Money

Trump attacks the media, boasting the White House briefing rating

Trump attacks the media, boasting the White House briefing rating The ad is now running on 75 local stations, plus 11 cable systems, across Florida, Michigan, Pennsylvania and Wisconsin. Trump's re-election campaign said that quote was referring to "Democrat criticisms and politicization of the federal response to the public health crisis" and demanded the ad be taken down for falsely asserting he used the term to describe the coronavirus. [Full Article...]

Hard-hit cruise lines don't get USA coronavirus stimulus money

Hard-hit cruise lines don't get USA coronavirus stimulus money However, major cruise operators have based their companies overseas as a way of avoiding paying federal income taxes and some US regulations. American-owned cruise ship companies and owners of smaller passenger vessels and port facilities are expected to qualify for the assistance. [Full Article...]

Questions about the $2 trillion stimulus package

Questions about the $2 trillion stimulus package But the payments would start phasing out for individuals with adjusted gross incomes of more than $75,000. As income goes up, the payment amount goes down, dropping $5 for every $100 of income over those limits. Keep in mind that a tax credit is a dollar-for-dollar reduction of the income tax you owe thus reducing the amount of income tax owed in a given year. [Full Article...]

France coronavirus death toll surges past 1000

France coronavirus death toll surges past 1000 France's Prime Minister Edouard Philippe has introduced stricter rules to abide by the advice of the country's Conseil d'Etat court. Nice and a number of other cities have already imposed curfews. Mr VĂ©ran also said France would strive to follow World Health Organisation (WHO) recommendations to increase coronavirus testing. The lockdown was initially created to last around 15 days. [Full Article...]

Demand Destruction, Rising Production Could Push WTI Prices to $15

Demand Destruction, Rising Production Could Push WTI Prices to $15 US gasoline futures fell more than 20 per cent to $0.4789 a gallon, the lowest on record. Oil has been whipsawed this week as investors weigh further stimulus measures to combat the impact of the coronavirus pandemic against collapsing demand and an impending supply flood from the world's biggest crude producers. [Full Article...]

Standardized testing - like the SOLs - will not be enforced

Standardized testing - like the SOLs - will not be enforced Neither students nor teachers need to be focused on high-stakes tests during this hard time. "Students are simply too unlikely to be able to perform their best in this environment". They've been going back and forth, schools open, schools not open", he said. "MDE will not be granting seat time waiver requests during this time", the memo from Deputy State Superintendent Vanessa Kessler said. [Full Article...]

U.S. Futures Drop, Yen Gains, Bond Yields Rise: Markets Wrap

The S&P 500 dropped 12%, marking its worst day since December 2018, while the Nasdaq Composite also faced its worst day ever as it fell 12.3%. The S&P 500 has shed almost 30 percent since setting a record less than a month ago, and its at its lowest point since the end of 2018. [Full Article...]

Saudi Aramco plans to cut spending in 2020 as profit decreases

Saudi Aramco plans to cut spending in 2020 as profit decreases The oil giant cited lower crude oil prices and production for the decline in profit . But it is the threat to the U.S. shale oil industry, which is carrying debts of US$86 billion, that has Wall Street investors anxious. energy historian Daniel Yergin said last week in a Reuters story. He adds that this is bound to bring prices lower. The Saudis have tried a tactical flooding of the market b... [Full Article...]

Google asks North America employees to work from home due to coronavirus

Google asks North America employees to work from home due to coronavirus A series of events of worldwide standard in the US takes place, should be canceled to prevent the spread of the virus. Alphabet's CFO, Ruth Porat reportedly urged every employee to be prepared for any sudden announcement of work from home and asked them to start taking their laptop home, every day after work. [Full Article...]

Oil Markets Fall as Trump Restricts Trips From Europe

Oil Markets Fall as Trump Restricts Trips From Europe West Texas Intermediate fell 1.7 percent to about $33 a barrel while Brent crude was off 1.7 percent at $36 a barrel . U.S. crude oil plunged another 6% to $31 a barrel on Thursday after President Donald Trump announced the travel restrictions with Europe in a bid to contain the coronavirus pandemic. [Full Article...]

