It has been a bloody last week that wipe out the entire gains since mid-December. Now with the bear appearing in full force, is this just a pullback to continue the uptrend or is this a potential change of trends? What can happen this week that can change the market? This week highlighted several futures, […]
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BBC News – Business- McDonald's sales dip just 3.4% as US stores stay openMcDonald's has closed stores in the UK due to the coronavirus, but most US outlets remain open.
- Coronavirus: Chancellor announces aid for charitiesRishi Sunak unveils a £750m package to keep charities afloat during the coronavirus pandemic.
- Coronavirus: 'Drop in global trade to be worse than 2008 crisis'The World Trade Organization (WTO) predicts a contraction of between 13% and 32% this year.
- Coronavirus: Wills 'being signed on car bonnets' amid lockdownSolicitors see a "massive rise" in demand but the need for two witnesses creates practical difficulties.
- Tesla cuts staff pay as coronavirus halts productionNon-essential workers will be placed on furlough without pay and executives will take a 30% pay cut.
- Coronavirus: Tesco tells people to visit stores to get foodThe supermarket says there is "simply not enough capacity" to supply everyone with online shopping.
- Coronavirus: More than 9 million expected to be furloughedNew analysis underlines a surge in demand for the government's Job Retention Scheme.
- Coronavirus: Insurance companies pause dividend paymentsInsurers have followed regulatory advice to scrap dividends during the coronavirus crisis
- Investors warned not to rush into travel and leisure stocksCinema chain Cineworld's share price has rocketed almost 50% while cruise ship firm Carnival has risen 22%.
- Coronavirus: Three perspectives on furloughingThree people react to the furloughing scheme put in place in response to the coronavirus outbreak.
- McDonald's sales dip just 3.4% as US stores stay open
- Reuters: Business News
- Crude futures climb ahead of OPEC+ meetingCrude futures rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand.
- Risk currencies buoyed by cautious hopes pandemic is peakingRisk-sensitive currencies climbed on Thursday on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies.
- Mexico auto sector to resume operations once U.S. industry gears upMexican President Andres Manuel Lopez Obrador said on Wednesday the domestic auto sector can resume operations shortly after the U.S. industry gears up from a coronavirus-led halt, to avoid further disruption to closely interconnected supply chains.
- Russia, Saudi to debate oil output cuts as U.S. resists joiningOPEC and Russia meet on Thursday to try to agree to record oil output cuts but their efforts to address the slump in prices wrought during the coronavirus pandemic have been complicated by mutual animosity and the reluctance of the United States to join the action.
- Asia shares set to follow Wall Street's rallyAsian shares were poised to track Wall Street's gains on Thursday on hopes the coronavirus pandemic is nearing a peak and that governments would roll out more stimulus measures.
- U.S. senators question Amazon CEO about firing of warehouse protest leaderFive Democratic lawmakers on Wednesday wrote Amazon.com Inc to raise concern about its firing of a worker who protested warehouse operations during the coronavirus pandemic, according to a copy of the letter seen by Reuters.
- U.S. GDP will contract 30% in second quarter, 5% in 2020: PIMCOThe forced closure of businesses across the United States and surge in unemployment due to the coronavirus pandemic will force U.S. growth to contract by 30% in the second quarter and 5% overall in 2020, Pacific Investment Management Co (PIMCO) wrote on Wednesday.
- Coming next from the Fed: How much for Main Street?The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
- After pandemic, Fed policymakers see slow U.S. recoveryThe U.S. economy is set for a deep slide in coming months with the coronavirus forcing businesses to shut and putting millions out of work, but Federal Reserve policymakers are also warning of a slugging recovery once the pandemic subsides.
- As delivery workers emerge as frontline soldiers, India's government warms to e-commerceThree days after India imposed a nationwide lockdown, Devender Singh revved up his motorcycle to deliver meat and eggs to customers - but his heart was in his mouth as he closed in on a police barricade on a deserted New Delhi road.
- Crude futures climb ahead of OPEC+ meeting