Wall St up on $US2.3 trillion Fed backstop

Wall St up on $US2.3 trillion Fed backstop

Wall Street has risen for the third time in four days as the US Federal Reserve rolled out a massive $US2.3 trillion program to bolster local governments and businesses, while energy stocks have jumped on an expected cut in oil production. In what is likely to be its...
Wall St up on $US2.3 trillion Fed backstop

Global stocks up on hopes pandemic at peak

Global shares have risen on hopes the COVID-19 pandemic is nearing a peak and that governments will roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices. European stock markets gained for a fourth...
Wall St up on $US2.3 trillion Fed backstop

Foxtel Australian Pay-TV slashes jobs

Australia’s pay-TV leader Foxtel has made 200 staff redundant, as it struggles to cope with the impact of coronavirus and the changing media landscape. It has also put 140 additional staff, mostly in its Fox Sports division, on leave until June. The company, 65...
Wall St up on $US2.3 trillion Fed backstop

S&P: 1 in 3 chance of Aust downgrade

Australia’s government has a one in three chance of losing its AAA credit rating from its virus spending, says the agency that flagged a negative outlook. Standard & Poor’s international public finance director Anthony Walker says the downgrading of...
Wall St up on $US2.3 trillion Fed backstop

GFC reforms will help in virus crisis: RBA

The COVID-19 pandemic is putting a major strain on the global financial system but reforms put in place after the 2008 global financial crisis are helping banks weather the storm, the Reserve Bank of Australia says. Banks have more capital, less liquidity and less...