Breaking: China's GDP dropped by 6.8% for the first three months of the year amid a coronavirus shutdown, its first year-on-year economic contraction on record
The sharp contraction in the world’s second-largest economy offers a foreshadowing of the pain expected in the U.S. and around the world as the coronavirus pandemic shuts borders, halts business activity and cripples global supply chains.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus to push China's first-quarter GDP into first decline on record: Reuters pollThe coronavirus health crisis likely knocked China's economy into its first decline since at least 1992 in the first quarter, raising the heat on authorities to do more to restore growth as mounting job losses threaten social stability.
Read more »
Bank of America posts 45% decline in first quarter profit, braces for big loan lossesBank of America added $3.6 billion to loan loss reserves in the quarter, following similar actions from JPMorgan Chase and Wells Fargo.
Read more »
BlackRock’s First-Quarter Profit Fell 23%Profits fell by 23% in the first quarter, as the global coronavirus pandemic and waves of selling gripped the investment world.
Read more »
Morgan Stanley's first-quarter earnings plunged 30%, missing Wall Street's forecasts | Markets InsiderMorgan Stanley posted first-quarter earnings on Thursday that fell short of Wall Street's expectations. The bank's net revenues slid 8% to about...
Read more »
Morgan Stanley is set to report first-quarter earnings – here's what the Street expectsMorgan Stanley is the last of the six largest U.S. banks to report results.
Read more »
Democrats outraise Republicans in competitive Senate races in first quarterDemocratic contenders for Republican-held U.S. Senate seats raised more money in early 2020 than their opponents in about half a dozen competitive races, with campaigns amassing cash even as a national health crisis pushed fundraising online.
Read more »