Economy

Dow Jones drops 500 points on Jerome Powell's grim outlook

Dow Jones drops 500 points on Jerome Powell's grim outlook

Meanwhile, economic data continued to paint a grim picture with the latest batch of reports indicating USA retail sales and manufacturing output endured record declines in April as the virus-led slump...

by · Economy
Negative U.S. Interest Rates? Don’t Bet On It

Negative U.S. Interest Rates? Don’t Bet On It

Elsewhere a strong greenback pushed the kiwi NZD=D3 to a three-week low of $0.5968 and had the euro and pound under pressure. "The committee's view on negative rates really has not changed". The lat...

by · Economy
Sensex, Nifty surge after PM Modi's Rs 20 lakh crore stimulus boost

Sensex, Nifty surge after PM Modi's Rs 20 lakh crore stimulus boost

Overnight in the US, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite benchmark indices closed up 1.15 per cent, 1.62 per cent and 0.91 per cent respectively, as investors weighed the pr...

by · Economy
Applications open for self-employed grants

Applications open for self-employed grants

Sinn Féin MP Francie Molloy has written to the HMRC requesting that they immediately resolve the problems with identity verification for people from the North registering for the Self Employed Incom...

by · Economy
Australia requests China trade talks, won't drop inquiry push

Australia requests China trade talks, won't drop inquiry push

Australia's Minister of Trade, Tourism and Investment Simon Birmingham says "an investigation around the handling of COVID-19 has no relationship whatsoever to Australian exports of beef or barley"....

by · Economy

Dow slides early Thursday to extend string of losses this week

The Dow was up 244 points, or 1.1%, at 23,486, following a skid that saw it lose as many as 458 points at its intraday nadir at 22,789.62, or down almost 2%. Strong performances by bank stocks and ris...

by · Economy
Here's what's in the House Dem's $3 trillion coronavirus relief bill

Here's what's in the House Dem's $3 trillion coronavirus relief bill

The House is expected to vote on the package as soon as Friday, but Senate Majority Leader Mitch McConnell has said there is no urgency to act on new legislation. "We must think big, for the peopl...

by · Economy
United Kingdom facing 'significant recession' chancellor warns as economy falls

United Kingdom facing 'significant recession' chancellor warns as economy falls

Last week, the Bank of England forecasted that the economy could shrink by roughly 30% in the first half of the year if lockdowns are eased in June as anticipated. But the economy is expected to bear ...

by · Economy
Plenty of PPP loan money remains after Week 2, Round 2

Plenty of PPP loan money remains after Week 2, Round 2

Small business owners had been alarmed when SBA officials recently disclosed that if they were unable to certify their need for the funds they would not only have to return the money but face penaltie...

by · Economy
Australia must brace for more 'hard news', says PM as employment slumps

Australia must brace for more 'hard news', says PM as employment slumps

Prime Minister Scott Morrison has warned employment figures will get worse , even as 600,000 jobs were confirmed lost in April as a result of the coronavirus pandemic. JP Morgan economist Tom Ken...

by · Economy
World Trade Organization Chief to resign in a virtual meeting

World Trade Organization Chief to resign in a virtual meeting

Not everyone agreed the timing was right, however. The WTO has struggled to remain relevant under Azevedo's tenure, with worldwide trade tensions and protectionism on the rise. After serving four year...

by · Economy
Bitcoin’s Hashrate Has Plummeted Following Block Reward Halving

Bitcoin’s Hashrate Has Plummeted Following Block Reward Halving

The cryptocurrency relies on "miners" who run software that solves highly complex maths puzzles in return for bitcoins. "The incentive is less for miners now to mine Bitcoin". However, this may lead...

by · Economy
United Kingdom furlough scheme extended to October

United Kingdom furlough scheme extended to October

Despite the extension of the furlough scheme, Patrick Langmaid said it's still unlikely to stop him making people redundant from his Mother Ivey's Bay holiday park, at Padstow. The Chancellor of the E...

by · Economy
Twitter to permit employees to work from home 'forever'

Twitter to permit employees to work from home 'forever'

The social media giant, which employs 5,000 people, closed its offices amid the coronavirus pandemic back in early March, and now many staff will be given the option to never return again - except t...

by · Economy

"I'm Very Disappointed In China": Donald Trump Slams Beijing Over Coronavirus

The much-criticized tweet was posted a day after Trump stirred controversy by telling an Asian American reporter to "ask China" when pressed on why he continues to bring up the USA coronavirus testing...

by · Economy
USA stocks fall sharply after Powell warns of

USA stocks fall sharply after Powell warns of "significant downside risks"

It comes as lawmakers debate additional spending to shield the United States economy from coronavirus shutdowns. The unemployment rate in April rose to 14.7%, and many analysts believe the jobless...

by · Economy
PM gave a headline and a blank page, says P Chidambaram!

PM gave a headline and a blank page, says P Chidambaram!

Clarifying that by self-reliance he did not mean insularity and suspicion of the world as in the past, but embracing the world in the spirit of Vasudheva Kutumbakam (the world is one family). Moneta...

by · Economy
Elon Musk announces California factory reopening against government guidance

Elon Musk announces California factory reopening against government guidance

Late on Monday, health officials in Alameda County said they were aware Tesla had opened beyond the so-called minimum basic operations allowed during lockdown, and had notified the company it could ...

by · Economy
Extension of furlough scheme offers

Extension of furlough scheme offers "big relief for millions", says TUC

Workers will, through the combined efforts of government and employers, continue to receive the same level of overall support as they do now at 80% of their current salary up to £2,500 a month. In Suf...

by · Economy
Facebook to Pay $52 Million Settlement to Content Reviewers Who Developed PTSD

Facebook to Pay $52 Million Settlement to Content Reviewers Who Developed PTSD

Facebook also agreed to employ new safety measures for US -based content moderators working for its vendors. United States moderators who were part of the suit will receive $1,000 each from the se...

by · Economy
Australia's treasurer Josh Frydenberg tested for coronavirus after coughing fit during speech

Australia's treasurer Josh Frydenberg tested for coronavirus after coughing fit during speech

Earlier, Frydenberg had forecast unemployment would double to 10%. But the government revised its surplus forecast to A$5 billion ($3.2 billion) in December - before devastating wildfires and the cor...

by · Economy
Alameda's Deal To Tesla for Opening Fremont Plant

Alameda's Deal To Tesla for Opening Fremont Plant

President Donald Trump, who has been an outspoken supporter of reopening the economy, weighed in the saga on Twitter Tuesday morning, siding with Musk. " The plant may end up working for almost one ...

by · Economy
Canada unveils new financial aid measures to support large businesses

Canada unveils new financial aid measures to support large businesses

In addition, recipient companies would be required to commit to publish annual climate-related disclosure reports consistent with the Financial Stability Board's Task Force on Climate-related Financia...

by · Economy
2 arrested in Target brawl over wearing coronavirus masks

2 arrested in Target brawl over wearing coronavirus masks

Security cameras captured the moment three security guards escorted two men out of the store for refusing to wear a face covering. "As they approached the exit, one suspect, suddenly without provoca...

by · Economy
Twitter to allow most employees to work from home permanently

Twitter to allow most employees to work from home permanently

Even before the COVID-19 outbreak, Dorsey voiced plans to encourage a "distributed workforce" with more remote employees living outside San Francisco, where the company is headquartered. It will be ca...

by · Economy
How major US stock indexes fared Monday

How major US stock indexes fared Monday

Earlier, Asian markets were supported somewhat by the Chinese central bank's promise to use "more powerful" policies to support economic recovery and job creation. They often fall more than the rest o...

by · Economy
Treasury Department nearing end of stimulus payments; $218 billion sent so far

Treasury Department nearing end of stimulus payments; $218 billion sent so far

Some people have been getting a different amount of the $1,200 expected and the IRS noted that they had to revert to the 2018 tax return to calculate eligibility and amount of the economic impact p...

by · Economy
Pelosi Unveils $3 Trillion Coronavirus Relief Bill

Pelosi Unveils $3 Trillion Coronavirus Relief Bill

The Democratic-led House, which is on recess, will return to Washington, D.C., Friday to approve the legislation. John Thune of South Dakota, the second-ranking Republican in the Senate. It also provi...

by · Economy
US authorises use of anti-viral drug remdesivir for coronavirus patients

US authorises use of anti-viral drug remdesivir for coronavirus patients

There are no medicines approved by the FDA as safe and effective to treat people in the hospital who have COVID-19. However, it did not significantly improve survival rates. In all, over 180,100 p...

by · Economy
Twitter says it will allow employees to work from home 'forever'

Twitter says it will allow employees to work from home 'forever'

With very few exceptions, Twitter's offices won't open before September, the company said. Visit Business Insider's homepage for more stories . "If our employees are in a role and situation tha...

by · Economy
Chancellor confirms the Job Retention Scheme will last until October

Chancellor confirms the Job Retention Scheme will last until October

The Furlough scheme could be extended until September. This inflexibility supposed that some organisations which will have endured buying and selling at a discounted degree needed to shut exclusively....

by · Economy
Ryanair Plans 1000 Flights Per Day By July

Ryanair Plans 1000 Flights Per Day By July

Ryanair has announced a plan to restore 40% of its flight schedule from July 1. Passengers will have to be temperature checked before entering the airport and facemasks or face coverings will b...

by · Economy
Gold Price Prediction - Prices Rise but Remain Range bound as CPI Drops

Gold Price Prediction - Prices Rise but Remain Range bound as CPI Drops

Economists polled by Reuters had forecast the CPI falling 0.8 percent in April and rising 0.4 percent year-on-year. The department added that data collection last month was also impacted "by the tem...

by · Economy
White House Adviser Hassett: May Unemployment Could Climb to 20%

White House Adviser Hassett: May Unemployment Could Climb to 20%

The US jobless rate may peak "north of" 20 per cent in May or June before the economy starts to recover from coronavirus-related shutdowns in the second half of 2020, a top White House adviser said....

by · Economy
Morrisons slashes fuel prices to under £1 a litre

Morrisons slashes fuel prices to under £1 a litre

Raising retail prices has also become important for OMCs now as the recent steel excise duty hike without resultant increase in petrol and fiscal prices, has substantially brought down its marketing m...

by · Economy