Economy

US Stocks Struggle Early after Tuesday's Overcooked Rally

US Stocks Struggle Early after Tuesday's Overcooked Rally

Boeing surged 24%, bringing its gain over the past three sessions to nearly 70%, as investors bet on government support for the aerospace industry as well as airlines. "The stimulus measures will cont...

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Ontario will spend additional $17 billion to fight the coronavirus

Ontario will spend additional $17 billion to fight the coronavirus

The announcement also includes new money for testing but again, we must make sure this is rapidly deployed to have a real outcome. "COVID-19 is our moment". Measures also include a one-time payment fo...

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Asia markets rise after United States stimulus package agreed

Asia markets rise after United States stimulus package agreed

Asian shares likewise obtained in Wednesday trading, with Japan's standard Nikkei 225 index up 7.9% complying with the information. The Canadian dollar traded for 69.16 cents USA compared with an a...

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Amazon warehouses affected by coronavirus cases

Amazon warehouses affected by coronavirus cases

In response, Amazon temporarily closed down facilities in some cases in order for the centers to be sanitized. The online retailer said Tuesday the Shepherdsville warehouse was undergoing "addit...

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Coronavirus: Tokyo Olympics could be held before summer of 2021

Coronavirus: Tokyo Olympics could be held before summer of 2021

Next year's games "will testify to the defeat of the virus", said Prime Minister Abe. Four-time Olympic gold medalist in women's ice hockey, Hayley Wickenheiser, who had called on the IOC to postpon...

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Stocks drift up and down in tentative trading on Wall Street

Stocks drift up and down in tentative trading on Wall Street

The Dow rose 2,112.98 points, its biggest point gain in history, to 20,704.91. Both Democrats and Republicans said Tuesday they were close to agreeing on a massive economic rescue package, which w...

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Stimulus deal bars Trump's businesses from Treasury Department loans

Stimulus deal bars Trump's businesses from Treasury Department loans

Schumer said that the bill is "far from ideal, but we believe the legislation has been improved significantly to warrant its quick consideration and passage". The U.S. economy has nosedived as the...

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Announced US stimulus plan helps a slight recovery of oil prices

Announced US stimulus plan helps a slight recovery of oil prices

International Brent Oil Futures rose 3.46% to $28.09 by 10:12 PM ET (02:12 AM GMT) and U.S. Crude Oil WTI Futures jumped 3.92% to $24.95. Late Tuesday, the API reported that crude inventories fell...

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France extends and toughens Covid-19 lockdown measures as death toll rises

France extends and toughens Covid-19 lockdown measures as death toll rises

Several are already in place, including in the Riviera town of Nice and hard-hit eastern city of Mulhouse. "We don't need to put a nationwide curfew in place". He also said the chloroquine malaria...

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Gold Prices Fall as Investors Stockpile Cash Amid National Coronavirus Lockdowns

Gold Prices Fall as Investors Stockpile Cash Amid National Coronavirus Lockdowns

Mirroring losses in equities, the Indian rupee slipped to a new all-time low of 76.14 against the dollar, surpassing the 76-mark for the first time ever. Many central banks have announced various meas...

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No instruction manual for Amazon in COVID-19 times: Bezos

No instruction manual for Amazon in COVID-19 times: Bezos

Some workers realized they weren't being given paid time off, despite it being outlined in Amazon's employee handbook. United States senators are demanding to know what measures Amazon are taking to...

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Minister Makes A Statement About The Long Centrelink Queues Around Australia

Minister Makes A Statement About The Long Centrelink Queues Around Australia

The leader of the opposition party, Anthony Albanese, called it an "incompetence attack", according to The Guardian , and Shadow Services minister Bill Shorten took to Twitter to accuse Roberts of ly...

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Fed unveils aggressive measures to shore up economy

Fed unveils aggressive measures to shore up economy

The bank also said it would soon roll out a "Main Street business lending program" to support lending to eligible small and midsize businesses. "The Fed's measures are unprecedented and they have ...

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Covid-19 causes record slump in United Kingdom business activity

Covid-19 causes record slump in United Kingdom business activity

Businesses in the eurozone suffered "an unprecedented collapse" in March because of the novel coronavirus pandemic, according to a closely watched indicator released Tuesday by IHS Markit , AFP r...

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No draconian lockdown yet, but PM bans travel and increases social distancing

They recommended that Australia "without delay implements national stronger social distancing measures, more extensive banning of mass gatherings, school closure or class dismissal". From March 23 a...

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Wall Street surges on hopes of $2 trillion rescue package

Wall Street surges on hopes of $2 trillion rescue package

At 13:11 p.m. ET the Dow Jones Industrial Average .DJI was up 1,491.90 points, or 8.02%, at 20,083.83, the S&P 500 .SPX was up 153.38 points, or 6.86%, at 2,390.78 and the Nasdaq Composite .IXIC was u...

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NBA’s 76ers, NHL’s Devils rescind employee salary cuts

NBA’s 76ers, NHL’s Devils rescind employee salary cuts

After listening to our staff and players, it's clear that was the wrong decision. "As we navigate this evolving COVID-19 environment, we are mindful of the long-term impact the suspension of live ev...

