Money


Cash-Like Funds Hold Key to Why US Won't See Negative Rates Cash-Like Funds Hold Key to Why US Won't See Negative Rates
- May 18, 2020

What they're saying: "Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery", Powell said. The futures market is used to hedge for and bet outright on the level of the Fed's benchmark overnight interest rate as far as three years down the road. (more...)
US gearing for antitrust case against Google US gearing for antitrust case against Google
- May 18, 2020

The Journal identified hundreds of instances in which individuals or companies, often using apparently fake identities, caused the Alphabet Inc. unit to remove links to unfavorable articles and blog posts that alleged wrongdoing by convicted criminals, foreign officials and businesspeople in the US and overseas. (more...)
William Hill : revenue falls 57% in COVID lockdowns William Hill : revenue falls 57% in COVID lockdowns
- May 17, 2020

Online International net revenue grew 35 per cent during the period due to a strong performance in gaming, including a Spanish launch for its Mr Green entity. "In light of the limited visibility regarding the nature and duration of COVID-19 related restrictions, we are withdrawing all future guidance". Bengtsson added: "We have preserved liquidity and amended the terms of our net debt covenant, leading to significant balance sheet headroom". (more...)
McDonald's Reopening Six Dublin Restaurants On May 20th McDonald's Reopening Six Dublin Restaurants On May 20th
- May 17, 2020

The fast-food joint will begin its transition with 30 restaurants, where new protective measures and procedures will be tested, monitored, and adapted for national implementation. - Contact-free service for in-restaurant take-out. The company suggests restaurants install new equipment that would make adhering to social distancing guidelines easier such as $310 automatic towel dispensers, $718 touchless sinks, and foot pulls for doors to allow customers to open bathroom doors without using ... (more...)
NY barber with coronavirus believed to have infected dozen people NY barber with coronavirus believed to have infected dozen people
- May 17, 2020

Carol Smith said . While Ulster County and other parts of NY have entered Phase One of the state's reopening plan, barbershops and hair salons are not expected to be allowed to reopen until Phase Two. As of this weekend, there were 1,563 confirmed cases of COVID-19 and 64 fatalities in Ulster County. The condition will keep on after a phased reopening strategy. (more...)
Tesla tells employees it has county approval to reopen California plant Tesla tells employees it has county approval to reopen California plant
- May 17, 2020

Tesla has told employees at its Fremont, California, factory that they risk their unemployment benefits if they don't get back to work on the assembly line following a seven-week coronavirus lockdown, according to a report . Tesla expects to make a decision as soon as next month, and "certainly within three months", CEO Elon Musk said April 29 during the company's first quarter earnings call. (more...)
Singapore Airlines posts first-ever annual loss on fuel hedges, virus Singapore Airlines posts first-ever annual loss on fuel hedges, virus
- May 17, 2020

Parent airline SIA made a S$583 million operating loss in the fourth quarter, reversing from an operating profit of S$204 million in the same period a year earlier. SIA swung into an operating loss of SGD 803 million for the latest quarter, compared to a profit of SGD 253 million previous year. SIA also has the option of issuing up to an additional S$6.2 billion through additional MCBs. (more...)
Air Canada to lay off half its staff Air Canada to lay off half its staff
- May 17, 2020

The country's largest airline - along with its competitors - has seen demand for air travel evaporate amid ongoing border shutdowns and confinement measures, prompting Air Canada to ground some 225 airplanes and slash flight capacity by 95 per cent. (more...)
China Industrial Production Rebounds China Industrial Production Rebounds
- May 17, 2020

Industrial outcome in April climbed up 3.9 percent from a year previously after dropping 1.1 percent in March, the NBS stated. The production of oil, coal, metals and electricity all increased as plants restarted operations in April. New yuan loans hit 1.7 trillion yuan (about 240 billion USA dollars) in April, a year-on-year rise of 681.8 billion yuan, the People's Bank of China (PBOC) said. (more...)
California biopharmaceutical company claims coronavirus antibody breakthrough California biopharmaceutical company claims coronavirus antibody breakthrough
- May 17, 2020

Henry Ji , told Fox. There is a solution that works 100 percent. "If we have the neutralizing antibody in your body, you don't need the social distancing". When the antibody prevents a virus from entering a human cell, the virus can not survive. "The body clears out that virus". If the antibody treatment is effective and safe in patients, the company expects to begin a larger trial in August or possibly September. (more...)
COVID-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic COVID-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic
- May 17, 2020

