Clients are parking more cash than usual in brokerage accounts as coronavirus fears roil markets. That would be a boon for retail brokerages and custodians where client cash is a critical revenue driver. But there’s a problem. Lower interest rates. On March 15, the Fed cut interest rates to near zero, and retail brokerages and […]
Archives for April 2020
Birx: US needs a ‘breakthrough’ on antigen testing to aid in reopening
Deborah Birx, coronavirus response coordinator, speaks during a news conference at the White House in Washington, D.C., U.S., on Wednesday, April 22, 2020. Michael Reynolds | Bloomberg | Getty Images Dr. Deborah Birx, the White House Coronavirus Task Force coordinator, told NBC News’ “Meet the Press” Sunday that while the coronavirus trends give her “great hope” for […]
View: Integrate local kirana stores in the supply chain of e-commerce
By Pradeep S. Mehta and Sidharth Narayan, CUTS International The government of India has been keen to integrate the local Kirana stores within the e-commerce ecosystem. Talks on it had been ongoing between Ministry of Commerce, Department for Promotion of Industry and Internal Trade (DPIIT), Confederation of All India Traders (CAIT), and e-commerce service providers. […]
Udaan lays off at least 3,000 contract workers
Udaan, a business-to-business commerce online startup, has laid off about 10-15%, or an estimated 3,000-3,500, of its contract staff, according to company executives and staffing agencies that ET spoke to. The job cut is largely driven by the Covid-19 pandemic, which has significantly dented the company’s revenue from non-essential categories including electronics and apparel. Udaan’s […]
China’s Yunnan launches 800,000 T metals stockpiling drive
BEIJING (Reuters) – China’s Yunnan province said on Sunday it would set aside 1 billion yuan ($141.22 million) to help businesses stockpile 800,000 tonnes of nonferrous metal as part of efforts to boost its real economy following the novel coronavirus outbreak. The funds will be used to cover interest on bank loans taken out for […]
Where the Heck is My Stimulus Check? If you haven’t gotten it yet, this may be why.
As the COVID-19 emergency created a massive economic crisis, the federal government passed the CARES Act. Key features of the act include stimulus money to help both impacted businesses and individual Americans. For individuals, funds are arriving. However, you may be among those who have not received what you were expecting and aren’t sure why. […]
Big Four Accounting Firm Wants To Empower Enterprises With Ethereum – Forbes
Paul Brody, Global Blockchain Innovation Leader of EY Getty Images The idea that enterprises could use a public blockchain network is usually met with a lot of skepticism and raised eyebrows by the senior executives in Fortune 500 company boardrooms. Most of the time, engineers and product owners are even scared to mention any of […]
Ban on non-essential sales continues for e-commerce firms
The government on Saturday said that e-commerce players such as Flipkart and Amazon would be allowed to sell only essential goods on their platforms even as offline stores selling non-essential items would be allowed to operate. The Ministry of Home Affairs (MHA) issued a clarification stating the same just hours after issuing guidelines on Friday […]
U.S. FDA warns against malaria drugs Trump championed for COVID-19
(Reuters) – The U.S. Food and Drug Administration on Friday cautioned against the use of malaria drug hydroxychloroquine in COVID-19 patients even as President Donald Trump, who has touted it as a “game changer,” advocated for an additional review. The drug, first approved in 1955, provided no benefit and potentially higher risk of death for […]
Facebook takes aim at Zoom with Messenger Rooms
Facebook on Friday unveiled a new video chat service with virtual “rooms” where people can pop in to visit friends, aiming at users turning to the popular Zoom platform during the pandemic. Through the Facebook Messenger application, users will be able to start video call sessions that as many as 50 friends can join and […]