Germany to extend coronavirus border controls by 20 days – Bild

BERLIN, April 15 (Reuters) – Germany plans to extend its border controls, introduced last month to help slow the spread of the coronavirus, by 20 days, Bild newspaper reported on Wednesday, citing security sources.

Chancellor Angela Merkel is to hold a video conference with the leaders of Germany’s 16 states later on Wednesday to try to decide whether to relax any of the restrictions imposed in March as there is some improvement in the spread of the epidemic. (Reporting by Madeline Chambers Editing by Michelle Martin)

Concerns grow COVID-19 is spreading undetected in Palestine

Delays in testing capacity are making it hard to get an accurate picture of how widespread the disease may be.

In occupied East Jerusalem, concerns are growing the coronavirus is spreading through Palestinian neighbourhoods undetected.

The number of recorded cases shot up this week to 41, but health workers fear it could actually be double that.

Al Jazeera’s Harry Fawcett reports.

Russia, Turkey hold fourth joint patrol in Syria's Idlib: RIA

MOSCOW (Reuters) – Russia and Turkey held a fourth joint patrol in Syria’s Idlib region, the RIA news agency cited the Russian Reconciliation Centre for Syria as saying on Wednesday.

The patrol covered the M4 highway which links the cities of Aleppo and Latakia, and is part of the two countries’ efforts to uphold a ceasefire agreement in the region.

Latin America economy: IMF forecasts strong regional recession

The IMF predicts the region will suffer its worst recession in half a century.

The International Monetary Fund is forecasting that Latin America will plunge into a recession that could set the clock back more than 50 years in terms of economic growth.

Of the 635 million people who live in Latin America and the Caribbean, at least one third could lose their livelihoods as a result of the coronavirus pandemic.

Al Jazeera’s Lucia Newman has more from Santiago.

Beirut reference rate lowered to 5.75% for dollars – banking association

BEIRUT, April 15 (Reuters) – Lebanon’s banking association said on Wednesday that the Beirut Reference Rate (BRR) was reduced to 5.75% for U.S. dollars and to 7.75% for Lebanese pounds.

The statement said this was down from 9.35% for U.S. dollars and 12.45% for Lebanese pounds at the start of the year.

It said the reduction in the reference rate for lending which came after central bank circulars sought “to alleviate the burdens of borrowing…and stimulate economic activity in the current tough circumstances.” (Reporting by Ellen Francis; Editing by Toby Chopra)

Citigroup Q1 Profit Beats Estimates – Quick Facts

Citigroup Inc. (C) reported first quarter earnings per share of $1.05 compared to $1.87, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.04, for the quarter. Analysts’ estimates typically exclude special items. Net income was $2.5 billion, declined 46% driven by the higher cost of credit, partially offset by the higher revenues and a lower effective tax rate.

First quarter revenues were $20.7 billion, up 12% primarily reflecting the higher revenues in Fixed Income and Equity Markets, as well as the benefit of mark-to-market gains on loan hedges in Corporate Lending. Analysts expected revenue of $19.01 billion for the quarter.

Citigroup’s end-of-period deposits were $1.2 trillion as of quarter end, an increase of 15% from the prior-year period. In constant dollars, end-of-period deposits increased 17%.

Polar Capital shuts 300 million sterling UK equity fund

(Reuters) – Asset manager Polar Capital (POLR.L) said on Wednesday that the directors of its UK Absolute Equity Fund have decided to terminate the fund with effect from next month.

The decision to shut the fund, whose assets under management totalled 290 million pounds ($361.57 million) in early April according to Morningstar data, was immaterial to the core profitability of the group, Polar Capital added.

Citigroup Inc. Earnings Drop In Q1

Citigroup Inc. (C) announced a profit for first quarter that dropped from the same period last year.

The company’s bottom line totaled $2.52 billion, or $1.05 per share. This compares with $4.71 billion, or $1.87 per share, in last year’s first quarter.

Analysts had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 11.6% to $20.73 billion from $18.58 billion last year.

Citigroup Inc. earnings at a glance:

-Earnings (Q1): $2.52 Bln. vs. $4.71 Bln. last year.
-EPS (Q1): $1.05 vs. $1.87 last year.
-Analysts Estimate: $1.04
-Revenue (Q1): $20.73 Bln vs. $18.58 Bln last year.

G20 finance ministers, central bank governors hold virtual meeting to address COVID-19 challenges

DUBAI, April 15 (Reuters) – The finance ministers and central bank governors of the G20 group of the world’s largest economies started on Wednesday a virtual meeting to further address the global challenges presented by the COVID-19 pandemic, the G20 said on Twitter. (Reporting by Maher Chmaytelli; Editing by Toby Chopra)

Canada's March GDP shrinks a record 9% from February – Statscan flash estimate

OTTAWA, April 15 (Reuters) – Canada’s economy shrank a record 9% in March from the previous month as the coronavirus outbreak forced the shutdown of economic activity during the course of the month, Statistics Canada said in a flash estimate on Wednesday.

The monthly decline in gross domestic product (GDP) was the most since the series started in 1961, Statscan said in its first-ever release of a flash estimate for growth. (Reporting by Steve Scherer Editing by Chizu Nomiyama)