In the Reserve Bank of Australia’s minutes of its June monetary policy meeting released Tuesday, the central bank’s board “recognised that the substantial, coordinated and unprecedented easing of fiscal and monetary policy in Australia was helping the economy through this difficult period.”
Officials in China’s capital city reported a total of 79 confirmed cases of Covid-19 since June 11.
“The answers lie in careful, systematic, exhaustive investigation of disease clusters to really look at what is happening in these situations and what is causing the amplification of the disease in the human context,” said the WHO’s Dr. Mike Ryan.
As many countries around the world grapple with a resurgence of new Covid-19 cases, Dr. Maria Van Kerkhove said, health officials need to be on alert.
President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.
Trump also said in the White House Rose Garden that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.
The Trump administration has previously blamed China for the unfolding health crisis caused by the coronavirus, and it has criticized Beijing for its illegal territorial claims in the South China Sea.
Wall Street’s top traders say a combination of unprecedented monetary and fiscal stimulus appears to have pacified the market.
Stanley Druckenmiller and Paul Tudor Jones both said this week that the S&P 500′s robust rally since March has humbled them.
An unparalleled response from the Fed and Congress has provided businesses with one of the most powerful safety nets ever, says strategist Quincy Krosby.
U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges, but Beijing has resisted.
More than a decade ago, hundreds of Chinese companies went public in the U.S. via reverse mergers, merging into public but mostly dormant U.S. companies, and many turned out to be frauds.
Efforts to solve the problem are getting more traction due to the escalation of trade disputes with China.
TikTok’s latest transparency report shows that it took down 49 million videos for content violations from July 2019 to December 2019.
It also received over 500 government requests during that time, up from 296 in the first of half 2019.
It says none of them were from China or Hong Kong.
Saudi Arabia is considering canceling the annual hajj pilgrimage this year because of the coronavirus pandemic, the Financial Times reported.
The hajj, which involves traveling to the holy city of Mecca, is a mandatory ritual for all observant Muslims who can afford the trip and physically complete the journey to the Arabian peninsula.
“The data was collected through the middle of June,” the firm’s chief market strategist told CNBC’s “Trading Nation” late last week. “It was really the second half of June when we saw states like where I am here in Texas start to reverse their opening up plans. That did not get captured in this number completely.”
“Although many countries have made some progress, globally, the pandemic is actually speeding up,” WHO chief Tedros Adhanom Ghebreyesus said during a virtual news conference.
The virus has infected more than 10.1 million people around the world and killed at least 502,634 people, according to data compiled by Johns Hopkins University.
“The single most important intervention is … tracing and quarantine contacts,” he said. “Six months since the virus started, it could be like a broken record to say exactly the same thing, but the same thing works. Test, test, isolate, quarantine cases.”
The new strain has descended from the type of flu (“swine flu”) that emerged in 2009 causing the first global flu pandemic in 40 years.
As with swine flu, however, the new strain has been identified as having “all the essential hallmarks of a candidate pandemic virus.”
The new strain of flu should be monitored closely, scientists say.
