Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday. Two-thirds of the 347 respondents to the survey – carried out in response to the outbreak …
The coronavirus is dealing a death blow to the longest U.S. economic expansion on record, triggering layoffs and putting intense strain on the nation’s financial system. In a cruel paradox, the very steps that are needed to contain the outbreak …
Economic growth in New England has been slowest in Connecticut and Maine since the end of the recession in 2009, according to new federal statistics released Wednesday. Quarterly gross domestic product — the value of all goods and services — …
Ohio’s per capita income rose at one of the fastest rates in the nation last year, another sign that the Rust Belt state’s economy is bouncing back after the recession. The measure that includes all earnings – wages, dividends, interest …
The health of the world’s economy continues to deteriorate as insufficient demand, unemployment and the on-going debt crisis in Europe undermine recovery efforts, according to the latest findings from the ICC-Ifo World Economic Survey (WES). The ICC said that “based …
Leading European banks reported dismal profits on Tuesday, blaming everything from the continent’s debt crisis and Spain’s property market crash to Facebook’s disastrous stock market debut. Within a space of an hour UBS of Switzerland, Deutsche Bank, BBVA of Spain …
World Bank President Jim Yong Kim on Wednesday warned that most regions of the world will be hurt by the debt crisis enveloping the euro zone and said it was vital to protect the strong economic gains of the past …
All of Europe’s biggest economies are in recession or heading there and there is little sign things will improve soon, surveys showed on Wednesday, backing a growing view that the region’s major central banks are poised to ease policy this …
Greece’s election has averted the immediate threat of a euro break-up, but it does nothing to restore the magic ingredient missing in the European and global economies – confidence. Investors and corporate executives are paid to calculate risk. But they …
Ireland held a referendum on Thursday, May 31 – a straight yes or no vote on whether the country would write the “Stability Treaty,” the austerity measures agreed to last fall by the 17 euro zone countries, into law. It …
