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EU restrictions on national budgets that were suspended because of the Covid-19 pandemic will not apply again until 2022 at the earliest, the EU's economy chief has confirmed, as a resurgence in cases adds to an already very uncertain outlook. Brussels took the unprecedented step of activating an escape clause...
TikTok is the go-to social media app for American teens, the place where they post their latest dance videos, slam dunks, or — in the case of those who used it to try to thwart US president Donald Trump’s June rally in Tulsa — conduct their political activism. It...
The writer is a professor of economics and public policy at Oxford’s Blavatnik School of Government African economies were beginning to catch up with the rest of the world. Four well-led countries — Ethiopia, Ghana, Rwanda and Senegal — were recreating in Africa the processes that transformed the east Asian...
The writer is the founding director of the Institute for Innovation and Public Purpose at University College London Two weeks ago, the European Council summit concluded with a historic agreement on a recovery fund. It represents a turning point for the EU: for the first time, the bloc will be...
August is typically a quiet month for government bond sales in Europe as nations take a summer break in their issuance calendars — but not this year. Scarred by the coronavirus pandemic, Germany, France and Spain will sell up to €22bn of bonds over the next two weeks, according...
From making beds in Hong Kong to building multi-star resorts in Dubai, migrant workers help underpin two economies. They provide cheap labour for the rich world and vital income for poorer countries. Remittances last year overtook foreign direct investment as the biggest source of external financing to these nations,...
South Africa’s central bank governor has defended its response to the coronavirus economic downturn in Africa’s most industrialised nation in the face of growing calls from politicians and trade unionists to deepen its rate cuts and buy up more government bonds. South Africa, which has recorded more than half a...
Groupon’s quarterly loss expands to £55.28 million in the fiscal Q2. The company tops analysts' estimates for earnings and revenue. Groupon announces 2nd round of layoffs to start in August. Groupon Inc. (NASDAQ: GRPN) said on Thursday that its financial results for the second quarter came in stronger than what the...
Companies could shift a quarter of their global product sourcing to new countries in the next five years, according to a new study which warns that rising threats to supply chains are taking a heavy toll on profits.  Goods worth $2.9tn-$4.6tn, or 16-26 per cent of global exports in 2018,...
Central bankers have spent years warning of the perils of excess corporate debt. But their solution to this year’s coronavirus storm in financial markets has led to even more of it.  It is the Catch-22 of post-2008 policymaking, and of now post-pandemic policymaking, too. To stave off a debt crisis,...