Saturday July 4-th, 2020

US Fed expands bond purchases to unlimited amount amid virus shock US Fed expands bond purchases to unlimited amount amid virus shock

In a surprise announcement Monday, it said it would make unlimited purchases of Treasury bonds and mortgage-backed securities, while adding that it would also begin buying agency commercial mortgage-backed securities. The U.S. Federal Reserve on Mo...

I Get Along 'Very Well' With Dr. Fauci I Get Along 'Very Well' With Dr. Fauci

The nation's top pandemic doc insisted that Trump takes his advice, even though he has regularly been forced to correct the president's lies and exaggerations about the fast-spreading disease. Appearing on the radio show " Mornings on the Mall " on T...

Australia limits funerals to 10 people Australia limits funerals to 10 people

Weddings can take place with only the couple, celebrant and witnesses present and funerals are restricted to ten participants. Social-distancing practices include a 1.5m distance between people, with no hugging or touching allowed. "Everyone who ha...

Fed opens unlimited 'quantitative easing' to stabilize US economy Fed opens unlimited 'quantitative easing' to stabilize US economy

European equities charged higher as investors shrugged off grim survey data showing collapsing eurozone and United Kingdom business activity in March. The dollar index stood at 102.120, off a three-year peak of 102.99. The Nikkei was given extra ...

COVID-19: WestJet lays off almost 7,000 people in response to virus COVID-19: WestJet lays off almost 7,000 people in response to virus

Calgary-based WestJet has announced that almost 7,000 of its employees will be leaving the airline, with the majority of the departures being voluntary. "We could not have achieved what was required without the support and collaboration of our union ...

Wall Street surges on hopes of $2 trillion rescue package Wall Street surges on hopes of $2 trillion rescue package

Futures contracts tied to the major USA stock indexes surged in early trading Tuesday on hopes an agreement on a stimulus bill to rescue the economy from the coronavirus was close. The planemaker has lost more than two-thirds of its value so far th...

Trump warns coronavirus shutdown could 'destroy a country' Trump warns coronavirus shutdown could 'destroy a country'

During a Fox News town hall on Tuesday, Trump reiterated he was eager to see the nation return to normal, even as doctors warn the United States will see a massive spike in cases if Americans return to crowded workplaces or events. "We lose thousands...

Sensex records worst day in history, crashes 3,934 points Sensex records worst day in history, crashes 3,934 points

The bears dominated the Indian stock market . Between the lifetime high levels and Monday's low the Sensex and Nifty are now down 38 per cent. This decline does not seem to stop. Global crude benchmark, Brent crude futures rose 2.96 per cent to ...

Amazon Rallies Its Troops to Fight COVID-19 Amazon Rallies Its Troops to Fight COVID-19

The letter writers asked a number of questions of Bezos, including clarifying what preventative steps Amazon is taking to protect its employees against the outbreak, asking whether the company would pay for testing its workers and whether the com...

Coronavirus hammers German service sector in March - PMI Coronavirus hammers German service sector in March - PMI

The service sector PMI nosedived to a record low of 29.0 from 52.5 in February, far below not only the average forecast of 42.0 in Reuters poll of economists' expectations, but also well below the lowest estimate of 32.0. "March's slump in the euro...

Sadiq Khan suspends work on Crossrail in growing row over construction workers Sadiq Khan suspends work on Crossrail in growing row over construction workers

London is the epicentre for coronavirus and has half of the UKs death toll and more than 2,000 Londoner's are confirmed with coronavirus. However, people still continued to fight their way in amid the coronavirus chaos. Nigel Farage said the scen...

Sports Direct stores will only open if given govt permission Sports Direct stores will only open if given govt permission

The sportswear giant was forced into a U-turn after initially claiming it was classed as an essential retailer and meant to stay open. Management justified keeping stores open on the basis that selling sporting and fitness equipment makes the compa...

Gold falls as cash dash overwhelms stimulus measures Gold falls as cash dash overwhelms stimulus measures

Federal Reserve mounted aggressive new steps to combat the economic impact from coronavirus outbreak, boosting investors sentiment. Silver futures on MCX rebounded 4.5% or ₹1,700 per kg to ₹39,620 per kg, extending their 6% gain of the previous s...

