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Finance Minister Bruno Le Maire on Tuesday announced that France will be sending €45 billion ($50.22 billion) toward companies across the country after many expected its virus-hit economy to drop by 1%.
Le Maire said that a major part of the fiscal package would be the deferral of all taxes and payroll costs that companies were due to pay by the end of March.
The funds come along with the €300 billion in government loan guarantees that was unveiled on Monday by President Emmanuel Macron on Monday.
Le Maire added that a new budget bill will be created "in a matter of hours" in order to review the impact from the virus.
Regarding whether the stock markets were to close, Le Maire said that they would be focusing on other matters such as a short-selling ban where regulators have been doing for 24 hours.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
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