Markets
Coronavius pandemic | RBI cuts repo rate by 75 basis points to 4.40%
- March 27, 2020
On October 4, the RBI cut its key lending rate by 25 basis points to 5.15 percent and triggered hopes for cheaper loans during the festival season. The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability". (more...)
- March 27, 2020
On October 4, the RBI cut its key lending rate by 25 basis points to 5.15 percent and triggered hopes for cheaper loans during the festival season. The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability". (more...)
3.3 million Americans file for jobless benefits as coronavirus causes economic shutdown
- March 27, 2020
Nationwide, 2.9 million Americans filed unemployment claims. You can read the full report from the Department of Labor here. "We all know we're not at the peak of this yet". The spike in Washington's claims mirrors similar increases across the United States, which saw total claims jump to 2,898,450 from 119,238 a week earlier, according to labor department figures . (more...)
- March 27, 2020
Nationwide, 2.9 million Americans filed unemployment claims. You can read the full report from the Department of Labor here. "We all know we're not at the peak of this yet". The spike in Washington's claims mirrors similar increases across the United States, which saw total claims jump to 2,898,450 from 119,238 a week earlier, according to labor department figures . (more...)
Trump backs Olympics delay, will attend Games in 2021
- March 27, 2020
When asked for comment from Bach, the IOC's press office did not respond to specific questions and directed Reuters to a transcript of a recent conference call in which he said that the decision to postpone the Games was based on "the developments with the dynamic spreading of the coronavirus ". (more...)
- March 27, 2020
When asked for comment from Bach, the IOC's press office did not respond to specific questions and directed Reuters to a transcript of a recent conference call in which he said that the decision to postpone the Games was based on "the developments with the dynamic spreading of the coronavirus ". (more...)
Elon Musk Says Tesla’s New York Gigafactory Will Reopen to Produce Ventilators
- March 27, 2020
Estee Lauder has donated 10,000 bottles of hand sanitizer and vows to keep giving 10,000 a week to help alleviate the supply shortage in hospitals . Medtronic Chief Executive Officer Omar Ishrak told CNBC earlier in the day that the medical device maker has started working with Tesla, which is fast on track to start production of ventilators at Fremont . (more...)
- March 27, 2020
Estee Lauder has donated 10,000 bottles of hand sanitizer and vows to keep giving 10,000 a week to help alleviate the supply shortage in hospitals . Medtronic Chief Executive Officer Omar Ishrak told CNBC earlier in the day that the medical device maker has started working with Tesla, which is fast on track to start production of ventilators at Fremont . (more...)
Oil Prices Down Over 2% As Virus Worries Mount
- March 27, 2020
Analysts at Goldman say Brent crude, the worldwide benchmark, will remain around $20 in the second quarter - down from $29 a barrel now - but the price of the US benchmark should drop "well below $20 a barrel". Efforts by the United States to persuade Saudi Arabia to limit supplies as its shale oil industry struggles with the price collapse were unlikely have much effect on, Dutch bank ING said. (more...)
- March 27, 2020
Analysts at Goldman say Brent crude, the worldwide benchmark, will remain around $20 in the second quarter - down from $29 a barrel now - but the price of the US benchmark should drop "well below $20 a barrel". Efforts by the United States to persuade Saudi Arabia to limit supplies as its shale oil industry struggles with the price collapse were unlikely have much effect on, Dutch bank ING said. (more...)
Walmart to hire 150,000 more amid Covid-19
- March 27, 2020
Another unprecedented step by the retailer is the expedition of the hiring process. PepsiCo Inc. ( NASDAQ: PEP ) said it is planning to hire 6,000 full-time employees across the U.S. "New hires are important both for their customers, and to supplement the work and give relief to their existing, longtime employees", he said. These roles will be temporary at first, but many will convert to permanent roles over time. (more...)
- March 27, 2020
Another unprecedented step by the retailer is the expedition of the hiring process. PepsiCo Inc. ( NASDAQ: PEP ) said it is planning to hire 6,000 full-time employees across the U.S. "New hires are important both for their customers, and to supplement the work and give relief to their existing, longtime employees", he said. These roles will be temporary at first, but many will convert to permanent roles over time. (more...)
Who qualifies for a relief check in the $2 trillion stimulus package?
- March 27, 2020
The last time we all got checks like this from the government, for example, was in 2008 to help get us through the Great Recession. The baseline check will be $1,200 per taxpayer, and adjusted from there based on your income, and another $500 for each dependent child. (more...)
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- March 27, 2020
The last time we all got checks like this from the government, for example, was in 2008 to help get us through the Great Recession. The baseline check will be $1,200 per taxpayer, and adjusted from there based on your income, and another $500 for each dependent child. (more...)
