Saturday July 4-th, 2020

Many more families are going to lose loved ones before their time Many more families are going to lose loved ones before their time

Contrary to most other European nations, the United Kingdom will not be closing schools and public institutions yet, but have advised foreign school trips to be cancelled and those over the age of 70 with underlying health conditions to not go on c...

Google tells staff to work home due to coronavirus

The new recommendation is an expansion of a similar guideline it gave to employees in San Francisco Bay area. Alphabet is the latest company to make such an announcement as USA coronavirus cases have risen to nearly 1,000. While some such workers...

Australia unveils $11.4B in coronavirus outbreak stimulus Australia unveils $11.4B in coronavirus outbreak stimulus

A payment of $750 will be made from the end of this month to about 6.5 million people as part of the government's $17.6 billion stimulus package aimed at keeping Australia out of a recession caused by the impact of the coronavirus. More than US$84 bi...

South African employers cite limited hiring intentions, payroll rises in Q2 South African employers cite limited hiring intentions, payroll rises in Q2

This is different from the national average, which pegs employers as mostly being cautiously optimistic when it comes to their hiring over the next quarter. Considerably weaker hiring plans are reported in the Finance & Business Services sector, with...

Dow tumbles 1,500 points on COVID-19 anxiety Dow tumbles 1,500 points on COVID-19 anxiety

European stocks drifted lower Wednesday, shedding much of the gains posted in the morning after an unexpected rate cut by the Bank of England. Investors blamed Wall Street's Wednesday slide on worries about the economic impact of the COVID-19 vir...

New York Fed to pump in $150 bn daily New York Fed to pump in $150 bn daily

The Federal Reserve Bank of NY on March 9 said it had increased its daily cash injections to the banking system to ensure an ample supply of bank reserves. Policymakers previously said the plan was to scale back the bill purchases and the repo oper...

Sterling dips against euro after United Kingdom rate cut Sterling dips against euro after United Kingdom rate cut

It takes the Bank Rate - which is the interest rate the BoE pays commercial banks for their deposits with the central bank - back to the record low it reached after 2016's Brexit referendum. "And although not now our call, the next step for the BOE...

Stock rally to build in Asia after strong Wall St Stock rally to build in Asia after strong Wall St

Wall Street's major averages closed sharply lower on Monday as concerns over oil-price plunge and the continued spread of the coronavirus gripped the financial markets. The price of oil plunged almost 25% after Saudi Arabia indicated it would ramp up...

Could Spike Higher if US Stimulus Falls Short of Expectations Could Spike Higher if US Stimulus Falls Short of Expectations

The meeting Wednesday had also been scheduled to address restrictions on exports of U.S. goods and technology to China, according to those people. USA stocks rebounded in their largest daily gain since late 2018 on hopes that a government stimulus ...

Stocks Plunge in Worst Day Since Financial Crisis Stocks Plunge in Worst Day Since Financial Crisis

After a three-week rout that included its biggest one-day drop since 2008, the S&P 500 is down about 16% from the high of 3,386.15 it reached on February 19. The Dow Jones Industrial Average plunged more than 2,000 points at one point during the da...

Banks set to allow customers to defer loan repayments on their mortgages Banks set to allow customers to defer loan repayments on their mortgages

A spokeswoman for RBS said: "We are monitoring the potential impact of coronavirus across all our customers to ensure we can support them appropriately through any period of disruption". The measures are similar to those already in place for people f...

Google asks all North American employees to work from home Google asks all North American employees to work from home

Google has more than 100,000 employees globally, the majority of which are based in the U.S. The company had previously made it optional for California and NY workers to come into the office, but is now telling its entire North America operation to w...

Saudi adopts 'shock and awe' tactics against rivals in the oil market Saudi adopts 'shock and awe' tactics against rivals in the oil market

Pakistan also had the option of securing "forward buying" contracts with oil suppliers to benefit from the plunge in crude prices, said industry sources, adding that it depended on how long the current oil market trend continued. Saudi Arabia's state...

