American-Chinese trading relationship is very difficult right now. Tariff threat is once gain hanging upon the Chinese economy and that is causing stocks to extend the decline today, as the end of the trading week is finally here.
South Korean government to battle late hours.
Love of Asian people towards work has practically become legendary. In Japan people are working so much, that sleeping in the workplace is considered good, because that shows the level of exhaustion forced upon people. But that has a dark side. Not so long ago a Japanese reporter has died after having worked around 100 hours a week. And now it is time for employers to battle this.
South Korean government decided that it is possible for them to shut off workers’ computers on 20:00 on Fridays. It is thought that this will prevent all the workers going horrible overtime hours.
The program will begin in just a week on 30 March, with all computers shut off by 20:00.
The second phase will start in April, with computers turned off by 19:30 on the second and fourth Friday.
From May on, the program will be fully implicated, with computers shut off at 19:00 every Friday.
Although exemptions will be made for special occasions.
Hyperinflation in Venezuela takes a toll.
It is no secret that Venezuela has been struggling from economic problems and, as a result hyperinflation for some time now. Yesterday president of the country Nicolas Maduro met with ministers responsible for the economic sector. During the meeting Maduro announced his decision to cut three zeros off the ailing bolivar currencies.
Since spring 2013 bolivar has dropped as much as 99.99 percent comparing to USD. But instead of trying and seriously boost the economy of the country, Maduro chose to knock off zeros from the bills and the prices. Government believes, and that is a certain fact, that American policies towards OPEC partners is hurting the economy of the countries.
Although experts say that these measures are not going to have a healing effect on the economy. This move is simply a game for the citizens of Venezuela to forget about the real state of the national economy.
Stocks, currencies and crude overview.
American-Chinese trading relationship is very difficult right now. Tariff threat is once again hanging upon the Chinese economy and that is causing stocks to extend the decline today, as the end of the trading week is finally here.
Stoxx Europe 600 Index went down 1.2 percent.
Asian markets are down today with no major index or stock growing.
Japanese Topix is down 3.6 percent.
Hang Seng is 2.6 percent lighter.
Kospi is down 3.2 percent.
MSCI Asia Pacific is 2.6 percent smaller.
Dollar decreased 0.2 percent.
yen grew 0.3 percent – 105.01 yen per dollar/
WTI oil added 0.9 percent of the value - $64.89 per barrel.
Gold is at the highest in almost a month - $1340.33 an ounce.
