it raised fresh capital or sold its Zimbabwe operations as jobs and salaries were cut in response to the coronavirus.
Millions of jobs at risk as airlines running out of cash - IATA
At least 25 million jobs could be at risk around the world from the slump in passenger traffic caused by the coronavirus pandemic, the airline industry body warned on Tuesday.
German industrial production edged up before Covid-19 hit
German industrial output unexpectedly rose in February before the Covid-19 crisis spread to Europe's biggest economy, official figures showed.
Japan to unveil stimulus package worth nearly 20 per cent of GDP
Japanese authorities unveiled plans at the start of the week to launch the country's biggest ever stimulus package in a bid to contain the economic fallout from the Covid-19 pandemic.
EU probes Facebook's online classifieds service
The European Union’s probe into media giant Facebook will now focus on whether the social media network is distorting the classified advertising market by promoting its own Marketplace.
Global car industry revenue hit $100bn by pandemic
The Covid-19 coronavirus is severely impacting consumer and business behaviour and threatens to erase around $100bn in global full-year revenues from the automotive industry with UK car sales having already fallen 44. 4% in the key month of March.
Norway may join OPEC+ in cutting output, Canada will dial into summit
Norway may cut its oil production alongside other major producers if an agreement for a significant combined reduction can be reached.
Italy Covid-19 infections continue to slow
The increase in the number of Italians infected with the Covid-19 coronavirus continues to slow.
Brent futures jump again after report Russian firms ready to cut
Crude oil futures extended the previous day's rally following reports that Russian oil producers were prepared to reduce their own output to help stem the rout in prices.
US non-farm payrolls sink in March, unemployment soars
The US jobs market deteriorated massively in March as the Covid-19 pandemic began sweeping across the country and some state authorities moved to a lockdown.
People's Bank of China moves to free up ¥400bn to boost SME lending
The People’s Bank of China has cut the amount of cash smaller banks must keep in reserve, as it looks to bolster the country’s economic recovery following the Covid-19 outbreak.
China's services sector sees only marginal recovery
China’s crucial services sector recovered only marginally in March after tumbling to record lows in February, data published on Friday showed.