Friday September 25-th, 2020

United States markets tumble: Worst week since the 2008 financial crisis United States markets tumble: Worst week since the 2008 financial crisis

Those countries were given swap lines during the 2007 to 2009 crisis, and the Fed has permanent swap arrangements with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank , and the Swiss National Bank. "It is not ju...

US Fed mounts aggressive new steps to combat coronavirus hit to economy

The Fed announced a major expansion of its programs to support the economy on Monday morning following several days of frantic moves by the central bank to expand its support for credit and money markets. "Aggressive efforts must be taken across the ...

BOJ says enhanced dollar swap lines will ease strains in funding markets BOJ says enhanced dollar swap lines will ease strains in funding markets

Global central banks have taken coordinated action to make sure there is enough liquidity in the us dollar as the COVID-19 pandemic roils the global economy. The euro was 0.33% lower. The Federal Reserve said today that it will establish temporar...

Fed's Bullard: Coronavirus shutdown not a recession but an investment in survival Fed's Bullard: Coronavirus shutdown not a recession but an investment in survival

Bullard has called for a powerful fiscal response to replace the $2.5 trillion in lost income to assure a strong eventual U.S. recovery. The central bank has already cut interest rates to nearly zero and pledged to increase its holdings of Treasury...

MyGov Website Crashes Due To MyGov Website Crashes Due To "Unprecedented Demand"

The Australian Council of Social Service CEO Cassandra Goldie said those already receiving a social security payment would automatically get the $550 fortnightly payment. Photos also show huge lines of people forced to queue up outside some Centrelin...

Oil prices volatile as virus saps demand

President Donald Trump in Russia's price war with Saudi Arabia. Supply restraint by core-OPEC producers could push second-quarter Brent oil prices up to $30 a barrel, while USA measures to support the market could underpin prices in the near term...

Economic Stimulus Bill Fails Key Procedural Vote in US Senate Economic Stimulus Bill Fails Key Procedural Vote in US Senate

Congress and the U.S. government worked furiously to seal the deal on a package that could amount to about $2 trillion, likely the largest such federal intervention in United States history. The bill proposed an estimated $1.7 trillion or more in f...

Pubs, clubs closed: Time for takeaway Pubs, clubs closed: Time for takeaway

Bottle shops however will remain open. Cafes, restaurants and bars will be closed except for takeaway delivery of food. "Indoor sporting venues. Places of worship", he said. Federal Education Minister Dan Tehan said he and his state and territory c...

Steven Mnuchin: Congress close on coronavirus stimulus deal Steven Mnuchin: Congress close on coronavirus stimulus deal

While negotiators are close to a deal on the Senate side, it's still uncertain whether Pelosi will get behind it or will seek to make changes to the measure when it gets to the House, worldwide media reported. "You can think of this as a bridge for t...

How long will McDonald's close amid coronavirus panic — McDonald's closed How long will McDonald's close amid coronavirus panic — McDonald's closed

A year ago saw McDonald's open five new restaurants in Ireland, bringing the total number of outlets in the Republic of Ireland to 95. In an official statement posted to the company's United Kingdom and Ireland Twitter account, the restaurant s...

Amazon Raises Overtime Pay for Warehouse Workers Amazon Raises Overtime Pay for Warehouse Workers

A group of four USA senators, including Democratic presidential candidate Bernie Sanders, sent a letter to Amazon CEO Jeff Bezos , asking him to answer questions about how the company keeps its warehouse workers safe amid the continued spread of t...

HRM closes parks, trails and beaches as province declares state of emergency HRM closes parks, trails and beaches as province declares state of emergency

The release continued: "Municipal staff are now determining service level adjustments related to a provincial state of emergency , including Halifax Transit, and will issue announcements as decisions are confirmed". on Monday, March 23, all persons ...

Dow falls again to end Wall Street's worst week since 2008 Dow falls again to end Wall Street's worst week since 2008

Bank stocks, however, were still headed for their fifth weekly decline as investors eyed a future likely to include widespread loan defaults. Most major media companies were seesawing between slight gains and single-digit losses in early trading....

