World News

IMF projects a recession for sub-Saharan Africa in 2020

JOHANNESBURG (Reuters) – Sub-Saharan Africa’s gross domestic product is expected to contract 1.6% this year, compared 3.1% growth last year, as the coronavirus pandemic wrecks the region’s economies, the International Monetary Fund said on Tuesday . Various African governments have imposed lockdowns and curfews to curb the spread of the coronavirus, but the restrictions are […]

World News

Europe, LatAm to lead 2020 emerging economies’ downturn; Asia to limit damage, IMF says

By Rodrigo Campos NEW YORK (Reuters) – Emerging and developing economies are likely to contract about 1% this year as the coronavirus pandemic disrupts economic activity across the world, the International Monetary Fund said on Tuesday, with Asia ticking up to slightly offset the sharp declines expected in emerging Europe and Latin America. In its […]

World News

Cisco offers big payment deferrals until 2021 as companies seek remote-work tools

By Paresh Dave OAKLAND, California (Reuters) – Cisco Systems Inc <CSCO.O> on Tuesday launched a $2.5 billion financing program that lets its customers defer 95% of payments until 2021, giving companies additional leeway at time when some are facing a cash crunch but also need more remote-work tools. As the coronavirus forces many businesses to […]

World News

Dash for cash as most investors expect drawn-out recovery: BofA survey

LONDON (Reuters) – Investors have been hoarding cash at a rate not seen since the immediate aftermath of the 9/11 attacks of 2001, BofA’s April fund manager survey showed, as the coronavirus roiled global financial markets. With coronavirus cases fast approaching the 2 million mark globally, and many countries extending lockdown periods to contain the […]

World News

Britain’s Next re-opens online before maxing out daily limit

By James Davey LONDON (Reuters) – British clothing retailer Next <NXT.L> hit a self-imposed daily limit within hours of re-opening its online business on Tuesday, indicating consumer demand during the coronavirus lockdown. Government guidelines encouraged online operations to remain open and retailers such as Marks & Spencer <MKS.L> and John Lewis have kept theirs going, […]

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China’s trade slump eases in March, but pandemic set to deepen export downturn

BEIJING (Reuters) – The plunge in China’s exports and imports eased in March as factories resumed production, but shipments are set to shrink sharply over coming months as the coronavirus crisis shuts down many economies and puts the brakes on a near-term recovery. Financial markets breathed a sigh of relief after customs data on Tuesday […]