Markets
Sensitive information from Zoom App sold on dark web
According to BleepingComputer , which spoke to cybersecurity company Cyble , there are now over 500,000 Zoom account credentials being sold, and while majority seem to stem from earlier, unrelated hacks, some of them are genuine. The leaked credentials also belong to accounts from companies like Citibank, Chase, and educational institutions. Bleeping Computer also got in touch with some of the... [Full Article...]
Asia stocks set for mixed start ahead of earnings
As earnings season kicks off this week, traders are looking for a sense of how bad the hit to global profits could be as the coronavirus pandemic upends the global economy. In Europe, Germany's DAX climbed 1.05 percent while France's CAC rose 0.36 percent. The Bloomberg Dollar Spot Index was little changed. However, their shares rose between 1.3% and 1.5% in premarket trading after plunging 29... [Full Article...]
South African Reserve Bank cuts repo rate by another 100 basis points
The cut will be effective from April 15. The bank's decision will also lower the prime lending rate to 7.75%. Keeping things like repo and interest rates at a low rate for an extended period of time can reduce the number of options the government has to stimulate the economy: The avenue eventually becomes a dead end. [Full Article...]
Trump's Claims It's The President's Decision If States Reopen
The president was quizzed about claiming he had the legal authority to override a governor's decision not to lift a stay-at-home order, as the White House appears to be gearing up to send people back to work in coming weeks. New Jersey Gov. Phil Murphy, a Democrat, stressed the efforts would take time . "We can not act on our own", Murphy wrote. Newsom, meanwhile, issued a similar announceme... [Full Article...]
China March exports slump slows to 6.6% y/y, imports down 0.9%
That compares with a growth of about 18% in the same month last year.Coal imports fell from the first two months to 27.8 million tons in March, but were still nearly 19% higher than a year ago. "Imports should hold up better given that domestic demand looks set to stage a further recovery in the coming months". The Association of South East Asian Nations became China's biggest trading partner bl... [Full Article...]
NY, others developing post-coronavirus economic restart plan
Andrew Cuomo said . "Everyone is very anxious to get out of the house, get back to work, get the economy moving", Cuomo said. "We're all learning, right?" He said the outbreak has not overwhelmed the healthcare system and the state has controlled the spread. [Full Article...]
Amazon seeks 75,000 workers as orders pile up amid pandemic
Now, the e-commerce giant faces the daunting task of hiring more people even as calls grow for it to shut facilities. Amazon said it now expects to spend more than $500 million in pay increases for workers, up from its previous expectation of $350 million. [Full Article...]
SoftBank shares fall 3.5% after flagging first FY loss in 15 years
The fund's poor performance, which SoftBank attributed to "the deteriorating market environment" as company valuations are hammered by the coronavirus crisis, is a major blow to chief executive Masayoshi Son's attempts to revive his reputation among investors. [Full Article...]