2020.03.23

News Headlines - 23 March 2020

Olympics 2020 postponed: IOC member says coronavirus forces change

Veteran International Olympic Committee member Dick Pound told USA TODAY Sports on Monday afternoon that the 2020 Tokyo Olympic Games are going to be postponed amid the coronavirus pandemic.
“On the basis of the information the IOC has, postponement has been decided,” Pound said in a phone interview. “The parameters going forward have not been determined, but the Games are not going to start on July 24, that much I know.”
Pound, a Canadian who has been one of the most influential members of the IOC for decades, said the Games will likely be moved to 2021, with the details to be worked out in the next four weeks. He said he expects the IOC to announce its next steps soon.

Fed announces unlimited QE and sets up several new lending programs - MarketWatch

The Federal Reserve on Monday announced it would purchase an unlimited amount of Treasurys and mortgage-backed securities in order to support the financial market. The Fed said it would buy assets "in the amounts needed" to support smooth market functioning and effective transmission of monetary policy. The Fed had previous set a $700 billion limit for asset purchases. In addition, the Fed announced several new lending programs worth $300 billion to support companies hurt by the shutdown of the U.S economy. In a statement, the Fed said aggressive efforts must be taken to limit the losses of jobs and income.

SoftBank stock has best day in 12 years after unveiling huge buyback plan - CNN

SoftBank announced a mammoth plan Monday to sell $41 billion worth of assets, buy back shares and shore up its finances, giving the company's stock its best day in more than a decade.
The plan involves selling or liquidating up to 4.5 trillion Japanese yen ($41 billion) worth of holdings, which the Japanese tech group says will help it repurchase up to 2 trillion Japanese yen ($18 billion) in stock, its second big buyback in a month.
The remaining funds will be used to pay off debt, buy back bonds and improve cash flow, according to the company. It said the transactions would take place over the next year.

Chinese inquiry exonerates coronavirus whistleblower doctor | The Guardian

The Chinese doctor who was reprimanded for “spreading rumours” after he sought to warn colleagues about the emergence of Covid-19 has been officially exonerated by an investigation into his death.
However the report has also been criticised for not going far enough, after it only recommended the reprimand against Dr Li Wenliang be withdrawn.
Li had posted to a group chat with other medics about some patients showing signs of a new Sars-like illness in early December, well before Chinese authorities admitted to the outbreak of a novel coronavirus.

Harvey Weinstein Tests Positive for Coronavirus in Prison | Time

Harvey Weinstein tested positive for the coronavirus at a state prison in New York while serving a 23-year sentence for rape and sexual assault, the head of the state correctional officers union said Monday.
The 68-year-old former film producer, who was hospitalized with heart issues in recent weeks, was diagnosed and quarantined just days after being transferred to the state’s maximum security Wende Correctional Facility near Buffalo.
Weinstein was previously locked up at New York City’s notorious Rikers Island jail complex, which has had a spate of coronavirus cases.

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