Money
Amazon increases paid sick leave due to coronavirus
- March 12, 2020
The fund is intended for businesses with fewer than 50 employees or less than $7 million in annual revenue, and with a physical presence within a few blocks of Amazon's Regrade and South Lake Union office buildings. Uber, Salesforce, Cisco , Microsoft , Lyft , Square , Twitter , Facebook, Google, and Apple , have all made commitments to pay hourly and other contingent workers impacted the COVID-19 outbreak. (more...)
- March 12, 2020
The fund is intended for businesses with fewer than 50 employees or less than $7 million in annual revenue, and with a physical presence within a few blocks of Amazon's Regrade and South Lake Union office buildings. Uber, Salesforce, Cisco , Microsoft , Lyft , Square , Twitter , Facebook, Google, and Apple , have all made commitments to pay hourly and other contingent workers impacted the COVID-19 outbreak. (more...)
'Families are going to lose loved ones,' says Boris Johnson
- March 12, 2020
He announced new advice for people aged over 70 - that they should not go on cruises - and said schools should not take pupils on trips overseas. "Owing to the lack of immunity, this disease is more risky and it's going to spread further". The peak of the epidemic is likely several weeks away, and the goal is less to minimize the number of cases than to ensure that they're spread over a longer period of time so the health system can cope. (more...)
- March 12, 2020
He announced new advice for people aged over 70 - that they should not go on cruises - and said schools should not take pupils on trips overseas. "Owing to the lack of immunity, this disease is more risky and it's going to spread further". The peak of the epidemic is likely several weeks away, and the goal is less to minimize the number of cases than to ensure that they're spread over a longer period of time so the health system can cope. (more...)
Google recommends all North America employees to work from home
- March 12, 2020
Previously, only Seattle office employees had been asked to work from home, but that request has now been expanded to all North American offices. A number of large tech companies had already instituted similar policies in the northwest after an outbreak began in Washington, and Google had already given a similar guideline to Bay Area employees. (more...)
- March 12, 2020
Previously, only Seattle office employees had been asked to work from home, but that request has now been expanded to all North American offices. A number of large tech companies had already instituted similar policies in the northwest after an outbreak began in Washington, and Google had already given a similar guideline to Bay Area employees. (more...)
European Stock Markets End Tuesday With Moderate Losses After Disastrous Monday
- March 12, 2020
Many strategists and economists expect the Federal Reserve to cut USA interest rates to zero as part of a global move to provide strength and liquidity to the financial system. Benchmark Brent crude futures rose 8.3 per cent to settle at US$37.22 (RM158) a barrel, roughly half this year's peak, reached in January. "The collapse in oil prices and associated credit concerns for producers have added another negative layer to a market already on its knees over the COVID-19 outbreak", said ... (more...)
- March 12, 2020
Many strategists and economists expect the Federal Reserve to cut USA interest rates to zero as part of a global move to provide strength and liquidity to the financial system. Benchmark Brent crude futures rose 8.3 per cent to settle at US$37.22 (RM158) a barrel, roughly half this year's peak, reached in January. "The collapse in oil prices and associated credit concerns for producers have added another negative layer to a market already on its knees over the COVID-19 outbreak", said ... (more...)
Australia unveils $11.4 bil stimulus to curb coronavirus impact
- March 12, 2020
AEDT-the first prime minister to do so since Julia Gillard laid out her government's climate plan in 2011. "We'll be as supportive as possible", he said at a media conference in Brisbane. "And we're backing businesses to keep investing by increasing tax incentives to help them buy new equipment now". "This plan is about ensuring the Australian economy bounces back stronger on the other side of this". (more...)
- March 12, 2020
AEDT-the first prime minister to do so since Julia Gillard laid out her government's climate plan in 2011. "We'll be as supportive as possible", he said at a media conference in Brisbane. "And we're backing businesses to keep investing by increasing tax incentives to help them buy new equipment now". "This plan is about ensuring the Australian economy bounces back stronger on the other side of this". (more...)
GBPUSD sees short-lived drop after BOE surprise rate cut
- March 12, 2020
Britain unveiled a 30 billion-pound ($39 billion) stimulus plan on Wednesday to help the economy as it faces the risk of a coronavirus recession, hours after the Bank of England slashed interest rates in a double-barrelled response to the crisis. (more...)
- March 12, 2020
Britain unveiled a 30 billion-pound ($39 billion) stimulus plan on Wednesday to help the economy as it faces the risk of a coronavirus recession, hours after the Bank of England slashed interest rates in a double-barrelled response to the crisis. (more...)
Most Employers Not Hiring in Second Quarter of 2020: ManpowerGroup
- March 12, 2020
This is different from the national average, which pegs employers as mostly being cautiously optimistic when it comes to their hiring over the next quarter. While the wholesale & retail trade sector forecasted an outlook of +9%. The strongest hiring intentions are anticipated in the USA (+19%), Brazil (+14%) and Colombia (+11%). (more...)
