The German economy suffered a deeper-than-anticipated slump at the start of the second quarter as coronavirus-related restrictions led to a collapse in demand. IHS Markit’s monthly Purchasing Managers’ Index plunged to Continue Reading
French economic activity shrank at a record pace in April amid a widespread shutdown of businesses to contain the coronavirus. IHS Markit’s monthly measure of service and manufacturing activity dropped to Continue Reading
For decades, the oil rigs rising out of the North Sea off Scotland provided Britain with hundreds of thousands of jobs in a thriving industry and billions in tax revenue. Continue Reading
The ruble fell more than any other major currency and borrowing costs surged as negative crude prices in the U.S. pointed to a period of unprecedented weakness for Russia’s key export Continue Reading
The European Union says its vaunted tourist industry is facing “staggering” figures of decline because of the coronavirus crisis and the bloc’s internal market commissioner wants the sector to be Continue Reading
At least 18 million European workers have been idled over the past month, according to government figures, as the new coronavirus pandemic cuts an ever-widening swath through the world’s job Continue Reading
Russia’s oil producers have been told by the Energy Ministry to cut their production by about a fifth to comply with the new OPEC+ deal starting May 1, said two Continue Reading
Germany’s solar panels produced record amounts of electricity, exacerbating market forces that were already hammering the profitability of the country’s remaining coal plants. Gin-clear skies over central Europe helped photovoltaic Continue Reading
Lukoil, the second-largest oil producer in Russia, plans to slash its crude oil production by 18 percent, or by 290,000 bpd, as part of the new OPEC+ production cut deal, Continue Reading
The true extent of the death toll in England and Wales from COVID-19 was 41% higher than the daily figures from the government indicated by April 10, according to data Continue Reading
