Africa’s web of creditors complicates coronavirus debt relief
Africa is crying out for debt relief to weather a perfect storm of coronavirus, plummeting oil and commodity prices, mounting budget deficits and weaker currencies.
Oil plunges more than 5% despite stimulus efforts
Oil prices plunged more than 5% on Friday and were on track for a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.
Forex volatility to make providers hike prices: Walmart de Mexico
Walmart de Mexico said on Friday that foreign exchange fluctuations will make its providers increase some of their prices, pointing to the depreciation of the peso and other currencies during the coronavirus crisis.
U.S. regulators give banks relief on accounting standard, derivatives rule
U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic.
Apple works with White House to release ‘COVID-19’ app, website
Apple Inc and the White House said on Friday that the iPhone maker worked with the Trump administration and federal agencies to release an app and website that will direct users to guidance from the Centers for Disease Control on the disease caused by …
Stocks fall as virus uncertainty lingers; dollar set for weekly loss
Stocks across the globe fell on Friday after a historic three-day run-up, with indexes poised to close the month and quarter with starkly negative performances.
Wall Street slumps after three-day rally as virus threat intensifies
Doubts about the fate of the U.S. economy in the face of the coronavirus hammered Wall Street again on Friday, halting its best three-day bounce in almost a century as the number of cases across the country skyrocketed.
Virgin Atlantic set to ask for state aid: FT
UK-based airline Virgin Atlantic will ask the British government for a package of commercial loans and guarantees worth hundreds of millions of pounds, the Financial Times reported https://www.ft.com/content/c2d817d9-8a73-4bb8-89e7-e5ca67ed41d7 on Frid…
U.S. consumer sentiment near three-and-a-half-year low, spending tepid
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of a deep recession.
H&M starts protective face mask production at Chinese supplier
Sweden’s H&M, the world’s second-biggest fashion retailer, said on Friday it had started production of protective face masks for hospital staff and would ship the first batches to Spain and Italy.
