WRAPUP 2-China's economy skids as virus immobilises factory, consumer sectors

The collapse in activity affected every sector of the world's second biggest economy, as the epidemic and draconian measures created to contain it delivered an unprecedented shock that is now being replicated around the world. The disappointing ... More..

by | Published 15 days ago
Lush, Urban Outfitters, Nike among stores closing over the coronavirus
by | Monday, March 16, 2020

Lush, Urban Outfitters, Nike among stores closing over the coronavirus

The sportswear retailer said Sunday it will be closing stores in U.S., Canada, Western Europe, Australia and New Zealand "to limit the spread of the coronavirus (COVID-19)". Covid-19, the disease caused by th...More..

Uber may temporarily suspend drivers exposed to the coronavirus
by | Monday, March 16, 2020

Uber may temporarily suspend drivers exposed to the coronavirus

The statement added that the company is also consulting with an epidemiologist to make sure their efforts were grounded in medical advice. The company said it would offer financial assistance for 14 days ...More..

Fed slashes rates, pulls out the stops to cushion coronavirus blow
by | Monday, March 16, 2020

Fed slashes rates, pulls out the stops to cushion coronavirus blow

The global financial rout showed no signs of slowing last week. President Trump said he has no plans to demote Federal Reserve Chair Jerome Powell but reminded that he has the right to. Churns in the Trea...More..

by | Monday, March 16, 2020

Google CEO says high-tech tools to help people amid COVID-19 pandemic

We have many, many locations behind us, by the way. In all, the difference between the reality of what is being built and what was promised at the press conference is very large. According to the announcement...More..

Coronavirus: Brazilian President Bolsonaro Tests Positive After Dining, Shaking Hands With Trump
by | Monday, March 16, 2020

Coronavirus: Brazilian President Bolsonaro Tests Positive After Dining, Shaking Hands With Trump

Wajngarten tested positive for the virus after returning to Brazil with flu-like symptoms. While the Brazilian communications chief was photographed with the American president, Bolsonaro sat beside Trump dur...More..

Delta Air Lines suspends all travel to Europe amid travel ban
by | Sunday, March 15, 2020

Delta Air Lines suspends all travel to Europe amid travel ban

Bastian said in his memo that he is optimistic that the White House and Congress will offer their support during the crisis but said the form of help and the value is "unpredictable". Flights, however, will con...More..

European Central Bank ramps up stimulus but stops short of rate cut
by | Sunday, March 15, 2020

European Central Bank ramps up stimulus but stops short of rate cut

Following the European Central Bank's ( ECB ) decision to leave its interest rates unchanged while announcing additional asset purchases of €120 billion until the end of the year alongside new TLTROs, Christ...More..

Cruise Lines Shut Down, Airlines Continue To Reduce Flights 03/16/2020
by | Sunday, March 15, 2020

Cruise Lines Shut Down, Airlines Continue To Reduce Flights 03/16/2020

Cruising giants Royal Caribbean and Norwegian Cruise Line announced Friday that both companies will temporarily suspend sailings as the coronavirus continues to spread. Refund options: Either a 100 perce...More..

Spain declares state of emergency over coronavirus
by | Sunday, March 15, 2020

Spain declares state of emergency over coronavirus

Spain is the worst affected country in Europe after Italy, which has more than 15,000 cases. The travel ban Washington imposes on 26 European nations has been effective since Friday midnight. But luxury sport...More..

Liquidity in U.S. Treasuries worrisome as Fed tries to restore order
by | Sunday, March 15, 2020

Liquidity in U.S. Treasuries worrisome as Fed tries to restore order

A move like that could offer some comfort to investors after Thursday's bruising decline, in which the Dow Jones Industrial Average notched its biggest one-day drop since 1987. On Friday, the Fed accelerated it...More..

SBI, seven other lenders to invest ₹10,000 crore to revive Yes Bank
by | Sunday, March 15, 2020

SBI, seven other lenders to invest ₹10,000 crore to revive Yes Bank

It had reported a loss of Rs 629 crore in the September quarter. "The order of moratorium on the reconstructed bank. shall cease to have effect on the third working day at 18:00 hours from the date of commencem...More..

