Coronavirus contagion spawns climate of panic on share markets
4 years, 10 months ago

Coronavirus contagion spawns climate of panic on share markets

ABC  

It's the word the world's top health authorities dare not utter. The coronavirus COVID-19, once contained in China's industrial heartland, has now spread to Europe and the Middle East, spawning a climate of panic that threatens to undermine not just financial markets, but the global economy. With so much debt issued at record-low interest rates, it has become almost impossible for policymakers to even consider raising interest rates in good times, for fear of creating a debt default avalanche. Add in President Donald Trump's escalating trade war with China, and the US Fed was forced to reverse tack, cutting interest rates twice last year and restoring Wall Street's record-breaking decade-long bull run. Debt the death of coronavirus-affected businesses Even under ordinary circumstances, the outbreak of a major global health pandemic such as this would hit commerce and industry hard and rattle financial markets.

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History of this topic

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates
1 year, 3 months ago

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates

Associated Press  

WASHINGTON — The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. “While the recovery from the shocks of the past few years continues, it is slow and it is uneven,’’ IMF Managing Director Kristalina Georgieva said …

IMF chief says the global economy has show resilience in the face of COVID, war and high rates
1 year, 3 months ago

IMF chief says the global economy has show resilience in the face of COVID, war and high rates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken
2 years ago

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken

The Hindu  

It is in America's "profound interest" that China reins in the recent surge in coronavirus infections, U.S. Secretary of State Antony Blinken has said, asserting that there are major implications if the world's second-largest economy remained shut down due to the virus. When asked about the latest surge in COVID-19 cases in China, Mr. Blinken said the U.S. wants to …

Enterprises' rising profits a cure for market anxiety
2 years, 1 month ago

Enterprises' rising profits a cure for market anxiety

China Daily  

Workers hoist steel bars at a logistics park in Huzhou, Zhejiang province. Business revenues of industrial enterprises in China above designated size increased by 7.6 percent year-on-year from January to October, but the total profits fell by 3 percent year-on-year, 0.7 percentage points lower than the January-September period, the latest data show. Despite this, the industrial structure of profits continue …

China’s stock markets jump on hopes for end to ‘zero COVID’
2 years, 2 months ago

China’s stock markets jump on hopes for end to ‘zero COVID’

Al Jazeera  

Shares rise more than 7 percent in Hong Kong and 2.5 percent in Shanghai after report decrying ‘overly strict measures’. Shares rose more than 7 percent in Hong Kong and 2.5 percent in Shanghai on Friday after the Global Times said health authorities stressed the need for anti-pandemic efforts to proceed “prudently and delicately” and with “the shortest time and …

Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz
2 years, 2 months ago

Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz

NL Times  

The looming economic crisis will make the coronavirus crisis look like nothing, according to credit insurer Allianz Trade. Rarely have so many negative facts come together simultaneously,” Johan Geeroms, director of risk underwriting in the Benelux for Allianz, said in a press statement. And, partly due to the 10 percent increase in the minimum wage the government announced for next …

Global markets rattled by Wall Street and China’s zero-Covid pledge
2 years, 8 months ago

Global markets rattled by Wall Street and China’s zero-Covid pledge

CNN  

Hong Kong/London CNN Business — Global markets slid Friday after Wall Street suffered its worst day of the year. They followed stocks in Asia, which sold off as China’s pledge to stick to its zero-Covid policy stoked concerns about the world’s second biggest economy. Hong Kong’s Hang Seng Index tumbled 3.8%, leading losses in Asian markets and logging its worst …

Global markets: Stocks and oil plunge on new Covid variant fears
3 years, 1 month ago

Global markets: Stocks and oil plunge on new Covid variant fears

CNN  

Hong Kong/London CNN Business — Stocks fell and oil prices plunged more than 10% on Friday as the emergence of a new Covid-19 variant rattled global markets. South Africa’s health minister said Thursday that a new coronavirus variant appears to be spreading rapidly in parts of the country. UK Health Minister Sajid Javid said the variant “may be more transmissible” …

Wall Street’s biggest fear isn’t Covid. It’s inflation
3 years, 9 months ago

Wall Street’s biggest fear isn’t Covid. It’s inflation

CNN  

New York CNN Business — Coronavirus fears shook Wall Street to its core last March. A record 93% of fund managers expect higher global inflation over the next 12 months, according to Bank of America. The tipping point for bond yields A related risk is a repeat of the 2013 taper tantrum, when Treasury yields spiked after the Fed signaled …

