Finance

Airlines seeking $50 billion in government aid for coronavirus outbreak

The group said that the industry was on track to suffer a drop of US$23 billion in liquidity at the end of this year under an "optimistic" scenario and a drop...


Dow Down 7% As Trump Outlines New Coronavirus Measures

Suffering its worst one-day crash since October 1987, the Dow Jones industrial Average shed 2,997.1 points, or 12.93 percent, to close at 20,188.52. The scale...


Another black Monday as coronavirus response upends Wall Street

Trading overnight was volatile with Dow futures giving back more than 1,000 points as investors try to weigh the uncertain economic impact of the coronavirus o...


Detroit automakers agree to UAW request to shutter US plants

Ford and General Motors said they will use the downtime to sanitize the facilities and devise new plans to resume operations as safely as possible. Automake...


Virgin Australia Suspends All International Flights

Air New Zealand suspended trading yesterday for another two days to assess the financial implications of deep capacity cuts announced on Monday. We're suspend...


Dow suffers biggest drop since 1987 as economic fears intensify

The Dow Jones Industrial Averaged faced its worst point drop ever on Monday, as it fell 2,997 points at the close, or 12.9%. Other Wall Street hallmarks...


Steven Mnuchin announced the emergency aid package to stabilize economy

Senate Republicans are expected to outline the bill the same day the House sent an amended bill to the Senate that provides paid sick leave to some workers. C...


Oil falls to $30 on recession fears and Saudi pump war

The coronavirus sparked panic selling across markets for the bulk of the week but it was volume and price war between the Saudis and Russian Federation that t...


Uber and Lyft ban pooled rides in US, Canada to curb coronavirus

Andrew Macdonald, the senior vice president of Uber Rides and Platform, stated: "Our goal is to help flatten the curve on community spread in the cities we se...


New Zealand's central bank cuts interest rate to 0.25%

New Zealand's central bank governor said the bank was not contemplating negative interest rates at this point after slashing the benchmark rate to a record lo...


Indian markets crash on virus fears, Fed rate cut not enough

A 7% drop in the S&P 500 automatically forces trading to stop for 15 minutes, which has happened three times in the past week. This mechanism pauses trading...


Fed Slashes Interest Rates to Almost Zero as Coronavirus Concerns Escalate

The quantitative easing steps, including boosting purchases of exchange-traded funds, commercial paper and other financial assets, were taken by market player...


Coronavirus devastates China's economy and the 'nightmare' is not over

The National Bureau of Statistics of China revealed a massive 13.5% decline in industrial production in January-February as compared to the same period a year a...


US Fed slashes key interest rate, rolls out massive response to pandemic

According to Trump , the Federal Reserve will drop the interest rate to near zero. "The actions came as the economy was hurtling toward a recession as the ...


Google ‘Fully Aligned’ With Trump Administration in Creating National Coronavirus Website

Google and Verily did not respond to requests for further comment Saturday. But the media want to make Trump look incompetent over his response to the coron...


US Dollar Falls After Fed Cuts Rates to Zero and Launches QE

The Federal Reserve of NY has just announced a massive liquidity package to help calm virus-related disruptions in Treasury markets. The program will contin...


Cruise lines voluntarily suspend operations

The U.S. State Department advised Sunday against any travel on cruise ships, particularly for those with underlying health conditions. While we haven't received...


No need for Trump virus test: White House

Fábio Wajngarten, the communication director for Brazilian President Jair Bolsonaro's, dined with Trump on Saturday at Mar-a-Lago, according to the New York ...


Australia donates cash to ward off coronavirus recession

The package includes cash payments for small businesses and welfare recipients to counter the impact of the disease, which has infected more than 126,000 peop...


Fed Pumps Another $1.5 Trillion into Repo Market

The market for U.S. Treasurys is the foundation of all other financial products on Wall Street. But an increasing number of players believe more cuts will fol...


US Stocks Sink in Worst Day Since Black Monday

Positive developments in combating the virus will help stabilize USA stocks in the near term, said Jameel Ahmad, global head of currency strategy and market res...


Delta cuts capacity by 40% as coronavirus cripples travel

The carrier is "optimistic" about US support after discussions with the White House and Congress, Bastian said Friday in an internal memo. "That said, the form ...


Amazon Tells Staff Globally to Work from Home Where Possible

E-commerce giant Amazon has reportedly told its employees in NY and New Jersey to work from home over fears of the spread of Wuhan coronavirus . The fund...


Dow plunges over 1,400 points, ending in bear market

The Dow's fall brings the index to levels roughly 20% below its recent high. A bear market is confirmed when an index closes 20 per cent or more below its most ...


Crown Prince’s oil war looms over first Aramco results since IPO

The falls came as Asian stocks extended a global rout as concerns grow about the virus's impact on the world economy . While Russia had kept its oil wells ...


Canada to ban all cruise ships over 500 people until July

He noted that cruise schedules are usually set one or two years in advance, however, so it is now unknown how many smaller ships may redirect to Victoria this s...


Warren Buffett bars shareholders from Berkshire’s meeting over virus worries

Berkshire's annual meeting floods the city with shareholders and employees, many of whom spend hours on a Saturday listening to Buffett and Munger speak. The me...


How Do Stock Market Circuit Breakers Work?

London's FTSE 100 index plunged as much as 7.4 percent, while Germany's DAX saw a loss as large as 8.5 percent and Paris's CAC 40 tumbled as much as 8.6 percent...


Alphabet : Google Extends Work-From-Home Directive for US Staff

Since then, coronavirus cases have continued to balloon in the United States, with more than 900 cases and almost 30 deaths now confirmed across the country. ...


Stocks plunge as coronavirus declared a pandemic

On Wall Street , the Dow fell into bear market territory Wednesday, with a loss that dragged it 20% below the record set last month. The S&P 500 index drop...


United Kingdom pledges $39 billion to protect economy from coronavirus

Carney said that the package is meant to achieve "maximum impact", and warned the BOE is prepared to take further action if necessary. The Bank acted, Carney ...


Saudi Arabia steps up oil price war with big production increase

US crude oil stockpiles rose more than expected last week, but gasoline and distillate inventories fell sharply amid low refinery rates, the EIA said on Wednesd...


Wall Street slumps at open as investors doubt U.S. response to virus

S&P, Dow Jones Industrial and the NASDAQ composite were all down at least 6% when trading resumed. The Dow Jones Industrial Average closed down 1,464.94 p...


Dow plunges 700 points as whiplash on Wall Street continues

The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average , immediately raised fears that a recession might be on the way in the US and...


Donald Trump Could Address Nation Tonight or Tomorrow on Coronavirus

While more than 80% of confirmed coronavirus cases are mild and the risk remains low for those who are young and healthy, Fauci emphasized just how risky the ...


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