News Page 2

South Korea lowers 2020 economic growth prediction to just 0.1%
South Korea lowers 2020 economic growth prediction to just 0.1%

New growth target marks the slowest growth since contraction seen in 1998

Ramla Soni
Brexit talks go down to the wire

Sterling and London stocks were higher this morning as UK and European Union negotiators prepared for a fresh round of talks starting on 2 May. Both sides seem deadlocked over key issues concerning Britain’s future trading relation with the 27-nation bloc.

Dan Atkinson
Renault announces 14,600 job cuts in €2bn cost-cutting plan

French carmaker hammered by Covid-19 economic crisis

Lawrence Gash
Glencore chairman defends miner’s climate strategy

Tony Hayward under pressure following Norwegian wealth fund divestiture

Lawrence Gash
Google looks to acquire stake in India’s Vodafone Idea

It’s eyeing up a 5 per cent stake in Vodafone Idea

Ramla Soni
Grayscale buys 1.5 times the number of Bitcoin mined since halving

New research suggests world’s largest crypto asset manager accelerating its BTC accumulation strategy

Lawrence Gash


EasyJet to axe 4,500 jobs

The budget carrier will begin an employee consultation process on its proposals to reduce staff numbers by up to 30 per cent

Ramla Soni
Chevron to cut up to 15 per cent of worldwide workforce

Company was among the first to make significant budget cuts as oil demand plummeted

Ramla Soni
Oil: signs of a price recovery
Oil: signs of a price recovery

Crude prices have slumped since the start of the year as the coronavirus has led to widespread economic lock-down. But traders seem now to be anticipating a recovery in demand for “black gold”.

Dan Atkinson
Tesla cuts its EV prices by 6 per cent in the US

Tesla has slashed prices of its electric vehicles by 6 per cent in North America following a decline in auto demand during the coronavirus lockdown

Ramla Soni
Russia mulls oil strategy

Major oil producer considers production cut extension but approves 2022 drilling plan

Lawrence Gash
Dollar edges higher as yuan slips amid Hong Kong protest woes

The dollar gained value as worries about the US response to China’s proposed security law and renewed protests in Hong Kong supported safe-haven demand for the greenback

Ramla Soni
‘No timetable’ for digital yuan launch, says Yi

Governor of China’s central bank quashes rumours of imminent launch of digital yuan

Lawrence Gash
Tencent announces $70bn tech investment

Major investment in five-year plan for new technology infrastructure dwarfs commitments of Chinese rivals

Lawrence Gash
European and UK stocks surge after lockdown measures eased
European and UK stocks surge after lockdown measures eased

Gains on the STOXX 600 and FTSE 100 indicate increased optimism that the coronavirus-hit global economy may be returning to some kind of normality.

Ramla Soni