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Stocks slide, on pace for worst quarter since 2008

March 31, 2020 by  
Filed under News

Global stock markets slid on Tuesday as investors continued to assess the economic damage from the coronavirus pandemic, leaving the MSCI benchmark of world equities on pace to finish its worst quarter since the financial crisis of 2008.


Source: Reuters Business News

Oil edges higher after 18-year lows prompt U.S.- Russia talks plan

March 31, 2020 by  
Filed under News

Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilising energy markets, with benchmarks climbing off 18-year lows, though the coronavirus-related demand hit capped gains.


Source: Reuters Business News

S&P 500 set for worst first quarter since 1938

March 31, 2020 by  
Filed under News

Wall Street was set to open lower on Tuesday, with the S&P 500 headed for its worst first quarter since 1938 as evidence grew of the scale of the damage caused by the collapse in oil prices and business activity due to the coronavirus.


Source: Reuters Business News

U.S. unemployment offices sitting on mountain of pending claims

March 31, 2020 by  
Filed under News

Last week’s record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new stimulus bill extends benefits to the self-employed.


Source: Reuters Business News

Furniture giant IKEA making masks to help fight coronavirus

March 31, 2020 by  
Filed under News

Furniture giant IKEA is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal business areas to help meet equipment shortages in the fight against coronavirus.


Source: Reuters Business News

U.S. markets watchdog Clayton says SEC should not ban short-selling of shares

March 30, 2020 by  
Filed under News

The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market rout that stems from fears the coronavirus will spark a global recession.


Source: Reuters Business News

AmEx to freeze hiring, not cut jobs as coronavirus crisis deepens: Bloomberg News

March 30, 2020 by  
Filed under News

Credit card issuer American Express Co will freeze hiring and avoid job cuts this year in response to the coronavirus pandemic, Bloomberg news reported on Monday, citing a video message to employees from Chief Executive Officer Steve Squeri.


Source: Reuters Business News

Bostic: Fed programs could be broadened if they have missed important parts of economy

March 30, 2020 by  
Filed under News

As U.S. officials role out trillions of dollars in new economic support, a Federal Reserve policymaker on Monday said focus will now shift to whether those programs prove adequate or need to be expanded even further.


Source: Reuters Business News

J&J, Moderna sign deals with U.S. to produce possible coronavirus vaccines

March 30, 2020 by  
Filed under News

The U.S. government has cut deals with Johnson & Johnson and Moderna Inc and said it is in talks with at least two other companies to expand manufacturing capacity within the United States for vaccines to prevent the new coronavirus even before safe and effective ones become available.


Source: Reuters Business News

Coronavirus drives U.S. March auto sales off a cliff

March 30, 2020 by  
Filed under News

U.S. new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the country, and sales are likely to take a further beating in April as social distancing guidelines remain in place.


Source: Reuters Business News

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