Economy

North American stock markets start trading week by surging higher

North American stock markets start trading week by surging higher

Materials was the weakest performer on a drop in gold prices. That's the highest level in about three weeks. The Dow Jones Industrials gave up gains of as much as 900 points at one time, and lost 26...

by · Economy
Air Canada immediately re-hiring furloughed employees

Air Canada immediately re-hiring furloughed employees

To qualify for the Canada Emergency Wage subsidy when it was first announced, businesses had to show a revenue decline of 30 per cent in March compared to previous year. The group represents many of C...

by · Economy
Jack Dorsey donates $1bn of Square equity towards coronavirus fight

Jack Dorsey donates $1bn of Square equity towards coronavirus fight

He's seeding the fund with $1 billion, roughly 28% of his wealth. Dorsey said he wanted to donate to causes where he could see an impact in his lifetime. UBI is a great idea needing experimenta...

by · Economy
Logan's and Old Chicago parent company fires employees

Logan's and Old Chicago parent company fires employees

The sales tax revenues were reportedly paid to states without the approval of court-appointed overseers, according to Restaurant Business Online. The parent company said it is also temporarily closi...

by · Economy
Wall Street opens higher on coronavirus slowdown hopes

Wall Street opens higher on coronavirus slowdown hopes

The Dow Jones Industrial Average closed up 1,628.15 points, or 7.73 percent, while the S&P 500 fell 6.97 percent and the Nasdaq Composite dropped 7.33 percent as the market reacted to optimism that sp...

by · Economy
Chinese chain Luckin Coffee still can't take a break

Chinese chain Luckin Coffee still can't take a break

A source from a financial regulator said that applying a registration-based system to all applications would obviously not be suitable for China. At least two of the four banks which led Luckin's in...

by · Economy
Japan to declare emergency as Tokyo cases soar

Japan to declare emergency as Tokyo cases soar

Japan's Prime Minister Shinzo Abe will on Tuesday declare a state of emergency in parts of the country, including Tokyo , over a spike in coronavirus infections. The declaration is expected to t...

by · Economy
Google data suggests how well Canadians are staying at home

Google data suggests how well Canadians are staying at home

However, it cautions, "Location accuracy and the understanding of categorized places vary from region to region, so we don't recommend using this data to compare changes between countries, or between ...

by · Economy
Japan to declare coronavirus emergency, launch $990 billion stimulus: PM Abe

Japan to declare coronavirus emergency, launch $990 billion stimulus: PM Abe

The declaration would officially allow prefectural governors to request that facilities where large groups of people gather, such as schools, shopping centers, and movie theaters, close, and also to ...

by · Economy
Tesla shows off its COVID-19 ventilator made from Model 3 parts

Tesla shows off its COVID-19 ventilator made from Model 3 parts

Ford is partnering with GE Healthcare to build ventilators at a MI factory, and is working with 3M to produce respirators using some repurposed vehicle parts, including fans from F-150 seats. The air...

by · Economy
The Canada Emergency Response Benefit has officially launched

The Canada Emergency Response Benefit has officially launched

CERB payments could start appearing in people's bank accounts as early as this week, with those who qualify expected to receive $2,000 per month for the next four months. Any Canadian who has stopped ...

by · Economy
Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift

Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift

OPEC and allies are due to meet on Thursday to discuss a possible new global crude supply cut. Prices may decline more gradually after Saudi Arabia sent a signal that a production cut deal may be a...

by · Economy
Japan's Shinzo Abe Moves to Declare State of Emergency in Tokyo, Osaka

Japan's Shinzo Abe Moves to Declare State of Emergency in Tokyo, Osaka

The majority of confirmed Covid-19 cases over the weekend in Tokyo were of people under the age of 50, a member of Japan's health ministry taskforce for the virus said in the same livecast Sunday ni...

by · Economy
Oil falls after Saudi Arabia, Russia delay meeting

Oil falls after Saudi Arabia, Russia delay meeting

Global crude prices have fallen to levels not seen since 2002 against the backdrop of the coronavirus-induced pause to national economies and the collapse of the OPEC + deal. "There's a lot of talk...

by · Economy

Coronavirus: Former players criticise Liverpool's 'poor' decision to furlough non-playing staff

The Glazers have stuck to paying the playing and non-playing staff their regular wages without the help of the Government furlough scheme, while club Captain Harry Maguire, organised the Manchester U...

by · Economy
Apple to ship one million face shields a week for medical workers

Apple to ship one million face shields a week for medical workers

The first delivery of Apple face shields had already been sent to Kaiser hospital facilities in the Santa Clara valley in California earlier this week, according to Cook. "We are closely coordinating ...

by · Economy
B.C. Ferries cuts sailings on major routes, suspends service on others

B.C. Ferries cuts sailings on major routes, suspends service on others

The global ferry industry group Interferry, which includes BC Ferries, has called for financial aid from governments around the world "to offset unsustainable losses incurred - expected to be in the b...

