Money

Market Recap: Friday, March 27

European stocks dropped on Friday while USA stock futures marked a downturn, indicating a lower opening on Wall Street, as coronavirus cases in America pass Chi...


Ventec and GM kick into gear for ventilator production

General Motors issued a statement announcing its agreement to build ventilators with Ventec Life Systems , a small Seattle-area company. It is unclear, pe...


Attorneys general call for online marketplaces to crack down on price gouging

The issue of price-gouging on online platforms has become a hot topic among law enforcement agencies, officials and lawmakers as panicked consumers look to st...


Bank of Canada slashes key interest rate to 0.25%

The Bank of Canada cut its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement Friday. In addition to lowering...


Kansas, Missouri see sharp increase in jobless claims due to COVID-19

Almost 90 percent of all first-time claims with the state last week were made over the internet, according to state figures . It's bad: Based on state data, ...


GM ventilator effort goes haywire with Trump slamming automaker CEO

Government officials said that the deal might still happen but that they are examining at least a dozen other proposals. Hourly workers at Ford and GM, as...


US Senate passes $2 trillion coronavirus aid bill

Trump, who supports the legislation and which has broad bipartisan support, labeled Rep. Thomas Massie (R-Ky.) a "third rate Grandstander" who should be throw...


Coronavirus: IRS has extended tax filing deadline, but what about NY?

For individual taxpayers, you can also apply for the normal extension to October 15 with the normal Form 4868. Unlike the initial advice from the IRS, there is...


Gerrity's supermarket forced to trash $35,000 in food after woman's coughing 'prank'

The case was escalated to the District Attorney's office who also issued a press release on the matter. Fasula also noted that even though the value of the di...


Coronavirus: 400,000 Britons volunteer to join NHS to battle COVID-19

However, in just 24 hours, 405,000 - equivalent to the population of Coventry - have come forward to offer their services. "They will be absolutely crucial in...


Senate approves $2 trillion stimulus package in face of COVID-19 pandemic

The House will begin debating the Coronavirus Aid, Relief , and Economic Security (CARES) Act at 9 a.m. Friday. Mnuchin said the flat $600 per week "was ...


Chancellor reveals a Self-employed Scheme

There are also claims that the delay in the coronavirus bailout for the self-employed could set the jobless total soaring and kill off start-up businesses. Pe...


Fed Will Provide Nearly Unlimited Lending, Chair Powell Says

Businesses across the nation have suddenly been forced to shutter amid lockdowns and other measures to prevent the spread of the virus. - I think people need to...


RBI allows banks to put EMIs on hold for three months

The decision was taken in a meeting of the Monetary Policy Committee that was brought forward from the scheduled start of March 31, and follows surprise actions...


USA unemployment claims hit record amid coronavirus lockdown

Over the first three days of this week, initial claims continued to track at record levels, the agency said. Jobless claims in NY rose an unprecedented 520%...


Tokyo Olympics price tag skyrockets by $3bn

Tuesday's decision came 122 days before the planned opening ceremony at Japan's newly built National Stadium, which was to usher in the 16-day event featuring 1...


Tesla Gigafactory 2 Will Reopen Soon To Make Ventilators

We will do whatever is needed to help in these hard times". The factory in Buffalo was shut down on Monday because of the crisis, but manufacturing ventilat...


Oil Falls as Sinking Demand Outweighs Stimulus Hopes

Meanwhile, data released by the Energy Information Administration (EIA) on Wednesday showed crude oil inventories in the USA rose by 1.6 million barrels for t...


Coronavirus Sparks Hiring Spree for almost 500,000 Jobs at Big Retailers

Some of the roles will support mobile orders made in 7-Eleven's 7Now app. The company is looking for cashiers and stockers at its retail stores, and fillers and...


How will the $2 trillion stimulus rescue package impact you?

The checks taper off up to $99,000 in income per individual and $198,000 for joint filers with no children. Under the Senate's legislation, "qualifying childr...


Dollar falls after Fed QE, on fiscal stimulus hopes

An early version of the 'Take Responsibility for Workers and Families Act,' introduced by House Speaker Nancy Pelosi also included a digital currency dist...


International Monetary Fund expects global recession in 2020

He said the economic shock is already bigger than the financial crisis and the world will take years to recover from the coronavirus pandemic. "These bold eff...


United States jobless claims skyrocket to 3.2 million as coronavirus hits the economy

It's the highest level of initial claims the Labor Department has on record since it began adjusting the figures to account for seasonal variations. And in NY...


$2 Trillion to Stimulate the Economy

Some $240 billion is set aside for additional emergency appropriations and safety net programs: food stamp benefits, child nutrition, the Centres for Disease ...


Coronavirus impact: Centre to provide Rs 170000 crore relief package

The package will include cash transfer and food subsidy, she said. The insurance scheme will cover safai karamcharis (sanitation workers), war-boys, nurses,...


Gold dips as investors overlook stimulus measures in cash dash

Bullion had a fraught start to the week as logistical disruptions caused by the coronavirus pandemic led to a divergence of prices in NY and London, with trad...


Senate passes $2.2 trillion emergency relief bill

Among other provisions, the bill includes direct checks of $1,200 for individuals who made less than $75,000 in 2018, or less than $150,000 for those filing j...


US Stocks Struggle Early after Tuesday's Overcooked Rally

Wall Street also teetered though it mostly remained more than 1% higher. The Nasdaq dipped 0.45%, however. Boeing shares rallied 24% to lead the Dow higher. Des...


Ontario to spend $2.1 B to bolster health system COVID-19 response

As businesses face a major financial hit due to forced COVID-19 closures, the government will spend $6 billion in tax deferrals this fiscal year giving owners u...


Stock Futures Gain After U.S. Stimulus Agreement: Markets Wrap

In metals markets, gold changed hands at $1,608.78 an ounce, retaining most of Tuesday's gains of nearly 5 per cent, its biggest jump since 2008. At 13:11 p.m...