Page 42 - Global Economy

Post-Covid transport recast

Consumer interest must be protected if travel maps are redrawn

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

S&P predicts 4.7% slump in emerging market growth, warns of permanent scars

The firm said the downward GDP revisions mostly reflected the overall worsening pandemic for many emerging markets

World Coronavirus Dispatch: Global GDP growth estimated at negative 4.7%

Consumers in 26 countries fret about jobs, Australia's unemployment rate 13.3%, One in three South Korean patients improves with remdesivir and other pandemic-related news across the globe

Economic recovery to gather pace in H2-2020; stay negative on India: Nomura

While collectively, emerging market economies have entered their deepest recession in at least 60 years, Asia - particularly China and Northeast Asia - stand out as the best, Nomura says

Covid-19 left 147 mn unemployed, global consumption loss at $3.8 trn: Study

Decisions made in response to the pandemic could shape the future of humanity, says study published in journal PLOS ONE.

Covid-19: Global economy likely to contract by 5.2% in 2020, says report

The Asia Pacific region is unlikely to shake off the economic effects before the end of 2020, it added

Many countries may need debt restructuring after Covid-19 fallout: IMF

IMF's chief economist Gita Gopinath told an online event that there would be "much more persistent need for debt relief for the poorer nations of this world" given the pandemic.

Covid-19 impact: Fed policymakers see economy plateauing, risks ahead

Business owners are "nervous again," Ralph Bostic, president of the Atlanta Federal Reserve Bank, said in webcast remarks to the Tennessee Business Roundtable.

Oil prices steady as economic data overshadows coronavirus worries

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.

SoftBank Group shares reach highest level since 2000 on recovery hopes

The stock rose 4.6 per cent to 6,190 yen ($58) on Tuesday, the highest since March 2000.

Oil steady as hopeful economic data face spike in coronavirus cases

Brent crude settled at $43.10 a barrel, up 30 cents.

Oyo Hotels is slashing footprint and headcount in virus-hit Japan

The Indian start-up slashed its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, Chief Business Officer Ryota Tanozaki said.

Opec cuts output to lowest since 1991 as coronavirus slams oil demand

The Organization of Petroleum Exporting Countries cut production by 1.93 million barrels a day to 22.69 million a day last month, according to the survey.

Shell plans to slash value of its oil & gas assets by up to $22 billion

The writedown announcement came after Shell cut its forecast for energy prices into 2023 on expectations that sales will only recover slowly after the pandemic

Investors bullish on gold amid strong fundamentals, weak global economy

Despite falling imports into India and China, gold prices are moving up due to high investment and consumer demand in the US

World Coronavirus Dispatch: Did the disease appear earlier than thought?

From taking a look at potential holiday destinations, to a possible wave of bankruptcies in Russia

Legacy of coronavirus will be weak global inflation, say economists

Beyond being a symptom of recession, weak price growth or outright deflation also creates more headaches for the world's biggest central banks

Central banks have thrown trillions at Covid-19. What do they have left?

For central banks that already print money to buy assets, so-called helicopter drops could follow -- directly funding state spending with newly created money that's not offset by government IOU