New COVID-19 lockdowns imperil global economy’s recovery
3 years, 11 months ago

New COVID-19 lockdowns imperil global economy’s recovery

Al Jazeera  

Vaccine roll-outs have been a major reason for investors’ rosy outlook, but concerns about mutant strains have tempered optimism. A major chunk of the global recovery in companies’ earnings – recovery expected in the first quarter of 2021 – is at risk of being pushed back further as coronavirus lockdowns and mobility restrictions in several countries cloud hopes of a …

TiE Global Summit: 250+ Investors Meet Entrepreneurs on 8 December
4 years, 1 month ago

TiE Global Summit: 250+ Investors Meet Entrepreneurs on 8 December

The Quint  

Social-distancing norms helped governments world over keep the spread of the pandemic in check, but they proved unforeseeably detrimental to businesses. After ten months of pandemic casting its shadows on humanity and plunging most economies into near depression, major news developments around coronavirus vaccines come with a glimmer of hope for the world. A fool-proof vaccine is yet to be …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

‘Only a crisis produces real change.’ What will coronavirus bring?
4 years, 2 months ago

‘Only a crisis produces real change.’ What will coronavirus bring?

The Independent  

There is no magic money tree,” former prime minister Theresa May smugly proclaimed in her 2017 election campaign. The prospect of reconsidering the global distribution of wealth has suddenly shifted from former US president Barack Obama’s “hope” to his “yes we can” attitude. Even Donald Trump’s “make America great again” mantra is largely focused on the economy, with GDP being …

Stocks week ahead: The economic recovery hangs in the balance as winter approaches
4 years, 3 months ago

Stocks week ahead: The economic recovery hangs in the balance as winter approaches

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. The UK government isn’t ruling out another national lockdown, though the health secretary has said it would be “the last line of defense.” Such measures would be the worst-case scenario for economies experiencing a historic expansion following a record contraction. Just take it from Federal Reserve …

China is claiming victory over coronavirus, but the true costs of the pandemic are yet to come
4 years, 4 months ago

China is claiming victory over coronavirus, but the true costs of the pandemic are yet to come

The Independent  

China has declared victory over the war against Covid-19, and another example of the superiority of the Chinese communist authorities over the governments of the west. To many people it will seem a bit of a cheek that China should allow a virus to spread wildly, denying what was happening, infect the rest of the entire world, then declare victory. …

World economy: What else could go wrong before 2020 is done
4 years, 4 months ago

World economy: What else could go wrong before 2020 is done

Live Mint  

The world economy’s rebound from the depths of the coronavirus crisis is fading, setting up an uncertain finish to the year. Adding 1.4 million jobs in August was “a big step in the right direction,” said Ryan Sweet, head of monetary policy research at Moody’s Analytics. But the economy needs to maintain that kind of pace, he said, and “without …

This is what awaits the global economy after the pandemic (opinion)
4 years, 5 months ago

This is what awaits the global economy after the pandemic (opinion)

CNN  

Editor’s Note: This article was originally published in its entirety in the International Monetary Fund’s summer 2020 issue of Finance & Development Magazine. The first trend is deglobalization; the logistic difficulties brought to light by the current crisis are already pointing to a shift away from global just-in-time supply chains. Yet as economic difficulties mount, the inevitable growth of nationalism …

Why the coronavirus crisis is another cruel economic setback for millennials
4 years, 6 months ago

Why the coronavirus crisis is another cruel economic setback for millennials

LA Times  

Nick Andersen packed up his life in Charleston, S.C., and headed south for a new job and a new start. For the last 50 years, politics ended up protecting the privileges enjoyed by “insiders.” “It’s the young who have borne the brunt of that, even before this current crisis.” Low-wage scars Definitions vary, but Pew Research considers anyone born between …

IMF forecasts deeper global recession from growing coronavirus threat
4 years, 6 months ago

IMF forecasts deeper global recession from growing coronavirus threat

Live Mint  

The International Monetary Fund downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago. Graphic: Bloomberg The IMF warned that the rebound in global financial-market sentiment “appears disconnected from shifts in underlying economic prospects,” raising the possibility that financial conditions will tighten more than forecast in its …

Letter From the Editors
4 years, 6 months ago

Letter From the Editors

The Diplomat  

Welcome to the June issue of The Diplomat Magazine! COVID-19 has sparked not only a global health crisis but a debt crunch in the developing world; political reshapings in Timor-Leste and Kazakhstan; and an environmental wake-up call in Pakistan. Much of the criticism has been focused on China, which often stands accused of ensnaring poorer partners in “debt traps.” But …

The second wave? Global markets slip on new coronavirus concerns
4 years, 6 months ago

