A lone passenger leaves a Delta Airlines counter at Reagan National airport. Reuters
With more than half of humanity asked to stay at home and economic activity grinding to a virtual standstill in many places, the havoc wreaked by COVID-19 coronavirus continues unabated.
The deadly COVID-19 pandemic has shaken up the world on both the health and economic fronts.
The Labor Department's closely watched monthly employment report on Friday could bolster economists' dire predictions that it would take several years to recover from the economic meltdown. Consumer confidence, manufacturing and services industries are also stabilizing, though at low levels, hopeful signs that the worst was over.
COVID-19 is posing the greatest test ever to humanity on both the health and economic fronts. Confirmed coronavirus cases have approached one million around the world as Europe reels from the pandemic and the United States has reported record numbers of people out of work.
Global stocks fell on Friday, with emerging market and Asia shares hardest hit, as a recent rout in global bond markets spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
G20 finance ministers and central bankers were meeting on Friday to align plans to relaunch the global economy after the coronavirus pandemic and to limit the harm to the worst-off nations shut out of the race for vaccines.
Volkswagen said on Friday it made better than expected profit of 8.8 billion euros ($10.7 billion) after tax in 2020 despite the pandemic. The world’s No. 2 automaker said the rapid recovery of China,