Tag: Mar 10 2020

Before the coronavirus hit Italy, its economy barely rebounded from the Panic of ’08. Now, following the government’s decision to lock down the entire nation, it risks diving deep into recession. Tourism, which accounts for 13 percent of its GDP, is dead. Italian manufacturers are flooded with canceled orders – perhaps not entirely a bad...

Canopy Growth, the Canadian cannabis company with the largest market capitalization at about $5.8 billion, is closing three million square feet of greenhouse space in British Columbia, laying off 500 workers, and abandoning plans for a new Ottawa growing center. The cutbacks will result in a charge of as much as $800 million to the...

In response to a slowing global economy and coronavirus fall out, one after another, central banks of developed nations have slashed interest rates. The Reserve Bank of Australia cut its rate to a record low 0.05 percent. The U.S. Federal Reserve slashed interest rates 50 basis points, the sharpest rate cut since the Panic of...

The weeks-long equity market rout paused only briefly last week, but stocks weren’t able to hold their ground. On 4 March, U.S. stocks blipped up 1,173 points, the second-highest point gain ever. Analysts tied the rise to soaring health care stock prices after the Democratic primary’s Super Tuesday, in which Joe Biden scored decisive victories...

In addition to infecting virtually every media headline and lead story, the coronavirus has spread deep into the body politic, the global economy, and equity markets. Seizing on the coronavirus outbreak, political hacks – not an array of qualified doctors and health experts in relevant fields – have taken full control of nations, states, and...