Markets


Trump To Meet Oil Industry Leaders To Discuss Coronavirus Impact On Industry Trump To Meet Oil Industry Leaders To Discuss Coronavirus Impact On Industry
- April 02, 2020

He explained that the Saudi price warfare would "destroy thousands and thousands of small businesses all across Texas and the country", noting that the lawmakers have "historically been the strongest allies in the senate of Saudi Arabia". Goldman Sachs's Jeff Currie said on Bloomberg TV that even Russian Federation is "extremely vulnerable" to oil storage and infrastructure limits because its fields require thousands of miles of pipelines to get to buyers. (more...)
China says manufacturing activity expanded in March, defying expectations of a contraction China says manufacturing activity expanded in March, defying expectations of a contraction
- April 02, 2020

Many warn that manufacturers and overall economic activity will remain under intense pressure in coming months in light of the rapid spread of the virus across the world, the unprecedented lockdowns in several countries and the nearly near certainty of a global recession. (more...)
Oil prices fall amid rising USA inventory, demand fears Oil prices fall amid rising USA inventory, demand fears
- April 02, 2020

But his mission to rein in global supply is overshadowed by the unprecedented loss of demand caused by fight against the coronavirus. Brouillette and Novak "had a productive discussion on the current volatility in global oil markets" that was in continuation of the 30 March phone conversation between the U.S. (more...)
Marriott data breach exposes personal data of 5.2 million guests Marriott data breach exposes personal data of 5.2 million guests
- April 02, 2020

The company said it believes the activity began in mid-January. While the incident is still being investigated, Marriott has said that it has no reason to believe driver license numbers, national identification numbers, passport numbers, or payment information was breached. (more...)
Trump wraps up three-year effort to weaken auto efficiency rules Trump wraps up three-year effort to weaken auto efficiency rules
- April 01, 2020

The administration - like others before it - is facing procedural rules that will make changes adopted before the last six months of Trump's current term tougher to throw out, even if the White House changes occupants. But economists say that if American auto makers focus on building less efficient cars for the US market, they could fall behind globally, and they and their suppliers could suffer. (more...)
China manufacturing bounces back as coronavirus restrictions lift China manufacturing bounces back as coronavirus restrictions lift
- April 01, 2020

China's yuan, however, barely budged, reflecting analysts' views that a sustainable bounce in manufacturing looked some way off despite a slowdown in China's coronavirus infections from its peak in February. China's National Bureau of Statistics said in its announcement of the PMI reading that there was continued improvement in the prevention and control of the outbreak in March, with a significant acceleration in the resumption of production. (more...)
Oil rig closures rising as prices hit 18-year lows Oil rig closures rising as prices hit 18-year lows
- April 01, 2020

Oil tumbled earlier to its lowest point in almost two decades, heading for the worst quarter on record as coronavirus lockdowns cascaded through the world's largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus. (more...)
Stocks drift, still headed to worst quarter since 2008 Stocks drift, still headed to worst quarter since 2008
- March 31, 2020

USA stock markets are down 21.8 percent since January 1, on track for the worst quarter since 1987 and the worst first quarter ever. In response to falling prices and quickly diminishing storage capacity, global producers are shutting down rigs at the quickest pace in 35 years, especially in landlocked areas of the United States, where the shale oil industry is seen as especially vulnerable to the negative market forces. (more...)
Gas prices falling in Tennessee as COVID-19 slows travel demand Gas prices falling in Tennessee as COVID-19 slows travel demand
- March 31, 2020

Gas prices are plunging primarily because Floridians are not driving as much as they normally do this time of year . Gasoline prices are continuing to fall but, unlike the national average, the average in the Pittsburgh area remains above $2 per gallon, according to price-tracking service GasBuddy . (more...)
Disney Cruise Line Extends Suspension of New Departures Through April 28 Disney Cruise Line Extends Suspension of New Departures Through April 28
- March 31, 2020

Seabourn announced today that it will extend the voluntarily pause of global operations for its five cruise ships for an additional 30 days. Guests and travel advisors are urged to use Carnival's website as its offices in the greater Miami area remain closed at the direction of local officials. (more...)
Apple's Next iPhone 12 To Have New LiDAR Sensor With Registered Design Apple's Next iPhone 12 To Have New LiDAR Sensor With Registered Design
- March 31, 2020