Government Raises Excise Duty On Petrol, Diesel By Rs 3 Per Litre
by | Sunday, March 15, 2020

Government Raises Excise Duty On Petrol, Diesel By Rs 3 Per Litre

The national hike translates to a 4.8 per cent increase in diesel prices, and a 4.3 per cent hike in petrol prices in India's capital New Delhi , compared with Friday's prices. Since 2014, duties on petrol and...More..

Twitter Tells All Employees to Work From Home
by | Sunday, March 15, 2020

Twitter Tells All Employees to Work From Home

The social-media giant made working from home mandatory for its roughly 4,900 employees around the world less than two weeks after encouraging them to do so . Other tech companies like Google and Amazon have...More..

Jack Ma Donates 2 Million Masks for Coronavirus Crisis in Europe
by | Sunday, March 15, 2020

Jack Ma Donates 2 Million Masks for Coronavirus Crisis in Europe

Ma, who is China's richest man, said that over the past weeks, his organizations had helped provide similar supplies to virus-hit countries such as Japan, South Korea, Italy, Iran and Spain. As of Thursday, the...More..

United Kingdom travel insurers stopping policy sales over coronavirus
by | Sunday, March 15, 2020

United Kingdom travel insurers stopping policy sales over coronavirus

However, it is quite a different scenario in the United Kingdom with British insurer LV saying: "In light of the significant impact that coronavirus is having globally, LV=. "We envisage that these decisions,...More..

Coronavirus outbreak: Twitter makes work from home mandatory for all employees
by | Sunday, March 15, 2020

Coronavirus outbreak: Twitter makes work from home mandatory for all employees

Jennifer Christie, Vice-President, People, in a blog said, "Informed all employees globally they must work from home ". The company also said that it will continue to pay contractors and hourly workers who a...More..

Royal Caribbean, Norwegian cruise lines suspend cruises for a month
by | Sunday, March 15, 2020

Royal Caribbean, Norwegian cruise lines suspend cruises for a month

More than 15 cruise trips won't be sailing this month after Disney Cruise Line made a decision to cancel all four ships' voyages for the rest of the month as a precaution against the coronavirus , Disne...More..

Stocks surge on Wall Street after Thursday's crash
by | Sunday, March 15, 2020

Stocks surge on Wall Street after Thursday's crash

News that the White House and Congress were close to announcing an agreement on a package to provide sick pay, free testing and other resources helped boost the market in the morning. chief economist Jan Hatz...More..

Governor urges cancellation of large gatherings as tests show coronavirus in Colorado
by | Sunday, March 15, 2020

Governor urges cancellation of large gatherings as tests show coronavirus in Colorado

Cuomo tweeted Thursday that starting 5 p.m. Friday, gatherings of 500 people or more will not be allowed in NY state, and that facilities with an occupancy of 500 or fewer have to reduce their capacity by 50 pe...More..

Coronavirus scare: Facebook, Amazon, Google ask employees to work from home
by | Sunday, March 15, 2020

Coronavirus scare: Facebook, Amazon, Google ask employees to work from home

Washington state has reported the largest number of coronavirus cases in the U.S. Health officials as of Thursday afternoon had reported at least 70 confirmed cases. The unidentified employee was last in th...More..

Fed starts bond purchases under ramped up liquidity program
by | Sunday, March 15, 2020

Fed starts bond purchases under ramped up liquidity program

The Federal Reserve of NY has just announced a massive liquidity package to help calm virus-related disruptions in Treasury markets . Such asset purchases aimed at stimulating the economy, known as quantitat...More..

Amazon to offer sick pay to ill and quarantined hourly workers
by | Saturday, March 14, 2020

Amazon to offer sick pay to ill and quarantined hourly workers

Until late Wednesday, many of Amazon's thousands of warehouse workers, including in N.J., would have gone without pay if they had to stay home because of the virus . The company also said it was setting up a...More..

