Coronavirus Repo Madness: Fed Pumps Overnight Liquidity To $175 Billion

In a statement, the regional Fed bank said it would increase its daily overnight repurchase agreement (repo) operations to at least $175 billion for the next month. With $123.63 billion in repos maturing Wednesday, the overall amount of Fed repos ros... More..

by | Published 19 days ago
Savers should lock in fixed-rate deals before the banks cut back
by | Thursday, March 12, 2020

Savers should lock in fixed-rate deals before the banks cut back

The Bank announced Wednesday morning it had reduced rates from 0.75% to 0.25%, marking the lowest level in history. The Bank of England slashed interest rates by half a percentage point on Wednesday and annou...More..

Dow Plunges Over 1,000 Points as Wild Market Swings Continue
by | Thursday, March 12, 2020

Dow Plunges Over 1,000 Points as Wild Market Swings Continue

The Dow Jones Industrial Average rallied on Tuesday, gaining 1,167 points, or 4.88%, to cap a volatile trading session characterized by 1,000-point swings as the novel coronavirus continues sending shock wa...More..

Wall Street ends 11-year ‘bull market’ as coronavirus fears spread
by | Thursday, March 12, 2020

Wall Street ends 11-year ‘bull market’ as coronavirus fears spread

A correction is Wall Street's term for an index like the S&P 500, the Dow Jones Industrial Average , or even an individual stock, that's fallen 10% or more from a recent high. "The package must be large enou...More..

Coronavirus: Trump floats measures to swell workers' paycheques
by | Thursday, March 12, 2020

Coronavirus: Trump floats measures to swell workers' paycheques

Markets have continued to fall after the World Health Organization declared a pandemic and Trump didn't provide specifics of "substantial" economic measures he'd promised, including aid for the airline and ...More..

by | Thursday, March 12, 2020

Google tells staff to work home due to coronavirus

Google employs nearly 120,000 people, most of whom work in North America. "The goal of businesses moving to work-from-home arrangements is to significantly reduce the density of people and lower health risk i...More..

White House Says Trump Not Tested for Coronavirus
by | Wednesday, March 11, 2020

White House Says Trump Not Tested for Coronavirus

More than 110,000 people have been infected, and about 3,800 have died in the outbreak, which originated in China late past year and has spread to at least 105 countries and territories. The US President spen...More..

by | Wednesday, March 11, 2020

Coronavirus: Italy extends measures to entire country

The new figures brought the national tally to 7,513, while the death toll rose by eight to 59. All domestic flights operated by Ryanair within Italy will be suspended from midnight on March 11 (Irish time...More..

Oil prices jump 10pc after biggest one-day fall since 1991
by | Wednesday, March 11, 2020

Oil prices jump 10pc after biggest one-day fall since 1991

In other words, the market expects the economics of US shale to act as a long-term anchor for prices, with the business cycle and OPEC+ production policy providing short-term volatility around this level. "It's...More..

Paranoid passengers cause United flight to divert over virus fears
by | Tuesday, March 10, 2020

Paranoid passengers cause United flight to divert over virus fears

Airlines have wasted thousands of gallons of fuel running empty "ghost" flights during the coronavirus outbreak because of European rules saying operators can lose their flight slots if they keep their planes...More..

Virus fears trigger shock waves across global markets, volatility worsens India’s woes
by | Tuesday, March 10, 2020

Virus fears trigger shock waves across global markets, volatility worsens India’s woes

Equity markets throughout Asia sank in a sea of crimson with MSCI's broadest index of Asia-Pacific shares outdoors Japan plummeting 3.zero per cent to a five-month low, Japan's Nikkei falling 4.7 per cent and...More..

Coronavirus: Qantas cuts almost quarter of flights
by | Tuesday, March 10, 2020

Coronavirus: Qantas cuts almost quarter of flights

Airlines around the world are experiencing a collapse in demand due to the coronavirus, which an industry body last week estimated could lower passenger revenue by as much as US$113 billion (S$156.5 billion ) ...More..

