Finance

by | March 12, 2020 | 04:14

A bear market is confirmed when an index closes 20% or more below its most recent closing high. Stocks plunged as World Health Organization director Tedros Adhanom Ghebreyesus rang alarm bells over the deadly coronavirus , which has spread to at least 114 countries, killing 4,607 worldwide.

by | March 12, 2020 | 02:29

Treasury Secretary Steve Mnuchin noted that Trump's executive authorities are "quite significant" and said the administration would be quickly rolling out "various proposals" as it works with Congress "on a bipartisan basis to be able to immediately help small and medium-sized businesses as well".

by | March 12, 2020 | 01:44

The work from home recommendations were earlier given only to employees in the San Francisco Bay Area , Dublin , and Seattle. Gizmodo reports that tech giant Google has instructed its North American employees, numbering approximately 100,000 workers, and a number of contractors to work from home due to the Wuhan coronavirus outbreak.

by | March 11, 2020 | 16:38

White Home Press Secretary Stephanie Grisham says testing was not vital as a result of Trump is just not exhibiting signs and the lawmakers aren't confirmed to be contaminated. Trump on Monday added that the administration is working with the travel and hospitality industries to contain the spread. The crisis has landed Trump in a rare situation of losing control over his messaging - a far cry from his usual aura of riding the booming economy to certain victory in November.

by | March 11, 2020 | 14:52

Prices plunged to nearly $31 on Monday. What follows is a summary of the expert's views on the matter. Saudi Arabia has been producing around 9.8 million barrels per day, carrying the bulk of cuts that were agreed upon by OPEC members and other major oil producers, namely Russian Federation, to stave off an oversupply in the market that would further push prices down.

by | March 11, 2020 | 11:55

Massimiliano Panarari, a communications consultant and columnist for La Stampa daily, said he believed Italians would comply with the measures, citing the smoking ban as evidence that even notoriously individualistic Italians can adopt a "collective psychology" and enact radical change in their behaviour overnight.

by | March 11, 2020 | 05:11

Russia returned serve nearly immediately, with Russian Energy Minister Alexander Novak saying his country's oil producers could lift production by 500,000 barrels per day, boosting Russia's daily output to 11.8 million barrels - a record for Russia.

by | March 10, 2020 | 23:00

Many airlines have suspended or canceled flights amid a surge in coronavirus cases, reports Reuters . "It makes no sense whatsoever under these unique and challenging circumstances to force airlines to fly empty aircraft, wasting money and fuel and creating carbon emissions".

by | March 10, 2020 | 22:09

Mumbai: The rupee on Monday slipped past the 74-level against the United States dollar to settle at 74.14 (provisional), down 27 paise tracking heavy selling in domestic equity market amid rising concerns over coronavirus-led economic slowdown.

by | March 10, 2020 | 15:55

Qantas will suspend its Brisbane-San Francisco and Melbourne-San Francisco routes and delay the launch of Brisbane-Chicago flights. This approach results in eight of the airline's largest aircraft, the Airbus A380, grounded until mid-September.

by | March 10, 2020 | 14:56

In Chennai , a litre of petrol will cost ₹73.02 per litre whereas diesel is now priced at ₹66.48 per litre. With global crude prices seeing one of the biggest single-day fall since the Gulf War in 1991 on Monday, domestic petrol and diesel prices are likely to decline in the near future.

by | March 10, 2020 | 14:37

A similar warning is in place for the north of England, including the cities of Leeds, Bradford, Wakefield and Huddersfield, with a projected 50mm of rain - a little under half the monthly average for March - due to fall. Maximum temperatures 10 to 14 Celsius, but turning colder later, as winds veer westerly, later easing. Wednesday will see sunny spells and scattered showers.

by | March 10, 2020 | 09:53

Over the last month, the stock price for Carnival Corp., owner of Princess Cruises, has declined almost 35%. The ship is carrying 3,500 people, including 237 Canadians, and it's expected to dock in Oakland on Monday. A Montreal couple from Pointe-Claire, set to return to Canada overnight Monday after getting stuck on another quarantined cruise ship amid the spread of the novel coronavirus, COVID-19 , is praising the government's handling of the situation.

