Japan’s economy shrinks at record rate, slammed by pandemic
Japanese media reported the latest drop was the worst since World War II. For the April-June period, Japan’s exports dropped at a whopping annual rate of 56%, while private consumption dipped at an annual rate of nearly 29%.
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Cheesecake Factory reveals it is unable to pay rent due to coronavirus crisis
The Cheesecake Factory has told its landlords across the US that they will be unable to pay rent on April 1st due to the coronavirus crisis. Most of the restaurant's properties are still open for takeout and delivery although it has had to close 2 due to the virus. It is unclear how the landlords responded.
us economy coronavirus recession rent cheesecake-factory landlord
NJ
Singapore headed for the worst recession since 2008 due to coronavirus
Singapore today became the first country in the world to report its economic growth data for the period during which the coronavirus outbreak became a pandemic, with data showing the country's GDP fell 10.6 percent from the last quarter. The International Monetary Fund has announced that the global economy could be headed for a recession both deeper and longer than the 2008 financial crisis.
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BBC
Financial markets had the worst day in the last 30 years
The coronavirus has led to a giant drop in the global stock market, wiping out trillions of dollars in market value. Regulators are trying desperately to control this dip as businesses are being forced to slow down. The outbreak has only gotten worse as time has gone on and it doesn't look like it will get better for some time.
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Reuters