Money
Fed announces launch of second facility to support credit markets
- March 18, 2020
Treasury will provide $10 billion as a backstop, allowing the Fed to purchase commercial paper from U.S. firms or United States subsidiaries of foreign companies over the coming year. The CPFF involves the Fed buying commercial paper from issuers directly. Liquidity-or the ability for buyers and sellers to easily transact-has dried up in the commercial paper market in recent weeks as the spread of the coronavirus has disrupted credit markets and hit the price of commercial paper. (more...)
- March 18, 2020
Treasury will provide $10 billion as a backstop, allowing the Fed to purchase commercial paper from U.S. firms or United States subsidiaries of foreign companies over the coming year. The CPFF involves the Fed buying commercial paper from issuers directly. Liquidity-or the ability for buyers and sellers to easily transact-has dried up in the commercial paper market in recent weeks as the spread of the coronavirus has disrupted credit markets and hit the price of commercial paper. (more...)
US Crude Prices Close Below $30 on Massive Supply, Recession Fears
- March 18, 2020
New York-traded West Texas Intermediate, the benchmark for United States crude, settled down $3.03, or 9.5 percent, at $28.70 per barrel on Monday. The unsold cargoes represented more than 70 per cent of the country's total oil exports and puts the country on a very hard spot, according to S&P Global Platts. (more...)
- March 18, 2020
New York-traded West Texas Intermediate, the benchmark for United States crude, settled down $3.03, or 9.5 percent, at $28.70 per barrel on Monday. The unsold cargoes represented more than 70 per cent of the country's total oil exports and puts the country on a very hard spot, according to S&P Global Platts. (more...)
Dow surges 1,049 points on stimulus moves after worst day since 1987
- March 18, 2020
The wide range of possible outcomes has Wall Street swinging wildly, and the S&P 500 had its third straight day where it moved more than 9% - two down and one up. The S&P 500 (SPX) rose almost 6%. The Dow ended the trading day down 2,998.97 points, or 12.93%, also sliding were the two other major US benchmarks, the S&P 500 dropped by 324.86 points, or 11.98%, and the Nasdaq Composite fell by 970.28 points, or 12.32%. (more...)
- March 18, 2020
The wide range of possible outcomes has Wall Street swinging wildly, and the S&P 500 had its third straight day where it moved more than 9% - two down and one up. The S&P 500 (SPX) rose almost 6%. The Dow ended the trading day down 2,998.97 points, or 12.93%, also sliding were the two other major US benchmarks, the S&P 500 dropped by 324.86 points, or 11.98%, and the Nasdaq Composite fell by 970.28 points, or 12.32%. (more...)
Coronavirus: 208 New Zealand-based pilots affected by Virgin Australia grounding
- March 18, 2020
Jetstar's parent company Qantas Airways said on Tuesday it would cut its worldwide capacity by around 90 per cent until at least the end of May. Rival Air New Zealand Ltd said on Monday it would cut long-haul capacity by 85%, while Virgin Australia Holdings Ltd had its credit rating downgraded. (more...)
- March 18, 2020
Jetstar's parent company Qantas Airways said on Tuesday it would cut its worldwide capacity by around 90 per cent until at least the end of May. Rival Air New Zealand Ltd said on Monday it would cut long-haul capacity by 85%, while Virgin Australia Holdings Ltd had its credit rating downgraded. (more...)
Coronavirus: Uber suspends pooled rides in these countries to limit virus spread
- March 18, 2020
Uber users in the USA and Canada won't have the pooled option for their rides. With that in mind, we are suspending the Uber Pool service in the United States and Canada. Shared rides are typically less expensive than riding alone. Riders are also being asked to consider the safety of their drivers by washing their hands before and after a ride and are encouraged to sit in the back seat with a window rolled down to improve ventilation. (more...)
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/IZQR4LPNJNEZ7AOFO54FRLI5IU.JPG)
- March 18, 2020
Uber users in the USA and Canada won't have the pooled option for their rides. With that in mind, we are suspending the Uber Pool service in the United States and Canada. Shared rides are typically less expensive than riding alone. Riders are also being asked to consider the safety of their drivers by washing their hands before and after a ride and are encouraged to sit in the back seat with a window rolled down to improve ventilation. (more...)
UK Government Announces Three-Month 'Mortgage Holiday'
- March 17, 2020
The UK government has now announced homeowners will be given a three-month "mortgage holiday" amid the coronavirus crisis. Mr Sunak said "people won't have to pay a penny to mortgage costs while they get back on their feet", adding that more measures would be announced later this week. (more...)
/arc-anglerfish-arc2-prod-shropshirestar-mna.s3.amazonaws.com/public/EAT4G4IBFJBCNGMFGEXNIERWJY.jpg)
- March 17, 2020
The UK government has now announced homeowners will be given a three-month "mortgage holiday" amid the coronavirus crisis. Mr Sunak said "people won't have to pay a penny to mortgage costs while they get back on their feet", adding that more measures would be announced later this week. (more...)
