As governments around the world battle the economic fallout of the COVID-19 pandemic, the International Monetary Fund (IMF) has published a further grim forecast, predicting a 4.9% contraction in global GDP (gross domestic product) for 2020, a lower figure than the 3% forecast in April, CNBC reports. The IMF also downgraded its GDP prediction for 2021, lowering it to 5.4% from the 5.8% forecast in April.
The United States and Russia have restarted negotiations about their nuclear arsenals following a break of more than a year amid the worst military tensions between the two atomic superpowers since the Cold War. But the talks in Vienna, Austria, began Monday amid uncertainty over whether U.S. President Donald Trump wants to secure a nuclear arms control treaty in the last four months before presidential elections.
Hope but also frustration and uncertainty marked the world’s efforts Sunday to deal with the ongoing coronavirus pandemic.
The Israeli government’s ad hoc “Corona Cabinet” approved on Monday several new measures to deal with the ongoing COVID-19 pandemic.
US President Donald Trump is considering an infrastructure plan worth $1 trillion to help revive the economy from the fallout of coronavirus and push ahead with his longstanding goal of spending big on US infrastructure, Bloomberg reported Tuesday.
U.S. social media giants have reacted differently to China’s mounting censoring pressure, Worthy News monitored Friday.
U.S. President Donald Trump pledged a strong, swift economic recovery and coronavirus vaccine after the U.S. market had its worst finish in three months.
The U.S. Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5% in 2020 and the unemployment rate to be 9.3% at year’s end.
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.
The National Bureau of Economic Research announced Monday that a recession began in February of this year, marking the end of the longest period of economic growth in history.
Two significant media companies claim their survey suggests that eight out of 10 American voters believe things in the United States “are out of control.” The NBC News/Wall Street Journal opinion poll, released Sunday, came amid sometimes violent protests over perceived racist police abuse and concerns over the coronavirus pandemic.
The U.S. stock market surged to near-record highs after unemployment dropped unexpectedly in May to 13.3 percent prompting President Donald Trump to cheer as he seeks re-election this year.
The economy gained 2.5 million jobs in May, lowering the unemployment rate to 13.3%, the Labor Department said Friday.
U.S. President Donald Trump says he wants a different state to host the Republican National Convention because host North Carolina refuses to guarantee the event can take place in Charlotte without restrictions due to ongoing concerns over the coronavirus outbreak.
The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter.
There were two realities in the United States Tuesday with stocks on Wall Street surging to their highest levels in two months while Main Street suffered due to the coronavirus pandemic.
European nations are slowly ending lengthy lockdown measures linked to the coronavirus pandemic, including hard-hit Spain. While still mourning its reported 28,000 coronavirus deaths, Spain wants to ease restrictions and reopen for massive tourism.
The already struggling retail industry has experienced catastrophic layoffs amid the coronavirus pandemic that are hitting historic levels.
Israel’s economy faces its sharpest decline in 20 years as it contracted by 7.1 percent in the first quarter of this year, official figures show.
Scores of people have died, hundreds of thousands are homeless, and millions face flooding and power shortages in India and Bangladesh after one of the region’s fiercest cyclones in a decade.