Daily Management Review
Economics

Apple is closing its stores outside of Greater China until March 27

Due to the situation with coronavirus, Apple is closing its stores outside of Greater China (mainland China, Hong Kong, Macau and Taiwan) until March 27, the company’s website said in a statement. "We close all of our retail stores outside of Greater China until March 27," the statement said. It...

Calls To Trump To Cut China Tariffs Due To Economic Impact Of Coronavirus On US Businesses

United States president Donald Trump is facing calls for cutting tariffs on Chinese and other imported goods from industry groups, lawmakers and even some government officials because of the economic fallout of the spread of the coronavirus that the businesses in the country are facing. Such urges...

South Korea bans short selling

On Friday, the Financial Services Commission of South Korea announced a temporary ban on the sale of uncovered shares for six months due to market instability caused by the COVID-2019 coronavirus pandemic. On March 11, the World Health Organization declared the outbreak of coronavirus a pandemic....

ECB, Fed announce additional stimulus measures

The ECB, at its scheduled meeting on Thursday, March 12, kept all rates at the same level, but announced an additional asset repurchase of € 120 billion; the Reserve Bank of New York, in turn, announced large-scale programs for providing short-term liquidity. Thus, the regulators are trying to...

Coronavirus Related Curbs In Italy Could Hit Its Already Weak Economy Hard

Italians have been directed to stay back home and venture out only for emergencies or essential work-related purposes in order to prevent the spread of the virus even as the most strict curbs in whole of Europe have been imposed in the country so far.   The government has also directed...

US indices fall after coronavirus pandemic announced

The announcement of the coronavirus pandemic pulled down the US stock market. Major stock indices fell by a few percent. The Dow Jones index fell more than 500 points after the World Health Organization (WHO) recognized the new coronavirus as a pandemic. Initially, it amounted to 24,174 points, but...

New Plastic Tax And Carbon Emission Trade To Fill EU’s Brexit Fund Gap?

The proposed EU budget from 2021-27 aims at carbon neutrality by 2050. The chairman of the EU has proposed to fill up the gap in its “next long-term budget” which has been created with the exit of Britain from the bloc, whereby introducing a new tax on plastics and tapping on the funds of carbon...

ECB President Singles Out Banks For Their Failure Towards Climate Risk Disclosure

ECB needs to get a better understanding of climate change impact and its affect on the economy to find ways of playing its role. The President of European Central Bank, Christine Lagarde stated that banks need to up their game towards transparency on “their exposure to climate- change risk” while...

Economic Fallout Of Coronaviurs Forces American Firms To Increase Cash By Debt Funding

With rising concerns of an economic downturn because of the global spread of the deadly coronavirus and the huge drop in the global price of oil, corporate America – including a range of companies from Exxon Mobil Corp to Royal Caribbean Cruises Ltd, were seen pushing for taking on more funds in...

2020 Growth Will Be Lower Than 2019 Due To Coronavirus, Warns IMF

The International Monetary Fund has warned that the global economic growth for 2020 will fall below the growth rate that was reached last year because of the fast and wide spread of the deadly coronavirus. The IMF also announced an aid of $50bn in emergency funding for those middle and low income...
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