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February 26, 2020

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Economic News (3rd Party)

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European Commission says too early to assess coronavirus impact on EU economy

Reuters
by Reuters05
European Economic Commissioner Paolo Gentiloni attends a news conference on public finances in EU states at European Union Commission headquarters in Brussels, Belgium February 26, 2020. REUTERS/Francois Lenoir BRUSSELS (Reuters) – It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the......
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World shares slump for fifth day, bets grow on interest rate cuts to counter damage

Reuters
by Reuters010
LONDON (Reuters) – World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs and U.S. bond yields held near record lows after governments and health authorities warned of a possible coronavirus pandemic. FILE PHOTO: A passerby walks past in front of a......
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Liberian former IMF official named as deputy managing director

Reuters
by Reuters03
FILE PHOTO: Antoinette Sayeh, the International Monetary Fund (IMF) director for Africa, responds to a question during a public lecture at the University of Nairobi October 22, 2012. REUTERS/Noor Khamis WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Tuesday nominated former IMF official Antoinette Sayeh to become......
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U.S. consumer confidence holds at higher levels despite coronavirus

Reuters
by Reuters02
WASHINGTON (Reuters) – U.S. consumer confidence edged up in February, suggesting a steady pace of consumer spending that could support the economy despite growing fears over the fast-spreading coronavirus, which have roiled financial markets. Shoppers carry bags in Herald Square, New York, U.S., December 27, 2019. REUTERS/Bryan R Smith The......
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IEA says virus-hit oil growth outlook lowest in a decade, could go lower

Reuters
by Reuters06
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson/File Photo LONDON (Reuters) – The International Energy Agency’s (IEA) outlook on global oil demand growth has fallen to its lowest level in a decade, IEA Executive Director Fatih Birol said on Tuesday, adding it could......
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Wall Street plunges on fears of coronavirus pandemic

Reuters
by Reuters08
New York (Reuters) – The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic. Investors sold riskier assets and rushed to......
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China’s main manufacturing hubs reboot after virus shutdown

Reuters
by Reuters03
BEIJING/SHANGHAI (Reuters) – As many parts of China ease coronavirus travel curbs, main manufacturing hubs in the east and south are seeing hundreds of thousands of migrant workers returning to work and more traffic on the roads during rush hours. FILE PHOTO: Traders buy and sell chips and components on......
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Exclusive: U.S. sees no material impact from virus on U.S.-China trade deal – for now

Reuters
by Reuters04
RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 U.S.-China trade deal, although that could change as more data becomes available in coming weeks. FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before......
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Take Five: ‘Our currency, your problem’ – all over again

Reuters
by Reuters09
(Reuters) – FILE PHOTO: U.S. dollar banknotes are pictured at a currency exchange office in Diyarbakir, Turkey, November 17, 2017. REUTERS/Sertac Kayar 1/ KING DOLLAR The dollar juggernaut rolls on. The U.S. currency =USD has rocketed to a near three-year high versus the euro, a 10-month high against the yen......
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Mastercard to add 1,500 technology jobs in Ireland

Reuters
by Reuters08
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration DUBLIN (Reuters) – Mastercard Inc (MA.N) plans to hire 1,500 more staff at its global technology hub in Dublin over the next three to five years, more than trebling the size of......
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Coronavirus concerns spur odd market moves

Reuters
by Reuters08
NEW YORK (Reuters) – Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown. FILE PHOTO: Numbers showing the state of the Dow Jones Industrial Average are displayed above the floor after the closing bell at the......
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Exclusive: If Lebanon needs financial aid, France will be there, finmin says

Reuters
by Reuters05
RIYADH (Reuters) – France is ready to support Lebanon financially – bilaterally or multilaterally – its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with U.S.-led efforts to counter Iran in the region. FILE PHOTO: French Finance and Economy Minister Bruno Le Maire......
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No global digital tax by end-2020 would mean chaos: France

Reuters
by Reuters08
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on Sunday. FILE PHOTO: French Finance Minister......
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G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup

Reuters
by Reuters07
RIYADH (Reuters) – Finance chiefs of the world’s top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021. The Group of 20 (G20)......
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G20 finance heads see modest growth pickup, to monitor coronavirus

Reuters
by Reuters07
RIYADH (Reuters) – Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. U.S. Treasury Secretary Steven Mnuchin arrives for......
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Exclusive: If Lebanon needs financial aid, France will be there, finance minister says

Reuters
by Reuters05
FILE PHOTO: French Finance and Economy Minister Bruno Le Maire speaks during the G20 finance ministers and central bank governors meeting in Riyadh, Saudi Arabia, February 22, 2020. REUTERS/Ahmed Yosri RIYADH (Reuters) – France is ready to support Lebanon financially — bilaterally or multilaterally — its finance minister said on......
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Reuters - Business

No global digital tax by end-2020 would mean digital tax chaos: France

Reuters
by Reuters07
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants like Google(GOOGL.O), Amazon(AMZN.O) or Facebook(FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on Sunday. FILE PHOTO: French Finance Minister Bruno Le Maire attends......
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Shifting sands of inflation unsettle top bankers at Riyadh G20 meeting

Reuters
by Reuters06
RIYADH/WASHINGTON (Reuters) – Central bankers from the United States, Japan and the euro zone meeting in the desert kingdom of Saudi Arabia this weekend had their own shifting sands to cross – those of elusive inflation. FILE PHOTO: European Central Bank President Christine Lagarde arrives for a welcome dinner at......
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G20 sees need to coordinate coronavirus response as IMF trims growth forecasts

Reuters
by Reuters013
RIYADH (Reuters) – The world’s top economies called on Saturday for a coordinated response to the coronavirus outbreak, which the IMF predicted would lower China’s growth this year to 5.6% and shave 0.1 percentage points from global growth. FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a news conference......
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Japan urges G20 members with fiscal scope to boost spending

Reuters
by Reuters09
RIYADH (Reuters) – Japan called on G20 countries with fiscal space to ramp up spending to help the global economy weather risks, including the fallout from the coronavirus outbreak, Finance Minister Taro Aso said on Saturday. FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual......
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