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World economy on verge of recession

World economy on verge of recession

The largest global financial institutions are revising their outlooks for the current year due to the coronavirus outbreak. Another gloomy forecast has been presented by the International Monetary Fund. “The economic impact is and will be severe,” IMF Managing Director Kristalina Georgieva said. This short quote from her speech accurately conveys the Fund's global growth forecast.
16:10 2020-03-27 UTC+00
RUB shows worst performance amid oil market crash

RUB shows worst performance amid oil market crash

This March, the Russian ruble became the worst-performing currency in the world, having plunged by 28.59% in a single session against the US dollar. The ruble hit a four-year low against its American counterpart as oil prices crashed overnight following the breakdown of the Russia-Saudi Arabia pact to limit production.
14:09 2020-03-27 UTC+00
Apple’s stock hit by COVID-19

Apple’s stock hit by COVID-19

The COVID-19 pandemic has already made a devastating impact on the global economy. One of the corporations which have fallen prey to the coronavirus is Apple Inc.  According to Nasdaq's official listing, the market capitalization of the iPhone maker sank below $1 trillion at the close of markets on March 23. The same was last recorded in October 2019.
14:07 2020-03-27 UTC+00
Germany launches aid package to shield economy from coronavirus

Germany launches aid package to shield economy from coronavirus

The authorities of Germany have announced an unprecedented state program worth up to 750 billion euros to support the European largest economy and its citizens. For this, Berlin will have to take on new debt for the first time in the last six years. The funds will be used to mitigate the damage of the coronavirus outbreak to the country's economy and the citizens' financial well-being.
12:23 2020-03-27 UTC+00
RUB gets stuck at historic lows for long

RUB gets stuck at historic lows for long

The severe downturn in the global oil market has dealt a blow to commodity currencies, including the Russian ruble. Day after day, both oil quotes and commodity currencies are plumbing new depths. A few days ago, energy investors were appalled that Brent crude had plummeted below $30 a barrel. Analysts assumed that oil prices had reached the bottom. In fact, crude oil took a deeper nosedive.
11:26 2020-03-26 UTC+00
Apple fined €1.1 billion in France for anti-competitive actions

Apple fined €1.1 billion in France for anti-competitive actions

For American tech giant Apple Inc., this year seems to be full of hardship. First, Apple had to shut down its stores in China and other countries due to the COVID-19 outbreak. Another blow came from the French Competition Authority (ADLC) which imposed a heavy fine of €1.1 billion on the company for anti-competitive behavior.
09:02 2020-03-26 UTC+00
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