Markets
Wall St. trades halted for 3rd time in 6 days
- March 18, 2020
Trading on the three main US stock indices was halted for 15 minutes at the open, the third such pause in six days, as the benchmark index plunged 8% and triggered an automatic cut-out. The US dollar rose 0.7 percent to at 106.67 yen, recovering slightly from a 2 percent decline from the previous session as the Fed's rate rippled through financial markets. (more...)
- March 18, 2020
Trading on the three main US stock indices was halted for 15 minutes at the open, the third such pause in six days, as the benchmark index plunged 8% and triggered an automatic cut-out. The US dollar rose 0.7 percent to at 106.67 yen, recovering slightly from a 2 percent decline from the previous session as the Fed's rate rippled through financial markets. (more...)
Fed offers new credit facility to ease virus pressures
- March 18, 2020
The facility was opened in coordination with the U.S. Treasury , which will provide $10 billion of credit production via its Exchange Stabilization Fund. They play a key role in providing liquidity in the market for U.S. Treasury Securities. An emergency 50 basis point cut from the Federal Reserve on March 3 was not enough to stop market turmoil, and on Sunday night, the central bank made another abrupt announcement by slashing rates to zero . (more...)
- March 18, 2020
The facility was opened in coordination with the U.S. Treasury , which will provide $10 billion of credit production via its Exchange Stabilization Fund. They play a key role in providing liquidity in the market for U.S. Treasury Securities. An emergency 50 basis point cut from the Federal Reserve on March 3 was not enough to stop market turmoil, and on Sunday night, the central bank made another abrupt announcement by slashing rates to zero . (more...)
Saudis to boost oil exports to 10 mn barrels per day
- March 18, 2020
It has slumped more than 50 per cent since January 2. "We expect that the sharp drop in oil prices and the impact of the coronavirus will result in the economy contracting by 1.5 per cent in 2020 and to the loss of about 25,000 jobs in 2020", he stated this past Friday. (more...)
- March 18, 2020
It has slumped more than 50 per cent since January 2. "We expect that the sharp drop in oil prices and the impact of the coronavirus will result in the economy contracting by 1.5 per cent in 2020 and to the loss of about 25,000 jobs in 2020", he stated this past Friday. (more...)
U.S. stocks crash as Fed action fails to calm markets
- March 18, 2020
Over the weekend, Treasury Secretary Steve Mnuchin said the stock market turmoil is a "great investment opportunity" for long-term investment. Major retail stocks fell in tandem with the market, with many taking enormous beatings as Wall Street fears over the virus escalate. (more...)
- March 18, 2020
Over the weekend, Treasury Secretary Steve Mnuchin said the stock market turmoil is a "great investment opportunity" for long-term investment. Major retail stocks fell in tandem with the market, with many taking enormous beatings as Wall Street fears over the virus escalate. (more...)
Qantas to cut 90% of global flights
- March 18, 2020
Qantas stated in a press release that the reductions will extend through "at least the end of May 2020". Previously announced cuts in place from end-May through to mid-September remain in place and are likely to be increased, depending on demand. (more...)
- March 18, 2020
Qantas stated in a press release that the reductions will extend through "at least the end of May 2020". Previously announced cuts in place from end-May through to mid-September remain in place and are likely to be increased, depending on demand. (more...)
Uber Suspends Pooled Rides to Fight Coronavirus Spread
- March 18, 2020
Uber and Lyft, the two largest ridesharing platforms on the market, recently announced temporary changes to limit users' contact with each other. As noted by The Verge , Uber is contemplating whether or not to stop Uber Pool rides in other markets where it's now available. (more...)
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- March 18, 2020
Uber and Lyft, the two largest ridesharing platforms on the market, recently announced temporary changes to limit users' contact with each other. As noted by The Verge , Uber is contemplating whether or not to stop Uber Pool rides in other markets where it's now available. (more...)
United Kingdom government announce 'three-month mortgage holiday' amid coronavirus pandemic
- March 17, 2020
The leisure and retail industry has been hard hit as shoppers and consumers stay away from the high street. Sunak said pubs, bars and theaters with insurance that cover pandemics will be allowed to make insurance claims against their policy. (more...)
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- March 17, 2020
The leisure and retail industry has been hard hit as shoppers and consumers stay away from the high street. Sunak said pubs, bars and theaters with insurance that cover pandemics will be allowed to make insurance claims against their policy. (more...)
