May 13 U.N. forecasts pandemic to shrink world economy by 3.2% By Edith M. Lederer, Associated Press The United Nations is forecasting that the coronavirus pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s. Continue reading
May 07 Foreigners on the frontlines of pandemic in Arab Gulf states By Aya Batrawy, Associated Press The global pandemic has drawn attention to just how vital foreigners are to the Arab Gulf countries where they work, particularly as countries like Saudi Arabia, Kuwait and Oman expel foreigners from certain sectors to create jobs for their own… Continue reading
Apr 30 Europe’s employment aid keeps jobs from vanishing — for now By Masha Macpherson, David McHugh, Associated Press Government programs are keeping hard-hit businesses across Europe afloat, preventing millions of workers from losing their jobs and income for now, and thousands of bosses from seeing their trained staff scatter. Continue reading
Apr 16 U.S. job losses mount as economic pain deepens worldwide By Christopher Rugaber, Lori Hinnant, Associated Press The ranks of Americans thrown out of work by the coronavirus ballooned Thursday to more than 20 million in just four weeks, an unprecedented collapse fueling widening protests and propelling President Donald Trump's push to relax the nation's social distancing… Continue reading
Apr 14 IMF: Global economy will suffer worst year since Depression By Paul Wiseman, Martin Crutsinger, Associated Press Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. Continue reading
Mar 23 Over 1.5 billion globally asked to stay home to escape virus By Lori Hinnant, Foster Klug, Associated Press The hunt for masks, ventilators and other medical supplies consumed the U.S. and Europe, as more than 1.5 billion people — one-fifth of the world's population — were asked or ordered to stay home on Monday to try to blunt… Continue reading
Mar 05 Global markets slide again amid concern over coronavirus By Associated Press Stocks are opening sharply lower on Wall Street, erasing 2% from major indexes, a day after surging 4% as the mood swings back to fear. Continue reading
Feb 13 Virus outbreak blamed for forecast fall in oil demand By Associated Press The International Energy Agency expects demand for oil to fall by 435,000 barrels per day in the first quarter as a result of the virus outbreak from China. Any fall would be the first quarterly decline in a decade. The… Continue reading
Feb 04 The clock is ticking for companies that depend on China imports By Paul Wiseman, Anne D'Innocenzio, Associated Press If much of industrial China remains on lockdown for the next few weeks — a very real possibility — Western retailers, auto companies and manufacturers that depend on Chinese imports will start to run out of the goods they depend… Continue reading
Jan 30 How novel coronavirus could affect the global economy By Gretchen Frazee International health experts say they are doing everything they can, in partnership with China, to contain the virus. Whether they are successful over the coming days and weeks could determine whether the virus ends up being relatively minor hit or… Continue reading