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Fed opens unlimited 'quantitative easing' to stabilize US economy

Fed opens unlimited 'quantitative easing' to stabilize US economy

The U.S. Federal Reserve said Monday it will expand its purchases of government-backed and other bonds to an unlimited amount as part of its latest batch of measures to support the world's largest...

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With Finance Bill passed, govt can increase petrol, diesel prices

With Finance Bill passed, govt can increase petrol, diesel prices

Crude Oil prices are at an all-time low in the global markets. The authorities had earlier introduced a hike of Rs three per liter in excise obligation on each fuels on 14 March. In the Union Budget...

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OPEC supply curbs, United States measures could support oil prices near term: Goldman

OPEC supply curbs, United States measures could support oil prices near term: Goldman

USA gasoline futures fell more than 20 per cent to $0.4789 a gallon, the lowest on record. Saudi Arabia's Crown Prince Mohammad bin SalmanThe United States believes Saudi Arabia's flooding of oil ma...

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Gas prices fall below $2 a gallon in 12 states

Gas prices fall below $2 a gallon in 12 states

DeHaan expects prices to drop between 35 and 75 cents a gallon per gallon at most stations in the weeks ahead. The national average is down 38.5 cents per gallon from a month ago and stands 54.7 cents...

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Boeing halts Puget Sound area production over virus

Boeing halts Puget Sound area production over virus

Any Boeing employees who are able to work from home will continue to do so, and those who can't will receive paid leave for the 10 working days in the two-week suspension. READ: Airbus test aircraft o...

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Fed vows unlimited bond buying to soothe market

Fed vows unlimited bond buying to soothe market

As part of the effort the central bank will relaunch a massive bond-buying program, the Term Asset-Backed Securities Lending Facility, or Talf, last used in response to the 2008 financial crisis, to s...

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Fed Ramps up Emergency Moves to Keep Dollar’s Value in Check

Fed Ramps up Emergency Moves to Keep Dollar’s Value in Check

It also has standing USA dollar liquidity swap lines with the Bank of Canada , the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank . The BOJ will supply do...

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Trump may intervene in oil price war to stabilize prices

Trump may intervene in oil price war to stabilize prices

On Thursday, April U.S. crude futures jumped so much late in the day that trading had to be automatically halted for two minutes of post-settlement trade due to a built-in circuit breaker created to c...

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Steven Mnuchin: Congress close on coronavirus stimulus deal

Steven Mnuchin: Congress close on coronavirus stimulus deal

The package is expected to inject almost $2 trillion into the USA economy. Mnuchin appeared on Fox Sunday and noted the outbreak is supposed to last for 10 to 12 weeks. "If we do that, we think we c...

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Chancellor announces emergency wage subsidy to try and protect millions of jobs

Chancellor announces emergency wage subsidy to try and protect millions of jobs

Sunak said the government would give grants to cover 80 per cent of a worker's salary if businesses kept them on staff. As part of Sunak's unprecedented measures, for unprecedented times, any empl...

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Emirates to Suspend All Passenger Operations From March 25

Emirates to Suspend All Passenger Operations From March 25

The list includes the UK, Switzerland, Hong Kong, Thailand, South Korea, Malaysia, Philippines, Japan, Singapore, Australia, South Africa, the USA, and Canada. Mr Al Maktoum said the company was doing...

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McDonald's to close all Kent branches

McDonald's to close all Kent branches

We have teams working around the clock to continue to adapt our procedures and protocols to reflect guidance from the respective governments, health authorities as well as feedback from our restaurant...

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Amazon's Bezos tells workers coronavirus will 'get worse'

Amazon's Bezos tells workers coronavirus will 'get worse'

From March 15-May 9, warehouse employees in the USA will receive double the pay for hours worked over 40 per week, an increase from the standard 1.5-times pay. "We've placed purchase orders for milli...

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Gas Price Drops to 99 Cents, Sells out at Kentucky Station

Gas Price Drops to 99 Cents, Sells out at Kentucky Station

During this uncertain time of COVID-19, gas prices are declining despite increasing gasoline demand and decreasing USA stock levels. Mississippi, Oklahoma and Tennessee have at least one gas station...

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Push for total shutdown as second stimulus package revealed

Push for total shutdown as second stimulus package revealed

The latest measures follow A$17.6 billion in support from the government's initial stimulus package, A$90 billion from the Reserve Bank of Australia, and A$15 billion in government business loans. "We...

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USA start-up to soon release home-testing kits for coronavirus

USA start-up to soon release home-testing kits for coronavirus

According to Time , testing kits had previously been limited to those provided by the US Centers for Disease Control but, given the shortage, on 29 February the FDA made it possible for commercial te...

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Carnival offers idled cruise ships as temporary hospitals

Carnival offers idled cruise ships as temporary hospitals

Faced with an explosion of COVID-19 cases and a need to free up hospital beds, the U.S. government moved Wednesday to dispatch the navy's 1,000-room USNS Comfort hospital ship to NY, one of the worst-...

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European Central Bank brings 750 bn euro bazooka to virus fightback

European Central Bank brings 750 bn euro bazooka to virus fightback

It struggled last week to take back comments from ECB chief Christine Lagarde that the bank was not there to lower bond spreads in the euro zone, a remark that pushed Italian yields sharply higher...

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