Here's how money is working

Bangkok’s Chatuchak weekend market reopens
Bangkok’s Chatuchak weekend market reopens with 10,000 vendors

Famous Chatuchak weekend market in Bangkok, Thailand reopening as more than 10,000 vendors joined the market after weeks of lockdown in the country. A senior official of Bangkok Metropolitan Administration (BMA) inspected the famous tourist hotspot Chatuchak Weekend Market on Saturday on the first day of its reopening after being closed since March 22 under a government order to prevent the spread of Coronavirus

thailand bangkok market chatuchak weekendmarket bma

Sat May 09 - Thestar
Lockdown has already cost the Indian economy around $350 billion
Lockdown has already cost the Indian economy around $350 billion

The impact of coronavirus has been severe in sectors like travel and mobility. According to a recent report, India’s daily GDP now stands at around $8 billion, Indian has been under lockdown for 44 days, which makes the overall economy to suffer around $350 billion in GDP loss. Small and Medium enterprises sector has suffered the most in these difficult times as most of the companies have shut down operations

india economy gdp unemployment coronavirus rate

Sat May 09 - TOI
America’s meat shortage is more serious than your missing hamburgers
America’s rising meat shortage

The vast majority of meat processing takes place in a small number of plants controlled by a handful of large corporations, namely Tyson Foods, Smithfield Foods, JBS USA Holdings Inc., and Cargill Inc. More than a dozen of these companies’ beef, chicken, and pork plants closed in April, and despite an order by President Trump to reopen the plants, managers fear that doing so will put lives at risk sofacilitiescontinuetoclose.

processing farmers hamburgers

Fri May 08 - Vox
Trump's hard time with China
Fri May 08
Trump says he’s having a ‘very hard time’ with China and is undecided about trade deal
Trump's hard time with China

US President Donald Trump on Friday said he’s having “a very hard time with China” and hasn’t decided how to handle the international trade relationship, following a call between top trade representatives of the two nations. Trump spoke in a Fox News interview, after U.S. and Chinese trade officials discussed their phase-one trade deal Thursday night.

china politics political trum

Fri May 08 - Marketwatch
NASDAQ in green for the year
Fri May 08
Tech stocks are in the green for the year. Here are Wall Street's favorite picks in the industry
NASDAQ in green for the year

The tech-heavy Nasdaq Composite has erased its 2020 losses and turned positive on the year, lifted by companies whose online businesses proved resilient amid the coronavirus lockdowns. After a strong four-day winning streak, the Nasdaq was able to climb into positive territory on Thursday, rebounding more than 30% since late March.

facebook netflix-inc nasdaq

Fri May 08 - CNBC
Shanghai Disneyland Sells Out Of Tickets For Post-Shutdown Reopening
Shanghai's Disneyland sold out

It took only minutes for Shanghai Disneyland to run out of tickets to Monday's reopening, as people jumped at a chance to visit the amusement park for the first time since the COVID-19 outbreak forced it to close in late January.
Shanghai Disneyland says it's taking "a deliberate approach" as it reopens.

theme shanghai resort

Fri May 08 - Npr
US economy lost around 10.5 million jobs in April
The US lost 20.5 million jobs in April

Most parts of the US economy is in a self-imposed shutdown to curb the impact of coronavirus. According to the latest numbers released by the Bureau of Labor Statistics on Friday, the US economy lost a record 20.5 million jobs in April. The unemployment rate jumped to 14.7% in the previous month, marking the record reading since the Bureau started recording the rate in 1948

us economy crisis financial jobs

Fri May 08 - CNN
Best Buy to reopen 30 stores in Chicago
Best Buy reopens 30 stores in Chicago for appointment shopping

Retailer Best Buy announced that they are opening 30 stores in the Chicago-area, but only for shoppers with prior appointment. Best Buy plans to reopen 200 stores across the US as the country is moving towards reopening its economy. “Since each customer’s appointment will have a dedicated sales associate, there will be a limited number of customers in the store at any one time,” company said in a website post

us retail chicago bestbuy

Fri May 08 - Chicagosuntimes
Sidewalk labs scrapped plans for Toronto smart city
Google has scrapped plans to build a smart city in Toronto