The second wave? Global markets slip on new coronavirus concerns

Al Jazeera  

Equities and oil prices fall in Asia after new virus cases surge in China and many parts of the US. Global markets started the week on the back foot on Monday while oil prices slipped as fears of a second wave of coronavirus infections in China and a surge in cases in the United States sent investors scurrying for safe-haven …

Stock market plunge: Dow plunges 1,000 points on fears of coronavirus second wave
4 years, 6 months ago

Stock market plunge: Dow plunges 1,000 points on fears of coronavirus second wave

CNN  

New York CNN Business — The runaway train on Wall Street has been derailed by a force nearly as powerful as easy money: a healthy dose of reality. “The rally in the stock market from the March 23 lows was simply overdone,” said David Kelly, chief global market strategist at JPMorgan Funds. “Mass unemployment is going to be the primary …

June 4, 2020 coronavirus news
4 years, 7 months ago

June 4, 2020 coronavirus news

CNN  

Strict lockdowns like those instigated in China – when the coronavirus outbreak began – are better for economies than the longer, more moderate closures like the United States and many European countries have taken, a new international study suggests. “While predicting the true cost of lockdowns is not possible at this stage, our research suggests that shorter, stricter lockdowns minimize …

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank
4 years, 7 months ago

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank

ABP News  

New Delhi: The World Bank has said that the Coronavirus pandemic and strict lockdown measures taken to contain its transmission will leave a lasting effect on the global economy particularly the emerging market and developing economies, in its analysis of the situation. World Bank Group President David Malpass emphasised the need for comprehensive policies and indicated that 60 million people …

Coronavirus could cause a new euro crisis: Dutch Planning Office
4 years, 7 months ago

Coronavirus could cause a new euro crisis: Dutch Planning Office

NL Times  

The coronavirus crisis could lead to a new euro crisis, the Netherlands office for economic policy analysis CPB said after analyzing the vulnerabilities of the financial system. Despite coronavirus support measures implemented by the government, businesses and households are facing increasing financial difficulties. It showed that a quarter of small and medium sized businesses need more money than support measures …

Crushing the coronavirus uncertainty will be the big 'unlock' for economies: Report
4 years, 7 months ago

Crushing the coronavirus uncertainty will be the big 'unlock' for economies: Report

India TV News  

Crushing the coronavirus uncertainty will be the big 'unlock' for economies around the world and to safeguard lives and livelihoods, restoring confidence is a must, according to a report by McKinsey & Co. "The objective now must be to crush uncertainty as soon as possible. As we have seen in previous crises,when uncertainty subsides, confidence returns and economic recovery unlocks …

What is China’s post-coronavirus strategy?
4 years, 7 months ago

What is China’s post-coronavirus strategy?

Al Jazeera  

China fails to set an economic growth target, seeks to stabilise employment and living standards. The delayed annual session of the National People’s Congress is under way amid a pandemic that has altered China’s agendas and shuffled its priorities. The country is facing the challenge of restoring an economy that’s shrunk almost 7 percent in the first quarter of the …

Economic hit from coronavirus will be limited, NDRC head says
4 years, 7 months ago

Economic hit from coronavirus will be limited, NDRC head says

China Daily  

He Lifeng, head of the National Development and Reform Commission is interviewed via video link after the opening of the third session of the 13th National People's Congress at the Great Hall of the People in Beijing, capital of China, May 22, 2020. China has the ability to cope with the various risks and challenges amid the COVID-19 outbreak, and …

WEF Covid-19 report: 7 biggest worries for business leaders
4 years, 7 months ago

WEF Covid-19 report: 7 biggest worries for business leaders

CNN  

London CNN Business — A prolonged recession is the biggest worry for company executives as they contemplate the fallout from the coronavirus pandemic. According to the report, published on Tuesday, two thirds of respondents listed a protracted global recession as the “most worrisome” risk facing their companies.The report’s authorsalso flagged increased inequality, a weakening of climate commitments and the misuse …

China-US relations: Coronavirus has created a rift that may take a generation to heal
4 years, 8 months ago

China-US relations: Coronavirus has created a rift that may take a generation to heal

CNN  

CNN — The novel coronavirus has destroyed lives and livelihoods in both the United States and China. A few days later, US President Donald Trump called the coronavirus the “Chinese virus,” pinning the blame on China as the outbreak began to take hold in major American cities. Beijing pushed back in response, dubbing the claim a reelection tactic aimed at …

Stocks rise on hope that worst of economic plunge has passed
4 years, 8 months ago

Stocks rise on hope that worst of economic plunge has passed

India Today  

Asian shares surged Friday on optimism the worst of the economic fallout from the pandemic may be over, as Wall Street logged its biggest rally in a week. Japan's benchmark Nikkei 225 jumped 2.6 per cent to 20,179.09 in afternoon trading, helped partly by local media reports about fresh government aid to ride out the pandemic. Hong Kong's Hang Seng …

US debt is exploding because of the coronavirus. Is it near a breaking point?
4 years, 8 months ago

US debt is exploding because of the coronavirus. Is it near a breaking point?

