Travel & Leisure News

Australia Likely To Keep Borders Closed Until 2021 Due to COVID-19

The country is unlikely to open its borders to international travelers until at least 2021

Don’t expect to fly into Australia anytime soon. According to Trade Minister Simon Birmingham, the country is unlikely to open its borders to international travelers until at least 2021 due to the pandemic. Birmingham also told the National Press Club it is “more likely” Australians will be banned from overseas travel until 2021 as well — unless under special exemptions for limited business travel, the New Zealand Herald reports.

“I hope that we can look eventually at some of those countries who have similar successes in suppressing the spread of COVID to Australia and New Zealand, and in working … with those countries to find safe pathways to deal with essential business travel that helps to contribute to jobs across our economies,” Birmingham said, adding that “in terms of open tourist-related travel in or

Read More

Explaining the market rally in Wall Street’s terms

By April Joyner and Kate Duguid

NEW YORK (Reuters) – Risk assets such as stocks and high-yield corporate bonds have climbed over the past two-and-a-half months despite a dire global economic outlook in the wake of the novel coronavirus pandemic.

The rally has left some market observers scratching their heads but has also given rise to a bundle of jargon – some old, some new – attempting to explain recent trends. Here’s a guide to what’s driving financial markets now, in Wall Street’s own words.

DON’T FIGHT THE FED

One key factor in Wall Street’s climb, strategists say, is the unprecedented monetary support from the Federal Reserve, including purchases of corporate bonds and exchange-traded funds. The Fed’s balance sheet has expanded by some $3 trillion since March. Those actions have revived the slogan “Don’t fight the Fed,” as the liquidity supplied by the U.S. central bank has fueled an upward

Read More

Hong Kong Disneyland reopens, consumers using less cash

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus.

________________________

TRAVEL & LEISURE:

— Hong Kong Disneyland officially reopened on Thursday after a major drop in coronavirus cases in the Chinese territory. Advance reservations will be required and only limited attendance will be allowed at the park, one of the pillars of Hong Kong’s crucial tourism industry.

Social distancing measures are being implemented in lines, at restaurants, on rides and at shops, while cleaning and disinfecting will be increased. Visitors will have their temperatures checked at the entrance and will be required to wear masks at all times inside the park, except when eating and drinking.

Disney is planning to reopen its parks in California and Florida next month.

— U.S. state and

Read More

Greggs, Cineworld Reopening Plans Give Some Relief to Shares

(Bloomberg) — Britons will soon be able to purchase hot Greggs Plc sausage rolls and go to movie theaters again, boosting shares of the bakery chain and cinema operator Cineworld Group Plc.

Greggs will reopen around 800 shops to takeaway customers on Thursday, while Cineworld plans to lift the shutters on cinemas across some territories during the last week of June, with all theaters set to be open over the course of July. Both companies are implementing social distancing and other measures to counter the spread of coronavirus as part of their plans.

Greggs shares rose as much as 5.5% on Tuesday, the biggest advancer in the FTSE 350 Food & Drug Retailers Index, while Cineworld climbed as much as 11%, outpacing Europe’s Stoxx 600 Travel & Leisure Index. Even after Tuesday’s gains, the stocks are still down 25% and 62%, respectively, in the year to date.

The bakery chain

Read More