As COVID surges, UK to unveil new job protection plans

Britain’s finance minister will announce more job protection plans on Thursday, likely to include a new wage subsidy scheme, to stem unemployment in the pandemic-ravaged economy after existing safeguards expire next month.

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Funding SAA from fiscus would have serious implications: Report

A report by released by Intellidex Capital has warned that funding South African Airways (SAA) from the fiscus would have serious implications.

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Oil falls on fuel demand growth concerns as coronavirus lingers

Oil futures fell on Thursday on concerns the economic recovery in the United States, the world’s biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in European cases led to new travel restrictions there.

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Dollar shines as virus, economy woes hit risk assets

The dollar extended gains against most currencies on Thursday as signs of economic slowdown in Europe and the United States renewed concern about a second wave of coronavirus infections.

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China’s post-pandemic recovery has severe regional imbalances – Survey

While China’s coastal provinces and major cities are recovering from the coronavirus pandemic, firms in its poorer western and central provinces are falling well behind in metrics like output and sales revenue, a private survey showed on Thursday.

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German foreign, economy ministers in quarantine after coronavirus contacts

 German Economy Minister Peter Altmaier became the country’s second cabinet member to enter quarantine on Wednesday, writing that he would stay at home after coming into contact with the aide of another European Union minister who had tested positive.

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IMF official warns coronavirus will weigh on some economies for years

The coronavirus crisis is lasting longer than expected and it will take some countries years to return to growth, the No. 2 official at the International Monetary Fund said on Wednesday.

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Canada will spend big to combat coronavirus, says now is not the time for austerity

Canada’s Liberal government on Wednesday promised major new investments and policy initiatives to help the country recover from the coronavirus pandemic, saying “this is not the time for austerity”.

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Huawei chairman urges U.S. to reconsider ‘attack’ on global supply chain

Chinese telecom giant Huawei Technologies said on Wednesday its supply chain was under attack from the United States and called on Washington to reconsider its trade restrictions which were hurting suppliers globally.

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Oil edges up to $42, eyeing Libya and US inventories

Oil edged up to around $42 a barrel on Wednesday, supported by rising investor risk appetite and a report that U.S. fuel inventories fell, although rising crude supply and concern of stalling demand capped gains.

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Panday to fight corruption charges against him at Supreme Court of Appeal

Durban businessman Thoshan Panday hopes the Supreme Court of Appeal might come to a different decision from the High Court in Pietermaritzburg which dismissed his corruption and fraud charges.

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Strict regulations to be enforced at King Shaka Airport as international travel resumes

Authorities at Durban’s King Shaka International Airport in Durban say strict lockdown regulations will be enforced as the country prepares to re-open its international borders on October 1st.

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Dollar gains on virus woes, Aussie hit by rate outlook

The US dollar held onto gains against major currencies on Wednesday, supported by positive US economic data and concerns about a second wave of coronavirus infections in Europe and Britain.

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British pubs’ loss from COVID-19 curbs is supermarkets’ gain

Britain’s supermarket sector will be a beneficiary of new curbs on the opening hours of bars and restaurants to tackle a fast-spreading second wave of COVID-19, analysts said on Tuesday.

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Argentina economy plunges record 19.1% in second quarter on pandemic impact

Argentina’s economy contracted a record 19.1% in the second quarter versus the same period a year earlier as the coronavirus pandemic crippled production and demand, though was slightly better than analyst forecasts.

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