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Trump administration pushing to rip global supply chains from China: Officials Containers of Chinese companies China Shipping and COSCO (China Ocean Shipping Company) are loaded on a container as it is leaving the port in Hamburg, Germany on March 11, 2020. (Reuters photo)
The Trump administration is "turbocharging" an initiative to remove global industrial supply chains from... |
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Trump says more needs to be done to ease economic hit of coronavirus pandemic US President Donald Trump gestures as he speaks during a Fox News virtual town hall "America Together: Returning to Work," event, with anchors Bret Baier (R) and Martha MacCallum (L), from the Lincoln Memorial in Washington, DC on May 3, 2020. (AFP photo)
US President Donald Trump said there had to... |
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US processes over $500 bln in small business loans to stem coronavirus fallout In an aerial view photographed with a drone, boats populate Huntington Harbor as beaches and parks remain closed due to the coronavirus pandemic on May 03, 2020 in Huntington, New York. (AFP photo)
The United States has made over $500 billion in loans to small businesses hit hard by the coronavirus... |
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Business community calling on government to prepare for end of lockdown The gulf between the business community and the government over the management of the coronavirus crisis is widening by the day
With the deadline for reviewing the coronavirus lockdown fast approaching, the government is coming under increasing pressure from the business community to significantly ease... |
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Foreign direct investment to Iran down at $854 mln in year ending March: Report Iran says foreign direct investment shrank in year ending March by 22.5 percent at $854 million.
Foreign direct investment (FDI) to Iran declined over the past calendar year to stand at $854 million, says a new report.
Figures published on Sunday by the semi-official ISNA news agency showed that FDI... |
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US aviation sector cuts more jobs amid travel meltdown A worker walks past a Boeing 737 MAX jet at a Boeing airplane manufacturing plant Wednesday, April 29, 2020, in Renton, Washington. (AP photo)
The ongoing US travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower... |
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Iran allows issuance of $1.12bn worth of sukuk bonds under current budget People watch information displayed on the digital screen of the Tehran Stock Exchange.
The Iranian government has authorized a decision to issue up to $1.12 billion worth of new sukuk securities to fund various projects in the current fiscal year.
The decision signed off by Vice President Eshaq Jahangiri... |
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Buffetts Berkshire posts nearly $50 billion loss as coronavirus causes pain (FILES) In this file photo taken on May 4, 2019 Warren Buffett, CEO of Berkshire Hathaway, speaks to the press as he arrives at the 2019 annual shareholders meeting in Omaha, Nebraska. (AFP photo)
Warren Buffetts Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record... |
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Economic figures show grim toll in Europe and US from virus Economic figures show grim toll in Europe and US from virus
Bleak new figures Thursday underscored the worldwide economic pain inflicted by the coronavirus: The number of Americans filing for unemployment benefits has climbed past a staggering 30 million, while Europes economies have gone into an epic... |
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Lloyds Groups first quarter pretax profit virtually erased by provisions against expected bad loans due to pandemic FILE PHOTO: A woman walks past a branch of Lloyds bank in London, Britain, July 20, 2018. REUTERS/Toby Melville/File Photo
Lloyds Banking Groups first quarter pretax profit was all but erased by provisions against expected bad loans due to the coronavirus pandemic, although Britains biggest bank said... |
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Oil prices surge over 10% amid signs fuel demand picking up This file photo taken on April 25, 2020 shows a view of the Marathon Petroleum Corps Los Angeles Refinery in Carson, California. (AFP photo)
Oil prices jumped on Thursday following reports that US crude stockpiles increased less than expected and that gasoline demand battered by coronavirus restrictions... |
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Decade of US growth ends as Fed warns of more virus hardship ahead Shipping containers are seen at PortMiami on April 29, 2020 in Miami, Florida. (AFP photo)
The coronavirus pandemic ended a decade of US economic expansion, but the Federal Reserve pledged Wednesday to use every tool it has to help fuel a recovery.
The central bank warned that the virus continues to... |
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Germanys economy to suffer biggest slump this year, govt. warns Tester Cameron Robertson speaks with a person to be tested in a corona screening station in Ebersberg near Munich, southern Germany, on April 29, 2020, amid the new coronavirus COVID-19 pandemic. (AFP photo)
The German government has warned that the countrys economy is expected to suffer the biggest... |
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EU airlines face ruin due to COVID-19 In normal times the main airport terminals across the European Union were thronged almost 24 hours a day due to the deadly coronavirus things are much different now.
Airlines have been brought to their knees and are pleading for government assistance. Air France KLM is to receive nine billion euro... |
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Fitch downgrades Italys credit rating amid growing dissatisfaction Ratings agency Fitch has cut Italys credit rating from BBB to BBB- , just one notch above its junk rating, citing the disastrous effect of the Covid-19 crisis on the countrys economy.
Fitchs unscheduled update on Italys creditworthiness is likely to further increase doubts about the sustainability... |
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Boeing to cut workforce by 10% and reduce 787 production due to pandemic Boeing Co (BA.N) said on Wednesday it would cut its workforce by about 10% and further reduce 787 Dreamliner production after reporting a loss for the second straight quarter as the coronavirus pandemic hits global travel demand.