by | March 10, 2020 | 03:55

Facebook too is following the same route and has asked its employees in the Seattle area to work from home till the end of this month. As of Thursday, there are 158 cases of coronavirus and 11 deaths from coronavirus-related illnesses in the United States.

by | March 10, 2020 | 02:44

There has never been a time since the CDC developed the lab test that any public health official in the United States, who needed to get somebody tested for the novel coronavirus, has been unable to get that person tested through the CDC's test in Atlanta.

by | March 10, 2020 | 02:00

Sunday night, it was around $33/b. "As the spread of the coronavirus induces panic on markets, oil prices have been walloped and motorists should avoid filling up as the plummet in oil prices starts showing up at their local gas station in the days ahead", Patrick DeHaan, head of petroleum analysis for GasBuddy , said in the press release.

by | March 09, 2020 | 21:21

The price of oil sank almost 20% after Russian Federation refused to roll back production in response to falling demand and Saudi Arabia signaled it will ramp up its own output. According to the stock exchange, "A market-wide trading halt can be triggered if the S&P 500 Index declines in price as compared to the prior day's closing price of that index".

by | March 09, 2020 | 16:35

The yield on the 10-year Treasury note plunged to 0.49%. The price war caused about a 25% fall in crude prices, to the lowest level in nearly 30 years, and the US dollar fell as oil is priced and traded globally in dollars. Other Middle East markets also fell as the new coronavirus affected global energy prices and Opec failed to make a production cut deal with Russian Federation.

by | March 09, 2020 | 15:54

Saudi Arabia slashed its official prices by the most in at least 20 years over the weekend and signaled to buyers it would ramp up output - an unambiguous declaration of intent to flood the market with crude. Brent crude briefly dipped below $10 a barrel when the kingdom had a showdown with Venezuela in the late 1990s. Exxon requires oil prices of about $74 a barrel to cover its costs while Shell needs $65 a barrel to break even, the analysts said.

by | March 09, 2020 | 12:42

Dr. Deena Hinshaw, chief medical officer of health, announced Friday a new presumptive case of the virus - a man in his 40s in the Edmonton area who had recently travelled on business to Michigan, Illinois and Ohio. The Mississauga couple had been aboard the Grand Princess , the cruise ship now being held off the coast of California because people on a previous cruise out of San Francisco have been diagnosed with COVID-19.

by | March 09, 2020 | 12:29

The ED official said during searches a lot of incriminating documents were found and the agency grilled him on his links with DHFL promoters and other companies. It was also alleged that Yes Bank did not initiate action to recover the loans extended to DHFL. The ED is also probing the alleged fraud in the Employees Provident Fund in the Uttar Pradesh Power Corporation Ltd.

by | March 09, 2020 | 05:58

The Hill and CNBC are among the outlets who report that the airline will cut about 10 percent of its USA flights and 20 percent of global flights in April and May. In one effort to win over hesitant travelers, USA airlines have suspended rebooking fees for new ticket reservations. Airlines are also getting hit flight cancellation to Asia.

by | March 09, 2020 | 04:14

The coffee chain is eliminating the actual Roll Up the Rim cups to spare its employees from handling the millions of torn-off prize tabs that change hands during the annual campaign. said in an interview on Saturday. In Canada, 57 cases have been reported so far, with no deaths as of yet. There are 49 cases of the virus in Canada, with 21 of them in British Columbia.

by | March 08, 2020 | 22:07

Apple's campus is located in Cupertino, California, United States of America. Apple's annual Worldwide Developers Conference ( WWDC ). slated to happen in June, could be under threat due to the ongoing Coronavirus outbreak. An Apple spokesperson was not immediately available for comment to Cult of Mac . The novel Coronavirus outbreak (COVID-19) is affecting supply chains and disrupting the tech industry badly.

by | March 08, 2020 | 20:00

Customers who do bring in their reusable cups or mugs from home will still receive a 10-cent discount but their beverage will be served in a single-use cup instead. This is just the latest corporate response to the global spread of the coronavirus . The company says this is because all ceramic mugs are washed in "high-pressure sanitizers".