“In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could,” observed the late economist Rudi Dornbusch.
The pan-European STOXX 600 index rose 2.7% at 0716 GMT - hitting its highest in almost a month, with governors of several hard-hit U.S. states pointing to tentative signs the outbreak might be starting to plateau.
The report was the latest indication of the headwinds to the American economy caused by the pandemic, which has slammed major industries, undermining economic growth, while causing about 26 million people to file new claims for jobless benefits since mid-March.
The British aero-engine maker jumped 15.4% after losing more than half its value this year, as it secured an extra 1.5 billion pounds ($1.8 billion) in reserves, even though it suspended its dividend for the first time since 1987.
The amalgamation of 10 public sector banks into four has been working smoothly for the past two months without any heartburns as the employee benefit schemes have been extended to all the employees, said a top official of All India Bank Employees’ Association (AIBEA).
The CEOs shared lessons learned and best practices in ensuring the safety of employees, safeguarding business continuity, and building resilience as they continue responding to COVID-19.
“The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden,” the ratings agency said in a statement.
US stocks joined a worldwide downdraft on Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
The government of Sharjah, the third largest of the United Arab Emirates, started marketing US dollar-denominated 30-year Formosa bonds on Tuesday at about 4.375%, a document showed.