Money


Citroen Ami electric urban mobility solution unveiled globally Citroen Ami electric urban mobility solution unveiled globally
- March 04, 2020

Don't anticipate to get wherever quick, although: its 6-kW motor provides the 1,070-pound automobile a prime velocity of 28 miles per hour. And because it is a Citroen , there is a nod to the peculiar past of the company: the side windows are opened manually by tilting upwards like the classic 2 CV. (more...)
Robinhood trading app returns after a major technical outage Robinhood trading app returns after a major technical outage
- March 04, 2020

The Robinhood trading app crashed this week during a major USA trading day, preventing customers from making trades as stocks surged, an outage that lasted into Tuesday. "Our systems are now experiencing downtime". Yesterday, Breitbart News reported that the online brokerage platform Robinhood suffered a major outage on Monday that lasted the entire USA trading day preventing customers from making trades as stocks surged. (more...)
Italian tourists test positive for coronavirus in India Italian tourists test positive for coronavirus in India
- March 04, 2020

All of them have been quarantined at various hospitals and quarantine facilities around the country and the government is reportedly working to trace the people who may have come in contact with those infected by the virus. Of these, two were reported from Delhi and the other from the southern state of Telangana. Both had recently travelled overseas, the man in Delhi having come from Italy. (more...)
Coronavirus fears trigger Bank of Canada interest rate cut of 0.5%
- March 04, 2020

Borrowing costs for mortgages, auto loans and other lines of credit are set to head lower after the Bank of Canada cut its key lending rate by half a percentage point. Federal Reserve to its rate as an emergency economic buttress against COVID-19 concerns. "It is likely that as this virus spreads, business and consumer confidence will deteriorate, further depressing activity", the bank said, noting the Canadian dollar and commodity prices have depreciated. (more...)
Sky, Disney agree Disney+ carriage deal Sky, Disney agree Disney+ carriage deal
- March 04, 2020

Despite reports online that Disney Plus UK might launch without access to The Simpsons , it has now been confirmed by Disney itself that Disney+ UK will have more than 600 episodes of the show available to subscribers at launch. That brings the cost down to just £49.99 for 12 months - nearly £22 less you'd pay for a normal month-by-month subscription. Various other movies and TV shows from the Star Wars and Marvel universes are also due to air on Disney+ in the future. (more...)
Japan's central bank vows to ensure stability, jointly combat excess market volatility Japan's central bank vows to ensure stability, jointly combat excess market volatility
- March 04, 2020

The implied yield on USA 10-Year Treasury futures traded below 1% for the first time. The share markets are recovering slightly after the Bank of Japan has sent a calming message. "Nobody knows how this is going to play out", said Ed Clissold, chief USA strategist at Ned Davis Research. "I can't help but feel that a strong relief rally at the start of the week when, the reality is, there's nothing really to be relieved about, is just putting us unnecessarily back into unsafe territory", ... (more...)
Trump attacks Federal Reserve’s Powell over coronavirus response Trump attacks Federal Reserve’s Powell over coronavirus response
- March 04, 2020

On Wall Street , the S&P 500 future rose 1.5% and that for the Dow Jones Industrial Average was up 1.6%.On Tuesday, the Dow sank 2.9% and the Nasdaq composite fell 3%. "The spread of the coronavirus has brought new challenges and risks". Mester said in an interview with CNBC that she supported the central bank's decision to cut interest rates by 50 basis points on Tuesday, adding that the risks around the outlook had risen significantly. (more...)
Aussie Extends Gains After Fed Rate Cut, Upbeat GDP Aussie Extends Gains After Fed Rate Cut, Upbeat GDP
- March 04, 2020

Interest rates fell three times past year as the RBA tried to kick-start an already sluggish Australian economy that was in the midst of a housing downturn, with residential construction tumbling after a record building boom. All 26 home loan lenders who cut their interest rates following the RBA's announcement yesterday have cut in full. As other banks and lenders join the likes of 86 400 , Athena , Commonwealth Bank, Homestar , loans.com.au, Reduce and Westpac in making rate cut ... (more...)
India curbs generic drug exports as virus fears grow India curbs generic drug exports as virus fears grow
- March 04, 2020

The Directorate General of Foreign Trade (DGFT) has restricted export of APIs and formulations like Paracetamol, Tinidazole, Metronidaxole, Vitamins B1, B6, B 12, hormone progesterone, formulations made of Chromaphenicol, formulations made of Ornidazole, among others, a notification dated March 3 said. (more...)
Amazon confirms first coronavirus case among US employees Amazon confirms first coronavirus case among US employees
- March 04, 2020

An Amazon employee from the company's headquarters in Seattle , Washington has reportedly tested positive for the novel coronavirus (COVID-19), after becoming symptomatic last month. It instructs employees experiencing symptoms to stay home and seek medical attention. The company said on Sunday two employees in Milan, Italy, had been infected with the virus and were under quarantine . (more...)
Stocks rise as market attempts to rebound from massive losses last week Stocks rise as market attempts to rebound from massive losses last week
- March 04, 2020

