Markets
U.S. Futures Jump After Dow's Worst Day Since 1987
- March 15, 2020
The Dow Jones Industrial Average , the largest equities gauge on the New York Stock Exchange has jumped 1,200 points upon opening, a day after the market's worst performance since the 1987 Black Monday crash, according to trading data. Asian markets ended a volatile day mostly lower. Oil prices rose, with global benchmark Brent crude climbing 4% to trade at $34.55. The selling has been so swift and sharp that there remains the potential for a significant bounce after the virus and its ... (more...)
- March 15, 2020
The Dow Jones Industrial Average , the largest equities gauge on the New York Stock Exchange has jumped 1,200 points upon opening, a day after the market's worst performance since the 1987 Black Monday crash, according to trading data. Asian markets ended a volatile day mostly lower. Oil prices rose, with global benchmark Brent crude climbing 4% to trade at $34.55. The selling has been so swift and sharp that there remains the potential for a significant bounce after the virus and its ... (more...)
Spread Of Coronavirus Made Twitter Staff Do Work From Home
- March 15, 2020
This goes for all Twitter workers across the world and has thrown a wrench in some people's lives who are unable to do so. " Twitter will continue to pay their labor costs to cover standard working hours while Twitter's work-from-home guidance and/or travel restrictions related to their assigned office are in effect", said Christie. (more...)
- March 15, 2020
This goes for all Twitter workers across the world and has thrown a wrench in some people's lives who are unable to do so. " Twitter will continue to pay their labor costs to cover standard working hours while Twitter's work-from-home guidance and/or travel restrictions related to their assigned office are in effect", said Christie. (more...)
Coronavirus: Major cruise lines suspend sailings
- March 15, 2020
Norwegian Cruise Line , which operates NCL, Regent Seven Seas Cruises and Oceania Cruises, will stop cruises from March 13 until April 11. The announcement comes a day after the Walt Disney company announced it was suspending all Disney cruises and closing Disneyland and Disney World. (more...)
- March 15, 2020
Norwegian Cruise Line , which operates NCL, Regent Seven Seas Cruises and Oceania Cruises, will stop cruises from March 13 until April 11. The announcement comes a day after the Walt Disney company announced it was suspending all Disney cruises and closing Disneyland and Disney World. (more...)
Coronavirus insurance: India moves to protect patients as United Kingdom companies limit cover
- March 15, 2020
The provider maintained that it remains committed to the travel insurance market and noted that this is a temporary move "given the exceptional circumstances we find ourselves in". Gareth Shaw, head of money at Which? said, "It's very alarming that LV= have withdrawn the sale of travel insurance and that other providers have also started restricting the policies they offer customers". (more...)
- March 15, 2020
The provider maintained that it remains committed to the travel insurance market and noted that this is a temporary move "given the exceptional circumstances we find ourselves in". Gareth Shaw, head of money at Which? said, "It's very alarming that LV= have withdrawn the sale of travel insurance and that other providers have also started restricting the policies they offer customers". (more...)
United Kingdom launches €34 bln coronavirus mitigation package
- March 15, 2020
Mr Sunak said the government was working with the banking sector to "do everything it takes to support businesses through this hard time". Dr Carney said the impact of the disease was "potentially large but ultimately temporary". On the economic forecasts, he said: "Projected growth rates averaging barely over 1.5% a year for the next five years are feeble, frankly". "While I'm pleased to see the UK Government's economic response to coronavirus following my calls for this at the UK ... (more...)
- March 15, 2020
Mr Sunak said the government was working with the banking sector to "do everything it takes to support businesses through this hard time". Dr Carney said the impact of the disease was "potentially large but ultimately temporary". On the economic forecasts, he said: "Projected growth rates averaging barely over 1.5% a year for the next five years are feeble, frankly". "While I'm pleased to see the UK Government's economic response to coronavirus following my calls for this at the UK ... (more...)
State banning gatherings of 500 or more to limit spread of coronavirus
- March 15, 2020
Cuomo said venues of under 500 people can only be filled to half their capacity. The new rules will take effect as of 5 pm EDT on Friday, March 12 . A poster on Times Square advertises West Side Story at the Broadway Theater on February 7, 2020 in New York City. "I don't want to see Broadway go dark if we can avoid it", de Blasio told CNN in a Thursday morning interview. (more...)
- March 15, 2020
Cuomo said venues of under 500 people can only be filled to half their capacity. The new rules will take effect as of 5 pm EDT on Friday, March 12 . A poster on Times Square advertises West Side Story at the Broadway Theater on February 7, 2020 in New York City. "I don't want to see Broadway go dark if we can avoid it", de Blasio told CNN in a Thursday morning interview. (more...)
CH Robinson Asks Seattle Employees To Telecommute As Coronavirus Spreads
- March 15, 2020
Washington state has reported the largest number of coronavirus cases in the U.S. Health officials as of Thursday afternoon had reported at least 70 confirmed cases. "We are providing real-time guidance to employees in all affected regions", the company told AFP. A number of techies in the Seattle area have tested positive for the deadly coronavirus. (more...)
