Another coronavirus stimulus package of £30 billion ($37.6 billion) was announced by the United Kingdom with the aim of stopping the growing job crisis in the country and to prop up the economy of its worst recession in centuries. The… Read More ›
Economy & Finance
UK could opt for Australian approach, in case of cliff hanger Brexit
In a telephone call with Germany Chancellor Angela Merkel, British Prime Minister Boris Johnson said, Britain is prepared to leave the European Union on the same terms that Australia has with the bloc if it is unable to hammer out… Read More ›
Nissan secures $7.8 billion, aims for positive free cash flow in Q2
Going by Nissan Motor Co’s latest annual securities report, since April it has managed to raise $7.8 billion in financing from its creditors as it tries to shore up its cash reserves in the face of falling sales induced by… Read More ›
Paycheck Protection Program meant to support small businesses also supported large investment banks
According to official data released on Monday, the tens of millions of dollars U.S. lawmakers earmarked to assist small businesses during the Wuhan coronavirus-induced economic downturn, also went to investment banks who advise on corporate dealmaking. Some part of the… Read More ›
US Food Delivery Firm Postmates To Be Acquired By Uber For $2.65 Billion
With the aim of furthering its reach in the food delivery business and with the novel coronavirus pandemic spurring up demand for home delivered food, United States based ride hailing company Uber Technologies has decided to acquire Postmates Inc in… Read More ›
EU Threatens To Impose Tariffs On US Good Over Boeing-Airbus Subsidies Case
The 15-year row with the US over aircraft subsidies for Airbus and Boeing has been threatened to be escalated by the European Union unless a settlement is agreed to by the United States. There have been accusations posed against each… Read More ›
Amazon’s Prime Day To Be Postponed Till October Due To Pandemic
The novel coronavirus pandemic has forced e-commerce giant Amazon to postpone its marquee shopping event Prime Day. The company now plans to hold the event not before early October at the earliest. While previously planning on a September date for… Read More ›
Record 4.8 Million Jobs Created In the US In June
New jobs were created by companies in the American economy in the month of June at a record pace as companies hired more people following relaxation of novel coronavirus pandemic related restrictions. With addition to 4.8 million payroll jobs in… Read More ›
U.S. Federal Reserve buy mortage bonds worth $22.7 billion, sells none
The New York Federal Reserve Bank purchased agency mortgage-backed securities worth $22.705 billion during the June 25 to July 1 period. This is compared to $22.859 billion purchase in the previous week. The move is aimed at helping the housing… Read More ›
Retail sales surged in May as Australian economy reopens
On Friday, official data showed retails sales in Australia saw a record surge in May following a wide scale easing in coronavirus lockdowns which allowed entire sectors to reopen. The bounce back underscores growing confidence that consumer spending will not… Read More ›
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