by | March 17, 2020 | 16:28

The S&P 500 had fallen 12 percent in the last trading session, its biggest drop since "Black Monday" 30 years ago, as a series of emergency central bank rate cuts globally only added to the recent sense of investor panic. "Until we see a shock-and-awe fiscal package from the United States that backstops the economy - and that's not a given at all - it is impossible to make a recovery case for equities", Oanda Asia-Pacific senior market analyst Jeffrey Halley told The Business Times .

by | March 17, 2020 | 10:21

Between 7am and 8am, only those with a relevant government-issued concession card will be able to access the supermarket. Coles said the decision to temporarily stop taking click-and-collect orders was "due to lower product availability in stores".

by | March 17, 2020 | 07:10

The S&P 500 plunged 8% at the open to trigger an automatic 15-minute trading halt on the three main US stock indexes, marking the third emergency pause on Wall Street in six days. Heavyweights Apple Inc, Microsoft Corp, and Facebook Inc fell at least 7% and were the biggest drags on the S&P 500. In Europe, the Stoxx 600 closed down 4.9pc.

by | March 17, 2020 | 06:25

Although the USA has always had positive interest rates , other countries have experimented with sending rates into negative territory in hopes of staving off a looming global slowdown. President Donald Trump has urged the Fed to consider cutting rates below zero, but Powell said the Fed isn't considering that now. "The new pricing and maturity offerings will remain in place as long as appropriate to support the smooth functioning of USA dollar funding markets", the joint statement said.

by | March 17, 2020 | 03:59

The new job openings positions include delivery drivers and warehouse workers, who pack and ship orders to shoppers, Amazon said . "We are seeing a significant increase in demand, which means our labor needs are unprecedented for this time of year", Dave Clark, who oversees Amazon's warehouse and delivery network, wrote in a blog post .

by | March 17, 2020 | 02:54

The Reserve Bank said on Monday that the cash rate will remain at 0.25% for at least a year. But he said the move was also meant to show that the RBNZ was not at this point contemplating negative interest rates , even as the policy options for central banks dwindle globally.

by | March 16, 2020 | 23:42

The extent of the action, taken ahead of the Fed's regularly scheduled meeting that had been set for Tuesday and Wednesday, signaled to some investors that the central bank was very concerned about the economy. Shares in holiday firm Tui sank more than 27 percent after it said it would suspend the "majority" of its operations. Nikkei futures fell 6%. "It's the most important variable in the market by a mile", said Sevens Report Research founder Tom Essaye via email.

by | March 16, 2020 | 21:24

Canada ramped up its response to the coronavirus on Friday, advising citizens against non-essential foreign travel and promising "significant" financial aid for Canadians, which Finance Minister Bill Morneau said would be presented next week.

by | March 16, 2020 | 19:39

French officials also fined two Apple wholesalers a total of 139 million euros, or roughly $155 million. As well as striking deals with premium resellers, the company stopped resellers from being able to lower their prices, keeping pricing identical across nearly half of the retail market, according to The Verge .

by | March 16, 2020 | 15:29

The Fed chairman said Congress and the White House will ultimately have to address the health implications of the crisis, adding that only fiscal policy can "direct relief to particular populations and groups". Lower rates can also give home buyers more purchasing power, making it easier for them to afford a more expensive house. This morning, the Bank of Canada, the Bank of England , the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank took ...

by | March 16, 2020 | 13:44

The collapse in activity affected every sector of the world's second biggest economy, as the epidemic and draconian measures created to contain it delivered an unprecedented shock that is now being replicated around the world. The quick unfold of the virus world wide can also be sparking fears of a world recession that might dampen demand for Chinese language items. There are now more cases of new coronaviruses reported outside of mainland China than inside, according to figures from ...

by | March 16, 2020 | 13:27

With Gates stepping down from the board there will be an indirect effect on the company's productivity, functionality and the overall image, however, will it be for the good or not, It is something that time will tell. He quit the duty of chairman at the exact same time Nadella ended up being Microsoft's 3rd Chief Executive Officer in 2014 . With his moms and dads' true blessing, Gates quit of Harvard to begin "Micro-soft" with his late childhood years close friend Allen.

