Saturday July 4-th, 2020

Businesses will need a coronavirus bailout, says Bank chief Andrew Bailey Businesses will need a coronavirus bailout, says Bank chief Andrew Bailey

The committee heard the Bank is considering a "variety of policy options" while Chancellor Rishi Sunak is also looking at fiscal measures, with the Budget due on March 11. Still, he said that "policy can always act in a timely manner". Deputy Gover...

COVID-19 | 6 members of Delhi patient’s family test positive for coronavirus COVID-19 | 6 members of Delhi patient’s family test positive for coronavirus

The Coronavirus infected man from Delhi had organised a party in Agra, which was also attended by the school mates of his children and five other families. Minister of State for External Affairs V Muraleedharan told Lok Sabha that 17 Indians overse...

Canadian dollar falls after Bank of Canada delivers bigger rate cut

Poloz is due to speak Thursday in Toronto to provide insight into the decision. Speaking at an event north of Montreal on Wednesday, Prime Minister Justin Trudeau said his government was monitoring the impact of COVID-19 on the Canadian economy, in...

SC allows trading in cryptocurrency, ends 2018 ban imposed by RBI SC allows trading in cryptocurrency, ends 2018 ban imposed by RBI

The market cap of the currency stood at $161 billion. "Most of the infrastructure and bits and pieces towards the cryptocurrency was already built out over the last few years", said Benson Samuel director of technology at Tokenyz Ventures.

Robinhood suffers online outage with market advancing after rout Robinhood suffers online outage with market advancing after rout

The team had also promised to release updates when they become available, ending the message with an apology, and appreciation of the users' patience as the team works to fix the service. After the persistent Outage, users of the Platform reported ...

Dow industrials surge 500 points, extending volatile streak Dow industrials surge 500 points, extending volatile streak

Wall Street is about to start another rough week. Investors, in turn, loaded up on U.S. Treasurys, pushing the benchmark 10-year yield below 1% for the first time ever. Meanwhile, Co-Diagnostics soared after announcing plans to provide coronavirus...

Coronavirus kills United States markets, Australia follows Coronavirus kills United States markets, Australia follows

Markets appeared to be unimpressed by a pledge Tuesday from the Group of Seven major industrialized countries to support the global economy that included no specific measures. From July to October past year, the Fed cut rates by 0.25 point three tim...

Australia central bank cuts rates to record low on virus fears Australia central bank cuts rates to record low on virus fears

It probably means the news was already priced into the market. Freedom Lend, Homestar , Reduce Home Loans , RACQ Bank, 86 400 , Auswide Bank, Defence Bank, The Mutual, St George, Bank SA, Bank of Melbourne, RAMS, Bank West Macquarie, Suncorp, Ne...

Northern Rail franchise enters new era of public control Northern Rail franchise enters new era of public control

Northern received the lowest score of any train company in the latest major survey by watchdog Transport Focus. The chaotic introduction of new timetables in May 2018 saw hundreds of Northern trains cancelled each day. We need to improve performanc...

Coronavirus: Twitter tells staff to work from home Coronavirus: Twitter tells staff to work from home

In a statement, the tech giant said it was "operating out of an abundance of caution and the utmost dedication". The social networking service said that it was working to "make sure internal meetings, all hands, and other important tasks are optimi...

Amazon confirms first coronavirus case among US employees Amazon confirms first coronavirus case among US employees

In an email to employees in Seattle and Bellevue, Amazon's health and safety office confirmed that an employee of the company's Brazil office building, which is part of the South Lake Union Campus in Seattle, had contracted the virus. "Your heal...

India stops export of certain APIs India stops export of certain APIs

The New York Times reports that India is taking similar steps: "Over the longer term, the Indian government is considering pushing forward with a long-stalled plan to make more drug ingredients domestically and reduce the country's reliance on Ch...

