Blindsided: how coronavirus felled the global economy in 100 days

JP Morgan says Chinese GDP might have contracted by 40% in the first three months of 2020. Morgan Stanley pencils in a 30% drop in US output in the second quarter. The numbers are mindboggling, but in a way the pictures of Times Square in New York City and St Mark’s Square in Venice tell […]

Global economy at risk a decade on from financial crisis, says WEF

WEF sources said recent Bank of England concerns about a potential consumer debt crisis were timely since there was evidence that the global banking system was less sound than before the financial crisis and that conditions were deteriorating in some parts of the world. Last month, the International Monetary Fund warned of a “dangerous” growth […]

RBI Monetary Policy report: Post-COVID-19 estimates suggest global economy could slump into recession in 2020

Coronavirus impact: PCB to conduct online fitness tests of Pakistan players, drills include ‘Yo-Yo’ This fund manager shares mantra for picking sectors for post-COVID-19 world Coronavirus pandemic | Centre approves COVID-19 emergency package for states, UTs

Brexit economy: a turbulent year ends on steadier ground

Businesses are also continuing to press the government to make further progress in talks with the EU, despite this month’s breakthrough, warning they will keep hiring and investment plans on ice without greater clarity. Firms want to see a transitional deal to smooth the UK’s exit from the EU as early as possible. However, there […]

IMF chief flags up grim global economic forecast

The IMF managing director said there was still “extraordinary uncertainty” about the depth and duration of a crisis that began in the Chinese city of Wuhan in January. She added that it was already clear that global growth would turn sharply negative in 2020. “In fact, we anticipate the worst economic fallout since the Great […]

Global investors clamour for safe haven in UK government bonds

“The UK is still a large market for bonds and sterling is still a reserve currency behind the dollar and the euro. And the UK is not different to any other country in needing extra funds to support extra spending. It is not an outlier,” he said.

Oil  Rises as Hopes Build for Global Production Cut

“With 28 million bpd of oversupply in the oil market in April and 21 million bpd in May, the global coordinated production cuts that are really needed may be too large for the producers to accept; perhaps twice as large as the numbers being discussed,” said Rystad Energy’s Bjornar Tonhaugen.   

BUSINESS NEWS HEADLINES APRIL 7

The Ministry of Industry and Trade reports that firms operating in the garment, leather and footwear, and woodwork processing sectors have been hit by a double impact from the ongoing COVID-19, after many of their buyers chose to delay delivery of signed orders in the months ahead. Moreover, the vast majority of buyers are currently […]

Coronavirus impact: Evidence mounts that the global recession is already here

global recession. The breadth of the collapse is beginning to appear in the initial trickle of economic data across the world, revealing a cratering of trade, reined-in business investment, cowering consumers and surging unemployment that’s sparing few industries.The hit to demand is visible on the world’s oceans, where a measure of U.S. export volumes in […]

How has the Brexit vote affected the economy? December verdict

Worse than forecast Inflation increase adds to cost of living squeeze The run-up to Christmas was marred by an unexpected further increase in the rate of inflation, as the higher cost of importing food and fuel to the UK, owing to the pound’s weakness since the Brexit vote, exacerbated the squeeze on British consumers. The […]