However, the second wave in cases has crucially not led to a large increase in hospitalisations and deaths in Spain with infections being borne largely by the young. That has led Spanish authorities to resist harsher measures and could also help Westminster hold off from reimposing the most economically damaging restrictions if […]
downturn
Global oil market still reeling from price war and virus downturn
But ultimately, Russia’s risky geopolitical gambits, Saudi Arabia’s attempts to flood the market with oil, and the machinations of Opec, faded as the black hole of coronavirus steadily continued to expand, swallowing everything. As March dragged on and more countries went in to complete lockdown to curb the spread of […]
China’s ‘state liquor’ Moutai defies downturn with spirited growth
TOKYO — The coronavirus has paralyzed the Chinese economy and cut down on socializing and drinking at restaurants and bars. But one of the country’s most famous spirt brands has made merry regardless. Kweichow Moutai, a state-owned distiller from the underdeveloped southwestern province of Guizhou that makes the sorghum-based hard […]
Buy-to-let investors prepare to swoop on housing market downturn
The property market is in limbo: sales are on hold, landlords are struggling, and mortgage searches last month were down 44pc on the previous four-week period, according to the online provider Twenty7Tec. But some buy-to-let investors are spotting opportunities, and are getting their deals lined up for when the restrictions […]
Japan’s stay-at-home food stocks lose immunity to downturn
TOKYO — Makers of instant food were the go-to stocks in the Japanese market recently, poised to benefit from the social distancing trend, but now the shares are undergoing a correction. Nissin Foods Holdings, which makes instant noodles, fell 3% during Thursday’s trading in Tokyo. Frozen food maker Nichirei and Toyo Suisan […]
Report: Airbnb pauses marketing to save $800M during pandemic downturn
Dive Brief: Airbnb halted marketing spending as it looks to save $800 million this year and offset losses from the coronavirus pandemic, Reuters reported, citing an anonymous source. The Information also reported the news. The home-rental startup also enacted a hiring freeze, barring for a handful of key roles. Company […]