However, since the employees have been working from home, Apple has eased some of the rules and is allowing employees to take devices home with them. We have no doubt that a new report will emerge within the next 24 hours refuting this claim, but amid all the rumors and reports of anonymous origin, Bloomberg It carries a lot of weight when it comes to reporting on Apple. (more...)
Chancellor offers a lifeline to the self-employed Chancellor offers a lifeline to the self-employed
- March 31, 2020

Explaining the delay in the House of Commons on Tuesday, Sunak said there were "practical reasons" why it was "incredibly complicated" to create an equivalent package for the self-employed. These include a strengthening of the welfare safety-net with a £7 billion boost to Universal Credit, income tax and VAT deferrals, £1 billion more support for renters and access to three-month mortgage holidays. (more...)
Coronavirus: 48 new cases reported in China Coronavirus: 48 new cases reported in China
- March 31, 2020

China simply want "the triumph, vindication, and success" for its handling of bringing the coronavirus under control to a point, but neglects the start of the pandemic where it "lost vital time" says The Lowy Institute's Richard McGregor. (more...)
Air Canada to lay off another 16,500 workers, slash capacity by 90% Air Canada to lay off another 16,500 workers, slash capacity by 90%
- March 31, 2020

It includes a pledge from both the CEO and chief financial officer Mike Rousseau to forego 100 per cent of their salaries, while the rest of the executive team will give up between 25 per cent and 50 per cent. It will draw down about $1 billion in operating lines of credit for additional liquidity and suspend its share buyback program on March 2. On top of the temporary reductions in the workforce, Air Canada will also be implementing other measures. (more...)
Macy's to furlough majority of its 130,000 workers Macy's to furlough majority of its 130,000 workers
- March 30, 2020

Widespread lockdowns to arrest the spread of the outbreak have hammered sales for the retailer as most of its physical stores remain closed, despite the online business staying up and running. " At least through May , furloughed colleagues who are enrolled in health benefits will continue to receive coverage with the company covering 100 percent of the premium", the company said. (more...)
Ferry operators call for inclusion in COVID-19 travel restrictions Ferry operators call for inclusion in COVID-19 travel restrictions
- March 30, 2020

He urged companies eligible for the subsidy to rehire employees who have already been laid off, and also asked businesses to pay the 25 per cent not covered by the subsidy if they're able to do so. The Liberals had initially announced a 10 per cent wage subsidy for small businesses, which was roundly criticized as too low. "While the COVID-19 pandemic affects all Canadians, some people and communities are more at risk to its impacts". (more...)
Amazon Entices Warehouse Employees To Grocery Unit With Higher Pay Amazon Entices Warehouse Employees To Grocery Unit With Higher Pay
- March 30, 2020

Amazon employees at a NY facility are planning to walkout on Monday amid concerns about safety as the coronavirus spreads. He says the company has not been transparent about how many employees at the Staten Island location have tested positive for Covid-19 and have taken insufficient safety precautions, including allowing one of his colleagues to return to work while awaiting her test results. (more...)
Scott Morrison announces $1500 fortnightly payment for workers hit by coronavirus crisis Scott Morrison announces $1500 fortnightly payment for workers hit by coronavirus crisis
- March 30, 2020

Prime Minister Scott Morrison said the unprecedented measure is created to prevent loads of people from being unemployed with no income flowing in. There are now 4166 confirmed cases across the country. It's already been nicknamed the " job keeper allowance ". Significantly, the wage entitlements announced yesterday will not be made through the welfare system. (more...)
Microsoft to end investments in facial recognition companies after AnyVision controversy Microsoft to end investments in facial recognition companies after AnyVision controversy
- March 30, 2020

USA Eric Holder and his team at the global law firm Covington & Burling found that "AnyVision's technology has not previously worked and is now not driving a mass surveillance program in the West Bank that is alleged in media reports". As far back as 2018, Microsoft president, Brad Smith had been calling on the U.S. government to make clear and solid regulations to govern the use of these sensitive technologies. (more...)
Public Gatherings Limited To Two People To Stop Coronavirus Spread Public Gatherings Limited To Two People To Stop Coronavirus Spread
- March 30, 2020

Morrison also advised that those aged over 70, with a chronic illness aged over 60, and Indigenous Australians over the age of 50 should stay at home . "I can assure you over the next few months, we're going to consider those jigsaw puzzles absolutely essential". "Our kids are at home now, as are most kids, and Jenny went out yesterday and bought them a whole bunch of jigsaw puzzles". (more...)

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