#coronavirusimpact

May 25, 2020
1 min

IBM SLASHES JOBS ACROSS US, FATE OF 352,600 EMPLOYEES HANGS

IBM, a venerable 110-year-old pioneer in computing, has told the Wall Street Journal and Bloomberg that it is axing a number of workers in t

May 24, 2020
1 min

HERTZ FILES FOR BANKRUPTCY PROTECTION

The iconic Hertz rent-a-car pioneer in the US has filed for bankruptcy protection after failing to meet payments on its $17-billion debt, sa

May 24, 2020
1 min

U.S. VIDEO GAMES INDUSTRY SALES ZOOM UNDER PANDEMIC

Spending on video games in the U.S. jumped to a new April record as locked-down consumers sought refuge in play, industry figures released F

May 22, 2020
2 min

U.S. WORKERS WARY OF RETURNING TO WORK; GENERAL STRIKE CALL MOUNTS

American workers are wary of returning to work as 50 states partially reopened their economies, with unions arguing it is still not safe to

May 22, 2020
1 min

JAPAN EXPORTS SINK THE MOST SINCE 2009

Japan’s exports have sunk as the world grapples with the COVID-19 pandemic and the trade rivalry between China and the US frazzles global ma

May 22, 2020
1 min

NEW ZEALAND TO BOOST ECONOMY WITH NZ$ 27.7 BILLION

New Zealand announced on Thursday that its public debt will more than double over the next three years as it unveiled a massive investment p

May 21, 2020
2 min

NON-PAYMENT OF CHINA DEBT GAINS CRESCENDO

U.S. President Trump’s moves against China have so far not taken the ultimate assault on Beijing, which means not paying the $1.1 trillion t

May 21, 2020
2 min

TENS OF MILLIONS OF SURGERIES POSTPONED, LOSSES MOUNT FOR HOSPITALS

Tens of millions of surgeries are being postponed as a result of the pandemic, The Economist reported on May 18, 2020, with the UK's Nationa

May 21, 2020
1 min

MAGIC JOHNSON’S ASSIST: $100-M LOANS FOR MINORITY-OWNED BUSINESSES

Earvin “Magic” Johnson has offered $100 million in loans to minority-owned businesses left out of the Paycheck Protection Program (PPP) of t

May 21, 2020
1 min

ROLLS-ROYCE CUTS 9,000 JOBS IN JET ENGINE UNIT

Rolls-Royce, the British maker of jet engines, said on May 20, 2020 that it will slash at least 9,000 jobs and cut costs elsewhere, admittin

May 21, 2020
1 min

MASTERCARD LETS STAFF WORK FROM HOME UNTIL PANDEMIC SUBSIDES

Mastercard is letting its employees worldwide to work from home until they are sure that the COVID-19 pandemic is under control, Noor Zainab

May 21, 2020
1 min

CUBA NOTCHES 82% RECOVERY RATE FOR COVID 19 PATIENTS

Cubahas registered an 82% recovery rate for all COVID-19 patients, one of the highest in the world, and had no single fatality for one week

May 21, 2020
1 min

CHINESE EXPERTS WARN COVID-19 VIRUS MAY BE MUTATING

Doctors looking into COVID-19 patients in Northern China have warned that the latest cases in Jilin and Heilongjiang provinces appear to har

May 21, 2020
2 min

GLOBE STARTS WEEKLY RAPID ANTIBODY TESTING OF FRONTLINE EMPLOYEES

As the government eases up community quarantine restrictions, Globe Telecom has started the weekly rapid antibody testing of all its frontli

May 21, 2020
1 min

U.S. SURVEY: COVID-19 WORSENED HUNGER, DELAYED RENT PAYMENTS

More than 10% of U.S. households have been having difficulty getting food and 25% of respondents said they are scrounging for money to pay t

May 20, 2020
1 min

GOLD POISED TO SURPASS HISTORIC HIGH OF $1,900 AN OUNCE

Gold has shown its strength as an asset, beating all other commodities by shooting its price through the roof and threatening to surpass its historic high of $1,900 an ounce. Paul La Monica of CNN Business on Monday, May 18, 2020 (Tuesday, May 19 in Manila) said that while the price of the precious metal retreated in March 2020 as the COVID-19 pandemic rampaged in the US, China and European Union (EU), gold came roaring back, with the price skyrocketing to $1,750 an ounce, a

May 20, 2020
1 min

BUREAU OF INTERNAL REVENUE COLLECTIONS DOWN BY A FOURTH

Collections of the Bureau of Internal Revenue for the January to April period declined by a fourth compared to its year ago level as the eff

May 20, 2020
1 min

CDC PLANS COVID-19 ANTIBODY TESTS IN 25 US METROPOLITAN AREAS

The US Centers for Disease Control and Prevention (CDC) plans a nationwide study covering up to 325,000 people to track how the new coronavi

May 20, 2020
1 min

CUSTOMS COLLECTIONS DOWN 7.2%

The Bureau of Customs reported collections of P179.44 billion from January to April this year, down by 7.29% from its year ago level of P193

May 20, 2020
1 min

UK UNEMPLOYMENT CLAIMS ZOOM 69%

Unemployment claims in Britain skyrocketed 69% in April, as the COVID-19 pandemic took hold and hit the labor market, United Kingdom authori

May 20, 2020
1 min

FRANCE, GERMANY PUT UP 500-B EURO RECOVERY PLAN FOR EU

Despite suffering from recession and facing sluggish economic growth in the next two years, Germany and France have taken the cudgels for th

May 20, 2020
1 min

EUROPEAN CAR SALES REGISTER WORST DROP IN HISTORY

European car sales have hit rock bottom in April 2020 as dealerships were shuttered because of the COVID-19 pandemic and buyers hid in their

May 20, 2020
1 min

UBER SLASHES 25% OF ITS STAFF DURING PANDEMIC

Uber has cut 25% of its staff during the COVIDS-19 pandemic, with 3,000 employees getting separated on top of the 3,700 staffers laid off tw

May 19, 2020
1 min

JAPAN’S ECONOMY SINKS 3.4% AS EXPORTS SPUTTER

Japan’s economy has gone underwater for the first time in 4-1/2 years in the first quarter of 2020, with Japan possibly experiencing its wor

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