Offshoring business operations to captive centres has proven to be a cost-effective and efficient strategy
realty1 hour ago
Bars, restaurants, theatres and movie houses in New York and Los Angeles were ordered to shut down to combat the spread of the coronavirus pandemic as central banks around the world took aggressive steps to cushion the economic impact of the disease.
The US Federal Reserve slashed interest rates, for the second time in less than two weeks, to near zero and other central banks followed suit but stock markets and the dollar continued to tumble.
Europe’s main stocks markets plunged more than 6 per cent in brutal opening trading while Wall Street futures for the S&P 500 index had hit their downlimit in the first quarter-hour of Asian trade as investors rushed for safety.
At an emergency meeting, the Bank of Japan further eased monetary policy by ramping up purchases of exchange-traded funds and other risky assets.
Leaders of the G7 countries will hold a video conference at 1400 GMT on Monday to discuss a joint response to the coronavirus outbreak, officials have said.
New York Mayor Bill de Blasio said on Sunday he was ordering restaurants, bars and cafes to only sell food on a take-out or delivery basis. He also said he would order nightclubs, movie theatres, small theatre houses and concert venues to close.
Schools in NYC also suspended classes as the city gears up for digital learning from March 23.
Today, we made the painful decision to suspend classes in all NYC public schools, beginning tomorrow March 16. We’re going to begin remote digital learning on Monday March 23, and we’ll do everything in our power to help our kids through this.
— Mayor Bill de Blasio (@NYCMayor) March 15, 2020
Offshoring business operations to captive centres has proven to be a cost-effective and efficient strategy
realty1 hour ago
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