How the longest bull run in history ended in pandemic panic

SINGAPORE/HONG KONG (Reuters) – As a collapse in the oil price unleashed chaos in financial markets, Madrid money manager Diego Parrilla phoned a colleague who agreed: they had better head to work early in the morning. By daybreak in Europe, the price of crude oil had fallen by a third. The shock had turned worry about the coronavirus to full-blown […]

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Americans rush to stock up on essentials as coronavirus spreads

NEW YORK (Reuters) – American shoppers stood in long lines outside grocery stores on Friday, waiting to get inside to buy essentials like toilet paper, pasta, and bottled water, as a worsening coronavirus crisis stoked fears of shortages across the United States. The run on certain goods prompted some retailers to enforce purchase limits as a way to ensure that […]

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Stocks bounce on stimulus hopes

(Reuters) – Wall Street clawed back some losses on Friday after its biggest one-day decline in three decades, as investors set their hopes on more global fiscal stimulus to stem a coronavirus-driven global recession. All three main indexes jumped more than 6% in early trading before paring gains on reports President Donald Trump was set to declare a national emergency […]

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Greggs has launched its spring menu and it includes a nacho chilli cheese bake

Spring is almost here – which means it's time for some new food choices. And now Greggs has given its menu a seasonal refresh, giving hungry customers three more delicious options to choose from. The bakery chain's new release includes the limited-edition Nacho Chilli Cheese Bake which has proven a hit in previous years. Setting you back £1.55, the spicy […]

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Exclusive: U.S. Fed, banks discuss possible leniency on liquidity threshold to aid lending, sources say

WASHINGTON (Reuters) – The U.S. Federal Reserve is talking with lenders about potentially going easy on them if they deplete their liquidity reserves while trying to support customers hurt by coronavirus disruption, according to three people with knowledge of the discussions. Following the 2008 financial crisis, banks built up billions of dollars in liquidity buffers to ensure they could meet […]

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Coronavirus more serious for airline industry than 9/11 – BA boss

The coronavirus pandemic is more serious for the airline industry than 9/11 and the financial crash and jobs will be lost, the boss of British Airways has warned. Against the backdrop of the escalating outbreak, Chief executive Alex Cruz said in a video message to staff: “It is a crisis of global proportions like no other we have known.” “Please […]

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Wall Street jumps after worst day since 1987

(Reuters) – U.S. stock markets opened sharply higher on Friday after their worst daily selloff in more than three decades as investors hoped more fiscal easing would head off a global recession. The Dow Jones Industrial Average .DJI rose 773.20 points, or 3.65%, at the open to 21,973.82. The S&P 500 .SPX opened higher by 89.35 points, or 3.60%, at […]

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World stocks rise on spending hopes, still set for worst week since 2008

LONDON (Reuters) – World stocks bounced off their lows on Friday on hopes of more central bank stimulus and government spending, but were still set for their worst week since the 2008 financial crisis, with coronavirus panic-selling hitting nearly every asset class. European stock markets rose on hopes of a coordinated stimulus package from world governments after several sessions of […]

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MAS says it stands ready to ensure the stability of Singapore's financial system amid coronavirus spread

SINGAPORE – The Monetary Authority of Singapore said on Friday (March 13) that it “stands ready to ensure the orderly functioning of financial markets and the stability of the financial system in Singapore” as the coronavirus crisis deepens worldwide. It assured that the Singapore dollar money market and foreign exchange market are currently “functioning normally in the face of heightened […]

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Oil rises over 3% but set for biggest weekly thumping since 2008

TOKYO (Reuters) – Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite rising over 3% on Friday, as investors fretted over evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude LCOc1 was up $1.12, or 3.4%, at $34.33 a barrel by 0728 GMT after falling more than 7% […]

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