Bombardier Inc said on Tuesday it plans to resume production at some of its facilities in the United Kingdom, which had been halted in March due to government-mandated social distancing to battle the coronavirus pandemic.
The Spanish government said on Tuesday the International Monetary Fund's forecast of an 8% economic slump this year due to the coronavirus pandemic, to be followed by a recovery in 2021, confirmed the view that the crisis would be intense, but short-lived.
Global debt is expected to increase significantly over the next year, the top economist of the International Monetary Fund said on Tuesday, while moratoriums on debt payments and debt restructuring may need to be continued as the world economy emerges from the coronavirus pandemic lockdown.
U.S. stock markets opened more than 1% higher on Tuesday as the quarterly earnings season kicked off with JPMorgan and Johnson & Johnson giving a first glimpse of the coronavirus outbreak's impact on corporate America.
The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said.
U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic.
Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes.
Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with the coronavirus pandemic hammering demand.
The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction levels expected by the market, leading to oil prices remaining stagnant, the head of the Japanese petroleum industry said.
Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is 'historic yet insufficient,' adding that no deal would be enough to offset the sharp drop in demand already occurring.
Big bank stocks in India are falling like nine pins. Some investors believe that the gloominess might be overdone.
Global equities weakened on Monday as investors braced for more indications of economic damage from the coronavirus pandemic while oil prices rose in choppy trade following a landmark deal by OPEC and its allies to cut output.
Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with the coronavirus pandemic hammering demand.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus and concerns about its spread.
Oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cuts will not be sufficient to head off oversupply as the coronavirus pandemic hammers demand.