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The Financial Express

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UK economy slumps by record 10pc in 2020

UK economy slumps by record 10pc in 2020

-- 2021-02-12 18:20:04

Britain's coronavirus-ravaged economy suffered its biggest crash in output in more than 300 years in 2020 when it slumped by 9.9 per cent, but it avoided heading back towards recession at the end of t...

IMF's own currency likely to get G7 backing

IMF's own currency likely to get G7 backing

Reuters 2021-02-12 09:54:02

Group of Seven finance ministers are likely to back a new allocation of the International Monetary Fund’s own currency, or special drawing rights, at an online meeting on Friday to help low-inco...

COVID, climate, tax feature at first post-Trump G7 talks

COVID, climate, tax feature at first post-Trump G7 talks

Reuters 2021-02-10 23:17:49

The new administration of US President Joe Biden joins international talks on the global economy this week with other rich nations expecting a decisive break from the "America First" nationalism of...

Pandemic job pain fell unevenly on minorities, the poor

Pandemic job pain fell unevenly on minorities, the poor

-- 2021-02-10 10:08:44

Black workers, women and others in low-paying jobs were more likely to become unemployed during the pandemic, faced greater health risks if they did keep working and are being pushed out of the labour...

Emerging market central bank rate cuts fade further

Emerging market central bank rate cuts fade further

Reuters 2021-02-09 10:02:04

Emerging market central banks delivered just one interest rate cut in December, signalling the fading out of an easing cycle that had started in 2019 and had exceeded the cuts during the 2008 financia...

Bitcoin surges after Tesla move

Bitcoin surges after Tesla move

-- 2021-02-09 09:51:17

Major US stock indexes registered all-time closing highs on Monday amid optimism over US fiscal stimulus, and bitcoin jumped after Tesla revealed it had purchased $1.5 billion of the cryptocurrency an...

China's garment industry sees lower revenues in 2020

China's garment industry sees lower revenues in 2020

-- 2021-02-06 14:46:47

China's garment industry registered lower profits and revenue in 2020, data from the Ministry of Industry and Information Technology has shown. Profits of the country's major garment enterprises came...

Nigerian woman set to become WTO’s first female leader

Nigerian woman set to become WTO’s first female leader

-- 2021-02-06 13:49:40

Nigeria’s Ngozi Okonjo-Iweala was poised to become the first African and first woman to lead the embattled World Trade Organization (WTO) after a South Korean rival withdrew on Friday and the Un...

GameStop shares rise after Robinhood lifts trading curbs

GameStop shares rise after Robinhood lifts trading curbs

-- 2021-02-06 12:38:55

Shares of GameStop and other companies caught in the recent social media-fueled trading frenzy bounced on Friday, after online broker Robinhood lifted all the buying curbs imposed at the apex of the b...

Investment decline in productive assets spells trouble for poorer nations

Investment decline in productive assets spells trouble for poorer nations

UNB 2021-02-05 22:56:53

Although developing countries attracted a record share of global foreign direct investment (FDI) in 2020, finance for infrastructure and productive sectors fell significantly, weakening their COVID-19...

India says restructuring export basket a must for growth similar to Bangladesh

India says restructuring export basket a must for growth similar to Bangladesh

-- 2021-02-05 18:31:53

India needs to restructure its export basket on lines of Bangladesh for achieving achieve high growth in exports, says Economic Survey, an annual document of India's Ministry of Finance. It adds that...

Lufthansa raises 1.6b euros to repay German govt aid

Lufthansa raises 1.6b euros to repay German govt aid

-- 2021-02-05 14:32:41

German airline Lufthansa said it had issued a 1.6 billion euro ($1.92 billion) bond on Thursday, money that will be used to repay part of a bailout given last year by state lender KfW to help it cope...

Vaccine passports: Towards normality or problem?

Vaccine passports: Towards normality or problem?

-- 2021-02-05 13:24:57

Governments and developers around the world are exploring the potential use of “vaccine passports” as a way of reopening the economy by identifying those protected against the coronavirus....

COVID-19 vaccination delay could cost EU economy 90b euros: Study

COVID-19 vaccination delay could cost EU economy 90b euros: Study

Reuters 2021-02-03 18:45:01

The European Union faces a potential 90 billion euro ($108.19 billion) hit to its economy this year unless it catches up with the pace of COVID-19 vaccinations in other regions, a study showed on Wedn...

