Money & Finance

The Australian government pledged $79.85 billion to subsidize salaries for over 6 million workers impacted by coronavirus. Prime Minister Scott Morrison emphasized the importance of maintaining economic activity, describing the package as an incentive for businesses to retain staff during the pandemic.

Google is providing $340 million in Ads credits to small and medium-sized businesses with active accounts. As part of a larger $800+ million commitment, CEO Sundar Pichai aims to support businesses struggling during the coronavirus pandemic, offering financial relief to help companies navigate economic challenges.

International law enforcement agencies alert public about coronavirus-related scams, including online shopping fraud, phishing emails, and attempts to steal personal and financial information during the pandemic.

World stock markets sharply soared Tuesday after the US announced a potential $1.8 trillion financial relief package. President Trump's administration and Congress are close to finalizing a deal aimed at cushioning the economic blow from the coronavirus pandemic.

Despite the Association of Stockbroking Companies' recommendation to suspend Bursa Malaysia, the government and exchange authorities have decided to continue stock trading. They argue that market closure would not mitigate pandemic impacts and could potentially cause greater economic harm.

Economists from major financial institutions like JP Morgan and Bank of America predict a global economic recession triggered by the coronavirus pandemic, with market contractions expected between February and April 2020.

Lev Dermen, owner of a California gas station, was found guilty on 10 felony counts for a massive biodiesel fraud scheme. Working with Jacob Kingston and his brother, Dermen helped fraudulently claim government funds by manipulating a federal biodiesel production incentive program, resulting in approximately $500 million in illegal gains.

The Philippines implemented an enhanced community quarantine on Luzon, banning travel, shutting businesses, and suspending work and classes. Millions of Filipinos are experiencing panic and uncertainty as they adapt to prolonged lockdown measures designed to contain the spread of COVID-19.

Malaysia's government announces a comprehensive nationwide lockdown starting March 18, confining over 32 million people to their homes. All public gatherings are banned, non-essential businesses closed, and international travel restricted to prevent coronavirus transmission and protect public health.

The coronavirus pandemic has triggered a massive global stock market decline, with markets falling over 11.5% between March 9-13. The economic impact has been intensified by travel restrictions, service and manufacturing shutdowns, and the concurrent Russia-Saudi Arabia oil price war.