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A higher deficit will need to be factored in to new EU budget, says economist

Radhika Rao from DBS Bank discusses the European Union's economic response in combating the coronavirus pandemic.




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HSBC results were unsurprising given economic fallout from coronavirus, says analyst

HSBC's first-quarter earnings were not surprising given the global economic fallout of the coronavirus pandemic, says Filippo Alloatti, senior credit analyst at Federated Hermes. He also discusses the bank's decision to suspend share buybacks and dividend payouts for now.




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The coronavirus crisis is 'accelerating' the need for economic transformation: Citi

Miguel Azevedo of Citi discusses the coronavirus pandemic's impact on Middle Eastern nations, mergers and acquisitions, and economic activity in the Muslim holy month of Ramadan.




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Expat job losses in the UAE will add to troubles in the GCC: Economist

Chris Payne of Peninsula Real Estate Management says the real problem in the GCC is not unemployment, but population shrinkage, as expats will be the first to be furloughed in an economic downturn.




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Op-ed: Don't ruin the Fed's great work by rushing economy back before it's safe

A rush to open the economy could cause a second wave of infections, even as the Corona curve is flattening and possibly rolling over.




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Op-ed: Why financial literacy matters in an economic crisis

A new survey finds nearly 9 in 10 Americans say the COVID-19 crisis is causing stress on their personal finances, highlighting the importance of financial literacy.




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Op-Ed: Britain needs an economic model to guide the lifting of the coronavirus lockdown

Covid-19 has forced epidemiology and economics to become intertwined as never before.




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One of Main Street's biggest fears in economic reopening — new regulations

As small businesses across the country grapple with economic reopening, one of their biggest fears is that new regulations will be a net negative for post-Covid-19 Main Street.




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Op-ed: The market is not out of touch with reality, it's just showing how the economy has changed

The stock market still reflects what is going on in the economy, even as it has rebounded from its lows amid dismal economic data.




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Op-ed: Markets rising as economic numbers plunge is historically a setup for disappointment

We do not know how long investors will be patient, how long markets will rise on the policy response, how low the economic numbers will fall and for how long.




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EU still working on coronavirus stimulus as economy shrinks at record rate

Market players want to know how much the European Union will provide in additional coronavirus stimulus, but the institution in charge of developing it says it's still under negotiation.




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EU predicts region will contract 7.4% this year in worst economic shock since 1930s

In February, the European Commission estimated a 1.4% rise in GDP for the EU this year.




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Customs union has not helped UK firms, economist says

Gerard Lyons tells CNBC there is too much fear about leaving the EU without a deal.




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The economic decline in the first quarter reveals even weaker consumers and more unknowns ahead

Consumers reined in spending faster than expected in the first quarter, probably even before states issued stay-at-home orders.




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The way out of the recession depends on the level of consumer fear, economists say

Never before has the U.S. fallen into a recession led by the services sector, so there is no real road map for the recovery.




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April employment report is expected to show more than 20 million lost jobs and depth of pain as US economy shut down

April's jobs report will be horrific, and with the worst job losses ever, it should provide a critical look into the economy's collapse.




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Stocks are expected to trade the economy's reopening in the week ahead

Investors will watch the economy's reopening, Fed Chairman Powell, and and economic reports, including retail sales in the coming week.




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'Not the economy, stupid': A majority of Americans say 2020 election will be about other issues

A majority of Americans think a recession is likely in the next year, but amid historically low unemployment and a record stock market, most voters say the 2020 election will not be about the economy, according to a new CNBC Invest In You survey on money and politics released Monday.




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Credit Suisse's Michael Binetti on economic recovery

Michael Binetti, Credit Suisse Analyst, joins "Closing Bell" to discuss markets.




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States expanding liability protections to business as economies reopen

As businesses start to reopen, many are wondering if they can be legally responsible if someone gets sick. CNBC's Ylan Mui reports on liability protection efforts.




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It will take five years for the US to return to the economy of 2019: Harvard's Ken Rogoff

Ken Rogoff, Harvard University professor of public policy and economy, joins 'Power Lunch' to discuss the possibility of negative interest rates.




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April jobs report can shed light on how long the unemployment crisis could last, economist says

The April jobs report is expected to show the worst unemployment rate since the Great Recession. Michelle Girard, chief U.S. economist at NatWest Markets, and Beth Akers, senior fellow at the Manhattan Institute, joins "Squawk Box" to discuss what they expect.




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Why the markets and economy are diverging during the pandemic

As economic data deteriorates, the stock market is substantially off its March lows, and the Nasdaq is now flat year-to-date. Peter R. Orszag, CEO, Financial Advisory, Lazard, joins "Squawk Box" to discuss the disconnect, the reopening of America and what might never return to normal.




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US economy loses 20.5 million jobs in April, raising unemployment rate to 14.7%

CNBC's Steve Liesman breaks down the April jobs report, which came in at 20.5 million nonfarm payrolls lost in the month. This is the most historic job loss within a single month.