Italy under nationwide lockdown to contain coronavirus Italy under nationwide lockdown to contain coronavirus

Conte says that public health takes precedence over everything else and called for responsibility on behalf of all Italians . However, global train and flight connections, as well as local public transport , have not been restricted by Rome.

Oil prices trend higher after Russian Federation signals olive branch to OPEC Oil prices trend higher after Russian Federation signals olive branch to OPEC

Saudi Arabia has been pumping around 9.7 million bpd in the past few months. "I want to say the doors aren't closed", Novak told the state-run Rossiya 24 television network. Ed Yardeni, president of Yardeni Research, said: "While this game of chic...

Global stocks rebound as Italy-wide coronavirus lockdown begins Global stocks rebound as Italy-wide coronavirus lockdown begins

Yields on benchmark USA 10-year Treasury debt more than doubled to 0.70 per cent and those on German Bunds jumped around 20 basis points at one point as investors pared some safe-haven holdings, though they were beginning to ease again. "Today's acti...

When Will Crude Oil Hit a Bottom? When Will Crude Oil Hit a Bottom?

On 9 March, oil prices plunged by over 30 percent after OPEC member states failed to agree on production cuts. Nevertheless, Moscow was willing to offer an olive branch. Prices plunged to nearly $31 on Monday. "The oil price is being manipulate...

Tesla has produced one million cars

That's because some customers complained on Chinese social media that Tesla had used the less advanced HW2.5 chips in some Model 3 sedans made at its new Shanghai plant instead of the HW3.0 chips listed on the spec sheets. Competition from traditio...

Plunging oil prices amid coronavirus fears slam Wall Street, TSX

Stocks on Tuesday recouped most of their historic losses from the prior day as hopes rose, faded and then bloomed again on Wall Street that the USA government will try to cushion the economic pain from the coronavirus. Crude itself at one point dro...

Walmart adds emergency leave program; employee tests positive for coronavirus

According to the memo, an associate at a store in Cynthiana, Kentucky tested positive for COVID-19. Effective immediately, Walmart will allow employees to stay home if they are unable to work or feel "uncomfortable" at work, according to a memo s...

American Airlines suspends more flights through summer for coronavirus

And Delta said it no longer stood by its previous earnings outlook for 2020. The airline will reduce its worldwide capacity over the summer peak with 10%, including a 55% reduction in trans-Pacific capacity. Delaying the seasonal resumption of se...

Trump Has Not Been Tested for Coronavirus: White House Trump Has Not Been Tested for Coronavirus: White House

The White House had previously tried to pressure the Federal Reserve to cut rates, hoping that would calm markets. As the Dow Jones Industrial Average dived more than 2,000 points during Monday morning trading, Trump , via Twitter, blamed the mark...

Passenger reaction to sneezing person and coronavirus concerns causes plane to divert Passenger reaction to sneezing person and coronavirus concerns causes plane to divert

American is the dominant carrier at Charlotte Douglas International Airport, and celebrated the milestone of operating more than 700 daily flights out of CLT mid-February . Airlines around the world have been hit hard by the COVID-19 outbreak and ...

Payroll tax cuts and hourly worker relief possible in coronavirus response Payroll tax cuts and hourly worker relief possible in coronavirus response

There are now 36 states with coronavirus cases, with the number of confirmed cases jumping to 717 per latest reports by CNN . Vice President Mike Pence said more than 1 million coronavirus tests have been distributed and an additional 4 million ...

Coronavirus: US warns citizens not to travel on cruise ships Coronavirus: US warns citizens not to travel on cruise ships

Ottawa agreed to repatriate yet another large group of Canadians stuck on a ship, the Grand Princess , that was set to dock in California Monday because the US government requested Canada's aid. Health authorities in Alberta, Canada have disclosed t...

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