Economy and business news from around the world

Economy

Virus could cut up to 9.7 percent off global economy: ADB

Many airlines have either retrenched staff or told their employees to take unpaid leave.

May 15, 2020

By AFP News

WTO chief to step down early as global economic crisis rages

The Brazilian diplomat, who became the WTO chief in 2013, suggested that an early change of leadership would help it face "new post-COVID realities".

May 15, 2020

By Nina Larson

Donald Trump Brexit

Nearly 600,000 Australians lose jobs as virus lockdown bites

The Treasury has forecast the unemployment rate will reach 10 percent in the June quarter.

May 14, 2020

By AFP News

Unemployment

Virus-slammed UK economy slumps at fastest pace since 2008

The nation's second-quarter contraction is meanwhile expected to be far steeper than the first.

May 14, 2020

By Roland Jackson

GDP Bank of England

UK economy shrinks on coronavirus

Britain has seen more than 32,000 deaths in the outbreak.

May 13, 2020

By Roland Jackson

England United Kingdom

Virus lockdowns scale back May Day rallies

This year the date carries extra significance after the COVID-19 outbreak sent the global economy into a historic tailspin.

May 1, 2020

By IBT Staff Reporter

Hopes rise in virus battle as US scientists hail drug trial

A clinical trial of the drug remdesivir showed that patients recovered about 30 percent faster than those on a placebo.

Apr 30, 2020

By Shaun Tandon with AFP bureaus

Donald Trump

Asia markets lifted by hopes worst of virus has passed, oil falls

New York Governor Andrew Cuomo said that a first stage of a reopening would start on May 15 if hospitalisations decrease.

Apr 27, 2020

By IBT Staff Reporter

New York Donald Trump

Eurozone economy suffers 'unprecedented' collapse

Employment in Europe plummeted for the second month running.

Apr 23, 2020

By Marc Burleigh

Italy France Spain England

'Collapsology': Is this the end of civilisation as we know it?

The effects of the current crisis might be much bigger than expected.

Apr 21, 2020

By Stephanie Orjollet

UK GDP could 'fall 13 percent' in 2020 as virus death toll climbs

The OBR warned that the impact of the pandemic could initially be a bigger shock to the UK economy than the 2008 financial crisis and even the world wars.

Apr 15, 2020

By James Pheby, David Harding

GDP

Asian markets rise after Fed stimulus boosts Wall St

The pandemic has now claimed more than 94,000 lives around the world.

Apr 10, 2020

By AFP News

OPEC

Portia Antonia Alexis On Economic Inequality, Social Mobility, And the Future Of Global Wealth Distribution

Portia Alexis is a 'humanist', and according to her we all are. The pursuit of her history is key to Portia Antonia Alexis' passion for her research area: income inequality, social welfare and social mobility.

Apr 2, 2020

By Staff Reporter

G20 finance ministers to hold virtual talks on coronavirus crisis

The talks came after criticism that the G20 has been slow to address the COVID-19 pandemic, which has left more than 37,500 dead worldwide.

Mar 31, 2020

By AFP News

G20 Donald Trump Vladimir Putin IMF

China slashes rate, pumps $7 bn into market to counter virus

The deadly pathogen has claimed almost 40,000 lives worldwide.

Mar 30, 2020

By AFP News

IMF chief: 'Clear we have entered recession'

The IMF chief said in her press conference on Friday that this recession would be even worse than in 2009.

Mar 28, 2020

By AFP News

IMF International Monetary Fund Donald Trump

Trump signs $2 trillion recovery plan as US virus cases skyrocket

It triggers the distribution of millions of relief checks of up to $3,400 for an average American family of four.

Mar 28, 2020

By Michael Mathes

Donald Trump

Massive risks to world economy as virus battle rages

The crash will almost certainly be accompanied by a surge in unemployment, especially in countries with weaker worker rights, such as the US.

Mar 26, 2020

By Veronique Dupont

Unemployment G20

Asia equities rally as US agrees blockbuster stimulus package

While the deadly disease continues to spread, traders have a rare semblance of optimism.

Mar 25, 2020

By AFP News

Donald Trump

EU finance ministers split on coronavirus rescue plan

The COVID-19 outbreak has brought the European economy to it knees and Italy, with the backing of France and Spain, wants a massive response from EU partners.

Mar 25, 2020

By Alex Pigman

European Union France Spain

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