Asia sits out equities rally as Alibaba slides
Asian shares sat out a global rally on Friday as disappointing earnings from Chinese e-commerce giant Alibaba reinforced worry about slowing growth in the world’s second-largest economy, even as European and U.S. share futures indicated gains.
Shipping rate surge threatens global economy recovery, UNCTAD says
A surge in container shipping rates poses a threat to the global economic recovery, with small countries dependent on deliveries by sea expected to be hardest hit by a spike in import prices, U.N. agency UNCTAD said on Thursday.
German output shrinks in Q1 as lockdown dampens consumption
The German economy contracted by a greater than expected 1.7% in the first quarter as a lockdown in place since November to contain the coronavirus stifled private consumption in Europe’s largest economy, data showed on Friday. “The coronavirus crisis caused another decline in economic performance at the beginning of 2021,” the Federal Statistics Office said. […]