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San Diego Mayor Kevin Faulconer on reopening the economy

San Diego mayor Kevin Faulconer joins "Squawk Alley" to discuss the process of reopening cities and keeping infections down.




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For MLS, anything less than astronomical losses could be a victory

The league’s centralised structure should help during the pandemic but it is also vulnerable in a way that European competitions are not

The warning from Adrian Hanauer was stark. According to the Seattle Sounders majority owner, the shutdown caused by the Covid-19 pandemic could result in “astronomical” losses for Major League Soccer teams. “Hundreds of millions, billions, really big numbers,” he told the Sounder At Heart podcast earlier this month.

Hanauer’s remarks were in line with much of what is being said around the soccer world. The sport has never experienced anything like this with entire seasons on hold, soon to be abandoned in some cases, and competitions such as Euro 2020 and Women’s Euro 2021 pushed back a whole year. For all the meetings that have been held and contingency plans drawn up, nobody can guarantee when play will resume.

Continue reading...




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'There is a glimmer of hope': economists on coronavirus and capitalism

Greece’s former finance minister Yanis Varoufakis and Irish economist David McWilliams on the hope for a global new deal

David McWilliams: I think it is fair to say that capitalism – in the course of this unprecedented crisis – has been suspended. We are not going back to where we were, to business as usual. The state has come back, and this episode will not be forgotten by the electorate. I don’t know where we are going, but one thing seems clear: we are not going back.

Yanis Varoufakis: I like this phrase: capitalism has been suspended. The last time capitalism was suspended in the west was during the second world war, with the advent of the war economy: a command economy that fixed prices. The war economy marked the transcendence of the standard capitalist model.

The fact that Germany is now in the same pile of shit as the rest of us offers a glimmer of hope

My sense is that the period when you could travel, engage, move, we might have reached the end of that open period.

This is an edited version of a conversation that will appear in A Vision for Europe 2020: Nothing But an Alternative, published this month by Eris.

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Don't expect a snapback for the UK economy after lockdown is lifted | Larry Elliott

Recessions tend to centre on one part of the economy; coronavirus has hit them all. The road to recovery will be long

In a way, Britain should have been the country best prepared for the devastating impact of Covid-19 on the economy, because throughout 2019 barely a day went past without someone popping up to warn of the dangers of a cliff-edge Brexit.

But there are cliff edges and then there’s falling off the cliff, and not even the most pessimistic remainer would have been willing to predict what has happened since the UK went into lockdown at the end of March. While most of the attention has been focused – quite rightly – on the medical emergency, the economy has collapsed.

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Bank of England offers hope amid Covid-19's grim economic spectacle | Larry Elliott

Threadneedle Street says the economy hasn’t been as bad as this for 300 years – so it can only can get better

It’s hard to be all that cheerful when you are bracing yourself for the biggest annual contraction in the economy since before the South Sea Bubble crisis of 1720, but somehow or other the Bank of England has managed to find some nuggets of hope amid all the gloom.

To be sure, the short-term news from Threadneedle Street was as grim as everybody had expected. Having fallen by 3% in the first three months of 2020, activity is projected to drop by a further 25% in the second quarter and by 14% over the calendar year.

Related: Don't expect a snapback for the UK economy after lockdown is lifted | Larry Elliott

One of the two main definitions of recession in the UK is at least two quarters of negative economic growth. Judged by this yardstick, the UK was last in recession in 2008-09, when there were six consecutive quarters of negative growth. 

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UK unemployment to double and economy to shrink by 14%, warns Bank of England

Bank outlines scale of Covid-19 shock in 2020 with forecast for deepest recession in 300 years

The Bank of England has warned the British economy could shrink by 14% this year and unemployment more than double by spring as the coronavirus causes the deepest recession in modern history.

Leaving interest rates on hold at a record low of 0.1% as the economic crisis unfolds, the central bank said economic activity across the country had fallen sharply since the onset of the global health emergency and the lockdown measures to contain its spread.

Related: Don't expect a snapback for the UK economy after lockdown is lifted | Larry Elliott

Related: Bank of England warns UK economy could shrink 14% in 2020 amid Covid-19 downturn - business live

Related: Bank of England warns UK economy could shrink 14% in 2020 amid Covid-19 downturn - business live

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War and the weather: what caused the huge economic slump of 1706?

With biggest plunge in output in 300 years being predicted, we explore why the last great recession happened

Queen Anne was on the throne. Work had just started on Blenheim Palace in honour of John Churchill’s victories over Louis XIV’s French armies in the war of Spanish succession. The union between England and Scotland was imminent.

1706 is how far economic historians have to look back to find a slump bigger than the one that now threatens the country as a result of the Covid-19 pandemic.

