U.S. President Donald Trump may be considering lifting social restrictions to ease the downward pressure on the economy due to the new coronavirus, named COVID-19, but a former NATO commander is strongly advising against it. …read more […]
Fallout from the coronavirus outbreak may finally lift the curse of the safe-haven yen for Japan but policymakers fear fiscal laxity could lead to a currency free-fall eventually, undermining efforts to cushion the economy from the pandemic.
(Bloomberg) — Vince McMahon is selling part of his stake in World Wrestling Entertainment Inc. through Morgan Stanley at $38 per share, people familiar with the matter said.The overnight deal priced 2.26 million shares at the midpoint of the $37.75 to $38.25 offering range, the people said. That’s a 2.66% discount to Tuesday’s closing price.The share sale follows a 40% decline in WWE this year amid shutdowns of live events to stop the spread of the coronavirus. McMahon’s XFL football league also canceled the remainder of its season on Friday.WWE’s chief executive officer is working with an undisclosed bank to …read more […]
U.S. stock index futures fell on Wednesday after a strong rebound in the previous session, as an imminent $2 trillion rescue package failed to completely allay investor concerns over the economic threat from the coronavirus pandemic.
India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters.
(Bloomberg Opinion) — The need for any kind of treatment to help stem the coronavirus outbreak is acute as cases and hospitalizations continue to mount. But there’s a strong need to balance urgency and evidence.President Donald Trump’s cheerleading of chloroquine and its derivative hydroxychloroquine — older malaria drugs with limited evidence of efficacy in Covid-19 — is arguably dangerous. As he touts the drugs in press conferences, people are reportedly poisoning themselves via self-administration and hoarding it to create hazardous shortages, making the prudent use and evaluation of it as a treatment more difficult. That said, sitting on medicines …read more […]
Target and Kroger undertake new efforts to fight the spread of coronavirus in their stores. …read more […]
Target Chairman and CEO Brian Cornell weighs in on the state of his business amidst the coronavirus pandemic. …read more […]
British supermarket Sainsbury’s said on Wednesday it would help its smaller suppliers during the coronavirus emergency by paying them immediately and making finance available.
German conglomerate Thyssenkrupp will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.
Top news and what to watch in the markets on Wednesday, March 25, 2020. …read more […]
The head of the European Central Bank Christine Lagarde asked euro zone finance ministers at a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of “coronabonds” to help fight the epidemic, two officials said.
A rebound in world stocks reached a lofty 11% on Wednesday and commodities made gains too, as coronavirus-battered markets leapt on news of a $2 trillion U.S. fiscal stimulus package.
(Bloomberg) — As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.The world’s biggest oil importer is saving about $250 million a day after crude prices crashed this year amid dual demand and supply shocks. It’s coming at an opportune time for its economy, which is expected to post the slowest growth since the end of the Mao era. Should low prices last, benefits could include a boost in consumer spending, a stronger trade balance …read more […]
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