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Tag: slowdown

WHO urges ‘extreme caution’ over coronavirus slowdown

WHO urges ‘extreme caution’ over coronavirus slowdown

World
An apparent slowdown in the spread of the coronavirus epidemic should be treated with "extreme caution", according to the head of the World Health Organisation (WHO)."This outbreak could still go in any direction," the WHO's director general, Dr Tedros Adhanom Ghebreyesus, said. Earlier, China reported its lowest number of new coronavirus cases in two weeks. Image: Medical staff collect samples from Chinese paramilitary police officers The country's national health commission said 2,015 new cases were counted on Tuesday, the second straight daily decline and down from nearly 3,900 a week ago.There have now been more than 45,000 cases worldwide of the disease, now named COVID-19, which has killed more than 1,100 people in China. ...
Carney sees ‘widespread slowdown’ as trade tensions deepen

Carney sees ‘widespread slowdown’ as trade tensions deepen

Business
By John-Paul Ford Rojas, business reporter Bank of England governor Mark Carney has warned that the global economy is in a "widespread slowdown", with "worrying" signs ahead amid sustained trade tensions.Mr Carney said Donald Trump's latest skirmishes with China, Mexico and Europe raised the prospect of these tensions being "far more pervasive, persistent and damaging" than previously expected. They risked dragging on growth globally and in the UK - where Brexit uncertainty was also increasingly weighing on the economy, he told an audience in Bournemouth.Mr Carney's comments helped pull the pound lower against the dollar and the euro as traders bet on a gloomy outlook from the Bank potentially making lower interest rates more likely. ...
Earnings and data could be proof that slowdown fears were overblown

Earnings and data could be proof that slowdown fears were overblown

Finance
Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut. Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies reporting so far have beaten expectations. Based on forecasts and actual reports, earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years. Some forecasters had projected an earnings decline of 4% or more. The equivalent of the economy's first-quarter report ...
China and US feel bite of trade war and slowdown

China and US feel bite of trade war and slowdown

Business
China's exports have plunged by a fifth while the US witnessed a cut in jobs growth in a sign of the two countries' trade war and global economic slowdown.Official figures show Chinese exports slumped by 20.7% in February from a year earlier. The sharpest fall in three years, coupled with a 5.2% drop in imports against a forecast 1.4%, has fuelled fears of a "trade recession", despite Beijing taking remedial action.While seasonal factors may have had an impact, the fall in exports was far bigger that the 4.8% expected by economists polled by Reuters.The bleak data for the world's second largest economy comes a day after the European Central Bank slashed growth forecasts for the region. Raymond Yeung, greater China chief economist at ANZ, said: "Today's trade figures reinforce our v...
Apple's top retail exec to leave amid iPhone sales slowdown

Apple's top retail exec to leave amid iPhone sales slowdown

Technology
Apple's top retailing executive is stepping down amid a slowdown in iPhone sales that has raised doubts about the company's future growth prospects. The shake-up announced Tuesday ends Angela Ahrendts' five-year stint overseeing Apple's 506 retail stores and e-commerce operations. She is being replaced by Deirdre O'Brien, a longtime Apple executive who also runs the company's human-resources department. Ahrendts will remain with Apple until April. During her 30 years at Apple, O'Brien also helped gauge product demand. That issue has become a problem now that customers are holding onto their current iPhones longer instead of buying the latest models. It's one reason Apple posted disappointing iPhone sales during the past holiday shopping season. Although Apple sells iPhones and other prod...