March, 2020

• 9 March

  Donald Trump commits three coronavirus errors

  

  As the coronavirus spreads, it’s increasingly clear that the US government has made mistakes. This is a difficult time to assess those mistakes, however; it’s not yet clear, and won’t be for some time, either the extent or the responsibility for things that have gone wrong. We’re going to see more articles about how things went awry, and that’s part ...

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• 9 March

  Why Sanders’ tax proposal won’t work

  

  Recently, the S&P 500 ETF SPY traded over $100 billion in volume in a single day. With a .1% financial transactions tax, something that a few US presidential hopefuls had proposed, that volume would have generated $100 million in government revenue. Those types of numbers have lawmakers salivating over the potential to raise untold amounts of money from applying very ...

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• 9 March

  How airlines make money with free tickets

  

  For travellers intrepid enough to share an aircraft with a group of strangers in the grip of an epidemic, now is a great time for bargains. Americans can get return flights from New York to Miami right now for around $51, Bloomberg News reported earlier. In China, premium budget carrier Juneyao Airlines is offering one-way tickets for the three-and-a-half hour ...

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• 9 March

  Stocks tumble as oil price crash sends shockwaves

  

  Bloomberg Oil prices crashed, equities plunged and Treasuries soared on Monday as the world headed for a full-blown price war in crude and panic appeared to grip financial markets. In a dramatic start to the week across assets: Futures on the S&P 500 Index fell about 5%, triggering trading curbs designed to limit the most dramatic moves while cash markets ...

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• 9 March

  India bonds advance, stocks dip over oil rout

  

  Bloomberg Sovereign bonds in India rose to their highest in more than a decade and stocks fell the most since 2015 amid rising risks to the nation’s financial system along with a plunge in crude that led to panic sell-off of risk assets globally. The yield on the benchmark 10-year debt slid below 6% for the first time since 2009. ...

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• 9 March

  Biggest rescue of India bank to deepen lenders’ funding woes

  

  Bloomberg India, home to one of the world’s worst piles of bad debt, once again finds itself defending the stability of its financial system after the biggest bank failure in its history. The Reserve Bank of India (RBI) took to Twitter to affirm the safety of deposits in the wake of a decision to seize Yes Bank Ltd. and invite ...

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• 9 March

  French central bank sees slight first quarter growth

  

  Bloomberg The French economy will barely grow this quarter as the coronavirus outbreak slams the brakes on activity in both services and industry, according to a Bank of France survey. The downbeat assessment comes amid concern that Europe may be headed for a recession after Italy put its industrial heartland into lockdown, and global equities and oil prices tumbled. It’s ...

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• 9 March

  JPMorgan CEO’s health emergency is casting shadow on China plans

  

  Bloomberg JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon’s emergency heart surgery has put the spotlight on succession, and in Asia, on how much of the lender’s push into China hinges on his commitment. Dimon, who underwent surgery after suffering acute aortic dissection, has temporarily handed control of the largest US bank to his lieutenants. His plan to bring ...

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• 9 March

  Betsy Duke resigns as Wells Fargo chairmain

  

  Bloomberg Betsy Duke stepped down as chair of Wells Fargo & Co. ahead of a dramatic congressional hearing set for this week examining the board’s role in the bank’s scandals. Democrats atop the House Financial Services Committee made no secret of their intent to target Duke and other past and current leaders, issuing a scathing report last week on the ...

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• 9 March

  Risks stack up for Philippine central bank chief in 2nd year

  

  Bloomberg Philippine central bank Governor Benjamin Diokno’s plate is full as he starts his second year in office. Diokno must enforce a range of new laws, including ones allowing the central bank to issue bonds and boost the country’s stubbornly low saving rate. And he ends his first year in office with a fresh global worry: the coronavirus outbreak weighing ...

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