Petrol, diesel prices fall check new rates here
by | Tuesday, March 10, 2020

Petrol, diesel prices fall check new rates here

Chennai: Petrol at Rs. 73.33/liter (decreased Rs. 0.25); diesel at Rs. 66.75/liter (decreased Rs. 0.26). The price of a barrel of Brent crude, the global standard, had reached around 35.50 USA dollars at ...More..

Weather warning for torrential rain in Devon issued
by | Tuesday, March 10, 2020

Weather warning for torrential rain in Devon issued

Today's warning only applies to County Clare. On Monday morning, the Met Office updated its map to include a more serious amber warning for a large portion of central Wales, where fast flowing or deep flood...More..

Coronavirus: US warns citizens not to travel on cruise ships
by | Tuesday, March 10, 2020

Coronavirus: US warns citizens not to travel on cruise ships

The State Department directive, posted on Twitter just before 4 p.m., warned Americans of the risks of taking cruises amid the outbreak, noting that other countries with strict screening procedures had stoppe...More..

Coronavirus infects Amazon employee in Seattle, company says
by | Tuesday, March 10, 2020

Coronavirus infects Amazon employee in Seattle, company says

A Google employee in Switzerland has also been tested positive for COVID-19 last week at its office in Zurich, Switzerland. Seattle so far has been the most affected state in the USA to have been affected by ...More..

New York Governor declares state of emergency over coronavirus
by | Tuesday, March 10, 2020

New York Governor declares state of emergency over coronavirus

Amazon, and Mr. eBay, if you continue the price gouging, we will introduce our product [to the market], which is superior to your product", Cuomo said. "We may have to deal with that reality", she said. Cuomo...More..

Coronavirus upside? Gas prices falling
by | Tuesday, March 10, 2020

Coronavirus upside? Gas prices falling

On Monday, March 9, oil prices were down about 20% after Saudi Arabia made a decision to increase supply in the global market in response to a price war with Russian Federation. This is traditionally the time o...More..

Virus-hit cruise ship prepare to dock in California
by | Monday, March 09, 2020

Virus-hit cruise ship prepare to dock in California

Two more deaths linked to a virus-hit care home near Seattle were reported on Sunday, bringing the nationwide toll to at least 21 people. The company said the crew would remain onboard after the passengers ha...More..

Trading on Wall Street suspended as coronavirus impacts world markets
by | Monday, March 09, 2020

Trading on Wall Street suspended as coronavirus impacts world markets

A 13% drop in the S&P 500 would stop trading for another 15 minutes, while a 20% decline would halt the market for the rest of the day. The most violent drops came from the oil markets, where prices cratere...More..

A look at how the oil price crash is upending markets
by | Monday, March 09, 2020

A look at how the oil price crash is upending markets

Prices are falling as Saudi Arabia, Russia and other oil-producing countries argue how much to cut production in order to prop up prices. Saudi Arabia announced that it is cutting the price for April crude ...More..

Media Stocks Caught Up As Global Markets Tumble
by | Monday, March 09, 2020

Media Stocks Caught Up As Global Markets Tumble

The fight against climate change may suffer a setback as fossil fuels become more competitive versus renewable energy. Goldman's base case is now for no such deal, it said. The global benchmark Brent crude is...More..

Yes Bank crisis: Founder Rana Kapoor arrested by ED for money laundering
by | Monday, March 09, 2020

Yes Bank crisis: Founder Rana Kapoor arrested by ED for money laundering

The ED on Sunday stopped Rana Kapoor's daughter from taking a flight to London as she is required to join the probe in a money laundering case against her father, officials said. The three daughters - Rakhe...More..

