Saturday July 4-th, 2020

Broadway theaters shutting down in wake of coronavirus concerns Broadway theaters shutting down in wake of coronavirus concerns

Cuomo said the sweeping proposal to slow down the spread of the COVID-19 virus will go into effect Friday at 5 p.m., but that the rules for Broadway will begin 5 p.m. The Broadway League has said it will continue to monitor the situation and make...

Trump announces delay of tax deadline for virus victims Trump announces delay of tax deadline for virus victims

The Trump administration will likely push back the April 15 deadline to file taxes as part of efforts to curb the coronavirus' effects on US households and businesses, the Wall Street Journal reported late on Tuesday, citing a USA official and an u...

Gas prices drop to $2.11 per gallon in Madison-area Gas prices drop to $2.11 per gallon in Madison-area

The tweet sent the MotorTrend newsroom into a frenzy: Gas had dropped to $1.36 in Oklahoma City, according to Patrick De Haan , a pricing analyst at GasBuddy . McKnight makes his most recent prediction the same week he said gas prices would start...

American Airlines dropping more global flights over coronavirus American Airlines dropping more global flights over coronavirus

Delta Airlines announced Friday it is scaling back flights by 40% and suspending service to most of Europe amid the coronavirus crisis , CEO Ed Bastian stated in a letter to employees. United Airlines Holdings Inc. chopped its April domestic sch...

Fed to provide $1.5 tril. in temporary liquidity Fed to provide $1.5 tril. in temporary liquidity

It will offer an additional $500 billion in one-month repo and $500 billion in three-month repo loans on Friday. The Treasury market has faced " highly unusual disruptions .associated with the coronavirus outbreak", the New York Fed, which cond...

Coronavirus Budget package well created to protect from short-term impact Coronavirus Budget package well created to protect from short-term impact

Stephen Jones, the chief executive of UK Finance, said smaller firms are the foundations of any successful economy and the banking industry has the "commitment and capacity to support viable businesses" hit by the crisis. "A recession this year is qu...

Bank of Canada cuts benchmark rate to 0.75 per cent Bank of Canada cuts benchmark rate to 0.75 per cent

Morneau introduced an additional C$10 billion ($7.1 billion) in new funding for the country's two business financing agencies - the Business Development Bank of Canada and Export Development Canada. "This unscheduled rate decision is a proactive meas...

Stocks surge on Wall Street after Thursday's crash Stocks surge on Wall Street after Thursday's crash

In both cases the declines were the worst single-day losses since the 2008 financial crisis. The Dow Jones Industrial Average closed 1,985 points or 9.4% higher at 23,185, while the S&P 500 surged 9.3% to 2,711. "And while travel restrictions on pe...

Iran requests International Monetary Fund for $5 billion emergency funding to battle coronavirus Iran requests International Monetary Fund for $5 billion emergency funding to battle coronavirus

Iran has not received assistance from the IMF since a "standby credit" issued between 1960 and 1962, according to the fund's data. The death toll stands at 429, with 75 deaths in the past day. The neighboring institutions are based in downtown Was...

World stocks set for worst week since 2008 financial crisis World stocks set for worst week since 2008 financial crisis

All the main S&P 500 sub-indexes were trading higher, with financial stocks .SPSY rising 13.23% as expectations of further liquidity measures by the Federal Reserve pushed up Treasury yields, in what has become a very thin market. Even with Friday'...

Berkshire Hathaway to hold annual meeting without shareholder attendance Berkshire Hathaway to hold annual meeting without shareholder attendance

The weekend includes Berkshire's May 2 annual meeting. The weekend normally attracts more than 40,000 people. In his latest annual letter to shareholders in Berkshire Hathaway , Buffett's investment vehicle, the 89-year-old writes that when ev...