CNN  

New York CNN Business — President Donald Trump is living up to his self-given nickname “King of Debt.” On his watch, the United States has borrowed aggressively – during the good times, and now the bad times. “It doesn’t blow us up – because interest rates are so low,” said David Kelly, chief global strategist at JPMorgan Funds. “If the …

As citizens become more fearful of coronavirus, experts need to ease fears over lifting the lockdown
4 years, 8 months ago

As citizens become more fearful of coronavirus, experts need to ease fears over lifting the lockdown

The Independent  

I’ll spare you the bad language, but the rumours coming out of government is that their “comms strategy” has scared people so witless that the authorities now worry that, even if lockdown is gradually relaxed, people won’t want to leave their homes. Brilliant specialists were interviewed who basically said they’d never seen anything like this “medieval” disease, with accounts of …

Coronavirus recovery is just around the corner — if the stock market can be believed
4 years, 8 months ago

Coronavirus recovery is just around the corner — if the stock market can be believed

ABC  

No-one has a crystal ball. The experts don't always get it right, but the main Australian stock market index right now is much higher than it was back in March, when the shock of coronavirus hit households across the country. However, when you consider the Centrelink queues, Treasury's forecast of an unemployment rate reaching 10 per cent, talk of Depression-like …

US economy suffers worst slump since GFC due to coronavirus, but share markets rally on Fed
4 years, 8 months ago

US economy suffers worst slump since GFC due to coronavirus, but share markets rally on Fed

ABC  

Australian stocks have closed higher, after the US central bank pledged to act "aggressively", as the US economy suffered its worst quarterly slump since the global financial crisis. Key points: The ASX 200 rose 2.4 per cent, led by a surge in the energy sector The ASX 200 rose 2.4 per cent, led by a surge in the energy sector …

Can the US economy recover from coronavirus?
4 years, 8 months ago

Can the US economy recover from coronavirus?

Al Jazeera  

As the pandemic spreads in the US, the country’s economy is likely to face its worst crisis since the Great Depression. It shrank by almost 5 percent in the first quarter of this year – the biggest slide since the 2008 financial crisis. As many businesses are going bankrupt, the US has pumped more than $2 trillion into the economy …

US GDP drops 4.8% as coronavirus impact hits hard: Live updates
4 years, 8 months ago

US GDP drops 4.8% as coronavirus impact hits hard: Live updates

Al Jazeera  

It is the sharpest decline since the Great Recession, an abrupt end to the longest economic expansion in US’s history. 09:30 GMT – Spain’s daily toll slightly up with 325 new deaths Spain recorded 325 deaths from the novel coronavirus overnight, up from 301 reported the previous day, the health ministry said. 07:55 GMT – Russia’s coronavirus cases near 100,000 …

China’s model of control has been blamed for the coronavirus crisis, but for some it’s looking increasingly attractive
4 years, 8 months ago

China’s model of control has been blamed for the coronavirus crisis, but for some it’s looking increasingly attractive

CNN  

Hong Kong CNN — On Sunday, Andrew Adonis, a member of Britain’s House of Lords and onetime cabinet minister, took aim at the idea that the coronavirus pandemic was causing a crisis of capitalism. Even those critics who try to avoid ethnically-tinged labels often speak of a “CPC virus” or “Xi flu,” named after country’s ruling party, the Communist Party …

The script of disruption and a new order
4 years, 8 months ago

The script of disruption and a new order

The Hindu  

The COVID-19 pandemic is unprecedented, involving as it does far too many variables. Already one of the most prominent nations of the world and an important player in international institutions, China remains totally unfazed by the stigma that the current world pandemic owes a great deal to its negligence — the first identified and detected COVID-19 victim in Wuhan was …

Coronavirus | The COVID-19 pandemic is China’s biggest crisis since Tiananmen, says Richard McGregor
4 years, 8 months ago

Coronavirus | The COVID-19 pandemic is China’s biggest crisis since Tiananmen, says Richard McGregor

