Monday September 21-st, 2020

Oakville Ford Plant to close due to coronavirus concerns Oakville Ford Plant to close due to coronavirus concerns

Fiat Chrysler temporarily closed a factory in Sterling Heights, Mich., north of Detroit, after workers were concerned about the virus. The union said earlier in the day that it wanted the automakers to shut down their factories for two weeks to kee...

US crude hits 18-year low as lockdowns, restrictions spread US crude hits 18-year low as lockdowns, restrictions spread

The market is finding little succor in global efforts to stem the economic fallout. Rystad Energy is projecting an annualized decrease of 2.8 percent or a fall of 2.8 million bpd in global oil demand this year. shale producers, as well as the Gul...

How Do Wall Street Circuit Breakers Work? How Do Wall Street Circuit Breakers Work?

You cannot blame Trump for the coronavirus unless you believe in conspiracy theories, but you can blame his handling of it and his arrogant Tweets in general. This is the third time that so-called circuit breakers (trading curbs) have tripped in the ...

Dow closes below 20000 amid calls for United States to 'shut down' Dow closes below 20000 amid calls for United States to 'shut down'

Both the Dow Jones Industrial Average (DJIA) and the S&P 500 are scraping near their lowest point in the last three years, brushing their lowest numbers since the inauguration of President Donald J. Severe illness including pneumonia can occur, espec...

New York Stock Exchange to close trading floor Monday until further notice New York Stock Exchange to close trading floor Monday until further notice

The facilities to be closed include the equities and American options trading floors in NY and Arca options trading floor in San Francisco. A NYSE spokeswoman confirmed to The Post that the new screening process is a step to ensure that the trading f...

Aussie homeowners to pocket $54,856 from RBA’s 2019 rate cuts Aussie homeowners to pocket $54,856 from RBA’s 2019 rate cuts

There could be some positive movement this week for the pound vs the Australian dollar as the RBA decide to cut interest rates and suggest that more rate cuts could be coming, this could cause weakness for the Australian dollar. 'In balancing these i...

Trump becomes Republican Party’s presumptive presidential nominee Trump becomes Republican Party’s presumptive presidential nominee

Trump's campaign in a statement said that the primary in his home state of Florida put him above the delegate threshold to become the presumed 2020 Republican nominee for president. Trump will most likely face off against former vice president Joe ...

North American stock markets plunge again, loonie down, commodities lower North American stock markets plunge again, loonie down, commodities lower

The markets fell after the Federal Reserve over the weekend joined the Bank of Canada in again cutting interest rates. But the action was not enough to avoid renewed pressure on global stocks and the price of oil, one of Canada's major exports, as ...

Detroit 3, UAW agree on measures to keep plants running Detroit 3, UAW agree on measures to keep plants running

As he explained, "The UAW leadership, based on the World Health Organization and Centers for Disease Control and Prevention recommendations on how to protect ourselves and our communities, requested a two-week shutdown of operations to safeguard our ...

Coronavirus: Chancellor unveils £330bn support for economy Coronavirus: Chancellor unveils £330bn support for economy

Pledging to do "whatever it takes" during "a time to be bold, a time for courage", he said: "This government will give you all the tools you need to get through this". And while we need national unity, we also need global cooperation. "The insuranc...

French anti-trust watchdog slaps $1.2bn fine on Apple French anti-trust watchdog slaps $1.2bn fine on Apple

It is the highest sanction levied by the French watchdog, which stressed it was the most important sanction against a company due to the "extraordinary dimension" of the case. "Finally, the Authority considered that, in the present case, Apple had ...

Global airlines seek support as United States travel bans hit business Global airlines seek support as United States travel bans hit business

In the first two weeks of March, United says they flew more than one million fewer customers, compared to the same period previous year. They also expect load factors to decline into the 20 to 30% range, with Munoz and Kirby saying, "that's if thin...

PM Modi and Saudi Crown Prince talk over phone, discuss coronavirus PM Modi and Saudi Crown Prince talk over phone, discuss coronavirus

Futures for the worldwide benchmark, Brent crude , were down more than one percent, trading at around $28 per barrel as of 7:37am GMT. An OPEC and non-OPEC technical meeting planned for Wednesday in Vienna has been called off as attempts to mediat...

