More than one million people have fallen through cracks in government schemes designed to support them during the coronavirus crisis, MPs says. The Treasury Select Committee called on ministers to plug gaps in the schemes to fulfil the government’s promise of “doing whatever it takes”. Freelancers and recent employees are […]
Business
Amid brewing Sino-US tensions, economic distancing from China would carry heavy costs, says ANU’s Shiro Armstrong. An overview of Shenzhen. SYDNEY: The health and economic crises from the coronavirus are unlike anything the world has experienced since the Great Depression and World War II. The global community is at […]
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan. WASHINGTON: Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the US economy, Dallas Federal Reserve President Robert Kaplan said on Sunday (Jun 14). “A more inclusive economy where everyone has an opportunity will […]
TOKYO: An explosion was reported at Honda Motor’s plant in central Japan, police said on Sunday (Jun 14), with two workers sent to the hospital with burns. The explosion at a switchboard occurred at around 9.15am local time (8.15am Singapore time) in Honda’s plant in Suzuka city, Mie prefecture, an […]
FIRA: From the emblematic island of Santorini, Greek Prime Minister Kyriakos Mitsotakis said on Saturday (Jun 13) that Greece is “ready to welcome tourists” in complete safety after the coronavirus lockdown, whose impact on tourism will be “significant”. “Greek tourism is back,” said Mitsotakis, two days before the reopening of […]
TORONTO: Canada’s intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global “shock waves” and seriously affect ties with China, just before her detention in Vancouver on a US extradition request, new court documents show. Released on Friday, the documents show the involvement […]
LONDON: Britain’s economy shrank by a record 20.4 per cent in April from March as the country spent the month in a tight coronavirus lockdown, official data showed on Friday (Jun 12), in what is likely to be the low point of the slump before a long and slow recovery. […]
SINGAPORE: The owner of spa chain Healing Touch is anxious about reopening his business when Singapore enters Phase 2 of its recovery journey after COVID-19 “circuit breaker” restrictions. On one hand, Mr Joshua Lung, who also owns Aesteem Aesthetic Clinic, is looking forward to receiving customers again after being closed […]
The UK is likely to be the hardest-hit by Covid-19 among major economies, a leading agency has warned. Britain’s economy is likely to slump by 11.5% in 2020, outstripping falls in other developed economics of Germany, France, Spain and Italy, it said. If there were a second peak in the […]
PARIS: The global economy will contract at least six per cent this year, with the unprecedented loss of income and “extraordinary uncertainty” caused by measures to contain the coronavirus outbreak, the OECD said Wednesday (Jun 10). In the case of a second wave of contagion later in the year, economic […]