- March 15, 2020
Washington state has reported the largest number of coronavirus cases in the U.S. Health officials as of Thursday afternoon had reported at least 70 confirmed cases. "We are providing real-time guidance to employees in all affected regions", the company told AFP. A number of techies in the Seattle area have tested positive for the deadly coronavirus. (more...)
Stocks Tumble With Investors Losing Faith in Trump: Markets Wrap
- March 15, 2020
European shares plummeted to their lowest in nearly four years, with the benchmark STOXX 600 index falling 6% by midday in London. Hong Kong stocks plunged to close at a near three-year low. stock bull run. In the money market, traders further raised expectations of another US rate cut, even after the Fed's emergency cut last week. The news came after the World Health Organisation (WHO) officially labelled the outbreak a pandemic and hit out at "alarming levels of inaction" for its spread. (more...)
- March 15, 2020
European shares plummeted to their lowest in nearly four years, with the benchmark STOXX 600 index falling 6% by midday in London. Hong Kong stocks plunged to close at a near three-year low. stock bull run. In the money market, traders further raised expectations of another US rate cut, even after the Fed's emergency cut last week. The news came after the World Health Organisation (WHO) officially labelled the outbreak a pandemic and hit out at "alarming levels of inaction" for its spread. (more...)
Bank of Canada cuts interest rate - again
- March 14, 2020
On Friday, the central bank acted outside of its regular dates for rate announcements. The bank is predicting Canada's economy will grow at an annualized pace of 0.8 per cent in the first quarter, but then contract in the second and third quarters of the year. (more...)
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- March 14, 2020
On Friday, the central bank acted outside of its regular dates for rate announcements. The bank is predicting Canada's economy will grow at an annualized pace of 0.8 per cent in the first quarter, but then contract in the second and third quarters of the year. (more...)
Global stocks dive on pandemic impact and US travel ban
- March 14, 2020
The Dow's drop was larger than the 7.9% fall seen on October 15, 2008, during the financial crisis, and marked the biggest loss since Black Monday's 22.6%. After the 2008 financial crisis, monetary easing and Chinese fiscal stimulus buoyed equity markets following the initial crash. More than 126,000 people in more than 110 countries have been infected. (more...)
- March 14, 2020
The Dow's drop was larger than the 7.9% fall seen on October 15, 2008, during the financial crisis, and marked the biggest loss since Black Monday's 22.6%. After the 2008 financial crisis, monetary easing and Chinese fiscal stimulus buoyed equity markets following the initial crash. More than 126,000 people in more than 110 countries have been infected. (more...)
Australia unveils $11.4B in coronavirus outbreak stimulus
- March 14, 2020
QUEENSLANDERS are set to benefit from the stimulus package, with $750 handouts for pensioners, farmers, students and families, as well as a specific measure targeted at boosting up the state's north. As well, casual workers will get immediate access to a sickness payment if they need to self-isolate. The Australian Meat Industry Council's chief executive officer Patrick Hutchinson said the red meat industry would benefit from the package at a time when it is suffering from record input ... (more...)
- March 14, 2020
QUEENSLANDERS are set to benefit from the stimulus package, with $750 handouts for pensioners, farmers, students and families, as well as a specific measure targeted at boosting up the state's north. As well, casual workers will get immediate access to a sickness payment if they need to self-isolate. The Australian Meat Industry Council's chief executive officer Patrick Hutchinson said the red meat industry would benefit from the package at a time when it is suffering from record input ... (more...)
As central banks intervene to calm markets, few see solution
- March 14, 2020
Not only did stocks in Europe and the USA nosedive on Thursday, but the ultra-safe government bond market malfunctioned on Thursday morning. Marcel Fratscher, head of the German Institute for Economic Research in Berlin, told the dpa news agency that "unlike during the global financial crisis, the central banks will only be able to help a little in combating the economic damage from the coronavirus ". (more...)
- March 14, 2020
Not only did stocks in Europe and the USA nosedive on Thursday, but the ultra-safe government bond market malfunctioned on Thursday morning. Marcel Fratscher, head of the German Institute for Economic Research in Berlin, told the dpa news agency that "unlike during the global financial crisis, the central banks will only be able to help a little in combating the economic damage from the coronavirus ". (more...)
Delta expands flight cutbacks on worsening coronavirus impact
- March 14, 2020
Charlotte Douglas International Airport's dominant carrier said late Thursday that along with suspending flights Friday from CLT to Frankfurt and Munich, the airline plans to cut more international flights this summer by 34%. "You will see us continue to be very disciplined with capacity as the situation evolves", Virgin Australia Chief Executive Paul Scurrah told reporters, echoing similar comments by rival Qantas Airways Ltd QAN.AX earlier in the week. (more...)
- March 14, 2020
Charlotte Douglas International Airport's dominant carrier said late Thursday that along with suspending flights Friday from CLT to Frankfurt and Munich, the airline plans to cut more international flights this summer by 34%. "You will see us continue to be very disciplined with capacity as the situation evolves", Virgin Australia Chief Executive Paul Scurrah told reporters, echoing similar comments by rival Qantas Airways Ltd QAN.AX earlier in the week. (more...)
