Markets
Oil Price Forecast: WTI extends Wednesday's double digit rally, trades above $16
- April 30, 2020
The more active July contract added 94 cents, or 4.1 per cent, to $23.68. West Texas Intermediate (WTI) crude futures climbed to a high of $16.25 a barrel and were up 7.2%, or $1.08, at $16.14 at 0147 GMT. In another sign of the supply response, Russian Energy Minister Alexander Novak told the Interfax news agency that the nation's oil companies will cut production by about 19% from February levels. (more...)
- April 30, 2020
The more active July contract added 94 cents, or 4.1 per cent, to $23.68. West Texas Intermediate (WTI) crude futures climbed to a high of $16.25 a barrel and were up 7.2%, or $1.08, at $16.14 at 0147 GMT. In another sign of the supply response, Russian Energy Minister Alexander Novak told the Interfax news agency that the nation's oil companies will cut production by about 19% from February levels. (more...)
`Very serious investigations` against China over coronavirus, says Trump
- April 30, 2020
Last week, U.S. Secretary of State Mike Pompeo said the United States "strongly believed" Beijing failed to report the outbreak in a timely manner and covered up how unsafe the respiratory illness caused by the virus was. "And then why did China allow planes to fly out but not into China", he said. Since reaching the U.S. in January, the virus has infected more than 1 million Americans and claimed the lives of more than 58,000. (more...)
- April 30, 2020
Last week, U.S. Secretary of State Mike Pompeo said the United States "strongly believed" Beijing failed to report the outbreak in a timely manner and covered up how unsafe the respiratory illness caused by the virus was. "And then why did China allow planes to fly out but not into China", he said. Since reaching the U.S. in January, the virus has infected more than 1 million Americans and claimed the lives of more than 58,000. (more...)
Tupac Shakur: Kentucky governor apologises over benefits error
- April 30, 2020
Based on the state's COVID-19 fatality rate, the restrictions saved about 2,000 lives so far, according to the study from the Institute for the Study of Free Enterprise at the University of Kentucky . "I told him how it happened". Beshear announced 184 new cases of COVID-19 Wednesday for a total of 4,539 and 10 new deaths bringing the death toll to 235. (more...)
- April 30, 2020
Based on the state's COVID-19 fatality rate, the restrictions saved about 2,000 lives so far, according to the study from the Institute for the Study of Free Enterprise at the University of Kentucky . "I told him how it happened". Beshear announced 184 new cases of COVID-19 Wednesday for a total of 4,539 and 10 new deaths bringing the death toll to 235. (more...)
Phase 1 of Florida Reopening Plan Starts May 4
- April 30, 2020
During an afternoon press conference - as the state's stay-at-home order expires Thursday - DeSantis said the order would exclude Miami-Dade, Broward and Palm Beach counties. Florida is one of many states that have announced a phased reopening and the relaxation of coronavirus mitigation guidelines. He said his state's testing rate was now similar to California and the positivity rate had been on the decline for a while. (more...)
- April 30, 2020
During an afternoon press conference - as the state's stay-at-home order expires Thursday - DeSantis said the order would exclude Miami-Dade, Broward and Palm Beach counties. Florida is one of many states that have announced a phased reopening and the relaxation of coronavirus mitigation guidelines. He said his state's testing rate was now similar to California and the positivity rate had been on the decline for a while. (more...)
US Equities: Earnings Move to Forefront Ahead of Fed Decisions
- April 30, 2020
The broad-based S&P 500 also rose 1.5 per cent to 2,878.48, while the tech-rich Nasdaq Composite Index advanced 1.1 per cent to finish at 8,730.16. But stocks have been rallying over the last month as investors look beyond the current economic devastation toward the prospect of economies gradually reopening. (more...)
- April 30, 2020
The broad-based S&P 500 also rose 1.5 per cent to 2,878.48, while the tech-rich Nasdaq Composite Index advanced 1.1 per cent to finish at 8,730.16. But stocks have been rallying over the last month as investors look beyond the current economic devastation toward the prospect of economies gradually reopening. (more...)
Oil prices claw back losses as storage fills less rapidly than feared
- April 30, 2020
Oil prices rebounded on Wednesday, after reports that a key measure of oil inventories showed lower than expected demand for storage and oil-focused exchange traded-funds appear to have finished selling June futures contracts. WTI for June delivery climbed US$3.69 to US$16.03 a barrel at 11:49 a.m.in NY. Refinery crude runs rose by 305,000 barrels per day, boosting refinery utilization rates by 2 percentage points to 69.6% of total capacity. (more...)