Bank of England suspends media briefings ahead of policy announcements

HMRC interest rates are linked to the Bank of England base rates and as a outcome of the change, HMRC interest rates for late payments will decrease. The committee 'decided to cut the repo rate by 100 basis points, ' said South African Reserve Bank...

Purell Manufacturer Sued for 'Misleading' Germ-Killing Claims Purell Manufacturer Sued for 'Misleading' Germ-Killing Claims

The lawsuit, filed on March 13 by four people in federal court for the Northeastern District of OH, comes at the worst time, as people across the country are reaching for hand sanitizer during a global pandemic that has infected hundreds of thousand...

Government Announces Coronavirus Bailout Package To Protect Workers Government Announces Coronavirus Bailout Package To Protect Workers

With the government pledging to pay up to 80% of the wages of employees, up to £2,500 a month, if firms agreed to keep them on, many have pointed out that now self employed workers are only entitled to claim Universal Credit at £94 a week - the e...

Scottish hotel sacks 12 staff over coronavirus making them homeless Scottish hotel sacks 12 staff over coronavirus making them homeless

Alvarito Garcia from Madrid, who has worked at the hotel - which is part of the Britannia Hotels group - for almost two years, told BBC Radio Scotland's Good Morning Scotland that staff had no warning that they were about to lose their jobs.

Emirates Airlines suspends all passenger flight operations #Coronavirus Emirates Airlines suspends all passenger flight operations #Coronavirus

Other major airlines like the American Airlines, Delta and British Airways have all announced steps to cut down operations, but not cease passenger flights entirely like Emirates has just decided. "We want to avoid cutting jobs". The disease first ...

Wisconsin gas prices are the lowest in four years Wisconsin gas prices are the lowest in four years

Saudi Arabia and Russian Federation have both ramped up production at the same time as consumer demand is lower than ever due to people working from home and practicing social distancing amid the coronavirus pandemic, he said. The price of gas across...

Banks are 'playing their part in Team Australia' Banks are 'playing their part in Team Australia'

It hopes to start cancelling repayments for stressed borrowers as early as Monday. Besides freezing small business loans, the Australian Prudential Regulation Authority (APRA), looking to get into the action itself, announced that it would be relax...

Modi government approves production-linked incentives for electronics manufacturing firms Modi government approves production-linked incentives for electronics manufacturing firms

Cabinet has approved production linked-incentives for electronics companies. In a bid to boost large-scale electronics manufacturing in India, the Union Cabinet approved three schemes, including a production-linked incentive scheme, with a total o...

Second stimulus, keep travel essential says PM Second stimulus, keep travel essential says PM

Prime Minister Scott Morrison has said all non-essential travel within Australia should be cancelled to help stop the spread of the illness which leads to COVID-19. The governments of Australia's of New South Wales (NSW) and Victoria, where more th...

Cirque du Soleil lays off most of its workforce over pandemic Cirque du Soleil lays off most of its workforce over pandemic

When this crisis started, the Group had in its portfolio of active shows 44 productions. After the World Health Organization (WHO) declared the coronavirus to be a pandemic, the company was left with no choice but to completely shut down all operat...

ASX200 finishes worst week in 11 1/2 years ASX200 finishes worst week in 11 1/2 years

As of 0112 GMT, the S&P/ASX 200 index rose 146.8 points, or 3.1 per cent, to 4,935. Australian banks said they will defer loan repayments for small businesses impacted by coronavirus for six months. because of the virus outbreak. Supermarkets w...

Ola, Uber suspend ride-sharing option across India Ola, Uber suspend ride-sharing option across India

It was reportedly mentioned by an Uber spokesperson that they are determined when it comes to reducing or containing the spread of the Covid-19 outbreak and therefore as a safety measure they have made a decision to suspend their Uber Pool servic...

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