OECD area GDP is 1.8 percent lower q/q

The economy in the Organization for Economic Cooperation and Development (OECD) area shrank in the first quarter due to the corona crisis and mitigation measures to combat virus outbreaks. The shrinkage amounted to 1.8 percent compared to a…

Bayer has reached an agreement on Roundup class action

Bayer group seems to have reached an agreement on a settlement with the majority of people who sued the company over the pesticide Roundup. Bloomberg writes this on the basis of insiders. Roundup, which was developed by the American company…

China will not return to managed economy

China does not want to return to a planned economy. That said President Xi Jinping on Saturday in response to American criticism that the country with the second economy in the world has not implemented the promised reforms. "We have come…

Wall Street to open lower

New York stock exchanges are expected to open lower on Friday, due to mounting tensions between the United States and China following Beijing's announcement of a new controversial Hong Kong security law. In addition, investors on Wall…

Nissan to cut 20,000 jobs

Japanese auto group Nissan Motor plans to cut more than 20,000 jobs worldwide due to the negative impact of the corona crisis. That reported news agency Kyodo News. Due to the crisis, car sales fell sharply and factories had to be closed.…

No bold targets in GDP this year – Li Keqiang

China has no targets for gross domestic product growth this year due to the uncertainty caused by the corona pandemic. That said Prime Minister Li Keqiang during his opening speech of the National People's Congress. "We have not yet set a…