Markets
New (seventh-gen) Hyundai Elantra revealed with 'four-door coupé' look!
- March 19, 2020
It even gets a blacked-out deck accent which enhances the compact's coupe-like appearance. A 6-speed manual was initially available in both the sedan and hatchback, but Hyundai dropped that option for the Elantra Sport in its final model year. (more...)
- March 19, 2020
It even gets a blacked-out deck accent which enhances the compact's coupe-like appearance. A 6-speed manual was initially available in both the sedan and hatchback, but Hyundai dropped that option for the Elantra Sport in its final model year. (more...)
Fed launches emergency short-term lending facility amid coronavirus crisis
- March 19, 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. Its demise forced the Fed to launch new programmes to shore up both the commercial paper and money market fund sectors. The facility would be available to companies of various industries, not just banks. (more...)
- March 19, 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. Its demise forced the Fed to launch new programmes to shore up both the commercial paper and money market fund sectors. The facility would be available to companies of various industries, not just banks. (more...)
Trump announces closure of United States border with Canada for non-essential traffic
- March 19, 2020
Meanwhile, Canada's Foreign Minister Francois-Philippe Champagne notified that Canadian Prime Minister Justin Trudeau is going to make an announcement on the issue. Canada and the United States will announce a deal to partially close their borders on Wednesday, which will allow trade and commerce to go on, the Globe and Mail reported, citing sources. (more...)
- March 19, 2020
Meanwhile, Canada's Foreign Minister Francois-Philippe Champagne notified that Canadian Prime Minister Justin Trudeau is going to make an announcement on the issue. Canada and the United States will announce a deal to partially close their borders on Wednesday, which will allow trade and commerce to go on, the Globe and Mail reported, citing sources. (more...)
Downing Street unfurls $420 billion bailout for United Kingdom firms hit by coronavirus
- March 19, 2020
The gargantuan amount of £330 billion to support United Kingdom businesses will go far, however the nature of this money - promised in the form of loans - is only enough in the immediate interim. He said he would set out further steps in the coming days, and that he was holding talks with unions and business groups to develop a form of employment support to help protect jobs and incomes. (more...)
- March 19, 2020
The gargantuan amount of £330 billion to support United Kingdom businesses will go far, however the nature of this money - promised in the form of loans - is only enough in the immediate interim. He said he would set out further steps in the coming days, and that he was holding talks with unions and business groups to develop a form of employment support to help protect jobs and incomes. (more...)
Apple Fined $1.23B for Anti-Competitive Behavior in France
- March 19, 2020
French authorities have concluded that the tech giant is guilty of a number of anti-competitive practices. Google was fined $166 million a year ago for over its anti-advertising practices by the French Competition Authority. "It is also the heaviest sanction pronounced against an economic player, in this case Apple , whose extraordinary dimension has been duly taken into account". (more...)
- March 19, 2020
French authorities have concluded that the tech giant is guilty of a number of anti-competitive practices. Google was fined $166 million a year ago for over its anti-advertising practices by the French Competition Authority. "It is also the heaviest sanction pronounced against an economic player, in this case Apple , whose extraordinary dimension has been duly taken into account". (more...)
Reserve Bank cuts interest rates to a new record low
- March 19, 2020
Fidelity International's cross-asset specialist Anthony Doyle said Thursday's rate cut and the commencement of a QE program was an historic day for the nation. The Reserve Bank of Australia and the Morrison government both announced measures on Thursday to encourage lending to businesses and to boost demand in the Australian economy, flagging due to the shock of the coronavirus. (more...)
- March 19, 2020
Fidelity International's cross-asset specialist Anthony Doyle said Thursday's rate cut and the commencement of a QE program was an historic day for the nation. The Reserve Bank of Australia and the Morrison government both announced measures on Thursday to encourage lending to businesses and to boost demand in the Australian economy, flagging due to the shock of the coronavirus. (more...)
Cryptocurrency Trading Needs a Circuit Breaker to Neutralize Profits and Losses
- March 19, 2020
It was the 3rd time in a week that exchanges triggered so-called circuit breakers, but traders disagreed about whether they're helping or hurting. The morning after the Federal Reserve cut its interest rates to near zero at the urging of the President (a move meant to stabilize jittery markets anxious about the economic fallout from the global response to the novel coronavirus pandemic), all of the indexes posted major losses. (more...)
- March 19, 2020
It was the 3rd time in a week that exchanges triggered so-called circuit breakers, but traders disagreed about whether they're helping or hurting. The morning after the Federal Reserve cut its interest rates to near zero at the urging of the President (a move meant to stabilize jittery markets anxious about the economic fallout from the global response to the novel coronavirus pandemic), all of the indexes posted major losses. (more...)
