People walk next to residential buildings in the coal city

Telefonica, TIM plan joint bid for Oi’s mobile business in Brazil

By Gabriela Mello BRASILIA (Reuters) – Shares in Telefonica Brasil SA <VIVT4.SA> and TIM Participações SA <TIMP3.SA> rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of bankrupt Brazilian carrier Oi SA <OIBR3.SA>. The move comes months after the struggling carrier, which filed for […]

U.S. construction spending increases to record high

WASHINGTON, (Reuters) – U.S. construction spending increased by the most in nearly two years in January, but the upbeat news is likely to be overshadowed by financial market fears that the fast-spreading coronavirus could tip the economy into recession. The Commerce Department said on Monday that construction spending surged 1.8% to a record high of […]

Coronavirus pandemic to shrink German economy by record 9.8% in second quarter

By Michelle Martin and Joseph Nasr BERLIN (Reuters) – Germany’s economy, Europe’s largest, will probably shrink by 9.8% in the second quarter, its biggest decline since records began in 1970, due to measures imposed to slow the spread of the novel coronavirus, the country’s leading think tanks said on Wednesday. That would be more than […]