Tag: warns

Coronavirus: Leading economist warns of 10 years of depression and debt

Image copyright Getty Images Economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini said there are some jobs that simply will not come back after this crisis. Even if the global economy recovers this year from the impact of the coronavirus, it will be “anaemic”.… Read more →

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Coronavirus: Shopping centre giant Intu warns of debt default risk

Image copyright Reuters Image caption Intu’s shopping malls, including Manchester’s Trafford Centre, remain ‘semi-closed’ Shopping centre operator Intu has warned that it risks defaulting on its debts unless its lenders give the firm significant breathing space. The coronavirus pandemic has hit rental income and Intu said there was no certainty how quickly the market would recover once the lockdown is… Read more →

Coronavirus: Alistair Darling warns economic impact ‘far worse than banking crisis’

Image caption Mr Darling was chancellor during the 2008 financial crisis The economic impact of the coronavirus pandemic will be “far, far worse” than the banking crisis in 2008, a former chancellor has warned. Alistair Darling said the country was already in a “very deep recession”. He predicted that unemployment would start to rise in August despite the UK government’s… Read more →