Economic news

The U.S. Federal Reserve created a new small-business loan program by allowing banks to exchange those loans for cash at the U.S. central bank. This program aids banks ease their concerns of having to hold low interest loans.  The Fed will announce further details of the new term financing arrangement for loans under the Payroll […]

The New York Stock Exchange is in talks with regulators to ease its listing requirements for companies that have failed compliance due to the market strain caused by the coronavirus. The U.S. Securities and Exchange Commission declined the initial proposal filed by the NYSE to forego listing requirements until June, said Farrell Kramer, spokesman for […]

Private equity companies Silver Lake and Sixth Street Partners will invest $1 billion to Airbnb on Monday. There were other 20 investors that also approached Airbnb about investing in the company. The debt and equity investment sum up Airbnb’s cash reserves to $4 billion. It will support the finances of the company amid virus outbreak. […]

Facebook Inc will start surveying some U.S. users on Monday to help researchers from Carnegie Mellon University generate new insights on how to respond to the pandemic crisis. “Heat maps” of self-reported virus infections were also included in the survey. Facebook users will see a link at the top of their News Feed that will […]

Gold prices extended gains in Asia on Tuesday after new reports of declining COVID-19 cases improved investor sentiment. This development also led many to anticipate additional global measures to put a floor under a virus-hit economy. Gold Futures gained 1.43% at $1,717.9 per ounce at 9:24 PM ET (2:24 AM GMT) following a 3% surge […]

Asian equity markets extended gains on Tuesday after the United States, Italy, and Spain reported a steady decline in COVID-19 cases over the weekend. South Korea’s KOSPI inched up by 0.95% at 10:23 PM ET (3:23 AM GMT) as Samsung Electronics exceeded expectations after announcing that their first-quarter profits reached near $5.2 billion. Japan’s Nikkei […]

Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung expected a total of 6.4 trillion won (equivalent to $5.2 billion), to be its operating profit in the quarter ended […]

Oil prices hiked on Tuesday amid optimism that the world’s top crude manufacturers will agree to reduce output production. The deal is necessary as the coronavirus contagion disrupts the world economy. However, analysts warned that the scheme may only do little in increasing oil demand. Brent crude LCOc1 gained 73 cents, equivalent to 2.2%, and […]

The British pound fell against the euro and dollar on Monday after Prime Minister Boris Johnson was hospitalized due to relentless symptoms of COVID-19. The yen fell against the dollar after news that Japanese Prime Minister Shinzo Abe may declare a state of emergency due to fast-rising cases in the country.  The dollar was on […]

Oil prices slid on Monday after talks between Saudi Arabia and Russia were postponed, while stocks rose the spread of the coronavirus began to slow down. Brent crude saw a 3-dollar drop in early Asian trade after the meeting set to discuss production cut between Saudi Arabia and Russia had been postponed. US stock futures […]