Dan Doctroff, CEO of Google’s sister company Sidewalk labs announced that the company has scrapped a plan to build a smart city in Canada due to the coronavirus pandemic. In a medium post, Doctroff said "As unprecedented economic uncertainty has set in around the world, and in the Toronto real estate market, it has become too difficult to make the 12-acre project financially viable”

google canada toronto plan smartcity

Thu May 07 - BBC
GM hopes to raise billions in new bond offering amid coronavirus pandemic
GM expecting billions in the new bond offering

US automaker General Motors said Monday that it is suspending its quarterly dividend and planning to raise billions through new bond offerings. General Motors is taking steps to shore up its balance sheet as the coronavirus keeps plants shuttered and auto sales depressed, the company said Thursday. The stock is down 39.3% in 2020 as the coronavirus has devastated vehicle sales and shuttered auto plants.

business-news business markets coronavirus transportation autos general-motors-co bonds

Thu May 07 - Cnbc
Finger pointing amid coronavirus pandemic has widened a gulf in U.S.-China relations
Tension in the US-China relations over Coronavirus issue

Tension between the US and China rising as US suffered the most from pandemic. Relations between the U.S. and China, strained for years, have deteriorated at a rapid clip in recent months, leaving the two nations with fewer shared interests and a growing list of conflicts. Nearly every cabinet and cabinet-level official either has adopted adversarial positions or jettisoned past cooperative programs with Beijing, an analysis of their policies showed.

china us relations

Thu May 07 - Marketwatch
Luxury retailer Neiman Marcus files for bankruptcy as it struggles with debt and coronavirus fallout
Another Luxury retailer files for bankruptcy over debt issues

US luxury retailer Neiman Marcus, saddled with debt and hit by the coronavirus pandemic, filed for bankruptcy on Thursday with a deal to hand its business over to its creditors. The bankruptcy filing will help it eliminate roughly $4 billion in debt that remains as a memento from its sale to private equity firms Ares Management and the Canada Pension Plan Investment Board in 2013.

business luxury neiman retailer

Thu May 07 - Cnbc
Turkish Lira hits the lowest level on record
Turkey's Lira plunges to its lowest level in history

Lira, Turkey’s national currency hits the lowest level in history against the US Dollar as Turkish banking regulator imposes new restrictions on foreigners making lira-denominated transactions in an effort to prevent speculation and short-selling. Lira fell as low as 7.49 against USD, and has been under pressure due to rising inflation, slow economic growth, and high unemployment numbers. Turkey now has the highest number of coronavirus cases in the region

currency turket lira usd

Thu May 07 - CNBC
US weekly jobless claims stayed above 3 million
3.17 million Americans filed for unemployment benefits last week

US weekly jobless claims hit 3.17 million last week as the seven-week total reached a record 33.5 million. Although jobless claims are slightly above the estimates but remained below the previous week’s 3.8 million. The layoffs associated with social distancing practices have wiped out all of the job gains the economy has seen since the recovery from the Great Recession

america us economy unemployment claims benefits jobless

Thu May 07 - CNBC
Bank of England warned about the deepest recession in British History
British economy facing the deepest recession since 1706

The Bank of England has warned about the deepest recession in the country since 1706 as the UK economy is on course to shrink 14% this year. Coronavirus is dramatically reducing jobs and income levels in the UK as lockdown raised the unemployment rate significantly. The housing market in the UK crashed as consumer spending dropped. A 14% drop in the GDP would be the biggest annual decline on record

uk economy gdp british boe

Thu May 07 - BBC
Airbnb plans to layoff more than 25% of the total workforce
Airbnb to layoff 25% of its total workforce

Airbnb plans to lay off nearly 1,900 employees or 25% of its total workforce as coronavirus hit the company hard. The company had around 7,500 employees prior to the layoffs.“We are collectively living through the most harrowing crisis of our lifetime" CEO Brian Chesky told employees in a note. “Airbnb’s business has been hit hard, with 2020 revenues forecasted to be less than half of what we earned in 2019

layoffs airbnb coronavirus workforce 1900

Wed May 06 - CNBC
NYC deliberately closed the entire subway system
New York subway and homeless people

The homelessness groups and charities said the move of subway closure will have “counterproductive and harmful” impacts for those who seek safety and shelter in subway trains and stations – forcing them on to the streets or into the city’s shelters, where more than 700 people have tested positive for coronavirus in recent weeks. NYC deliberately shutting down the entire subway system for the first time.

