Economy

Detroit automakers to temporarily shut down North American plants

Detroit automakers to temporarily shut down North American plants

However, in Delta Township, operations will continue until the last auto being built leaves the plant. The plant will idle production through March 30. In an email to employees, Tesla Human Resour...

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Stocks nosedive on Wall Street

Stocks nosedive on Wall Street

USA stocks furthered their decline after trading resumed. These losses also came despite central bank action, with the Bank of Japan on Monday doubling its purchasing targets for exchange-traded f...

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Coronavirus: Wall Street stocks stage a rebound, closing sharply higher

The Dow was briefly down more than 3,000 points during the final minutes of trading. The broad-based S&P 500 sank 10.6 per cent to 2,422.69, while the tech-rich Nasdaq Composite Index dove 10.5 perc...

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Demand collapse pins oil below $30 amid deepening global rout

Demand collapse pins oil below $30 amid deepening global rout

The dispute pushed the price of Brent Crude to below 30 U.S. dollars a barrel on Monday - the lowest in four years. "A deeply imbalanced supply and demand outlook has not changed as Saudi and Russia...

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Air NZ cuts flights, in trading halt

Air NZ cuts flights, in trading halt

Air New Zealand had already scrapped its full-year earnings guidance because of the virus' impact and its woes deepened over the weekend when the New Zealand government ordered all worldwide arrivals...

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Qantas to slash 90% of worldwide capacity as new travel restrictions bite

Qantas to slash 90% of worldwide capacity as new travel restrictions bite

The capacity cuts also include the grounding of around 150 aircraft, which includes nearly all of the Group's wide-body fleet. The national carrier's total global capacity will now be cut by 90 per ...

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US Fed revives commercial paper facility to boost lending

US Fed revives commercial paper facility to boost lending

Bank of America is warning the commercial paper market is "frozen". The commercial paper funding facility will establish a special objective vehicle (SPV) that will purchase unsecured and asset-back...

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United States stocks dive more than 10% in early trading on recession worries

United States stocks dive more than 10% in early trading on recession worries

Rate-sensitive financial stocks tumbled more than 11%, leading declines among the major S&P sectors. Monday's market plunge occurred after oil prices also sank. The plunge came even though the Fede...

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White House To Push $850 Billion Stimulus Package

White House To Push $850 Billion Stimulus Package

An alternative proposal by Mitt Romney to send checks of $1,000 or more to every American adult has some bipartisan support . The Treasury secretary said President Donald Trump had approved the...

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Oil prices extend losses on price war, virus fallout

Oil prices extend losses on price war, virus fallout

The spectacular plunge in crude prices hasn't deterred state-run Saudi Aramco from pumping historic levels of oil. Brent's premium to WTI CL-LCO1=R narrowed to lower than $1, near its narrowest sinc...

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Uber, Lyft suspend rideshare services in USA and Canada

Uber, Lyft suspend rideshare services in USA and Canada

This applies in the US and Canada for now, and the company is evaluating enacting similar measures in other countries where pooled rides are an option. On Monday, as The Verge reports , Uber expande...

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JetBlue Passenger Tests Positive for Coronavirus Mid-Air, Banned From Flying

JetBlue Passenger Tests Positive for Coronavirus Mid-Air, Banned From Flying

Visit Business Insider's homepage for more stories . But he failed to inform the authorities about his impending test results, JetBlue stated. "Last night's event put our crew members, our custome...

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Coronavirus: Government announces further measures to support theatres following closures

Coronavirus: Government announces further measures to support theatres following closures

Mortgage lenders have agreed they will support customers that are experiencing issues with their finances as a result of Covid-19, including through payment holidays of up to 3 months. The chancellor ...

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Trump, asked about coronavirus response, gives himself a 10 out of 10

Trump, asked about coronavirus response, gives himself a 10 out of 10

The guidelines do not amount to a national quarantine or lockdown, Trump noted. Amid increased uncertainty in the public - leading to panic-buying in some areas - the government has insisted that gr...

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Federal Reserve Cuts Rates to 0% as Bitcoin Follows Stocks

Federal Reserve Cuts Rates to 0% as Bitcoin Follows Stocks

Finally, the Fed announced a series of measures to "support the flow of credit to households and businesses", including: lowering its discount window rate; reducing reserve requirements for banks to...

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NZ central bank slashes rates by 75 bps over coronavirus fears

NZ central bank slashes rates by 75 bps over coronavirus fears

This leaves the Official Cash Rate ( OCR ) at 0.25%, leaving a country that once boasted the highest interest rates in the developed world on par with the likes of the Bank of England , thereby closi...

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Amazon says ‘household staples’ are out of stock, deliveries delayed amid coronavirus

Amazon says ‘household staples’ are out of stock, deliveries delayed amid coronavirus

Officials with the online retailer said they will also temporarily raise pay by $2 an hour through the end of April for hourly employees, who work at warehouses, delivery centers, and Whole Foods gr...

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The Fed slashes rates to near zero to combat coronavirus

The Fed slashes rates to near zero to combat coronavirus

Collectively, its actions are meant to keep markets functioning and lending flowing to businesses and consumers. "If its actions work, it will prevent thousands of businesses, large and small, from fa...