US oil companies cut budgets amid price rout US oil companies cut budgets amid price rout

Helima Croft, head of global commodity strategy at RBC Capital Markets spoke on CNN saying Russian Federation has been dropping hints that the real target is the USA shale oil producers and not emerging markets like Nigeria because it is fed up with ...

FCO warns against all but essential travel to Italy amid coronavirus lockdown FCO warns against all but essential travel to Italy amid coronavirus lockdown

As the death toll due to deadly coronavirus crosses 4,000 on Tuesday, travel was restricted across Italy from Tuesday and public gatherings were forbidden throughout the country, as the government placed the whole peninsula on lockdown to fight t...

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

Meadows, a veteran Republican congressman from North Carolina, joins five other lawmakers who are putting themselves in quarantine or restricting their work after contact with people who tested positive for the new coronavirus. It's unclear what enco...

USA bull market 'will soon end', says Goldman Sachs USA bull market 'will soon end', says Goldman Sachs

David Kostin just made a bold call: The 11-year-old bull market in USA stocks is about to become history. Such a drop would notch equities' first year-over-year profit decline since 2015. On a quarterly basis, Goldman said earnings per share will lik...

Dow falls 8.7 percent as United States stocks face another rout Dow falls 8.7 percent as United States stocks face another rout

As trading ended on Thursday in Wall Street's worst day for three decades, shell-shocked investors had no idea how much further the market was likely to fall as the coronavirus pandemic spread fear of a global recession. All 11 major sectors of the S...

Coronavirus: Google India employee diagnosed with COVID-19 Coronavirus: Google India employee diagnosed with COVID-19

The software engineer had travelled to Greece with his spouse and is reportedly the fifth of six COVID-19 cases in Karnataka. Google released an official statement stating, "We can confirm that an employee from our Bangalore office has been diagn...

Trump travel ban bludgeons stocks, Dow falls 1600 points at open Trump travel ban bludgeons stocks, Dow falls 1600 points at open

The S&P 500 also hat its worst day since 1987. "The coronavirus is scary and people don't know what to expect", said Kathy Entwistle, a senior vice president of wealth management at UBS. Cruise line shares dropped sharply. American Airlines a...

Stock markets plunge as COVID-19 becomes a pandemic Stock markets plunge as COVID-19 becomes a pandemic

The S&P 500 is 17% below its recent record high, as Wall Street grapples with just how bad the coronavirus will be for the global economy. Concerns about the disease have disrupted manufacturing, prompted widespread closings and cancellations, and ...

Princess Cruises suspends operations for coronavirus pandemic Princess Cruises suspends operations for coronavirus pandemic

Parent company Carnival's stock slide 20% on the news, and so far, Carnival's stock is down 57% since the beginning of the year when the viruses spread began. About 700 passengers on the operator's Diamond Princess vessel were infected, leading t...

EU ‘Disapproves’ of Trump Banning Travel From Some European Countries EU ‘Disapproves’ of Trump Banning Travel From Some European Countries

The ban does not apply to USA citizens, green card holders or families of US citizens, according to the Department of Homeland Security. President Donald Trump announced Wednesday night that the United States will suspend travel to the country fr...

Google recommends all North America employees to work from home Google recommends all North America employees to work from home

The coronavirus outbreak has killed more than 4,200 people and infected over 118,000 people worldwide. Google leadership has been proactive in discussing measures to mitigate the spread of the disease within its large workforce. By the nature o...

Amid cornavirus, Amazon giving $5M to small businesses impacted by outbreak Amid cornavirus, Amazon giving $5M to small businesses impacted by outbreak

Schoettler expressed the importance of hundreds of restaurants , food trucks, coffee shops, retailers and other small businesses that surround the company's dozens of headquarters buildings, saying they "are a meaningful part of what give our neig...

Bazooka? Fed jacks up repo operations Bazooka? Fed jacks up repo operations

The Federal Reserve promised to unleash a torrent of liquidity Thursday to fight what it described as "highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak". This adds a massive jolt of liquidity to fina...

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...

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