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Stock impact report

'Emergency' for millions as coronavirus severs remittance lifeline [Reuters]

Western Union Company (The) (WU) 
Last western union company (the) earnings: 2/11 04:05 pm Check Earnings Report
Company Research Source: Reuters
'Emergency' for millions as coronavirus severs remittance lifeline ROME/AMMAN (Thomson Reuters Foundation) - When Fathy called his family back home in Egypt a week ago, they asked him to send money, as he had for the past year. But he had none, having lost his job as a car painter in the United Arab Emirates in March, when a coronavirus lockdown was introduced. Fathy’s sisters and aunt rely on his monthly transfers to “eat and drink and live”, said the 38-year-old, who declined to give his full name as he has been living and working in the Gulf state without a legal permit. “They’re borrowing a little money from their neighbours at the moment to get by ... my heart goes out to them,” Fathy, who used to send home part of his 1,500 dirhams ($408) salary, told the Thomson Reuters Foundation. Strict curfews, lockdowns and travel bans enforced around the world to slow the spread of the COVID-19 pandemic have decimated jobs and slashed remittances from migrants like Fathy, cutting off a lif Show less Read more
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