Jumpstarting the economy after a pandemic
The recent coronavirus outbreak has brought uncertainty not just over general public health, but also to the global economy at large. While scientists are racing to find a cure against COVID-19, major cities are on lockdown, the stock market is plummeting, and the world is on the verge of a recession. These are indeed difficult […]
U.S. Stocks Plunge With Stimulus Deal in Limbo: Markets Wrap
U.S. stocks sank further as investors awaited progress on a congressional spending package to tackle the fallout from the coronavirus pandemic. Measures of corporate credit risk eased and the dollar fell after the Federal Reserve announced a massive second wave of initiatives to support a shuttered American economy. The S&P 500 fell as much as 4.9% as […]
Five ways coronavirus will affect the connectivity and tech industry in 2020
The telecommunications and consumer technology industries continue to feel the impact of the coronavirus. The initial outbreak of the coronavirus in China disrupted global supply chains, but as the outbreak has grown into a global pandemic, with over 125,000 confirmed cases across 118 countries, the consequences have become even more far-reaching and less predictable. Mobile World Congress, a seminal […]
Stocks tumble again as wild trading streak continues
Stocks sank again Wednesday in another volatile session as Wall Street worried about a possible fiscal stimulus package aimed at curbing slower economic growth due to the coronavirus outbreak. The Dow was down more than 900 points, while the S&P 500 slid 3.1% and the Nasdaq dropped 2.7%. Those losses put the three averages closer to […]
Calpers Top Money Man Is Swept Up in Chinese Espionage Fears
It was the kind of warning familiar to Fox viewers in the Trump era: An immigrant posed a danger to U.S. security. Only this time, the purported threat wasn’t part of an “invasion” from Mexico or Guatemala — he controls the fate of the retirement investments of millions of people in California. His name is […]
China Moves Forward with Its De-Dollarization Strategy
The world monetary order is changing. Slowly but steadily, global trade and currency markets are becoming less dollar-centric. Formerly marginal currencies such as the Chinese yuan now stand to become serious competitors to U.S. dollar dominance. Could gold also begin to emerge as a leading currency in world trade? Over time, it certainly could. But […]
Trump set to take WTO ‘developing nation’ battle to next level
Asian countries under pressure after South Korea acquiesces to US demand WASHINGTON — U.S. President Donald Trump is poised to ratchet up his campaign against countries that claim to be part of the developing world despite fielding wealthy economies. Trump issued a memorandum on July 26 establishing a 90-day ultimatum for well-heeled members of the […]
Filipina American sells Care.com for $500M
The company behind Expedia and Match.com is buying the child and adult care referral site, Care.com, for $500 million dollars, reports the Inquirer. Sheila Lirio Marcelo founded Care.com in 2007 after expressing frustration about the difficulty in finding child care as well as for her ailing father. “Since our founding 13 years ago, we’ve delivered on […]
China Says Deal Agreed, U.S. to Roll Back Tariffs in Stages
China and the U.S. agreed on the text of a phase one trade deal that includes the removal of tariffs on Chinese goods in stages, Vice Commerce Minister Wang Shouwen said, as President Donald Trump confirmed that some levies will be reduced and said the next round of talks will start immediately. China will increase […]
Asian Shares Advance After Meager Gains on Wall Street
BANGKOK (AP) — Shares swung higher in Asia on Friday after a wobbly day of trading on Wall Street as investors awaited a U.S. government jobs report and kept an eye out for developments in China-U.S. trade talks. Hong Kong’s Hang Seng rose 0.7% to 26,401.47, while the Nikkei 225 in Japan picked up 0.2% […]