Bloomberg Leaders need to do more to secure a quick and sustainable recovery for the global economy, according to the World Economic Forum (WEF). In a survey of almost 350 risk professionals, the Geneva-based group said that two-thirds identified a drawn-out downturn as the greatest risk now facing the world over the coming year and a half. The pandemic has ...

Bloomberg While uncertainty abounds in economic forecasting, US unemployment will likely stay “severely” elevated well into next year, according to a report by two economists at the Federal Reserve Bank of San Francisco. The jobless rate has already climbed to historic levels in just two months following the onset of the coronavirus-induced economic lockdown. A return to low unemployment will ...

Bloomberg European car sales virtually stopped in April, dropping the most on record after the coronavirus halted production and closed dealerships from Spain to Germany. Passenger vehicle registrations in the European Union, the European Free Trade Association and the UK fell 78% year-over-year. Companies sold just 292,182 cars — the lowest number since data-gathering began in 1990, and a further ...