Economic News
09 Apr
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.

09 Apr
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.

09 Apr
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.

09 Apr
UK economy could contract by up to 25% in Q2, says NIESR

The UK economy could contract by between 15% and 25% in the second quarter if the lockdown continues, the National Institute of Economic and Social Research (NIESR) said on Thursday.

09 Apr
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Government expected to extend Covid-19 lockdown

The government is expected to extend its Covid-19 lockdown beyond next week but the announcement is likely to be put on hold until after the long Easter weekend, raising concerns that warm weather could tempt people to defy restrictions.

09 Apr
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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.

09 Apr
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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.

09 Apr
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BoE to fund government spending using overdraft account

The Bank of England has agreed to directly finance extra spending imposed on the government by the Covid-19 crisis, allowing the Treasury to raise short-term funds outside the bond market.

09 Apr
factory, factories, manufacturing
UK economy shrank in February before Covid-19 crisis hit

The UK economy shrank in February even before the full effects of the Covid-19 pandemic began to hit businesses and consumers, official figures showed.

09 Apr
Homes, houses, London
RICS calls for stamp duty holiday as housing market collapses

RICS called for a stamp duty holiday to restart the UK housing market as its monthly survey showed confidence and activity plunging as a result of the Covid-19 crisis.

08 Apr
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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.

08 Apr
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UK government launches inquiry into potential Chinese interference in UK hi-tech

The Commons have opened an inquiry into potential asset-stripping of UK high-tech firms on Wednesday.

08 Apr
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.

08 Apr
Aviva pulls final dividend due to Covid-19 after BoE pressure

Insurance group Aviva bowed to central bank pressure on Wednesday and pulled its final dividend as it braced for the financial impact of the coronavirus pandemic.

08 Apr
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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.

08 Apr
factory, factories, manufacturing
UK company earnings in recession before Covid-19 crisis - survey

UK company earnings were in a prolonged earnings recession even before the Covid-19 crisis erupted, a survey showed.

07 Apr
UK's Johnson does not have pneumonia - spokesman

UK Prime Minister Boris Johnson did not have pneumonia and was breathing without the assistance of a ventilator, a Downing Street spokesman confirmed on Tuesday.

07 Apr
Fastjet, aircraft, Africa
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.

07 Apr
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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.

07 Apr
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Wellcome Trust calls on firms to donate $8bn for coronavirus research

The Wellcome Trust London-based charity is calling on big businesses to donate $8bn for research to attempt to develop tests, therapies and vaccines to fight the ongoing coronavirus pandemic.

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