Tag: COVID-19

September 14, 2020

Even before Covid-19, banks have long struggled to service SME’s lending needs and faced pressure to boost customer service from digital banks entering business banking. Now, the unprecedented demand for the Government’s stimulus packages and Bounce Back Loan Scheme (BBLS) […]

September 1, 2020

Asia-Pacific markets were mixed in early trading Wednesday, after Wall Street hit more records and Australia confirmed it was in its first recession in 29 years. Japan’s Nikkei 225 NIK, +0.47% advanced 0.2% while Hong Kong’s Hang Seng Index HSI, […]

August 31, 2020

Gold futures traded around break-even levels on Monday as the U.S. dollar weakened slightly heading into the last trading session in August. Bullion continues to be viewed as a haven in the face of the COVID-19 pandemic, and the precious […]

August 28, 2020

The payments giant is working with AI and computer vision technology partner Accel Robotics on its Shop Anywhere platform, which promises to improve the speed of the shopper journey by eliminating points of friction through robust inventory and participating shopper […]

August 25, 2020

The lender said in July it would launch a broad cost-cutting initiative this year as the bank braces for massive loan losses caused by the pandemic. It is also continuing to work through expensive regulatory and operational problems tied to […]

August 14, 2020

U.S. Treasury yields clipped their decline on Friday after the start of a raft of economic, with retail sales coming in slightly weaker than expected but suggesting the engine of the U.S. economy — consumers — continued to spend amid […]

August 13, 2020

Banks have had to adapt quickly to function during COVID-19. For many, digitisation was the preserve of a few operational processes, and the industry is still way to reliant on paper to operate effectively in a virtual environment. The pandemic […]

August 11, 2020

As the coronavirus pandemic took hold early this spring and markets plunged, a wave of Americans saw an opportunity to start investing. But one expert says this new herd is making some old mistakes — namely, chasing hot stocks. “I’ll […]

August 10, 2020

Long-term U.S. Treasury yields rose on Monday as traders made room for this week’s record auctions of government bonds, which will finance the response to the COVID-19 pandemic. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, 0.579% rose […]

August 3, 2020

It says coronavirus disruption casts “significant doubt” on its ability to continue as a going concern. However, net losses widened as it ramped up spending on marketing, technology and staff. The amount spent by Monzo customers also rose to £10.9 […]

July 22, 2020

The South China Morning Posts reports that the 11 lenders will partially or completely shut down operations at some 58 branches – about 5% of the city’s total – from 21 July. The restrictions come as the latest outbreak pushed […]

July 17, 2020

The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a report. Central bank intervention has reversed much of […]

July 17, 2020

Maryland uncovered a massive criminal enterprise involving identity theft and more than 47,500 fraudulent unemployment insurance claims in the state adding up to more than $501 million, Governor Larry Hogan said Wednesday, saying the case relates to activity in at […]

July 16, 2020

Gold futures headed lower on Thursday as commodity investors assessed the landscape for the global economy and markets amid rising U.S. coronavirus cases, while the European Central Bank, as expected, kept both its key rate and asset-buying program unchanged. Bullion […]

July 15, 2020

Most notably, the decline in the use of cash has accelerated, with fewer shops accepting only electronic means of payment and even more commerce taking place online. This will however have ramifications for the unbanked who rely on paper money […]

July 9, 2020

The numerous issues in Florida’s property insurance market, including higher reinsurance pricing and social inflation, continue to challenge the financial strength of Florida personal property writers and impact coverage availability and affordability in the state. These headwinds, according to a […]

July 8, 2020

Gold futures climbed on Wednesday, building on their highest settlement since September 2011 a day earlier and supported by the prospect of a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic. The […]

July 2, 2020

The numbers: The U.S. added 4.8 million jobs in June and the unemployment rate fell for the second straight month to 11.1%, but the economy’s recuperation from the coronavirus might already be suffering a setback from a renewed surge in […]

July 1, 2020

As the economy moves into the second half of the year, economists expect to see a bounceback, but the resurgence in Covid-19 threatens to make that rebound less potent than expected. More than a dozen states have now paused or […]

June 30, 2020

A federal face mask mandate would not only cut the daily growth rate of new confirmed cases of Covid-19, but could also save the U.S. economy from taking a 5% GDP hit in lieu of additional lockdowns, according to Goldman […]