The New York Stock Exchange (NYSE) has re-opened its trading floor after a two-month closure due to the coronavirus pandemic.
Business
Saudi Arabia buys sizeable stakes in Disney and other major foreign corporations
Saudi Arabia’s sovereign wealth fund said in April that it was looking into “any opportunity” arising from the economic wreckage of the coronavirus crisis.
Saudi Aramco expects dip in future demand as virus hits quarterly profits
Energy giant Saudi Aramco on Tuesday posted a 25% slump in first-quarter profits and said the coronavirus crisis which triggered a crash in oil prices would weigh heavily on demand in the year ahead.
European Union faces a deep and uneven recession
The European Union faces a deep and uneven recession, according to a new forecast from the EU’s Commission.
China introduces digital currency to counter dollar monopoly
China has commenced its ‘first pilot program trial’ of its state-run digital currency in four major cities which is said to further the development of RMB-based trade settlement system ‘designed to counter dollar weaponisation’.
US economy shrinks at fastest rate since 2008
The US has tried to cushion the economic blow with nearly $3tn (£2.4tn) in new spending, including direct payments to many families. The Federal Reserve has also taken with a slew of emergency steps, including lowering interest rates to near zero.
US slashes rates over coronavirus risks in first emergency move since 2008
The United States Federal Reserve on Tuesday slashes interest rates in an emergency move to tackle coronavirus risks and shield the world’s largest economy from the impact of the epidemic.
