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Far Apart: EU Holds Masked Budget Summit in Pandemic Times

European Union leaders acknowledged Friday they are about as far apart from reaching a deal on an unprecedented 1.85 trillion euro ($2.1 trillion) EU budget and virus recovery fund as the seating distance imposed upon them for health reasons at their summit center.

"The differences are still very, very big and so I can't predict whether we will achieve a result this time," said German Chancellor Angela Merkel as she arrived at the Europa summit site. "So I expect very, very difficult negotiations."

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Cuba Will Eliminate Dollar Tax to Boost Economy

Cuba will eliminate Monday the 10 percent tax it has previously levied on the use of the US dollar -- and widen the categories of products for which it can be used to pay -- in response to the country's economic crisis caused by the coronavirus pandemic and Washington's ongoing embargo. 

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Putin Says Russia Overcoming Economic Crisis Caused by Virus

Russia's economy is recovering from a severe crisis caused by the coronavirus, President Vladimir Putin said Thursday.

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Social Distancing on Aircraft 'Nice' but Unrealistic, Says Emirates

Emirates airline said Thursday it was unrealistic to establish social distancing on aircraft by leaving seats empty to curb the spread of coronavirus, as the cost would be too high to bear.

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New U.S. Jobless Claims Nearly Flat at 1.3 Million

New claims for U.S. unemployment benefits were at 1.3 million last week, barely changed from a week prior as the world's largest economy faces a renewed assault by the coronavirus.

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Dubai Holds First 'Real Life' Conference after Shutdown

"Don't touch the screen!" warned an organizer as participants attempted to print their badges, via barcodes sent to their phones, at Dubai's first "real life" business conference since the coronavirus shutdown hit in March.

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IMF Chief Warns Global Economy 'Not Out of the Woods Yet'

Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of COVID-19, and governments should keep their support programs in place, IMF chief Kristalina Georgieva said Thursday.

Activity "has started to gradually strengthen... But we are not out of the woods yet," Georgieva said in a message to G20 finance ministers ahead of their weekend meeting in Saudi Arabia.

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China's Economy Bounces Back from Pandemic Contraction

China saw forecast-beating economic growth in the second quarter after a record contraction in the previous three months, as businesses cautiously returned to normality following strict lockdowns across the country.

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U.S. Ups Battle against Huawei as China Tensions Soar

The United States on Wednesday cleared the way for sanctions on employees of telecom giant Huawei, expanding its pressure campaign on China, which summoned the U.S. ambassador.

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Walmart to Require U.S. Customers to Wear Face Masks

Walmart will require shoppers to wear face masks starting next week, the retail giant announced Wednesday, joining an increasing number of businesses in mandating the protection amid the latest spike in U.S. coronavirus cases.

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