U.S. jobless claims exceed six million for second week in a row

World News - 5 hours 22 min ago
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
Categories: News

Fed rolls out $2.3 trillion to backstop 'Main Street,' local governments

World News - 5 hours 36 min ago
The U.S. Federal Reserve on Thursday announced a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses, the latest in an expanding suite of programs meant to keep the U.S. economy intact as the country battles the coronavirus pandemic.
Categories: News

Explainer: Next from the Fed - Help for Main Street

World News - 5 hours 37 min ago
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Categories: News

Stay the course: Vigilance urged as coronavirus curve flattens in New York

World News - 5 hours 45 min ago
Americans must persevere with social distancing now that their efforts are showing signs of slowing the spread of coronavirus, U.S. medical and state officials said on Thursday, as New York posted another spike in deaths while hospitalizations ebbed.
Categories: News

Wall Street rises on Fed's $2.3 trillion rescue plan

World News - 5 hours 54 min ago
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak.
Categories: News

Russia's Novak calls on all oil producers to join efforts

World News - 5 hours 59 min ago
Russian Energy Minister Alexander Novak said on Thursday that all the leading global oil producers should join their efforts to tackle falling oil demand.
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Russia, Saudi Arabia overcome differences holding up big oil cut deal: Dmitriev

World News - 5 hours 59 min ago
Russia and Saudi Arabia have overcome differences that had presented potential hurdles to a plan for major oil output cuts aimed at shoring up crude prices hammered by the coranavirus crisis, the head of Russia's wealth fund said on Thursday.
Categories: News

OPEC+ works on two-year oil cut deal, implemented gradually: sources

World News - 5 hours 59 min ago
OPEC and its allies, a group known as OPEC+, are discussing plans to cut oil production for at least two years with reductions implemented gradually, two OPEC+ sources said on Thursday.
Categories: News

Factbox: Even big OPEC+ cuts won't offset oil demand collapse - analysts

World News - 5 hours 59 min ago
OPEC and other major oil producers were due to discuss on Thursday big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
Categories: News

Instant View: Even big OPEC+ cuts won't offset oil demand collapse: analysts

World News - 6 hours 38 sec ago
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
Categories: News

UK PM Johnson makes progress in COVID-19 fight, but still in intensive care

World News - 6 hours 6 min ago
Prime Minister Boris Johnson continues to make progress, four days after being admitted to hospital with COVID-19, but he remains in intensive care as officials signalled there was no end in sight to an unprecedented national lockdown.
Categories: News

In Johnson's absence, UK foreign minister to lead applause for health workers

World News - 6 hours 15 min ago
Foreign Secretary Dominic Raab will lead the British government's show of appreciation for the nation's health workers on Thursday, standing in for his boss, Prime Minister Boris Johnson, whose shock admission to intensive care with COVID-19 has underscored the seriousness of the viral outbreak.
Categories: News

Explainer: What the Federal Reserve has done in the coronavirus crisis

World News - 6 hours 16 min ago
The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including slashing rates to zero and relaunching large-scale asset purchases.
Categories: News

EU nears deal on coronavirus package as Germany puts its foot down

World News - 6 hours 32 min ago
Prospects for a European Union deal on a package to support its coronavirus-battered economies brightened on Thursday as Germany put its foot down to end opposition from the Netherlands and to reassure Italy that the EU would show it solidarity.
Categories: News

Fed studying if new facility for small business loans might be opened to non-bank lenders

World News - 6 hours 35 min ago
The Federal Reserve may expand a program to back Small Business Administration loans to include non-bank lenders as a way to help speed distribution of $350 billion in loans considered critical to helping the smallest firms through the coronavirus crisis.
Categories: News

Oil rises 4% as OPEC+ works on output cut deal

World News - 6 hours 46 min ago
Oil prices gained nearly 4% on Thursday, but pulled back from an earlier surge as investors waited for details on negotiations between top producers hammering out an agreement for record supply cuts in response to the global fuel demand collapse due to the coronavirus pandemic.
Categories: News

Canada expects coronavirus deaths to soar; job losses hit 1 million

World News - 6 hours 55 min ago
Canada's coronavirus death toll is set to soar from the current 435 to as high as 22,000 by the end of the pandemic, health officials said on Thursday, while the economy lost a record 1 million jobs last month.
Categories: News

Global stocks jump on Fed stimulus, oil pulls back from earlier surge

World News - 6 hours 57 min ago
Global equity benchmarks moved higher on Thursday following signs of some success by governments and central banks which have taken additional steps to bolster their economies during the COVID-19 pandemic, while oil prices pulled back from an earlier surge.
Categories: News

Timeline: Fed's response - pandemic downturn vs financial crisis

World News - 7 hours 41 sec ago
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
Categories: News

Speed of coronavirus deaths shock doctors as New York toll hits new high

World News - 8 hours 13 min ago
New York state, epicenter of America's coronavirus crisis, set another single-day record of COVID-19 deaths on Wednesday, as veteran doctors and nurses voiced astonishment at the speed with which patients were deteriorating and dying.
Categories: News
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