Bloomberg The French and Spanish economies plunged into record contractions and German unemployment climbed more than expected amid virus shutdowns that are pushing Europe into its deepest recession of the post-war era. France shrank 5.8%, the most since 1949, with Spain suffering a 5.2% drop in GDP. The figures highlight the dramatic effect of government-ordered shutdowns as just two weeks ...

Bloomberg UK homebuilders are starting to pull out of deals to buy land as they brace for a hit to demand. Inland Homes Plc, a firm that specialises in getting urban sites ready for construction, said on Thursday that three deals with large publicly traded homebuilders had been aborted because of the coronavirus pandemic. The cancelled deals show how developers ...

Bloomberg A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index (PMI) fell to 31.3 in April, down from 47.5 in March, IHS Markit said on Thursday. The median estimate of eight economists surveyed by Bloomberg was for 40.5. “Output and new orders contracted ...