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US Fed chair Powell warns of broad virus danger, bats down negative rates

by Bernadette | May 14, 2020 | Business & Finance News

The US economy faces unprecedented risks from the coronavirus if fiscal and monetary policy makers don’t rise to the challenge, Federal Reserve Chair Jerome Powell said while pushing back against the notion of deploying negative interest rates. “The recovery may...

UK economy plunges into recession amid virus restrictions

by Bernadette | May 13, 2020 | Business & Finance News

The UK economy shrank almost 6{e93887a69cdd95d753f466db084bbc3aa0067124675315461d28d68a72842cc2} in March as the nation went into lockdown, plunging into what may be its deepest recession in more than three centuries. The slump meant gross domestic product fell...

Oil falls on fears a second virus wave would pummel demand again

by Bernadette | May 11, 2020 | Business & Finance News

Oil pared last week’s gain as fears of a potential resurgence in global coronavirus cases countered tentative signs of a demand recovery. Futures fell 2.3{e93887a69cdd95d753f466db084bbc3aa0067124675315461d28d68a72842cc2} in New York to trade near $24 a barrel. China...

Political stardom beckons for virus point man, Zweli Mkhize

by Bernadette | May 10, 2020 | Business & Finance News

Minister of Health Zweli Mkhize has won such praise for his handling of the coronavirus crisis that he’s being touted as a possible successor to President Cyril Ramaphosa. Advised by a panel of top scientists, Mkhize has crisscrossed the country assessing the health...

Tourism looks to younger crowd as seniors grapple with virus threat

by Bernadette | May 9, 2020 | Business & Finance News

Once the coronavirus pandemic is over, the international tourism industry may initially find its saving grace in an unexpected place: the younger market segment.  Older, more affluent travellers have traditionally proved lucrative for the sector. But in the...
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