Markets
Airbnb to Cut 25% of Work Force
Chesky also said that Airbnb will narrow its focus, suspending projects related to transportation and television production and scaling back efforts to market hotels and luxury properties. In the United States, the company will cover 12 months of health insurance, while in all other countries, it will cover health insurance costs through the end of this year, Mr Chesky said. [Full Article...]
USD/TRY: Turkish Lira hits record low as country's FX reserves slide
He reiterated that Turkey has no plans to negotiate a financing program with the International Monetary Fund (IMF ). The Turkish currency has lost 18 percent of its value against the dollar since the beginning of the year. Nikolay Markov, senior economist at Pictet Asset Management, told the newswire it was "just a matter of time" before the lira's weakness and low reserves lead to a crisis in ... [Full Article...]
Coronavirus: US unemployment claims hit 33.3 million amid virus
Schools and nonessential businesses have been closed in NY since March. "Parts of the economy are already starting to reopen", he said . As more countries start to remove the draconian limits on business and public life, investors are trying to gauge how quickly the global economy might bounce back. [Full Article...]
Small businesses cut jobs while waiting for government loans
Unemployment has skyrocketed in the USA during the pandemic, but investors have mostly discounted the glaringly negative headlines and bought highflying technology-related shares, with modest gains in other sectors indicating that investors are looking ahead to economic growth resuming as businesses reopen after the lockdowns created to slow the spread of the coronavirus. [Full Article...]
One of Trump’s personal valets tests positive for Covid-19
On Thursday, the White House confirmed one of the President's staffers - a USA military member responsible for attending to his personal needs in the Oval Office - had tested positive for coronavirus . The New York Times reported last week that Trump and Vice President Mike Pence are frequently tested for the virus, while others in the administration are tested weekly. [Full Article...]
Trump and Putin discuss coronavirus, China arms pact during call
The Trump-Putin call, which marked the 75th anniversary of the end of World War Two in Europe, also covered working to defeat the new coronavirus outbreak as well as other issues, the White House said . Russia's culture minister has tested positive for coronavirus, her spokesman said on Wednesday (May 6), as the country's total number of cases surpassed 165 ,000. [Full Article...]
Dairy industry unites to launch £1m consumer campaign
The Dairy Farmers of America are also working to get milk to people in need, including to non-profits like the Greater Boston Food Bank, which, NBC reported, has seen demand almost double during the pandemic. Some 500 dairy farmers left the industry a year ago and many did so because the cost of production was above the market price. RABDF chairman Peter Alvis said: "We would like Defra to k... [Full Article...]
Ottawa Announces $240-Million to Bring Health Care Services Online
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New mental health services will provide resources on ways to manage stress, support from mental health professionals, and tools for people in marginalized communities. The company has identified antibodies that could be used for COVID-19 treatment, and human trials could take place as early as July. She let out a laugh when asked if she was afraid of contaminating the prime minister of a G7 coun... [Full Article...]