FT News Briefing cover image

FT News Briefing

Airline aid, banks braced for credit loss, grim IMF outlook

Apr 15, 2020
10:35
The US Treasury Department has reached an agreement with US airlines that paves the way for a $25bn bailout for the industry. Plus, JPMorgan Chase and Wells Fargo increased loan-loss provisions by $10bn from last year to prepare for the impact of the pandemic. Then, the IMF said on Tuesday that the coronavirus crisis will leave lasting scars on the global economy. The FT’s economics editor, Chris Giles, explains how the damage could continue long after lockdowns are lifted.

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