Democrat Senator Feinstein of California and three of her Senate colleagues reported selling off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the stock markets. The three other senators are identified as Richard Burr of North Carolina, Kelly Loeffler of Georgia and James Inhofe of Oklahoma, all Republicans.
President Trump announced that he would meet with lawmakers on March 1oth to discuss economic relief for Americans affected by the coronavirus. More specifically, the President will discuss the following with lawmakers: A payroll tax cut Financial assistance for hourly wage earners Loans for small businesses Financial assistance for the airline and cruise industries […]
Stocks rose sharply in volatile trading today – regaining a big chunk of their losses from Wall Street’s worst week since 2008. The Dow Jones Industrial Average (DJIA) closed 1,293.96 points higher, or 5.1%, at 26,703.32. This move on a percentage basis was the DJIA’s biggest since March 2009. In addition, it was the largest-ever points […]
Health experts say that the $500 million World Bank scheme to help the poorest countries deal with a health emergency is “too little too late” for the coronavirus outbreak. These first Pandemic Emergency Financing (PEF) bonds were launched in 2017 by Jim Yong Kim, the World Bank’s president at the time, after the Ebola outbreak in Africa. […]
Markets Insider reports that Chinese stocks plunged on Monday as the Wuhan coronavirus spreads. The CSI 300 index fell as much as 9.1% – its worst opening in approximately 13 years. The Chinese financial markets had been closed since January 23 – due to the Chinese New Year holiday. “These are massive moves but entirely […]
The United States will become a net oil and oil product exporter this year thanks to continued growth in production combined with slacker domestic demand, the Energy Information Administration said in its 2020 Annual Energy Outlook.