Coronavirus chokehold on USA worsens oil industry's pain
- March 17, 2020
The commodity price had lost around 47% over the last one month alone, as Saudi Arabia sparked a war for market share by lowering prices and planning to increase production as OPEC+ talks with Russian Federation failed to come to an agreement to lift prices. (more...)
- March 17, 2020
The commodity price had lost around 47% over the last one month alone, as Saudi Arabia sparked a war for market share by lowering prices and planning to increase production as OPEC+ talks with Russian Federation failed to come to an agreement to lift prices. (more...)
Several UK planes turn MID-FLIGHT as Spain declares state of emergency
- March 17, 2020
On its Twitter account, Jet2 said the measure was in response to the closure of shops, restaurants and cancellation of activities in Spain . Low-priced carrier Jet 2 has suspended all flights to Spain, as the number of coronavirus cases in the country soars to over 5,700. (more...)
- March 17, 2020
On its Twitter account, Jet2 said the measure was in response to the closure of shops, restaurants and cancellation of activities in Spain . Low-priced carrier Jet 2 has suspended all flights to Spain, as the number of coronavirus cases in the country soars to over 5,700. (more...)
Oil sinks below $30 as recession fears weigh
- March 17, 2020
Until now, the largest six-month global surplus since 2000 was from late 2015 to early 2016, when it was a cumulative 360 million barrels, it said. Global benchmark Brent crude was trading at $32.11 per barrel at 0640 GMT on Monday for a 5.1% decline after it closed Friday at $33.85 a barrel. (more...)
- March 17, 2020
Until now, the largest six-month global surplus since 2000 was from late 2015 to early 2016, when it was a cumulative 360 million barrels, it said. Global benchmark Brent crude was trading at $32.11 per barrel at 0640 GMT on Monday for a 5.1% decline after it closed Friday at $33.85 a barrel. (more...)
Stock futures tumble after Fed takes emergency action
- March 17, 2020
Platinum dived almost 27% to its weakest level since 2002, while gold fell more than 5% as investors unloaded precious metals in exchange for cash as not enough buyers sparked illiquidity, especially in the U.S. Lower rates and increased asset purchases by the Fed will help ease tight credit markets, but the USA government needs to do more to address the impact of the coronavirus, said David Joy, chief market strategist at Ameriprise Financial in Boston. (more...)
- March 17, 2020
Platinum dived almost 27% to its weakest level since 2002, while gold fell more than 5% as investors unloaded precious metals in exchange for cash as not enough buyers sparked illiquidity, especially in the U.S. Lower rates and increased asset purchases by the Fed will help ease tight credit markets, but the USA government needs to do more to address the impact of the coronavirus, said David Joy, chief market strategist at Ameriprise Financial in Boston. (more...)
Trump administration to seek $850B stimulus package to offset coronavirus havoc
- March 17, 2020
While the Senate is in Washington this week, the House is on a scheduled week-long break. Donald Trump has said he'll sign it. Despite Trump's robust support , a handful of Republicans said they wanted to make changes in the House-passed measure. (more...)
- March 17, 2020
While the Senate is in Washington this week, the House is on a scheduled week-long break. Donald Trump has said he'll sign it. Despite Trump's robust support , a handful of Republicans said they wanted to make changes in the House-passed measure. (more...)
Uber Eats waives delivery fees across the US and Canada
- March 17, 2020
That's why we're working urgently to drive orders toward independent restaurants on Eats, to help make up for the significant slowdown of in-restaurant dining", Sallenave said. The company announced several changes to its policies that are meant to help restaurants and customers continue to do business while still practicing social distancing. (more...)
- March 17, 2020
That's why we're working urgently to drive orders toward independent restaurants on Eats, to help make up for the significant slowdown of in-restaurant dining", Sallenave said. The company announced several changes to its policies that are meant to help restaurants and customers continue to do business while still practicing social distancing. (more...)
Trump Issues 15-Day Plan to Halt US Spread of Coronavirus
- March 17, 2020
Trump also said he hoped to avoid nationwide travel restrictions and that a national curfew was not under consideration at this point. On Monday, Gov. "I think we've done a great job, and it started with the fact that we kept a very highly infected country, despite all of the, even the professionals saying it's too early to do that". (more...)
- March 17, 2020
Trump also said he hoped to avoid nationwide travel restrictions and that a national curfew was not under consideration at this point. On Monday, Gov. "I think we've done a great job, and it started with the fact that we kept a very highly infected country, despite all of the, even the professionals saying it's too early to do that". (more...)
U.S. Treasury yields fall after aggressive Fed action, but off lows
- March 17, 2020
That is the lowest level since December 2015, when the Fed raised rates for the first time after leaving them at almost zero for seven years. "The Federal Reserve supports firms that choose to use their capital and liquidity buffers to lend and undertake other supportive actions in a safe and sound manner". (more...)
