World - Global Business & Economy

South Korea cuts rates, flags worst year for economy since 1998

South Korea cuts rates, flags worst year for economy since 1998

South Korea's central bank cut interest rates to a record low on Thursday as it warned the coronavirus pandemic would be worse for Asia's fourth-largest...

BoE’s Andrew Bailey: UK risks ‘longer and harder recovery’

BoE’s Andrew Bailey: UK risks ‘longer and harder recovery’

"The Bank stands ready to do whatever we can to support UK households and businesses during this period of economic disruption and get through...

US outlook highly uncertain, businesses ‘pessimistic’: Fed

US outlook highly uncertain, businesses ‘pessimistic’: Fed

The survey showed activity in the world's largest economy continued to fall sharply in recent weeks in all regions, with auto sales falling sharply...

Renault-Nissan-Mitsubishi deepen their alliance

Renault-Nissan-Mitsubishi deepen their alliance

Struggling automakers Renault, Nissan and Mitsubishi unveiled Wednesday a plan to deepen their alliance, a top global producer of cars, that only months ago seemed...

Brazil loses over 1m jobs in two months

Brazil loses over 1m jobs in two months

Brazil lost over 1 million jobs in March and April, figures on Wednesday showed, wiping out job growth in the first two months of the...

Decline in China’s industrial profits slows in April, outlook still gloomy

Decline in China’s industrial profits slows in April, outlook still gloomy

Profits at China's industrial firms fell at a slower pace in April, helped by improvements in automobiles and electronics, but the damage wrought by the...

Air France to cut 40 percent of domestic flights after bailout

Air France to cut 40 percent of domestic flights after bailout

Air France-KLM will slash 40 percent of its French domestic flights by next year in exchange for receiving seven billion euros ($7.7 billion) in emergency...

Japan outlines fresh stimulus package for virus-hit economy

Japan outlines fresh stimulus package for virus-hit economy

Japan announced fresh stimulus plans worth nearly $300 billion on Wednesday to pep up the economy after the coronavirus pandemic tipped the country into recession....

US consumer confidence index steady in May at 86.6: survey

US consumer confidence index steady in May at 86.6: survey

Consumers were gloomy about the current climate but were optimistic about the future: the survey's Present Situation Index fell to 71.1 from 73.0 in...

Israel picks local firm over Chinese for desalination plant

Israel picks local firm over Chinese for desalination plant

Israeli authorities on Tuesday named a local company as the winning bidder for a multi-million dollar desalination plant contract, beating out Chinese competition amid reports...

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