- March 12, 2020
This is different from the national average, which pegs employers as mostly being cautiously optimistic when it comes to their hiring over the next quarter. While the wholesale & retail trade sector forecasted an outlook of +9%. The strongest hiring intentions are anticipated in the USA (+19%), Brazil (+14%) and Colombia (+11%). (more...)
Stocks plunge as coronavirus declared a pandemic
- March 12, 2020
European markets received an earlier a bump Wednesday after the Bank of England slashed interest rates to a record low of 0.25% to cushion the British economy from coronavirus fallout. The Dow Jones Industrial Average closed down 1,464.94 points or 5.9 percent to 23,553.22, extending a three-week selloff to officially land the index in "bear market" territory defined by a drop of 20 percent or more from recent highs. (more...)
- March 12, 2020
European markets received an earlier a bump Wednesday after the Bank of England slashed interest rates to a record low of 0.25% to cushion the British economy from coronavirus fallout. The Dow Jones Industrial Average closed down 1,464.94 points or 5.9 percent to 23,553.22, extending a three-week selloff to officially land the index in "bear market" territory defined by a drop of 20 percent or more from recent highs. (more...)
New York Fed increases repo support to keep markets running smoothly
- March 12, 2020
The New York Fed's latest move increases daily repurchase agreements or repos through April 13, and it will continue to offer US$45 billion in two-week repos twice weekly for the coming month. "The agencies recognize the potential impact of the coronavirus on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision", said the regulators, including the Federal Reserve (Fed) and ... (more...)
- March 12, 2020
The New York Fed's latest move increases daily repurchase agreements or repos through April 13, and it will continue to offer US$45 billion in two-week repos twice weekly for the coming month. "The agencies recognize the potential impact of the coronavirus on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision", said the regulators, including the Federal Reserve (Fed) and ... (more...)
President Trump to speak in prime time address responding to the Coronavirus
- March 12, 2020
Fauci told a House Oversight and Reform Committee hearing . "This is not a financial crisis". Many remain to be convinced, pointing to the fact that Congress just passed an $8.3billion (£6.35million) coronavirus aid bill. McConnell said. Other Republicans said they would look at the possibility. Graham, a South Carolina Republican, said reaction to the idea of waiving payroll taxes was "mixed". (more...)
- March 12, 2020
Fauci told a House Oversight and Reform Committee hearing . "This is not a financial crisis". Many remain to be convinced, pointing to the fact that Congress just passed an $8.3billion (£6.35million) coronavirus aid bill. McConnell said. Other Republicans said they would look at the possibility. Graham, a South Carolina Republican, said reaction to the idea of waiving payroll taxes was "mixed". (more...)
Google asks all North American employees to work from home
- March 12, 2020
Alphabet employs almost 120,000 full-time workers, according to its 2019 annual report . Google is asking all of its North American employees to work from home if they can in an attempt to slow the spread of the virus that causes COVID-19. (more...)
- March 12, 2020
Alphabet employs almost 120,000 full-time workers, according to its 2019 annual report . Google is asking all of its North American employees to work from home if they can in an attempt to slow the spread of the virus that causes COVID-19. (more...)
Global stocks steady after plunge on virus, oil crash
- March 11, 2020
A 4% rally in European stocks got zapped. "It's market March Madness at the moment, complete with surprising losses, upsets, and comebacks", said Mike Loewengart, managing director of investment strategy at E*Trade Financial. The Nasdaq Composite jumped 71 points, or 1%, at 8,021. The biggest factor behind the recent sharp drop in stocks has been fears that the coronavirus outbreak could severely crimp the global economy. (more...)
- March 11, 2020
A 4% rally in European stocks got zapped. "It's market March Madness at the moment, complete with surprising losses, upsets, and comebacks", said Mike Loewengart, managing director of investment strategy at E*Trade Financial. The Nasdaq Composite jumped 71 points, or 1%, at 8,021. The biggest factor behind the recent sharp drop in stocks has been fears that the coronavirus outbreak could severely crimp the global economy. (more...)
Coronavirus: Two banks offer mortgage deferrals to struggling customers
- March 11, 2020
The British examples follow those in Italy , where more substantial and widespread repayment holidays have been declared because of the more significant effects of the virus. Because they are expensive, the measures raise practical questions - above all, how will the banks establish that customers are truly affected by the virus rather than other factors? Before taking up any such help, customers, business or personal, would be wise to get it in writing from the bank that it won't harm ... (more...)
- March 11, 2020
The British examples follow those in Italy , where more substantial and widespread repayment holidays have been declared because of the more significant effects of the virus. Because they are expensive, the measures raise practical questions - above all, how will the banks establish that customers are truly affected by the virus rather than other factors? Before taking up any such help, customers, business or personal, would be wise to get it in writing from the bank that it won't harm ... (more...)
Stimulus hopes pull oil prices up 7% after crash
- March 11, 2020
Others have dubbed this move as "the oil market equivalent of a declaration of war". But in response, the Saudi energy minister told Reuters he did not see a need to hold an OPEC + meeting in May-June if there was no agreement on what measures should be taken to deal with the impact of the coronavirus outbreak on oil demand and prices. (more...)
