E.U. Set For a Worse Recession Than Expected: Live Business Updates

SourceThe New York Times
SectorEconomy
CountryOman

Here’s what you need to know: Europe’s recession will be worse than expected. The Treasury provided a first look at who got some of its small-business loans. Investors are starting to look past the pandemic to the election. Young pilots lured with promises of job security are now at risk of losing their jobs. Britain looks to replace seasonal workers kept away by the virus. In Naples last month. Italy, the E.U.’s third-largest economy is seen as worst-affected, set to shrink by 11.2 percent.Credit...Gianni Cipriano for The New York Times The economic recession unleashed by the coronavirus in the European Union this year will be even worse than previously predicted, the European Commission said in its latest forecasts Tuesday, taking into account data from the second quarter during which the vast majority of its economies were under...read more...