Coronavirus pandemic | Brent falls 10%, WTI below $30 as COVID-19 spreads
- March 17, 2020
Oil prices have also been under intense pressure on the supply side, as top exporter Saudi Arabia ramped up output and slashed prices to increase sales to Asia and Europe. "Some of them (US shale oil companies) may not survive prolonged low oil prices , and in this event United States production would decrease". Oilfield services analyst Tim Monachello of AltaCorp Capital is forecasting a 31 per cent decline in the average working rig count in Canada for the rest of 2020 even if the USA ... (more...)
- March 17, 2020
Oil prices have also been under intense pressure on the supply side, as top exporter Saudi Arabia ramped up output and slashed prices to increase sales to Asia and Europe. "Some of them (US shale oil companies) may not survive prolonged low oil prices , and in this event United States production would decrease". Oilfield services analyst Tim Monachello of AltaCorp Capital is forecasting a 31 per cent decline in the average working rig count in Canada for the rest of 2020 even if the USA ... (more...)
United Kingdom airline Jet2.com cancels flights to Spain over coronavirus
- March 17, 2020
The government has declared a two-week state of emergency and placed 60,000 people in four towns under mandatory lockdown on Friday. No less than half a dozen flights are understood to have been affected on Saturday morning, in accordance with web site FlightRadar24. (more...)
- March 17, 2020
The government has declared a two-week state of emergency and placed 60,000 people in four towns under mandatory lockdown on Friday. No less than half a dozen flights are understood to have been affected on Saturday morning, in accordance with web site FlightRadar24. (more...)
Oman's daily oil production touches 955500 barrels in February 2020
- March 17, 2020
U.S. West Texas Intermediate (WTI) crude CLc1 rose 3.7%, or $1.06, to $29.76, having come off a high of $30.21. A number of Canadian players also saw their stock price take a hit, including Canadian Natural Resources, which was down $5.41, or 27 per cent, to $14.44 per share. (more...)
- March 17, 2020
U.S. West Texas Intermediate (WTI) crude CLc1 rose 3.7%, or $1.06, to $29.76, having come off a high of $30.21. A number of Canadian players also saw their stock price take a hit, including Canadian Natural Resources, which was down $5.41, or 27 per cent, to $14.44 per share. (more...)
Markets crater as coronavirus fears overwhelm central bank emergency measures
- March 17, 2020
S&P 500 and Nasdaq 100 futures were also up more than 3 percent, according to Market Watch . Trading on Wall Street has been halted on Monday after stocks had plunged immediately after the opening bell, despite the promise by the US Federal Reserve to provide more stimulus. (more...)
- March 17, 2020
S&P 500 and Nasdaq 100 futures were also up more than 3 percent, according to Market Watch . Trading on Wall Street has been halted on Monday after stocks had plunged immediately after the opening bell, despite the promise by the US Federal Reserve to provide more stimulus. (more...)
Senate weighs emergency coronavirus pandemic funds; Trump seeks $850 billion more
- March 17, 2020
Trump has for several weeks pushed Congress to cut or eliminate the payroll tax, which is paid by employees and employers and funds Social Security and Medicare benefits. As part of the federal response to the coronavirus crisis , Congress approved an $8.3 billion emergency bill last week, specifically meant to address concerns related to public-health infrastructure. (more...)
- March 17, 2020
Trump has for several weeks pushed Congress to cut or eliminate the payroll tax, which is paid by employees and employers and funds Social Security and Medicare benefits. As part of the federal response to the coronavirus crisis , Congress approved an $8.3 billion emergency bill last week, specifically meant to address concerns related to public-health infrastructure. (more...)
Uber Eats waives food delivery fees
- March 17, 2020
Caviar also implemented the ability to request "no-contact delivery", where customers add instructions at checkout detailing where to leave their food; similarly, Uber Eats recently launched a user campaign driving awareness of contactless delivery. (more...)
- March 17, 2020
Caviar also implemented the ability to request "no-contact delivery", where customers add instructions at checkout detailing where to leave their food; similarly, Uber Eats recently launched a user campaign driving awareness of contactless delivery. (more...)
Trump humiliation: US President admits coronavirus may last longer than previously thought
- March 17, 2020
Officials recommend that large swaths of the population isolate themselves, and everyone avoids social gatherings or groups of more than 10 people. "When you're dealing with an emerging infectious disease's outbreak, you are already behind where you think you are", Dr. (more...)
