Bloomberg Spain’s economy could contract this year by more than 12% in a worst-case-scenario forecast by the country’s central bank, the first official figures that spell out the potential toll of the coronavirus pandemic on the European Union’s fourth-largest economy. The economic shock could push the unemployment rate to as high as 21.7% this year, undoing gains achieved in the ...

Bloomberg Germany has pledged 2 billion euros ($2.2 billion) to help its beleaguered startups, but the policy has stalled after the country’s governmental departments failed to agree on who has to pay. More than two weeks after the aid plan has been announced, Germany’s finance and economy ministries are yet to find common ground over who is responsible for paying ...

Bloomberg The biggest US companies will slash their cash spending this year amid the uncertainty of the coronavirus pandemic, according to a report by Goldman Sachs Group Inc. “We forecast S&P 500 cash spending will decline by an annual record 33% during 2020 as firms prioritize liquidity in a worsening economic environment,” strategists led by David Kostin wrote in a ...