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World - 2020-05-07
In Finland, basic income boosts well-being but not jobs
Global Business Economy

In Finland, basic income boosts well-being but not jobs

An experiment giving 2,000 unemployed an unconditional, tax-free payment every month created happier citizens but failed to markedly increase employment levels, Finnish researchers said on Wednesday.
Published 07 May, 2020 12:02am
US private payrolls dive by a record 20.2m
Global Business Economy

US private payrolls dive by a record 20.2m

US private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
Published 07 May, 2020 12:02am
Sri Lanka slashes interest rates
Global Business Economy

Sri Lanka slashes interest rates

Sri Lanka's central bank cut interest rates by 50 basis points Wednesday in a bid to revive a sluggish economy reeling from the coronavirus pandemic and the 2019 Easter bomb attacks.
Published 07 May, 2020 12:02am
India's services sector plunges
Global Business Economy

India's services sector plunges

India's key services sector plummeted last month, data showed Wednesday, indicating a severe slowdown across Asia's third-largest economy which has been under a lockdown for six weeks to tackle coronavirus.
Published 07 May, 2020 12:02am
Uber cuts 3,700 jobs
Global Business Economy

Uber cuts 3,700 jobs

Uber said Wednesday it was cutting 3,700 jobs amid a huge slump in its ride-hailing operations during the pandemic.
Published 07 May, 2020 12:02am
Britain's construction at record low

Britain's construction at record low

Britain's construction sector suffered a record drop in activity during April as the coronavirus pandemic shut sites, data showed Wednesday alongside news of surging food sales at online supermarket Ocado.
Published 07 May, 2020 12:02am
Quake strikes in Indonesia's Banda Sea, no tsunami alert

Quake strikes in Indonesia's Banda Sea, no tsunami alert

A 6.8 magnitude earthquake jolted a remote part of eastern Indonesia late Wednesday, the United States Geological Survey said, but there was no tsunami warning issued and no immediate reports of damage. The undersea quake struck at a depth of some 107 kil
Published 07 May, 2020 12:02am