Markets
Federal Reserve slashes rates to zero, restarts QE in emergency Sunday announcement
- March 16, 2020
Fed chair Jerome Powell conceded on Sunday there are limits to what the Fed can do for consumers directly. Despite Sunday's rate cut, "markets will remain volatile until investors get a sense of the economic damage from the coronavirus". The Reserve Bank of New Zealand Governor Adrian Orr said the virus was expected to have a severe impact on the economy over the coming year. It also said that banks can use additional cash buffers that were imposed after the 2008 financial crisis for lending. (more...)
- March 16, 2020
Fed chair Jerome Powell conceded on Sunday there are limits to what the Fed can do for consumers directly. Despite Sunday's rate cut, "markets will remain volatile until investors get a sense of the economic damage from the coronavirus". The Reserve Bank of New Zealand Governor Adrian Orr said the virus was expected to have a severe impact on the economy over the coming year. It also said that banks can use additional cash buffers that were imposed after the 2008 financial crisis for lending. (more...)
Bill Gates steps down from Microsoft board
- March 16, 2020
With the departure of Gates from Microsoft Board, it will now consist of 12 members, the company said. In a public statement of the Corporation it is stated that bill gates will continue to be the Advisor for technical issues of Microsoft's CEO and other leaders. (more...)
- March 16, 2020
With the departure of Gates from Microsoft Board, it will now consist of 12 members, the company said. In a public statement of the Corporation it is stated that bill gates will continue to be the Advisor for technical issues of Microsoft's CEO and other leaders. (more...)
China's economy suffers heavy blow as Covid-19 epidemic paralyses activity
- March 16, 2020
Retail sales fell 20.5% in January and February over the same period in 2019, industrial production fell 13.5% and capital investment fell almost 25%, according to the National Office statistics. However, many private-sector economists see that as already well beyond China's reach. "The February slump was diluted in the data by averaging January, when most of the disruption had yet to be felt", said Julian Evans-Pritchard, senior Chinese economist for Capital Economics. (more...)
- March 16, 2020
Retail sales fell 20.5% in January and February over the same period in 2019, industrial production fell 13.5% and capital investment fell almost 25%, according to the National Office statistics. However, many private-sector economists see that as already well beyond China's reach. "The February slump was diluted in the data by averaging January, when most of the disruption had yet to be felt", said Julian Evans-Pritchard, senior Chinese economist for Capital Economics. (more...)
JetBlue Bans Passenger Who Flew While Awaiting Coronavirus Results
- March 16, 2020
A passenger aboard a JetBlue flight from NY to Florida has tested positive for coronavirus . Upon arrival, the passenger notified the crew that he had tested positive for the coronavirus. "This is on top of the enhanced cleaning protocols that have been in have been in place at JFK Airport", the Port Authority said in a statement. 'He was wearing masks and gloves. (more...)
- March 16, 2020
A passenger aboard a JetBlue flight from NY to Florida has tested positive for coronavirus . Upon arrival, the passenger notified the crew that he had tested positive for the coronavirus. "This is on top of the enhanced cleaning protocols that have been in have been in place at JFK Airport", the Port Authority said in a statement. 'He was wearing masks and gloves. (more...)
Nike Is Closing Its Stores Because of the Coronavirus Outbreak
- March 16, 2020
U.S. sportswear giant Nike says it will shut down all retail stores in North America, Europe, Australia and New Zealand, to do its part in stopping the Covid-19 pandemic. Both Nike and Apple said customers can still purchase products and services on their respective websites during the two-week closures. Other major retailers have announced they're closing stores or reducing hours in response to the virus. (more...)
- March 16, 2020
U.S. sportswear giant Nike says it will shut down all retail stores in North America, Europe, Australia and New Zealand, to do its part in stopping the Covid-19 pandemic. Both Nike and Apple said customers can still purchase products and services on their respective websites during the two-week closures. Other major retailers have announced they're closing stores or reducing hours in response to the virus. (more...)
Uber Suspending Accounts Of Riders And Drivers Who Get Coronavirus
- March 16, 2020
The company is supporting drivers and delivery people who are diagnosed with coronavirus or placed in quarantine by a public health authority. Notably, in India, the count now stands at 61 after fresh cases were reported Kerala, Karnataka and Maharashtra. (more...)
- March 16, 2020
The company is supporting drivers and delivery people who are diagnosed with coronavirus or placed in quarantine by a public health authority. Notably, in India, the count now stands at 61 after fresh cases were reported Kerala, Karnataka and Maharashtra. (more...)
USD/JPY drops over 1% as Fed slashes rates to zero
- March 16, 2020
The global financial rout showed no signs of slowing last week. He enthusiastically announced that the Federal Reserve was slashing its target interest rate to zero - and took the opportunity to bash one of his favorite targets, the "fake news" media. (more...)
- March 16, 2020
The global financial rout showed no signs of slowing last week. He enthusiastically announced that the Federal Reserve was slashing its target interest rate to zero - and took the opportunity to bash one of his favorite targets, the "fake news" media. (more...)
