China reported that its first-quarter GDP contracted by 6.8% in 2020 from a year ago as the world’s second-largest economy took a huge hit from the coronavirus outbreak, data from the National Bureau of Statistics of China showed.
U.S. President Donald Trump has told governors that some could begin reopening their states by May 1 or earlier if they wanted despite ongoing coronavirus infections, according to audio recordings distributed Thursday.
Protests continue in the United States against the perceived ‘tyrannical’ lockdown orders to halt the coronavirus pandemic. In Richmond, Virginia, dozens of people gathered outside the state legislature Thursday in defiance of stay-at-home rules, which the governor instituted until June 10. ‘STOP the MADNESS! It’s just a COLD VIRUS! End the shutdown for the GOOD of U.S. all!’ read one sign.
President Donald Trump said Wednesday that some big decisions will be announced Thursday about how parts of the U.S. economy will begin to reopen after stay-at-home orders closed businesses and led to millions of lost jobs across the country.
US coronavirus deaths rose by at least 2,228 on Tuesday, a single-day record, to top 28,300, according to a Reuters tally, as officials debated how to reopen the economy without reigniting the outbreak.
Debt held by the public will exceed the size of the U.S. economy by the end of fiscal 2020, a watchdog said Monday.
Israeli officials say the government wants to gradually reopen the country’s economy hit hard by a coronavirus pandemic that overshadowed the Passover holiday. But in a setback for the tourism industry, regular flights will only resume in September, Israeli media reported Saturday.
The federal government debt of the United States has reached a record $24 trillion despite warnings by the nation’s leading watchdog that it is unsustainable for the world’s largest economy.
Britain’s Prime Minister Boris Johnson was taken from intensive care late Thursday but remained in a London hospital recovering of the new coronavirus COVID-19, his office announced. “The prime minister has been moved this evening from intensive care back to the ward…He will receive close monitoring during the early phase of his recovery,” it added.
The Federal Reserve is not leaving any corner of the U.S. bond market behind in this crisis.
A new report shows the “dramatic reversal” of a five-year trend as US companies commanded a considerably larger share of manufacturing in 2019 than the 14 Asian exporters that were tracked for the study. According to the seventh annual Reshoring Index report by global manufacturing consulting firm Kearney, Chinese exporters suffered the greatest losses.
Japanese Prime Minister Shinzo Abe on Tuesday declared a state of emergency to fight coronavirus infections in major population centers and rolled out a nearly $1 trillion stimulus package to soften the economic blow.
The Federal Reserve is temporarily relaxing a rule that imposes additional capital requirements on deposits and Treasury securities held by the biggest U.S. banks.
The world’s largest investment bank and financial services company warns of a “deep global recession” due to the new coronavirus pandemic. New York-based Morgan Stanley says worldwide economic growth could slow by as much as 0.9 percent this year. “[The virus] COVID-19 is at once a human tragedy and unparalleled synchronous shock, affecting both the demand and supply sides of the global economy,” writes Morgan Stanley chief economist Chetan Ahya in a note.
U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists’ views that the economy was in recession.
Millions of U.S. workers are losing their jobs in a surge of layoffs as businesses large and small shut their operations amid the coronavirus pandemic.
Moody’s Investors Service has cut its outlook on corporate debt to negative, saying that an economy about to tip into recession because of the coronavirus will result in rising default rates.
President Donald Trump signed a $2 trillion coronavirus stimulus bill Friday just hours after it passed in the House, making law out of a package that will send billions of dollars directly to Americans and provide hundreds of billions more for businesses, health care systems and others impacted by the pandemic that has crippled the economy.
President Donald Trump and Vice President Mike Pence joined over 700 pastors on a conference call Friday to pray for strength and stamina amid the novel coronavirus outbreak.
G20 nations pledged a ‘united front’ Thursday in the fight against coronavirus, saying they were injecting $5 trillion into the global economy to counter the pandemic amid forecasts of a deep recession.