Day: May 13, 2020

Powell to Address Dire Outlook Amid Bets on Negative Rates

(Bloomberg) — Jerome Powell and his Federal Reserve colleagues are staring down the possibility of mass bankruptcies and long-lasting unemployment unless there’s a more concerted government effort to shield the U.S. economy from the impact of the coronavirus pandemic.

That’s the context in which the Fed chair will speak Wednesday at 9 a.m. during a virtual event with the Peterson Institute for International Economics in Washington, though he may be loath to give clear hints on future monetary policy, with the central bank’s next rate decision still a month out.

Some investors are looking for insights into how hard Powell’s

Modi’s Rs 20 lakh cr package LIVE updates: Half of it already delivered; FM Sitharaman detailed address today

Modi’s special economic package: The economic package, worth Rs 20 lakh crore, is larger-than-expected and is equivalent to 10% of India’s GDP. 

PM Modi’s Rs 20 lakh crore special economic package: Prime Minister Narendra Modi, in his quintessential shock-and-awe style, yesterday announced a humongous economic package, including previous packages by RBI and the government, to make India a self-reliant economic powerhouse in the decade to come. The economic package, worth Rs 20 lakh crore, is larger-than-expected and is equivalent to 10% of India’s GDP.  The special economic package will be targeted towards all classes of society, for all Indians

How Maggi, KitKat supplies didn’t stop during lockdown; why coronavirus failed to hurt Nestle

E-commerce also lent a helping hand to Nestle and drove its growth.

As the FMCG sector struggles to keep up with supply chains and has majorly reported a sales decline barring a few products such as handwashes during the coronavirus lockdown, Nestle India has outshone its peers. The maker of Munch and KitKat range of chocolates has reported a double digit domestic sales increase with its Maggi and chocolates portfolio driving growth. “Nestle’s strong sales growth for the quarter compared with the sales decline of its peers indicates lower impact of lockdown on its efficient supply chain as well as