Saurabh Jha via Fair Observer| When the COVID-19 pandemic is dissected in the 2020 presidential election debates, Donald Trump will be at a disadvantage. The coronavirus has killed over 100,000 Americans and maimed thousands more. The caveat is that deaths per capita, rather than total deaths, better measure national failure, and by that metric the US fares better than Belgium, Italy and the United Kingdom.Read More
Jun Du , Agelos Delis, Mustapha Douch & Oleksandr Shepotylo via The Conversation | Although the global economy was fragile at the start of 2020, many hoped for increased international trade following the US-China Phase One trade deal. COVID-19 has scuppered those hopes, bringing the world’s factories to a standstill and severely disrupting global supply chains.
Addam Vettese (eToro) | Samsung has made it easier for users of its smartphones to buy and trade cryptoassets. Yesterday, the smartphone company announced a partnership with cryptocurrency exchange Gemini, with Samsung’s Blockchain Wallet now integrating with the Gemini mobile app, allowing users to buy and sell cryptocurrencies. Users will also be able to view their Gemini account balances in the Samsung Blockchain Wallet app, as well as transfer their crypto into cold storage through Gemini’s Custody feature.
The Next Generation EU fund, which is meant to address the eurozone’s main financing needs to counter the crisis, consists of €500bn delivered as grants according to country- specific financing needs and €250bn credited as loans. The news boosted the euro initially as the plans outstrip expectations for €500bn in funding previously proposed by Merkel and Macron.Read More
Olivia Álvarez (Monex Europe) | The Mexican economy shrank by 1.2% in Q1 on a quarterly basis, or 1.4% when compared with last´s year same period (not seasonally adjusted). The fallout in Q1 follows a series of 5 quarterly contractions over the last year and a half, further deepening the ongoing economic recession in Mexico. The coronavirus shock is mainly to blame for the Q1 contraction as external demand dropped sharply, with domestic activity only being affected in the last week of the quarter by the implementation of social distancing measures. Even so, quarterly GDP was dragged down to its worst performance since the financial crisis in 2009, with the March GDP contraction of 1.25% adding to a monthly decline of 0.59% in February and stalemate in January.Read More