Its stock was up 5.4% at $138.34 in premarket trading.
Planemakers,... |
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US economy contracted most since Great Recession over coronavirus A view of Bad Daddys Burger Bar as it reopened for dine-in seating on April 27, 2020 in Decatur, Georgia. (AFP photo)
The US economy contracted in the first quarter at its sharpest pace since the Great Recession as businesses across the country shut down and laid off tens of millions of workers to... |
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Oil prices extend falls on storage concerns Rail cars carrying crude oil on April 24, 2020 near Odessa, Texas. (AFP photo)
Oil prices extended falls Tuesday a day after another massive rout, as concerns over storage capacity overshadow cuts by top producers aimed at boosting coronavirus-hit markets.
US benchmark West Texas Intermediate fell... |
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Satellite images reveal huge amounts of methane leaking from US oil fields Screenshot from the satellite images of the US Permian oil fields provided by the Environmental Defense Fund (Retrieved from CBS News)
The largest oil-producing area in the US is spewing more than twice the amount of methane emissions than previously thought, satellite images reveal.
Satellite images... |
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The International Trade Centre, CARE Enterprises and Bamboo Capital Partners join forces to boost gender justice with the CARE-SheTrades Impact Fund The International Trade Centre (ITC), CARE Enterprises Inc. (CARE) and Bamboo Capital Partners (Bamboo) have joined forces in their mission to achieve gender equality with the CARE-SheTrades Impact Fund (the Fund).
The Fund was launched in June 2018 by Bamboo and CARE to drive progress... |
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Americans too scared to go to work risk losing unemployment aid, experts say People wait to get an interview for job in a construction on March 26, 2020 in New York City. (Getty Images)
US workers who refuse to return to their jobs because they are worried about catching the coronavirus should not count on getting unemployment benefits, state officials and labor law experts... |
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Pandemic pushes South Koreas economy into worst contraction since 2008 A container terminal is seen at Incheon port in Incheon, South Korea, on May 26, 2016. (Photo by Reuters)
In the first quarter of this year, South Koreas coronavirus-hit economy experienced its most severe contraction since 2008, when a massive financial crisis engulfed the world, indicating that Asias... |
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Coronavirus: Spain wants EU to unite behind 1.5 trillion COVID-19 recovery fund Spain is calling on its neighbours to unite behind its proposal for a joint EU fund that would help the blocs hardest-hit economies recover from the coronavirus crisis.
"In this crisis, either we all sink or we all float. Spain wants everybody to float, for sure," Spanish Foreign Affairs Minister... |
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NRA had to spend $100 million for legal battles: Leaked tape The United States National Rifle Association (NRA) had to spend $100 million for its legal battles, a leaked tape has revealed.
"The cost that we bore was probably about a hundred-million-dollar hit in lost revenue and real cost to this association in 2018 and 2019," NRA CEO Wayne LaPierre is heard... |
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US stocks end sharply down for 2nd straight day Wall Street stocks tumbled for a second straight session Tuesday as worries about chaos in the oil market overshadowed progress in Washington on additional relief for small businesses.
The Dow Jones Industrial Average finished down more than 630 points, or 2.7 percent, at 23,018.88.
The broad-based... |
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South Korean bank submits to US fine over Iran transactions This file photo shows Industrial Bank of Koreas headquarters building in central Seoul.
South Koreas Industrial Bank of Korea (IBK) says it has submitted to the US demand to pay $86 million in fine for processing Iranian transactions.
The compromise includes paying $51 million to US prosecutors and... |
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Irans main stock exchange records biggest daily jump ever People watch information displayed on the digital screen of the Tehran Stock Exchange. (File photo by Mehr News)
Irans main stock exchange the TSE has recorded its biggest daily jump as main index in the market tops an all-time high of 668,320 points.
Reports in the local media said Tehran Stock Exchange... |
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Coronavirus: Chinas economy shrinks by 6.8% in worst downturn since 1970s China suffered its worst economic contraction since at least the 1970s in the first quarter as it fought the coronavirus, and weak consumer spending and factory activity point to a longer, harder recovery than initially expected.
The worlds second-largest economy shrank 6.8% from a year ago in the... |
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World economy may face double recession amid coronavirus pandemic The world economy, which already faces a crisis worse than the Great Depression, might suffer another "possibly much worse downturn." (File photo)
As the world economy is expected to suffer its worst year in 2020 since the Great Depression of the 1930s, another "possibly much worse downturn" is likely... |
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Oil near 18-year low on demand devastation warning The Marathon Refinery is seen in Carson, California, on March 9, 2020. (AFP photo)
Oil languished at multi-year lows on Thursday, with WTI crude remaining around $20 a barrel as dire warnings about a virus-triggered demand shock overshadowed a deal to cut output.
US benchmark West Texas Intermediate... |
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General Soleimani highly charismatic, conqueror of hearts: Daughter
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