Markets
U.S. crude prices down to $0 per barrel
- April 21, 2020
The US Department of Energy's (DoE) emergency petroleum supply will be filled to the brim, Trump said at the White House Coronavirus Task Force briefing on Monday. "Much of it has to do with short-sellers", he said. With people staying home, losing jobs, not traveling or living life in a normal way, oil isn't worth much. (more...)
- April 21, 2020
The US Department of Energy's (DoE) emergency petroleum supply will be filled to the brim, Trump said at the White House Coronavirus Task Force briefing on Monday. "Much of it has to do with short-sellers", he said. With people staying home, losing jobs, not traveling or living life in a normal way, oil isn't worth much. (more...)
Alberta reports four more deaths from COVID-19, 105 new confirmed cases
- April 21, 2020
Numerous cases identified in the Calgary Zone over the weekend were linked to this broader outbreak". There were 241 new cases of COVID-19 and four additional deaths in Alberta, announced by the province Sunday. Jia Hu with AHS. But many questions posed by callers portrayed an underlying anxiety about their well-being and that of their families. "We are concerned about the number of cases and want to work with everyone - policymakers, labor and our neighbors - to focus on keeping people ... (more...)
- April 21, 2020
Numerous cases identified in the Calgary Zone over the weekend were linked to this broader outbreak". There were 241 new cases of COVID-19 and four additional deaths in Alberta, announced by the province Sunday. Jia Hu with AHS. But many questions posed by callers portrayed an underlying anxiety about their well-being and that of their families. "We are concerned about the number of cases and want to work with everyone - policymakers, labor and our neighbors - to focus on keeping people ... (more...)
Branson Says He Will Use Island to Secure Loans
- April 21, 2020
They'll seek to bring in new investors, reorganize borrowings or find a buyer to save the business. Virgin began in Australia in 2000 as Virgin Blue and became a major player in the domestic market after the collapse of Ansett Australia the following year. (more...)
- April 21, 2020
They'll seek to bring in new investors, reorganize borrowings or find a buyer to save the business. Virgin began in Australia in 2000 as Virgin Blue and became a major player in the domestic market after the collapse of Ansett Australia the following year. (more...)
Trump says getting close to deal with Democrats on coronavirus stimulus
- April 21, 2020
He told his daily White House briefing on the crisis that Republicans were "close" to getting a deal with Democrats, and suggested there could be a resolution on Monday. Mnuchin said on CNN he hoped to see the agreement pass the Senate on Monday and the House on Tuesday. Mnuchin, however, said Trump wants additional funding for state and local governments - stretched to the limit as they battle the pandemic - included in a broader bill to come later, not in the interim package. (more...)
- April 21, 2020
He told his daily White House briefing on the crisis that Republicans were "close" to getting a deal with Democrats, and suggested there could be a resolution on Monday. Mnuchin said on CNN he hoped to see the agreement pass the Senate on Monday and the House on Tuesday. Mnuchin, however, said Trump wants additional funding for state and local governments - stretched to the limit as they battle the pandemic - included in a broader bill to come later, not in the interim package. (more...)
Trump insists again that states are responsible for coronavirus testing
- April 20, 2020
Trump is pushing to begin easing the USA lockdown in some states even before his own May 1 deadline, a plan that health experts and governors from both parties say will require a dramatic increase in testing capacity. Many states now have a surplus of ventilators. "In either event they should have let us go in", he said. "But we are helping them a lot and we want to help them a lot". (more...)
- April 20, 2020
Trump is pushing to begin easing the USA lockdown in some states even before his own May 1 deadline, a plan that health experts and governors from both parties say will require a dramatic increase in testing capacity. Many states now have a surplus of ventilators. "In either event they should have let us go in", he said. "But we are helping them a lot and we want to help them a lot". (more...)
Three new cases of COVID-19 identified in Manitoba on Saturday
- April 20, 2020
Another 121 people have recovered. "The recent numbers in Manitoba are showing that we were never helpless against this virus". If you are concerned about your exposure to or risk of having COVID-19 provincial health encourages you to call Health Links at 204-788-8200 or 1-888-315-9257 to be screened to determine if a test is required. (more...)
- April 20, 2020
Another 121 people have recovered. "The recent numbers in Manitoba are showing that we were never helpless against this virus". If you are concerned about your exposure to or risk of having COVID-19 provincial health encourages you to call Health Links at 204-788-8200 or 1-888-315-9257 to be screened to determine if a test is required. (more...)
Worldwide Oil Production Agreement Ends Global Price War
- April 20, 2020
Here's how multiple experts reacted to the latest developments. According to Yergin, the national security implications of the price war on the US oil industry have prompted Trump to step in. The U.S., Brazil and Canada will contribute an additional 3.7 million barrels in nominal production reductions as their output declines, and other Group of 20 nations will cut 1.3 million more. (more...)
