Markets
Chancellor unveils 100% state-backed loan scheme for UK's smallest businesses
However, thousands of businesses across the country complained that the CBILS scheme was cumbersome and included too many financial hurdles that many businesses were unable to overcome. The Bank continues to review applications from a wide range of lender types - from PRA-regulated banks, to platform lenders, debt funds, invoice finance lenders, asset finance lenders and responsible finance lender... [Full Article...]
HSBC Puts 35,000 Job Cuts On Hold Amid Coronavirus Pandemic
The Asia-focused bank also pushed back parts of its restructuring program until at least the end of the year. Newly appointed Chief Executive Officer Noel Quinn's plan to boost profitability at Europe's biggest lender is being curtailed by the virus outbreak that has also shaken peers worldwide. [Full Article...]
US Oil Benchmark Drops Another 13%, Completely Erases Last Week's Recovery
Negative WTI put options for June traded for the first time Monday, according to Nymex data. For the first time in history last week United States oil prices turned negative before rising again. The United States Oil Fund LP (USO), the largest oil-focused US exchange-traded product, said it would further shift its holdings into later-dated contracts. [Full Article...]
BMW iX3 electric SUV leaked ahead of debut
The EV (electric vehicle), based on the BMW X3 , is expected to be officially unveiled in the coming days or weeks, with an Australian launch confirmed for 2021. One visible deviation is that the two BMW kidneys at the front are again separated by a chrome bar. In contrast, the iX3 is expected to pack only 74 kwh of battery capacity, which is lower than what potential rivals are already packing... [Full Article...]
Weekend Bulls: Bitcoin (BTC) Surges to $7,700, Attempts $8,000 Resistance
BTC impressively moved from $6,800 to $7,700. This puts to an end the three weeks old fluctuations between $6,600 and $7,400. Expectantly, another breakthrough over $7,700 area will catapult the coin to reach the highs of $8,500 and $9,000. [Full Article...]
Coronavirus: Greggs to begin reopening shops amid lockdown
Earlier this month, Burger King, KFC and Pret A Manger reopened certain restaurants, mainly for delivery only. Roger Whiteside, chief executive of the business, said he hopes the trial will inform the business about what changes need to be made to operate safely and meet social distancing guidelines. [Full Article...]
BOJ expands easing steps to cushion virus' economic impact
The biggest impact of the BOJ's changes to the monthly plan will be for the 1-to-3 and 5-10 year zones. "The government and the central bank obviously need to work together, particularly at a time like this", Kuroda told a news conference. [Full Article...]
Rent relief program could cost approximately $2 billion: Morneau
The program now will be eligible for small businesses to lower rents in April, May and June. Canada began a staggered loosening of pandemic restrictions on Monday as Prime Minister Justin Trudeau urged vigilance and baby steps to avoid a COVID-19 resurgence. [Full Article...]