US: Mnuchin to issue $3 trillion in debt After COVID-19 hobbles economy

Treasury Secretary Steven Mnuchin plans to boost US borrowing from April through June by an unprecedented $3 trillion to support an economy entering a recession caused by the coronavirus. The Treasury said the increase is driven by new stimulus spending legislation and tax receipt deferrals, steps taken to help the economy overcome social distancing measures that […]

India sheds 122 million jobs during lockdown phase

New Delhi: The world’s biggest lockdown forced 122 million people out of jobs in India last month, according to estimates from a leading private sector think-tank. Employment plunged in April after the government imposed a 40-day lockdown in a nation of 1.3 billion people, forcing businesses to shut and pushing up the jobless rate to […]