Economia.Expert

German economy shrank 1.8% in first quarter due to COVID lockdown

e German economy probably shrank by 1.8% in the first quarter because of COVID-19 restrictions, leading economic institutes said on Thursday as they revised their joint growth forecast for Europe's…

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Hopes rise for Britain’s summer getaway season

Hopes that the great British getaway would be possible this summer grew on Wednesday, with easyJet predicting that most of Europe would be open for travel and British Airways confident…

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SsangYong Motor in receivership

South Korea's SsangYong Motor has been put under court receivership, the Seoul Bankruptcy Court said on Thursday, in an attempt to rehabilitate the car maker after majority owner Mahindra and…

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IEA ups oil demand forecast as vaccinations brighten outlook

Vaccine rollouts are brightening the outlook for global oil demand, the International Energy Agency (IEA) said on Wednesday, though rising cases in some major oil-consuming countries show a recovery may…

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Qantas sees domestic business travel recovery 3 months behind leisure market

Australia's Qantas Airways Ltd has seen domestic leisure travel rebound to pre-pandemic levels, but demand in the corporate travel market is lagging about three months behind, its chief executive said.…

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EasyJet sees more flying from late May

British airline easyJet said it expected to start to fly more from late May onwards, shrugging off worries about a third wave of COVID-19 infections in continental Europe which have…

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European business travellers say set to fly less after COVID-19

Four in 10 European business travellers plan to fly less after COVID-19 travel restrictions are fully lifted, a survey showed on Monday, with many intending to stick to video conferences.…

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High stakes at sea in global rush for wind power

Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names…

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Suez Canal may expand southern channel, chairman says

The Suez Canal Authority is considering expanding the southern section of the waterway where the container ship Ever Given became stranded, its chairman said. It is also looking into procuring…

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FELTOM Deeply Concerned About Industry’s Future

FELTOM expressed its disappointment following the recent announcement made by the Superintendent of Public Health delaying the opening of ELT schools. While this is having a detrimental impact on the…

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Digital pound would boost post-Brexit City of London, think-tank says

A digital pound must be at the heart of Britain's efforts to strengthen the City of London's global attraction as a financial centre after Brexit, think-tank CityUnited Project said on…

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U.S. adds Chinese supercomputing entities to economic blacklist

The U.S. Commerce Department announced it was adding seven Chinese supercomputing entities to a U.S. economic blacklist for assisting Chinese military efforts. The Commerce Department said the seven were "involved…

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China will take necessary measures to uphold rights of Chinese companies

China said on Friday it would take necessary measures to uphold the rights and interests of Chinese companies, after the United States added Chinese supercomputing entities to an economic blacklist.…

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China pulls German trade up, but Brexit hits UK business

German exports rose in February, boosted by surging trade with China in a fresh sign that factories are busy in Europe's largest economy despite a sharp drop in trade with…

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Holidays for the rich: airlines criticise Britain’s travel restart plan

Airlines slammed Britain's plans for restarting international travel, saying that expensive testing requirements for trips to low-risk countries would mean that only wealthy people could take holidays abroad. Under government…

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China halts new enrollments at business school backed by Jack Ma

Beijing authorities have forced an elite business school backed by Alibaba Group Co Ltd founder Jack Ma to halt enrollments, the Financial Times said on Friday, citing sources familiar with…

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Jet2 cancels holidays until late June, blames UK uncertainty

British travel company Jet2 said it was suspending flights and holidays until June 23 given the ongoing uncertainty around travel from the United Kingdom. Britain has said it will provide…

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UK construction sees sharpest jump since 2014 in March – IHS Markit

British construction activity grew at the fastest pace since 2014 last month, boosted by a restart in postponed hospitality, leisure and office projects as COVID-19 restrictions start to ease, a…

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UK firms step up hiring as lockdown nears end

British companies sharply stepped up hiring and offered higher pay to new staff last month as they grew more confident about economic recovery and prepared for COVID restrictions to ease,…

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MacBook, iPad production delayed as supply crunch hits Apple