Australia unveils stimulus package of $11.4 billion over COVID-19
by | Saturday, March 14, 2020

Australia unveils stimulus package of $11.4 billion over COVID-19

Payments of up to $25,000 for businesses with a turnover of up to $50 million. "We'll get through this together Australia". Where a business has to let an apprentice go, a new employer can get the subsidy. "The...More..

Coronavirus: Ryanair cancels Italy flights until April 8
by | Saturday, March 14, 2020

Coronavirus: Ryanair cancels Italy flights until April 8

According to the FCO, British nationals are still "able to depart Italy without restriction". "The advice is that anyone who arrives from Italy subsequent to Italian government decision should now self-isolat...More..

Delta slashes flights by 40% as virus cripples global travel
by | Saturday, March 14, 2020

Delta slashes flights by 40% as virus cripples global travel

Charlotte Douglas International Airport's dominant carrier said late Thursday that along with suspending flights Friday from CLT to Frankfurt and Munich, the airline plans to cut more international flights th...More..

Oil prices jump nearly 4%, reversing early losses
by | Saturday, March 14, 2020

Oil prices jump nearly 4%, reversing early losses

The global benchmark is expected to average about $34.87 in the second quarter and $39.05 in Q3, before regaining some ground to $44.08 in the final quarter. Russian Prime Minister Mikhail Mishustin pointed out...More..

Warren Buffett: investors should ignore scary headlines
by | Saturday, March 14, 2020

Warren Buffett: investors should ignore scary headlines

Attendance at the Omaha, Nebraska, event will be limited to Buffett himself, possibly Munger, the company's vice chairman; and several Berkshire employees who will deliver proxy votes, according to the statemen...More..

Stock markets plunge after World Health Organization declares pandemic
by | Saturday, March 14, 2020

Stock markets plunge after World Health Organization declares pandemic

At 11:23 a.m. ET, the Dow Jones Industrial Average .DJI was down 1,472.88 points, or 5.69 per cent, at 24,391.90, while the S&P 500 was down 163.11 points, or 5.49 per cent, at 2,809.26. Still, the standard...More..

Coronavirus outbreak: Iran asks International Monetary Fund to provide its first loan since 1962
by | Saturday, March 14, 2020

Coronavirus outbreak: Iran asks International Monetary Fund to provide its first loan since 1962

Iran has been facing a severe threat of the coronavirus with a steep rise in the number of confirmed cases and the death toll. Iran has asked for an emergency United States dollars 5 billion loan from th...More..

Fear grips investors as North American stock markets plunge, loonie down
by | Friday, March 13, 2020

Fear grips investors as North American stock markets plunge, loonie down

The outbreak of the coronavirus that originated in China has quickly grown into a pandemic that is threatening major sectors of the global economy, stoking fear that the USA and other economies could be tippe...More..

Newsnight, Who is Rishi Sunak? Shock appointment of unknown new chancellor
by | Friday, March 13, 2020

Newsnight, Who is Rishi Sunak? Shock appointment of unknown new chancellor

Sajid Javid resigning from his position as Chancellor, the coronavirus and a row over Agatha Christie are among the stories leading Friday's papers. A Cabinet reshuffle took place on Thursday which saw seve...More..

Princess Cruises suspends voyages for 60 days over coronavirus
by | Friday, March 13, 2020

Princess Cruises suspends voyages for 60 days over coronavirus

Princess Cruises, the operator of two coronavirus-stricken ships, said on Thursday it would suspend global operations of its 18 cruise ships for two months, sending shares of its parent company Carnival Corp do...More..

Coronavirus outbreak: Google setting up fund to give workforce paid sick leaves
by | Friday, March 13, 2020

Coronavirus outbreak: Google setting up fund to give workforce paid sick leaves

Google has asked all of its employees in North American countries to work from home unless their work absolutely requires presence in office, as previously reported. Last week, Facebook , shut down its Lon...More..

Coronavirus: UK expected to move to 'delay' phase of outbreak
by | Thursday, March 12, 2020

Coronavirus: UK expected to move to 'delay' phase of outbreak

Countrywide the number of confirmed cases rose from 456 to 590, with eight people having so far died from the disease. Only people in hospital would be tested, he said, adding that schools will be asked to ca...More..