system shelter impact photograph nyc shelters subway

Wed May 06 - Theguardian
EU Faces 'Recession Of Historic Proportions,' Economic Forecast Warns
Historic recession haunting European economy

The coronavirus pandemic is rapidly driving the European Union into a "deep and uneven recession," with national economies contracting because of widespread disruptions in work, daily life and the movement of goods, the European Commission said Wednesday. "The EU economy will experience a recession of historic proportions this year," the commission said in its new economic forecast as the European economy suffers shutdowns and high unemployment numbers

economy eu pandemic warns proportions

Wed May 06 - Npr
Gold prices weaker following sobering ADP jobs data
Lower Gold prices amid weak economic numbers

Investors are putting bearish bets on the safe-haven asset as gold prices are trading modestly down in early U.S. dealings Wednesday, following the U.S. ADP employment report for April that showed a staggering loss of U.S. jobs. Silver bulls' next upside price objective is closing prices above solid technical resistance at the April high of $16.505 an ounce.

report prices support gold

Wed May 06 - Kitco
Starbucks to reopen 85 percent of US stores with new protocols this week
Starbucks reopening 85% of the US stores

Starbucks announced that the company will be opening 85% of its stores in the US this week. The company’s mobile app already used by about 20 million customers will be optimized for voice ordering through Siri, curbside pickup, entryway handoff, and improved drive-thru experiences, according to a letter CEO and president Kevin Johnson wrote to customers Monday.

news coronavirus starbucks coffee-shops

Wed May 06 - Nypost
Disney Parks shares proposed safety protocol for reopening, is exploring 'phased' approach
Disney Parks plans to reopen with safety measures

Dr. Pam Hymel, the chief medical officer for Disney Parks, has outlined several “enhanced safety measures” its U.S. resorts are considering as the company outlines reopening plans, including plans for “phased reopening” and new physical-distancing guidelines. “After so much time at home, I know many of you are eager to enjoy the magic of a Disney parks visit, and we can’t wait to welcome you back,” Hymel wrote

disney retail parks shanghai reopening hymel

Wed May 06 - Foxnews
US services sector posts biggest contraction since 2009 as coronavirus halts economic activity
Biggest contraction in the services sector of the US since 2009

Coronavirus has halted economic activity in America. The U.S. services sector contracted for the first time in about a decade last month as the coronavirus pandemic brought economic activity in the country to a near-screeching halt, according to the Institute for Supply Management. The ISM non-manufacturing index dropped to 41.8 in April from 52.5 in March, showing the first contraction in services since December 2009

business-news economy services sector pmi

Tue May 05 - Cnbc
Fiat Chrysler to restart US production in two weeks
Fiat Chrysler announced to restart production in two weeks

The automaker announced that the company will restart production in two weeks. Fiat Chrysler lost about $1.8 billion (1.7 billion euros) in the first quarter as the coronavirus pandemic caused rolling shutdowns of its plants in China, Europe, and North America. Fiat Chrysler also said it expects to restart the majority of its North American plants the week of May 18 strengthening the argument of reopening the US economy

news business cars automobile fiat reopening

Tue May 05 - Cnbc
Virgin Atlantic cuts more than 3,000 jobs to mitigate 'devastating' coronavirus impact
Virgin Atlantic laying off more than 3,000 employees

British Airline, Virgin Atlantic announced Tuesday it will cut 3,150 jobs, becoming the latest airline to announce a reduction in headcount because of the coronavirus crisis. Virgin Atlantic joins many other companies to announce job cuts amid the coronavirus crisis, as grounded flights and national lockdowns ravage demand for air travel.

business crisis british coronavirus virgin atlantic

Tue May 05 - Cnbc
Starbucks stock rises 3% on plans to reopen U.S. stores
Starbucks stock soars after re-opening news

Starbucks stock rose 3% in extended trading Monday after the coffee giant announced plans to reopen more than 85% of its U.S. stores by the end of this week. By early June, the Seattle-based company expects to have more than 90% of its stores open with limited hours. The Seattle-based company expects mobile pay to play an even more prominent role in transactions.

stock starbucks coffee

Tue May 05 - Marketwatch