Lockdown imposed to slow the spread of the coronavirus disease

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Optician Gregory Klein is seen in his closed shop during a lockdown imposed to slow the spread of the coronavirus disease (COVID-19), in Stiring-Wendel, France, April 14, 2020. Picture taken April 14, 2020. REUTERS/Christian Hartmann

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U.S. recession chances now at 80% despite Fed emergency moves: Reuters poll

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By Shrutee Sarkar BENGALURU (Reuters) – The coronavirus crisis has almost certainly ended the longest U.S. expansion on record and pushed the economy into the start of a short slump, according to analysts polled by Reuters who gave a median 80% chance of recession this year. The virus and COVID-19, the disease it causes, has […]
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Large U.S. banks to take small business loan applications next week: Mnuchin

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WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far. Mnuchin told Fox Business Network in an interview there was […]
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Huawei chip unit orders up more domestic production as U.S. restrictions loom: sources

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By Josh Horwitz SHANGHAI (Reuters) – Huawei Technologies Co Ltd is gradually shifting production of chips designed in-house away from Taiwan Semiconductor Manufacturing Co Ltd (TSMC) and towards a mainland Chinese firm in preparation for more U.S. restrictions, sources familiar with the matter said. The move towards Shanghai-based Semiconductor Manufacturing International Corp (SMIC) comes as […]