Économie

Trolley full of toilet paper sparks full on brawl at Woolies

Trolley full of toilet paper sparks full on brawl at Woolies Toilet paper has emerged as the unlikely No.1 stockpiling target for people anxious that the spread of the coronavirus epidemic will lead to supply shortages. Coles has taken even more extreme measures as customers panic buy toilet paper, rolling back purchase limits to just one per shopper. "No, not one pack", another replies as she begs with the woman to leave her daughter alone. [Full Article...]

EU's Barnier speaks after first round of post-Brexit trade talks

EU's Barnier speaks after first round of post-Brexit trade talks Barnier was speaking to reporters after four days of talks that launched months of intense closed-door negotiations involving more than 100 officials on each side. The EU also wants a singular overarching legal structure to deal with any future disputes, whereas the United Kingdom wants a series of "specific sectoral agreements" covering the 11 areas being negotiated. [Full Article...]

US added robust 273K jobs in February before virus escalated

US added robust 273K jobs in February before virus escalated In its Beige Book released Wednesday, the Federal Reserve characterized economic activity through February 24 as expanding at a "modest to moderate rate over the past several weeks", with employment increasing "at a slight to moderate pace, overall, with hiring constrained by a tight labor market". [Full Article...]

Hachette Book Group cancels Woody Allen's memoir

Hachette Book Group cancels Woody Allen's memoir Ronan Farrow's sister, Dylan Farrow , has repeatedly claimed Allen sexually abused her as a child. Allen has denied the allegation. News reports also add that Hachette Book Group has made a decision to give back all the rights of the memoir Apropos of Nothing to the director. [Full Article...]

Coronavirus: Opec gambles in bid to force Russian Federation into oil cuts

Coronavirus: Opec gambles in bid to force Russian Federation into oil cuts Under the agreement, OPEC said its members will cut a minimum of one million barrels per day from production, while Russian Federation and other members in the non-OPEC group would cut 500,000 barrels. The Kremlin said on Friday that President Vladimir Putin had no plans to talk to the Saudi leadership, dashing hopes that a deal could be salvaged at the very top. [Full Article...]

US Federal Reserve slashes rates amid coronavirus impact

US Federal Reserve slashes rates amid coronavirus impact It is finally time for the Federal Reserve to LEAD. On Monday, markets rallied sharply - many believe on hopes that the G7 finance ministers would take policy action to mitigate the economic impacts of the outbreak. An emergency 50 basis point interest rate cut by the Fed on Tuesday had sent the dollar backwards against most Asian currencies and down to a five-month low of ¥106.84. [Full Article...]

Google Wins $179 Million Against Former Engineer Who Stole Trade Secrets

Google Wins $179 Million Against Former Engineer Who Stole Trade Secrets Though Ron settled with Google for $9.7 million last month, Levandowski had disputed the arbitration ruling. A representative for Levandowski declined comment for this story. His good fortune soon ran out. That was later bought up by Uber, and Levandowski was appointed as head of its own self-driving division.The case sparked a long-running fight between Google and Uber over self-driving technol... [Full Article...]

Virus could cost airlines $113 bn revenue in 2020: IATA

Virus could cost airlines $113 bn revenue in 2020: IATA It has since become clear that this will not be the case. But since then the virus has spread rapidly outside China, where it first emerged late past year, and has now reached some 80 countries and territories. "The Covid-19 outbreak is a global crisis that is testing the resilience not only of the airline industry but of the global economy ", stressed De Juniac. [Full Article...]

Robinhood’s Massive Outages Spell "Disaster", Could Face Class Action Lawsuit

Robinhood’s Massive Outages Spell We're so sorry this is happening! Although some reports suggested that the technical outage at Robinhood was caused by a significant increase in trading volumes on the platform, the company did not publicly link the issue to trading volumes. [Full Article...]

South Africa's confirms first case of coronavirus - health ministry

South Africa's confirms first case of coronavirus - health ministry The man showed flu-like symptoms and was caught with the ailment when he consulted a medic on March 3. The patient who tested positive had been self-isolating since 2 March. The rand extended losses after the announcement, weakening more than 1% against the dollar, while also weakening against the euro and pound. The WHO declared the outbreak of coronavirus in China a global health emergen... [Full Article...]

