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No Name, The impact of spreading virus on businesses and economy

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protraderelite.com

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EMAIL}/redirect Posted on Tuesday, March 3rd, 2020 By The Associated Press AID AVAILABLE: The World

[Image]( EMAIL}/redirect (Advertisement) Posted on Tuesday, March 3rd, 2020 By The Associated Press AID AVAILABLE: The World Bank announced Tuesday that it is making $12 billion available to provide immediate support to low-income countries dealing with the health and economic impacts of the coronavirus. World Bank President David Malpass said the money will go to help developing nations strengthen their health systems that are fighting an epidemic that has already spread to more than 60 countries. “The point is to move fast,” Malpass told reporters. “Speed is needed to save lives.” Of the $12 billion in support, $8 billion represents new funds and $4 billion is being re-allocated from existing programs, Malpass said. The World Bank funds are designed to help countries detect when the virus crosses their borders and purchase medical equipment to treat any outbreaks. PUBLIC FORUMS: The 189-nation International Monetary Fund and its sister lending organization, the World Bank, announced Tuesday that they will replace their regular spring meetings in Washington with a “virtual format” in response to the coronavirus. In a joint statement, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass said their decision was being made given “growing health concerns related to the virus.” The two global lending organizations normally hold an annual spring meeting in Washington, where they both have their headquarters. This year’s meeting had been scheduled for the week of April 13. The statement said that the agency would fully employ their Information Technology facilities “to the fullest” to allow member countries to hold essential policy consultations that would have taken place in person. CORPORATE TRAVEL: Due to the coronavirus threat, Ford Motor Co. and Fiat Chrysler Automobiles are requiring executive approval for air travel, with few exceptions. EMAIL}/redirect (Advertisement) In a memo to employees Tuesday, Ford CEO Jim Hackett said the company would ban all but essential travel through March 27. The decision will be reviewed weekly. Fiat Chrysler is telling employees that all travel must be pre-approved by a leadership team member “and that travel be prioritized to essential needs only.” The restrictions are among the most severe with regard to U.S. corporations. Hackett said in the memo that the decision was based on based on statements by government infectious disease specialists. The memo said exceptions would have to be approved by senior management. They have to be essential to company operations and be tasks that can only be done in if the traveler is physically present. Exceptions also cannot create an unacceptable health risk. They may be granted for something like the start of vehicle manufacturing, according to the memo. EMAIL}/redirect (Advertisement) “We ask that you look out on your calendar at least 90 days and find creative ways to complete work without traveling or having people needlessly come to us,” Hackett's memo said, encouraging use of video conferences, telephone conversations and email. On Sunday, Twitter tightened its guidance for employees on travel, but it was not an outright ban. CONFERENCES GOING DARK: Adobe says it has canceled the in-person version of its eponymous Summit, scheduled for March 29 to April 2 in Las Vegas, due to concerns about COVID-19. More than 20,000 people were expected to attend the conference, which will be held as an "online experience" this year, the company said. The move comes as trade events, conferences and other gatherings are being canceled — or moved online — around the world due to fears about the fast-spreading virus. Google, meanwhile, said it is canceling its annual developers conference, Google I/O, that was to be held starting May 12 in Mountain View, California, due to concerns about coronavirus. The company may consider "other ways to evolve Google I/O," a spokeswoman said, suggesting it could hold digital events. Google has also halted international travel for all employees. TV AND PARKS: NBC parent company Comcast said that because of insurance and the way contracts are written, NBC won’t suffer losses if the Olympics are canceled, but it’ll miss out on ad-driven profits, which were $250 million for the 2016 Rio Olympics. Comcast also said that the closure of the Universal Studios Japan theme park for two weeks will hurt a key NBCUniversal profit measure by an additional 7% to 9% in the first quarter. The company also had to suspend construction of Universal Studios Beijing, but Comcast CEO Brian Roberts says "we're back working" and expects to open the park on time in May 2021. CAPITALISTS’ WOODSTOCK: Investor Warren Buffett's company plans to hold its annual meeting on May 2 regardless of the status of the ongoing virus outbreak that began in China. Berkshire Hathaway said in a statement that the size of the meeting, which typically attracts roughly 40,000 people, could change this year because of the coronavirus outbreak, but the company plans to go ahead with the event in Omaha, Nebraska. “The scope of the meeting and associated activities may be modified by circumstances at the time, but we have no present plans to do so,” Berkshire Hathaway said. The meeting attracts throngs of people who want to listen to Buffett and Berkshire Vice Chairman Charlie Munger answer questions over several hours. The meeting itself will again be broadcast online by Yahoo Finance, so investors don't have to travel to hear Buffett's and Munger's answers. EMAIL}/redirect (Advertisement) To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below: [SIGN ME UP NOW]( © 2019 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. 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Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewer’s entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company’s filings with the Securities and Exchange Commission. However, acompany’s past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (“SEC”) website www.sec.gov and the Financial Industry Regulatory Authority (“FINRA”) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website. PTE Team 9 Downing street Newark NJ 07105 USA [Unsubscribe]( | [Change Subscriber Options](

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