Bloomberg Oil dropped towards the lowest level since 2003 as demand plunged as governments froze economic activity to combat the coronavirus, and prospects for a Opec-Texas production deal faded. Futures in London fell 5.6% to near $25 a barrel as some traders estimate crude demand will collapse by as much as 20 million barrels a day this year. Texas Railroad …

Bloomberg Africa needs an immediate emergency economic stimulus of $100 billion to combat the impact of the coronavirus pandemic and almost half of that could come from waiving interest payments for countries on the continent, according to the United Nations Economic Commission for Africa (ECA). The waiver of interest payments, estimated at $44 billion for 2020, and the possible extension …

Bloomberg The UK economy will contract at least 10% in the first half of the year as the fallout from the coronavirus hammers output, according to Bloomberg Economics’ estimates. In a report released on Monday, senior UK economist Dan Hanson said support provided by the Bank of England and the Treasury should prompt a turnaround in the second half of …