Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.
The Indian equity markets continued their journey southwards and tanked further despite a bounce back in crude oil prices and global stocks. According to reports, Sensex dropped 370 points to 27,800 in the opening session on Friday, while Nifty tumbled nearly 100 points to 8,100.
Unite, which represents thousands of workers employed by BA, said it had
eached an agreement with the company to use a version of the government's business support programme for around 28,000 staff, guaranteeing 80 per cent of salaries to avoid redundancies.