Trump Visits CDC After Coronavirus Fears Throw Schedule Into Chaos

Trump Visits CDC After Coronavirus Fears Throw Schedule Into Chaos Tedros Adhanom Ghebreyesus, said on Tuesday. As of 6 p.m. Saturday, there were four positive tests for coronavirus in New Jersey (three in Bergen County and one in Camden County), according to the state's health department. "I don't think it's a big deal". That prompted one of the show's panelists to interject and ask: "So, you're saying they were low information?" But so far, the presiden... [Full Article...]

Supermarkets Limit Toilet Paper After Panic Buying Leads To Shortages

Supermarkets Limit Toilet Paper After Panic Buying Leads To Shortages Three women were caught on video physically assaulting each other over a pack of toilet paper. A shopper involved in the fracas says to another woman at the helm of the overflowing trolley that she just wants one pack. The "reusable" toilet paper roll is also for sale in the Australian Handmade Textiles for just AUS $25. Panic buying: Why are people panic buying toilet rolls? "This toile... [Full Article...]

Again, OPEC approves 1.5 million barrels daily cut

Again, OPEC approves 1.5 million barrels daily cut Ministers from OPEC and OPEC + arrived Friday at the Vienna-based headquarters of the Organization of Petroleum Exporting Countries, with Iranian Oil Minister Bijan Namdar Zanganeh saying he expected a hard meeting. Russia , however, wasn't present at that gathering and wants to maintain current output cuts until June. The collapse of talks between the world's largest oil producing nations... [Full Article...]

South Africa's confirms first case of coronavirus - health ministry

South Africa's confirms first case of coronavirus - health ministry Amazon told GeekWire on Wednesday that an employee who worked from its Seattle headquarters tested positive for the novel coronavirus (COVID-19) this week. However, employees in Seattle are also being encouraged to work from home until the end of the month as Washington remains the USA state hit hardest by the COVID-19 outbreak. [Full Article...]

Dow surges 5% on hopes for central bank help on the economy

Dow surges 5% on hopes for central bank help on the economy The Nasdaq Composite shed 1.8%. The S&P 500 recorded two new 52-week highs and 13 new lows, while the Nasdaq recorded 14 new highs and 35 new lows. Yields tend to rise with expectations for the economy and inflation. They also have wide-ranging effects on borrowing costs and bank profitability. The tide also rose for stocks around the world on Wednesday. [Full Article...]

Amazon Worker in Quarantine With Coronavirus in Seattle, Washington

Amazon Worker in Quarantine With Coronavirus in Seattle, Washington The company said it defined close contact as "closer than 6ft/2 meters over a prolonged period of time". The death toll attributed to virus in the United States has risen to nine , many linked to a nursing home in the Seattle suburbs, while the overall number of infections shot past 100 including cases on both coasts and the Midwest. [Full Article...]

Corona beer victim of coronavirus outbreak

Corona beer victim of coronavirus outbreak That makes for awkward timing as the brand launches its new line of Corona hard seltzers . "We believe, by and large, that consumers understand there's no linkage between the virus and our business", Maggie Bowman, a representative for Constellation Brands , told Business Insider in January . [Full Article...]

Traders expect Fed to cut rates to buffer USA economy

Federal Reserve Chairman Jerome Powell hinted Friday that the central bank could cut interest rates next month. Repeating his message of recent weeks, Powell said: "The fundamentals of the United States economy remain strong". Until the chair spoke Fed officials had largely focused on the fact that the virus outbreak had not seemed to dent USA economic data, and that they expected the out... [Full Article...]

Washington state patient first in the US to die from new virus

Washington state patient first in the US to die from new virus The news comes just two days after the first report of likely community spread of the virus in the US, in Solano County, California . But convinced that the number of cases will grow, health agencies are ramping up efforts to identify those who might be sick. [Full Article...]

Bets on Interest Rate Cuts Escalate

Bets on Interest Rate Cuts Escalate Against a basket of other currencies the dollar slipped 0.375% to 98.956, after reaching a three-year high of close to 100 last week. Meanwhile, the U.S. And to counter the tendency for inflation to be low, he said, the Fed must "convey to the public that periods with above-target inflation are essential to achieving the dual mandate goals over the long run", Evans said. [Full Article...]


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