Production of some of Apple Inc's MacBooks and iPads has been postponed due to a global component shortage, the Nikkei reported on Thursday. Chip shortages have caused delays in a…

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IMF chief worried about middle-income countries, urges expanded definition of ‘vulnerable’

The head of the International Monetary Fund said she would discuss with IMF members whether they back offering low- and no-interest financing to middle-income countries hit hard by the pandemic,…

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Facebook launches public test of live Q&A product Hotline

Facebook Inc started public testing of a new application dubbed Hotline on Wednesday, where creators can speak and take live questions from an audience. This Q&A product combines audio with…

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UK companies rebound in March ahead of lockdown lifting – PMI

British businesses saw a strong rebound in orders in March as they prepared for the relaxation of coronavirus restrictions this month, and ramped up their hiring for the first time…

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Sweet-toothed Britons spend 150 mln pounds more on Easter treats

Britons spent 439 million pounds ($608 million) on confectionaries ahead of Easter in the four weeks to March 27, a 34% rise compared with the same period in 2020, industry…

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Ryanair narrows loss forecast for year to end-March

Ryanair on Wednesday said it expected to post a smaller than expected loss in the year to the end of March and said the Irish airline expected to be "close…

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Swiss watchmakers go digital to show off new products, revive sales

Luxury Swiss watchmakers, usually not big fans of online retailing, are launching a new all-digital Watches & Wonders event on Wednesday to show off their latest products, hoping to revive…

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Sweden to bring in banks in next stage of e-krona project

Sweden’s central bank will bring in banks in the coming year to test how its proposed digital currency - the e-krona - could handle commercial and retail payments in the…

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Daimler to hit the gas on electric shift after strong start to 2021

Mercedes-Benz maker Daimler said on Wednesday it will accelerate its shift to electric cars as it builds on a strong start to 2021 despite a global semiconductor chip shortage, but…

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Gold steady as inflation bets counter firm U.S. dollar, yields

Gold prices eased on Monday as U.S. Treasury yields rose and global stocks gained after better-than-expected jobs data in the United States fuelled optimism over a swift economic recovery. Spot…

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05

Apr

UPDATED: LG becomes first major smartphone brand to withdraw from market

South Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone…

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Euro zone factory activity soared in March but supply issues loom

Euro zone monthly factory activity growth galloped at its fastest pace in the near 24-year history of a leading business survey last month, but supply chain disruptions and renewed lockdowns…

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Losses from Ever Given blockage of Suez Canal could reach $1 billion

The chairman of the Suez Canal Authority said, in an interview with Egypt’s Sada El-Balad TV, that losses and damages from the Ever Given blockage could reach around $1 billion.…

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COVID-19 pushes Lloyd’s of London to $1.2 bln loss in 2020

The coronavirus pandemic pushed Lloyd's of London to a 900 million pound ($1.24 billion) pre-tax loss in 2020, compared with a 2.5 billion pound profit in 2019, the commercial insurance…

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Croatia’s 2020 public debt rises to 89.1% of GDP

Croatia's public debt climbed to 89.1% of gross domestic product (GDP) by the end of last year, versus 72.8% a year before, the central bank said on Wednesday. "According to…

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Volkswagen admits marketing prank, pulls fake release on name change

Volkswagen AG's U.S. unit issued a false news release claiming it would rename its U.S. operations as "Voltswagen of America" in a marketing stunt designed to call attention to its…

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OPEC+ panel lowers oil demand growth forecast

OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market's recovery amid a wave of new coronavirus lockdowns, a report from…

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Dutch economic growth slower than expected in 2021

Economic growth in the Netherlands is set to be slower than anticipated in 2021 due to the ongoing coronavirus pandemic but could accelerate next year if vaccines help to get…

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German jobless falls by 8,000 in March

German unemployment fell in March, data showed on Wednesday, as lockdown measures to curb the coronavirus Europe's biggest economy had a limited effect on the labour market. The Federal Labour…

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Ryanair to open new base in Croatian capital Zagreb in September

Ryanair will open a new base in the Croatian capital Zagreb from September, the company revealed. “There will be 12 new routes and 36 weekly flights from Zagreb,” Ryanair Chief…

