Crown court trials to be suspended after lawyers push back on health fears March 17, 2020 Crown court trials expected to last longer than three days have been put on hold due to the coronavirus outbreak after sustained pressure from lawyers. Tonight, the Lord Chief Justice released a statement announcing the adjournment of all cases of this length expected to begin in April. The move came after the head of the [...]
US stock markets rebound after new Fed coronavirus action March 17, 2020 US stock markets today clawed back around half of yesterday’s losses after their worst session since 1987’s Black Monday crash as the Fed’s move to buy companies’ short-term debt cooled fears. The S&P 500 closed six per cent higher, the Dow Jones finished 5.2 per cent, up and the Nasdaq climbed 6.2 per cent. The [...]
Donald Trump weighing up sending Americans cheques amid coronavirus March 17, 2020 The US government is weighing up sending cheques to American citizens as it tries to negotiate a $850bn (£700bn) stimulus package with Congress to deal with the economic consequences of coronavirus. US Treasury secretary Steve Mnuchin said the government could send cheques – which could be worth $1000 – to Americans in the next two [...]
Federal Reserve launches corporate debt purchases to tackle coronavirus fallout March 17, 2020 The US Federal Reserve has continued its dramatic intervention in the markets with a pledge to buy short-term corporate debt to help ease the strain on companies amid the coronavirus outbreak. The Fed will relaunch the financial crisis-era system and buy up so-called commercial paper directly from firms that issue it. Companies use commercial paper [...]
Oil price goes below $30 a barrel following brief rise March 17, 2020 Oil prices have fallen below $30 a barrel due to coronavirus uncertainty and the Russia-Saudi Arabia price war. This comes after they staged a slight rise this morning as investors searched for a bargain. Brent crude fell to $29.82 a barrel having peaked earlier at $31. Stephen Innes, chief markets strategist at Axicorp told Reuters [...]
US stock markets suffer worst day since 1987 despite drastic Fed rate cut March 16, 2020 US stock markets suffered their biggest single day fall since 1987’s infamous Black Monday crash as investors shrugged off a dramatic Federal Reserve stimulus package that aimed to support the economy during the coronavirus outbreak. The US’s S&P 500 crashed 12 per cent over trading, the Dow Jones finished 12.9 per cent lower, and the [...]
Oil prices slide as coronavirus and price war roil markets March 16, 2020 Oil prices slipped below $30 a barrel in afternoon trading as an emergency interest rate cut from the US Federal Reserve failed to calm fears about a global recession caused by coronavirus. The Brent crude oil price was last down 11.1 per cent at $30.10, its lowest price since 2016. West Texas Intermediate was down [...]
US stocks plunge again despite Fed coronavirus stimulus March 16, 2020 US stock markets have plunged despite the US Federal Reserve last night again slashing interest rates as investors anticipate a global recession caused by the coronavirus outbreak. The S&P 500 dropped more than eight per cent when Wall Street opened, causing a so-called circuit breaker designed to stop panic selling to kick in. Stocks continued [...]
EU watchdog tightens short-selling rules as coronavirus sell off worsens March 16, 2020 Hedge funds and other investors will have to give regulators more information about the stocks they are betting against, the European Union’s market watchdog has announced, warning that the stock market rout triggered by coronavirus could last weeks. The European Securities and Markets Authority (ESMA) lowered the threshold for reporting short-selling — essentially a bet [...]
Investment companies increase dividends in falling markets March 16, 2020 Global markets have been spooked by the coronavirus outbreak in recent weeks, but 21 investment companies have increased their dividends for more than two decades. The Association of Investment Companies (AIC) has today published a list of its 21 “dividend heroes” which have consistently increased their dividends for 20 or more years. City of London [...]