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Economic impact of virus widens as Ericsson exits trade show

Economic impact of virus widens as Ericsson exits trade show

Technology
More than a month after the outbreak of China's deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economyBy The Associated PressFebruary 7, 2020, 7:32 PM3 min readBEIJING -- More than a month after the outbreak of China's deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economy. In a report Friday, the Federal Reserve warned that the virus represents an international risk. “The recent emergence of the coronavirus," the Fed said in a semiannual report on monetary policy, "could lead to disruptions in China that spill over to the rest of the global economy.” Economists note that the longer the outbreak and the lockdown of Wuhan and other Chinese cities last, the wo
‘Worrisome’: China’s economic growth slows to 27-year low

‘Worrisome’: China’s economic growth slows to 27-year low

Business
China's economic growth slowed to 6% year-on-year in the third quarter, amid a trade war with the US and fading demand at home and abroad.This means the world's second-largest economy grew at its weakest pace in at least 27 years and at a rate below the 6.2% growth seen in the second quarter. Mao Shengyong, spokesman for China's National Bureau of Statistics, said: "Generally speaking, the national economy maintained overall stability in the first three quarters."However, we must be aware that given the complicated and severe economic conditions both at home and abroad, the slowing global economic growth, and increasing external instabilities and uncertainties, the economy is under mounting downward pressure."China is expected to record 6.2% growth over the year, according to a Reuters pol...
Lead trapped in Arctic ice reveals economic impact of wars, plagues

Lead trapped in Arctic ice reveals economic impact of wars, plagues

Science
July 10 (UPI) -- Today, economists use a wide variety of sophisticated tools to measure economic output. But how does one measure economic activity that happened 1,000 years ago? One way is measure changes in lead pollution levels trapped in ancient ice. Using Arctic ice cores, an international team of researchers successfully retraced the economic ups and down of the last 1,500 years. The findings, published this week in the journal Proceedings of the National Academy of Sciences, revealed the the economic impacts of wars and plagues. "We all were surprised at how similarly lead pollution varied across this half of the Arctic and how closely those variations coincided with known historical events," Joe McConnell, director of DRI's Ultra-Trace Ice Core Chemistry Laboratory at the Desert ...
Banking sector performance improved due to fall in bad loans in 2018-19: Economic Survey

Banking sector performance improved due to fall in bad loans in 2018-19: Economic Survey

Finance
NEW DELHI: The performance of banking sector has improved as bad loans declined in the last fiscal, but financial flows are constrained due to fall in money raised from capital markets and stress in the non-banking financial sector, the Economic Survey 2018-19 said Thursday. The monetary policy witnessed a U-turn over the last year. The benchmark policy rate was first hiked by 50 basis points (bps) and later reduced by 75 bps due to weaker than anticipated inflation, growth slowdown and softer international monetary conditions, the survey, tabled by Finance Minister Nirmala Sitharaman in Parliament, said. "The performance of the banking system has improved as non-performing asset (NPA) ratios declined and credit growth accelerated. However, financial flows to the economy remained constrain...