• The Fed's balance sheet exceeds $5 trillion for the first time in history amid the bank's wave of coronavirus relief efforts

    2 days ago - By Business Insider

    The Federal Reserve's balance sheet surpassed $5 trillion for the first time as the coronavirus threat drove major liquidity operations.
    The central bank added $586 billion worth of assets in the week ended March 25, according to a Thursday release , bringing its total holdings to $5.3 trillion.
    Treasury and mortgage-backed securities accounted for $355 billion in Fed purchases, arriving days after the bank lifted its limit for asset buying.
    Credit extended to banks over the period reached $50.8 billion.
    Visit the Business Insider homepage for more stories .
    The Federal Reserve's emergency...
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  • Vietnam orders non-essential businesses to close for 2 weeks

    Vietnam orders non-essential businesses to close for 2 weeks

    2 days ago - By Chron

    HANOI, Vietnam - Vietnam's government on Friday ordered all non-essential businesses to close for at least two weeks in an effort to slow the spread of the coronavirus.
    Prime Minister Nguyen Xuan Phuc said shopping malls, in-restaurant dining, bars and other businesses that do not provide basic necessities must shut starting at midnight.
    Unnecessary gatherings of more than 20 people were also banned. The prime minister also encouraged businesses to allow staff to work from home if possible.
    Although the ban did not take effect until midnight, the normally bustling streets in Hanoi's old...
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  • Don't call the $2 trillion coronavirus bill a stimulus, call it a rescue - and we're going to need a lot more of it

    Don't call the $2 trillion coronavirus bill a stimulus, call it a rescue - and we're going to need a lot more of it

    2 days ago - By Business Insider

    The $2 trillion coronavirus bill Congress is set to pass this week is not a stimulus, it is a rescue package. It is not meant to bolster the American economy, it's meant to save it.
    With this bill - and the bills that are certainly coming - America is going to need to build out the public health infrastructure that will keep this economy going.
    That means increasing hospital capacity and testing. It means being able to send money to counties that have become hot zones. It means preparing for uncertainty.
    This is about surviving in a new reality, people.
    This is an opinion column. The...
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  • The Fed's balance sheet exceeds $5 trillion for the first time in history amid the bank's wave of coronavirus relief efforts

    The Fed's balance sheet exceeds $5 trillion for the first time in history amid the bank's wave of coronavirus relief efforts

    2 days ago - By Business Insider

    The Federal Reserve's balance sheet surpassed $5 trillion for the first time as the coronavirus threat drove major liquidity operations.
    The central bank added $586 billion worth of assets in the week ended March 25, according to a Thursday release , bringing its total holdings to $5.3 trillion.
    Treasury and mortgage-backed securities accounted for $355 billion in Fed purchases, arriving days after the bank lifted its limit for asset buying.
    Credit extended to banks over the period reached $50.8 billion.
    Visit the Business Insider homepage for more stories .
    The Federal Reserve's emergency...
    Read more ...

     

  • Sinking global economy & cheap crude take big bite out of Russia's forex reserves

    Sinking global economy & cheap crude take big bite out of Russia's forex reserves

    2 days ago - By RT

    Russian gold and foreign currency holdings have shed almost $30 billion or more than five percent in one week in the biggest drop since the global financial crisis amid the coronavirus pandemic and crashing oil prices.
    According to the latest data released by the country's central bank, the reserves stood at $551.2 billion as of March 20, down from $581 billion a week earlier. The regulator explained the decline with negative revaluation.
    The nation's forex holdings faced almost a similar drop in October 2008, when the reserves shrank by $30.6 billion to $487 billion. Another steep decline...
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  • Volkswagen burning through $2.2 billion a week as coronavirus halts production: CEO

    2 days ago - By Reuters

    Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros a week, Chief Executive Herbert Diess told German TV channel ZDF.
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