Starbucks and Tim Horton's stop accepting resusable cups due to COVID-19
by | Monday, March 09, 2020

Starbucks and Tim Horton's stop accepting resusable cups due to COVID-19

Tim Hortons is Canada's largest restaurant chain operating in the quick service industry serving over 5 million cups of coffee every day with 80% of Canadians visiting one of almost 4,000 Tim Hortons in Canada ...More..

Bond yields sink, stocks fall as investors demand safety amid outbreak
by | Sunday, March 08, 2020

Bond yields sink, stocks fall as investors demand safety amid outbreak

The Bank of Canada and the Reserve Bank of Australia also cut rates, with investors expecting other major central banks to follow suit soon. One thing for certain is that many investors saw the stock market as ...More..

Joey Chestnut Breaks World Record for Most Big Macs Ever
by | Sunday, March 08, 2020

Joey Chestnut Breaks World Record for Most Big Macs Ever

Prior to his performance, the record was set at 30. Competitive eating superstar Joey Chestnut has taken it next level however, taking on 32 burgers, and polishing them off in a ridiculous 38 minutes and ...More..

Apple follows in Microsoft's footsteps, tells staff to Work From Home
by | Sunday, March 08, 2020

Apple follows in Microsoft's footsteps, tells staff to Work From Home

Officials there had previously asked large companies to consider letting employees to telecommute to limit close contact. Minimize the number of employees working at your fingertips, including minimizing or c...More..

by | Sunday, March 08, 2020

13 in MA test positive for coronavirus disease

The cases include two women and one man from Suffolk County, all in their 40s; and two individuals form Norfolk County, one woman in her 30s and one man in his 40s. As of Saturday, there is now one confirmed ca...More..

by | Sunday, March 08, 2020

Barnier signals 'serious divergences' on post-Brexit deal negotiations with the UK

Mr Barnier said Britain's refusal to heed EU demands for robust provisions on fair competition was a problem, as well as the UK's plan to step away from the European Convention on Human Rights. Britain insists ...More..

Coronavirus: Lufthansa to ground 150 aircraft
by | Sunday, March 08, 2020

Coronavirus: Lufthansa to ground 150 aircraft

The Lufthansa Group sees itself forced to make this cancellation for economic and operational reasons, as many passengers are no longer entitled to enter the country. Several US carriers, British Airways and ...More..

Why You Can't Use Your Own Cup At Starbucks Right Now
by | Sunday, March 08, 2020

Why You Can't Use Your Own Cup At Starbucks Right Now

The move aims to prevent the spread of the coronavirus . 'For the coming weeks we will suspend the use of customer-owned reusable cups to prevent foreign objects from being introduced to the beverage prepara...More..

The company Facebook has temporarily closed its offices in London
by | Sunday, March 08, 2020

The company Facebook has temporarily closed its offices in London

Facebook told Friday that it was shutting down the London office and parts of the Singapore office for intensive cleaning. Hence till Monday the London office has also been closed for intensive cleaning ...More..

Dow sinks on fears over coronavirus spread in US
by | Sunday, March 08, 2020

Dow sinks on fears over coronavirus spread in US

The S&P 500 rose 18.15 points, or 0.6%. The Nasdaq Composite wrapped up the day with a loss of 162.98 points. The market remained under pressure even after a blowout jobs report. According to data from th...More..

HSBC sends home 100 London staff, confirms China coronavirus case
by | Sunday, March 08, 2020

HSBC sends home 100 London staff, confirms China coronavirus case

The equity research floor at Canary Wharf is located on the tenth floor of the bank's offices, while the trading floors are on the fourth floor - suggesting the virus could potentially be spread in elevators. A...More..

China Jan-Feb exports tumble 17.2%, imports down 4%
by | Sunday, March 08, 2020

China Jan-Feb exports tumble 17.2%, imports down 4%

The export fall was the steepest since February 2019 and worse than a 14 per cent drop tipped by a Reuters poll of analysts. A Bloomberg poll of economists had expected exports to drop less, by 16.2%, but had...More..