Money


Bill Gates Has Left Microsoft's Board Bill Gates Has Left Microsoft's Board
- March 16, 2020

Gates was also Microsoft's chairman of the board until February 2014, when current CEO Satya Nadella took over the mantel from Ballmer. Regularly listed among the world's richest people, William H. Gates will continue to work with Buffet as they are both trustees of the Bill & Melinda Gates Foundation and co-founders of The Giving Pledge . Rather than spending his twilight years on boards, Bill Gates feels his time is better spent solving some of the world's bigger problems. (more...)
WRAPUP 2-China's economy skids as virus immobilises factory, consumer sectors WRAPUP 2-China's economy skids as virus immobilises factory, consumer sectors
- March 16, 2020

The median forecast of analysts polled by Reuters was for a rise of 1.5%, though estimates varied widely. Meanwhile, Fixed Asset Investment YoY stood at -24.5% vs. Previous to a big deterioration within the virus, analysts had predicted a speedy V-shaped restoration for China's economy, just like that seen after the SARS epidemic in 2003-2004. (more...)
Nike closing all U.S. stores for 2 weeks due to coronavirus Nike closing all U.S. stores for 2 weeks due to coronavirus
- March 16, 2020

Nike owns a factory store in Lancaster, which is at the Tanger Outlet Center. Nike and Lululemon operate more than 650 stores in the USA, while Under Armour has almost 190 stores in North America, according to the companies' latest annual reports. (more...)
Stock futures sink after rate cut, new virus restrictions Stock futures sink after rate cut, new virus restrictions
- March 16, 2020

The massive show of financial force, coming as more countries are on lockdown due to the spread of the COVID-19 illness, aims to contain the economic fallout as businesses are forced to shut their doors in an already sluggish global economy. (more...)
White House To Give Update On How To Get Tested For Coronavirus
- March 16, 2020

The official communications handle of Google has tweeted the company's plan of action concerning coronavirus . " Google is helping to develop a website , it's gonna be very quickly done, unlike websites of the past, to determine whether a test is warranted and to facilitate testing at a nearby convenient location", Trump said . (more...)
Fabio Wajngarten, Brazilian president's press secretary, tests positive for coronavirus Fabio Wajngarten, Brazilian president's press secretary, tests positive for coronavirus
- March 16, 2020

Senate Democrats have urged Trump to invoke the Stafford Act and other disaster declaration requests they say would free up more than $42 billion in funding for states available in the Disaster Relief Fund. The testing of Bolsonaro and many in his inner circle has changed the president's tone on a virus that he dismissed on Tuesday as largely a "fantasy". (more...)
European Shares Nudge Higher Despite Investor Disappointment in ECB Rate Decision European Shares Nudge Higher Despite Investor Disappointment in ECB Rate Decision
- March 15, 2020

However, the central bank did announce measures to support bank lending and expanded its asset purchase program by 120 billion Euros ($135.28 billion). Securing banks against credit risks would be a task for states, not monetary policy, he said. On Friday, the ECB's Irish Chief Economist Philip Lane issued a blog, itself a first, in which he explained the bank's decisions which stood in stark contrast the dramatic actions of the Federal Reserve that went early with a massive interest rate as ... (more...)
President Trump halts all outbound cruises for 30 days President Trump halts all outbound cruises for 30 days
- March 15, 2020

However, Trump was not mentioned in CLIA's statement. Viking has suspended all river and ocean sailings in light of the coronavirus outbreak . The general policy has been for cruise lines to return a full refund of what you've paid OR give a cruise credit valued at more than what you paid for a future cruise. (more...)
Delta cuts capacity deeper than post-9/11 levels due to coronavirus Delta cuts capacity deeper than post-9/11 levels due to coronavirus
- March 15, 2020

The message from Delta CEO Ed Bastian cited a number of unfortunate circumstances that have converged to create a flawless 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 Europe earlier this week. (more...)
Spain implements nationwide lockdown as coronavirus cases spike Spain implements nationwide lockdown as coronavirus cases spike
- March 15, 2020

Italy is now the hardest hit, with more than 17,600 infections and more than 1,000 deaths. A total 120 people have died, and 189 have been declared as recovered. President Emmanuel Macron committed to the vote last night as he placed the country in lockdown and closed all "non-essential public places" including cafes, bars and restaurants. (more...)
Australian PM calls for coronavirus calm in speech to nation Australian PM calls for coronavirus calm in speech to nation
- March 15, 2020

