Money


Gilead Coronavirus Drug Shows Early Promise Gilead Coronavirus Drug Shows Early Promise
- April 18, 2020

Back in February, the World Health Organization said remdesivir showed potential against Covid-19. A report from STAT suggests the drug made by Gilead Sciences is showing big promise in treating "severe" coronavirus patients in Chicago . (more...)
Most small United Kingdom companies have no pandemic insurance - watchdog
- April 18, 2020

Most insurance coverage insurance policies purchased by smaller companies don't cowl for disruption attributable to the coronavirus pandemic, Britain's Monetary Conduct Authority mentioned on Wednesday. To date, SMEs who make claims have told us that their claim is usually dealt with speedily - in fact, speed of payment is one of the best performing indicators that we measure. (more...)
Oil prices rise as Trump flags deeper output cuts Oil prices rise as Trump flags deeper output cuts
- April 18, 2020

While at the beginning of the year it was traded at over United States dollars 70/bbl, on March 30 it was traded at USD 21.65/bbl, the lowest price recorded in nearly two decades. Saudi Aramco announced its pricing structure for May, reflecting demand and supply fundamentals, under which it will offer customers in Asia the cheapest oil in many decades. (more...)
Dow climbs 558 points as markets rally amid plans to reopen economy Dow climbs 558 points as markets rally amid plans to reopen economy
- April 18, 2020

Among its biggest boosts was Amazon .com, which rose 5.3% to $2,283.32, a record high close. But as hard data emerges on the economic impact of lockdowns, "the market will still react to that negatively". But the benchmark index remains about 17% below its mid-February record high amid fears of a deep global recession, as the health crisis sparks production halts and mass furloughs. (more...)
Virgin offered $200 lifeline from Queensland government amid COVID-19 crisis Virgin offered $200 lifeline from Queensland government amid COVID-19 crisis
- April 18, 2020

Qantas and Virgin however will receive federal government backing to operate key domestic routes between major cities and regional centres. Virgin said the reinstatement of these flights was in response to a request from the Australian government to resume flying "an underwritten, minimal domestic schedule". (more...)
China's fixed-asset investment down 16.1 pct in Q1 China's fixed-asset investment down 16.1 pct in Q1
- April 18, 2020

And analysts have warned of tougher times ahead, with weaker external demand for Chinese goods to weigh on growth as key export markets are battered by COVID-19. Providing a silver lining was a much smaller-than-expected fall in factory production in March, suggesting tax and credit relief for virus-hit firms was helping restart parts of the economy shut down since February. (more...)
Nearly 6000 to be quizzed in Ruby Princess inquiry Nearly 6000 to be quizzed in Ruby Princess inquiry
- April 18, 2020

Information relevant to the circumstances surrounding the deaths of people who either contracted COVID-19 on board the vessel or through contact with a passenger will be reported to the NSW Coroner's Court in due course. Camera IconThe footage of the party on the Ruby Princess - which included kitchen staff in a conga line - has been given to homicide detectives investigating why the ship was allowed to dock in Sydney on March 19. (more...)
Jobless claims in Georgia hit all-time high Jobless claims in Georgia hit all-time high
- April 18, 2020

More than 5.2 million Americans filed for unemployment benefits last week, according to new federal data showing the coronavirus crisis has put more than 22 million Americans out of work in a month. "We are taking many steps to help get people their benefits", she wrote. In a statement, Employment Security Commissioner Suzi LeVine said "we know that many more are awaiting that same relief". (more...)
This is the plan to reopen the U.S. This is the plan to reopen the U.S.
- April 18, 2020

There was no mention of the " Opening Up America Again Congressional Group ", which the White House had announced earlier on Thursday, a panel including 97 House and Senate members, including every Republican senator except Sen. In the final phase, communities vulnerable to the coronavirus such as the elderly and individuals with pre-existing health conditions would be allowed to resume public interactions. (more...)
Trudeau: Canada-U.S. Border to Remain Closed for 'Significant Time' Trudeau: Canada-U.S. Border to Remain Closed for 'Significant Time'
- April 17, 2020

Truck drivers, and Canadians who live in the United States for part of the year and are returning to Canada, are also exempt from the current travel ban. Public health officials in the US, while they point to clear signs of improvement in the effort to slow the rate of infection, continue to drive home the importance of maintaining measures already in place - physical distancing, staying home where possible and aggressive personal and environmental hygiene - as critical to long-term success. (more...)
Administrators appointed at Oasis and Warehouse Administrators appointed at Oasis and Warehouse
- April 17, 2020