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LinkedIn embraces global trend for gender pronouns option on profiles

Professional networking site LinkedIn will let users add their preferred gender pronouns to accounts in the United States, Britain, Sweden, Canada and Ireland from Wednesday in a nod to global…

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Microsoft targets 50,000 jobs with LinkedIn ‘re-skilling’ effort

Microsoft Corp said that it aims to place 50,000 people in jobs that require technology skills as part of a broader push being undertaken with its professional networking website LinkedIn…

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Biden kicks off effort to reshape U.S. economy with infrastructure package

President Joe Biden on Wednesday will call for a dramatic and more permanent shift in the direction of the U.S. economy with a roughly $2 trillion package to invest in…

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Italy says talks with EU on Alitalia stalled

Italian Industry Minister Giancarlo Giorgetti said on Tuesday that negotiations with the European Commission over how to relaunch ailing carrier Alitalia were stalled and the government needed a new plan…

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Gold faces headwinds from strong China factory data

Gold prices inched lower on Wednesday as data showing a faster-than-expected growth in China's factory activity weighed on the metal's safe-haven appeal, while a surge in U.S. Treasury yields added…

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Euro zone banks have enough capital to withstand pandemic hit -IMF

Euro zone banks have enough capital to withstand the impact of the COVID-19 pandemic and finance the economic recovery, even though they are highly exposed to sectors hard hit by…

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Suspension of Suez Canal traffic deepens global container crunch

The suspension of traffic through the Suez Canal has deepened problems for shipping lines that were already facing disruption and delays in supplying retail goods to consumers, shipping sources said.…

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Moody’s – Global business travel unlikely to recover before 2024

Airlines will suffer as the COVID-19 pandemic fuels global business travel uncertainty, with recovery unlikely before 2024 as virtual meetings may replace travel, Moody's Investors Service said in a report…

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Tunisia faces exodus of Western oil giants

Royal Dutch Shell and Italy’s Eni are seeking to sell their oil and gas operations in Tunisia, industry sources said, as the North African country struggles to attract new investments…

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France’s debt burden hits record in 2020 but comes in below govt expectations

France posted a record public sector deficit and debt last year, but these came in below expectations after the economy contracted by less than foreseen in the government's budget planning,…

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Nike, Adidas join brands feeling Chinese social media heat over Xinjiang

Nike and Adidas came under attack on Chinese social media over past comments the fashion brands have made about labour conditions in Xinjiang, part of a diplomatic row between China…

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Aviva sells Polish business to Allianz for $2.9 billion

Aviva has sold its Polish operations to Germany’s Allianz for 2.5 billion euros ($2.94 billion) in cash, completing a programme to sell European and Asian assets begun last year, the…

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Suez ship congestion could delay 10 LNG deliveries to Europe

Dislodging a container ship blocking the Suez Canal, one the world’s busiest trade routes, may delay delivery to Europe of around 1 million tonnes of liquefied natural gas (LNG) on…

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UPDATED: Suez blockage sets shipping rates racing, oil and gas tankers diverted away

Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway as…

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Oil prices rebound on fears Suez Canal blockage may last weeks

Oil prices bounced back on Friday from a plunge a day earlier on concerns that a large container ship that ran aground in the Suez Canal may block the vital…

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China’s Xiaomi profit surges as it grabs market share after Huawei retreat

Chinese smartphone maker Xiaomi Corp on Wednesday reported a 36.7% rise in fourth-quarter net profit, as its major Android rival Huawei steadily retreats from the global market due to U.S.-led…

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Toyota, Isuzu revive capital tie-up with focus on connected trucks

Toyota Motor Corp and Isuzu Motors Ltd announced a capital alliance on Wednesday, reviving a partnership to bolster their competitive edge in connected, commercial vehicles. Toyota truck unit Hino Motors…

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Benetton Group closes flagship store in central Milan to focus on smaller shops

Italian clothing retailer Benetton Group has shut down its flagship store in the centre of Milan, it said, in order to focus on smaller shops after the COVID-19 pandemic. “The…

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