UK economy to slump over 10%, debts to surge: Moody's

LONDON (Reuters) – Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody’s warned on Friday, while its debts as a share of GDP will surge by 24 percentage points. Moody’s said the UK government’s latest stimulus package, announced this week, would aid a gradual economic recovery but […]

Canada handled the coronavirus outbreak better than United States, PM Trudeau says

OTTAWA (Reuters) – Canada handled the novel coronavirus outbreak better than many of its allies, including the United States, Prime Minister Justin Trudeau said on Wednesday, in a rare public comment on the faltering U.S. effort. Canada – with a population one-tenth the size of the United States – has so far recorded 8,711 deaths […]

‘Life-saving’ Covid-19 drugs sold on black market

A BBC investigation has found that two life-saving drugs used to treat Covid-19 patients in India – remdesivir and tocilizumab – are in short supply and being sold for excessive rates on a thriving black market. Vikas Pandey reports from the capital Delhi. Abhinav Sharma’s uncle had very high fever and difficulty breathing when he […]

S Korea rejects US extradition over child abuse site

A South Korean court has denied a US extradition request for the man behind one of the world’s largest child sexual abuse websites. Son Jong-woo, who ran the site Welcome to Video, served 18 months in South Korea for producing and distributing indecent images of children. Following his initial release in April, Son was taken […]

Exclusive: After pandemic, U.S. senators want review of drug supply chain

WASHINGTON (Reuters) – Republican and Democratic U.S. senators called for a government analysis of foreign influence in the U.S. pharmaceutical supply chain on Tuesday, saying the coronavirus pandemic has exposed an over-reliance on China and other countries for the production of essential drugs. Republican Senator Marco Rubio and Democratic Senator Elizabeth Warren will introduce the […]

Singapore GE2020: PM Lee Hsien Loong to unveil PAP's manifesto on Saturday

SINGAPORE – The PAP’s manifesto for the upcoming polls on July 10 will be launched by its secretary-general, Prime Minister Lee Hsien Loong, on Saturday (June 27). The ruling party will also progressively introduce its line-up of candidates for the GRCs and SMCs in the next few days, said PAP second assistant secretary-general Chan Chun […]

Weak demand prompts Macy's to cut 3,900 jobs in push to save cash

(Reuters) – Macy’s Inc (M.N) said on Thursday it would lay off about 3,900 employees in corporate and management positions as U.S. businesses try to save cash in the face of dwindling demand caused by the COVID-19 pandemic. The department store chain, which had about 123,000 employees at the end of January, said it expects […]