Wall Street slashes billions despite emergency interest rate cut Wall Street slashes billions despite emergency interest rate cut

A gauge measuring traders' fear of upcoming swings for stocks jerked wildly up and down through the day. The index ended the day down 86.86 points, or 2.8%, at 3,003.37. Stocks rose sharply on Wall Street Monday, clawing back a small part of the loss...

G7 ready to use 'all appropriate policy tools' against coronavirus risk: statement G7 ready to use 'all appropriate policy tools' against coronavirus risk: statement

Instead, the group only reaffirmed their commitment to use "all appropriate policy tools" to achieve growth. Group of Seven (G-7) finance officials said yesterday that they would take all possible steps to safeguard the global economy from the sp...

European Council chief urges Ankara to respect 2016 migrant deal European Council chief urges Ankara to respect 2016 migrant deal

Mitsotakis had announced his intention to visit the area with Michel in a tweet on Sunday evening, after chairing a meeting of the Government Council on National Security (KYSEA). UN High Commissioner for Refugees, Filippo Grandi, said he understood ...

Reserve Bank cuts interest rates to record low Reserve Bank cuts interest rates to record low

Financial markets had fully priced in a quarter-point cut. Reserve Bank may not wait three weeks for "coronavirus special" on interest rates * Reserve Bank doesn't hold miracle cure for coronavirus ills * Would an OCR cut help vaccinate the ec...

Disney+ to join Sky in multi-year deal Disney+ to join Sky in multi-year deal

Due to coronavirus concerns, Disney has reportedly canceled a launch event in the United Kingdom for its new streaming platform , Disney+. It all seemed to be down to Sky still holding the United Kingdom rights for new episodes of the legendary anim...

US Federal Reserve slashes rates amid coronavirus impact US Federal Reserve slashes rates amid coronavirus impact

After a Tuesday morning conference call, finance ministers and central bank leaders from the world's seven major economies said only that they stood "ready to cooperate further on timely and effective measures" without elaborating much on what form...

Tackling coronavirus: Federal Reserve cuts rates by half a percentage point

Pricing in futures tied to the Fed's policy support a 100 per cent chance of a half percentage-point rate cut at the Fed's March meeting, and another half a percentage point-cut by July. Global stocks and commodity markets extended a tentative recove...

Coronavirus Cases Globally Are NINE Times Higher Than Those Recorded In China

China has said it will focus on preventing those infected with coronavirus from crossing borders, as other imported cases had arrived in the country last week. Travellers from the virus hotspots of South Korea , Japan, Iran and Italy arriving in the...

Coronavirus: Global markets bounce back Coronavirus: Global markets bounce back

The blue chip index ended almost 1,294 points higher at 26,703, climbing for the first time in eight trading days. That statement helped temper steepening losses on Friday and boosted sentiment on Monday, with Goldman Sachs analysts suggesting that t...

Trump Calls for Rate Cut Following RBA Rate Cut Trump Calls for Rate Cut Following RBA Rate Cut

Today, the Reserve Bank of Australia cut their cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus. Earlier, Australian Prime Minister Scott Morrison said his government was working closely with...

Ripple Would Be Unprofitable Without XRP Sales, CEO Admits Ripple Would Be Unprofitable Without XRP Sales, CEO Admits

The fact that Ripple would not be profitable or cash flow positive without selling XRP didn't come as a surprise to the company's critics, who have been questioning Ripple's partnerships with remittance services such as MoneyGram . The filing r...

Windsor unemployment rate increased to 7.5% in December 2019 Windsor unemployment rate increased to 7.5% in December 2019

Analysts in a Reuters poll had forecast a gain of 25,000 jobs in December and an unemployment rate of 5.8%. October and November were both revised down. Nationally, the increase in the number of jobs in December came as full-time employment r...

Fed's Powell: US economy remains strong but coronavirus poses evolving risks Fed's Powell: US economy remains strong but coronavirus poses evolving risks

In a statement Friday , Powell said the Fed will "act as appropriate" in the face of risks posed by the epidemic, though he said the economy remains in good shape overall. "We will use our tools and act as appropriate to support the economy", he s...

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