Pelosi rejects McConnell emergency coronavirus spending plan, urges Fed to widen loans
U.S. House Speaker Nancy Pelosi on Tuesday rejected Senate Majority Leader Mitch McConnell’s proposed emergency spending plan to help small businesses cope with the coronavirus outbreak, saying it did not do enough to help hospitals or state and local …
Trump oil deal raises question for Mexico: At what cost?
Mexico’s president has incurred a debt with his U.S. counterpart Donald Trump by accepting U.S. help to end a standoff over global oil cuts, triggering concern the American will in return make the country pay on issues like migration and security.
BOJ’s Kuroda told G7 ready to ease policy to combat coronavirus fallout
Bank of Japan Governor Haruhiko Kuroda said on Tuesday he explained to his G7 counterparts that the central bank would not hesitate easing monetary policy further depending on how the coronavirus pandemic affects the country’s economy.
Amazon ordered to limit French trade to essential goods
Amazon will have to limit its deliveries in France to essential goods like food and medical supplies while it carries out a more thorough assessment of the risk of coronavirus contagion at its warehouses, a French court ruled on Tuesday.
G7 agreed on need to aid emerging economies battling with virus: Japan’s Aso
G7 finance leaders agreed on Tuesday on the need to provide financial and technical assistance to emerging economies battling with the fallout from the coronavirus pandemic, Japanese Finance Minister Taro Aso said.
Hyundai first to restart Czech production, others still shut
Hyundai Motor Co’s Czech car plant was the first in the central European country to get back to work on Tuesday after a three-week outage, potentially easing some of the strain on the hard-hit economy.
Bombardier to resume some operations in UK
Bombardier Inc said on Tuesday it plans to resume production at some of its facilities in the United Kingdom, which had been halted in March due to government-mandated social distancing to battle the coronavirus pandemic.
Debt levels expected to sharply increase in 2020, stabilize as economies recover: IMF
Global debt is expected to increase significantly over the next year, the top economist of the International Monetary Fund said on Tuesday, while moratoriums on debt payments and debt restructuring may need to be continued as the world economy emerges …
Global airlines’ estimated coronavirus losses rise to $314 billion: IATA
Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes.
Oil slides as producer cuts fail to banish demand fears
Oil prices plunged again on Tuesday as investors were unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic.
