Bloomberg US stocks posted biggest weekly gain since 1974 as investors looked past staggering jobless numbers when Federal Reserve released new measures to cushion fallout from coronavirus. Oil fell as investors saw a supply-curb proposal as insufficient. The S&P 500 Index rallied for the third time in four days, bringing this week’s increase to 12%. The Fed announced another series ...

Bloomberg The Philippine central bank is ready to cut its policy rate to below 3% to support an economy reeling from a “once in a lifetime crisis,” according to Governor Benjamin Diokno. “It is now clear that reverting to where we were in 2018 — policy rate at 3.0% — is no longer an appropriate policy goal,” the governor said ...

Bloomberg JPMorgan Chase & Co will raise mortgage borrowing standards starting Tuesday, Reuters reported, citing Chief Marketing Officer for home lending businesses Amy Bonitatibus. Customers applying for a new mortgage will need a credit score of at least 700 and will be asked to pay 20% of the home’s value as a down payment, according to the report. JPMorgan & ...