The Hindu  

China’s response to COVID-19 has shown both the weaknesses and strengths of its system, says Richard McGregor, Senior Fellow at the Lowy Institute and author of The Party: The Secret World of China’s Communist Rulers. But I think China's handling of this crisis really shows the deep weaknesses and also some of the strengths of their system. You know, I …

Premarket: The coronavirus pandemic has broken the oil market
4 years, 8 months ago

Premarket: The coronavirus pandemic has broken the oil market

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “There’s a lot of oil and no real place to put it right now, so no one wants to take delivery of it,” Randy Giveans, a Jefferies analyst, told me. “We’ve seen more contracts in the last four weeks than for the past four years combined,” …

Global health crisis pits economic against health concerns
4 years, 8 months ago

Global health crisis pits economic against health concerns

India TV News  

The global health crisis is taking a nasty political turn with tensions worsening between governments locked down to keep the coronavirus at bay and people yearning to restart stalled economies and forestall fears of a depression. Washington state’s Democratic governor, Jay Inslee, accused President Donald Trump of encouraging insubordination and “illegal activity” by goading protesters who flouted shelter-in-place rules. “To …

Coronavirus: Chinese economy shrinks for the first time since 1976
4 years, 8 months ago

Coronavirus: Chinese economy shrinks for the first time since 1976

Op India  

The scourge of Wuhan Coronavirus has brought the remarkable growth-run of the Chinese economy to an end as China reported the contraction of its economy for the first time since the end of the Cultural Revolution in 1976. Ravaged by the coronavirus outbreak, China’s economy shrank by 6.8 per cent in the first three months of 2020. As the world’s …

Dow stock market today: US stocks climb higher
4 years, 8 months ago

Dow stock market today: US stocks climb higher

CNN  

The stock market may have bounced back from its worst lows and plenty of bad news is already priced in, but it still might not be the right place to be invested during the coronavirus recession. “Since the third week of March we’ve been very aggressively going from zero exposure to credit to a large overweight in credit,” Alessio de …

Australia unlikely to experience 'post-war' recovery after coronavirus
4 years, 8 months ago

Australia unlikely to experience 'post-war' recovery after coronavirus

ABC  

So far, so good. According to research by consultancy firm AlphaBeta — run by Andrew Charlton, Kevin Rudd's adviser through the global financial crisis — the stimulus program has already arrested the alarming decline in discretionary spending that rocked the economy during the last week of March. Spending per person plummeted an incredible 13 per cent below normal levels in …

Asian shares gain on hopes of coronavirus pandemic nearing peak, govts to roll out more stimulus measures
4 years, 9 months ago

Asian shares gain on hopes of coronavirus pandemic nearing peak, govts to roll out more stimulus measures

Firstpost  

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, following a strong Wall Street close Tokyo/Washington: Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices. MSCI’s broadest index of Asia-Pacific shares outside …

Should you invest in the time of coronavirus? Here's what experts think
4 years, 9 months ago

Should you invest in the time of coronavirus? Here's what experts think

India TV News  

There is a famous quote by Warren Buffet which suits the current situation of markets that -- "Be fearful when others are greedy, and be greedy when others are fearful". For long term investor this is good time to buy quality stocks at reasonable price Many market experts say that like many other crisis this too will pass and come …

Oil skids on oversupply fears after delay in Saudi Arabia-Russia negotiations; stocks jump on coronavirus-led slowdown
4 years, 9 months ago

Oil skids on oversupply fears after delay in Saudi Arabia-Russia negotiations; stocks jump on coronavirus-led slowdown

Firstpost  

Investors took solace from the fact that coronavirus cases appeared to be reaching a peak in Europe with Italy seeing the number of patients in intensive care falling for the second consecutive day Sydney: Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a …

Is capitalism dying or just in isolation during the coronavirus pandemic?
4 years, 9 months ago

Is capitalism dying or just in isolation during the coronavirus pandemic?

ABC  

Home Affairs Minister Peter Dutton was one of the first to cross the line. They've preached privatisation, asset recycling and the fundamental belief that free trade and minimal government intervention will maximise wealth and lift society as a whole. A week after Mr Dutton's outburst, Treasurer Josh Frydenberg announced stricter rules would be placed around foreign investment in a bid …

Coronavirus demands quick action, but the ACT Government will be dealing with the fallout for years
4 years, 9 months ago

Coronavirus demands quick action, but the ACT Government will be dealing with the fallout for years

ABC  

After a fortnight of sensational spending by governments at all levels, it feels a bit like numbers have lost all meaning. A fortnight ago, one of the World Health Organisation's top officials urged governments responding to coronavirus to "be fast … have no regrets". And the Real Estate Institute of the ACT expressed its concerns over the rent relief measures, …

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