IMF’s Georgieva urges tech companies to be responsible with pandemic windfalls

© Reuters. FILE PHOTO: FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a conference hosted by the Vatican on economic solidarity WASHINGTON (Reuters) – Big technology companies that are reaping gains as result of increased reliance on online systems during the coronavirus crisis should work to increase access to the digital economy for all, […]

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Fed’s Powell to appear on CBS’ ’60 Minutes’ on Sunday: CBS

WASHINGTON (Reuters) – U.S. Federal Reserve Chair Jerome Powell will appear on CBS’ “60 Minutes” news show on Sunday at 7 p.m., the network said on Friday, his second broadcast television interview since the outbreak of the coronavirus pandemic prompted the Fed into a series of emergency moves to stabilize the economy. Powell in a […]

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Canada to extend wage subsidy program until end-August: PM Trudeau

© Reuters. Canada’s Prime Minister Justin Trudeau arrives to a meeting of the special committee on the COVID-19 pandemic in the House of Commons on Parliament Hill in Ottawa OTTAWA (Reuters) – Canada will extend an emergency wage subsidy program for another three months to the end of August to help firms retain employees during […]

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Take Five: ZIRP to NIRP, a jump policymakers must consider

© Reuters. FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City (Reuters) – 1/SUB-ZERO Love them or loathe them, negative interest rates are back in the spotlight as ammunition-depleted central banks debate the pros and cons of going down the unorthodox […]

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Exclusive: Virgin Atlantic won’t restart flights until August if UK introduces quarantine – source

© Reuters. Outbreak of the coronavirus disease (COVID-19) in Manchester By Alistair Smout LONDON (Reuters) – Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14 day quarantine for travellers, according to a source at the airline. British government ministers have said they plan a […]

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After coronabonds, EU heads for clash over “corona” tax in next budget

2/2 © Reuters. FILE PHOTO: Special session of EU Parliament on coronavirus disease (COVID-19) in Brussels 2/2 By Jan Strupczewski BRUSSELS (Reuters) – After a row over joint borrowing to respond to the new coronavirus pandemic, the European Union looks set to clash over whether governments should assign new tax revenues to the EU to […]

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Belgium tells Lufthansa state aid possible if its conditions met

BRUSSELS (Reuters) – The Belgian government said on Friday it had told Lufthansa (DE:) it could only invest in its Belgian subsidiary Brussels Airlines if certain conditions were met, according to a joint statement with Lufthansa. Belgian prime minister Sophie Wilmes and key ministers said the government needed guarantees of a realistic and future-oriented business […]

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Blink or no Brexit deal, both UK and EU tell each other

2/2 © Reuters. A pound coins are placed on broken glass and British flag in this illustration picture taken 2/2 By Gabriela Baczynska and Guy Faulconbridge BRUSSELS/LONDON (Reuters) – Britain and the European Union traded threats on Friday over a Brexit free trade deal, warning that unless the other side gave ground there would be […]

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Exclusive: Review contradicts Boris Johnson on claims he ordered early lockdown at UK care homes

© Reuters. Outbreak of the coronavirus disease (COVID-19) in London By Andrew MacAskill and Stephen Grey LONDON (Reuters) – Prime Minister Boris Johnson told Britain’s parliament on Wednesday that his government moved swiftly to protect the country’s vulnerable care homes. Under increasing pressure to defend his record on fighting Covid-19, he said: “We brought in […]

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Virus-hit German economy plunges into recession

BERLIN (Reuters) – The German economy plunged into a recession after suffering its steepest quarterly contraction since the 2009 financial crisis as shops and factories were shut down in mid-March to fight the spread of the coronavirus, preliminary data showed on Friday. The 2.2% first-quarter contraction was a foretaste of worse to come. Economists expect […]

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Britain, EU dig in their heels in trade talks

© Reuters. A pound coins are placed on broken glass and British flag in this illustration picture taken BRUSSELS (Reuters) – Talks between Britain and the European Union on their new trade relationship made little progress this week, sources with the bloc said on Friday, with persistent differences on key areas weighing on chances for […]