Trump's claims of a Google-made coronavirus website were highly exaggerated
- March 16, 2020
Countries like South Korea and Germany have rapidly tested people who have coronavirus infections. Trump claimed in his address that the search and advertising giant would create a website that would help Americans figure out if they need a test for the virus, and if so, where they can go to be tested. (more...)
- March 16, 2020
Countries like South Korea and Germany have rapidly tested people who have coronavirus infections. Trump claimed in his address that the search and advertising giant would create a website that would help Americans figure out if they need a test for the virus, and if so, where they can go to be tested. (more...)
Trump to Declare National Emergency Over Coronavirus: 'Better Late Than Never'
- March 16, 2020
Trump said he was aware of the aide's diagnosis during remarks in the Oval Office on Thursday. President Donald Trump is reportedly anxious after coming into contact with people who have tested positive to coronavirus . Aside from Trump, U.S. vice president Mike Pence also met with Bolsonaro and Wajngarten over the weekend. Wajngarten joined Bolsonaro on a three-day trip to the US and on Saturday was at the Mar-a-Lago resort, where he posted a photo of himself posing beside Trump. (more...)
- March 16, 2020
Trump said he was aware of the aide's diagnosis during remarks in the Oval Office on Thursday. President Donald Trump is reportedly anxious after coming into contact with people who have tested positive to coronavirus . Aside from Trump, U.S. vice president Mike Pence also met with Bolsonaro and Wajngarten over the weekend. Wajngarten joined Bolsonaro on a three-day trip to the US and on Saturday was at the Mar-a-Lago resort, where he posted a photo of himself posing beside Trump. (more...)
ECB Moves to Soothe Investors Unnerved by Lagarde
- March 15, 2020
A temporary envelope of additional net asset purchases of 120 billion euros (135 billion United States dollars) will be added until the end of the year, ensuring a strong contribution from the private sector, the European Central Bank said, which will, along with the existing asset purchase program, "support favourable financing conditions for the real economy in times of heightened uncertainty". (more...)
- March 15, 2020
A temporary envelope of additional net asset purchases of 120 billion euros (135 billion United States dollars) will be added until the end of the year, ensuring a strong contribution from the private sector, the European Central Bank said, which will, along with the existing asset purchase program, "support favourable financing conditions for the real economy in times of heightened uncertainty". (more...)
Royal Caribbean suspends USA cruise operations after national emergency declared
- March 15, 2020
In an unprecedented move Friday that will take a huge economic toll on San Diego, four major cruise companies are suspending for the next month scheduled voyages from the U.S.in response to the coronavirus pandemic . Refund options: If you were supposed to get on the ship March 13 through March 17, you can get a 150% credit toward a future cruise before December 31, 2022. (more...)
- March 15, 2020
In an unprecedented move Friday that will take a huge economic toll on San Diego, four major cruise companies are suspending for the next month scheduled voyages from the U.S.in response to the coronavirus pandemic . Refund options: If you were supposed to get on the ship March 13 through March 17, you can get a 150% credit toward a future cruise before December 31, 2022. (more...)
Delta responds to coronavirus, cuts passenger capacity
- March 15, 2020
It will still operate two flights a day to London and just three flights to Asia per week - to Tokyo. The Trump administration viewed the ability of airlines to continue to fly as a top priority, he said. "Offering short-term, unpaid leaves" and a hiring freeze. United and Southwest could reach deals with their pilots soon, sources said. And as a result of this, Delta now expects a capacity reduction of 40 percent in the next few months, "the largest capacity reduction in Delta's history, ... (more...)
- March 15, 2020
It will still operate two flights a day to London and just three flights to Asia per week - to Tokyo. The Trump administration viewed the ability of airlines to continue to fly as a top priority, he said. "Offering short-term, unpaid leaves" and a hiring freeze. United and Southwest could reach deals with their pilots soon, sources said. And as a result of this, Delta now expects a capacity reduction of 40 percent in the next few months, "the largest capacity reduction in Delta's history, ... (more...)
Inditex to temporarily close all stores in Spain over coronavirus
- March 15, 2020
More than 62 countries, including neighbouring Morocco, have restricted arrivals from Spain , which has so far only stopped flights with Italy. Italy extended the strict restriction on movement from the north to the entire country on March 9 when it registered over 9,000 infections. (more...)
- March 15, 2020
More than 62 countries, including neighbouring Morocco, have restricted arrivals from Spain , which has so far only stopped flights with Italy. Italy extended the strict restriction on movement from the north to the entire country on March 9 when it registered over 9,000 infections. (more...)
Boris Johnson speaks to Australian Prime Minister Scott Morrison over coronavirus pandemic
- March 15, 2020
Chief Medical Officer Brendan Murphy said the cancellation of mass gatherings is a "precautionary" measure. "One of the interesting and positive aspects of this virus is that there have been very few reports of symptomatic infection in children", he said. (more...)
