Markets
Indian billionaire behind budget carrier IndiGo joins bidding race for Virgin Australia
Virgin Australia Holdings Ltd's administrator said 19 parties interested in purchasing the airline had been granted access to a data room as of May 11 and non-binding indicative offers are due on May 15, according to an affidavit. Borghetti's successor Paul Scurrah, who took the helm in 2019, was in the middle of a turnaround plan to reduce debt and costs when the coronavirus emerged and swamped a... [Full Article...]
United States dollar climbs near three-week high
And given all the work the Fed has done to ease the stress in funding markets, including opening swap-lines with foreign central banks and discount window measures, it's unlikely the Fed will advocate a move that could strain liquidity, Cloherty said. [Full Article...]
Unemployment jumps in April as coronavirus shuts swathes of businesses
Morrison said the number of people now covered by Jobkeeper, a A$1,500-a-fortnight wage subsidy programme paid to staff via their employers, now exceeds six million. The ABS said total hours worked fell by more than nine percent between March and April. While unemployment ticked up by 100,000 people, more than 594,000 jobs were lost. [Full Article...]
Fed to Begin Purchasing Corporate-Debt ETFs
It was first announced in March and has played an important role in keeping financial markets relatively calm since then. The move could initially see the Fed buy as much as $375 billion of corporate bond ETFs. Other factors that will be taken into account when deciding which ETFs to purchase include the share of bonds that are investment grade, the management style and the amount of debt held... [Full Article...]
Issues return to work guidance for employers
The guidance, which also applies to business now open, covers eight workplace settings which are allowed to start operating, from outdoor environments and construction sites to factories and food outlets. Employers will need to step back and consider all areas of the workplace and each aspect of the working day. CBI director-general Dame Carolyn Fairbairn said: 'Safety is at the heart of busines... [Full Article...]
Rep. Collins Supports Senate's Push for China Sanctions
The US alone has recorded close to 85,000 COVID-19 deaths. The report also singled out Missouri senator Josh Hawley, Arkansas senator Tom Cotton and Texas congressman Dan Crenshaw, all Republicans , for introducing legislation that would allow Americans to sue the Chinese government for damages caused by the disease. [Full Article...]
Mnuchin warns of 'permanent economic damage' unless United States reopens
In an interview on " Fox News Sunday ", Mnuchin reiterated White House insistence bailouts wouldn't be fair to Republican-run states. But the Treasury secretary said he expected improvement in the third and fourth quarters, and that "next year is going to be a great year". [Full Article...]
Twitter to let employees work from home indefinitely
The spokesperson said it would likely not be reopening its offices until September with a few exceptions, and environments will likely be somewhat different than before COVID-19 due to extra safety precautions to avoid the spread of germs. Amazon's move to allow employees to work from home for the next five months (starting on May 1) will have people returning to work on October 2, if they choose... [Full Article...]