Almost 16,000 Nebraskans file unemployment claims due to COVID-19
- March 26, 2020
There were 795 claims filed the week prior - a difference of 14,873 claims in one week. A record-high number of people applied for unemployment benefits last week as layoffs engulfed the United States in the face of a near-total economic shutdown caused by the coronavirus . (more...)
- March 26, 2020
There were 795 claims filed the week prior - a difference of 14,873 claims in one week. A record-high number of people applied for unemployment benefits last week as layoffs engulfed the United States in the face of a near-total economic shutdown caused by the coronavirus . (more...)
Gold prices today fall for first time after rising for five days
- March 26, 2020
On the Comex market in NY, gold for delivery in April , the most active contract, rocketed by as much as $131 an ounce or 8.4% compared to Monday's close, to trade at $1,698 an ounce by midday before paring some of those gains in early afternoon trade. (more...)
- March 26, 2020
On the Comex market in NY, gold for delivery in April , the most active contract, rocketed by as much as $131 an ounce or 8.4% compared to Monday's close, to trade at $1,698 an ounce by midday before paring some of those gains in early afternoon trade. (more...)
Ontario to spend $2.1 B to bolster health system COVID-19 response
- March 26, 2020
Seniors will see a six-month doubling of the guaranteed annual income system. Simcoe Muskoka District Health Unit (SMDHU) announced yesterday the region now has 21 lab-confirmed COVID-19 cases with 20 in Simcoe County and one in Muskoka. An increase of $160 million in public health funding to support COVID-19 monitoring, surveillance, and laboratory and home testing, while also investing in virtual care and Telehealth Ontario. (more...)
- March 26, 2020
Seniors will see a six-month doubling of the guaranteed annual income system. Simcoe Muskoka District Health Unit (SMDHU) announced yesterday the region now has 21 lab-confirmed COVID-19 cases with 20 in Simcoe County and one in Muskoka. An increase of $160 million in public health funding to support COVID-19 monitoring, surveillance, and laboratory and home testing, while also investing in virtual care and Telehealth Ontario. (more...)
New Coronavirus Stimulus Bill In Congress Creates US Digital Dollar
- March 26, 2020
An early version of the 'Take Responsibility for Workers and Families Act,' introduced by House Speaker Nancy Pelosi also included a digital currency distribution mechanism, but it was removed in the final version, Forbes reports. Member banks include those banks that are members of the Federal Reserve and regulated by the Fed. Libra was, to many lawmakers, a threat to the USA dollar and sovereign currencies globally; it also gave China the impetus to create and deploy its digital yuan, ... (more...)
- March 26, 2020
An early version of the 'Take Responsibility for Workers and Families Act,' introduced by House Speaker Nancy Pelosi also included a digital currency distribution mechanism, but it was removed in the final version, Forbes reports. Member banks include those banks that are members of the Federal Reserve and regulated by the Fed. Libra was, to many lawmakers, a threat to the USA dollar and sovereign currencies globally; it also gave China the impetus to create and deploy its digital yuan, ... (more...)
US Senate passes $2 trillion COVID-19 aid package
- March 26, 2020
ET and ABC News Live at 4 p.m. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. It took until Wednesday to clear the impasse. Senators were negotiating the final sticking points in the stimulus bill to help the USA economy get through the coronavirus pandemic . (more...)
- March 26, 2020
ET and ABC News Live at 4 p.m. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. It took until Wednesday to clear the impasse. Senators were negotiating the final sticking points in the stimulus bill to help the USA economy get through the coronavirus pandemic . (more...)
Coronavirus: Doctors, paramedics in India get 50 lakh insurance cover
- March 26, 2020
She said, "The government has been working so that does affected directly, particularly the poor and the disadvantaged be reached out to". All government health centres, wellness centres and hospitals of Centre as well as States would be covered under this scheme and approximately 22 lakh health workers would be provided insurance cover to fight this pandemic . (more...)
- March 26, 2020
She said, "The government has been working so that does affected directly, particularly the poor and the disadvantaged be reached out to". All government health centres, wellness centres and hospitals of Centre as well as States would be covered under this scheme and approximately 22 lakh health workers would be provided insurance cover to fight this pandemic . (more...)
U.S. agrees on $2 trillion relief package to counter coronavirus effects
- March 26, 2020
But he told Cooper that if the four Republican senators dropped their complaints, "I am certainly not going to persist in what I want" on the bill. Senate Democratic leader Chuck Schumer called it an "outstanding agreement". Details of the $2 trillion stimulus bill were still being worked out in the Senate on Wednesday evening, but the legislation is expected to offer a wide range of aid for individuals and companies dealing with the fiscal impact of the COVID-19 coronavirus pandemic. (more...)
- March 26, 2020
But he told Cooper that if the four Republican senators dropped their complaints, "I am certainly not going to persist in what I want" on the bill. Senate Democratic leader Chuck Schumer called it an "outstanding agreement". Details of the $2 trillion stimulus bill were still being worked out in the Senate on Wednesday evening, but the legislation is expected to offer a wide range of aid for individuals and companies dealing with the fiscal impact of the COVID-19 coronavirus pandemic. (more...)