- April 20, 2020
Here's how multiple experts reacted to the latest developments. According to Yergin, the national security implications of the price war on the US oil industry have prompted Trump to step in. The U.S., Brazil and Canada will contribute an additional 3.7 million barrels in nominal production reductions as their output declines, and other Group of 20 nations will cut 1.3 million more. (more...)
Weak oil prices, China's poor Q1 drag ringgit down at opening
- April 20, 2020
On Monday, a technical oddity exacerbated the price plunge as traders fled the May futures contract ahead of its expiration tomorrow, driving it down as much as 56% to the lowest level since futures began trading in NY in 1983. "Physical oil traders have no space available", said Ole Hansen, head of commodity strategy at Saxo Bank, "If they had space, they could buy May crude oil, take delivery, store it and then sell it back into the market in June, earning a one-month return of close to 60%". (more...)
- April 20, 2020
On Monday, a technical oddity exacerbated the price plunge as traders fled the May futures contract ahead of its expiration tomorrow, driving it down as much as 56% to the lowest level since futures began trading in NY in 1983. "Physical oil traders have no space available", said Ole Hansen, head of commodity strategy at Saxo Bank, "If they had space, they could buy May crude oil, take delivery, store it and then sell it back into the market in June, earning a one-month return of close to 60%". (more...)
Oil Futures Drop To 1999 Levels With Demand Falling, US Storage Scarce
- April 20, 2020
There's no love for oil in this market still. Soon to be expiring contracts are typically traded in lower volumes. This may prove to be one of the worst deliveries in history. However, analysts said the sell-off was exaggerated by the contract's imminent expiry. "Because producers have been lagging in their production cuts we're seeing an overwhelming amount of crude oil looking for a place to go around the world". (more...)
- April 20, 2020
There's no love for oil in this market still. Soon to be expiring contracts are typically traded in lower volumes. This may prove to be one of the worst deliveries in history. However, analysts said the sell-off was exaggerated by the contract's imminent expiry. "Because producers have been lagging in their production cuts we're seeing an overwhelming amount of crude oil looking for a place to go around the world". (more...)
Walmart to Hire 50K More Workers After Filling 150K Jobs During Pandemic
- April 20, 2020
The brand recently committed to hiring more than 150,000 new associates by the end of May. Retail giant Walmart said it would hire thousands of new employees to help it keep pace with surging demand for food and supplies as Americans stock up to get through the COVID-19 pandemic, Reuters reported . (more...)
- April 20, 2020
The brand recently committed to hiring more than 150,000 new associates by the end of May. Retail giant Walmart said it would hire thousands of new employees to help it keep pace with surging demand for food and supplies as Americans stock up to get through the COVID-19 pandemic, Reuters reported . (more...)
Oil sinks after record 19 million-barrel US crude build
- April 20, 2020
The rise of USA oil production thanks to the tapping of shale deposits has disrupted the global markets in recent years as ample supplies have weighed on prices, forcing OPEC and its allies to restrain production. One of the reasons why May crude futures have not gained is that the estimated drop in demand destruction due to the coronavirus crisis is 20 million barrels per day, prompting many experts to say a supply response has limited ability to balance the market. (more...)
- April 20, 2020
The rise of USA oil production thanks to the tapping of shale deposits has disrupted the global markets in recent years as ample supplies have weighed on prices, forcing OPEC and its allies to restrain production. One of the reasons why May crude futures have not gained is that the estimated drop in demand destruction due to the coronavirus crisis is 20 million barrels per day, prompting many experts to say a supply response has limited ability to balance the market. (more...)
US oil prices hit 21-year lows as demand disappears
- April 20, 2020
Floating storage in tankers is also estimated at a record 160 million barrels. In the most basic of terms, contango occurs when futures prices trade higher than the spot prices of the underlying commodity. But months of sluggish demand have left hundreds of millions of barrels in storage around the world, further depressing prices. The oil price collapse is sending shockwaves throughout the entire industry, with oil majors slashing spending across the board, and explorers cutting as much ... (more...)
- April 20, 2020
Floating storage in tankers is also estimated at a record 160 million barrels. In the most basic of terms, contango occurs when futures prices trade higher than the spot prices of the underlying commodity. But months of sluggish demand have left hundreds of millions of barrels in storage around the world, further depressing prices. The oil price collapse is sending shockwaves throughout the entire industry, with oil majors slashing spending across the board, and explorers cutting as much ... (more...)
Switzerland's Roche joins race to make coronavirus antibody tests
- April 20, 2020
John Newton, National Coordinator of the UK Coronavirus testing programme, warned against purchasing unapproved tests online for personal use, or in bulk for firms to test employees. While it is not yet known for sure if those who have been infected develop immunity to the new virus as with many other illnesses, accurate antibody tests are seen as essential to help nations craft strategies to end business and travel shutdowns that have battered economies around the globe. (more...)