IAG's British Airways Axes Italy Flights For Tuesday
- March 14, 2020
From Wednesday, it will cancel all Italian domestic flights and then suspend its worldwide services from Friday until early next month, Ryanair said in a statement . The measures extend a quarantine zone that Italy had imposed on Sunday for its industrial northern heartland around the cities of Milan and Venice. (more...)
- March 14, 2020
From Wednesday, it will cancel all Italian domestic flights and then suspend its worldwide services from Friday until early next month, Ryanair said in a statement . The measures extend a quarantine zone that Italy had imposed on Sunday for its industrial northern heartland around the cities of Milan and Venice. (more...)
Why Saudi Arabia launched an oil price war
- March 14, 2020
Producers still buy the put options as insurance, but they also sell other put options, often with a lower price point - to lower or eliminate the cost of their insurance. However, Moscow declared it had had enough. The Saudis say their after-tax breakeven costs for producing fields were below US$10 per barrel, compared with just over US$20 per barrel for the UAE, more than US$40 per barrel for Russian Federation, and nearly US$50 per barrel for Nigeria. (more...)
- March 14, 2020
Producers still buy the put options as insurance, but they also sell other put options, often with a lower price point - to lower or eliminate the cost of their insurance. However, Moscow declared it had had enough. The Saudis say their after-tax breakeven costs for producing fields were below US$10 per barrel, compared with just over US$20 per barrel for the UAE, more than US$40 per barrel for Russian Federation, and nearly US$50 per barrel for Nigeria. (more...)
Iran Calls For IMF Help to Fight its Deadliest Pandemic
- March 14, 2020
Hamti confirmed that "given the widespread outbreak of the new corona virus in our country and the need to continue to take strong measures to prevent and recover (from this disease) and to counter its economic repercussions", Iran is requesting an aid worth "approximately $ 5 billion" from the International Monetary Fund. (more...)
- March 14, 2020
Hamti confirmed that "given the widespread outbreak of the new corona virus in our country and the need to continue to take strong measures to prevent and recover (from this disease) and to counter its economic repercussions", Iran is requesting an aid worth "approximately $ 5 billion" from the International Monetary Fund. (more...)
Buffett cancels annual shareholders meeting
- March 14, 2020
The meeting is to be live-streamed by Yahoo Finance, and Berkshire said last week it will occur "irrespective of conditions at that time", but other events may be changed. Berkshire's shareholder weekend typically attracts 40,000 or more people to Omaha, including 5,000 from China. "It's a reunion. It's a rite of spring". (more...)
- March 14, 2020
The meeting is to be live-streamed by Yahoo Finance, and Berkshire said last week it will occur "irrespective of conditions at that time", but other events may be changed. Berkshire's shareholder weekend typically attracts 40,000 or more people to Omaha, including 5,000 from China. "It's a reunion. It's a rite of spring". (more...)
Dow has another record point drop on Thursday as coronavirus cases spread
- March 13, 2020
Bank of Japan Gov. Haruhiko Kuroda said the central bank "will take appropriate steps as needed". On Wednesday, the Dow entered bear market territory for the first time since the 2008 financial crisis. Shares of Delta are down 13% in premarket trading, while American Airlines' stock is off 14%. The declines followed another volatile day on Wall Street in a roller coaster week for the markets driven by the novel coronavirus outbreak and plummeting oil prices . (more...)
- March 13, 2020
Bank of Japan Gov. Haruhiko Kuroda said the central bank "will take appropriate steps as needed". On Wednesday, the Dow entered bear market territory for the first time since the 2008 financial crisis. Shares of Delta are down 13% in premarket trading, while American Airlines' stock is off 14%. The declines followed another volatile day on Wall Street in a roller coaster week for the markets driven by the novel coronavirus outbreak and plummeting oil prices . (more...)
Dow plummets more than 1,200 points on coronavirus, oil concerns
- March 13, 2020
The declines pushed the Dow more than 20% below its recent high, a threshold that often accompanies a recession. The index would need to close below 23641.136 to end the current bull market, an extraordinary run of stock gains that began in 2009. (more...)
- March 13, 2020
The declines pushed the Dow more than 20% below its recent high, a threshold that often accompanies a recession. The index would need to close below 23641.136 to end the current bull market, an extraordinary run of stock gains that began in 2009. (more...)
Australian privacy watchdog launches court action against Facebook over Cambridge Analytica access
- March 13, 2020
Cambridge Analytica shut its doors after it was discovered that it pinched the personal information of up to 87 million Facebook users in an effort to target political advertising. The agency says Facebook didn't take reasonable steps to protect user information. The reports were based on Christopher Wylie, a key figure behind Cambridge Analytica's formation who has since turned whistleblower. (more...)
- March 13, 2020
Cambridge Analytica shut its doors after it was discovered that it pinched the personal information of up to 87 million Facebook users in an effort to target political advertising. The agency says Facebook didn't take reasonable steps to protect user information. The reports were based on Christopher Wylie, a key figure behind Cambridge Analytica's formation who has since turned whistleblower. (more...)
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United Kingdom imposes mandatory COVID-19 tests for worldwide travellers amid virus surge