Bankers go home, tellers stay: virus exposes office inequalities
JPMORGAN asked many of its roughly 37,000 employees in the New York metro area this week to work from home in staggered shifts to stem the spread of the COVID-19 virus. Bank tellers, who account for about half its New York workforce, weren’t included.
Coronavirus fears push gov’t debt yields up as bondholders prefer cash
YIELDS ON government securities (GS) rose almost across-the-board last week as market players sold off their bonds due to the spread of the coronavirus disease 2019 (COVID-19) in the country.
Peso deemed among most resilient currencies in Asia — DoF
THE peso was among the more resilient currencies in Asia amid rising uncertainty and volatility in global financial markets, the Department of Finance (DoF) said.
Peso weakens but comes off lows after stocks rebound
THE peso weakened against the dollar Friday as the market absorbed news of the further spread of coronavirus disease (Covid-19) in the Philippines, but came off its lows after a stock market rebound.
BSP instructs lenders to prepare contingencies as virus spreads
THE BANGKO SENTRAL ng Pilipinas (BSP) is urging financial institutions to carry out measures such as alternate work arrangements to safeguard employees against the coronavirus disease 2019 (COVID-19) outbreak while making sure financial services are available to the public.
Unemployment benefits ready for SSS members
STATE-RUN Social Security System (SSS) has P1.2 billion in unemployment benefits ready for members who will be laid off by companies affected by the spread of the coronavirus disease 2019 (COVID-19), which is projected to result in 30,000 to 60,000 job losses if the pandemic lasts until June.
Insurers face double whammy from coronavirus crisis
LONDON — Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy — a sharp rise in payouts at a time of big investment losses.
Breaking the cycle of poverty
By J. Albert Gamboa
BOAC — It’s the season of Lent and this capital town of Marinduque province is once again in a frenzied preparation for the traditional Moriones Festival on Holy Week.
Peso sinks on virus fears
THE PESO sank against the greenback on Thursday due to negative investor sentiment as the coronavirus disease 2019 (COVID-19) continues to spread around the world, with the outbreak already declared a pandemic.
Yields on BSP’s term deposits drop on virus, lower oil prices
YIELDS ON THE central bank’s term deposit facility (TDF) declined further on Wednesday amid developments in the coronavirus disease 2019 (COVID-19) outbreak and the recent drop in oil prices.
Wells Fargo CEO tells US Congress bank is tackling regulatory issues
NEW WELLS FARGO & Co. Chief Executive Officer (CEO) Charlie Scharf testified on Tuesday that substantial change was under way at the bank as lawmakers grilled him on the status of its remediation efforts and contingency plans related to coronavirus.
Financial firms around the world ramp up their contingency plans as coronavirus hits
FRANKFURT/NEW YORK — Banks and other large financial companies in major cities across the world ramped up their emergency measures to combat the spread of the coronavirus on Tuesday, with Barclays Plc and BlackRock, Inc. confirming one case in their New York offices.