- April 20, 2020
John Newton, National Coordinator of the UK Coronavirus testing programme, warned against purchasing unapproved tests online for personal use, or in bulk for firms to test employees. While it is not yet known for sure if those who have been infected develop immunity to the new virus as with many other illnesses, accurate antibody tests are seen as essential to help nations craft strategies to end business and travel shutdowns that have battered economies around the globe. (more...)
Australia will make Facebook and Google pay for news content
- April 20, 2020
Australia will force Facebook Inc and Alphabet Inc's Google to share advertising revenue with local media firms, the country's treasurer said on Monday, becoming one of the first countries to require digital platforms to pay for content they use. (more...)
- April 20, 2020
Australia will force Facebook Inc and Alphabet Inc's Google to share advertising revenue with local media firms, the country's treasurer said on Monday, becoming one of the first countries to require digital platforms to pay for content they use. (more...)
Stocks in Toronto and United States plunge at the start of trading
- April 20, 2020
The TSX posted no new 52-week highs and 127 new lows. The Canadian dollar touched its weakest intraday level since January 2016 at 1.4650 per USA dollar. The April crude contract was down 13 cents at US$28.57 per barrel and the April natural gas contract was down 0.6 of cent at US$1.809 per mmBTU. "We have to look at it as a war, because it is a war, Saudi Arabia and Russian Federation have declared a war, and it's going to be about survival". (more...)
- April 20, 2020
The TSX posted no new 52-week highs and 127 new lows. The Canadian dollar touched its weakest intraday level since January 2016 at 1.4650 per USA dollar. The April crude contract was down 13 cents at US$28.57 per barrel and the April natural gas contract was down 0.6 of cent at US$1.809 per mmBTU. "We have to look at it as a war, because it is a war, Saudi Arabia and Russian Federation have declared a war, and it's going to be about survival". (more...)
Jeff Bezos calls for regular COVID-19 testing across industries - including Amazon
- April 19, 2020
He said Amazon will soon test "a small number, quot; of employees". To help its employees during the crisis, Amazon also increased pay for hourly employees by $2 per hour in the U.S., Canadian dollar 2 per hour in Canada, and 2 euros per hour in many European Union countries. (more...)
- April 19, 2020
He said Amazon will soon test "a small number, quot; of employees". To help its employees during the crisis, Amazon also increased pay for hourly employees by $2 per hour in the U.S., Canadian dollar 2 per hour in Canada, and 2 euros per hour in many European Union countries. (more...)
Macron voices scepticism over China's handling of coronavirus outbreak
- April 19, 2020
There are clearly things that have happened that we don't know about", he added. On Friday, China reported an extra 1,290 deaths in the city of Wuhan, where the coronavirus pandemic started in December. The EU's economic approach during the crisis will determine whether it is "a political project or a market project only", Macron said. He added that the richer European Union members need to do more to pay for economic rebuilding if the bloc is to survive. (more...)
- April 19, 2020
There are clearly things that have happened that we don't know about", he added. On Friday, China reported an extra 1,290 deaths in the city of Wuhan, where the coronavirus pandemic started in December. The EU's economic approach during the crisis will determine whether it is "a political project or a market project only", Macron said. He added that the richer European Union members need to do more to pay for economic rebuilding if the bloc is to survive. (more...)
Virus hands China its first economic contraction in decades
- April 19, 2020
The shrinking was more than expected, and the first decline since at least 1992 when official quarterly GDP records started. For 2020, China's financial development is ready to stumble to its slowest annual tempo in nearly half a century, a Reuters ballot confirmed this week. (more...)
- April 19, 2020
The shrinking was more than expected, and the first decline since at least 1992 when official quarterly GDP records started. For 2020, China's financial development is ready to stumble to its slowest annual tempo in nearly half a century, a Reuters ballot confirmed this week. (more...)
Florida Schools To Remain Closed The Rest Of The School Year
- April 19, 2020
Those headed out to enjoy the sun and sand may only do so in groups of ten or less. Since that time, students have continued classes through remote learning platforms. "If a person tests positive, [Broward] County Health Department is partnering with federally qualified health centers for follow-up telehealth", said DeSantis. (more...)
- April 19, 2020
Those headed out to enjoy the sun and sand may only do so in groups of ten or less. Since that time, students have continued classes through remote learning platforms. "If a person tests positive, [Broward] County Health Department is partnering with federally qualified health centers for follow-up telehealth", said DeSantis. (more...)
Crude Oil Futures Tumble To Close At Over 18-year Low
- April 19, 2020
The International Energy Agency ( IEA ) said this week that global oil demand will fall by the highest amount ever in 2020 due to the economic lockdowns and inactivity forced by international measures to contain the CCP (Chinese Communist Party) virus , commonly known as the novel coronavirus. (more...)
- April 19, 2020
The International Energy Agency ( IEA ) said this week that global oil demand will fall by the highest amount ever in 2020 due to the economic lockdowns and inactivity forced by international measures to contain the CCP (Chinese Communist Party) virus , commonly known as the novel coronavirus. (more...)
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