UK pound sterling falls to 37-year low as recession looms
24 September 2022 | 2:16 pm
The British pound has fallen to its lowest level in decades against the US dollar, amid fears over runaway inflation and recession. The government has announced a drastic plan to cut taxes, claiming it will boost growth.
15 Apr 2020
The World Bank says it expects the economy of sub-Saharan Africa to fall sharply from 2.4 per cent in 2019 to a contraction of between 2.1 to 5.1 per cent in 2020, the first recession in the region over the past 25 years. Femi Oladehin, Partner, Investment Banking at Argentil Capital Partners joins CNBC Africa for more.
15 Apr 2020
The global economy is facing its worst recession since the 1930s. That’s according to the International Monetary Fund, which has sharply cut its 2020 forecast because of the coronavirus pandemic and lockdowns. The IMF predicts a 3 percent contraction for the global economy this year - describing "The Great Lockdown" as a crisis "like no other". The Fund has called on governments to take "swift and sizable" action to support the economic recovery.
30 Apr 2020
The French economy has officially fallen into recession, after a record contraction of 5.8 percent in the first three months of the year. The drop in quarterly economic output is the worst since records began in 1949. The national statistics agency Insee also reported that consumer spending plunged by almost 18 percent in March, while business investment and output from the construction and manufacturing industries also fell. The pandemic has hit economies across Europe, with new figures showing the eurozone registered a record drop in growth of 3.8 percent in the first quarter.
1 May 2020
The International Monetary Fund has warned the world is facing the worst recession since the Great Depression of the 1930s. The global economy has changed dramatically in the past 90 years, so what does a deep recession look like in 2020? Policymakers are doing their best to limit the impact of lockdown measures, but when can a recovery start, and what state will the economy be in a year from now? We speak to Ludovic Subran, Chief Economist at Allianz & Euler Hermes.
EFCC donates property seized from Diezani to Lagos for isolation centre, Germany in recession and more
15 May 2020
Here is why you should pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Saturday.
12 Jun 2020
The EU's top Brexit negotiator has said the UK wants "the best of both worlds" in its future economic relationship with the bloc. The OSCE said the UK may feel the effects of the pandemic recession worse than EU members.
21 Jun 2020
The global economy is facing its worst peacetime crisis in almost 100 years, according to the Organisation for Economic Co-operation and Development. In its latest forecast, the OECD warns the effects of the slump will be "dire and long-lasting" after a 6 percent plunge in global growth this year.
6 Jul 2020
The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
15 Jul 2020
California has shut down businesses, including bars and gyms, after a spike in new cases of Covid-19. The new measures will hamper a recovery for the state's economy, which is the largest in the United States. It comes as lawmakers in Washington discuss a new stimulus plan and the federal budget deficit hit a record high in June. The gap between the government's income and expenditure for this fiscal year is likely to exceed $3 trillion.
12 Aug 2020
The UK economy has shrunk by 20.4% between April and June, when the coronavirus lockdown was at its most severe. Experts say the downturn brought on by the pandemic led to the biggest fall in quarterly GDP on record.
Burna Boy's new album Twice As Tall drops globally, FG predicts second recession in four years and more
14 Aug 2020
Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.
5 Sep 2020
The Australian economy has entered recession for the first time in almost thirty years, because of lockdown measures linked to the coronavirus pandemic. Household spending and hours worked fell between April and June, but government support for businesses and workers helped to prevent a drop in incomes. The 7 percent slump in GDP over the second quarter is the worst on record for the country. The Australian Finance Minister Josh Frydenberg described the impact of the virus on the economy as "devastating".
1 hour ago
Janusz Walus was due to be released on parole after serving nearly 30 years in prison for killing anti-apartheid leader Chris Hani. News of his expected release caused wide controversy.
1 hour ago
The leaders of Germany and Norway have said they will propose that NATO plays a role in protecting undersea infrastructure like gas pipelines or fiber optic cables. This follows the sabotage of the Nord Stream pipelines.
2 hours ago
Content creator Ben Black is trying to see all 64 games at the World Cup – the first time anyone has attempted such a feat.
3 hours ago
Bangladesh's ruling Awami League has a firm grip on the country's politics, and experts say electoral reform is needed to break the one-party monopoly.
3 hours ago
The German government has adopted an action plan against antisemitism that is being described as a milestone. But much depends on its implementation, with antisemitic hate speech on the rise.