- March 17, 2020
Officials recommend that large swaths of the population isolate themselves, and everyone avoids social gatherings or groups of more than 10 people. "When you're dealing with an emerging infectious disease's outbreak, you are already behind where you think you are", Dr. (more...)
U.S. stock futures tumble after Fed slashes rates
- March 17, 2020
But the Fed was only able to raise the top of its target range to 2.5% - or less than half their pre-recession levels - before it started cutting rates again in 2019 because of the trade war. The swap lines are standing facilities that serve as a liquidity backstop, and can help counter the effect of both domestic and global supply line strains as the coronavirus is expected to spread, the Fed said. (more...)
- March 17, 2020
But the Fed was only able to raise the top of its target range to 2.5% - or less than half their pre-recession levels - before it started cutting rates again in 2019 because of the trade war. The swap lines are standing facilities that serve as a liquidity backstop, and can help counter the effect of both domestic and global supply line strains as the coronavirus is expected to spread, the Fed said. (more...)
USA stocks dive more than 10% in early trading on recession worries
- March 17, 2020
Volatility continued to remain the most elevated since the 2008 crash with stocks sinking despite the US Fed cut interest rates to zero a day earlier and unveiled a United States dollars 700 billion quantitative easing programme. But severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases. (more...)
- March 17, 2020
Volatility continued to remain the most elevated since the 2008 crash with stocks sinking despite the US Fed cut interest rates to zero a day earlier and unveiled a United States dollars 700 billion quantitative easing programme. But severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases. (more...)
Amazon seeks to hire 100,000 to keep up with surge in orders
- March 17, 2020
Amazon added that some of its promised delivery times have also been delayed. However, the service told us to expect our delivery on Thursday. An Amazon spokeswoman did not immediately return a request for comment on the San Francisco order. (more...)
- March 17, 2020
Amazon added that some of its promised delivery times have also been delayed. However, the service told us to expect our delivery on Thursday. An Amazon spokeswoman did not immediately return a request for comment on the San Francisco order. (more...)
RBNZ reduces rates by 75bp in emergency meeting
- March 17, 2020
New Zealand Prime Minister Jacinda Ardern announced tough new measures on Saturday to protect the country against the virus by declaring everyone entering the country must self-isolate. "But we are all singing off the same song sheet". The U.S. -to-New Zealand Dollar exchange rate is quoted at 0.6056, up 0.15% today but down 0.25% since markets opened on Sunday. (more...)
- March 17, 2020
New Zealand Prime Minister Jacinda Ardern announced tough new measures on Saturday to protect the country against the virus by declaring everyone entering the country must self-isolate. "But we are all singing off the same song sheet". The U.S. -to-New Zealand Dollar exchange rate is quoted at 0.6056, up 0.15% today but down 0.25% since markets opened on Sunday. (more...)
Wall Street pounded as Federal Reserve`s shock move raises Coronavirus impact alarm
- March 16, 2020
Wall Street's fear gauge jumped 17.24 points to 75.29. Emergency actions taken by the Federal Reserve on Monday NZT to prop up the economy and get financial markets running smoothly again may have raised fears even further, some investors said . (more...)
- March 16, 2020
Wall Street's fear gauge jumped 17.24 points to 75.29. Emergency actions taken by the Federal Reserve on Monday NZT to prop up the economy and get financial markets running smoothly again may have raised fears even further, some investors said . (more...)
France hits Apple with a $1.23 billion anti-competitive fine
- March 16, 2020
As well as striking deals with premium resellers, the company stopped resellers from being able to lower their prices, keeping pricing identical across nearly half of the retail market, according to The Verge . The head of the authority, Isabelle de Silva, said it was "the heaviest fine against a firm" as well as in any case, which also included two of Apple's wholesalers in France who were hit with fines worth almost 140 million euros. (more...)
- March 16, 2020
As well as striking deals with premium resellers, the company stopped resellers from being able to lower their prices, keeping pricing identical across nearly half of the retail market, according to The Verge . The head of the authority, Isabelle de Silva, said it was "the heaviest fine against a firm" as well as in any case, which also included two of Apple's wholesalers in France who were hit with fines worth almost 140 million euros. (more...)
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