Economy

Coronavirus scare: Facebook, Amazon, Google ask employees to work from home

Coronavirus scare: Facebook, Amazon, Google ask employees to work from home

In the greater Seattle area, the total number of coronavirus cases climbed to 39 on Wednesday and 10 deaths, up from 27 cases and nine deaths a day earlier, the Washington State Health Department anno...

by · Economy

UK Insurer LV Halts All Travel Insurance Over COVID-19

If you haven't already booked insurance and are travelling soon we urge you to get cover immediately from a reputable insurer. According to GlobalData research, trip cancellation was the second mo...

by · Economy
Govt flags $25K injection for small businesses in coronavirus stimulus pledge

Govt flags $25K injection for small businesses in coronavirus stimulus pledge

Here's what the government will be handing out. The coalition is willing to forgo its much-vaunted budget surplus to pump money into the country. The Australian government has announced a AUD 17...

by · Economy
Bazooka? Fed jacks up repo operations

Bazooka? Fed jacks up repo operations

Guy LeBas, chief fixed income strategist at Janney, said that many large banks are saddled with huge holdings of Treasury securities and likely want to unload them to free up cash for their corporate ...

by · Economy
Fed to flood repo market with $5.5 trillion

Fed to flood repo market with $5.5 trillion

The New York Federal Reserve says the central bank is taking these measures to address " highly unusual disruptions " in Treasury financing markets. The New York Fed will offer $500 billion in three...

by · Economy
Delta slashes flights by 40% as virus cripples global travel

Delta slashes flights by 40% as virus cripples global travel

The company also announced a hiring freeze and is now also offering unpaid voluntary licenses. The news sent airline stocks tumbling. "The situation is fluid and is likely to get worse". Airlines ar...

by · Economy
Broadway to go dark and suspend all performances due to coronavirus

Broadway to go dark and suspend all performances due to coronavirus

With fear of the spread of COVID-19 continuing to mount, New York Gov. Andrew Cuomo announced the state is banning events of 500 people or more and shutting down Broadway . Later Thursday, New ...

by · Economy
Wall Street trading halts as major indexes crash

Wall Street trading halts as major indexes crash

The blue-chip index gained more than 1,100 points Tuesday. A closely watched measure of turbulence in US stocks, the Cboe Volatility Index, was near its highest level in a year. While the EIA still se...

by · Economy
Iran asks International Monetary Fund for 5-bln-USD loan to combat COVID-19

Iran asks International Monetary Fund for 5-bln-USD loan to combat COVID-19

Iranian Foreign Minister Mohammad Javad Zarif called on the Washington-based body to allow the Islamic Republic to access the facility "immediately" and "stand on the right side of history & act res...

by · Economy
Global Stocks to Post Worst Weekly Gains Since 2008 Financial Crisis

Global Stocks to Post Worst Weekly Gains Since 2008 Financial Crisis

But the MSCI world equity index, which tracks shares in 49 countries, hit a three-year low in Asian hours and is down almost 16% this week so far - its worst run since October 2008 when Lehman Brother...

by · Economy
Treasury Wants to Delay April 15 Tax Deadline for Most Filers

Treasury Wants to Delay April 15 Tax Deadline for Most Filers

Reports of a possible tax extension came amid talks between the White House and Congress about a fiscal stimulus plan to sap the economic impact of the coronavirus outbreak, New York Post reported...

by · Economy
Warren Buffett bans shareholders from Berkshire Hathaway’s annual meeting

Warren Buffett bans shareholders from Berkshire Hathaway’s annual meeting

Over his more than five decades running Berkshire, Buffett has amassed a following of shareholders who return often to Omaha for the event he's called a "Woodstock for Capitalists". The weekend has a...

by · Economy
Wall Street bounces after worst day since 1987

Wall Street bounces after worst day since 1987

The suspension of professional sports games , canceled conventions and half-empty restaurants has raised fears - not about whether the longest USA economic expansion on record is ending - but about h...

by · Economy
Why Saudi Arabia launched an oil price war

Why Saudi Arabia launched an oil price war

Has Russia become the bump in the road, as it is not willing to budge? Russian Federation is the world's second-biggest oil exporter after Saudi Arabia. They greeted each other with high fives at ...

by · Economy
IAG's British Airways Axes Italy Flights For Tuesday

IAG's British Airways Axes Italy Flights For Tuesday

From Wednesday, it will cancel all Italian domestic flights and then suspend its worldwide services from Friday until early next month, Ryanair said in a statement . EasyJet cancelled services unti...

by · Economy
Plunge prompts Italy, Spain to ban shorting

Plunge prompts Italy, Spain to ban shorting

Many airlines across the European Union suffered a double-digit fall in share price as a result of the president's statement on Wednesday evening which had not been communicated to European Union gove...

by · Economy
Dow has another record point drop on Thursday as coronavirus cases spread

Dow has another record point drop on Thursday as coronavirus cases spread

Bank of Japan Gov. Haruhiko Kuroda said the central bank "will take appropriate steps as needed". The S&P 500 tanked more than 6 percent at the open and within minutes crossed the 7 percent thresh...

