Global Economy’s Recovery Hinges on Stimulus, Virus Battle, Officials Say | Investing News

By David Lawder and Jan Strupczewski

WASHINGTON/BRUSSELS (Reuters) – Global finance leaders on Tuesday said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush a fragile recovery.

At the start of the annual meetings of the International Monetary Fund and World Bank, the IMF issued slightly improved growth forecasts spurred by unexpectedly stronger rebounds from coronavirus lockdowns in the wealthiest countries and China.

The IMF said it now expected global gross domestic product to shrink 4.4% in 2020, compared to the 5.2% contraction it predicted in June, when business closures were at their peak. Some $12 trillion in stimulus supplied largely by advanced economies limited the damage, but poor countries and other emerging market economies faced a worsening picture, the global lender said.

“The story is less dire than we

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Cambuslang politicians in call for economic recovery plan for the local area

A Cambuslang councillor and a list MSP have called for an economic roadmap to be created to help the town.

Councillor Margaret Walker, who represents Cambuslang West, and James Kelly believe an economic recovery plan to support businesses would be a boost to the region.

Mr Kelly has written to South Lanarkshire Council calling on it to offer additional support and advice to businesses, and to do what it can to ensure funding support is allocated appropriately.

Councillor Walker said: “We need an economic recovery plan which will support small businesses throughout the Cambuslang area. Business support grants should be made available as well as other services.

“Our town centre has long needed further improvement. Proper plans must be put in place to ensure that vacant land and properties are filled.

“The Scottish Government must ensure that local government economic development services are adequately funded in order to ensure that

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UK economy stumbles in August, setting back recovery from COVID-19 slump

LONDON (Reuters) – Britain’s economy struggled to grow in August, setting back its recovery from the coronavirus lockdown, and finance minister Rishi Sunak was due to announce more help to slow a rise in jobs losses as a second wave of COVID-19 infections hits.

Gross domestic product rose by 2.1% from July, official data showed, not even half the median forecast in a Reuters poll of economists and the slowest increase since the economy began to recover in May from a record slump.

Much of what growth there was in August was down to a one-off government restaurant subsidy programme.

Finance minister Rishi Sunak was due to announce later on Friday a plan to support jobs in businesses that may be ordered to close to slow a resurgence of COVID-19 infections. Economists said the data also raised the chance of more stimulus from the Bank

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Enterprise Resource Planning Software Market | Insights on the Crisis and the Roadmap to Recovery from COVID-19 Pandemic | Technavio

LONDON–(BUSINESS WIRE)–The global enterprise resource planning software market to register an incremental growth of USD 19.52 billion, witnessing a CAGR of almost 9% during 2020-2024, according to the latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the enterprise resource planning software market in optimistic, probable, and pessimistic forecast scenarios.

Get detailed insights on COVID-19 pandemic Crisis and Recovery analysis of Enterprise Resource Planning Software market. Download free report sample

Amid the COVID-19 Crisis, the Revaluated and Updated Enterprise Resource Planning Software Market Report Says:

  • The enterprise resource planning software market will witness a Positive and Superior impact during the forecast period owing to the extensive rise of the COVID-19 pandemic.
  • Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have Mixed and Direct impact
  • Furthermore, as per Technavio’s
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Agility Acquires Recovery Solutions for Business Continuity Services

Agility Recovery, which provides business continuity services for banking and insurance companies, has acquired Recovery Solutions of Chicago, Illinois.

This is M&A deal 416 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.

Agility Recovery, based in Denver, Colorado, is backed by private equity firm LLR Partners. Agility Recovery’s business continuity solution help customers plan, train, test, alert and recover from outages.

In contrast, Recovery Solutions provides purpose-built, audit-ready compliance solutions for banks and credit unions. Recovery Solutions CEO Rick Lavin will join the Agility team to assist with the transition.

Agility Acquires Recovery Solutions: Executive Perspectives

Jon Bahl, CEO of Agility Recovery

The deal will help strengthen Agility Recovery’s position in the market while expanding its expertise within the highly regulated financial sector, according to Agility’s CEO Jon Bahl, who said:

“The need for business

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UK economy grew 2.1% in August, as recovery from the pandemic slows

Meghann Showers

The White Lion pub seen at the Covent Garden. UK Covid-19 cases are now doubling every seven to eight days, Prime Minister Boris Johnson is considering national restrictions for a short period to “short-circuit” the virus.

