Unprecedented 8.7% Drop in U S Retail Sales in March
Washington reports U S retail sales plunged 8.7 percent in March amid lockdowns, with auto sales down 25.6 percent and clothing down 50.5 percent while grocery sales rose nearly 26 percent. The data reflect a sharp recession, with consumer confidence collapsing and services spending omitted.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Rich countries agree to help poorer nations handle debt
In Johannesburg finance ministers of the G-20 pledged to pause debt service for poor nations to free funds for health care and pandemic relief. The plan, backed by leaders from France and Ethiopia, would suspend $20 billion in payments to private creditors and states, with $12 billion to others and $12 billion more to multilateral banks under consideration. The move aims to curb the pandemic’s impact while Africa seeks billions in support and bulk-buy access to medical supplies.
MENTIONED IN THIS ARTICLE
Johannesburg
Africa
U.S
China
India
France
Ethiopia
Germany
South Africa
Financial Times
Bruno le Maire
sub-Saharan Africa
World Bank
World Bank Group
David Malpass
IMF
Kristalina Georgieva
African Union
UnitedHealth sticks to 2020 outlook amid coronavirus outbreak
UnitedHealth Group will not seek federal aid and maintains its 2020 adjusted earnings target of 16.25 to 16.55 per share as the pandemic tests its insurer and Optum businesses. First quarter revenue rose 7 percent to 64.42 billion with Opium growth, while enrollment slipped over 2 percent. Andrew Witty will take a leave of absence to lead WHO vaccine efforts, with David Wichmann stepping in at Optum temporarily.
MENTIONED IN THIS ARTICLE
UnitedHealth Group
United States
UnitedHealth
Wall Street
Andrew Witty
World Health Organization
Witty
Glaxo- SmithKline
David Wichmann
Optum
Egg demand soars as Minnesota plants idle amid price jump
In Minnesota, demand for eggs has surged driving prices near three dollars a dozen and prompting plants like Cargill to idle. Farmers adjust by not replacing hens, while suppliers seek new buyers and distribution models to meet grocery store demand. Grace Riley in St Paul illustrates shifting consumption and pricing trends.
MENTIONED IN THIS ARTICLE
Grace Riley
Riley
St. Paul
Minn
Twin Cities
U.S. Department of Agriculture
Cargill
Big Lake
North America
Kevin Stiles
Chicken and Egg Association of
Minnesota
Iowa Poultry Association
Stiles
Minnesota Department of Agriculture
Department
Board of Animal Health
League of Women Voters
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Madison Avenue
New York
Mary Astaffe
Jpmorgan Chase
Michael Pearce
Capital Economics
Macy’s
Nordstrom
Nike
Neil Saunders
Global Retail Research
Manson
Europe
Jerome Delay
UnitedHealth Group Inc
Minnetonka
Jim Mone
Dreamstime
TNS