Tag: suffers

Coronavirus: Japan suffers its biggest economic slump on record

Image copyright Getty Images The Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic. The world’s third largest economy saw gross domestic product (GDP) fall by 27.8% in the April to June quarter, compared to the same period last year. Japan was already struggling with low economic growth before the crisis. The figures… Read more →

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German economy suffers sharpest decline on record

Image copyright Reuters The German economy shrank at its fastest rate on record amid the impact of the coronavirus pandemic, according to new official figures. The total production of goods and services declined by 10.1% during the April-to-June period. It was the sharpest decline since German began producing quarterly growth figures in 1970. The contraction followed a smaller but still… Read more →

Manufacturers urge bailout as sector suffers

Image copyright Getty Images The coronavirus crisis has left many manufacturers on the “cliff edge” and in need of government intervention, an industry body has warned, The government should step in to support key sectors, in line with other countries, Make UK urged. It said support should especially be targeted at the aerospace, carmaking and steel sectors. Its plea came… Read more →

Disney suffers $1.4bn hit due to coronavirus

Image copyright Getty Images Image caption Disney’s Florida theme park has been shut since mid-March Walt Disney Co suffered a $1.4bn (£1.1bn) hit to profits in the first three months of the year, as it closed its parks, cancelled movie releases and reduced advertising sales. Every part of its business was affected by coronavirus, nearly wiping out profits for the… Read more →