29 March 2020
1300 794 893
search
search
Subscribe
AP/DAN HIMBRECHTS

5 things you need to know today

Switzer Daily
18 March 2020

1. Donald Trump approved a $US1 trillion stimulus plan that would send cheques to US households to cover costs of living, as well as provide tax relief and offer assistance to sectors in the economy that have been hit hardest by coronavirus. According to Treasury Secretary Steven Mnuchin, there were no details on the amount except that it would be “significant and millionaires would not get it”. The proposal is awaiting approval from Congress.

2. Leaders of European Union countries have decided to close the external borders of the EU for 30 days, but travel between countries within the EU will still be allowed. Canada has also closed its borders with exceptions to US citizens. 

3. Britain have promised emergency funding support to virus-hit businesses as the country prepares for a lockdown. “We must act like a wartime government and do whatever it takes to support our economy,” said President Boris Johnson.

4. Meanwhile, Australia have unveiled relief measures for regional airlines including Qantas and Virgin, which would total to $715 million. Deputy Prime Minister Michael McCormack estimated the initial benefits would cost up to $159 million, which would reimburse domestic airlines for coronavirus-inflicted impacts from the beginning of February.

5. Wall Street charged upward on Tuesday with the Dow closing over 1000 points higher at 5.20%, S&P 500 up 6.00% at 2,529.19 and Nasdaq up 6.23% at 7,334.78.

Click here to sign up for a free 21-day trial to the Switzer Report.

Let us know what you think
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
Subscribe
1300 794 893
© 2006-2019 Switzer. All Rights Reserved
homephoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram