Dollar surrenders to euro and yen as rate…

That is wiping out the yield advantage that had fueled a popular carry globally - borrowing at negative rates in the euro and yen to buy U.S. assets. The two-year yield fell to 0.5420 per cent, the lowest since July 2016. Money markets were prici... More..

by | Published 23 days ago
United Airlines Tightens Its Belt As Coronavirus Hits Demand
by | Sunday, March 08, 2020

United Airlines Tightens Its Belt As Coronavirus Hits Demand

The memo to United employees, sent by board chairman Oscar Munoz and CEO Scott Kirby , said the airline is working closely with the U.S. Centers for Disease Control and Prevention, the World Health Organizat...More..

Breaking down the Super Tuesday primary results
by | Sunday, March 08, 2020

Breaking down the Super Tuesday primary results

Bloomberg has committed his resources to help whoever is the Democratic nominee to oust U.S. President Donald Trump . "Today, I am leaving the race for the same reason: to defeat Donald Trump - because it is c...More..

Wells Fargo to raise its minimum wage for workers nationwide
by | Sunday, March 08, 2020

Wells Fargo to raise its minimum wage for workers nationwide

The move creates an incentive for consumers to enroll their Wells Fargo debit card in a digital wallet like Apple Pay, Google Pay or Samsung Pay where they are more likely to use it for future purchases, unders...More..

United States job growth in February was far above predictions
by | Sunday, March 08, 2020

United States job growth in February was far above predictions

February was a fantastic month for the American economic climate as well as jobs numbers after January as well as December surpassed far better than was initially reported. The February figures "provide a snaps...More..

Fight over toilet paper as panic-buying escalates
by | Saturday, March 07, 2020

Fight over toilet paper as panic-buying escalates

It isn't the Thunderdome, it isn't Mad Max, we don't need to do that. "The NT News cares", the news paper had said in the front page. One woman yells: "I just want one packet". Prime Minister Scott Morrison...More..

Canada's Trade Deficit Widens in January to C$1.47 Billion
by | Saturday, March 07, 2020

Canada's Trade Deficit Widens in January to C$1.47 Billion

That left China with a trade deficit of 42.59 billion yuan in the first two months of the year, according to Reuters calculations based on customs data. The US still maintains a surplus in services trade of U...More..

Olive Garden customer demands non-Black server
by | Saturday, March 07, 2020

Olive Garden customer demands non-Black server

A manager at an Olive Garden is accused of complying with a customer's request for a server who is not black, media outlets report . Robbins, 22, said the manager complied with the customer's demand for a wh...More..

Trump Says CDC Trip Called Off Over Suspected Coronavirus Case
by | Saturday, March 07, 2020

Trump Says CDC Trip Called Off Over Suspected Coronavirus Case

According to The Associated Press , Trump told reporters Friday that there were concerns that a CDC employee who was "potentially infected with the coronavirus ". Trump said the person has since tested negat...More..

USA jobs report: Economy adds 273K jobs, unemployment at 3.5 percent
by | Friday, March 06, 2020

USA jobs report: Economy adds 273K jobs, unemployment at 3.5 percent

The three per cent annual gain also matched projections. The services sector again led the advance in job gains in February. Notable job gains occurred in the health care and social assistance sector (57,...More..

Dow Jones Industrial Average now down more than 1,100 points
by | Friday, March 06, 2020

Dow Jones Industrial Average now down more than 1,100 points

Markets have endured roller coaster ups and downs for weeks amid uncertainty over how much damage the outbreak of the new coronavirus will do to the global economy. JPMorgan and Bank of America both droppe...More..

Two Microsoft employees test positive for coronavirus
by | Friday, March 06, 2020

Two Microsoft employees test positive for coronavirus

According to sources, in a blog post , Executive Vice President Kurt DelBene told employees that they have been asked to work from home so as to ensure their safety and also provide a safer work environment fo...More..

by | Friday, March 06, 2020

USA stockmarket volatility continues as coronavirus wreaks havoc

ET, the Dow Jones Industrial Average was down 710.78 points, or 2.62%, at 26,380.08 and the S&P 500 was down 76.15 points, or 2.43%, at 3,053.97. That came a day after the Dow dropped 786 points as the Fede...More..

Nigeria, others agree to cut 1.5 million barrels
by | Friday, March 06, 2020

Nigeria, others agree to cut 1.5 million barrels

Saudi Arabia , the world's third-biggest producer, is a supporter of further cuts. "An agreement to reduce the OPEC + group output level by at least one million barrels per day is imperative; otherwise oil p...More..

US Federal Reserve Cuts Interest Rate
by | Friday, March 06, 2020

US Federal Reserve Cuts Interest Rate

Looking further out the implied Fed funds rate curve, there are about three and a half 25-basis point cuts priced in by the September 16 meeting. The single currency was nearly there, being up at $1.1231 on...More..

Apple Reportedly Pulls Out of SXSW 2020 Due to Coronavirus Fears
by | Friday, March 06, 2020

Apple Reportedly Pulls Out of SXSW 2020 Due to Coronavirus Fears

The festival is one of the large-scale events that is held every year. Also on Wednesday, health officials in Texas announced the state's first confirmed case of coronavirus in Fort Bend County, outside...More..

Yes Bank: 30 days to find resolution, says RBI governor
by | Friday, March 06, 2020

Yes Bank: 30 days to find resolution, says RBI governor

For the next month, Yes Bank will be led by RBI-appointed administrator Prashant Kumar, a former chief financial officer of the State Bank of India (SBI). In January, the bank said it had rejected a $1.2 bill...More..

by | Friday, March 06, 2020

Facebook pulls out of South by Southwest festival over coronavirus fears

In recent years, Twitter has presented speakers and events in its "Twitter House". The organisers of SXSW are still planning to hold the event. A petition went up on Sunday , now signed by over 35,000 people...More..

Amazon Questioned Over Coronavirus Price Gouging 03/05/2020
by | Friday, March 06, 2020

Amazon Questioned Over Coronavirus Price Gouging 03/05/2020

With many products sold out or being rationed in stores, shoppers have turned to online retailers to order masks, hand sanitiser and even hazmat suits. Traders who break the company's " fair pricing policy " ri...More..

What electric vehicles does General Motors make?
by | Friday, March 06, 2020

What electric vehicles does General Motors make?

For now, the carmaker has yet to reveal finer details about its proprietary batteries, nor has it explained how they differ from others that are currently in the market. Talk of a true Cadillac flagship sedan...More..

To combat spread of coronavirus, Starbucks pauses use of reusable cups
by | Friday, March 06, 2020

To combat spread of coronavirus, Starbucks pauses use of reusable cups

It's the latest corporate impact from the global spread of COVID-19, which caused global stock markets to fall and has created worries in the Canadian tourism industry. Also, all locations will pause the use of...More..

Toyota recalls 1M more cars due to fuel pump issues
by | Friday, March 06, 2020

Toyota recalls 1M more cars due to fuel pump issues

UMW Toyota Motor (UMWT) has announced a recall to replace the fuel pump on certain units of Toyota and Lexus models in Malaysia. "The company says owners of vehicles not involved in the January recall will be...More..

Help prevent coronavirus with hand sanitizer: How to make your own
by | Friday, March 06, 2020

Help prevent coronavirus with hand sanitizer: How to make your own

The Centers for Disease Control and Prevention ( CDC ) also advises hand washing and the use of hand sanitizers to prevent the virus from spreading or taking hold in the first place. To help guard against catc...More..

IKEA Recalls 820,000 Dressers for Tip-Over Hazards
by | Friday, March 06, 2020

IKEA Recalls 820,000 Dressers for Tip-Over Hazards

The exact problem, as stated in the U.S. Consumer Product Safety Commission recall notice: "The recalled chest is unstable if it is not anchored to the wall, posing tip-over and entrapment hazards that may ...More..

Coronavirus could impact global air transport business of upto $63 billion: IATA
by | Friday, March 06, 2020

Coronavirus could impact global air transport business of upto $63 billion: IATA

The markets accounted for in this scenario and their anticipated fall in passenger numbers are China (-23%), Japan (-12%), Singapore (-10%), South Korea (-14%), Italy (-24%), France (-10%), Germany (-10%), and ...More..

Ex-Uber Engineer Bankrupt After $179 Million Google Ruling
by | Friday, March 06, 2020

Ex-Uber Engineer Bankrupt After $179 Million Google Ruling

Levandowski , who left Google in January 2016, was one of the company's founders of what is now known as Waymo - Google's self-driving auto project - before moving on to Uber . He also faces a criminal case ...More..

OPEC looks to cut production as virus outbreak hits demand
by | Thursday, March 05, 2020

OPEC looks to cut production as virus outbreak hits demand

The price of oil has fallen by about a quarter since the virus began to spread internationally, with demand for fuel expected to decline. On the other hand, there was news Saudi Arabia was pushing for a milli...More..

PM creates COVID-19 cabinet committee to deal with novel coronavirus
by | Thursday, March 05, 2020

PM creates COVID-19 cabinet committee to deal with novel coronavirus

The members of the Cabinet Committee are: Chrystia Freeland (Chair), Jean-Yves Duclos (Vice-Chair), Navdeep Singh Bains, William Sterling Blair, Patricia Hajdu, Mélanie Joly, William Francis Morneau, and Carla ...More..

Wall Street opens lower as G7 doesn't mention monetary policy action
by | Thursday, March 05, 2020

Wall Street opens lower as G7 doesn't mention monetary policy action

The Dow Jones Industrial Average surged more than 700 points, while the benchmark S&P 500 climbed 2.7%, placing in on track for its best day since January 2019. Cruise operators Carnival Corp, Royal Caribbean C...More..

South Africa's Minister of Health confirms country's first coronavirus case
by | Thursday, March 05, 2020

South Africa's Minister of Health confirms country's first coronavirus case

In Nigeria , a single case of an Italian citizen who tested positive to the virus is still keeping the country on its toes. "The case has been self-isolated at home since the onset of symptoms and is receiving...More..

Robinhood users miss stock rally as the trading platform seizes up
by | Thursday, March 05, 2020

Robinhood users miss stock rally as the trading platform seizes up

We will update this article if and when Robinhood releases a formal statement regarding the cause of this issue. Robinhood, the free stock-trading app, crashed on one of the first days the stock market gained...More..

Supreme Court quashes disproportionate RBI ban on cryptocurrencies
by | Thursday, March 05, 2020

Supreme Court quashes disproportionate RBI ban on cryptocurrencies

The crypto behemoth was swift to celebrate the ruling passed today by Supreme Court . Nischal Shetty, chief executive of the WazirX cryptocurrency exchange, welcomed the ruling saying investment had stoppe...More..

Sick pay from day one for those affected by coronavirus
by | Thursday, March 05, 2020

Sick pay from day one for those affected by coronavirus

Under emergency legislation to halt the spread of Covid-19, the British prime minister said payments will be moved forward from the fourth day of sickness under current rules. The fairest and simplest solution ...More..

World Bank unveils $12-b aid package to combat coronavirus
by | Thursday, March 05, 2020

World Bank unveils $12-b aid package to combat coronavirus

Mr Malpass called on countries to coordinate their actions on a regional and worldwide level, saying the speed and breadth of the response would be critical to saving lives. She also declined to say whether the...More..

Citroën introduces a two-seat EV that costs €19.99 a month
by | Wednesday, March 04, 2020

Citroën introduces a two-seat EV that costs €19.99 a month

The Citroen Ami comes with a boxy design that looks the same whether you see it from the front or back. The Ami is classified as a quadricycle in France, which means that anyone over the age of 14 can d...More..