Global powers unleash trillions of dollars to stem spiraling coronavirus crisis

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Global powers unleash trillions of dollars to stem spiraling coronavirus crisis
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The world's richest nations prepared more costly measures on Tuesday to com...

Underlining how the crisis has shaken even the most august of institutions, Britain’s Church of England suspended services while 93-year-old Queen Elizabeth was to move from Buckingham Place to Windsor Castle outside London, where she and her sister, Margaret, were sent for safety during the blitz of London in World War Two.

The European Union eased its rules to allow companies to receive state grants up to 500,000 euros or guarantees on bank loans to ensure liquidity. With various central banks around the world having cut interest rates to try and help beleaguered economies, investors fret that the banks may have used up their policy ammunition early with far longer to go before the global health crisis is curbed.

Pakistan suspended its cricket Super League after an overseas player developed symptoms of coronavirus, the Kentucky Derby horse race was postponed from May until September, and there was continued speculation over the fate of the Olympics in Japan.Brazil recorded its first coronavirus death while Peru put its military on the streets.

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