Coronavirus: Ford, GM, Fiat Chrysler Shutting Down U.S. Factories
- March 19, 2020
The GM suspension "will last until at least March 30", the company said, adding that "production status will be reevaluated week-to-week after that". In addition, Hyundai suspended production at its plant in Montgomery, Alabama, plant Wednesday after a worker tested positive for the coronavirus . (more...)
- March 19, 2020
The GM suspension "will last until at least March 30", the company said, adding that "production status will be reevaluated week-to-week after that". In addition, Hyundai suspended production at its plant in Montgomery, Alabama, plant Wednesday after a worker tested positive for the coronavirus . (more...)
US Crude Hits 18-Year Low as Lockdowns, Restrictions Spread
- March 19, 2020
Oil prices fell for a third session on Wednesday, with United States crude futures tumbling to an 18-year low and Brent hitting a more than 16-year low as travel and social lockdowns to counter the coronavirus raised prospect of the steepest ever annual fall in oil demand. (more...)
- March 19, 2020
Oil prices fell for a third session on Wednesday, with United States crude futures tumbling to an 18-year low and Brent hitting a more than 16-year low as travel and social lockdowns to counter the coronavirus raised prospect of the steepest ever annual fall in oil demand. (more...)
Stocks Hammered, Dow Drops To Lowest Since February 2017
- March 19, 2020
Wednesday market the fourth time in a week that a circuit breaker was triggered. In early trading, the Dow Jones Industrial Average was down 919.45 points, or 4.33 per cent, at 20,317.93, the S&P 500 was down 96.62 points, or 3.82 per cent, at 2,432.57. (more...)
- March 19, 2020
Wednesday market the fourth time in a week that a circuit breaker was triggered. In early trading, the Dow Jones Industrial Average was down 919.45 points, or 4.33 per cent, at 20,317.93, the S&P 500 was down 96.62 points, or 3.82 per cent, at 2,432.57. (more...)
Qantas, Air New Zealand slash more flights amid travel restrictions
- March 19, 2020
Air New Zealand could cut its workforce by as much as 3750, say the New Zealand Air Line Pilots' Association. United Kingdom airlines called on the British government to help ensure their survival, while Germany's Tui AG and Scandinavian carrier SAS said they would suspend the vast majority of operations due to the COVID-19 outbreak and apply for government support. (more...)
- March 19, 2020
Air New Zealand could cut its workforce by as much as 3750, say the New Zealand Air Line Pilots' Association. United Kingdom airlines called on the British government to help ensure their survival, while Germany's Tui AG and Scandinavian carrier SAS said they would suspend the vast majority of operations due to the COVID-19 outbreak and apply for government support. (more...)
New York Stock Exchange to close trading floor Monday until further notice
- March 19, 2020
All-electronic trading will begin on March 23 at the open, the exchange said . " They want to come in, but we have taken precautions to protect them and their communities ". The New York Stock Exchange said Wednesday it will temporarily close its historic trading floor and move fully to electronic trading after two people tested positive for coronavirus infection at screenings it had set up this week. (more...)
- March 19, 2020
All-electronic trading will begin on March 23 at the open, the exchange said . " They want to come in, but we have taken precautions to protect them and their communities ". The New York Stock Exchange said Wednesday it will temporarily close its historic trading floor and move fully to electronic trading after two people tested positive for coronavirus infection at screenings it had set up this week. (more...)
GM, Ford Say Employees Have Tested Positive For COVID-19
- March 18, 2020
UAW President Rory Gamble said in an email to members that attempts to shut down production completely for two weeks were unsuccessful as the automakers would not agree to that. He said he just wants GM to do what's best for its employee's health. Fiat Chrysler says it has "already implemented extensive protocols to ensure the health and welfare of our workforce" and that it is "continuing to carefully monitor the situation and are making improvements as needed". (more...)
- March 18, 2020
UAW President Rory Gamble said in an email to members that attempts to shut down production completely for two weeks were unsuccessful as the automakers would not agree to that. He said he just wants GM to do what's best for its employee's health. Fiat Chrysler says it has "already implemented extensive protocols to ensure the health and welfare of our workforce" and that it is "continuing to carefully monitor the situation and are making improvements as needed". (more...)
Coronavirus measures: Chancellor's full speech as Sunak announces loans worth £330 billion
- March 18, 2020
Addressing Sunak, Chishti said: "A specific point for the chancellor that's been raised with me by the chairman of Gillingham Football Club, division one football club, and also covering division two". The number of deaths has risen to 69 across the UK. He added: "But many of those businesses don't have insurance - so we will go further". "We are in a war against an invisible killer", United Kingdom health secretary Matt Hancock said, adding that emergency legislation to tackle the virus ... (more...)