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China's to Take More Proactive Fiscal Policy to Offset Coronavirus Impact

China's to Take More Proactive Fiscal Policy to Offset Coronavirus Impact

The figure, well below analysts' forecasts, who predicted about a 1.5 per cent growth, is the worst for industrial production since January 1990's 21.20 per cent drop, when the statistics were first g...

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Airlines Will Soon Go Bankrupt Over Coronavirus: CAPA

Airlines Will Soon Go Bankrupt Over Coronavirus: CAPA

Some European airlines have already issued urgent appeals for help. The Centre for Aviation ( Capa ) has called for co-ordinated government and industry action immediately "if catastrophe is to be...

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Dow Plunges 2200 Points, Trading Halted After Fed Slashes Rates

Dow Plunges 2200 Points, Trading Halted After Fed Slashes Rates

The Fed also said it would revive the crisis-era program of bond purchases known as "quantitative easing", in which the central bank buys hundreds of billions of dollars in bonds to further push down ...

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Delta Cuts Capacity By 40-Percent

Delta Cuts Capacity By 40-Percent

Ted Cruz, the Texas Republican who chairs the Senate Commerce Committee's aviation panel, is working with airlines, Trump administration officials and other lawmakers on economic relief measures, acco...

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Yes Bank posts ₹18,564 cr. Q3 loss

Yes Bank posts ₹18,564 cr. Q3 loss

As per YES Bank's financial results, YES Bank's gross NPAs have pole-vaulted to 18.87 per cent - the highest in the private banking space. Net NPA rose to Rs 11,114 crore from Rs 9,757.20 crore in...

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Occidental Deploys Poison Pill Amid Icahn Push to Oust Board

Occidental Deploys Poison Pill Amid Icahn Push to Oust Board

But if they vote in favor of it, it will extend for one year. Icahn, who held a roughly 2.5% stake in Occidental as of end-2019, has previously criticized its $38 billion deal for rival Anadarko Pet...

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Trump says hopes US Fed will 'finally get on board'

Trump says hopes US Fed will 'finally get on board'

The global financial rout showed no signs of slowing last week. In a statement today, the central bank said it was cutting rates by to a target range of 0 per cent to 0.25 per cent. "Other things ar...

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Bill Gates steps down from Microsoft board

Bill Gates steps down from Microsoft board

In one written declaration Posted on Facebook's website on Friday, Chenault said that serving on the Berkshire Hathaway board of directors and working closely with his friend, Berkshire CEO W...

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Google Building Self-Check Website for Coronavirus

Vice President Mike Pence, asked about the clashing statements during a press conference Saturday, said that " Google issued a statement that they are planning to launch a website ". Google a...

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Government Shuts Down Cruise Industry for 30 Days

Government Shuts Down Cruise Industry for 30 Days

We've reached out to each company for clarification. The measure affects all sailings until 30 April. "During this time, we will continue to work with the CDC and others to prepare for resumption of...

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Brazilian Official Photographed With Trump and Pence Tests Positive for the Coronavirus

Brazilian Official Photographed With Trump and Pence Tests Positive for the Coronavirus

Trump appeared to be unaware that Fábio Wajngarten, the Brazilian official, had been diagnosed with the virus, telling reporters that tests were still outstanding. military's Southern Command in Do...

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Nike To Close All U.S Stores Amid Coronavirus Outbreak

Nike To Close All U.S Stores Amid Coronavirus Outbreak

Workers will still be paid in full during this time off, CNBC reported. OR shoe giant Nike announced Sunday that it would close retail locations in several countries - including in the United St...

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Starbucks Is Testing a Greener Coffee Cup With Biodegradable Liner

Starbucks Is Testing a Greener Coffee Cup With Biodegradable Liner

Starbucks ( SBUX ) will be introducing recyclable and compostable coffee cups to the United Kingdom this week, fulfilling a promise made a year ago. A few years ago, Starbucks doubled down on its...

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UK Budget: Industry 'disappointed' by absence of solar, storage measures

UK Budget: Industry 'disappointed' by absence of solar, storage measures

In a statement, it said: "FICCI perceives the budget as a balanced and pragmatic one against the backdrop of the global outbreak of Covid-19". Other interesting announcements covered future consulta...

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Bank of Canada lowers interest rate: Read the official statement

Bank of Canada lowers interest rate: Read the official statement

World stocks and the price of oil, one of Canada's major exports, bounced off their lows as central banks stepped in to ease a liquidity squeeze and U.S. "As the situation evolves, Governing Council s...

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Wall Street jumps after worst day since 1987

Wall Street jumps after worst day since 1987

Friday's rally was broad, with technology stocks accounting for a big slice of the gains. Norwegian Cruise Line and Royal Caribbean Cruises both lost roughly a third of their value. The sell-of came d...

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Australian tax authority issuing audit warnings to local crypto traders

Australian tax authority issuing audit warnings to local crypto traders

For this objective, the ATO is set to send warnings to hundreds of thousands of Australian cryptocurrency traders, reminding them of their tax obligations . Under this program we obtain cryptocurrenc...

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