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Japan to launch ‘unprecedented’ measures to support economics

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The Japanese government will soon release an “unprecedented” large support package to protect the economy from the consequences of the corona pandemic. That was promised by Japanese Prime Minister Shinzo Abe, after the number of infections in Tokyo rose by a record sixty on Saturday. He did not go as far as to declare a national emergency, but emphasized that the moment is near. The...

Virus fears broke the French PMI

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The confidence of French entrepreneurs has been hit hard by the corona crisis. The index measuring confidence shows the strongest decline ever before March, the French statistics agency reported. The indicator dropped to a reading of 95 out of 105 in February. This is the sharpest decrease since the measurements started in 1980. French entrepreneurs are particularly pessimistic about future...

France secures €4 billion to save those foolish startups

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The French government is launching a support program of € 4 billion for start-ups to get through the corona crisis. This was announced by the French secretary of state for digital affairs Cédric O on French radio. This money should prevent starting internet companies from getting into financial difficulties due to the crisis. “We come up with a specific plan to support the liquidity of...

Great Britain’s economy shows stagnation in January

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The economy of Great Britain remained unchanged in January compared to a month earlier. The British National Statistical Office reported this. Economists generally expected the economy to grow by 0.2 percent on a monthly basis, after a plus by 0.3 percent in December. The British central bank came earlier in the day with an interest rate cut and other measures to stimulate growth. The economy of...

Mukhtar Ablyazov to be sanctioned for not showing up in court

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The District Court of New York ordered Mukhtar Ablyazov to pay an additional $140,115 to cover the expenses of the Almaty city and the BTA Bank. It will reimburse the attorneys and other fees, Ministry of Justice of Kazakhstan reported. Plaintiffs are seeking to to impose additional fines and sanction on the fugitive ex-banker Mukhtar Ablyazov. The proceedings started in July 2019. Sanctions are...

German GDP stays flat in Q4

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The German economy remained as large in the last quarter of last year as a quarter earlier. Final figures from the German Federal Statistical Office confirm this, after preliminary figures already pointed in the same direction. In general, therefore, economists were already counting on an outcome of 0 percent. In the third quarter, the gross domestic product of the largest economy in the eurozone...

US PMI is stable, sales of exiting homes fell 1.3 percent

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Business activity in the United States grew slightly less in February than in the previous month. The British market researcher Markit reported this on the basis of provisional figures. The purchasing managers’ index for the American industry recorded a score of 50.8 for February compared to 51.9 a month earlier. Economists generally counted on a score of 51.5. A position above 50 indicates...

Japanese economy has contracted in Q4 2019

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The Japanese economy contracted sharply last quarter. A tax increase led to a sharp fall in business and consumer spending in the Asian country. This is the first contraction for Japan in more than a year. Moreover, the setback is much stronger than the average economists expected. The so-called gross domestic product (GDP) shrank by 6.3 percent on an annual basis in the three months to the end...

Inflation in Germany confirmed at 1.7 percent

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Inflation in Germany rose in January to 1.7 percent on an annual basis, from 1.5 percent in December. The German Federal Statistical Office reported this on the basis of a definitive figure. This brought inflation to the highest level in nine months. On a monthly basis, German consumer prices fell by 0.6 percent, against a plus of 0.5 percent a month earlier. On the basis of the European...

China hid the January trade data

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China postpones the publication of January import and export figures by one month. This data would actually be published this Friday by the Chinese customs. According to customs, the delay has to do with a lack of information. The January figures will be merged with the February trade figures. China’s trade figures at the beginning of the year are often distorted by the Chinese New Year...

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