German carmaker Bayerische Motoren Werke AG (BMW) announced its intention to cut 6,000 jobs due to the negative consequences of the COVID-19 coronavirus pandemic. Under the plan, the company, in addition to dismissals, will offer employees an opportunity of earlier retirement, and will also not...

By the end of June, American shale companies will return to the market about 500 thousand barrels of oil per day, which is about a quarter of the volume of US production that fell due to a pandemic, Reuters reports citing sources. "It is expected that US shale companies will restore production of...

According to the most recent assessment of the Paris based think tank Organisation for Economic Cooperation and Development (OECD), the biggest peace-time downturn in a century will hit the global economy because of the ongoing novel coronavirus pandemic before it is able to recover in the next...

Lending patterns saw a massive jumps, while lenders set aside amounts to battle with future loss. The U.S. bank saw the profits drop by “69.6% to $18.5 billion” in 2020 Q1 in comparison to the previous year. This drop has been due to the economic impact of COVID-19 pandemic, revealed banking...

By the end of the year, the number of poor people in Italy may increase by a million people due to the coronavirus pandemic, the Coldiretti Association of Agricultural Producers reports. The association analyzed growth of requests for food assistance from the European Union, which is distributed by...

Millions of losses and complete uncertainty about tomorrow - this is how Indian businessmen describe the result of a three-month isolation regime in the country introduced in connection with the nocel coronavirus pandemic. An isolation regime was introduced in India in late March, when there were...

Children in the United Kingdom will soon get lessons about debt, spending and how prices are affected by supply and demand from Dennis the Menace.   A 12-lesson course about financial literacy will be delivered by the Beano rascal and several comic book friends who have teamed up with the...

Greece is "ready to welcome tourists" in complete safety after the coronavirus lockdown, said the Greek Prime Minister Kyriakos Mitsotakis said on Saturday. He added that the impact of the pandemic on the tourism industry of the country will be significant.      "Greek tourism is...

The Paris based policy forum Organisation for Economic Cooperation and Development (OECD) has predicted that the global economy will contract by 6 per cent in the best-case scenario because of the economic impact of the novel coronavirus pandemic.   The OECD said that the downturn for the...