- April 30, 2020
Oil prices rebounded on Wednesday, after reports that a key measure of oil inventories showed lower than expected demand for storage and oil-focused exchange traded-funds appear to have finished selling June futures contracts. WTI for June delivery climbed US$3.69 to US$16.03 a barrel at 11:49 a.m.in NY. Refinery crude runs rose by 305,000 barrels per day, boosting refinery utilization rates by 2 percentage points to 69.6% of total capacity. (more...)
Markets seen choppy; Asian shares cautious ahead of Fed meeting
- April 29, 2020
Sentiment was boosted Wednesday by news from Gilead Sciences that a clinical trial evaluating its drug remdesivir in coronavirus patients had concluded with a positive result. Boeing and General Electric will both report earnings on Wednesday. Tesla ( NASDAQ: TSLA ), Facebook ( NASDAQ: FB ), Microsoft ( NASDAQ: MSFT ), Qualcomm ( NASDAQ: QCOM ) and eBay ( NASDAQ: EBAY ) will announce after the market close. (more...)
- April 29, 2020
Sentiment was boosted Wednesday by news from Gilead Sciences that a clinical trial evaluating its drug remdesivir in coronavirus patients had concluded with a positive result. Boeing and General Electric will both report earnings on Wednesday. Tesla ( NASDAQ: TSLA ), Facebook ( NASDAQ: FB ), Microsoft ( NASDAQ: MSFT ), Qualcomm ( NASDAQ: QCOM ) and eBay ( NASDAQ: EBAY ) will announce after the market close. (more...)
Boeing whacked by coronavirus, 737 MAX grounding
- April 29, 2020
Speaking at the company's annual meeting, Calhoun offered a sober outlook on the near-term prospects for commercial air travel in the wake of a virus that is projected to cost the industry hundreds of billions of dollars in 2020 revenues. Boeing said each of the company's 12 board nominees received a majority of votes from shareholders, though five directors got a significant number of no votes. (more...)
- April 29, 2020
Speaking at the company's annual meeting, Calhoun offered a sober outlook on the near-term prospects for commercial air travel in the wake of a virus that is projected to cost the industry hundreds of billions of dollars in 2020 revenues. Boeing said each of the company's 12 board nominees received a majority of votes from shareholders, though five directors got a significant number of no votes. (more...)
US House Speaker Pelosi endorses Democratic presidential candidate Biden
- April 29, 2020
Joe Biden later retweeted Pelosi's message. "As we face coronavirus Joe Biden has been a voice of reason and resilience with a clear path to lead us out of this crisis", she said. Pelosi's endorsement of the Democratic presidential candidate follows that of U.S. Senators Elizabeth Warren and Bernie Sanders , former President Barack Obama and former Vice President Al Gore, who all threw their weight behind Biden earlier this month. (more...)
- April 29, 2020
Joe Biden later retweeted Pelosi's message. "As we face coronavirus Joe Biden has been a voice of reason and resilience with a clear path to lead us out of this crisis", she said. Pelosi's endorsement of the Democratic presidential candidate follows that of U.S. Senators Elizabeth Warren and Bernie Sanders , former President Barack Obama and former Vice President Al Gore, who all threw their weight behind Biden earlier this month. (more...)
British Airways planning 12,000 redundancies
- April 29, 2020
The airline's chief executive, Alex Cruz, told BA's 42,000 staff on Tuesday night that the company "must act decisively now to ensure that British Airways has a strong future" and that more than one in four jobs must be cut. 'Balpa does not accept a case has been made for these job losses and we will be fighting to save every single one'. IAG, which also owns two Spanish carriers, flagship Iberia Airlines and the budget Vueling Airlines, saw its shares lose 2.2 per cent as preliminary ... (more...)
- April 29, 2020
The airline's chief executive, Alex Cruz, told BA's 42,000 staff on Tuesday night that the company "must act decisively now to ensure that British Airways has a strong future" and that more than one in four jobs must be cut. 'Balpa does not accept a case has been made for these job losses and we will be fighting to save every single one'. IAG, which also owns two Spanish carriers, flagship Iberia Airlines and the budget Vueling Airlines, saw its shares lose 2.2 per cent as preliminary ... (more...)
Why Trump is keeping meat processing plants open
- April 29, 2020
And Kim Cordova, president of UFCW Local 7, which represents 3,000 workers at the JBS meat processing plant in Greeley, Colorado, said the order "will only ensure that more workers get sick, jeopardizing lives, family's income, communities, and of course, the country's food supply chain". (more...)