Australia clocked up 238 cases of COVID-19 on Saturday after three South Australians, three West Australians, 13 Victorians, two Tasmanians and 20 people in NSW tested positive for the coronavirus. "Formula 1 and the FIA, with the full support of the Australian Grand Prix Corporation (AGPC) have therefore taken the decision that all Formula 1 activity for the Australian Grand Prix are cancelled". (more...)
Yes Bank moratorium to end soon, says FM Yes Bank moratorium to end soon, says FM
- March 15, 2020

Under the plan, domestic investors including SBI , HDFC Ltd, ICICI bank Ltd, Kotak Mahindra Bank Ltd, Bandhan Bank Ltd, Federal bank Ltd and IDFC First bank have committed to invest ₹11,200 crore into the bank. The rescue plan is aimed at restoring customers' trust and minimizing the threat of withdrawals after restrictions are lifted. As per the final reconstruction plan , shareholders of the bank have been barred from selling more than 25 of their current holding for 3 years. (more...)
CPI(M) condemns hike in fuel prices, says it's injustice CPI(M) condemns hike in fuel prices, says it's injustice
- March 15, 2020

The gains during the remaining three weeks of the current fiscal would be less than Rs 2,000 crore. The deficit surpassed the revised estimates for FY20 by 28.5 per cent as of January. The special excise duty for petrol now stands at Rs. 8 per liter and Rs. 4 per liter for diesel. "This also helps the state shore up some revenue for other useful expenditures", said Professor N.R. (more...)
Twitter staff ordered mandatory work from home amid coronavirus outbreak Twitter staff ordered mandatory work from home amid coronavirus outbreak
- March 15, 2020

Our top priority remains the health and safety of our Tweeps, and we also have a responsibility to support our communities, those who are vulnerable, and the healthcare providers who are on the front lines of this pandemic. Twitter stated it'll cover additional daycare expenses parents could have if their usual daycares close because of COVID-19. At the beginning of the month Twitter made working from home mandatory in Hong Kong, Japan and South Korea, but given the rapid developments ... (more...)
House approves aid package after Trump declares national emergency House approves aid package after Trump declares national emergency
- March 15, 2020

The virus has infected over 100,000 people in more than 100 countries, causing no less than 5000 deaths worldwide. The action comes after President Donald Trump declared the outbreak a national emergency , freeing up money and resources to fight it, then threw his support behind the congressional package. (more...)
Overall Fed Temporary Liquidity Rises to $283.1 Billion Overall Fed Temporary Liquidity Rises to $283.1 Billion
- March 15, 2020

An additional $ 500 billion will be available on Monday. In a note to investors, analysts at Bank of America said that the US bond market has "materially deteriorated over recent days" and now "requires a rapid and large near-term policy response from the USA treasury or Federal Reserve". (more...)
Chinese billionaire Jack Ma offers US virus test kits masks Chinese billionaire Jack Ma offers US virus test kits masks
- March 15, 2020

Chinese billionaire along with Alibaba co-founder Jack Ma has vowed to contribute 2 million protective masks for supply across Europe, using a very first consignment arriving in Belgium overdue on Friday. As of Thursday, there were more than 1,200 cases of coronavirus reported in the United States and 36 deaths, according to the Centers for Disease Control and Prevention. (more...)
TSX, Wall Street surge at the start of trading TSX, Wall Street surge at the start of trading
- March 15, 2020

Investors are hopeful as Congress appears to be getting closer to passing a measure to help cushion the blow of the coronavirus pandemic, which has jammed up or shut down many parts of the USA economy. But as the damage and disruptions from the outbreak mount, the combined health crisis and the market retreat have heightened fears of a global recession. (more...)
Twitter has made working from home mandatory for all employees Twitter has made working from home mandatory for all employees
- March 15, 2020

The San Francisco-based company has more than 35 offices around the world, with its Hong Kong, Japan and South Korea locations already put on mandatory remote work due in part to government restrictions. Amazon has recommended that employees in its New York City and New Jersey offices work from home , as well as asking its staff in the Seattle area and Italy to work remotely, while Apple has recommended its Silicon Valley staff work from home and Facebook has given the same advice to its ... (more...)
Royal Caribbean, Norwegian cruise lines suspend cruises for a month
- March 15, 2020

Trump said that Carnival , Royal Caribbean , Norwegian and MSC Cruises all agreed to the suspensions. Norwegian Cruise Line is also suspending operations for it's three brands: Norwegian Cruise Line , Oceania Cruises and Regent Seven Seas Cruises. (more...)

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