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Huge EU transport projects too slow, costs skyrocketing, auditors say

16.06.2020, 07:27

BRUSSELS - Some of the huge EU road and rail projects worth more than 1 billion euros ($1.13 billion) each are not moving fast enough to ensure they are running at full capacity by 2030 as planned and may not be economically viable, auditors said on Tuesday.

Britain tells banks to prepare for pandemic debt pile

16.06.2020, 06:26

LONDON - British banks need to accelerate preparations for dealing with businesses unable to repay money borrowed to bridge the coronavirus pandemic, the national financial sector regulator said on Tuesday.

Swiss economy could lose more $100 billion due to coronavirus - govt.

16.06.2020, 05:19

ZURICH - Switzerland's economy could lose almost 100 billion Swiss francs ($105 billion) in output due to the fallout from the coronavirus pandemic, the government said on Tuesday.

Swiss National Bank expected to maintain negative rates: Reuters poll

16.06.2020, 04:17

ZURICH - The Swiss National Bank is likely to keep its policy interest rate at minus 0.75% until the end of 2021 at least, according to economists polled by Reuters.

SoftBank-backed ride-hailing firm Grab cuts staff to cope with virus impact

16.06.2020, 03:16

SINGAPORE - Southeast Asian ride-hailing and payments firm Grab said on Tuesday it would lay off more than 300 employees due to the impact of novel coronavirus, in the latest setback to major backer SoftBank Group Corp (T:9984 Softbank Group Corp.