Singaporeans stock up after Malaysia announces coronavirus border closure Singaporeans stock up after Malaysia announces coronavirus border closure

The two countries, which used to be a single nation until Singapore's independence in 1965, are separated by a 1 to 2 km-wide strait and connected by two roads. Specifically, these firms will receive an allowance of $50 per worker per night for 14 ni...

Dow surges almost 2,000 points after Trump declares coronavirus national emergency Dow surges almost 2,000 points after Trump declares coronavirus national emergency

Could this be a happy Friday the 13th on Wall Street? The Dow Jones Industrial Average sank 2,352 points, or 10pc, its heaviest loss since its almost 23pc drop on Oct 19, 1987. Earlier this week, the Fed said it would inject more than $1.5 trilli...

California Considers Whether Tesla Factory Can Operate in Coronavirus Shutdown California Considers Whether Tesla Factory Can Operate in Coronavirus Shutdown

Tesla Inc.'s factory and other California operations will remain open in the midst of a San Francisco Bay Area lockdown, with Elon Musk telling employees he will keep going in to work despite the spread of the coronavirus . "If you feel the slight...

France coronavirus LOCKDOWN: Macron to announce total five week confinement to homes France coronavirus LOCKDOWN: Macron to announce total five week confinement to homes

We are at war and no one can forecast how long this current situation will go on for " Macron said . Not only are you not protecting yourself but you are not protecting others, " he told the French people. Asked whether she thinks Europe will ret...

Dow Jones falls 3,000 points, on track for worst month since 1987 Dow Jones falls 3,000 points, on track for worst month since 1987

USA stock indexes plunged about 7 percent on Monday, as the Federal Reserve's drastic interest rate cut to near zero stoked fears of a coronavirus-driven recession. Medical workers in overalls bring a patient under intensive care into the newly bui...

Federal Reserve creates new mechanism to ensure credit available Federal Reserve creates new mechanism to ensure credit available

The Fed said the Treasury will provide $10 billion of credit protection to the central bank's commercial paper operation. The Federal Reserve announced Tuesday that it will open a commercial paper funding facility to support the financing n...

Markets crater as coronavirus fears overwhelm central bank emergency measures

The Nasdaq Composite dropped 970.28 points, or 12.32 percent, to 6,904.59. The S&P 500 posted no new 52-week highs and 341 new lows; the Nasdaq Composite recorded three new highs and 1,477 new lows. With the precious metal heavily influenced by glo...

How low can oil prices go? | Inside Story How low can oil prices go? | Inside Story

Oil prices dropped below $30 a barrel during Monday's violent trading session as crude followed the Dow Jones Industrial Average downward. NY crude futures edged marginally higher in early Asian trade on Tuesday but gains were eclipsed by the prev...

Air New Zealand pauses ticket sales, cuts flights Air New Zealand pauses ticket sales, cuts flights

Air New Zealand could cut its workforce by almost a third as it battles to survive plunging demand for air travel. Air New Zealand is also cutting domestic capacity by 30%. "We are working on redeployment opportunities for some of our staff wi...

Trump administration wants to send cheques to Americans now

U.S. President Donald Trump announced a plan on Tuesday to send money to Americans immediately to ease the economic shock from the coronavirus crisis and said military-style hospitals will likely be deployed to virus hot zones to care for patient...

Uber and Lyft suspend shared ride options to limit coronavirus spread Uber and Lyft suspend shared ride options to limit coronavirus spread

Andrew Macdonald, senior vice president of Uber Rides, stated that their goal is to flatten the curve on virus spread in the cities that they now serve. It also suggested drivers ask riders to wash their hands before or after entering the auto, cov...

House sends amended coronavirus relief bill to Senate

While the Senate is in Washington this week, the House is on a scheduled week-long break. Donald Trump has said he'll sign it. "They're working to only enhance it and make it better and make it fair for everybody". "You have to ask yourselves, are we...

IN CASE YOU MISSED IT