Markets

Coronavirus could inflict $8.8 trillion in global losses: Asian Development Bank

Coronavirus could inflict $8.8 trillion in global losses: Asian Development Bank The ADB's projection, equivalent to 6.4% to 9.7% of global gdp, was even worse than forecasts in April when it claimed the global economic climate could endure in between $2.0 trillion and also $4.1 trillion in losses, depending upon the length of time control steps were in area. [Full Article...]

Australia must brace for more 'hard news', says PM as employment slumps

Australia must brace for more 'hard news', says PM as employment slumps Prime Minister Scott Morrison addressed the media this afternoon following National Cabinet, where he emphasised the economic potential for the domestic tourism industry, with Australians that might otherwise travel elsewhere, now looking to holiday locally. [Full Article...]

Interested in Virgin Australia, says Rahul Bhatia’s InterGlobe

Interested in Virgin Australia, says Rahul Bhatia’s InterGlobe Dick said the government's investment in the collapsed airline could take the form of "a direct equity stake, a loan, guarantee or other financial incentives". "Premier (Annastacia) Palaszczuk has nearly bankrupted Queensland, and now in the middle of a crisis they want to buy an airline", the MP for the Brisbane seat of Dixon tweeted. [Full Article...]

Sensex tumbles 400 points, Nifty below 9,300; Infosys falls 5%

Sensex tumbles 400 points, Nifty below 9,300; Infosys falls 5% Widespread disappointment over the contours of the stimulus package amid grim global cues led to the Sensex crashing 886 points on Thursday. Its NSE counterpart Nifty dropped 53 points or 0.58 per cent to 9,089. Foreign portfolio investors offloaded equities worth Rs 283.43 crore in the capital market on Wednesday, provisional exchange data showed. Rupee slipped 11 paise to 75.57 against USA d... [Full Article...]

Trump Looking ‘Very Strongly’ at Chinese Stocks on US Exchanges

Trump Looking ‘Very Strongly’ at Chinese Stocks on US Exchanges The legislation was introduced by Senator Lindsey Graham and eight other senators on Tuesday. We could do things, we could cut off the whole relationship. Mexico also reported a deteriorating situation, with 2,409 new infections, the biggest one-day rise in cases since the pandemic began. Collins said that he's asked frequently about China in roundtables and when he has spoken to Americans ac... [Full Article...]

Coronavirus: Amid spat, Australia says China silent on urgent trade talk request

Coronavirus: Amid spat, Australia says China silent on urgent trade talk request Last month Australia called for an independent worldwide inquiry into the origin of the coronavirus just a few days after China floated putting an 80 percent tariff on Australia's barley shipments. Australia is reportedly looking at limiting trade of strategically important goods with China in response to - what it calls - "economic coercion". [Full Article...]

Self-employed income support scheme launches today

Self-employed income support scheme launches today From this morning self-employed individuals or members of partnerships whose business has been adversely affected by coronavirus will be able to apply for a Self-Employment Income Support Scheme (SEISS) grant worth 80% of their average monthly trading profits. [Full Article...]

WTO chief Roberto Azevedo resigns amid appeals dispute with United States

WTO chief Roberto Azevedo resigns amid appeals dispute with United States Azevedo's possible premature death would come in a time once the COVID-19 pandemic has pushed the worldwide market and global trade into chaos, enduring slowdowns not seen as the Great Depression of the 1930s. "We've been treated very badly". He pointed to "existing tensions, in particular the scathing criticism from the US president, violations of many agreements, the US-China trade war and the... [Full Article...]


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