Latest Organization for Economic Co-operation and Development News

Lourdes Sanvicente, 45, left, and a coworker wear protective face masks at the direction of the stand's owner, as they sell tamales, sandwiches, and pastries at a street stand in Mexico City, Wednesday, March 25, 2020. Sanvicente, who doubts the existence of the new coronavirus, says both she and her husband work as street food sellers, together earning 320 pesos (around $13.50) per day to support themselves and their five children.

Coronavirus could hit Mexico's high obesity, diabetes rates

Mar. 25, 2020 8:59 PM EDT

MEXICO CITY (AP) — The coronavirus pandemic could be especially deadly in Mexico because of the country's high rates of obesity and diabetes, a coalition of consumer and health advocacy groups said Wednesday. The Alliance for Food Health said in a report that four of the first five coronavirus deaths in...

Federal Reserve Chair Jerome Powell speaks during a news conference, Tuesday, March 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus

Virus spread prompts Fed to slash rates in surprise move

Mar. 3, 2020 3:44 PM EST

WASHINGTON (AP) — In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point Tuesday in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell said at a news conference that the virus “will surely weigh on...

FILE - In this Oct. 1, 2019, file photo, a man walks past the Reserve Bank of Australia in Sydney. Australia’s central bank on Tuesday, March 3, 2020 cut its benchmark interest rate by a quarter of a percentage point to a record low of 0.5% in response to the economic shock of the new coronavirus. (AP Photo/Rick Rycroft, File)

Australia cuts rate to record low 0.5% to fight virus impact

Mar. 3, 2020 12:36 AM EST

CANBERRA, Australia (AP) — Australia’s central bank on Tuesday cut its benchmark interest rate by a quarter of a percentage point to a record low of 0.5% in response to the economic shock of the new coronavirus. The reduction at the Reserve Bank of Australia’s monthly meeting is the first...

A woman wearing a mask stands near bull sculptures depicting prosperity along a retail street in Beijing on Tuesday, March 3, 2020. Asian shares rose Tuesday amid hopes that central banks will take action to shield the global economy from the effects of the coronavirus outbreak. (AP Photo/Ng Han Guan)

Tokyo falls back, other Asian markets track Wall St gains

Mar. 3, 2020 12:14 AM EST

TOKYO (AP) — Shares in most Asian markets tracked overnight gains on Wall Street, but Tokyo's benchmark fell back Tuesday as gnawing concerns over the virus outbreak chilled buying sentiment. Traders were awaiting talks between central bankers and other financial leaders of the Group of Seven industrial...

South Korean soldiers wearing protective suits spray disinfectant to prevent the spread of a new coronavirus in front of the Daegu city hall in Daegu, South Korea, Monday, March 2, 2020. (Choi Soo-ho/Yonhap via AP)

China's crisis wanes as epidemic takes hold in US, elsewhere

Mar. 2, 2020 10:37 PM EST

BEIJING (AP) — China's coronavirus caseload continued to wane Tuesday even as the epidemic took a firmer hold beyond Asia, with three countries now exceeding 1,000 cases and the U.S. reporting its sixth death. The health ministry announced just 125 new cases detected over the past 24 hours, China's lowest...

A woman wearing a protective face mask talks on her phone at the Central Business District in Beijing, Monday, March 2, 2020. China's manufacturing plunged in February as anti-virus controls shut down much of the world's second-largest economy, but companies are confident activity will revive following government stimulus efforts, according to two surveys. (AP Photo/Andy Wong)

World economy may shrink because of virus, watchdog says

Mar. 2, 2020 6:42 AM EST

PARIS (AP) — A global agency says the spreading new virus could make the world economy shrink this quarter for the first time since the international financial crisis more than a decade ago. In a special report on the impact of the virus, the Organization for Economic Cooperation and Development said...

FILE - In this Wednesday, Oct. 23, 2019 file photo, Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on Capitol Hill in Washington on Facebook's impact on the financial services and housing sectors. Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe. (AP Photo/Andrew Harnik, File)

Zuckerberg accepts that Facebook may have to pay more tax

Feb. 14, 2020 8:35 AM EST

LONDON (AP) — Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe. The billionaire social network founder is due to meet members of the European Union's executive Commission in Brussels and speak at the...