Related: UK unemployment to double and economy to shrink by 14%, warns Bank of England

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'Get a grip': Mervyn King warns of Covid-19 threat to UK economy

Former Bank of England governor attacks government’s response to pandemic

Mervyn King, the Bank of England governor during the financial crisis, has warned that Britain’s economy will take longer than expected to recover from the coronavirus pandemic.

Launching an attack on the government over its emergency loan guarantee scheme for businesses struggling during the crisis, Lord King said ministers needed to urgently “get a grip” on the situation to prevent lasting damage to the economy.

Related: War and the weather: what caused the huge economic slump of 1706?

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Kotak Infrastructure & Economic Reform Fund- Direct Plan- Growth Option

Category Equity Scheme - Sectoral/ Thematic
NAV 15.786
Repurchase Price
Sale Price
Date 08-May-2020




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Kotak Infrastructure & Economic Reform Fund- Direct Plan- Dividend Option

Category Equity Scheme - Sectoral/ Thematic
NAV 15.606
Repurchase Price
Sale Price
Date 08-May-2020




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Kotak Infrastructure & Economic Reform Fund - Standard Plan-Growth

Category Equity Scheme - Sectoral/ Thematic
NAV 14.359
Repurchase Price
Sale Price
Date 08-May-2020




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Kotak Infrastructure & Economic Reform Fund - Standard Plan-Dividend

Category Equity Scheme - Sectoral/ Thematic
NAV 11.484
Repurchase Price
Sale Price
Date 08-May-2020




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Impact of COVID-19 on Indian Economy

Impact of COVID-19 on Indian Economy An Overview Impact on Indian Economy Demand Side Impact Supply Side Impact




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What is economic survey?

What is economic survey?




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Economist Letter to the Editor references Morrissey




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Economist Thomas Piketty: Coronavirus Pandemic Has Exposed the "Violence of Social Inequality"

As nearly 30 million Americans have filed for unemployment in just six weeks and millions worldwide face hunger and poverty, we look at the global economic catastrophe triggered by the pandemic and its impact on the most vulnerable. As the World Food Programme warns of a massive spike in global hunger and more than 100 million people in cities worldwide could fall into poverty, can this crisis be a catalyst for change? We ask French economist Thomas Piketty. His 2014 internationally best-selling book, "Capital in the Twenty-First Century," looked at economic inequality and the necessity of wealth taxes. His new book, "Capital and Ideology," has been described as a manifesto for political change.




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Astronomers May Have Found the Closest Black Hole to Earth

At just 1,000 light-years away, an object in a nearby star system could be our nearest known black hole—but not everyone is convinced

-- Read more on ScientificAmerican.com




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Q&A: Walter Kemmsies, JLL Economist and Chief Strategist

Logistics Management Group News Editor Jeff Berman recently caught up with Walter Kemmsies, economist and chief strategist for industrial real estate firm JLL. Their wide-ranging conversation covered various topics, including: the impact of COVID-19 on logistics and supply chain operations, inventory management shifts, and why now is a great time to be in industrial real estate, among others.




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Hugo Nomination Rumination

As I’ve mentioned on social media, I only have two works eligible for awards nomination from 2017: The Stone Sky, and my Uncanny short story Henosis. Last year was tough, so I didn’t get much writing done. I’m sure a lot of you can relate. But since people have asked for my thoughts on this… […]




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Six Degrees of Deuteronomy.

A.Z. Foreman (to quote his blog profile) “is a translator and poet who has been obsessed with languages and literature since childhood”; you should check out his translation blog, with lots of poems accompanied by his translations (and sometimes audio files of him reading the original) in languages from Arabic to Yiddish. But right now […]




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Brazil faces 'economic collapse' in 30 days due to lockdown, minister says

Brazil could face "economic collapse" in a month's time due to stay-at-home measures to stem the coronavirus outbreak, with food shortages and "social disorder," Economy Minister Paulo Guedes warned Thursday.




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Covid-19: French economic activity down 33 percent, Insee says

Economic activity in France picked up slightly over the last two weeks as the country prepares to emerge from a coronavirus lockdown, but it remains a third below normal levels, the INSEE official statistics agency said on Thursday.




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Violent protests against economic hardship in Lebanon

Protests against growing economic hardship erupted in Tripoli and spread to other Lebanese cities on Tuesday, with banks set ablaze and violence boiling over into a second night.




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Lebanon approves long-awaited economic rescue plan after months of unrest

The Lebanese government on Thursday approved a long-awaited plan to rescue the economy from its worst crisis in decades following a fresh wave of angry street protests this week. Nationwide protests broke out in October accusing the country's political class of corruption and mismanagement.




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Work and leisure return to Wuhan as Covid-19 fears and economic fallout linger

After 76 days under lockdown, China's Wuhan city is gradually returning to a new normal. But while Covid-19 infection rates have fallen, social distancing measures are still in place and the economic repercussions for the industrial hub are also becoming clear.