- March 17, 2020
That is the lowest level since December 2015, when the Fed raised rates for the first time after leaving them at almost zero for seven years. "The Federal Reserve supports firms that choose to use their capital and liquidity buffers to lend and undertake other supportive actions in a safe and sound manner". (more...)
Dow Plunges 2200 Points, Trading Halted After Fed Slashes Rates
- March 17, 2020
The emergency measures are meant to encourage economic activity and will take the form of the dramatic step of lowering interest rates to nearly zero in order as well as a monetary infusion of $700 billion in quantitative easing purchases. A stock market ticker screen in the lobby of the Tel Aviv Stock Exchange, in the center of Tel Aviv, March 15, 2020. Goldman Sachs research analysts said in a note to clients they expect the S&P 500 to decline by 26% and fall to a "mid-year trough of ... (more...)
- March 17, 2020
The emergency measures are meant to encourage economic activity and will take the form of the dramatic step of lowering interest rates to nearly zero in order as well as a monetary infusion of $700 billion in quantitative easing purchases. A stock market ticker screen in the lobby of the Tel Aviv Stock Exchange, in the center of Tel Aviv, March 15, 2020. Goldman Sachs research analysts said in a note to clients they expect the S&P 500 to decline by 26% and fall to a "mid-year trough of ... (more...)
Amazon Seeks 100000 More Employees to Keep Up With Surge in Orders
- March 17, 2020
The wage increases will be approximately $2 per hour in the US, £2 per hour in the United Kingdom , and approximately €2 per hour in other European countries . Amazon has actually attempted to visual coronavirus- associated misuse on its system, getting rid of millions of items for making incorrect coronavirus insurance claims, in addition to getting rid of hundreds of thousands of listings over cost gouging and outlawing vendors that boosted rates on high-demand things like face masks and ... (more...)
- March 17, 2020
The wage increases will be approximately $2 per hour in the US, £2 per hour in the United Kingdom , and approximately €2 per hour in other European countries . Amazon has actually attempted to visual coronavirus- associated misuse on its system, getting rid of millions of items for making incorrect coronavirus insurance claims, in addition to getting rid of hundreds of thousands of listings over cost gouging and outlawing vendors that boosted rates on high-demand things like face masks and ... (more...)
New Zealand slashes rates as PM warns of recession
- March 17, 2020
The unscheduled decision follows rate cuts by central banks around the world, including the Federal Reserve, which cut interest rates to near zero on Sunday in a shock move. Westpac Bank has announced it will pass on the full interest rate cut to customers. Economist Shamubeel Eaqub said he was not surprised that fixed home loan rates had not yet been cut. (more...)
- March 17, 2020
The unscheduled decision follows rate cuts by central banks around the world, including the Federal Reserve, which cut interest rates to near zero on Sunday in a shock move. Westpac Bank has announced it will pass on the full interest rate cut to customers. Economist Shamubeel Eaqub said he was not surprised that fixed home loan rates had not yet been cut. (more...)
Wall Street trading halted after deep losses
- March 16, 2020
Pessimists, though, are preparing for a longer haul. The major sell-off comes even after the Federal Reserve made a surprise announcement on Sunday that it's slashing interest rates to near zero and spending $700 billion to buy Treasury and mortgage bonds to help buoy the economy during the coronavirus pandemic. (more...)
- March 16, 2020
Pessimists, though, are preparing for a longer haul. The major sell-off comes even after the Federal Reserve made a surprise announcement on Sunday that it's slashing interest rates to near zero and spending $700 billion to buy Treasury and mortgage bonds to help buoy the economy during the coronavirus pandemic. (more...)
France fines Apple $1.2 billion for anti-competitive acts
- March 16, 2020
The French regulator said the Apple case was prompted by a complaint lodged by eBizcuss, an Apple premium reseller, in 2012. The head of the authority, Isabelle de Silva, said it was "the heaviest fine against a firm" as well as in any case, which also included two of Apple's wholesalers in France who were hit with fines worth almost 140 million euros. (more...)
- March 16, 2020
The French regulator said the Apple case was prompted by a complaint lodged by eBizcuss, an Apple premium reseller, in 2012. The head of the authority, Isabelle de Silva, said it was "the heaviest fine against a firm" as well as in any case, which also included two of Apple's wholesalers in France who were hit with fines worth almost 140 million euros. (more...)
BoT not reacting to Fed rate cut
- March 16, 2020
Speaking after the announcement Fed chairman Jerome Powell said "The virus is having a profound effect". The falls on share markets come as investors worry that the world's biggest central banks may now have very little ammunition left to deal with the effects of the coronavirus if the global economic climate continues to worsen. (more...)
- March 16, 2020
Speaking after the announcement Fed chairman Jerome Powell said "The virus is having a profound effect". The falls on share markets come as investors worry that the world's biggest central banks may now have very little ammunition left to deal with the effects of the coronavirus if the global economic climate continues to worsen. (more...)
Latest news
Crowds to return to Australian Open from Thursday