Saturday, November 26News That Matters
Shadow

Tag: slashes

Coronavirus: US slashes rates and launches huge stimulus programme

Coronavirus: US slashes rates and launches huge stimulus programme

Business
The US has cut interest rates to almost zero and launched a $ 700bn stimulus programme in a bid to protect the economy from the impact of coronavirus.It is part of a co-ordinated action announced on Sunday in the UK, Japan, eurozone, Canada, and Switzerland.Announcing the US move, the Federal Reserve said the "outbreak has harmed communities and disrupted economic activity in many countries".Fed chairman Jerome Powell will hold a news conference later on Sunday.US President Donald Trump said the Fed's action "makes him very happy".The Fed has cut rates to a target range of 0% to 0.25%, and said it would it begin buying bonds - quantitative easing - a move that pumps money directly into the economy.The central bank had already cut...
HDFC slashes home loan rate by 0.05 per cent

HDFC slashes home loan rate by 0.05 per cent

Finance
NEW DELHI: In line with the country's largest lender SBI, HDFC Ltd on Friday reduced the benchmark lending rate by 0.05 per cent, a move that will bring down interest rate for existing as well new borrowers. SBI earlier this week slashed in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent. "HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked by 5 basis points with effect from January 6, 2020," the mortgage lender said in a statement. New rates will now range between 8.20 per cent and 9 per cent, and the change will benefit all existing customers, it said. The rate cut by lenders come despite the RBI keeping its benchmark repo rate unchanged at 5.15 per cent in December mon...
Murder suspect slashes own throat during trial

Murder suspect slashes own throat during trial

World
By Tom Gillespie, news reporter A man accused of killing and dismembering a 24-year-old woman slashed his neck and fell from his wheelchair during his murder trial.Aubrey Trail and Bailey Boswell have been charged with first-degree murder following the death of Sydney Loofe in 2017. Just before harming himself in court on Monday, Trail had shouted: "Bailey is innocent and I curse you all."Police officers rushed over to help the 52-year-old as he lay bleeding on the floor of the courthouse in Nebraska.It is unclear what Trail used to slash his throat, but his lawyers said he might have used part of a razor blade. Advertisement The seriousness of his injuries has not been...
Apple slashes iPhone battery replacement cost by $50 amid criticism

Apple slashes iPhone battery replacement cost by $50 amid criticism

Technology
Apple is taking action after coming under scrutiny for slowing down older iPhones as their batteries age. The company was hit with a lawsuit earlier this month alleging that it deliberately "slows down iPhone processors" in older models of the iPhone without the consent of the phone owners. The legal move came after Apple revealed that its new software updates slow down older iPhone devices in order to allow the batteries in older models to keep up with new features. In a statement today, the company emphasized that it would never "do anything to intentionally shorten the life of any Apple product." However, in order to address customers' concerns, Apple announced it would be reducing the price of out-of-warranty replacement batteries for certain phones by $ 50, from $ 79 to $ 29. "We k...