Tag "covid-19"
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Otaviano Canuto: Shapes of the Post-Coronavirus Economic Recovery
Data recently released on the first-quarter global domestic product (GDP) performance of major economies have showed how significant the impact of COVID-19 has been on economic activity and jobs, with large contractions across the board. The ongoing global recession is
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Caught in a Bind: Tax Avoiders Excluded from Corona Relief Funds
Consider a company that has furloughed a quarter of its workforce, and now intends to fire these 1,100 workers, all the while screaming for the UK government to throw it a £150 million lifeline yet unwilling to scrap a £267
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A Famine of ‘Biblical Proportion’
The worst humanitarian crisis since the end of World War II. That is how World Food Programme (WFP) Executive Director David Beasley described the impact of the corona pandemic on vulnerable people in countries suffering war and drought. According to
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Optimism in the Face of Disaster
Xavier Becerra Don’t apply for benefits, ask for a job. US unemployment centres are now hiring. In a single month, a virus invisible to the naked eye has wiped out a decade’s worth of job creation. In April, more than
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A Troubling Edict from Karlsruhe
The European Union is facing the sharpest contraction of economic output since its founding in 1957. This year, the EU’s GDP is set to shrink by 7.4 percent. The steepest declines occur along the northern rim of the Mediterranean in
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Private Equity Takes Care of Its Own
The creativity displayed by private equity fund managers when snapping up companies and squeezing out profits has apparently evaporated into thin air. The industry claims to have no clue how to help the companies sitting on its books. Most of
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Schalke 04 Fighting for Its Life and Soul
Ausgliederung. What wrecked the deep emotional bond between British football fans and their club is now coming to Germany: The privatisation of the beautiful game. Diehard supporters would probably prefer to describe the trend as a ‘corporate sell-out’ that changed
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When Even Warren Buffett Is Clueless
You can bet on America, says Warren Buffett, before admitting that even he does not know what comes next. The phrase that defined this years’ Berkshire Hathaway shareholder meeting was ‘I don’t know’. One of the world’s wealthiest self-made men
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Sell in May and Go Away
First the good news: The S&P 500 just finished its best month since January 1987 with a gain of 12.7 percent in April. Now for the bad news: The bellwether index is still some 16 percent down from the all-time
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The Primacy of Politics Returns
A celebrated political economist who received fifteen years of fame for identifying the housing bubble and predicting banking crisis of 2008-9 now seems to have lost hope. In a recent article, Nouriel Roubini presents ten reasons why he thinks the
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