Economy

Wednesday, May 6th 2020 - 08:20 UTC
US largest pork abattoir resumes limited production

Tyson Foods Inc will resume limited production at its largest U.S. pork plant this week, the company said late on Tuesday. Tyson Fresh Meats, the beef and pork subsidiary of Tyson Foods, had indefinitely suspended operations at the Waterloo, Iowa plant on April 22 to contain the rapid spread of the coronavirus.
Wednesday, May 6th 2020 - 07:00 UTC
British new car sales slumped to its lowest level since February 1946

British new car sales slumped by an annual 97% in April to the lowest level of any month since February 1946 as factories and dealerships shut due to the coronavirus outbreak.
Tuesday, May 5th 2020 - 07:02 UTC
Half of the world's workers in danger of losing livelihoods, ILO report

Half of the world's workers are in danger of having their livelihoods destroyed by the coronavirus pandemic, a United Nations agency has warned. The International Labour Organisation's updated analysis emphasizes its severe impact on people in informal work.
Tuesday, May 5th 2020 - 07:00 UTC
Surprise: Brazil's retailer industry finds a consolidated e-commerce sector as it gradually reopens

Brazil's battered retailers are starting to reopen after weeks of coronavirus lockdown but may exit the crisis transformed, with the e-commerce sector strengthened and brick-and-mortar chains facing an uphill path to normality.
Tuesday, May 5th 2020 - 06:58 UTC
US prepared to borrow a record US$ 3 trillion in second quarter; national debt soared above 100% of GDP

United States has said it wants to borrow a record US$ 3 trillion in the second quarter, as coronavirus-related rescue packages blow up the budget. The sum is more than five times the previous quarterly record, set at the height of the 2008 financial crisis.
Tuesday, May 5th 2020 - 06:44 UTC
A quarter of UK employees furloughed, and companies claiming £8 billion to pay wages

Around a quarter of employees in Britain have been furloughed and companies have claimed £8 billion from the government to sustain their wage bills during the coronavirus lockdown, tax authorities said on Monday.
Tuesday, May 5th 2020 - 06:41 UTC
Australia and New Zealand considering a “travel bubble” between the two countries

New Zealand and Australia are discussing the potential creation of a “travel bubble” between the two countries, sources said on Monday, even as Australia reported its highest number of coronavirus cases in two weeks.
Monday, May 4th 2020 - 08:07 UTC
Argentina cannot afford to pay creditors more

By Martin Guzman (*) – The following piece was published in the Sunday editions of the Financial Times, ahead of a critical countdown in May for Argentina's debts and its creditors:
Monday, May 4th 2020 - 07:57 UTC
Argentina willing to continue talks with bondholders; ensuring sustainability of the debt is the target

Argentina is willing to keep working toward a deal to restructure its debt if an offer that expires on Friday is rejected, the economy minister said. Economy Minister Martin Guzman told Argentine daily Clarin in an interview published on Sunday that he is seeing a “growing understanding” with bondholders ahead of a May 8 deadline for the offer that creditor groups already criticized.
Monday, May 4th 2020 - 07:41 UTC
Buffett sold its entire stakes at the four largest US airlines: “the world has changed”

Berkshire Hathaway sold its entire stakes in the four largest US airlines in April, chairman Warren Buffett said on Saturday at the company's annual meeting, saying “the world has changed” for the aviation industry.