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The top bank in Israel will hand over just shy of $900 million to the US Treasury after it was implicated in a tax evasion scheme, helping Americans to hide billions of dollars in wealth in thousands of foreign accounts.
The euro area is suffering its worst contraction ever as data published on Thursday showed that the region’s gross domestic product (GDP) shrank by 3.5 percent in the first quarter of 2020 versus the final quarter of last year.
Bond investors have started to debate whether the United States is heading into a deflationary spiral, even after trillions of dollars of stimulus has been injected into the coronavirus-hit global economy.
First-time filings for unemployment insurance hit 3.84 million in the week ending April 25, the US Labor Department announced on Thursday.
The International Labour Organization (ILO) has warned that around half of the world’s workforce, or 1.6 billion workers, are at imminent risk of losing their livelihood because of the economic impact of the coronavirus pandemic.
Apparently in a rush to expose a sinister link between US President Donald Trump and Beijing, Politico reported that Trump has an outstanding debt to the Bank of China, only to quietly correct itself after the bank spoke out.
Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan.
As investors seek safe haven assets during this crisis, analysts are getting more bullish on gold, projecting its price to surge. RT talked to Claudio Grass, a Switzerland-based precious metals adviser, about gold’s true value.
The Dutch government will provide up to €4 billion in emergency coronavirus aid to the KLM flagship air carrier. Its parent company, Air France-KLM, will also receive €7 billion from the French government.