Federal Reserve details new steps to stabilize economy amid coronavirus crisis Federal Reserve details new steps to stabilize economy amid coronavirus crisis

The Federal Reserve on Monday announced an all-out effort to support a USA economy stressed by the coronavirus pandemic by permitting unlimited buying of Treasury bonds and mortgage-backed securities. The bank has also slashed its benchmark inter...

U.S. stocks under pressure as virus hits economy U.S. stocks under pressure as virus hits economy

Announcement of the extraordinary measures briefly lifted USA stock index futures before Monday's trading session began, but the mounting death toll from COVID-19 and a tide of lockdowns more U.S. In making its announcement, the Federal Reserve said ...

Crude oil futures rise, but support seen weak Crude oil futures rise, but support seen weak

Brent LCOc1 futures for May delivery rose 52 cents, or 1.9%, to $27.55 as of 0015 GMT. The price war comes during a time of severely reduced global demand due to the spread of the coronavirus, and the oversupply and demand strain have pushed crude ...

Coronavirus stimulus bill fails to pass in second vote Coronavirus stimulus bill fails to pass in second vote

His bill would authorize an expansion of Federal Reserve liquidity programs, delay a controversial new accounting standard for loan losses, give the Federal Deposit Insurance Corp. Five Republican senators are in self-quarantine due to either a posi...

UK Job Furlough Scheme Should Be Copied In NZ UK Job Furlough Scheme Should Be Copied In NZ

It is now unclear whether the maximum salary can be £2500 and employees will receive 80% of that, or whether employees earning up to £3,125 per month will receive 80% of that figure (which is £2,500). Concerns have already been raised over busine...

Boeing to suspend production at Washington facilities Boeing to suspend production at Washington facilities

One Boeing employee who worked at the Everett plant has died, marking the first death among the Boeing employees who have tested positive, according to The Seattle Times . Employees who can work from home will continue to do so, other workers would ...

CVS will pay bonuses to employees required to work during coronavirus outbreak CVS will pay bonuses to employees required to work during coronavirus outbreak

CVS operates more than 9,900 pharmacies around the USA, which have found themselves on the frontlines of the response to the coronavirus pandemic . The company's CVS Pharmacy locations remain open during the COVID-19 crisis. CVS's hiring push is o...

Website calculates how much toilet paper you really need Website calculates how much toilet paper you really need

The website, HowMuchToiletPaper.com, asks users to input how may rolls of toilet paper they now have inside their home and the average number of daily toilet visits in their household. The result of your calculations will automatically register with...

Fed to buy unlimited Treasurys to support coronavirus-hit financial markets Fed to buy unlimited Treasurys to support coronavirus-hit financial markets

The Fed has previously announced it would purchase at least $500bn of Treasury securities and at least $200bn of mortgage-backed securities but will now buy bonds in "the amounts needed to support smooth market functioning". The bank has also slash...

Australian Businesses, Workers to Get $66 Billion in Virus Aid Australian Businesses, Workers to Get $66 Billion in Virus Aid

The minimum payment in the first package has been increased from $2,000 to $10,000. Asset testing will also be waived for the JobSeeker Payment, Youth Allowance JobSeeker and Parenting payments. The government is also providing up to $715 million...

To boost finances, govt mulls raising excise duty on petrol and diesel To boost finances, govt mulls raising excise duty on petrol and diesel

Congress chief spokesperson Randeep Surjewala said such an act by the government was "inhumane and heartless", as people were losing their livelihood and the government was making profit by raising excise duties on petrol and diesel. Government has r...

SoftBank Group to sell 4.5 tril. yen in assets SoftBank Group to sell 4.5 tril. yen in assets

News of the massive buyback sent SoftBank stock limit-up, soaring more than 18 percent in the last hour of trade in Tokyo. SoftBank did not specify which of its assets would be sold, though it has come under pressure from Elliott to unwind a portio...

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