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US small business rescue program ignored Congress: watchdog

The U.S. government's US$660 billion program to rescue small businesses hit by the coronavirus pandemic thwarts the intention of Congress by making it hard for some borrowers to convert loans to grants and failing to prioritize the right businesses, a government watchdog said on Friday.

Markets

Wall Street weekahead: US data deluge to underscore divide between roaring market, plunging economy

A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.

Markets

US stocks rally despite surge in unemployment, Dow +1.9%

Wall Street stocks rallied on Friday (May 8) as investors shrugged off historically bad jobs data in anticipation of better times as the economy relaunches from coronavirus shutdowns.

Markets

Commentary: The rise and rise of Netflix in a time of coronavirus

The streaming service has benefited from our hunger for news, entertainment and distractions this COVID-19 season, says Ian Dixon

Markets

Fed funds futures market sees negative rates by next April

The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth.

Markets

Singapore banks brace themselves for tough months ahead

SINGAPORE banks posted lower earnings in the first quarter after bulking up their provisions to cushion against economic stresses brought on by the virus outbreak, and against some of their oil-and-gas exposure.

Markets

OCBC expects credit costs from Covid-19 impact to be higher than during GFC

OCBC'S group CEO Samuel Tsien expects cumulative credit costs to be between 100 to 130 basis points (bps) over the next two years - higher than during the global financial crisis (GFC) and similar to the Sars period.

Markets

Explainer: Fed funds futures market sees negative rates by next April

The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth.

Markets

Chipotle secures US$600 million credit line amid coronavirus crisis

Chipotle Mexican Grill Inc has secured a new year-long US$600 million revolving credit line, a regulatory filing showed https://bit.ly/2SOtm6L on Friday, as the restaurant chain looks to deal with the fallout from the COVID-19 pandemic.

Markets

Wall Street jumps as historic job losses fewer than feared

U.S. stock markets gained on Friday after data showed the economy lost fewer jobs in April than feared due to the coronavirus crisis, adding to optimism from an easing in tensions between Washington and Beijing.

Markets

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