by | March 16, 2020 | 07:23

On Friday, major USA airlines confirmed they had been in talks with the White House and Congress about financial assistance. The message from Delta CEO Ed Bastian cited a number of unfortunate circumstances that have converged to create a ideal storm of demand fall-off, including the conference and event cancellations as well as restrictions on travel imposed by businesses and some governments, as with President Donald Trump's spectacularly messy announcement of a ban on travel from ...

by | March 16, 2020 | 06:57

We will continue to pay our store teams during this time. Online shopping is still available. Workers will still be paid in full while stores are shut, Nike confirmed. Earlier this month Nike had temporarily closed its European headquarters in Netherlands after an employee was infected with the coronavirus . Stores will not reopen until at least March 28 and because the situation is complex and evolving rapidly, our plans may change.

by | March 16, 2020 | 03:31

In the wake of the COVID-19 pandemic , rideshare companies Lyft and Uber say they are "taking action" to ensure drivers and riders are staying healthy. Shares of Uber and Lyft have dropped amid a wider market turndown as buyers flee shares that could possibly be particularly susceptible to the fallout from the coronavirus outbreak.

by | March 16, 2020 | 02:52

US stock futures fell sharply after the Federal Reserve slashed interest rates and more companies and governments took action over the weekend to shut down European and American society in the face of the growing virus outbreak. He has been under heavy fire from President Trump to do more. The Fed moves comes after one of the worst weeks for USA stock markets in decades. Churns in the Treasury market pushed the Fed to restart its quantitative easing program with purchases of U.S.

by | March 16, 2020 | 02:12

President Donald Trump . Bolsonaro is seen shaking Trump's hand. On Thursday, a source close to Trump revealed that he has reportedly been telling associates about his concerns on the interactions he had with people who has since tested positive of the novel virus.

by | March 16, 2020 | 01:29

The remarks come after US President Donald Trump said that " Google is helping to develop a website that's going to be very quickly done" and that about 1,700 engineers are involved in the process. The key takeaways from Trump's statement are: firstly, Google is not developing a website , Verily is. Google's handling of health information has raised privacy concerns in the past.

by | March 15, 2020 | 16:27

The downgraded forecast was due to the potential economic impact of the coronavirus outbreak, she added. As Lagarde did on Thursday, Draghi regularly called for governments to take action to resolve the euro zone's problems rather than relying on the ECB's largesse, to little effect.

by | March 15, 2020 | 16:22

In the United States, Royal Caribbean International has suspended its cruises into and out of U.S. ports until April 11. Norwegian Cruise Line Holdings Ltd., which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, said it was suspending all cruise voyages embarking between March 13 and April 11.

by | March 15, 2020 | 13:58

Spain's measures to date, though, had fallen short of those ordered by Italy, the worst-hit European country, where the number of cases climbed to over 17,600, with 1,266 deaths. France pressed forward with plans for nationwide municipal elections on Sunday however ordered particular measures to maintain individuals at a secure distance and to sanitize surfaces.

by | March 15, 2020 | 10:24

Bad loans constitute as much as 18.87 per cent of total advances as against 2.10 per cent past year. Gross non-performing assets (NPAs) saw a sharp rise to 18.87 per cent compared with a meagre 2.10 per cent in the same period of FY19. This is lower than Rs 7,250 crores of investment commitment SBI had earlier disclosed to exchanges. Seven other private banks will also be chipping in.

by | March 15, 2020 | 09:54

On Thursday, not only did USA stocks plunge again but there were reports from trading desks that many assets that are normally liquid, including Treasuries, were freezing up, with securities not trading widely. Earlier in the day, the European Central Bank implemented new targeted stimulus measures to cushion the impact of the virus outbreak on the economy.

by | March 15, 2020 | 06:46

The decision to raise the duties was taken in view of the tight fiscal situation and the recent decline in crude oil prices, sources said. Officials reckon the higher fuel tax will yield approximately Rs 2,000 crore in the fortnight till March 31, when the current financial year (2019-20) ends.

by | March 15, 2020 | 06:19

In announcement, the company said " we understand this is an unprecedented step, but these are unprecedented times ". The COVID-19 or epidemic, better known as the coronavirus , has spread to every continent since its appearance in Wuhan, China in late 2019, killing more than 3,000 people.