The U.S. Senate has blocked a COVID-19 stimulus package worth $1.8 trillion, with Democrats saying the bill offered huge bailout to large companies without appropriate oversight.
The IOC and Tokyo Olympic Committee have given themselves four weeks to decide if the Games will be postponed. It’s the first time since 1945 the event could be postponed or even cancelled.
China’s smart speaker market saw explosive growth in 2019, with products manufactured by Alibaba, Baidu and Xiaomi accounting for more than 90 percent of total sales, according to statistics from research firm IDC.
At least 507 cinemas across China have reopened as the country says there have been zero new COVID-19 deaths. Although that’s around five percent of all Chinese cinemas, it’s an important landmark.
At least 12 Chinese banks have relaxed rates on personal loans and started promotions – including doubling maximum loans – in a bid to get the economy moving again, as the country seems to start recovering from COVID-19.
The U.S. Federal Reserve has promised “aggressive efforts” in its own fight against COVID-19’s market destruction. Its measures included an unlimited purchase of Treasury-backed securities.
The UK government is in conversation with Amazon and other delivery-based retailers to organize the delivery of thousands of COVD-19 tests to front line health workers.
Japanese investment fund SoftBank plans to sell $41bn worth of assets, to pay for the buyback sparked by activist investors Elliott Management.
Apple has dropped a two-device limit on online purchases of iPhones, a check of its web stores showed on Monday, amid the COVID-19 pandemic, as it moves to close global stores.
German air taxi startup Lilium said on Monday it had raised $240 million, despite the effect of the novel coronavirus on global markets and business. It hopes to launch operations by 2025.
Japan has joined global efforts to lessen the impact of the pandemic with a fiscal stimulus. Prime minister Shinzo Abe said $137 billion would be injected into the economy, at least in part from issuing new bonds.
Slovenia’s central bank chief Bostjan Vasle said he expects the pandemic to affect Slovenian banks, “in spite of a good starting point,” and affirmed at least $1 billion will be made available for struggling firms.
British firms have been instructed by regulators to delay their latest results, as the Financial Conduct Authority attempts to head off further market losses, which may be sparked by disappointing results.
Bargain clothes retailer Primark has closed all of its 376 global stores, though its parent company said “a variety of work streams have been established to mitigate the effect of the contribution lost.”
U.S. car giant Ford has halted production at its India, South Africa, Thailand and Vietnam plants, as the pandemic spreads and new markets face restrictions.
The price of Brent Crude oil dropped again as markets opened on Monday. It is now down to just below $26 per barrel.
Source: CGTN
