Global stock markets surge after weeks of losses

There was further financial turbulence on Tuesday when stock markets around the world climbed sharply higher, as investors grappled with the economic impact of the coronavirus. In the US, the Dow Jones Industrial Average rose 11.4% – its biggest daily gain since 1933. The S&P 500 and London’s FTSE 100 enjoyed their best days since […]

Coronavirus: A visual guide to the economic impact

By Lora Jones, David Brown & Daniele Palumbo, BBC News The coronavirus outbreak, which originated in China, has infected more than 200,000 people. Its spread has left businesses around the world counting costs. Here is a selection of maps and charts to help you understand the economic impact of the virus so far. Global shares take […]

Coronavirus: Strict new curbs on life in UK announced by PM

Strict new curbs on life in the UK to tackle the spread of coronavirus have been announced by the prime minister. People may only leave home to exercise once a day, to travel to and from work where “absolutely necessary”, to shop for essential items, and to fulfil any medical or care needs. Shops selling […]

Travel advice: coronavirus (COVID-19)

Guidance for British people travelling and living overseas during the coronavirus (COVID-19) pandemic. Published 4 February 2020 Last updated 18 March 2020 — see all updates From: Foreign & Commonwealth Office Exceptional travel advisory notice The Foreign & Commonwealth Office (FCO) now advises British people against all non-essential travel worldwide. This advice takes effect immediately and applies initially for […]

World Business Quick Take

CHINA Q1 plunge of 9% forecast China’s economy is set to post a 9 percent plunge in the first quarter from a year earlier, Goldman Sachs Group Inc said yesterday. A day after retail sales, industrial output and investment data plunged by far more than the median estimate of analysts, Goldman economists said that their […]

UK asks makers to build ventilators

TRANSPARENCY: The prime minister and senior officials are to hold daily televised briefings with medical advisers to explain the government’s response to the pandemic British Prime Minister Johnson was yesterday to ask businesses to help build medical equipment, as he tried to reboot his COVID-19 strategy after the UK death toll rose to 35. Amid […]

COVID-19, Adam Smith and the wealth and health of nations

By Willem Buiter, a former chief economist at Citigroup, is a visiting professor at Columbia University. COVID-19’s implications for the global economy are highly uncertain, but potentially disastrous. As of March 5, the WHO had identified 85 countries and territories with active COVID-19 cases — an increase from 50 countries the previous week. More than […]