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.
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.
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.
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.
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.
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.
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.