In a surprise announcement on Tuesday, the Fed said that "in light of these risks and in support of achieving its maximum employment and price stability goals", the Federal Open Market Committee (FOMC), the Fed's policy-setting body, made a decision to cut its key interest rate by 0.5 percentage point. (more...)
Walmart Said Working on Amazon Prime Competitor: Walmart Walmart Said Working on Amazon Prime Competitor: Walmart
- March 04, 2020

Delivery Unlimited provides free same-day delivery of online grocery orders from 1,600 participating Walmart stores for a yearly $98 fee. Amazon has more than 150 million Prime members, globally, CNBC reported. Since its debut in 2005, Prime has helped Amazon compete on price with physical retailers, allowing it to grow from an online bookseller to the largest online merchant of a wide range of goods. (more...)
Viral TikTok video shows Jeff Bezos’s net worth with Rice Grains Viral TikTok video shows Jeff Bezos’s net worth with Rice Grains
- March 04, 2020

Yang is a 32-year-old eCommerce consultant and freelancer from Silicon Valley, California. In the video that was uploaded on TikTok, a single grain of rice represents $100,000, in order to demonstrate just how staggering the amount of money Bezos has to his name truly is. (more...)
Coronavirus threat pushes RBA to cut cash rate to historic low
- March 04, 2020

Reserve Bank of Australia governor Philip Lowe said it had taken its decision to support the Australian economy as it responded to the global coronavirus outbreak. The RBA did not provide details of the call, only saying that the government has indicated it would assist areas of the economy most affected by the virus. (more...)
Northeast BC unemployment at 5.1% to end 2019 Northeast BC unemployment at 5.1% to end 2019
- March 04, 2020

That suggests job growth over that period averaged around 170,000 per month instead of 210,000. October and November were both revised down. On a year-over-year percentage-change basis, four of Canada's key job-creation metrics have been: "total" jobs, +1.7% (versus +1.4% in the U.S.); "services-providing" jobs, +2.5% (versus +1.7% in the U.S.); "manufacturing" jobs, -2.3% (versus +0.4% in U.S.); and "construction" jobs, +2.0% (the same rate of increase as in the U.S.). (more...)
G7 top officials prepare to stem economic bleed from coronavirus G7 top officials prepare to stem economic bleed from coronavirus
- March 04, 2020

Markets jumped on the news but quickly pared the gains, and President Donald Trump complained that it wasn't enough. Fed funds futures are pricing about 45 basis points of rate easing by the end of this month. The Fed's move wasn't entirely unexpected. And Fed funds futures had fully-priced in a 50 basis point rate cut from the United States central bank, the Federal Reserve, when its policymakers next met on 18 March to 1.5-1.75%. (more...)
Greece PM rips Turkey as thousands of migrants seek entry into Europe Greece PM rips Turkey as thousands of migrants seek entry into Europe
- March 03, 2020

Mitsotakis had announced his intention to visit the area with Michel in a tweet on Sunday evening, after chairing a meeting of the Government Council on National Security (KYSEA). Turkish President Recep Tayyip Erdogan said on Monday he had refused €1 billion in European aid for holding migrants in Turkey because the EU did not wish to "share the burden". (more...)
Minister in Italy tests positive for coronavirus Minister in Italy tests positive for coronavirus
- March 03, 2020

Lombardy, around Italy's financial capital Milan , is by far with hardest hit, with 38 casualties. Italy has 2,502 coronavirus cases in all. Since the start of the epidemic, 1,694 people have tested postive for COVID-19 including those who have died and those who have recovered, Angelo Borrelli told a press briefing. (more...)
Federal Reserve cuts rates in emergency move to stem coronavirus impact Federal Reserve cuts rates in emergency move to stem coronavirus impact
- March 03, 2020

The Fed's decision to cut interest rates before its next scheduled policy meeting on March 17-18 reflects the urgency with which the Fed feels it needs to act in order to prevent the possibility of a global recession. We get that. We don't think we have all the answers. "I'm a little surprised". Crude futures spiked after the financial stimulus but quickly changed course as traders viewed the Fed's move as a signal that the situation was more serious than many had thought, said Bob Yawger, ... (more...)
United Kingdom trade talks kick off amid threats and deadlines United Kingdom trade talks kick off amid threats and deadlines
- March 03, 2020

A British government analysis published Monday shows the British economy will benefit from a 3.4-billion-pound boost, with the new trade deal increasing transatlantic trade flows by 15.3 billion pounds (19.58 billion dollars). Under this, real wages for workers were expected by the Department for International Trade (DIT) to increase by 0.2%, or £1.8 billion. Many economists say those figures pale in comparison to the negative economic impact of leaving the EU. (more...)

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