SOPA Images | LightRocket | Getty Images

LONDON – The U.K. economy grew 2.1% in August on a monthly basis, as the country’s gradual recovery from the coronavirus crisis continued, albeit at a slightly slower pace.

August’s estimated growth in GDP (gross domestic product) was lower than expectations, with economists polled by Reuters expecting a monthly expansion of 4.6%. It follows an expansion of 6.4% in July, 9.1% in June and 2.7% in May, following a record 19.5% plunge in April, according to the Office for National Statistics.

Friday’s data from the Office for National Statistics showed that August GDP remained 9.2% lower than in February, before the full impact of the pandemic was

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U.K. Recovery Runs Into Trouble as August Growth Disappoints

Meghann Showers

(Bloomberg) — The U.K.’s economic recovery slowed dramatically in August, throwing the strength of the nation’s rebound into doubt as coronavirus infections mount going into the final few months of the year.

Gross domestic product rose 2.1% in the month, less than half the pace forecast by economists and down from 6.4% in July. The slowdown came despite the government stepping up efforts to revive the beleaguered hospitality industry.

It’s another sign that Britain risks lagging behind its biggest European peers. Output is now languishing almost 10% lower than before the lockdown, compared with around 5% in France. The U.K. had the biggest contraction among major European economies in the second quarter, as well as one of the world’s worst death rates from the virus.

graphical user interface, chart: The U.K. economy grew at less than half the pace anticipated in August

© Bloomberg
The U.K. economy grew at less than half the pace anticipated in August

The figures will come as a concern to officials, since

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UK economy grew 2.1% in August as recovery slowed down, despite Eat Out to Help Out scheme

Meghann Showers

The UK economy grew 2.1 per cent in August as the recovery from lockdown slowed, despite Rishi Sunak’s Eat Out to Help Out scheme, official figures show.

a man wearing a hat

© Provided by The Independent

It came after a 6.6 per cent increase in output in July but means the economy remains 9.2 per cent below its peak reached before the coronavirus pandemic, the Office for National Statistics reported.

UK gross domestic product (GDP) fell at its fastest quarterly rate on record during lockdown, contracting by a fifth as businesses were forced to close and people stayed at home.

The latest monthly GDP estimate, which came in well below 4.6 per cent growth forecast by analysts, will cause concern for the chancellor.

There were signs that measures to boost hospitality, including a half-price meal scheme, had a positive effect. Accommodation and food services businesses accounted for 1.25 percentage points of the whole economy’s

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UK GDP grows by 2.1% in August as economy’s recovery slows

Meghann Showers

UK GDP grew by 2.1% as the economic recovery in the country runs out of steam.

a person cooking food in a restaurant

© Provided by Evening Standard

It follows growth of 6.4% in July, 9.1% in June and 2.7% in May.

The ONS said: “The level of output has not fully recovered from the record falls seen across March and April 2020, and is still 9.2% below the levels seen in February 2020, before the full impact of the coronavirus (COVID-19) pandemic.”

BCC Head of Economics Suren Thiru added: “While the latest data confirms a rebound in economic activity continued into August, the sharp slowdown in growth indicates that the recovery may be running out of steam, with output still well below pre-crisis levels.

“The increase in activity in August largely reflects a temporary boost from the from the economy reopening and government stimulus, including the Eat Out to Help Out Scheme, rather than proof of

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Global Lime Market- Post Pandemic Recovery Plan Strategies and Processes|Rapid Growth of Construction Sector to Boost Market Growth

Meghann Showers

The global lime market size is expected to grow by 20.60 million tons during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here:

Technavio has announced its latest market research report titled Global Lime Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic – Request a Free Sample Report on COVID-19 Impacts

Lime is a key ingredient in mortar and plaster used during construction activities. The rapid growth in the construction and renovation sector was a key driver for the growth of the global lime market in 2019. The construction sector in the US witnessed a growth of 1.7% in

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