Economy

Starbucks temporarily closing most locations in Canada due to coronavirus

Starbucks temporarily closing most locations in Canada due to coronavirus

The company said it is keeping select locations in and around hospitals and health care facilities, as well as licensed stores (the ones inside grocery stores like Target or Safeway) open. In the U.S....

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Why US Better Stay Away From Russia-Saudi Oil Price War

Why US Better Stay Away From Russia-Saudi Oil Price War

Gas prices are also being affected by a decline in demand . Instead, Trump should facilitate a dialogue between the key contributors to the excessive supply of crude that is pushing the prices down...

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Dow plunges, ending worst week since 2008

Dow plunges, ending worst week since 2008

Investors have been weighing the likelihood that the global economy is entering a recession because of the massive shutdowns and layoffs caused by the outbreak against steps by central banks and gover...

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Coronavirus: Jet 2 suspends all flights to Spain

Coronavirus: Jet 2 suspends all flights to Spain

Nevertheless a spokesman mentioned flights could be persevering with as regular from these areas, and the journey recommendation had been up to date as a result of they'd been designated by the Spanis...

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Wall Street ends higher to stem coronavirus sell-off

While the S&P 500 added $94 billion in market capitalization on Thursday, it is down $8.09 trillion since its February 19 record close, according to S&P Dow Jones Indices' analyst Howard Silverblatt...

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Drastic measures to fight COVID-19 continue as case count approaches 1000

Drastic measures to fight COVID-19 continue as case count approaches 1000

The Bank of Canada on Friday said it would take additional measures to help ensure financial markets continue operating smoothly "given the rapidly evolving uncertainty". Following the federal gover...

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COVID-19: Air Transat to 'gradually' suspend flights, temporarily lay off staff

COVID-19: Air Transat to 'gradually' suspend flights, temporarily lay off staff

Its domestic network will serve all provinces and territories as the number of airports is reduced to 40 from 62 during April. The disruption comes as Transat and Air Canada await regulatory appro...

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Tesla Bows to Pressure, Shutters California, New York Plants

Tesla Bows to Pressure, Shutters California, New York Plants

Roosevelt made a "call to arm and support" the Allied powers in a December 1940 speech. "Regardless of taking all identified well being precautions, continued operations in sure areas has brought ab...

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Oil Prices Rise But Stay Below $30

Oil Prices Rise But Stay Below $30

USA crude futures for April rose 56 cents, or 2 per centto $25.78 a barrel. The more-active May contract added 8.2% to $28.03 as of 8:26 a.m.in London. "The outsized gains by WTI reflect the hope an...

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Coronavirus: Rishi Sunak announces plans to help pay employees' wages

Coronavirus: Rishi Sunak announces plans to help pay employees' wages

Mr Sunak was locked in meetings with business groups and union leaders yesterday and it is being reported that he is set to announce an employment and wage subsidy package. Sunak called the measures...

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Trump cancels G7 summit in United States over virus outbreak

Trump cancels G7 summit in United States over virus outbreak

Trump noted that because it has been around for a long time, its side effects are well known "so we know that ... if things don't go as planned, it's not going to kill anybody". To be clear, chloroqui...

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Walmart to hire 150,000 workers as demand increases due to coronavirus

Walmart to hire 150,000 workers as demand increases due to coronavirus

The world's largest retailer also said it plans to pay a special cash bonus of US$300 to full-time hourly workers and US$150 to part-time associates. It contacted "industry groups representing resta...

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Trump says states can cancel this year's school testing

Trump says states can cancel this year's school testing

In another sign of upheaval in the nation's education system, the organization that oversees the Advanced Placement program announced Friday that regular AP testing will be canceled because of the co...

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Anzac Day services at Gallipoli to be canceled due to COVID-19

Anzac Day services at Gallipoli to be canceled due to COVID-19

Former Australian Army soldier Chris McAleer is going to set up a fire pit at the end of his driveway in Kilsyth as a tribute to Anzac Day. Chester said cancelling the overseas events would protect ...

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European Central Bank to launch 750-bil. euro stimulus program

European Central Bank to launch 750-bil. euro stimulus program

The emergency plan dubbed Pandemic Emergency Purchase Programme (PEPP) will have an overall envelope of €750 billion and will allow the European Central Bank to buy government and corporate bonds. "...

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Marriott to Furlough Tens of Thousands of Staff, Stock Price Sinks 10%

Marriott to Furlough Tens of Thousands of Staff, Stock Price Sinks 10%

Through a Marriott spokeswoman, the Journal reported the jobs are from hotel managers down to housekeeping. According to Marriott, the Bethesda-based company employs 130,000 people nationwide. Accor...

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Amazon confirms the first known COVID-19 case in a U.S. warehouse

Amazon confirms the first known COVID-19 case in a U.S. warehouse

An Amazon worker at a shipping facility in Queens, New York, tested positive for coronavirus (COVID-19), the company's first known case in the US for a warehouse employee. As of Thursday morning, ther...

