November 27, 2020 - Biz in 60

India slips into recession for first time in history India has entered a technical recession for the first time in its history, as the coronavirus pandemic hit consumption and business activity. GDP shrank by 7-and- a-half percent in the July to September period, following the record 24-percent contraction in the prior quarter. Analysts expect South Asia's largest economy to exit from recession early next year. China to impose anti-dumping measures on Australian China will impose tariffs on wine imported from Australia in a further souring of relations between the two countries. The Chinese Commerce Ministry says the anti-dumping duties will take effect on the 28th of November and range from 107-percent to a 212-percent penalty. China is the biggest buyer of Australian wine, importing nearly 1-billion dollars' worth of the beverage last year. Disney increases number of planned job cuts to 32,000 Disney says it's planning to slash another 4-thousand jobs by the end of March, mainly at its theme parks in the US. This will bring the total number of job cuts since the pandemic begain to 32-thousand. Earlier this month, the entertainment giant reported its first annual loss in more than four decades, as cinemas and its theme parks remained empty during the crisis.