economics

Bank of England rate maker sets out gloomy economic forecast

Bank of England rate maker sets out gloomy economic forecast

It is better for Bank to risk too much stimulus rather than too little, says Michael Saunders Coronavirus – latest updatesSee all our coronavirus coverageBritain risks a long period of low growth and
White House Won’t Issue Economic Forecast of Virus Downturn

White House Won’t Issue Economic Forecast of Virus Downturn

The White House won’t issue a formal economic forecast showing the extent of the U.S. downturn precipitated by the coronavirus pandemic, according to two people familiar with the matter.
'I don’t know how I’ll survive': the laid-off workers devastated by coronavirus cuts

'I don’t know how I’ll survive': the laid-off workers devastated by coronavirus cuts

More than 40m Americans have filed for unemployment in two months, and many are struggling to make ends meet Sandra Rivera Del Valle, a cabin cleaner with airline contractor Eulen America at Orlando
Third of Russians Don’t Believe in Virus Pandemic, Poll Shows

Third of Russians Don’t Believe in Virus Pandemic, Poll Shows

Nearly a third of Russians believe that the threat from the coronavirus crisis has been massively overblown, according to an opinion poll published on Thursday.
Job vacancies collapse has hit low-income workers hardest – ONS

Job vacancies collapse has hit low-income workers hardest – ONS

Office for National Statistics finds number of vacancies more than halved since lockdownCoronavirus – latest updatesSee all our coronavirus coverageLow-income workers have borne the brunt of a
Bickering and Confusion Stall $150 Billion Meant to Boost States

Bickering and Confusion Stall $150 Billion Meant to Boost States

Weeks after states began receiving billions in federal Cares Act money in response to the Covid-19 crisis, lawmakers are fighting for control of it, interest groups are pushing for a piece of it, and
U.S.-China Tension Only Set to Get Worse: ‘There Is No Off Ramp’

U.S.-China Tension Only Set to Get Worse: ‘There Is No Off Ramp’

With Donald Trump and Xi Jinping both focused on ramping up domestic support in the wake of the pandemic, the bottom is rapidly falling out of U.S.-China relations. And few in either Washington or
Kenya’s Central Bank Urges Credit Backstop as Bad Loan Risks Rise

Kenya’s Central Bank Urges Credit Backstop as Bad Loan Risks Rise

Kenya urgently needs to establish a credit-guarantee program to reduce the risk of lending to small- and mid-sized companies battered by the coronavirus pandemic, according to central bank Governor
Europe’s $826 Billion Recovery Fund Will Have Strings Attached

Europe’s $826 Billion Recovery Fund Will Have Strings Attached

The European Union’s top economic officials warned that the bloc’s 750 billion-euro ($826 billion) recovery package won’t give countries blank checks, as grants and loans will be conditional on the
Premier Li Says China Doesn’t Want Cold War, U.S. Decoupling

Premier Li Says China Doesn’t Want Cold War, U.S. Decoupling

China’s Premier Li Keqiang struck a conciliatory tone with the U.S., saying that the two sides should cooperate and respect each other’s interests as tensions escalate on many fronts.
Pandemic damages life prospects of all young Britons, report says

Pandemic damages life prospects of all young Britons, report says

Covid generation of under-25s less likely to fulfil potential, regardless of backgroundCoronavirus – latest updatesSee all our coronavirus coverageThe Covid generation faces a “dark age” of entrenched
Protecting and creating jobs must be a priority in any coronavirus recovery | Len McCluskey

Protecting and creating jobs must be a priority in any coronavirus recovery | Len McCluskey

Rishi Sunak must avoid free-market ideology. The government reducing support to workers too early would be disastrousCoronavirus – latest updatesSee all our coronavirus coverageProtecting one man’s
Protecting and creating jobs must be a priority in any coronavirus recovery | Len McCluskey

Protecting and creating jobs must be a priority in any coronavirus recovery | Len McCluskey

Rishi Sunak must avoid free-market ideology. The government reducing support to workers too early would be disastrousCoronavirus – latest updatesSee all our coronavirus coverageProtecting one man’s
Iran Warns U.S. on Naval Activity in the Gulf

Iran Warns U.S. on Naval Activity in the Gulf

Iran’s Islamic Revolutionary Guard Corps unveiled scores of new and upgraded defensive speedboats with a warning to the U.S. that it won’t shy away from challenging American naval power.
China Approves Hong Kong Security Legislation, Defying Trump

China Approves Hong Kong Security Legislation, Defying Trump

Chinese lawmakers approved a proposal for sweeping new national security legislation in Hong Kong, defying a threat by U.S. President Donald Trump to respond strongly to a measure that democracy
Covid-19 crisis pushes US jobless claims above 40m - as it happened

Covid-19 crisis pushes US jobless claims above 40m - as it happened

Rolling coverage of the latest economic and financial news, after US data showed another 2.1 million workers filed for unemployment benefits last weekUS job losses pass 40m as coronavirus crisis sees
Lack of international cooperation will hinder economic recovery | Howard Davies

Lack of international cooperation will hinder economic recovery | Howard Davies

There has been no consistency to the regulatory changes during the coronavirus crisisThe years after the 2007-09 global financial crisis were characterised by an orgy of rule-making by financial
Lack of international cooperation will hinder economic recovery | Howard Davies

Lack of international cooperation will hinder economic recovery | Howard Davies

There has been no consistency to the regulatory changes during the coronavirus crisisThe years after the 2007-09 global financial crisis were characterised by an orgy of rule-making by financial
Iran Picks Hardline Speaker to Preside Over Rouhani’s Final Year

Iran Picks Hardline Speaker to Preside Over Rouhani’s Final Year

Iranian lawmakers elected Mohammad Baqer Qalibaf as parliament’s next speaker, a return to high office for a hardliner who merged support for talks with the West with strident criticism of the more
Some Hong Kong Democrats Want Trump to Hammer City’s Economy

Some Hong Kong Democrats Want Trump to Hammer City’s Economy

Hong Kong’s most prominent pro-democracy advocates called on President Donald Trump to hit China hard, even to the point of revoking the city’s special trading status, over Beijing’s plan to impose