- March 15, 2020
Chief Medical Officer Brendan Murphy said the cancellation of mass gatherings is a "precautionary" measure. "One of the interesting and positive aspects of this virus is that there have been very few reports of symptomatic infection in children", he said. (more...)
Yes Bank reports Rs 18,564-cr loss for Dec quarter
- March 15, 2020
The bank set aside Rs 24,765.73 crore in provisions during the quarter, which led to a depletion of its capital. The bank also reported capital adequacy ratio at 4.2%, this number was 16.4% a year ago and 16.3% in the September quarter. The Central Bureau of Investigations (CBI) said on Friday it had registered a case against wife of the bank's founder and Gautam Thapar, promoter of Avantha Group companies. (more...)
- March 15, 2020
The bank set aside Rs 24,765.73 crore in provisions during the quarter, which led to a depletion of its capital. The bank also reported capital adequacy ratio at 4.2%, this number was 16.4% a year ago and 16.3% in the September quarter. The Central Bureau of Investigations (CBI) said on Friday it had registered a case against wife of the bank's founder and Gautam Thapar, promoter of Avantha Group companies. (more...)
Excise duty on petrol and diesel hiked by Rs 3 per litre
- March 15, 2020
However, since crude oil prices have been falling , this rise will be adjusted, PTI reported. The hike proves that the Centre is in "no mood of passing the benefits of fall in crude oil prices to the customers", as a journalist has put it. (more...)
- March 15, 2020
However, since crude oil prices have been falling , this rise will be adjusted, PTI reported. The hike proves that the Centre is in "no mood of passing the benefits of fall in crude oil prices to the customers", as a journalist has put it. (more...)
Coronavirus outbreak: Twitter makes work from home mandatory for all employees
- March 15, 2020
She further added, "We are moving beyond our earlier guidance of "strongly encouraging work from home" provided on March 2 and have now informed all employees globally they must work from home". The steps taken by the social media giant mirror responses across the US tech industry, with Microsoft Corp. and others committing to pay hourly workers unable to do their on-site jobs and also urging those who can to switch to working remotely. (more...)
- March 15, 2020
She further added, "We are moving beyond our earlier guidance of "strongly encouraging work from home" provided on March 2 and have now informed all employees globally they must work from home". The steps taken by the social media giant mirror responses across the US tech industry, with Microsoft Corp. and others committing to pay hourly workers unable to do their on-site jobs and also urging those who can to switch to working remotely. (more...)
Trump declares national emergency amid coronavirus outbreak
- March 15, 2020
More than 4,700 people have died, including at least 50 people in the United States - and it's expected to get much worse before it gets better. Today, Chair of the House Committee on Transportation and Infrastructure Peter DeFazio (D-OR) and Chair of the Subcommittee on Economic Development, Public Buildings, and Emergency Management Dina Titus (D-NV) issued the following statements after President Trump invoked the Stafford Act. (more...)
- March 15, 2020
More than 4,700 people have died, including at least 50 people in the United States - and it's expected to get much worse before it gets better. Today, Chair of the House Committee on Transportation and Infrastructure Peter DeFazio (D-OR) and Chair of the Subcommittee on Economic Development, Public Buildings, and Emergency Management Dina Titus (D-NV) issued the following statements after President Trump invoked the Stafford Act. (more...)
Fed unveils dramatic measures to ease market strain from virus
- March 15, 2020
USA equity markets more than halved their losses following the announcement with the Dow Jones Industrial Average briefly trimming its drop from about 2,000 points to 800 points in a matter of minutes. All the central bankers can do is aim their powers at the secondary effects: shaken confidence, plunging stocks, anxious consumers and cautious bankers. (more...)
- March 15, 2020
USA equity markets more than halved their losses following the announcement with the Dow Jones Industrial Average briefly trimming its drop from about 2,000 points to 800 points in a matter of minutes. All the central bankers can do is aim their powers at the secondary effects: shaken confidence, plunging stocks, anxious consumers and cautious bankers. (more...)
Chinese billionaire Jack Ma offers US virus test kits masks
- March 15, 2020
The announcement was made by both Alibaba and Jack Ma foundations via a statement . "We hope that our donation can help Americans fight against the pandemic!" he claimed in the declaration, which was published by the Jack MaFoundation Ma, that is China's wealthiest guy, claimed that over the previous weeks, his companies had actually aided supply comparable products to virus-hit nations such as Japan, South Korea, Italy, Iran as well as Spain. (more...)
- March 15, 2020
The announcement was made by both Alibaba and Jack Ma foundations via a statement . "We hope that our donation can help Americans fight against the pandemic!" he claimed in the declaration, which was published by the Jack MaFoundation Ma, that is China's wealthiest guy, claimed that over the previous weeks, his companies had actually aided supply comparable products to virus-hit nations such as Japan, South Korea, Italy, Iran as well as Spain. (more...)
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