Morgan Stanley economists said the coronavirus will inflict a deeper recession on the U.S. than previously expected, including a record 30.1% drop in gross domestic product in the second quarter.
China is set to unleash trillions of yuan of fiscal stimulus to revive an economy expected to shrink for the first time in four decades amid the coronavirus pandemic, while a planned growth target is likely to be cut, according to four policy sources.
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signalling the price war that’s roiling global energy markets will continue.
The coronavirus represents an unprecedented economic "emergency" and the Bank of England will do anything it takes - even radical money printing operations - if it needs to, the new governor has said.
Just a half hour before midnight Wednesday, the Federal Reserve announced further steps to try to stabilize U.S. financial markets rocked by the sudden pullback of economic activity stemming from the deadly coronavirus outbreak.
The government will consider various measures, including tax cuts, to deal with deepening damage to its economy from the coronavirus outbreak, Economic and Fiscal Policy Minister Yasutoshi Nishimura said on Tuesday, amid growing debate on the possibility of cutting sales tax.
The US government’s economic stimulus is ballooning into trillion-dollar territory — the largest rescue in modern American history — as major industries flood the Trump administration and Capitol Hill for aid while huge swaths of the economy stall from the coronavirus crisis.
Hong Kong's long reign as the pinnacle of free-market values has come to an end thanks to last year's anti-government unrest, with the Heritage Foundation crowning Singapore on Tuesday as its new global champion.
Hong Kong will quarantine for 14 days everyone entering the Chinese-ruled city from a foreign country starting from midnight on Thursday (March 19) to prevent an “explosion” of coronavirus cases around the world compromising one of the world’s most successful outbreak limitation campaigns.
Measures worth about $400 billion are already under way from the White House and Congress to offset the economic shock from the coronavirus -- and the administration is ready to double that figure, President Donald Trump’s economic adviser Larry Kudlow said Monday.
President Trump said Friday that the U.S. would purchase "large quantities" of crude oil in order to help the industry, which has been hit by sinking prices this week.
China’s industrial output contracted at the sharpest pace in 30 years in the first two months of the year as the fast spreading coronavirus and strict containment measures severely disrupted the world’s second-largest economy, data showed on Monday.
In an emergency move Sunday, the Federal Reserve announced it is dropping its benchmark interest rate to zero and launching a new round of quantitative easing.
In an address at Downing Street, the Government's Chief Scientific Adviser Sir Patrick Vallance warned virus modelling suggests between 5,000 and 10,000 people in the UK currently have Covid-19 but most are unaware they have contracted it.
China's civil aviation industry bore the brunt of the novel coronavirus pneumonia (Covid-19), as it suffered major losses in February, the biggest in a single month.
Panic over the coronavirus on global financial markets amid the biggest market crash in a generation has forced the US central bank to inject trillions of dollars into bond markets in a dramatic attempt to prevent a repeat of the 2008 credit crunch.
US President Donald Trump has announced sweeping new travel restrictions on Europe in a bid to combat the spread of the coronavirus.
Chinese banks extended 905.7 billion yuan ($130.24 billion) in new yuan loans in February, down from January and falling short of analyst expectations.
NEW YORK, March 11 (Xinhua) -- The total number of confirmed COVID-19 cases in the United States reached 1,001 with 28 deaths by 11:30 p.m. EST Tuesday (0330 GMT on Wednesday), according to the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University.
The central bank has also announced a new term-funding scheme to support small and medium-sized companies, as well as new steps to help commercial banks lend more.