Penney has begun filing for bankruptcy protection. J.C. Penney, which is almost $4 billion in debt, is the fourth major US retailer to seek Chapter 11 protection in May. Founded by James Cash Penney in 1902, J.C. Penney operated 846 department stores in 49 states and Puerto Rico as of February 1, according to company filings. (more...)
Rumors Suggest Ground Breaking Battery News From Tesla Coming Soon Rumors Suggest Ground Breaking Battery News From Tesla Coming Soon
- May 17, 2020

New low-priced batteries created to last a million miles are being developed to enable Tesla to sell electric cars profitably at the same price or less than comparable gasoline cars, reports Reuters . The American electric carmaker also plans to implement new high-speed, automated battery manufacturing processes created to reduce labour costs. Reuters also says the new batteries will rely on low-cobalt components and chemical additives that reduce stress over time. (more...)
Sensex ends 25 points lower at 31,097, Nifty settles at 9,136 Sensex ends 25 points lower at 31,097, Nifty settles at 9,136
- May 17, 2020

Major losers in the Sensex pack were M&M, HCL , Maruti, ITC, Heromoto Corp, TCS, Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank, Bajaj Auto and Sun Pharma, falling upto 3.37 percent. On the other hand, Nifty Metal index was top gainer, up 1.6 per cent. Nifty Auto index was down almost 1.5 per cent. Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with losses after the World Health Organization warned that the virus "may never go away". (more...)
Big Bang Defence Reforms Unveiled: Separate Defence Budget for Indian Industry Big Bang Defence Reforms Unveiled: Separate Defence Budget for Indian Industry
- May 16, 2020

This will not only save cost of fuel, but also save time. Additional investment by private players in 12 airports is expected to be around Rs 13,000 crores. On imports, the minister said that while essential weapons not produced here will be sourced from overseas, a negative list will be generated and notified for which all imports will be banned. (more...)
Cyprus economy shrinks 1.3% during Q1 2020 Cyprus economy shrinks 1.3% during Q1 2020
- May 16, 2020

The figures are in line with market expectations, says BBC global trade correspondent Dharshini David. The statistics office warned that the figures were subject to extreme uncertainty, with the next estimate due out on 25 May. Utermoehl said that, despite the recent figures, the German economy looks set to emerge faster and in a stronger position than most of its neighbors, predicting an 8.9 percent decline in full-year gross domestic product in 2020, which would be less severe than that of ... (more...)
World airline body opposes countries imposing quarantine for global travellers World airline body opposes countries imposing quarantine for global travellers
- May 16, 2020

This would further delay the recovery of air travel. On one hand, it's the flattening of the contagion curve across the world, which would mostly guide measures for the lifting of travel restrictions between countries. IATA urged governments to find alternatives, warning they must "not make that prognosis worse by making travel impracticable with quarantine measures". (more...)
Twitter Announces a Permanent, 'Forever' Work-From-Home Model For Some Employees
- May 16, 2020

It added, "The past few months have proven we can make that work". Twitter has "strongly encouraged" working from home since March 2 and has now informed all employees globally they "must" work from home, the company said. Given that COVID-19 mitigation efforts are still active and the virus is continuing to spread, Twitter has cancelled all in-person events for the remainder of the year. (more...)
S&P 500, Dow edge lower on trade war fears, virus woes S&P 500, Dow edge lower on trade war fears, virus woes
- May 16, 2020

Chipmakers were among the biggest losers after the US government moved to impose new restrictions on Chinese tech giant Huawei. The S&P 500 extended losses into a second day and the dollar fell as Powell said the recovery "may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems". (more...)
Alberta officials share COVID-19 update for May 13 Alberta officials share COVID-19 update for May 13
- May 16, 2020

She said keeping businesses closed in one city could drive people to another and increase the risk of exposure to COVID-19. They can find the short template online under the Alberta Biz Connect site , fill it out, and either post it on their website or physically post it in their business. (more...)
China uses trade as weapon to silence virus criticism China uses trade as weapon to silence virus criticism
- May 15, 2020

Trade minister Simon Birmingham requested a telephone call with Chinese commerce minister Zhong Shan after four large beef exporters were suspended by Chinese customs authorities, Birmingham's office said today. Birmingham said today Australia would continue to support an global inquiry into the coronavirus. "When inspecting imported meat products, the Chinese Customs continuously found that multiple batches of Australian beef products exported to China by few Australian companies violated ... (more...)

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