Bloomberg Europe is likely to experience a more severe recession than the rest of the world, but growth should start in the second half of the year, the European Central Bank’s vice president said. A genuine recovery might take until 2021, but the first signs of growth should be visible starting in the third quarter of the year, Luis de …

Bloomberg The UK government’s overdraft extension at the Bank of England (BOE) shows that the coronavirus pandemic will be so costly that even the country’s leadership is worrying about how to finance it. As the UK unleashes the biggest fiscal stimulus in decades, the concern is that its borrowing strains the ability of debt markets to soak it up, pushing …

Bloomberg Oversea-Chinese Banking Corp., (OCBC) Southeast Asia’s second-largest bank, has joined some global peers in pledging it won’t lay off staff due to the coronavirus pandemic. “We do not plan to have retrenchment exercise arising from this outbreak,” Chief Executive Officer Samuel Tsien said in a recent memo to employees. Despite the expected hit to the bank’s revenue growth, Singapore-based …