Global economy
Stars and scientists call for world not to 'go back to normal'
They said the pandemic was a tragedy but it was a chance for humanity to "examine what is essential".
-
Coronavirus health fears outweigh concern for economy - global survey
The latest findings of the Edelman Trust Barometer challenge the notion that “lockdown fatigue” is rising among populations hit by the pandemic.
-
BP announces $4.4bn quarterly loss as oil prices crash
Crude futures plunged to record lows this month, with US prices sinking briefly into negative territory, also following a vicious price-war between major oil producers Saudi Arabia and Russia.
-
Chinese economy contracts for first time in decades: AFP survey
The world's second-largest economy tanked in the first three months of the year as factories closed, consumers were compelled to stay home, and the virus spread to other countries.
-
Pandemic causing deep recession, and it could get worse: IMF
The downturn will slash $9 trillion from the world economy, IMF chief economist Gita Gopinath told reporters as she presented the latest forecasts in the World Economic Outlook.
-
ANALYSIS: How to think straight during a crisis
Edward Chancellor writes that the decisions of businesspeople and investors are necessarily affected by their thinking about COVID-19. It’s more important than ever to avoid allowing cognitive biases to overwhelm better judgement.
-
Eurozone could put up €240bn in COVID-19 aid - head
Mario Centeno, who is also Portugal's finance minister, said the funds would be made available via the European Stability Mechanism. Centeno said any credit line should be designed to help, not make matters worse for those states needing aid.
-
OPINION: The world needs to declare bankruptcy
Finance is doing more harm than good. It's supposed to help the economy run smoothly by channelling money to the places where it can do the most economic good. Instead, it's slowing down growth and adding risk, writes Edward Hadas.
-
ANALYSIS: The world before this coronavirus and after cannot be the same
We must avoid the mistakes made throughout the 20th and early 21st centuries by undertaking fundamental reforms to ensure that we never again face the threat of pandemics.
-
World Bank to lower global growth forecast over virus outbreak
The World Bank last month forecast a rebound in global growth this year after the easing of trade tensions between the US and China that had contributed to a decline in 2019.
-
ANALYSIS: New China virus is bigger threat to world economy than SARS
The world’s second-largest economy, already weak, now accounts for a much larger share of global growth. No wonder investors are jittery.
-
Equities and oil tank as deadly coronavirus triggers panic
Chinese President Xi Jinping warned over the weekend that China was facing a 'grave situation' given the 'accelerating spread' of the new SARS-like virus that has infected nearly 1,300 people across the country.
-
The big shortcoming: A grumpy 2020 for global growth
The OECD expects global growth to dip in the coming year to 2.9%, its lowest level since the world recession of 2009.
-
Rand steadies, stocks close higher
Despite the opening of an impeachment inquiry into US President Donald Trump this week and mixed signals on a trade deal, the dollar has remained resilient.
-
Trump moving ahead with new tariffs on Chinese products
President Donald Trump on Friday ruled out any further postponement. 'They're on,' he told reporters.
-
China state media blasts US after Trump threats
The world’s two largest economies have been locked in an increasingly bitter trade war which has seen them level tariffs on each other’s exports.
-
Rand falls as investors weigh local, global risks
At 1555 GMT the rand was 0.82% weaker at 15.4150 per dollar, tracking weakness in most emerging markets currencies as trade worries linger.
-
Why society is paying the price of inequality
Mike Brewer says it’s increasingly clear that high levels of inequality damage our health and well-being, harm social cohesion and levels of trust, and act as a brake on economic performance.
-
China's industrial output hits 17-year low
The figures are the latest to highlight how the world's second-largest economy is being battered by an escalating trade war with the United States and slowing global demand.
