WASHINGTON, April 27 — US businesses hit by the coronavirus are reporting declines in sales and investment for the first time since the 2008 global financial crisis, according to a survey released today. And it is uncertain when conditions will improve, with about 30 per cent of respondents...
The report was the latest indication of the headwinds to the American economy caused by the pandemic, which has slammed major industries, undermining economic growth, while causing about 26 million people to file new claims for jobless benefits since mid-March. — AFP pic
“Respondents report that last quarter was the worst since the global financial crisis for sales, profit margins, prices, and capital spending,” the survey’s chair Megan Greene said. For the first time since the global financial crisis beginning in 2007, the survey reported the majority of firms seeing sales decrease rather than increase over the previous three months. A similar number expected declines in capital spending expectations.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US airlines received US$12b in aid so far, says Treasury | Malay MailNEW YORK, April 26 ― The Trump administration said Saturday that it has disbursed US$12.4 billion (RM54 billion) to 93 air carriers to help them preserve jobs as the sector struggles to survive the effects of the Covid-19 pandemic. In a statement, the Treasury Department said it would “continue...
Read more »
US economy faces historic shock, with 16pc joblessness possible, says Trump adviser | Malay MailWASHINGTON, April 27 — The shuttering of the US economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16 per cent or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser...
Read more »
Mount Rushmore drawing visitors escaping US virus lockdowns | Malay MailKEYSTONE, April 26 ― The steep and winding roads leading up to the iconic Mount Rushmore memorial are deserted these days. This mecca of tourism in South Dakota, which ordinarily swarms with tourists, is now drawing only the occasional handful of visitors desperate to escape their...
Read more »
Asia shares rally as BoJ buys more bonds; US crude skids | Malay MailSYDNEY, April 27 — Asian shares bounced today as the Bank of Japan (BoJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, but the recent weak run in the global oil price showed no signs of ending. MSCI’s broadest index of Asia-Pacific shares outside Japan...
Read more »
Don’t blame us for spreading Covid-19 in Selayang, migrant workers plead | Malay MailKUALA LUMPUR, April 27 — Migrants working at the Selayang wholesale market have expressed their disappointment at being blamed for the spate of Covid-19 cases in the area, amid vitriol by locals on social media, especially against the Rohingya community. Speaking to Malay Mail during its recent...
Read more »
Venezuelan oil price falls to US$9.90, lowest level in 20 years | Malay MailCARACAS, April 25 ― The price of Venezuelan oil has fallen to its lowest level in more than two decades to just US$9.90 (RM43.16) a barrel, the oil ministry said yesterday. The ministry said the price between Monday and yesterday was 70.62 Chinese yuan, a level that has not been seen since 1998...
Read more »