A study by a major German credit insurer has shown an increasing number of large firms filing for insolvency could have a domino effect on the entire German economy. Weak growth is also predicted for 2020. Source Deutsche Welle
Russian gold and foreign currency holdings have risen by over $9 billion in one week. The international funds came closer to the previous peak at the end of last month, as they climbed to the highest point in 12 years to $591.8 billion, according to the latest figures from the Russian Central Bank. The data released on Friday shows that the holdings rose by $9.1 billion. The regulator said that the increase was driven by “positive revaluation” and gold’s rally. Source RT
The Italian Civil Aviation Authority (Enac) threatened on Wednesday to suspend Ryanair’s permit to fly in Italy due to non-compliance with coronavirus (Covid-19) related safety rules. Source Brussels time
Fitch Ratings, one of the world’s major credit-rating companies, revised its outlook on the U.S. credit score to negative from stable Friday “to reflect the ongoing deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” Source South Florida Times