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Swedish central bank to use Blackrock for corporate bond market analysis

© Reuters. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York STOCKHOLM (Reuters) – Sweden’s central bank will engage BlackRock’s Financial Markets Advisory for analysis work on the Swedish corporate bonds market, it said in a statement on Friday. The Riksbank said that while the situation on the market for […]

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Credit rating ‘Fallen angel’ danger at record high: S&P Global

LONDON (Reuters) – The number of companies or countries at risk of seeing their credit ratings cut to junk from investment grade has been pushed to a record high of 111 by the coronavirus pandemic, S&P Global analysis shows. The number of so-called ‘fallen angels’ has already reached 24 this year, impacting over $300 billion […]

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London’s Canary Wharf draws up plans for return to work: FT

© Reuters. The spread of the coronavirus disease (COVID-19) in London LONDON (Reuters) – London’s Canary Wharf has drawn up detailed plans to bring bankers, accountants and lawyers back to the financial district as the coronavirus pandemic eases, the Financial Times reported on Friday. The plans include introducing one-way routes, to daily deep cleaning, limiting […]

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Near-term U.S. economic outlook darkens, slow recovery to follow: Reuters poll

© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Massachusetts By Shrutee Sarkar BENGALURU (Reuters) – An already-dismal near-term U.S. economic outlook has darkened further in the latest Reuters poll of economists, and while a recovery is still forecast for the second half, the economy won’t come close to regaining the ground it […]

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India’s farmers gather record wheat crop, but cannot move it

© Reuters. Workers load sacks of wheat onto a supply truck at the Gharaunda Grains Market in Karnal By Mayank Bhardwaj GHARAUNDA, India (Reuters) – Late last month, Sukrampal had to beg and borrow farmhands from nearby villages to gather his part of the country’s largest-ever wheat harvest in Haryana state near New Delhi. Now […]

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Asian stocks set to rise on optimism of post-lockdown recovery, stimulus

© Reuters. An electronic stock information board displaying zero numbers on the latests stock prices before the opening of the first trading day after the week-long Lunar New Year holiday at a brokerage house in Shanghai By Suzanne Barlyn NEW YORK (Reuters) – Asian stocks were set to rise on Friday amid investor optimism about […]

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U.S. securities regulator scrutinizes public companies that took emergency loans: sources

10/10 © Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Massachusetts 2/10 By Koh Gui Qing NEW YORK (Reuters) – The U.S. securities regulator has asked public companies that received emergency government loans to prove they qualified for the funds and made consistent representations to investors about their need for the aid, two […]

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Nearly one million self-employed Britons apply for aid: The Sun

© Reuters. Workers cross the Millenium Bridge during the morning rush hour in the City of London in London (Reuters) – Nearly one million self-employed workers in Britain applied for a government aid programme that will give them a grant of up to 7,500 pounds ($9,168.75) at the end of second day of the scheme’s […]

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Trump says he doesn’t want to talk to Xi right now, could even cut China ties

2/2 © Reuters. FILE PHOTO: U.S. President Trump departs on travel to Camp David from the South Lawn at the White House in Washington 2/2 By Doina Chiacu and David Brunnstrom WASHINGTON (Reuters) – U.S. President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no […]

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Fed corporate bond program starts with a fizzle as total assets near $7 trillion

(Reuters) – The Federal Reserve’s stash of bonds and other assets grew to nearly $7 trillion this week, but several of its programs are seeing slackening demand from banks and investors and a much-anticipated corporate bond buying facility bought little in its first two days of operations. The Fed’s weekly report of holdings inside its […]

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Japan’s Slide Into Recession to Be Confirmed With Worse to Come

© Reuters. Japan’s Slide Into Recession to Be Confirmed With Worse to Come (Bloomberg) — Japan’s economy has slipped from sales-tax hangover into deep recession, official data is set to show on Monday, with worse to come even as coronavirus restrictions on activity are gradually lifted. Analysts see the economy shrinking at an annualized pace […]

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