Global economy
Omicron variant raises new fears for pandemic-hit world economy
First reported to the World Health Organization in South Africa less than a week ago, the new strain has rapidly spread everywhere from Africa to the Pacific,...
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Crude, sterling and equities advance on recovery optimism
The rollout of vaccines around the world has allowed leaders of key economies including the United States and Europe to wind back the containment measures that sparked a recession last year.
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Women and workers in low-paying jobs hardest hit by COVID-19 - ILO report
The Global Wage Report found that the overall share in global income was on the decline for the past five years, however, the situation was exacerbated by the coronavirus pandemic.
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World economy back to pre-pandemic level in 2021 - OECD
The Organisation for Economic Co-operation and Development now sees world output dropping by 4.2% this year thanks to the months-long lockdowns that slowed the spread of the coronavirus but threw a wrench into the global economy.
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Global economic recovery from COVID-19 'remains difficult' - IMF
The IMF expects global growth to contract by 4.4% this year before rebounding 5.2% in 2021. However, IMF Managing Director Kristalina Georgieva noted third-quarter growth was better than expected in the US, Japan, and European countries.
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IMF warns of lasting economic damage, long climb out of recession
Growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by COVID-19.
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World stocks slide after Trump catches coronavirus
The news of Donald Trump's diagnosis sparked fresh political chaos in the world's biggest economy just one month before Americans go to the polls.
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COVID-19 pushing much of the world into record economic slumps
Here are the second quarter changes in gross domestic product (GDP) compared to the previous quarter for the world's top economies.
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Markets mixed ahead of Fed decision as US lawmakers wrangle
The Federal Reserve concludes its latest policy meeting later in the day, and while it is not expected to announce any new measures, there are hopes it will offer new guarantees that it will keep the stimulus in place for an extended period.
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Gold hits new record, equities up on US stimulus hope
US second-quarter economic growth data is also due this week, and a disappointing reading on what is expected to be a historic contraction could fuel further dollar weakness.
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EXPLAINER: When the US sneezes, the world gets a cold. So what about COVID-19?
The country’s troubled response to the coronavirus pandemic emerges as a chief risk to any sustained global recovery.
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S&P: Downward GDP revision for developing nations reflect pandemic situation
The agency has cut its growth forecasts for emerging markets, predicting a 4.7% slump on average this year due to the coronavirus.
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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".
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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.
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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.
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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.
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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.
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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.
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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.
