By Cheng Leng and Engen Tham BEIJING/SHANGHAI (Reuters) – China’s efforts to pump 800 billion yuan ($118 billion) into companies via cheap bank loans to counter the economic impact of the virus outbreak have run into a snag: bureaucratic confusion. Communication issues, confusing eligibility criteria and different lending standards have […]
Rates on commercial paper continue to rise after Fed action
Economic Indicators19 hours ago (Mar 19, 2020 07:15PM ET) By Kate Duguid NEW YORK (Reuters) – The cost for companies to borrow short-term loans increased again on Thursday, suggesting investors remained skeptical that the Federal Reserve’s facility announced on Tuesday would significantly improve liquidity in the commercial paper market. The […]
Morocco to pay jobless, defer tax and loans for small business
Economic Indicators8 hours ago (Mar 19, 2020 05:25PM ET) RABAT (Reuters) – Morocco will pay a stipend to people who lose their jobs and defer tax and debt payments from small businesses to help ease economic pain related to the coronavirus, it said on Thursday. Morocco has confirmed 61 cases […]
U.S. jobless claims could top record 1.5 million next week: economists
Economic Indicators9 hours ago (Mar 19, 2020 04:10PM ET) By Lucia Mutikani WASHINGTON (Reuters) – A wave of layoffs at restaurants, bars and hotels, as efforts to contain the coronavirus pandemic bring much of everyday American life to a halt, could drive new applications for U.S. unemployment benefits to a […]
Echoing recession fears, gold’s value rockets versus silver, copper
Economic Indicators11 hours ago (Mar 19, 2020 02:20PM ET) LONDON (Reuters) – Gold’s relative value to copper has surged to its highest in more than a decade and its worth versus silver is the highest on record as the spread of coronavirus hammers metals with industrial applications. The rapid change […]
Rich nations pump aid into battered economy as coronavirus deaths in Italy overtake China
11/11 (C) Reuters. A guard outside the Royal Palace wears a protective mask as precaution against the coronavirus outbreak in Phnom Penh, Cambodia 2/11 By Guy Faulconbridge and James Mackenzie LONDON/MILAN (Reuters) – The world’s richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned […]
U.S. current account deficit tightens sharply in fourth quarter
Economic Indicators13 hours ago (Mar 19, 2020 12:10PM ET) WASHINGTON (Reuters) – The U.S. current account deficit narrowed sharply in the fourth quarter as the Trump’s administration’s trade war with China led to the biggest reduction in the goods import bill since 2009. The Commerce Department said on Thursday the […]
Prime money-market funds could slow redemptions as they bleed assets
Economic Indicators14 hours ago (Mar 19, 2020 11:30AM ET) BOSTON (Reuters) – U.S. prime money-market funds have lost more than 10% of their assets and the prospect of funds slowing customer redemptions is rising amid unprecedented market turmoil, top credit-rating agency Moody’s Corp said on Thursday. “The risk of funds […]
Manufacturing in Philadelphia Fed Region Drops by Most on Record
Economic Indicators16 hours ago (Mar 19, 2020 08:59AM ET) (Bloomberg) — The Federal Reserve Bank of Philadelphia’s survey of factories showed conditions in the area deteriorated in March by the most on record, indicating the heavy toll on demand from the novel coronavirus battle extends to more of the nation’s […]
U.S. Initial Jobless Claims Increase to 281,000, Highest Since 2017
Economic Indicators17 hours ago (Mar 19, 2020 08:32AM ET) (C) Reuters. By Noreen Burke Investing.com – The number of Americans applying for initial unemployment benefits rose more than expected to 281,000 in the latest week from a revised 211,000 the previous week, the U.S. Labor Department said on Thursday, indicating […]