Economy

Thursday, April 23rd 2020 - 08:46 UTC
The Short-term Liquidity Line: A New IMF Tool to Help in the Crisis

By Geoffrey Okamoto – The COVID-19 pandemic has severely disrupted the global economy at every level. Across the world, financial conditions have tightened dramatically, with unprecedented portfolio outflows from emerging markets in terms of both size (a record of about US$100 billion) and speed, and markets effectively frozen in some cases. This has created sizable demand for U.S. dollar liquidity, with emerging markets facing sharp liquidity shortages.
Wednesday, April 22nd 2020 - 08:54 UTC
Another MPC member tests positive for COVID-19; Falklands' building industry resumes this Wednesday

The Falkland Islands government reported on Tuesday that the latest test results received by KEMH have shown one positive case for COVID-19 out of 18 swabs tested. The positive was for an individual at Mount Pleasant Complex, who is in isolation as part of the on-going MPC arrangements for dealing with cases.
Wednesday, April 22nd 2020 - 08:45 UTC
Netflix booming and with soaring profits thanks to global lockdown

Netflix on Tuesday reported soaring profits as paid subscriptions surged by almost 16 million at the streaming television service during lockdowns to slow the spread of the coronavirus pandemic.
Wednesday, April 22nd 2020 - 08:35 UTC
Immigration green card seekers face 60 days suspension, “to protect US jobs”

President Donald Trump said on Tuesday he was suspending immigration for green-card seekers for 60 days, arguing the controversial move would protect US jobs.
Wednesday, April 22nd 2020 - 08:03 UTC
Wall Street markets tumble for a second straight session on Tuesday

Wall Street stocks tumbled for a second straight session on Tuesday as worries about the chaos in the oil market overshadowed progress in Washington on additional relief for small businesses.
Wednesday, April 22nd 2020 - 07:45 UTC
US Senate approves bipartisan US$ 480 billion relief package for small businesses

The US Senate approved a bipartisan, nearly half-trillion-dollar relief package on Tuesday, with funding earmarked for devastated small businesses, overwhelmed hospitals, and a ramp-up of testing nationwide during the COVID-19 pandemic.
Wednesday, April 22nd 2020 - 07:36 UTC
Booming sales for hand soaps and detergents boost Proctor & Gamble profits

Procter & Gamble Co beat Wall Street expectations for quarterly profit on Friday as it reported its best U.S. sales growth in decades thanks to consumers stockpiling cleaning essentials in lockdowns against the coronavirus.
Wednesday, April 22nd 2020 - 07:24 UTC
Ten world leading banks sued for allegedly rigging prices in US corporate bond market

Ten of the world's largest banks, including JPMorgan Chase and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the US$9.6 trillion US corporate bond market, costing ordinary investors billions of dollars.
Tuesday, April 21st 2020 - 10:16 UTC
US oil price on Monday turned negative for the first time in history

The price of US oil has turned negative for the first time in history. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.
Tuesday, April 21st 2020 - 10:15 UTC
Major asset managers reject Argentina's proposal to overhaul US$ 66bn foreign debt

A group of major asset managers who are creditors to Argentina have rejected the government’s proposal aimed at overhauling US$66.2 billion of its foreign-law debt, saying it inflicted an unjust amount of financial pain on international bondholders.