World Bank Gives 'Deeply Sobering' Forecast on Global Economy
Jun 11, 2020 06:38 am UTC| Economy
The World Bank painted a gloomy picture of the global economy this year, forecasting that it will shrink by 5.2 percent to mark the deepest recession since World War II. The World Bank revised its January 2020 global...
UK, Japan Start Trade Talks to Replace EU Deal
Jun 11, 2020 02:22 am UTC| Economy
The UK and Japan started trade talks Tuesday to replace the EU-Japan free-trade agreement that the UK will no longer benefit from at the end of 2020. Japan is the UKs fourth-largest non-EU trading partner, with trade...
S. Koreans Spent Relief Funds Mainly on Restaurants, Grocery Stores
Jun 10, 2020 22:02 pm UTC| Economy
The coronavirus relief funds distributed in South Korea were spent mostly on dining out and groceries based on transactions made from May 11-31 of credit and debit cards from eight financial firms. According to the...
France Extends $17 billion Assistance to Aviation Industry
Jun 10, 2020 05:44 am UTC| Economy
France will provide $16.9 billion to its aviation industry to keep pace with the United States and China in the aerospace race and secure 100,000 jobs over the next six months. The $16.9 billion package includes $7.9...
Shipping Industry Warns of Supply Chain Risks with 400,000 Seafarers Stranded
Jun 10, 2020 04:54 am UTC| Economy
The international shipping industry warned of a global trade crisis with up to 400,000 crew stranded either at sea or at home due to the pandemic. Guy Platten, secretary-general of the International Chamber of Shipping,...
UK Gov't Criticized for Extending Cheap Loans to Big Firms
Jun 10, 2020 04:16 am UTC| Economy
The UK government is under fire for extending over $20 billion in cheap loans to 53 well-known firms. German chemical giant BASF, which only employs around 850 people in the UK, was given the biggest single loan of...
US Billionaires Gain $565 Billion Since Start of Pandemic
Jun 10, 2020 04:15 am UTC| Economy Investing
US billionaires have become $565 billion richer since March 18, as the stock market skyrocketed in large part because of unprecedented action from the Federal Reserve. According to a report published by the Institute...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects