97,000 unemployed more, EU loosens deficit rules «kleinezeitung.at

  • Unemployed: 97,000 people affected in four days
  • ATX starts with a strong plus
  • U.S. Senate wants billions in aid
  • Brexit: Transitional phase could be postponed
  • Oil prices rise again
  • Eurobonds talking again
  • Germany plans 500 billion euros for companies
  • Vapiano slips into bankruptcy
  • Strabag: Short-time work instead of dismissals
  • EU loosens budgetary criteria

And much more

The most important current news from the business world in the ticker:

4:15 pm: The German government wants to fight against the economic consequences of the Corona crisis with an additional budget of around 150 billion euros bring on the way. This should be decided by the cabinet on Monday, the Reuters news agency learned on Friday from German government circles.

4:10 p.m .: The Corona crisis continues to increase unemployment in Austria. Since the start of the exit restrictions, there have been a total of 97,500 more unemployed Monday to Thursday than there was on Sunday evening, AMS board member Johannes Kopf said to the APA on Friday afternoon.

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3:50 pm: According to insiders, the Italian government assumes that the The country’s economy will shrink by about three percent this year due to the coronavirus pandemic. But the outlook is very uncertain, it is said. The prerequisite is that the curfew due to the pandemic will be eased gradually from the end of April.

3:30 p.m .: After the aid measures announced by the turquoise-green government for companies that are in financial need due to the coronavirus crisis, the Inquiries to the banks in this regard increased noticeably. “We have seen an increase in demand for deferrals and bridging loans since Wednesday of this week,” said Erste Group Austria head Peter Bosek to APA.

3:00 p.m .: As the number of registered unemployed increases 5,000 harvest helpers and thousands of employees in the food industry, including 9,000 in meat processing, are soughtAgriculture Minister Elisabeth Köstinger said in a joint press conference with Labor Minister Christine Aschbacher (both ÖVP) on Friday at the Federal Chancellery in Vienna.

2:40 p.m .: Given the expected economic crisis resulting from the coronavirus pandemic the EU Commission relaxes the budget rules. “Today, and this is brand new, we are activating the general escape clause,” said EU Commission chief Ursula von der Leyen on Friday in a video published on Twitter. National governments are now allowed to invest indefinitely in the economy.

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2:10 p.m .: The bookstore chain Thalia responds with short-time work on the corona crisis. In addition, attempts are made to transfer as much sales as possible to the online trade in order to keep the failures within limits. When it became known that the shops were closing and that some customers had also made large purchases at Thalia, Thomas Zehetner, Managing Director of Thalia Austria, told APA.

14:00 clock: While the number of registered unemployed is increasing, 5,000 harvest helpers and thousands of employees in the food industry, around 9,000 in meat processing, are sought, said Agriculture Minister Elisabeth Köstinger (ÖVP) at a press conference at the Federal Chancellery in Vienna on Friday. The platform “www.dielebensmittelhelfer.at” was set up for the placement of workers.

1:45 p.m .: The construction company Strabag will not now dismiss its employees. In Austria, short-time work is applied for for three months. This is an immediate response to the revised federal guidelines on short-time work (KUA-COVID-19) yesterday, Thursday.

1:30 p.m .: “We won’t leave anyone behind.” Vice Chancellor Werner Kogler (Greens) said this at a press conference in Vienna on Friday. Already next week there will be a hardship fund of one billion euros for severely affected one-person and small businesses.

The government will provide “everything it needs” to prevent “dramatic economic and social” impacts.

1:20 pm: Because of the expected economic crisis as a result of the corona virus pandemic, the EU Commission will shortly propose to the EU states to suspend the European fiscal rules. A spokeswoman for the Brussels authorities said on Friday. This initiative had already been welcomed by the Eurogroup and the EU heads of state and government.

12:55 pm: The Austrian Post joins the precautionary measures of the supermarket chains and installs because of the spread of the Coronavirus plexiglass partitions. In order to minimize the risk of infection for employees, the counters of over 400 post offices will be equipped with this protection in the coming week.

12:45 p.m .: Shop operators in Austria’s shopping centers lose 68.5 percent of sales every day due to the shutdown due to the coronavirus pandemic, according to the consultant Site + Market, which is EUR 29.7 million gross. As an example of inner-city shopping areas, the city of Graz was looked at: The expected average loss of sales is 2.2 million euros per day.

12:30 pm: The car maker too Volvo plans to stop production in Europe and the United States for the time being because of the corona pandemic. Keeping distance is now a priority to slow the spread of the virus, Volvo said on Friday. The group’s plant in Ghent, Belgium, has been closed since Tuesday, with the three plants in Sweden and the plant in the US state of South Caroline to follow.

12:20 p.m .: Apple leaves China after weeks of production bottlenecks only two iPhones of one model per order buy in his online store. This means that customers have received a warning message since Friday, for example, if they add three iPhone 11 Pro devices to their shopping cart – there are no problems with two iPhone 11 Pro and one iPhone 11.

11:45 a.m .: The effects of the corona pandemic and consumer hamster purchases bring the According to the industry association, truck drivers are pushed to the limit. The driver shortage in the logistics industry, which has existed for years, has been exacerbated by the consequences of the virus spreading, said a spokesman for the German Federal Association for Freight Transport Logistics and Disposal (BGL) on Friday.

11:30 a.m .: Because of a drastic drop in sales in the corona crisis, the German Vapiano restaurant chain insolvent. The board was thus obliged to file for bankruptcy proceedings within three weeks at the latest, the company said on Friday in Cologne.

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10:45 a.m .: The German government plans according to “Spiegel” a 500 billion euro rescue fund for companieswho are in need of the coronavirus pandemic. The magazine reported on Friday that it should protect companies from bankruptcy by issuing guarantees for their liabilities or by funding capital.

10:40 am: To protect employees in trade all shops – presumably from Monday – are only open until 7 p.m.. Pregnant women should be exempted, employees with previous illnesses or risk groups like older people should be employed in areas where they have no direct customer contact. The union and chamber of commerce agreed on Thursday.

10:00 a.m: The German finance minister Olaf Scholz (SPD) has one in the face of the corona crisis proposed state participation in large companies. The containment of the economic consequences of the pandemic “is also about large corporations, in which an incredible number are employed,” said Scholz on Thursday evening on ZDF.

9:30 a.m .: The Vienna Stock Exchange opened on Friday with massive profits. At the end of the week, the Vienna Stock Exchange is likely to continue the recovery attempt it initiated on Thursday. Around 9:30 a.m., the ATX gained a whopping 10.6 percent to 1,886.67 points.

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9:00 am: EU Commission President Ursula von der Leyen does not rule out joint issuance of bonds by the euro countries in the fight against the economic consequences of the virus crisis. “We look at all the instruments,” she said on Friday on Deutschlandfunk. “And what helps is used.” This also applies to so-called corona bonds. “If they help, if they are structured correctly, they will be used.”

According to EU Economic Commissioner Paolo Gentiloni, the European Stability Mechanism would be the best way for European bonds to fight the coronavirus crisis. Such “corona bonds” are a market transaction and must be issued through financial structures, Gentiloni told the Italian broadcaster RAI Radio 1. “The most suitable is the ESM. “

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8:00 a.m .: Oil prices continued their recovery from the previous day for the time being on Friday. The emergency measures of leading central banks in the fight against the economic consequences of the corona crisis from the previous day continued to support the share price development. In the morning, a barrel (159 liters) of the North Sea Brent cost $ 29.14. That was 67 cents more than the day before. The price of a barrel of the US grade WTI rose by 82 cents to $ 26.04.

06:00 a.m .: Despite the severe virus crisis, China has decided not to cut interest rates yet. The Chinese central bank left the one-year reference rate (LPR) at 4.05 percent on Friday. It had only lowered it from 4.15 percent in February to free up more money for lending and to provide companies with cheap loans that are part of the coronavirus prevention and control process. The majority of experts had now anticipated a further reduction.

05:00 a.m .: The corona virus-related exceptional situation could also have an impact on the talks between the EU and Great Britain about future relations – not only in a practical but in a very fundamental way: The political scientist Melanie Sully assumes that the Brexit transition phase will be extended until 2022, even if Prime Minister Boris Johnson has vehemently rejected it so far.

03:00 a.m .: The Republicans in the US Senate want to use a billion-dollar economic stimulus program to tackle the economic consequences of the coronavirus pandemic. Most taxpayers should receive a check for $ 1,200, among other things, and there should also be an additional $ 500 per child, according to a legislative package presented on Thursday evening (local time).

01:00 a.m .: Minister of Europe Karoline Edtstadler (ÖVP) expects the corona crisis too Impact on EU budget negotiations Has. Austria’s approach that taxpayers’ money must be used sparingly remains the same. “The shock of this crisis has hit everyone’s limbs, and it is seeping slowly,” Edtstadler told Puls 24 on Thursday.

The developments of March 19

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