GameStop shares halve

GameStop shares halve

-- 2021-02-03 11:23:32

GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now....

Myanmar coup to dampen US trade, impact footwear companies

Myanmar coup to dampen US trade, impact footwear companies

Reuters 2021-02-02 12:08:10

The coup in Myanmar is expected to dampen the interest of US and Western companies in investing in Myanmar, and may prompt some big US companies to pull out, trade experts and analysts said on Monday....

US economy set for faster 2021 rebound

US economy set for faster 2021 rebound

REUTERS 2021-02-02 10:19:06

The US economy will grow 4.6 per cent in 2021 after contracting 3.5 per cent in 2020, the Congressional Budget Office said on Monday in a rosier forecast that could strengthen Republican resistance to...

US economy set for faster 2021 rebound

US economy set for faster 2021 rebound

REUTERS 2021-02-02 10:19:06

The US economy will grow 4.6 per cent in 2021 after contracting 3.5 per cent in 2020, the Congressional Budget Office said on Monday in a rosier forecast that could strengthen Republican resistance to...

Argentina seeks $44b IMF deal to repay debt

Argentina seeks $44b IMF deal to repay debt

Reuters 2021-01-31 10:58:25

Argentina’s Economy Minister Martin Guzman is pushing for a deal by May with the International Monetary Fund to repay $44 billion in debt, the Wall Street Journal reported on Saturday, citing hi...

Robinhood raises $1.0b of fresh funding from investors

Robinhood raises $1.0b of fresh funding from investors

Reuters 2021-01-30 12:47:33

Online broker Robinhood has raised more than $1 billion of fresh capital from existing investors, having been strained by high volumes of trading this week and raising the ire of customers, celebritie...

Washington ready to engage on WTO reform

Washington ready to engage on WTO reform

Reuters 2021-01-30 11:41:49

The United States is committed to “positive, constructive and active engagement” with all members of the World Trade Organization on reforming the body and is actively considering who to c...

Customers sue Robinhood Financial

Customers sue Robinhood Financial

Reuters 2021-01-29 12:45:33

Two customers sued Robinhood Financial on Thursday over the online brokerage’s trading ban in GameStop and other high-flying stocks caught up in a retail buying frenzy that forced some prominent...

Sustainable fund assets hit record $1.7tn in 2020

Sustainable fund assets hit record $1.7tn in 2020

-- 2021-01-29 12:24:20

Demand to invest in funds which focus on environmental, social and governance (ESG) issues jumped in 2020, driving assets under management up 29 per cent in the fourth quarter to nearly $1.7 trillion,...

"GameStop effect" could ripple further: Market analysts

"GameStop effect" could ripple further: Market analysts

REUTERS 2021-01-29 11:41:01

The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop Corp may pose a risk to dozens of other stocks and potentially create a heada...

Facebook shuts popular stock trading group

Facebook shuts popular stock trading group

Reuters 2021-01-29 11:31:00

Facebook took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder on Thursday described as backlash for conversations buoying shares of GameStop Corp and o...

Junior bankers feel left behind during pandemic-era boom

Junior bankers feel left behind during pandemic-era boom

-- 2021-01-28 13:07:15

As top investment bankers orchestrated major deals through Zoom during the coronavirus (Covid-19) pandemic, junior staffers say they were often sitting home, bored and alone, discouraged by an industr...

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

Global remittance flows can rebound to pre-pandemic levels in 2021: Study

-- 2021-01-27 19:59:32

Money transfers from migrants overseas could rebound to pre-pandemic levels, upending a World Bank forecast of a further slowdown in remittances to developing countries in 2021, according to a new stu...

Global economy threatened by Covid-19 resurgence

Global economy threatened by Covid-19 resurgence

-- 2021-01-27 10:54:26

There is a high risk of a resurgence in coronavirus (Covid-19) infections derailing the world economy this year, according to a firm majority of economists in a Reuters poll, who forecast global GDP w...

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

IMF lifts global growth forecast for 2021, still sees ‘exceptional uncertainty’

-- 2021-01-26 19:39:45

The International Monetary Fund (IMF) on Tuesday raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn in 2020 would be nearly a full percentage point less...

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

It could take decade for poor to recover Covid-induced economic losses, Oxfam says

SM Najmus Sakib 2021-01-25 15:50:06

A new report by the Oxfam said on Monday that it could take more than a decade for the poor people across the globe to recover from the economic losses caused by the coronavirus pandemic. In its...