Business

Image copyright Getty Images The coronavirus was “taken a little more lightly” by western economies compared to those in Asia, says a former IMF chief economist. Raghuram Rajan said western economies are facing a drop in economic growth by as much as 6% this year. The widespread closure of businesses is having a huge financial […]

Image copyright Kinnerton Confectionery Image caption UK consumers are turning to the internet to buy Easter eggs Online sales of Easter eggs are surging as UK consumers turn to the internet during the coronavirus lockdown. Easter is big business in Britain. In 2019, consumers spent £1.1bn on buying items to celebrate the festival, according to

Image copyright Getty Images “If our workers don’t die from coronavirus, they’d die of starvation.” This is the stark assessment of how the pandemic is impacting the clothing industry from garment factory owner, Vijay Mahtaney, the chairman of Ambattur Fashion India. In normal times, Vijay Mahtaney and his partners Amit Mahtaney and Shawn Islam employ

Image copyright Getty Images The coronavirus pandemic has meant that British people have been forced to stay in to try to contain its spread. And many are buying more alcohol to drink at home as a result. Alcohol sales in supermarkets and corner shops jumped by 22% in March, according to consumer analysts Kantar. Total

Image copyright Getty Images Image caption Cruise ships have been moored up around the world as a result of the coronavirus pandemic David Reece and his wife Carolyn should be sipping cocktails somewhere in the Indian Ocean at the moment. But their latest cruise line holiday has been cancelled because of the coronavirus outbreak. And

Image copyright Getty Images Image caption Italy has been struggling with huge debt since before the coronavirus crisis EU finance ministers have agreed a €500bn (£440bn) rescue package for European countries hit hard by the coronavirus pandemic. The chairman of the Eurogroup, Mário Centeno, announced the deal, reached after marathon discussions in Brussels. But the

Image copyright AFP Image caption Three-quarters of the world’s workers have seen their place of work close at last partially during the pandemic, the UN sys The coronavirus pandemic will turn global economic growth “sharply negative” this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said the world faced the

Image copyright Getty Images The UK economy is forecast to fall an incredible 14% in the current pandemic-afflicted quarter ending in June. The forecast comes from an average projection of more than a dozen top economists surveyed by the BBC. While the same economists predict a similarly large positive rebound after that, this year, annual

BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail to match the speed

Image copyright Getty Images Senior executives and board members at major UK banks have agreed to give up their 2020 bonuses as the coronavirus crisis continues. This part of their remuneration, which is worth millions of pounds, will in many cases be donated to charity. The move, from banks such as HSBC, RBS and Lloyds,