Stocks drift up and down in tentative trading on Wall Street
- March 26, 2020
Congress and the White House did announce an agreement early Wednesday, with the Senate possibly voting on it in the afternoon. The Federal Reserve and central banks are also offering tremendous aid by cutting interest rates and supporting lending markets, but investors say they need to see the number of new infections peak before they can feel comfortable knowing how deep the looming economic downturn will be. (more...)
- March 26, 2020
Congress and the White House did announce an agreement early Wednesday, with the Senate possibly voting on it in the afternoon. The Federal Reserve and central banks are also offering tremendous aid by cutting interest rates and supporting lending markets, but investors say they need to see the number of new infections peak before they can feel comfortable knowing how deep the looming economic downturn will be. (more...)
Senate Leaders Reach Deal on $2 Trillion Coronavirus Bill
- March 25, 2020
Senator Warner said along with providing aid to workers, the bill aims to majorly help small businesses . The Senate is likely to pass the measure Wednesday afternoon. The legislation includes a payment of $1,200 to most Americans, expanded unemployment benefits , business tax relief and loans. As part of the compromise, Democrats also pushed into the bill a vast unemployment insurance benefit, which would cover furloughed employees as well as contract and freelance workers, adding as ... (more...)
- March 25, 2020
Senator Warner said along with providing aid to workers, the bill aims to majorly help small businesses . The Senate is likely to pass the measure Wednesday afternoon. The legislation includes a payment of $1,200 to most Americans, expanded unemployment benefits , business tax relief and loans. As part of the compromise, Democrats also pushed into the bill a vast unemployment insurance benefit, which would cover furloughed employees as well as contract and freelance workers, adding as ... (more...)
Oil prices fall as demand woes eclipse USA stimulus
- March 25, 2020
Overall fuel demand fell by almost 2.1 million bpd. Global benchmark Brent crude was up 2.9 per cent to trade at almost Dollars 28 per barrel, while U.S. Although oil futures received a "sentiment-led boost this morning, the challenge for the physical oil market is a looming and growing oversupply which will cause a "nowhere to hide" situation very soon", said Bjornar Tonhaugen, head of oil markets at Rystad Energy. (more...)
- March 25, 2020
Overall fuel demand fell by almost 2.1 million bpd. Global benchmark Brent crude was up 2.9 per cent to trade at almost Dollars 28 per barrel, while U.S. Although oil futures received a "sentiment-led boost this morning, the challenge for the physical oil market is a looming and growing oversupply which will cause a "nowhere to hide" situation very soon", said Bjornar Tonhaugen, head of oil markets at Rystad Energy. (more...)
Amazon Fulfillment Center test positive for COVID-19
- March 25, 2020
The corporate didn't deal with why the power remained open - or element any further cleansing procedures - however, stated it had suggested any staff who had been in shut contact with the worker to remain dwelling and self-quarantine for 14 days. (more...)
- March 25, 2020
The corporate didn't deal with why the power remained open - or element any further cleansing procedures - however, stated it had suggested any staff who had been in shut contact with the worker to remain dwelling and self-quarantine for 14 days. (more...)
Coronavirus: Federal Reserve unveils ‘bazooka’ programs to backstop USA economy
- March 25, 2020
The most surprising of the Fed's announcements is its determination to buy as many debt bonds as necessary to calm the market, including high-risk investment bonds. The move comes as plans for a government bailout have stalled in Washington . The logjam combined with the stimulus splash from the Fed to take a little of the shine off the USA dollar, though it remains in demand as a global store of liquidity. (more...)
- March 25, 2020
The most surprising of the Fed's announcements is its determination to buy as many debt bonds as necessary to calm the market, including high-risk investment bonds. The move comes as plans for a government bailout have stalled in Washington . The logjam combined with the stimulus splash from the Fed to take a little of the shine off the USA dollar, though it remains in demand as a global store of liquidity. (more...)
Dow sees biggest 1-day gain since 1933
- March 25, 2020
The price action suggests investors are still paying close attention to the headlines about US lawmakers closing in on a massive fiscal stimulus bill work $2 trillion to combat the economic damage from the pandemic. House Speaker Nancy Pelosi told CNBC's Jim Cramer , "I think there is real optimism that we could get something done in the next few hours", during an interview on Squawk on the Street on Tuesday. (more...)
- March 25, 2020
The price action suggests investors are still paying close attention to the headlines about US lawmakers closing in on a massive fiscal stimulus bill work $2 trillion to combat the economic damage from the pandemic. House Speaker Nancy Pelosi told CNBC's Jim Cramer , "I think there is real optimism that we could get something done in the next few hours", during an interview on Squawk on the Street on Tuesday. (more...)
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