Crocs to provide free shoes to healthcare workers during the epidemic
Crocs has said that all healthcare workers can get a free pair of shoes from their website to help them combat the coronavirus. A number of healthcare workers had asked crocs to launch this initiative as their shoes are comfortable and very easy to clean. The company is ready to ship 10,000 shoes per day.
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Asian markets rise, though Nikkei sinks after Japan’s record contraction
Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports. The Nikkei 225 in Tokyo NIK, -0.82% fell 0.8% after the data showed the world’s third-largest economy shrank 27.8% from a year earlier in the three months ending in June.
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China’s exports jumped 7.2% against an estimated 0.2% fall
Dollar-denominated exports in China jumped 7.2% year-on-year, economists at Reuters predicted a fall of 0.2%. In July, China posted a trade surplus of $62.33 billion, beating the $42 billion economists had expected. China’s trade surplus was $46.42 billion in June. Despite the coronavirus pandemic hitting global demand, exports from China have held up as exports in medical supplies jumped in the first half of the year
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Bank of England holds interest rate at 0.1%
In an important announcement on Thursday, the Bank of England held interest rates steady and maintained its existing level of asset purchases, as investors watched for signs that it is anticipating a slower economic recovery. The main lending rate was kept at 0.1%, as the central bank cut rates twice from 0.75% since the beginning of the coronavirus pandemic
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US posted the worst-ever GDP plunge
US posted the worst-ever GDP plunge
US GDP dropped 32.9% in the second quarter, the worst ever posted in the Q2. Economists surveyed by Dow Jones had been looking for a drop of 34.7% but still, it was the worst drop ever, with the closest previously coming in mid-1921. The report comes amid a recession that began in February and pulled first-quarter growth down 5%. On a quarterly basis, the Q2 decline was 1.8%
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