When America has recovered from the coronavirus crisis and people are back to work, Representative Adam Schiff thinks Congress should consider a 9/11-style independent commission to examine why the nation was so unprepared for the pandemic. Schiff, a California Democrat, told me in an interview that his staff has already started working on a discussion draft modeled after the 9/11 ...

What was once sacrosanct is no more. Apple Inc seems to have blinked. Bloomberg News reported on April 1 that Apple has relaxed its rules requiring a 30% cut for any content sold inside video apps on its iOS platform. The tech giant said its programme allows “premium subscription video” providers the ability to charge consumers directly using their own ...

The coronavirus crisis is still unfolding, but it’s not too soon to think about lasting financial impact and how to limit the fallout. One major financial crisis that may hit later this year or early in 2021 is the ever-looming collapse in state and local employee pension funds. Although the problem has been growing for decades, the virus may have ...

The UK Debt Management Office (DMO) has put out a signal of intent: More government bond supply is about to come thick and fast. The amount of gilts to be sold in April will be raised from 20 billion pounds ($22 billion) to 45 billion pounds. Boris Johnson’s government needs swift access to more funding to support the economy during ...

As fashion retailers shutter their storefronts across Europe and North America due to the coronavirus, some of the world’s most vulnerable workers are feeling the pain — and getting shafted. In Bangladesh, garment factories have already furloughed more than 1 million workers thanks to at least $3 billion in cancelled and postponed orders. Elsewhere in Southeast Asia, a key hub ...

The Covid-19 epidemic is a fight with an invisible enemy. What’s also worrying is that we just don’t know how bad the disease really is. Many people wonder whether we’re overestimating its deadliness, since countries find it impossible to test those with few or no symptoms. The case fatality rate is the ratio of coronavirus deaths to the number of ...

Lakeside shopping centre, just outside of London, is a mecca of consumerism. It’s situated in the county of Essex, which loves shopping so much that a reality TV show captures the exploits of its glamorous, bauble-buying residents. But since last week, the mall has been open for only essential purchases, in line with government guidance. Its owner Intu Properties Plc ...

Bloomberg Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes. Crude futures in New York were little changed on Wednesday, following a record decline in the first quarter. While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) announced that it ended Q1 2020 with available liquidity of approximately $2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the said period, DAE sold or novated 15 aircraft, acquired 4 aircraft and transitioned or extended leases on 8 aircraft. Commenting on announcement, Firoz Tarapore, DAE’s Chief Executive Officer, said, ...

DUBAI / WAM Dubai Economy launched a ‘Price Monitor’ portal to track daily prices of staple foods and essentials making sure that consumers continue to get their basic needs at fair prices in spite of the precautionary measures being adopted in view of the coronavirus (Covid-19). A dedicated portal – Price.ded.ae – has also been launched to strengthen communication with ...