Economic news

Oil gained over $1 on Tuesday as investors began bargaining due to recent steep declines in prices caused by the pandemic and the Saudi Arabia-Russia price war. However, fears of recession still loom over the market. Brent crude went up 1.8%, or 55 cents, at $30.60 per barrel, following a high of $31.25. U.S. West […]

The Bank of Japan is awaited to acquire other steps to balance the markets and minimize the economic impact from the coronavirus outbreak in an emergency meeting on Monday. They were connected with other central banks and they also tried to calm the investors. The Japanese central bank was prepared to increase asset purchases and […]

Oil continued losses on Monday as the Federal Reserve imposed an emergency rate cut to ease global financial markets that are panicked and caught in between the price war between Russia and Saudi Arabia. Brent crude dropped $1.13, at $32.72 per barrel, following a 25% fall last week. U.S. crude was down 72 cents, at […]

The Federal Reserve is planning to launch a massive rollout of monetary easing in the financial markets to combat the economic damage brought by the pandemic spread of the new coronavirus. Investors’ fears seemed to have deepened by this move. Market investors see the monetary easing move as an indicator of how tremendous the economic […]

The U.S. consumer product companies shifted their production scheme by halting the run of other products and maximizing the production of essential products that are highly demanded amid the virus outbreak. Traditional retailers and stores have warned against hoarding supplies including toilet paper, cleaning items, and sanitizing products that cause scarcity of supply in the […]

Boaz Weinstein’s primary hedge fund Saba Capital Management LP disclosed a 33% gain in March amid a market severely affected by the coronavirus pandemic. The profits added its year to date gain up to 67%, a letter to its clients said. Saba’s Tail Fund, which pledged market insurance in the event of markets collapsing, performed […]

Members of European Union finance ministries on Monday have decided on a coordinated economic response to the coronavirus after wide speculation that its effects could potentially push the EU into a recession. The move is currently comprised of various procedures taken by its 27-nation bloc as well as the halting of limits on epidemic-related spending […]

Stock markets and the U.S. dollar reeled on Monday as the Federal Reserve cut interest rates as an emergency measure and as other central banks offered cheap dollars in an attempt to avoid a halt in lending markets globally. The sudden policy measures were issued to ease the pandemic’s impact on global economy as more […]

Canada’s Prime Minister Justin Trudeau will be isolated for two weeks because his wife, Sophie Gregoire Trudeau, had confirmed positive for coronavirus on Thursday. The outbreak led the province of Ontario to screen the schools to limit the spread. Sophie Gregoire Trudeau recently came back from London and showed flu-like symptoms. “She was tested for […]

A female diplomat in New York has tested positive for coronavirus on Thursday. She is from the Philippines and the first known case of coronavirus at U.N. New York headquarters. “As of today, the Philippine Mission is in lockdown, and all personnel are instructed to self-quarantine and to seek medical attention should they develop the […]