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The United Kingdom had announced on Tuesday that it would be ramping up on support for businesses affected by the virus outbreak. The government had recently told its people to avoid public areas such as pubs, restaurants, and theaters which had hurt a majority of companies in the country.
The Bank of England’s Finance minister Rishi Sunak is expected to unveil new measures at a government news conference. Last week, Sunak had pledged to send out £30 billion ($37 billion) to public healthcare and certain businesses worse hit by the virus.
Director of the British Chamber of Commerce, Adam Marshall said that further action had to be taken by the government and suggested that a suspension of tax bills could be the best step.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
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 gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
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