FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir (Reuters) – Dallas Fed President Robert Kaplan on Friday said small businesses can expect to be able to borrow money backstopped by the Fed “very quickly” under a new…
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‘Maximum bearish’: funds in record rush to cash in past week
LONDON (Reuters) – Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at “maximum bearish” could signal a big rally ahead. FILE PHOTO: A Bank of…
After Exposing Corruption in Russian Courts, He’s Now in Jail Himself
PERM, Russia — He always called shortly before the final court hearing, saying that the matter was urgent and had to be resolved by phone. “Do not punish Mr. Gorodilov, OK?” Sergei V. Davydov, a small-time businessman, told one judge, pretending to be a senior justice official. Adopting the peremptory tone often…
Of ‘Covidivorces’ and ‘Coronababies’: Life During a Lockdown
MONTREAL — After the pair had sanitized the tops of their beer cans, Morgane Clément-Gagnon, 33, gazed at the lanky musician she had newly met online, sitting two feet away on a bench in a Montreal park. The two had initially greeted each other by touching the tips of their sneakers. But…
Coronavirus, U.S. House, Stock Market: Your Friday Briefing
(Want to get this briefing by email? Here’s the sign-up.) Good morning. We’re looking ahead to today’s planned vote in the House on the coronavirus relief package. We’re also covering the U.S.’s status as the new world leader in infections, and the virus’s devastating toll in Italy. Image A diner in Hasbrouck…
Futures pare losses after weekly unemployment report
FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson (Reuters) – U.S. stock index futures pared losses sharply on Thursday despite the Labor Department’s data showing weekly unemployment claims soared to 3.3 million last week from 282,000 a…
U.S. offers $58 billion aid to airlines as governments seek to avert bankruptcies
SINGAPORE/DUBAI (Reuters) – Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules. AirAsia, the region’s biggest budget carrier, was the latest airline to announce sweeping…
Caterpillar halts operations at certain facilities, withdraws 2020 outlook
FILE PHOTO: The company logo for Caterpillar Inc. is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid (Reuters) – Construction and mining equipment maker Caterpillar Inc (CAT.N) said on Thursday it was suspending operations at certain facilities and withdrawing its…
U.S. weekly jobless claims surge to record 3.28 million
WASHINGTON (Reuters) – The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the longest employment…
Oil majors slash 2020 spending 20% after prices slump
LONDON (Reuters) – The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia. FILE PHOTO: The sun is seen behind a crude oil…
U.S. jobless claims balloon to record on coronavirus impact
NEW YORK (Reuters) – The number of Americans filing claims for unemployment benefits shot to record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the longest employment…
Danish charity network to 3D print protective visors
COPENHAGEN (Reuters) – A group of Danish entrepreneurs have started a charity network that stands ready to make up to 20,000 protective visors a day using 3D printers, in an attempt to meet rising demand from doctors and nurses combating the coronavirus outbreak. A view of the 3D printed protective visor designed…
Time to buy stocks again, market mavens say
(Reuters) – BlackRock and Credit Suisse reckon it is time to get back into equities after markets rallied this week following massive government and central bank stimulus packages to fight fallout from the coronavirus crisis. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16,…
Ford plans to resume production at some North American plants in April
DETROIT (Reuters) – Ford Motor Co (F.N) said on Thursday it planned to restart production at some plants in North America as early as April 6, bringing back its most profitable vehicles at a time when U.S. demand has slumped and the No. 2 U.S. automaker is conserving cash to survive the…
Hedge fund manager to lead Norway sovereign fund after $124 billion loss
OSLO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, named a London-based hedge fund manager as its new chief executive on Thursday and said it had lost $124 billion this year as stock markets tanked due to the coronavirus pandemic. FILE PHOTO: A general view of the Norwegian central bank in…
What You Can Do About Coronavirus Right Now
You have an essential role to play in slowing the spread of the new coronavirus. The good news is that small changes in personal behavior can buy time — slowing the outbreak, preventing hospitals from becoming overwhelmed and reducing cases until scientists develop treatments and, eventually, a vaccine. Here’s some practical advice…
Coronavirus, Jobless Claims, New Zealand: Your Thursday Briefing
(Want to get this briefing by email? Here’s the sign-up.) Good morning. We’re covering the Senate’s unanimous approval of an economic stabilization package to address the coronavirus pandemic, an anticipated surge in jobless claims, and an unexpected guilty plea in last year’s mosque attacks in New Zealand. Image Outside the Elmhurst hospital…