by · Economy
Ontario schools to close for 2 weeks after March Break

Ontario schools to close for 2 weeks after March Break

Complete isolation is easier said than done for most people who share homes with others, acknowledges Vaisman, and becomes especially important if the household includes anyone with compromised immune...

by · Economy
Amazon increases paid sick leave due to coronavirus

Amazon increases paid sick leave due to coronavirus

The corporate knowledgeable employees of the change on Monday. Amazon is one of several major companies that followed recommendations of King County officials last week, directing all employees wh...

by · Economy
European Union leaders denounce Trump's coronavirus travel restrictions

European Union leaders denounce Trump's coronavirus travel restrictions

The disruption to air travel is also certain to ripple through economies, causing widespread damage to hotels, vehicle rental companies, museums and restaurants. "We have a public health crisis in thi...

by · Economy
Google UK and Ireland staff urged to work from home…

Google UK and Ireland staff urged to work from home…

Employees in other regions , including Europe are given similar guidelines a few days back. Google's father or mother corporate Alphabet has requested its North American staff to work from home ...

by · Economy

Presumptive cases of Covid-19 on the rise in Colorado

He arrived at Brampton Civic Hospital later in the weekend, for treatment. The patient had mild symptoms, was not hospitalized and is recovering in isolation. Officials say the patient had been diagno...

by · Economy
Coronavirus: markets plunge after Trump blunder on travel ban

Coronavirus: markets plunge after Trump blunder on travel ban

At its peak on February 19, the S&P 500 was up 58% from when Trump unexpectedly beat Democratic rival Hillary Clinton in November 2016. Worries are rising that the White House and other authorities ar...

by · Economy
Crude oil prices head back to $30

Crude oil prices head back to $30

The International Energy Agency forecasts that demand will fall by 90,000 bpd this year, the first annual decline since 2009, says Andy Critchlow in The Daily Telegraph. US crude was down $1.40, or 4....

by · Economy

Ontario government extends march break due to Coronavirus

It doesn't appear that any of the cases were due to community transmission. March Break is scheduled for March 16 to 20. The Progressive Conservative government is set to table its budget March 25. ...

by · Economy
Bank of England rogers sleeping RBA

Bank of England rogers sleeping RBA

The European Central Bank is expected to join the growing wave of easing this week after President Christine Lagarde warned leaders on Tuesday that the crisis has echoes of 2008. "And although not now...

by · Economy
Dow Set to Drop Sharply on Stimulus Skepticism

Dow Set to Drop Sharply on Stimulus Skepticism

All 11 main sectors of the S&P 500 closed larger, led by tech.SPLRCT and rate-sensitive monetary.SPSY shares. The Nasdaq Composite was down 218.11 points, or 2.61%, at 8,126.15. According to the Wor...

by · Economy
Oil extends gains as United States output cut hopes grow

Oil extends gains as United States output cut hopes grow

Saudi Arabia responded by launching an all-out price war, saying it would ramp up oil sales to over 12 million barrels a day in April from some 9.7 million b/d in March. Crude stocks rose by 7.7 mi...

by · Economy
Dow Jones tumbles 800 pts on lack of stimulus details

Dow Jones tumbles 800 pts on lack of stimulus details

United States stock indexes fell sharply at the open on Wednesday as investors were skeptical about President Donald Trump's stimulus plan to combat the coronavirus epidemic. Government experts we...

by · Economy
Trump says he will make coronavirus statement Wednesday night

Trump says he will make coronavirus statement Wednesday night

California has more than 100 confirmed cases, while on the East Coast, New York state now has 142, Governor Andrew Cuomo said. "It will go away". Just stay calm, it will go away. very good for the c...

by · Economy
Bank of England cuts rates in shock move over virus

Bank of England cuts rates in shock move over virus

It's now up to Chancellor the Exchequer Rishi Sunak to deliver in the budget later today. In a coordinated move, the Bank of England earlier reduced its key rate from 0.75% to 0.25% to "help suppo...

by · Economy

Google Tells All 100,000 North American Employees to Work from Home

Google had asked its 100K employees across North America to work from home as a measure to prevent coronavirus from spreading. All 11 of Google's offices in the United States and Canada are affe...

by · Economy
RBS and Natwest offer coronavirus mortgage holidays

RBS and Natwest offer coronavirus mortgage holidays

The option of applying for an increase in overdraft and credit card limits would also be open, it said, along with increased cash withdrawal limits and the waiving of cash advance fees for customers u...

by · Economy
Saudi Arabia, Russia Raise Stakes in Oil Price War

Saudi Arabia, Russia Raise Stakes in Oil Price War

Saudi Arabia's biggest tanker company booked a batch of ships to transport the kingdom's crude to USA customers in what shipbrokers say is a highly unusual step for the company. "Welcome to the free m...

by · Economy

Model Y Rolls Off Line as Tesla's Millionth EV

As The Verge points out , it took Tesla 17 years to make its one-millionth auto after the company's founding in 2003. The latest milestone is a major one not only for Tesla but also the industry ...

by · Economy