- March 11, 2020
Others have dubbed this move as "the oil market equivalent of a declaration of war". But in response, the Saudi energy minister told Reuters he did not see a need to hold an OPEC + meeting in May-June if there was no agreement on what measures should be taken to deal with the impact of the coronavirus outbreak on oil demand and prices. (more...)
Coronavirus: Bank of England makes emergency interest rate cut
- March 11, 2020
The Bank of England slashed interest rates by 50 basis points, to 0.25%, and introduced a new funding scheme for loans to SMEs, in a move that could see banks provide more than £100bn in credit to businesses affected by the fallout. Meanwhile, Manchester City's Premier League match against Arsenal on Wednesday has been postponed as "a precautionary measure" because of the outbreak. (more...)
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- March 11, 2020
The Bank of England slashed interest rates by 50 basis points, to 0.25%, and introduced a new funding scheme for loans to SMEs, in a move that could see banks provide more than £100bn in credit to businesses affected by the fallout. Meanwhile, Manchester City's Premier League match against Arsenal on Wednesday has been postponed as "a precautionary measure" because of the outbreak. (more...)
Coronavirus in Italy - whole country on lockdown
- March 11, 2020
As a result, most carriers with routes towards Italy have modified their flight plans, by either reducing capacity or suspending the routes. Public gatherings including sports events are banned, and schools and universities are closed. But even if they don't, there won't be much to do in the cities. Italian government insists food shops will remain open. . Pope Francis also seemed to muddy the waters, holding a mass in which he urged priests to go out and visit the sick - something ... (more...)
- March 11, 2020
As a result, most carriers with routes towards Italy have modified their flight plans, by either reducing capacity or suspending the routes. Public gatherings including sports events are banned, and schools and universities are closed. But even if they don't, there won't be much to do in the cities. Italian government insists food shops will remain open. . Pope Francis also seemed to muddy the waters, holding a mass in which he urged priests to go out and visit the sick - something ... (more...)
Oil prices will rebound in several months - Russian energy minister
- March 11, 2020
Saudi Aramco said on Tuesday it will boost its supply of crude oil to 12.3 million barrels per day in April. When the price last plunged in 2014, Wall Street bailed many of them out - something it will not be likely to do this time around. (more...)
- March 11, 2020
Saudi Aramco said on Tuesday it will boost its supply of crude oil to 12.3 million barrels per day in April. When the price last plunged in 2014, Wall Street bailed many of them out - something it will not be likely to do this time around. (more...)
Saudi Arabia increases oil output to record high
- March 11, 2020
And Rafael Quiroz, a professor at the Central University of Venezuela and an oil industry expert, warned that we may witness an even bigger oil price tumble, "especially if Saudi Arabia keeps its word and opens its taps even more". economy given that the shale industry, for example, has accounted for as much as 10 percent of economic growth in recent years and the broader oil and natural gas industry supports more than 10 million jobs". (more...)
- March 11, 2020
And Rafael Quiroz, a professor at the Central University of Venezuela and an oil industry expert, warned that we may witness an even bigger oil price tumble, "especially if Saudi Arabia keeps its word and opens its taps even more". economy given that the shale industry, for example, has accounted for as much as 10 percent of economic growth in recent years and the broader oil and natural gas industry supports more than 10 million jobs". (more...)
Tesla has built its 1 millionth auto, Musk says
- March 11, 2020
Tesla CEO Elon Musk took to Twitter late on Monday to congratulate the team on Tesla building its one-millionth vehicle. In a post on its Weibo account last week, Tesla said the swap was due to a lack of supply of the HW3.0 chips and the company would replace the chip for customers who received cars with the HW2.5 systems. (more...)
- March 11, 2020
Tesla CEO Elon Musk took to Twitter late on Monday to congratulate the team on Tesla building its one-millionth vehicle. In a post on its Weibo account last week, Tesla said the swap was due to a lack of supply of the HW3.0 chips and the company would replace the chip for customers who received cars with the HW2.5 systems. (more...)
Global stocks recover after coronavirus uncertainty causes worst day since 2008
- March 11, 2020
The US wasn't alone in having its bottom drop out - markets around the world were feeling the sting, from Greece - hit the worst with a 13 percent drop - to China, which got off comparatively easy at -3 percent. "When there's panic, there tends not to be accurate pricing of assets", Kristina Hooper, Invesco's chief global market strategist, said in an interview at Bloomberg's NY headquarters. (more...)
- March 11, 2020
The US wasn't alone in having its bottom drop out - markets around the world were feeling the sting, from Greece - hit the worst with a 13 percent drop - to China, which got off comparatively easy at -3 percent. "When there's panic, there tends not to be accurate pricing of assets", Kristina Hooper, Invesco's chief global market strategist, said in an interview at Bloomberg's NY headquarters. (more...)
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