The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pandemic.
U.S. stock index futures slipped on Tuesday following the benchmark S&P 500 and Nasdaq's five-day rally, as investors weighed the risks to the economy from tens of thousands of new coronavirus cases nationwide.
Direct cash payments can improve financial security, boost consumer spending and may speed up the recovery, according to a letter from a group of economists calling on U.S. policymakers to keep providing direct cash payments to Americans until the economy is stronger.
Hong Kong's new National Security Law will shake up digital surveillance in the city, with strict new company compliance measures that echo the mainland's years-long crackdown on anti-government content.
European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound.
Deutsche Bank Chief Executive Christian Sewing said that positive momentum continued in the second quarter but that some areas of business will slow down in the second half of the year.
Big and mid-cap firms globally are expected to slash capital spending by an average 12per cent this year as they reel from the fallout of lockdowns and other measures imposed to rein in the coronavirus pandemic, analysts' estimates show.
A lobby group representing U.S. technology giants has said its members are not yet ready to make the first payment of the country's digital tax due this week, urging New Delhi to defer the move.
Britain can welcome foreign investment while also standing up for its values, business minister Alok Sharma said on Tuesday after China warned that a dispute over tech firm Huawei could threaten economic ties more broadly.
Bayer shares dropped 6per cent on Tuesday after a U.S. judge questioned the German company's proposed settlement to deal with future claims relating to allegations that its widely-used weedkiller Roundup caused cancer.
