Day: March 17, 2020

U.S. Futures Gain After Worst Stock Rout Since ‘87: Markets Wrap

(Bloomberg) —

U.S. futures advanced and the yen slid in volatile trading after the biggest plunge in Wall Street stocks since 1987. Asia-Pacific shares ranged from a further drop in South Korea to gains in Australia.

Japan’s share benchmark swung from a loss of 3% to a gain of more than 3%. Australia jumped. Hong Kong and China fluctuated. S&P 500 and Nasdaq futures reached their limit-up. The S&P 500 Index sank 12% Monday, erasing its gain for 2019, after President Donald Trump warned of a possible recession, with economic disruption from the coronavirus potentially extending into summer. Treasury yields

SGST short of FY20 target by a quarter

In the year GST was launched, the protected revenue for states stood at around Rs 43,000 crore per month.

 

The states’ own GST revenues — SGST receipts minus the compensation from the Centre — were short of the aggregate protected level by Rs 1.15 lakh crore or 23% in April-February this year, according to data reviewed by FE. The gap will likely remain roughly at the same level in percentage terms for the year as a whole, implying an annual shortfall of a whopping Rs 1.25 lakh crore. Clearly, the compensation funds will fall short of bridging the gap.

In

‘Single biggest shock’: Airlines, airports battle coronavirus cash crunch

Australian airports are set to lose more than A$500 million ($306.45 million) in take-off and landing fees this year as capacity plunges, the Australian Airports Association said. (Reuters photo)

As Boeing and other U.S. aviation companies angle for billions in assistance, airlines and airport operators globally are suspending dividends, selling airplanes and flying cargo on passenger jets amid plunging demand caused by the pandemic.

Boeing Co confirmed it is in talks with senior White House officials and congressional leaders about short-term assistance for the entire U.S. aviation sector, including suppliers, airlines and airports. U.S. airlines and cargo carriers have said