- March 18, 2020
Addressing Sunak, Chishti said: "A specific point for the chancellor that's been raised with me by the chairman of Gillingham Football Club, division one football club, and also covering division two". The number of deaths has risen to 69 across the UK. He added: "But many of those businesses don't have insurance - so we will go further". "We are in a war against an invisible killer", United Kingdom health secretary Matt Hancock said, adding that emergency legislation to tackle the virus ... (more...)
Malaysia lockdown complicates business and life in Singapore
- March 18, 2020
Malaysia will do its utmost best to facilitate the flow of essential goods and supplies, such as fresh food and pharmaceuticals, to Singapore , International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said. In a statement, MOM said that companies should encourage affected workers to stay with relatives, friends or colleagues during the implementation of Malaysia's 14-day Movement Control Order . (more...)
- March 18, 2020
Malaysia will do its utmost best to facilitate the flow of essential goods and supplies, such as fresh food and pharmaceuticals, to Singapore , International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said. In a statement, MOM said that companies should encourage affected workers to stay with relatives, friends or colleagues during the implementation of Malaysia's 14-day Movement Control Order . (more...)
Loans worth £330bn to save economy
- March 18, 2020
He further announced government backed loans "to get businesses through this". The chancellor, Rishi Sunack, said on Tuesday if more help was needed it would be provided, with a pledge to deliver "whatever it takes" to keep companies and people solvent. (more...)
- March 18, 2020
He further announced government backed loans "to get businesses through this". The chancellor, Rishi Sunack, said on Tuesday if more help was needed it would be provided, with a pledge to deliver "whatever it takes" to keep companies and people solvent. (more...)
Tesla plant reportedly to remain open despite shelter guide at coronavirus site
- March 18, 2020
Alameda County has declared Tesla an "essential business" that is allowed to remain in operation, according to a county spokesman. A spokesman for California's Alameda County, where Tesla's Fremont factory is located, said the county was consulting its lawyers and health officials to evaluate the situation and provide an answer by the end of the day. (more...)
- March 18, 2020
Alameda County has declared Tesla an "essential business" that is allowed to remain in operation, according to a county spokesman. A spokesman for California's Alameda County, where Tesla's Fremont factory is located, said the county was consulting its lawyers and health officials to evaluate the situation and provide an answer by the end of the day. (more...)
UK, Ireland restrictions prompt US Airlines to institute more flight cuts
- March 18, 2020
Scott Kirby, president of the airline, to almost 100,000 employees, said that "you won't be surprised to hear that the impact of the coronavirus on our business has also gotten quite a bit worse". International Consolidated Airlines Group, the parent company that also owns Iberia and Aer Lingus, said it would also ground flights, freeze discretionary spending, reduce working hours and temporarily suspend employment contracts. (more...)
- March 18, 2020
Scott Kirby, president of the airline, to almost 100,000 employees, said that "you won't be surprised to hear that the impact of the coronavirus on our business has also gotten quite a bit worse". International Consolidated Airlines Group, the parent company that also owns Iberia and Aer Lingus, said it would also ground flights, freeze discretionary spending, reduce working hours and temporarily suspend employment contracts. (more...)
Pandemic has sent oil prices to multi-year lows
- March 18, 2020
On Monday it sank to $29.45, the lowest since January 2016. The global price war has threatened to push supply to never-before-seen levels, according to IHS Markit. Global oil prices have gone into meltdown as the novel coronavirus hits the global economy, slashing demand even as producers boost their output after the talks collapsed . (more...)
- March 18, 2020
On Monday it sank to $29.45, the lowest since January 2016. The global price war has threatened to push supply to never-before-seen levels, according to IHS Markit. Global oil prices have gone into meltdown as the novel coronavirus hits the global economy, slashing demand even as producers boost their output after the talks collapsed . (more...)
French police perform ID checks as France enters lockdown
- March 18, 2020
EU leaders are holding a video-summit on Tuesday to formally agree the anti-coronavirus measure, proposed by the European Commission. Nationwide restrictions are being enforced on how far people can go from their homes, and for what goal, with transport "heavily reduced" from lunchtime on Tuesday for at least two weeks, Mr Macron said . (more...)
- March 18, 2020
EU leaders are holding a video-summit on Tuesday to formally agree the anti-coronavirus measure, proposed by the European Commission. Nationwide restrictions are being enforced on how far people can go from their homes, and for what goal, with transport "heavily reduced" from lunchtime on Tuesday for at least two weeks, Mr Macron said . (more...)
Latest news
Suspect, two others die in Wisconsin casino shooting