by · Economy

Liverpool legends slam club for placing non-playing staff in furlough

Mike Ashley was the first Premier League club owner to disgracefully abuse the government's furlough scheme, the billionaire businessman passing responsibility for financially supporting the club's ...

by · Economy
Walmart Limiting Customers, Making Aisles One-Way

Walmart Limiting Customers, Making Aisles One-Way

The latest procedures come in addition to other steps taken by Walmart in hopes of increasing safety and health of its associates and customers, including limiting store hours to allow for more cleani...

by · Economy
Scott Morrison says Australia is in ‘suppression phase’ of Covid-19 battle

Scott Morrison says Australia is in ‘suppression phase’ of Covid-19 battle

Meanwhile, Australia's top health expert Brendan Murphy has said that the true global estimate of coronavirus cases could be "five or ten times higher" than the current estimate of one million cases r...

by · Economy
7 charts that show just how bad the March jobs report was

7 charts that show just how bad the March jobs report was

Though the data is meant to reflect the situation in the labor market in March, it was collected in the middle of last month, before the U.S. was named the worst affected country by the number of cor...

by · Economy
President Trump wants fans back in arenas, stadiums by August or September

President Trump wants fans back in arenas, stadiums by August or September

In the grimmest day yet for the USA state hit hardest by the pandemic , coronavirus-related illnesses killed 630 people in the last 24 hours in NY state, Governor Andrew Cuomo said on Saturday. Mor...

by · Economy
Amazon reportedly postponing Prime Day

Amazon reportedly postponing Prime Day

But according to internal meeting notes acquired by media outlets including USA TODAY and Vice News, the company's general counsel David Zapolsky says " Prime Day will be pushed off at least until ...

by · Economy
Ryanair sees passenger traffic fall by 48%

Ryanair sees passenger traffic fall by 48%

Ryanair says it operated more than 33,000 scheduled flights last month. The company said that the number of passengers it carried in March was 48% lower than the same month past year. It said it wa...

by · Economy
United States farmers hit hard by coronavirus fallout

United States farmers hit hard by coronavirus fallout

During meeting, the local milk processing companies showed sympathy and assurance of buying row dairy items from local small and marginal farmers but we still didn't get any such support from them, he...

by · Economy
IMF leader says virus fallout to be much worse than financial crisis

IMF leader says virus fallout to be much worse than financial crisis

Noting that almost $90 billion have flown out of emerging markets, even more than the scale seen during the 2008 global financial crisis , Georgieva said the International Monetary Fund is mobilisi...

by · Economy
Hardworking Morrisons staff to get huge coronavirus bonus

Hardworking Morrisons staff to get huge coronavirus bonus

Employees will get a six per cent bonus on earnings over the next year - around £1,050 for a full-time worker. Sick or self-isolating employees will also be paid the bonus, which will come in quarte...

by · Economy
Mazda celebrates centenary with new special editions for 2020

Mazda celebrates centenary with new special editions for 2020

The Mazda R360 was a small lightweight coupe introduced in 1960, powered by a four-cylinder engine (it arrived before Mazda's foray into rotary engines) matched to an automatic transmission. The res...

by · Economy
Coffee plunger: Luckin shares crater on misconduct allegations

Coffee plunger: Luckin shares crater on misconduct allegations

The company said it had suspended COO Jian Liu and employees reporting to him following initial recommendations from a special committee that was appointed to investigate issues in its financial state...

by · Economy
Trump bans U.S. companies from exporting needed medical supplies

Trump bans U.S. companies from exporting needed medical supplies

Officials in multiple countries have notably called out the United States government's effort to secure masks and other key medical supplies. Prime Minister Justin Trudeau says his government will n...

by · Economy
USA stock market falls, capping the worst week since financial crisis

USA stock market falls, capping the worst week since financial crisis

The S&P 500 has now plunged 12% from the all-time high it set just a week ago. NY stocks extended their losing streak Friday to finish their worst weekly sell-off since the 2008 financial crisis, wi...

by · Economy

Trudeau Confident In Country's Ability To Access Medical Supplies

He said that US companies will and should continue to export goods, but added that 3M brass have to stop "whining and spinning" and work on behalf of the American people. He added that his governmen...

by · Economy
NC deputy dies after fight with COVID-19

NC deputy dies after fight with COVID-19

No member of the Milwaukee County Sheriff's Office and no person in the custody of the Milwaukee County Sheriff's Office has tested positive for COVID-19. "We have had anxiety within the sheriff's off...

by · Economy
Mnuchin Says First Round of Pandemic Checks Arriving in 2 Weeks

Mnuchin Says First Round of Pandemic Checks Arriving in 2 Weeks

Mnuchin . Instead, payments will be automatically deposited into their bank accounts. According to a memo sent by the Trump Administration to House Democrats on the House Ways and Means Committee ,...

by · Economy
Boeing announces voluntary layoff plan

Boeing announces voluntary layoff plan

A representative for Boeing declined to comment. More than a dozen employees were infected by that virus, forcing the company to halt operations at its plants around Seattle. Boeing halted 737 product...

by · Economy