Markets

CMHC expanding insured mortgage purchase program to $150B, up from $50B

CMHC expanding insured mortgage purchase program to $150B, up from $50B The ramp-up of mortgage purchases by CMHC is one of a slew of moves by the federal government, along with the Bank of Canada and the Office of the Superintendent of Financial Institutions, to shore up financial liquidity as the fight against the coronavirus delivers a severe economic shock. [Full Article...]

Should Kent be anxious about China coronavirus?

Should Kent be anxious about China coronavirus? Another described being on the "verge of tears" when the de facto quarantine was announced, with the misery compounded by it coming on the eve of the Lunar New Year holiday. Only travelers holding tickets for the last trains out were allowed to enter. "The situation will be pretty similar in pretty much all United Kingdom cities with a large number of Chinese students". [Full Article...]

Oil Prices Down Over 2% As Virus Worries Mount

Oil Prices Down Over 2% As Virus Worries Mount Fuel demand is expected to fall sharply worldwide in the second quarter with aviation largely at a halt and road travel severely curtailed. Crude oil prices on Wednesday rose 5.5 per cent to Rs 1,976 per barrel as participants widened their positions tracking a positive trend overseas. [Full Article...]

IOC Head Calls For 'Sacrifice And Compromises' After Tokyo Olympics Postponed

IOC Head Calls For 'Sacrifice And Compromises' After Tokyo Olympics Postponed Let's start with the biggest question... what took them so long to postpone the Games? His remarks come hours after Japan's Prime Minister Shinzo Abe made the official announcement on Tuesday that the Tokyo Games - formally known as the Games of the XXXII Olympiad - would be held instead "by the summer of 2021". [Full Article...]

COVID-19: Government announces Self-Employed Income Support Scheme

COVID-19: Government announces Self-Employed Income Support Scheme Chancellor Rishi Sunak has announced a "self employed income support scheme" to protect self employed workers in the UK. This is finance editor Claer Barrett's instant reaction to the Chancellor's self-employed support package during the coronavirus pandemic. [Full Article...]

Elon Musk to reopen Tesla's NY gigafactory to boost ventilator production

Elon Musk to reopen Tesla's NY gigafactory to boost ventilator production Dr. Deborah Birx, the White House's coronavirus task force coordinator, also said that anyone who has been in NY recently should self-quarantine for 14 days to prevent the virus from spreading. Cuomo said the need for ventilators is so critical because coronavirus "is a respiratory illness for a large number of people". NY has more cases of the illness than any other U.S. [Full Article...]

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

How will the $2 trillion stimulus rescue package impact you? Mind you, a lot of it will go toward bailing out tax-dodging corporations (including cruise lines ) instead of hardworking Americans, many of whom need help keeping their children fed and lights on due to job furloughs, unsympathetic landlords, and student loan officers. [Full Article...]

Fed Chief: 'We May Well Be in a Recession'

Fed Chief: 'We May Well Be in a Recession' Still, the Fed chair said the economy's path is largely dependent on the length and severity of the viral outbreak. "We know that economic activity will decline, probably substantially, in the second quarter, but I think many expect and I would expect economic activity to resume and move back up the second half of the year", he said. [Full Article...]


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