Chinese Economy

LONDON/MILAN (Reuters) - The world’s richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping those in mainland China, where the virus originated. With over 242,000 infections and nearly 10,000 deaths, the…

Tencent, China’s social media, games and streaming giant, unveiled solidly normal financial results for its year to December. It signaled damage to the Chinese economy from the coronavirus outbreak, but the group is expanding the range of business activities that can be done online. Revenues, profits and dividend payouts for…

Pedestrians wearing protective masks ride an escalator near an overpass with an electronic board showing stock information, in Shanghai, China March 17, 2020. (Aly Song/Reuters) China’s GDP is headed for a 9 percent drop in first-quarter year-over-year growth as the coronavirus, which originated in Wuhan and spread across China before…

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Image copyright Getty Images Shares in London have plummeted in early trading, with the FTSE 100 index of shares plunging 8%.It comes after big falls in Asia, with Japan's Nikkei 225 index down 5% while Australia's ASX 200 slumped 7.3%, its biggest daily drop since 2008.Markets have been rattled by…

Click here for The Motley Fool's resources on Coronavirus and the market. Many stores are back open, but sales have plummeted. In an unscheduled SEC filing on March 5, coffee-giant Starbucks (NASDAQ:SBUX) provided an update for its shareholders regarding its business in China. The coronavirus outbreak has been a major…

Photo: GettyGlobal oil demand is experiencing its most sudden and dramatic dip in history, and it’s all because of the coronavirus outbreak.IHS Markit, a London-based financial data group that hosts a major energy conference every year (which it canceled due to the outbreak), published a research alert on Thursday on…

Stockmarkets swung wildly following the worst sell-off over a week for more than a decade. The Federal Reserve made an emergency half-a-percentage-point cut to its benchmark interest rate, to a range of 1-1.25%. The Fed last cut rates by half a point in October 2008, the maelstrom of the financial…

The Chinese economy will grow by just 4% this year, and the U.S. gross domestic product will only expand by 1.3% because of the impact of the coronavirus outbreak, the Institute for International Finance said in a report Thursday. The IIF, the international trade body of the financial services industry,…