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Economic Impact Of Virus Pandemic Worse Than 2008 Financial Crissi, Says IMF Chief

An economic crisis “like no other” has been caused by the coronavirus pandemic – and the crisis is “way worse” than the 2008 global financial crisis, said a top official of the International Monetary Fund.   “Never in the history of the IMF have we witnessed the world economy come to a...

Coronavirus Effect: Consumer Sentiment In US Touched 3-1/2-Year Low

The coronavirus pandemic that has upended the life of citizens of the United States and has discouraged them from spending has resulted in the US consumer sentiment for the month of March touching a 3-1/2-year low. Consumer spending was also slow in February. These figures have further hinted at a...

Coronavirus Pandemic Prompts Over 1000 UK Forms To Halt Dividend Payments

The rapid and devastating spread of the coronavirus pandemic in the United Kingdom has forced the government to impose a lock down in most parts of the country and shut down factories to combat the spread of the pandemic. As such companies are now focusing on conserving cash which has forced more...

'Buy America' Order Would Hit Pandemic Response, Warns US Business Groups

More than 80 business groups in the United States has warned that shortages of urgently needed medicines and medical equipments to fight coronavirus pandemic in the country could be worsened while also delaying the discovery of a vaccine for the new coronavirus because of the plans of the White...

Investors Say Reopening US Economy Early Could Cause More Harm Than Good To Humans And Markets

Despite clear signals that the coronavirus pandemic is spreading across the United States, the desire of the US President Donald Trump to reopen the economy could be bad for the economy, said investors, with the death rate due to the virus going up and Americans still unwilling to go out because of...

$2 Billion In Funds Added By World Bank For Its Members Bit By Coronavirus

The amount of money that the World Bank has set aside for fast-track financing available to members to respond to the global coronavirus pandemic has been augmented by another $2 billion with the total amount now at $14 billion. The bank had announced the initial package on March 3.   ...

Growing Coronavirus Contagion Puts Travel Industry Under Siege

Travel companies across the Pacific sounded alarm because of the economic fall out of the spread of the coronavirus with profit warnings being issued by Australian travel firms and capacity slashing by Japanese carriers. On the other hand, airlines in the United States are rushing to curt flights...

Record Drop In Auto Sale In China For February, Industry Calls For Aid From Government

There was a 79 per cent year on year plunge in the sale of new auto and vehicles in China – the largest auto market of the world, in the month of February – the month that saw the strictest curbs in the country on travel and movement and on production because of the spread of the deadly...

Industry Group Estimates Loss Of $820Bn In Revenue From Business Travel Due To Coronavirus

A spade of travel bans, cancellation of flights and dramatic reduction in tourists, coupled with curbs in corporate travel plans because of the spread of the coronavirus epidemic throughout the world is expected to hit the global business travel sector to hit hard for the current year with an...

Coronavirus Continues To Be A Cause Of Concern For Traders Of Stock Markets

The broader economic fall out of the coronavirus have kept investors worried which has resulted in sharp fall in the global stock markets.   There was a 3 per cent drop in London's FTSE 100 share index as well as similar falls in the other stock markets in Europe. Investors in the United...

Masitinib: could this be the next MS market blockbuster?

AB Science announced positive results of a phase 3 clinical trial of masitinib in the treatment of progressive forms of multiple sclerosis (MS). Findings could be the precursor to a blockbuster outstripping the success of medications like Roche’s Ocrevus (ocrelizumab). What is it about masitinib...

Chinese Stock Market Wiped Of $393 Billion Over Virus Fears

The first day of trade at the Chinese stock exchange after the Lunar New Year saw investors erasing about $393 billion from the country’s benchmark stock index as they sold the yaun and commodity stocks over fears of the spreading coronavirus and the economic impact it could have.   The...
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