ECB sees big 2020 recession, partial rebound next year
The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.
ECB expands pandemic support to over $1.5 trillion
The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns due to the coronavirus pandemic.
Statement from the ECB following policy meeting
Following is the statement from the European Central Bank following its policy meeting.
LVMH propels Arnault scion to head up Tag Heuer watches
LVMH said on Thursday Frederic Arnault, one of the younger sons of the luxury goods group’s billionaire boss, would take over running watch brand Tag Heuer, joining his siblings in taking on bigger roles within the conglomerate.
Germany will require all petrol stations to provide electric car charging
Germany said it will oblige all petrol stations to offer electric car charging to help remove refuelling concerns and boost consumer demand for the vehicles as part of its 130 billion euro ($146 billion) economic recovery plan.
S&P 500, Nasdaq slide after rallying on recovery optimism
The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March.
Oil drops on doubts over output cuts, swelling U.S. fuel inventories
Oil prices fell on Thursday on doubts over the ability of top crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.
American Airlines soars on news it will boost U.S. flights in July
American Airlines Group Inc shares jumped by 25% after it said Thursday it will significantly boost its U.S. flight schedule next month after dramatic reductions caused by the coronavirus pandemic, flying more than 55% of its July 2019 domestic capaci…
Fiat-Chrysler’s state-backed loan crucial for Italy’s economy-Intesa CEO says
A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) , financed by Intesa Sanpaolo , is crucial in terms of safeguarding Italy’s economy, the head of the country’s biggest retail bank said.
EBay raises forecasts on online boom, shares hit record high
EBay Inc raised its current-quarter revenue and profit forecasts on Thursday, as people stuck at home due to the COVID-19 pandemic ordered more through its online platform, sending its shares to a record high.
