By Administrator_India Capital Sands Detroit’s Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday. The automakers had said on March 18 they would halt production until at least March 30. Ford Motor Co. said in a […]
By Administrator_India Capital Sands Oil prices fell on Monday as governments escalated lockdowns to curb the spread of the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a global economic contraction. Brent crude futures fell $1.09, or 4%, to $25.89 a barrel. West Texas Intermediate crude futures was down 15 […]
By Ritu, Capital Sands The Bank of Russia bucked a global trend for interest-rate cuts amid the spread of coronavirus by keeping borrowing costs on hold amid a currency slump. The benchmark interest rate was held at 6%, according to a statement Friday, following 175 basis points of easing in the past year. The decision […]
By Ritu, Capital Sands Indian stocks closed lower for a fourth straight day on Thursday as a sharp late-afternoon surge failed to reverse deep losses from earlier in the session. The Nifty settled down 2.42% at 8,263.45, while the Sensex closed 2.01% lower at 28,288. Both indexes closed at levels last seen in 2017. The […]
By Administrator_India, Capital Sands The economic impact of the growing coronavirus outbreak is shifting from service-driven industries like hotels and restaurants to the manufacturing sector on both sides of the Atlantic, leading to a synchronized shutdown of heavy industry that historians and industry experts say is unlike any seen since the 1940s. Automakers in the […]
By Administrator_India, Capital Sands Australia and Taiwan joined a growing list of countries offering financial aid to their ailing aviation sectors as global airlines announced deeper capacity cuts due to plummeting demand and stricter border controls associated with the coronavirus. With airlines halting plane deliveries and new orders to conserve cash, Boeing Co called on the […]
By Ritu, Capital Sands European shares rose on Tuesday, following a sharp sell-off in the previous session triggered by panic over the hold that the coronavirus has over Europe and the resulting damage to business activity and company finances globally. The pan-European STOXX 600 index was up 2.7% at 0804 GMT after plunging to its […]
By Administrator_India, Capital Sands Australia’s central bank cut its benchmark interest rate and said it was ready to do so again as it became “increasingly clear” the coronavirus would cause major disruption to economic activity worldwide, according to minutes of its March 3 meeting. The board reduced the cash rate to 0.5% “to provide additional […]
By Ritu, Capital Sands When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction. Yet few are willing to bet on a prolonged decline. Pandemic fears are roiling markets, driving a scramble […]
By Administrator_India, Capital Sands China’s industrial output contracted at the sharpest pace in 30 years in the first two months of the year as the fast spreading coronavirus and strict containment measures severely disrupted the world’s second-largest economy, data showed on Monday. Urban investment and retail sales also fell sharply and for the first time […]