(Bloomberg) -- Two months into the deepest slump in decades, some of Latin America’s major economies are close to losing their main recession-fighting tool -- interest rate cuts.Peru and Chile have already lowered borrowing costs almost to zero, and are being forced to consider new tactics to rescue their crashing economies. Brazil and Colombia may soon be in the same boat.The so-called liquidity trap, when monetary policy loses its traction as interest rates get close to zero, has plagued rich countries for years. Nobel-Prize winning economist Paul Krugman says it has now spread to some emerging markets as well.“There’s nothing about the logic of a liquidity trap which says it can’t happen in a developing country,” Krugman said in a May 8 phone interview.Peru’s central bank last week said it’s ready to use different types of monetary stimulus to sustain demand during the coronavirus pandemic, while Chile’s has started buying bonds...
Initially introduced with a limited production run in 2014 and 2017, Peterbilt Motors Company has brought back the Model 389 Pride & Class package due to popular demand, according to the company. ...
Luckin, a major rival to Starbucks in China, revealed in April that much of its 2019 sales of about 2.2 billion yuan ($310.77 million) were fabricated by its COO and other employees, who had been suspended while the company carried out its investigation. Jenny Zhiya Qian and Jian Liu, who were CEO and COO respectively, will also exit the company's board. Meanwhile, Luckin's chairman, Charles Zhengyao Lu, and Qian handed over shares in the coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan....
Meritor, Inc. recently made some changes to its site, MeritorPartsXpress.com, to help fleets find exactly what they need faster, as well as speeding up the ordering process. ...
