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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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As US economy falters, state governors mull May 1 reopening A desolate Staten Island Ferry Terminal on April 15, 2020, in the Staten Island borough of New York City. (AFP photo)
Governors of about 20 US states spared the worst of the coronavirus pandemic may start reopening their economies by President Donald Trumps May 1 target date, a top US health official... |
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Asias 2020 growth to halt for 1st time in 60 years amid coronavirus pandemic: IMF The skyline of the Beijings Central Business District rises behind people crossing a street during evening rush hour as the spread of coronavirus disease (COVID-19) continues in China, April 15, 2020. (Reuters photo)
The International Monetary Fund says Asias economic growth will come to a halt in... |
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IMF: Global economy will suffer worst year since Great Depression The International Monetary Fund headquarters building is seen ahead of the IMF-World Bank spring meetings in Washington, the United States, on April 8. (Photo by Reuters)
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s,... |
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US deficit to soar to record $3.8 trillion in 2020, budget watchdog group says A steep economic downturn and massive coronavirus rescue spending will nearly quadruple the fiscal 2020 US budget deficit to a record $3.8 trillion, a staggering 18.7% of US economic output, a Washington-based watchdog group said on Monday.
Releasing new budget estimates based on spending mandated by... |
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Saudi Arabia submits to oil output cut after US threat A handout photo released by the Saudi Press Agency (SPA) on April 9, 2020 in Riyadh shows Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud (R), chairing the virtual extraordinary meeting of Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, amid the novel coronavirus... |
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Feds Kashkari says US economy faces long, hard road to recover from coronavirus An empty New York Subway car is seen on March 23, 2020 in New York City. (AFP photo)
The US economic recovery from the disruptions caused by the novel coronavirus outbreak will likely be a "long, hard road" in which some parts of the economy will periodically shut down and restart, Minneapolis Federal... |
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Coronavirus: EU finance ministers agree on 500 billion emergency fund EU Finance ministers agreed on Thursday to a common emergency plan to limit the impact of the coronavirus pandemic on the European economy.
EU member states have agreed to an emergency response plan of €500 billion.
"This proposal contains bold and ambitious proposals that would have been unthinkable... |
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US weekly jobless claims hit 15mn as corona crisis deepens US visitors to the New York State Department of Labor offices are turned away at the door by personnel. AP/John Minchillo
The number of Americans seeking unemployment benefits has hit a staggering 15 million as the coronavirus pandemic has brought the United States to a halt.
The country recorded 5.250... |
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Global stocks gain on hopes pandemic is reaching peak The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 8, 2020. (Reuters photo)
Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations... |
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Oil prices climb on optimism OPEC+ meeting will result in supply cut Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. (Photo by Getty Images)
Oil prices rose Thursday as the worlds largest oil producers are expected to agree to slash output as part of an effort to shore up coronavirus-hit... |
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US economy to suffer devastating hit: Former Federal Reserve Chair Janet Yellen Federal Reserve Board Chair Janet Yellen speaks during a briefing at the US Federal Reserve December 13, 2017 in Washington, DC. (AFP photo)
Former Federal Reserve Chair Janet Yellen has expressed strong concerns that the worlds biggest economy is in the throes of a "devastating hit".
The novel coronavirus-induced... |
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Low oil prices exacerbating coronavirus outbreak in Venezuela Oil pump jacks are seen in Lagunillas, Venezuela May 24, 2018. (Photo by Reuters)
Venezuelas economy is facing new challenges, as the oil prices have hit record lows in the past days, dropping to as low as 18 dollars per barrel.
The oil price war between Saudi Arabia and Russia is starting to impact... |
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Altered Finance Ministry Opens Doors for Corruption: Watchdog Integrity Watch Afghanistan (IWA) on Saturday strongly criticized a decision by Afghanistan’s Ashraf Ghani to split up the Afghan Ministry of Finance into three separate entities including the office of revenues and customs, the office of the treasury, and the finance administration.
Based on... |
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General Soleimani highly charismatic, conqueror of hearts: Daughter
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