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World stocks slump on Fed comments, fears of second coronavirus wave

Agence France-Presse
Posted at May 14 07:51 AM

Fears of a second coronavirus wave and downbeat comments by the head of the US Federal Reserve helped push stocks lower on Wednesday. Read more »

Global creditors agree on debt relief for poor countries hit by COVID-19 pandemic

Andrea Shalal and Leigh Thomas, Reuters
Posted at Apr 15 10:20 PM

Major international creditors will relieve the world's poorest countries of debt payments this year to help them deal with the coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s, France announced on Tuesday. Read more »

ADB warns global cost of virus could top $4 trillion

Agence France-Presse
Posted at Apr 03 03:43 PM

The estimated impact is equivalent to nearly 5 percent of worldwide output based on a range of scenarios, but the lender said losses from "the worst pandemic in a century" could be higher.  Read more »

G20 ministers agree to keep markets open, tackle pandemic supply disruptions

Stephen Kalin, Andrea Shalal and David Lawder, Reuters
Posted at Mar 31 07:34 AM

Trade ministers from the Group of 20 major economies agreed on Monday to keep their markets open and ensure the continued flow of vital medical supplies, equipment and other essential goods as the world battles the deadly coronavirus pandemic. Read more »

G-20 leaders to hold emergency talks Thurs. on virus pandemic

Kyodo News
Posted at Mar 25 08:09 PM

Leaders of the Group of 20 major economies will hold an emergency teleconference on Thursday to discuss a coordinated global response to the novel coronavirus pandemic, according to its host Saudi Arabia. Read more »

Coronavirus pandemic battering global economy: surveys

Leigh Thomas and Lucia Mutikani, Reuters
Posted at Mar 25 08:27 AM

Business activity collapsed from Australia, Japan and Western Europe to the United States at a record pace in March as measures to contain the coronavirus pandemic hammer the world economy, cementing economists' views of a deep global recession. Read more »

Global stock markets rally on Fed boost

Roland Jackson, Agence France-Presse
Posted at Mar 24 08:54 PM

World stock and oil markets rallied Tuesday after the US Federal Reserve launched an unprecedented bond-buying plan, the latest salvo in a global fightback against the fallout from the deadly coronavirus outbreak. Read more »

G-20 finance chiefs hold emergency teleconference on COVID-19 pandemic

Kyodo News
Posted at Mar 23 08:34 PM

Finance ministers and central bank governors from the Group of 20 major economies held an emergency conference call Monday to discuss the economic impact of the coronavirus outbreak, a Japanese government official said. Read more »

Bankers and lawyers prepare for spate of company rescues as coronavirus bites

Abhinav Ramnarayan and Karin Strohecker, Reuters
Posted at Mar 17 10:47 PM

Law firms and banks are scrambling to retrain senior staff in restructuring so they can help dozens of companies looking to raise emergency funds and rearrange debts as the coronavirus pandemic eats into corporate cash. Read more »

World needs coordinated fiscal response to pandemic: IMF chief

Agence France-Presse
Posted at Mar 16 09:32 PM

Global governments must work together to provide massive spending as in the 2008 financial crisis to help the economy withstand the damage from the coronavirus pandemic, IMF chief Kristalina Georgieva said Monday. Read more »

Explosion in forex volatility due to coronavirus cheers some, bruises others

Saqib Iqbal Ahmed, Reuters
Posted at Mar 12 08:03 AM

Investors are scrambling to adjust their portfolios to a surge of volatility in foreign exchange markets, as the coronavirus outbreak and massive swings in oil prices roil currencies around the globe. Read more »

Bank of England cuts rates in shock move over coronavirus

David Milliken, Reuters
Posted at Mar 11 04:11 PM

The Bank of England unexpectedly cut interest rates by half a percentage point to 0.25 percent on Wednesday in a move to bolster Britain's economy against disruption caused by the coronavirus outbreak. Read more »

Jumbo jets fly near empty as coronavirus wallops airlines

David Gelles and Niraj Chokshi, The New York Times
Posted at Mar 06 10:32 AM

Empty jumbo jets arriving at deserted airports. Masked passengers disinfecting their own seats. Stone-faced airline executives huddling with President Donald Trump. With the coronavirus outbreak continuing to spread around the globe, the aviation industry is being jolted. Read more »

EXPLAINER: US benchmark yield slides below 1 percent. What does it mean?

Karen Brettell, Reuters
Posted at Mar 04 08:22 AM

Treasury yields are falling as investors anticipate a weak global economic growth outlook, which has been worsened by the coronavirus. Lower yields also reflect benign inflation as the Federal Reserve struggles to achieve its target of 2 percent price increases. Read more »

G7 to deploy all policy tools to combat coronavirus

Tetsushi Kajimoto and Takahiko Wada, Reuters
Posted at Mar 03 10:00 PM

Group of Seven finance officials said on Tuesday they would use all appropriate policy tools to achieve strong, sustainable global growth and safeguard against downside risks posed by the fast-spreading coronavirus. Read more »

China’s coronavirus freeze threatens global economy

Alexandra Stevenson, The New York Times
Posted at Mar 03 01:13 PM

If the coronavirus plunges the world into recession, China will be the biggest reason. Economists caution that its shutdown threatens the economies of Japan, South Korea, Europe and even the United States. Huge corporations like Apple, Microsoft, AB InBev and Pfizer have already seen an impact. Read more »

BOJ reassurance on coronavirus bolsters speculation of global policy action

Leika Kihara, Reuters
Posted at Mar 02 01:55 PM

Bank of Japan Governor Haruhiko Kuroda's comments, made in an emergency statement just days after a similar move by Federal Reserve Chair Jerome Powell, were welcomed by markets as a signal the world's biggest central banks were mustering a coordinated response to the crisis. Read more »

World prepares for coronavirus pandemic; global recession forecast

Stephanie Nebehay and Ryan Woo, Reuters
Updated as of Feb 28 11:17 AM

Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, countries started stockpiling medical equipment and investors took flight in expectation of a global recession.   Read more »

Coronavirus threatens global economy as WHO warns no country will be spared

Stephanie Nebehay, Michael Shields and Parisa Hafezi, Reuters
Posted at Feb 28 09:20 AM

With new infections reported around the world now surpassing those in mainland China, World Health Organization (WHO) Director General Tedros Adhanom Ghebreyesus said even rich nations should prepare. Read more »

Stocks, oil prices slide as virus sweeps globe

Agence France-Presse
Posted at Feb 26 09:51 PM

Stock markets and oil prices slid again Wednesday, as major companies began to count the financial cost of the spreading coronavirus. Read more »