Business News
The US Federal Reserve has tonight cut rates back to near zero, restarted bond buying and launched other measures from its crisis-era toolkit. The measures are part of efforts by other central banks to put the floor under a rapidly disintegrating global economy assailed by efforts to contain the escalating coronavirus pandemic. “The effects of the coronavirus will […]
Read MoreTelecoms companies have said they are equipped to handle any increase in traffic over their networks that may come as a result of more people working remotely. Many companies had already directed staff to work from home in response to the outbreak of Covid-19. Today the Government urged more employers to use remote working where possible, […]
Read MoreEuropean markets posted their worst one-day drop in history today, as investors reacted to US President Donald Trump’s decision to impose restrictions on travel to the US from some countries in Europe. The pan-European Stoxx 600 had plummeted 11% by the close, with travel and leisure stocks sinking 12.8% following Trump’s announcement of a ban […]
Read MoreOil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite eking out a 2% today, as investors eyed evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude was up 70 cents, or 2.1%, at $33.92 in early trade after falling more than 7% on […]
Read MoreOil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite eking out a 2% today, as investors eyed evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude was up 70 cents, or 2.1%, at $33.92 in early trade after falling more than 7% on […]
Read MoreThe EU will today assess the travel ban on Europe imposed by US President Donald Trump, European Council President Charles Michel said, adding: “Economic disruption must be avoided.” Michel coordinates action by the leaders of the EU’s 27 member states. His tweet follows an overnight decision by Trump to suspend travel from Europe – but […]
Read MoreThe EU will today assess the travel ban on Europe imposed by US President Donald Trump, European Council President Charles Michel said, adding: “Economic disruption must be avoided.” Michel coordinates action by the leaders of the EU’s 27 member states. His tweet follows an overnight decision by Trump to suspend travel from Europe – but […]
Read MoreThe Irish Tourism Industry Confederation (ITIC) has said a VAT deferral scheme is vital to alleviate serious cashflow pressures in the tourism and hospitality sectors. The representative body said immediate action is critical because thousands of jobs are at stake due to the volume of cancellations and lack of future bookings. “Coronavirus is first and foremost […]
Read MoreThe Irish Tourism Industry Confederation (ITIC) has said a VAT deferral scheme is vital to alleviate serious cashflow pressures in the tourism and hospitality sectors. The representative body said immediate action is critical because thousands of jobs are at stake due to the volume of cancellations and lack of future bookings. “Coronavirus is first and foremost […]
Read MoreEurope’s banks have called on European Union authorities to ease capital rules and other regulatory barriers to helping businesses struggling because of the coronavirus epidemic. The European Banking Federation (EBF) comprises national banking industry bodies from across Europe. It has set out a three-stage plan in a letter to the European Union, European Central Bank and […]
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