Economy

• Friday, June 12th 2020 - 09:59 UTC

  Fallout from pandemic could plunge 395 million people into extreme poverty

  

  The economic fallout from the coronavirus pandemic could plunge an extra 395 million people into extreme poverty and swell the total number of those living on less than US$1.90 a day worldwide to more than 1 billion, researchers said in a report on Friday.

• Friday, June 12th 2020 - 09:26 UTC

  UK sales of beer slump to the lowest on record, claims Pub Association

  

  UK sales of beer have slumped to the lowest level on the record because of the coronavirus outbreak, trade industry body the British Beer and Pub Association said on Thursday.

• Friday, June 12th 2020 - 08:57 UTC

  UK economy contracted 20,4% in April, according to Stats Office

  

  The UK economy shrank by 20.4% in April, according to figures outlined by the Office for National Statistics on Friday morning.

• Thursday, June 11th 2020 - 13:28 UTC

  Spain eyeing chair of the Eurozone of finance ministers and WTO leadership

  

  The Spanish government started lobbying on Wednesday for Economy Minister Nadia Calvino to take the presidency of the Euro-group, with a minister saying “it would be good news” if she were to replace Mario Centeno, who is stepping down.

• Thursday, June 11th 2020 - 13:17 UTC

  Fed anticipates near zero rate through 2022 and will keep buying bonds

  

  The United States Federal Reserve says it will keep buying bonds to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed's policymakers foresee no rate hike through 2022.

• Thursday, June 11th 2020 - 08:51 UTC

  Petrobras record exports of fuel oil, low in sulphur content

  

  Brazil's oil and gas giant Petrobras during the month of Maye exported 1.11 million tons of fuel oil, surpassing the previous record set in February 2020 by 10%. The amount of fuel oil exported was 231% above the volume exported in May last year.

• Thursday, June 11th 2020 - 08:13 UTC

  Flash flood of shoppers in Sao Paulo despite record number of Covid 19 deaths

  

  Brazil's most populous state Sao Paulo reported a record number of COVID-19 deaths for the second day running on Wednesday even as its metropolis allowed shops to resume business and prepared to reopen its malls.

• Thursday, June 11th 2020 - 08:00 UTC

  Brazil forecasted to harvest 245,9 million tons of cereals and oil seeds

  

  According to the Systematic Survey of Agricultural Production (LSPA), released on Tuesday, June 9th, by the IBGE, the country will harvest 245.9 million tons of cereals, legumes and oilseeds by the end of the year, up 1.8% (4.4 million tons more) compared to 2019.

• Wednesday, June 10th 2020 - 22:10 UTC

  Falklands 2020/21 budget reflects stability and continuity: no rises in fees or charges

  

  Stability and continuity are at the heart of the Falkland Islands Government Budget for 2020/21. The Budget recognises these two themes are essential in the time of uncertainty stemming from the global COVID-19 pandemic.

• Wednesday, June 10th 2020 - 22:01 UTC

  Airline industry losses forecasted to top US$84 billion in 2020, estimates IATA

  

  Passenger revenues are expected to fall to US$241 billion (down from US$ 612 billion in 2019). This is greater than the fall in demand, reflecting an expected 18% fall in passenger yields as airlines try to encourage people to fly again through price stimulation. Load factors are expected to average 62.7% for 2020, some 20 percentage points below the record high of 82.5% achieved in 2019.