Category: News

About 400,000 airline workers have been fired, furloughed or told they may lose their jobs due to the coronavirus, according to Bloomberg calculations. The aviation industry has suffered more than most as the pandemic destroys ticket sales and strips companies of cash. Airlines the world over have drastically cut back on flights due to border...

Stocks in Asia retreated after an unexpected rise in American jobless claims rekindled concern a recovery in the world’s largest economy has stalled. The dollar extended this week’s slide. Shares in China, Hong Kong and Australia bore the brunt of losses. Intel Corp.’s warning on a production delay also weighed on sentiment after triggering an...

European and U.S. equity futures were mixed on Thursday along with Asian stocks amid concern over renewed Sino-U.S. tensions and the uncertainty over the timing of a new American stimulus package. The dollar dipped to near the weakest since March. Euro Stoxx 50 contracts nudged higher, while those tied to the S&P 500 were flat...

Temporary basic income payments could stem the spread of the coronavirus pandemic by allowing the world’s poorest people to stay at home, according to a new report from the United Nations Development Programme. A six-month guaranteed handout for 2.7 billion living below or just above the poverty line in 132 developing countries would cost around...

Stocks traded mixed on Wednesday amid uncertainty over the timing of a fresh U.S. stimulus program. The dollar extended losses, while gold soared above $1,850 an ounce. Shares climbed in China and Hong Kong, while those in Japan edged lower. Australian shares underperformed as the country recorded its worst day of virus cases. Futures on...

Australia’s government will pump a further A$20 billion ($14 billion) into supporting the jobs market as a surge in coronavirus infections threatens to prolong the nation’s first recession in almost three decades. The government’s signature wage subsidy program, which is currently supporting about 3.5 million workers, will be extended by six months until the end...

Global stocks began the week in mixed fashion as investors braced for a ramp up in earnings reports and as the coronavirus continued to spread. The dollar pushed higher with Treasuries. Shares slipped in Australia and South Korea, and were flat in Japan and Hong Kong on below-average volumes. U.S. futures retreated and European contracts...

Global airline passenger demand won’t recover to pre-coronavirus pandemic levels until the end of 2023, and only then if effective vaccines and medicines are available, according to Moody’s Investors Service. The recovery for airlines and airports will be largely aligned, followed by aircraft lessors as carriers return fleets to service, Moody’s analysts including Jonathan Root wrote...

Australia posted its largest monthly jobs gain on record in June as the economy reopened from its Covid-19 lockdown, while a surge in people seeking work triggered a jump in the unemployment rate. Employers added 210,800 roles, more than double estimates, after May’s job losses were revised higher to 264,100, data from the statistics bureau showed Thursday....

Singapore’s economic situation remains dire amid the coronavirus pandemic, impacted by what could be lasting shifts in global demand and to supply chains, according to the city-state’s central bank. “Even if subsequent waves of infection are more limited” globally, it’s not clear whether confidence in resuming normal economic activity will be restored, Ravi Menon, managing...