The order was sought in relation to Oasis Fashions Ireland Ltd and Warehouse Fashion Ireland Ltd, which the court heard are part of the Aurora Fashions group, owned by the Icelandic Kaupthing Bank. The coronavirus pandemic is eating into retail businesses, which were already feeling the pinch before the outbreak started. Online trading is ongoing "in the short term whilst the administrators assess options for the future", with 41 head office staff have been kept on to help the ... (more...)
Government's Job Retention scheme date extended to support new staff Government's Job Retention scheme date extended to support new staff
- April 17, 2020

When first revealed, eligibility for the Coronavirus Job Retention Scheme was reserved for employees that had been on a company's payroll from the 28th February of this year. Martin Lewis comments on newly announced furlough rules [INSIGHT] Furlough payments: How long is furlough paid for? Furlough extended: What is furlough? "I think in all of these schemes created to help the economy, we have had to design them so they can be implemented very quickly and time, in some sense, has ... (more...)
Coronavirus: Weekly jobless claims hit 5.2 million Coronavirus: Weekly jobless claims hit 5.2 million
- April 17, 2020

But the pandemic swept through the United States, forcing many Kansans to lose their jobs and postponing any technical updates, she said. "This marks the highest level of the seasonally adjusted insured unemployment rate in the history of the seasonally adjusted series". (more...)
US Producers Being Forced to Make Aggressive Production Cuts US Producers Being Forced to Make Aggressive Production Cuts
- April 17, 2020

OPEC on Thursday again cut its forecast for 2020 global oil demand due to the "historic shock" delivered by the coronavirus outbreak, and said the reduction may not be the last. "Both countries are firmly committed to fulfilling the coordinated target cuts, they will continue to closely monitor the oil market and, if needed, they are ready to take any necessary measures together with OPEC+ and other producers". (more...)
RBI pumps Rs 1.2 lakh crore fresh currency into system RBI pumps Rs 1.2 lakh crore fresh currency into system
- April 17, 2020

On a positive note, Das asserted that Indian growth rate is expected to be highest among the G20 nations at 1.9 per cent, as per the International Monetary Fund estimates. To preserve capital, RBI asked banks not to pay any further dividends for the fiscal year ended March 31. Rs 50,000 crore special finance facility will also be provided to financial institutions such as Nabard, Sidbi (Small Industries Development Bank of India) and NHB (National Housing Bank). (more...)
COVID-19 patients are responding quickly to experimental drug remdesivir
- April 17, 2020

STAT has obtained video of Kathleen Mullane, the University of Chicago's infectious disease specialist who is overseeing the studies, sharing with her colleagues updates on the trials, including how almost all of the patients have been discharged in less than a week. (more...)
Stock markets plunge after World Health Organization declares pandemic Stock markets plunge after World Health Organization declares pandemic
- April 17, 2020

Stock Index ETF echoed the moves in markets, with the SPDR S&P 500 ETF Trust (SPY ), the SPDR Dow Jones Industrial Average ETF (DIA ), and the Invesco QQQ Trust (QQQ ) all bleeding out today. The number of confirmed COVID-19 cases in the United States has topped 1,000. NY set up the country's first "containment area" around one of the largest clusters of cases in the nation. (more...)
U.S. jobless claims due to coronavirus lockdown rise above 22 million
- April 17, 2020

More than half a million people have filed for unemployment in MA over the past four weeks as the coronavirus pandemic wreaks havoc on the economy. The previous record for initial jobless claims during the Great Recession was below 700,000. (more...)
Dow enters bear market territory as World Health Organization declares Coronavirus pandemic Dow enters bear market territory as World Health Organization declares Coronavirus pandemic
- April 17, 2020

The Nasdaq Composite Index dipped 242.54 points, or 2.91 percent, to 8,101.71. Markets have also been slammed this week by a plunge in oil prices, after oil exporters said they would increase output rather than make coordinated cuts. Global benchmark Brent crude settled down 4.41 percent at $35.58 a barrel, while U.S. benchmark West Texas Intermediate crude slipped below $33 a barrel. (more...)
Millions unemployed, homebuilding collapses as coronavirus ravages U.S. economy Millions unemployed, homebuilding collapses as coronavirus ravages U.S. economy
- April 16, 2020

The latest seasonally adjusted number of initial jobless claims slowed from the prior week's total of 6.6 million even as it outpaced economists' expectations for roughly 5.1 million. The dollar was higher against a basket of currencies. COVID-19 continues to spread throughout the United States and as more people get sick more people make their way to the unemployment office to file for benefits. (more...)

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