Economy

• Monday, March 16th 2020 - 11:19 UTC

  G7 global rescue: Fed cuts rates to almost zero and launches US$ 700bn stimulus program

  

  The US has cut interest rates to almost zero and launched a US$ 700bn stimulus program in a bid to protect the economy from the effect of coronavirus. It is part of a coordinated action announced on Sunday in the UK, Japan, the Eurozone, Canada, and Switzerland.

• Saturday, March 14th 2020 - 09:07 UTC

  Two major sea food expos, Boston and Brussels, suspended because of coronavirus

  

  Two of the leading international seafood expos and fisheries business hubs have been suspended as a consequence of the coronavirus pandemic. Diversified Communications, which organizes the Seafood Expo North America in Boston said the event, scheduled for March 15/17 has been postponed.

• Friday, March 13th 2020 - 08:57 UTC

  Coronavirus panic in markets wipes US$ 14 trillion in a month

  

  Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide. Half a trillion dollars in liquidity from the U.S. Federal Reserve and the promise of more were not enough to calm the fear that has wiped some US$14 trillion from world stocks in a month.

• Friday, March 13th 2020 - 08:47 UTC

  South American stock markets suffer heavy losses on Thursday

  

  Argentina's main stock exchange crashed by nearly 10% on Thursday as markets continued to panic over the coronavirus pandemic. The fall wasn't as bad as Monday's that reached almost 14% but it continued the week's general downward spiral across the region.

• Friday, March 13th 2020 - 08:25 UTC

  Brazilian congress and Bolsonaro clash slumps the Real to below 5 to the dollar

  

  As if things were not difficult enough for markets in Brazil, whose stocks and currency are among the world's worst-performing this year, an unexpected twist in the country's fragile politics threatens to make the situation even tougher.

• Friday, March 13th 2020 - 08:20 UTC

  Wall Street financial firms have most of its staff working from home

  

  Working from home went from optional to mandatory across Wall Street this week as financial firms reported their first confirmed cases of coronavirus and the outbreak triggered a state of emergency in New York City.

• Friday, March 13th 2020 - 08:10 UTC

  Argentina soybean output forecast to reach 52 million tons, down 6% year on year

  

  Soybean output for Argentina -- the world's third-largest soy producer and exporter -- is forecast to be at 52 million tons, down 4.6% on February estimates and 6% year on year, in 2019-20 crop year (November-October), on dry conditions in Córdoba and Santa Fe, a Buenos Aires Grains Exchange report said on Thursday.

• Thursday, March 12th 2020 - 08:55 UTC

  Coronavirus: Trump locks out all travel from Europe for 30 days and pledges financial relief to small businesses

  

  President Donald Trump on Wednesday said the U.S. would restrict all travel from Europe for the next 30 days and use executive orders to offer financial relief to individuals and small businesses in his most extensive steps to date to address the crisis of the coronavirus.

• Thursday, March 12th 2020 - 07:48 UTC

  With local elections looming, Brazilian congress overturns Bolsonaro veto on social spending

  

  Brazil's Congress overturned a presidential veto on Wednesday in an ongoing battle over appropriations with President Jair Bolsonaro, doubling social assistance for elderly and disabled people that will cost an extra 20 billion reais (US$ 4.2 billion) this year.

• Thursday, March 12th 2020 - 07:35 UTC

  Coronavirus: Bank of England cuts interest rate 50 basis points to 0.25%

  

  The Bank of England (BOE), the UK's central bank, cut interest rates by 0.5 percentage points on Wednesday morning as part of an emergency response to the coronavirus, or COVID-19.