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RBA cuts, launches QE into carnage

RBA cuts, launches QE into carnage

The RBA, which has been pumping money into the system throughout the week to ensure business and households have access to credit, cut rates to a record low of 0.25%. The aim is to encourage lending t...

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U.S. Treasury's Mnuchin: airline, corporate aid could include equity stakes

U.S. Treasury's Mnuchin: airline, corporate aid could include equity stakes

Trump dismissed a suggestion from his own treasury secretary, Steven Mnuchin , that the nation could face 20% unemployment at least in the short term. "Now the whole world is inflicted with this terr...

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Reserve Bank slashes interest rates

Reserve Bank slashes interest rates

The 200 billion-pound increase, at 9% of British GDP, was even bigger than the ECB's which was equivalent to 6% of the euro zone's economic output, and took the BoE's total asset purchase plan to 645 ...

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Coronavirus crisis: Prime Minister Scott Morrison announces border closure to all non-residents

Coronavirus crisis: Prime Minister Scott Morrison announces border closure to all non-residents

At least 3,500 medical professionals and experts signed an open letter pleading with the Australian government to take a tougher stance against COVID-19 to avoid the "war-like conditions" Italy is now...

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Facebook to give $1,000 bonuses to each employee during COVID-19 fallout

Facebook to give $1,000 bonuses to each employee during COVID-19 fallout

Facebook users in the USA and parts of Europe will begin seeing the Coronavirus (COVID-19) Information Center over the next 24 hours, with other countries coming on line in coming days. Additionally...

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Loans worth £330bn to save economy

Loans worth £330bn to save economy

Outlining what he described as "government interventions in the economy on a scale unimaginable only a few weeks ago", Sunak said that now was a time for "courage" and to "be bold". "Following the c...

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Fed opens liquidity lines with more central banks

Fed opens liquidity lines with more central banks

Earlier Tuesday, the central bank said it would establish a facility to make loans to US corporations in an effort to ease dysfunction in the $1.1 trillion market for short-term corporate IOUs calle...

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Trump In Talks With GM, Ford To Support Production Of Medical Equipment

Trump In Talks With GM, Ford To Support Production Of Medical Equipment

Shutdowns by the likes of Volkswagen AG, Daimler AG and Renault SA span the continent, with several companies choosing to idle production until further notice rather than publicly announce plans for w...

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Detroit 3, UAW agree on measures to keep plants running

Detroit 3, UAW agree on measures to keep plants running

Galhotra said the company will work with union leaders on plant restart plans and explore protocols and procedures for helping prevent the spread of the virus. "We're going to defeat the invisible ene...

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Elon Musk keeps Tesla open in shutdown zone

Elon Musk keeps Tesla open in shutdown zone

Visit Business Insider's homepage for more stories . Tesla CEO Elon Musk sent an email out to the team at Tesla that attempted to balance the urgency to accomplish Tesla's mission amid the launch...

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Oil near $30 as recession fears, pump war weigh — International Business

Oil near $30 as recession fears, pump war weigh — International Business

The abrupt downturn has roiled OPEC , which until last week had periodically renewed agreements with Russian Federation to cut production to help shore-up sagging oil prices . In the physical market...

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Stock markets halted for unprecedented third time due to coronavirus scare

Stock markets halted for unprecedented third time due to coronavirus scare

Trading also halts on both the Dow and the Nasdaq when a circuit-breaker is triggered on the S&P 500. You cannot blame Trump for the coronavirus unless you believe in conspiracy theories, but you ca...

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S&P lowers India''s growth forecast to 5.2% in 2020 amid coronavirus fears

S&P lowers India''s growth forecast to 5.2% in 2020 amid coronavirus fears

There will be pent-up demand but the longer the crisis drags on, the weaker it will be. Roache said China was gradually recovering from an enormous economic blow early in 2020. He said the global po...

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Last of Dow's gains during Trump presidency disappear

Contracts initially opened in Asia with muted moves after stocks rebounded from the worst day on Wall Street since 1987. "It's, it's a very tough situation", Trump said at a news conference, during ...

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TSX falls at the open, loonie dives below 70 cents

TSX falls at the open, loonie dives below 70 cents

However, March futures built up 2.5% early Tuesday. Data on Tuesday showing a fifth consecutive monthly decline in Canadian manufacturing sales in January supported the case for further easing. We w...

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New York Stock Exchange to close trading floor Monday until further notice

New York Stock Exchange to close trading floor Monday until further notice

As The Post reported last week, NYSE has made it clear that it aims to keep the trading room open during the pandemic with certain precautions, such as the deep physical cleanup it carried out on Frid...

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Tough new restrictions on indoor gatherings

Tough new restrictions on indoor gatherings

As of Wednesday, there have been 375 confirmed cases of COVID-19 in Australia and five deaths across all states and territories except Northern Territory. Labor also urged people to continue donatin...

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United Bracing For Zero Demand For Flights

United Bracing For Zero Demand For Flights

Now, airlines are actually contemplating the idea of canceling all US flights. Delta , the second-largest USA carrier, will be flying five flights per day to Europe starting this week, in contrast ...

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