Russian Federation can cope with oil price drop if no OPEC cut agreed

Russian Federation can cope with oil price drop if no OPEC cut agreed Khaled Al-Fadhel Thursday. The global oil benchmark, Brent crude, was around $52 per barrel on Wednesday, a level at which many OPEC states will struggle to balance their budgets, although Russian President, Vladimir Putin , has said the current price was acceptable. [Full Article...]

Federal government to form cabinet committee to address coronavirus response

Federal government to form cabinet committee to address coronavirus response Prime Minister Justin Trudeau announced on Wednesday that he has created a new Cabinet committee to tackle the new coronavirus . That group often includes top permanent officials in addition to politicians. The discussion was expected to include mapping out cross-government preparedness and coordination with local and provincial governments in relation to the health and economic impacts of the ... [Full Article...]

Dow Jones falls 785 points despite emergency rate cut

Dow Jones falls 785 points despite emergency rate cut After some major bloodletting last week, the Dow Jones Industrial Average had its biggest single-day percentage gain since 2009 on Monday, rising almost 1,300 points or more than 5%. Federal Reserve Chairman Jerome Powell said at a news conference that the virus "will surely weigh on economic activity both here and overseas for some time". [Full Article...]

Amazon Worker in Quarantine With Coronavirus in Seattle, Washington

Amazon Worker in Quarantine With Coronavirus in Seattle, Washington Seattle , the state's largest city and home of Amazon HQ, has become COVID-19 ground zero in the US: More than 20 people have been infected, and eight have died in the wider King County area, Bloomberg reported , citing the local department of health. [Full Article...]

Wall Street opens lower as G7 doesn't mention monetary policy action

Wall Street opens lower as G7 doesn't mention monetary policy action The Dow Jones Industrial Average rose 466.27 points, or 1.80%, at the open to 26,383.68. If you're a long-term investor, the thing you should do now is ride this out. Separately, economists at Goldman Sachs slashed their forecasts for USA growth to just 0.9 percent in the first quarter and to zero for the April-June quarter. [Full Article...]

World pharma supplier India restricts export of some ingredients, drugs

World pharma supplier India restricts export of some ingredients, drugs Although India is heavily import-dependent for APIs from China , it exports a limited quantity of pharma ingredients. Now, export of 26 active pharmaceutical ingredients (APIs) and formulations require licence from the directorate general of foreign trade (DGFT). [Full Article...]

Federal Reserve cuts interest rates to counter coronavirus

Federal Reserve cuts interest rates to counter coronavirus Companies worldwide have been buffeted by actions taken by governments to stem the outbreak of coronavirus infections since they emerged in China, where entire cities have been locked down and factories shut. The Dow lost 785.91 points, or 2.9%, to 25,917.41, and the Nasdaq fell 268.07, or 3%, to 8,684.09. In response to the Fed's move Trump suggested more should be done: "the Federal Reserve... [Full Article...]

G7 top officials prepare to stem economic bleed from coronavirus

G7 top officials prepare to stem economic bleed from coronavirus G7 central banks will continue to fulfill their mandates, thus supporting price stability and economic growth while maintaining the resilience of the financial system. After all, the BOJ's policy rate has stood at minus 0.1% for several years and the central bank has been purchasing tens of billions of yen (billions of dollars) worth of government bonds and other assets to help keep credit cheap a... [Full Article...]

EU Commission head pledges aid, border guards to Greece amidst refugee crisis

EU Commission head pledges aid, border guards to Greece amidst refugee crisis He was in Greece with European Commission head Ursula von der Leyen and European Parliament head David Sassoli to tour the Greece-Turkey border, the scene of clashes between Greek soldiers and migrants in the last three days, Reuters said. [Full Article...]

Powell opens door to rate cut on 'evolving' risks from virus

Powell opens door to rate cut on 'evolving' risks from virus And St Louis Fed President James Bullard said Friday a rate cut is "a possibility" if the epidemic becomes a pandemic, but "that's not the baseline case". He told reporters after his speech at the Fort Smith Regional Chamber of Commerce, as cited by The Wall Street Journal : "I wouldn't want to prejudge the March meeting". [Full Article...]


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