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Marks & Spencer notes change in customers preferences during lockdown 05/22/2020

EC sets to lower use of pesticides and fertilizers in EU in 10 years 05/21/2020

Over 90% of SMEs in China resume work in May 05/22/2020

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Economics

Global Economy Not To Recover As Soon As Was Previously Expected: IMF

According to the head of the Managing Director of the International Monetary Fund,m Kristalina Georgieva, a much longer time period than previously expected for a complete recovery of the global economy from the recession induced by the outbreak of the novel coronavirus pandemic will be required....

Japanese Economy Has Entered A Technical Recession With Worse Expected

The coronavirus pandemic has pushed the Japanese economy into a recession and analysts predict that things are going to get worse for the economy. According to government data released Monday, in the January to March quarter, there was a 0.9 per cent shrinking of the third largest...

US to cut shale oil production by 2.5% in June - EIA

Shale oil production in the largest oil and gas producing regions of the United States in June will decrease compared with May by 197 thousand barrels per day, or 2.5%, to 7.822 million barrels per day, according to the Energy Information Administration (EIA) of the country's energy ministry. The...

Trump Issues Fresh Threats Of Taxes On US Firms That Manufacture Abroad

A fresh threat of imposing new taxes on American companies that manufacture goods outside of the United States was issued by the US president Donald Trump on Thursday which, according to analysts, was another possible move by the US administration to woo away supply chains that are based in China...

FedEx limits number of parcels from retailers due to COVID-19

American FedEx Corp, one of the world's largest transport and logistics companies, has limited the number of packages that Kohl's Corp and about twenty other retailers can send from stores, in an attempt to reduce the load on its network during the coronavirus pandemic, reports The Wall Street...

The Bank of Mexico lowers interbank rate for the third time in 2020

The Board of Governors of the Bank of Mexico announced the next market-expected decrease in the interbank interest rate to 5.5% amid the unfolding crisis caused by the COVID-19 pandemic. “Monetary policy and the economy as a whole are facing serious challenges. Given the expected negative effects...

Survey Revealed Longer COVID-19 Impact On The U.S. Small Business Sector

Despite the uncertainty, the small and medium sized U.S. corporate sector seem to show “surprising resiliency”. Veem is a “global payments network” based out of San Francisco. It has conducted a survey wherein 81% of the small companies in the U.S. are expecting their business to face the effects...

Over 300 Leaders From 6 Continents Call On IMF And World Bank To Cancel Debt Of Poor Nations

The International Monetary Fund and World Bank were urged by more than 300 lawmakers from various parts of the world on Wednesday to forgo the debt of the poorest countries as a measure to help out such countries because of the novel coronavirus pandemic. The global financial institutions...

US Energy Department: Oil reserves growth will gain speed in Q2, slowdown expected later

The US Department of Energy expects accelerated growth in world oil reserves in the second quarter to 11.5 million barrels per day from 6.6 million barrels per day in the first quarter, further reducing them, according to a monthly short-term forecast by the US Energy Information Administration...

Calls For Fresh Talks On Trade With US Made By Chinese Advisers, Says Global Times

A report published in a state-controlled tabloid citing sources close to the Chinese government have claimed that there is a rising chorus of hawkish voices in the country that are demanding the Beijing make a review of its so called phase 1 trade deal with the United States and some of those...