Bloomberg The European Union’s (EU) executive arm said this year’s recession may be much worse than previously anticipated, proposing a suspension of the bloc’s draconian fiscal rules to cushion the fallout from a deadly viral outbreak that has brought its economy to a halt. “Assuming an extension of the health crisis up to the beginning of June or beyond, the ...

Bloomberg The US risks losing $4 trillion in corporate revenue on the back of the novel coronavirus without “meaningful fiscal or monetary intervention,” according to the world’s biggest hedge fund. The loss would shrink the economy by more than 6%, executives at Bridgewater Associates wrote in a report. “We see the most extreme decline occurring in the second quarter, where ...

Bloomberg The cries of London’s iconic newspaper vendors are being silenced because the coronavirus is forcing millions of commuters to stay home and advertisers are snapping shut their wallets. The Evening Standard newspaper, which distributes about 800,000 free copies a day in the capital, said it will pivot to home delivery to reach workers who would normally pick up the ...