Markets
Trudeau seeking U.S. decision on troops at border; calls possibility a mistake
The uncompromising comments on Wednesday were a surprise, since Ottawa has enjoyed smooth relations with U.S. President Donald Trump's administration over the past 18 months. There will be years of debates about whether Trudeau is recklessly locking us into generations of massive debt because of a public health emergency he escalated by reacting too slowly for reasons of political correctness, e... [Full Article...]
RBI rate cuts and loan repayment deferment brings relief to auto industry
According to historical data since 2003 provided by RBI, the lowest interest rate was 4.75% from 2009 to 2010, just after the global financial crisis. Q: Which are the loans covered under moratorium? All commercial banks, co-operative banks, all-India financial institutions and NBFCs (housing finance companies and micro-finance institutions). [Full Article...]
'Clear we have entered recession'
IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a "sizable rebound". The economic slowdown taking place around the world warrants the most potent policy response, Georgieva said Friday. Relief for emerging countries is of particular importance, the International Monetary Fund said in a statement. [Full Article...]
Market Recap: Friday, March 27
The Dow would need to hit 29,551.42, the high of February 12, to be technically in a bull market, he said. Asia Pacific's gains followed a strong performance from United States stocks on Thursday , which climbed despite the worst jobless claims data on record. [Full Article...]
Trump signs massive $2.2 trillion virus relief bill
The House scheduled three hours of debate, headed toward a possible vote around noon EDT (1600 GMT). Despite Massie's call for a recorded vote, the House had gathered enough members to D.C.to overrule him and pass the legislation Friday, even as many members, including two from MA, are self-quarantining after experiencing symptoms of COVID-19. [Full Article...]
Coronavirus: Donald Trump Issues Order To Force General Motors To Make Ventilators
The move escalated a feud involving the president, General Motors , several governors and medical experts over the severity of the crisis and just how many ventilators will be needed to handle it. Encouragingly, the next day Autoblog reported that " General Motors and medical equipment maker Ventec are speeding up efforts under a partnership code-named "Project V" to build ventilators at a GM ... [Full Article...]
Vermont jobless claims spike, smashing Great Recession high
For the week ending March 21, the Employment Development Department processed 186,809 claims, which is a 363% increase from the same week in 2019. Pennsylvania led the nation with almost 379,000 unemployment insurance claims in a single week. [Full Article...]
Bank of Canada cuts key interest rate to 0.25 per cent
The Bank Rate is correspondingly 0.50% and the deposit rate is.025% percent. Canada said on Friday it will cover 75% of wages for small businesses and the central bank cut its key interest rate for the third time this month to the lowest level in a decade, as officials sought to limit layoffs and bolster an economy hard hit by the coronavirus pandemic. [Full Article...]