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ECONOMY

New three trillion dollar US relief bill passes first stage

Democrats pushed a massive three trillion dollar (£2.48 trillion) coronavirus relief bill through the US House of Representatives on Friday, an election-year measure designed...

Germany’s economy goes into recession as lockdown measures inflict pain

The German economy shrank by 2.2% in the first quarter compared with the previous three-month period as shutdowns in the country and beyond started...

Jerome Powell calls for united response and warns of prolonged recession

Federal Reserve chairman Jerome Powell warned of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White...

UK moving sharply into recession, says Bank of England governor

Britain is very sharply moving into recession due to the coronavirus crisis, Bank of England governor Andrew Bailey has said. Mr Bailey’s comments echoed those...

Coronavirus sees UK economy plunge 2% in first quarter after record March fall

The UK economy shrank by 2% in the first quarter of 2020 as the coronavirus crisis saw activity contract at a record pace in...

Property viewings included as reasonable excuse for leaving the house in England

Property viewings and visits to estate agents may be seen as a reasonable excuse for leaving the house, under regulations coming into force in...

China suspends penalties on more US goods in trade truce

China has suspended punitive tariffs on more US goods including radar equipment for aviation amid pressure from President Donald Trump to buy more imports...

US unemployment rate soars to 14.7%

The US unemployment rate hit 14.7% in April, the highest since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss...

More than 33 million apply for US unemployment benefits

Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the coronavirus outbreak deepened the worst US...

EU forecasts recession of ‘historic proportions’

The European Union has predicted a recession of “historic proportions” this year due to the impact of coronavirus, with a drop in output of...

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