Coronavirus Outbreak: Banks have done nothing to help retailers to tide over lockdown crisis, says industry body
Banks have done "sweet nothing" to provide financing to retailers to tide over the lockdown crisis, and the government intervention is needed to avoid mass unemployment in the sector, according to RAI
A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month as the novel coronavirus savages the economy
There could be as many as one crore job cuts in the textiles sector, which has been severely hit by the ongoing lockdown, if there is no support and revival package from the government, according to apparel industry body Clothing Manufacturers Association of India (CMAI)
Coronavirus Outbreak: Govt plans to resume limited manufacturing operations after 15 April, says report
The source said the government was considering allowing the resumption of some manufacturing operations under guidelines that were being drawn up.
US economy to remain in contractionary state for first half of 2020; high unemployment may persisit for over a year
The number of jobs destroyed by the US economy’s crisis-driven sudden stop could top 4.5 million, according to the median estimate of 45 forecasters surveyed by the National Association for Business Economics.
Salary cuts more feasible than job cuts, say experts; peg recovery period for retail at 9-12 months after lockdown ends
The short-term impact of the coronavirus pandemic on retailers in the country will be severe, but retail sales recovery period for India is expected to kickstart from the first week of May subject to the lockdown not being extended further,
Coronavirus Outbreak: Reverse-migration and labour shortage likely to be long-term impact, says report
Labour shortage, it is being feared, can hinder economic recovery
Bank shares tank after Moody's changes outlook on Indian banks to negative; RBL, Kotak, IndusInd top losers
Bank shares on Friday dropped up to 15 percent after Moody's Investors Service changed the outlook for the Indian banking system to negative from stable
COVID-19 impact: Moody's changes outlook on Indian banks to negative from stable; move triggered by disruption in economic activity
Moody's said Banks' asset quality will deteriorate across the corporate, small and medium enterprises and retail segments, leading to pressure on profitability and capital.
Coronavirus Outbreak: India's economic growth likely to decline by 200 bps in FY21, says Yashwant Sinha
India's economic growth is likely to decline by 2 percentage points in the next financial year due to the impact of coronavirus pandemic and the consequent 21-day countrywide lockdown, former finance minister Yashwant Sinha said on Friday
Global job losses could exceed 25 mn, much more than estimated by UN days ago; US jobless claims surge to record levels
The International Labour Organization, a UN agency, had estimated a week ago that, based on different scenarios for the impact of the pandemic on growth, the global ranks of the jobless would rise by between 5.3 million and 24.7 million.
Stock Market Latest Updates: Sensex soars over 1,400 points, Nifty above 8,600-mark at close; IndusInd Bank zooms over 45%
Stock Market LIVE Updates: Sensex up 300 points, Nifty opens above 8,400-level in opening trade; Rupee opens flat
Former RBI governor Bimal Jalan has pitched for fiscal stimulus to mitigate the impact of coronavirus outbreak which, he said, could lower India's growth by an estimated 1 percentage point, and affect jobs
Global economy continues to slide as coronavirus outbreak worsens; uncertainty to remain for several months: Moody's
A sharp contraction of the global economy, at least in the second quarter, appears imminent, it said in its latest special series 'Credit Risks in Turbulent Times.'
Industry body fears coronavirus may render 3.8 cr people jobless in India's tourism, hospitality sectors; seeks funding for 12 months
The coronavirus impact could render 3.8 crore people jobless, which is around 70 percent of the total workforce in the tourism and hospitality sector, according to a grouping
About 25 mn jobs could be lost worldwide due to coronavirus; coordinated policy response can lower impact on unemployment: UN
Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency
Tata Steel Europe to cut 1,250 jobs in turnaround push; need to urgently improve profitability, says CEO
Besides the job cuts, which would be less than half of what the company had announced last year, Tata Steel said it will not replace employees who have retired or left the company
Seven months since Article 370 was scrapped in Jammu and Kashmir, employment opportunities remain scarce
Almost seven months since Jammu and Kashmir ceased to be a state, the Union Territory has experienced a variety of administrative problems
44,000 jobs lost in Maharashtra in demonetisation year, says state Economic Survey; document red flags reducing number of industries
Some 44,000 jobs were lost in Maharashtra in 2016-17, the fiscal year when the decision of demonetisation was announced by the Centre, according to the state's Economic Survey.
Maharashtra's economy to grow at 5.7% in 2019-20, marginally down from last fiscal's projection of 6%: Economic Survey
Maharashtra's economy is expected to grow at 5.7 percent during 2019-20, marginally down from the last fiscal's projection of six percent, the Economic Survey presented in the state Legislature on Thursday said