IMF chief says pandemic will unleash worst recession since Great Depression
The pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
Index Ventures raises $2 billion for growth investments
Venture capital firm Index Ventures said on Thursday it had raised $2 billion for growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
Costco set to open new store in China’s Suzhou city
U.S. retail giant Costco will open a new store in China’s eastern city of Suzhou, near Shanghai, state media reported on Thursday.
Putin has no plans to talk oil with Trump, Saudis on Thursday: Kremlin
Russian President Putin has no plans as of Thursday to discuss oil markets with U.S. President Donald Trump and Saudi Arabia’s leadership, a Kremlin spokesman told Reuters.
Global stocks gain on hopes pandemic is nearing peak
Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
Exclusive: Airbnb restricts bookings on its platform in Britain
Home rental firm Airbnb blocked British bookings on its platform for the vast majority of customers on Thursday, allowing only key workers to stay in properties for as long as emergency government coronavirus restrictions are in place.
Factbox: OPEC+ talks face challenges over baseline for cuts and U.S. role
OPEC and its allies hold talks on Thursday to discuss plans for the biggest coordinated oil output cut in history but two hurdles remain: reaching a deal on the levels from which to make reductions and securing the participation of the United States.
S&P cuts Renault bonds to ‘junk’ and downgrades outlook on PSA
Credit rating agency Standard & Poor’s (S&P) delivered downgrades on Thursday to France’s top car companies Renault and PSA , cutting Renault’s bonds to ‘junk’ status due to the impact of the new coronavirus.
Dollar steadies ahead of U.S. jobs data
The dollar held firm on Thursday, but selling pressure may be in store later with U.S. jobless data due at 1230 GMT expected to show claims near record highs.
U.S. bank results to focus on looming loan losses during coronavirus
How much money will U.S. banks lose on loans because of the coronavirus recession?
