Christine Lagarde speaks during a press conference in Washington on Thursday. Agence France-Presse
The International Monetary Fund on Tuesday lowered its forecast for global growth this year and next, warning that further US-China tariffs or a disorderly exit for Britain from the European union could further slow growth,
Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, $12 billion loan programme with the lender.
As the United Kingdom grapples with its Brexit drama, the uncertainty around its decision to leave the EU persuaded Dale Carr to close down her Berlin shop selling British goods. The 67-year-old from Sheffield and her husband Robin in 1996 opened “Broken English”, a shop selling British goods to homesick expats and Germans with a taste for UK treats in the trendy district of Kreuzberg.
Equity markets climbed on Thursday as more businesses returned to work and as a 750-billion-euro stimulus plan in Europe lifted regional stock indices and the euro, but gold rebounded on deteriorating US-China relations.
The number of workers filing for jobless benefits since the coronavirus arrived in the United States passed 40 million on Thursday while manufactured goods sales plunged even as signs emerged that people are returning to work.
The International Labour Organisation, in a new look at the impact of the pandemic on jobs, says that work hours equivalent to 305 million full-time jobs have been lost due to the COVID-19 crisis.
The COVID-19 outbreak has devastated the global aviation sector, with passenger numbers slumping during lockdown measures as air travel demand evaporates. EasyJet follows competitors British Airways, Ryanair and Virgin Atlantic, which have all slashed staff numbers to save costs.