Countries around the world planning to reopen businesses and get their economies back on track. Spain plans to start easing restrictions on Sunday and Italy on May 4. France will announce its plans next month. New York may start reopening manufacturing and construction after May 15, Governor Andrew Cuomo said.
Intel (NASDAQ: INTC) released a strong first quarter 2020 results on Thursday. The chipmaker reported net income of $5.7 billion, up 42 percent from a year ago, on revenue of $19.8 billion, up 23 percent from the same period. The Intel stock dropped more than 5% in after-hours trading after the company predicted that profit would come in lower than projections in the second quarter.
The Eurozone economy and the UK suffered the record falls in business activity due to the coronavirus outbreak and measures to contain it, a survey showed on Thursday.
Countries like Spain, Singapore and Ukraine will extend its nationwide lockdown for another few weeks. Spain’s death toll from the virus climbed by 435 in the past 24 hours and Ukraine reported 174 deaths on Tuesday.
UK employment data reported on Tuesday at a record high in the three months to February. It shows the unemployment hit the economy before coronavirus lockdown started. The data showed the unemployment rate in the three months unexpectedly edged up to 4.0% from 3.9% and growth in the number of people on companies’ payrolls dropped to 0.8% in March from 1.1% in February.