- April 29, 2020
And Kim Cordova, president of UFCW Local 7, which represents 3,000 workers at the JBS meat processing plant in Greeley, Colorado, said the order "will only ensure that more workers get sick, jeopardizing lives, family's income, communities, and of course, the country's food supply chain". (more...)
Coronavirus: Trump orders meatpacking plants to stay open
- April 29, 2020
The UN last month warned the emergency threatened global food supply chains. "There will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are now closed". Department of Agriculture data. "It may take a while to manifest at the grocery store, but make no mistake - when you see processing capacity drop by 20 to 30 percent, it will ultimately have an impact", the chief economist at the American Farm Bureau Federation, John Newton told ... (more...)
- April 29, 2020
The UN last month warned the emergency threatened global food supply chains. "There will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are now closed". Department of Agriculture data. "It may take a while to manifest at the grocery store, but make no mistake - when you see processing capacity drop by 20 to 30 percent, it will ultimately have an impact", the chief economist at the American Farm Bureau Federation, John Newton told ... (more...)
Trump to sign order keeping meat processing plants open
- April 29, 2020
Others have slowed production. The chairman of Tyson Foods has issued a stark warning to Americans following the shuttering of the plants across the country: " The food supply chain is breaking ". "We're working with Tyson, which is one of the big companies in the world". The executive order will also minimize the liability that companies face if workers contract COVID-19 when they are required to come into work. (more...)
- April 29, 2020
Others have slowed production. The chairman of Tyson Foods has issued a stark warning to Americans following the shuttering of the plants across the country: " The food supply chain is breaking ". "We're working with Tyson, which is one of the big companies in the world". The executive order will also minimize the liability that companies face if workers contract COVID-19 when they are required to come into work. (more...)
No dates given for Ontario's framework to gradually reopen the economy
- April 29, 2020
Even in this phase, however, "large gatherings such as concerts and sporting events will continue to be restricted for the foreseeable future". There will be a new normal in Ontario, Ford said. The world has now seen more than three million cases of COVID caused by the new coronavirus , with around 215,000 related deaths. Of the 957 COVID-19 patients hospitalized, 239 were in intensive care and 187 were on ventilators. (more...)
- April 29, 2020
Even in this phase, however, "large gatherings such as concerts and sporting events will continue to be restricted for the foreseeable future". There will be a new normal in Ontario, Ford said. The world has now seen more than three million cases of COVID caused by the new coronavirus , with around 215,000 related deaths. Of the 957 COVID-19 patients hospitalized, 239 were in intensive care and 187 were on ventilators. (more...)
Alphabet reports strong Q1 revenue, March ad slowdown
- April 29, 2020
Alphabet has diversified into cloud services and consumer hardware, but advertising still accounts for the vast majority of revenue . "As the impact of COVID-19 came into view, we delayed some ad launches and prioritized supporting our customers as many adjusted their strategies". (more...)
- April 29, 2020
Alphabet has diversified into cloud services and consumer hardware, but advertising still accounts for the vast majority of revenue . "As the impact of COVID-19 came into view, we delayed some ad launches and prioritized supporting our customers as many adjusted their strategies". (more...)
IRS enhances Get My Payment online application to help taxpayers
- April 29, 2020
Mnuchin in a statement on Sunday evening. As of Friday, the IRS had sent out almost $158 billion in stimulus payments to 88 million people in the U.S. Under the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, or Cares Act, passed last month , the Treasury will eventually send out 150 million stimulus payments to eligible Americans. (more...)
- April 29, 2020
Mnuchin in a statement on Sunday evening. As of Friday, the IRS had sent out almost $158 billion in stimulus payments to 88 million people in the U.S. Under the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, or Cares Act, passed last month , the Treasury will eventually send out 150 million stimulus payments to eligible Americans. (more...)
Over 4 million UK jobs furloughed under government scheme
- April 29, 2020
He told MPs: 'I know that some small businesses are still struggling to access credit . Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic. (more...)
- April 29, 2020
He told MPs: 'I know that some small businesses are still struggling to access credit . Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic. (more...)
Trump Plans To Beef Up Meat Production After Coronavirus Hits Plants
- April 29, 2020
Earlier this week, Tyson Foods - one of the country's largest meat producers - warned "the food supply chain is breaking" amid the coronavirus crisis . "Tyson Foods is also paying approximately $60 million in "thank you" bonuses to 116,000 front-line workers and Tyson truckers who support our operations every day", Tyson said. (more...)
- April 29, 2020
Earlier this week, Tyson Foods - one of the country's largest meat producers - warned "the food supply chain is breaking" amid the coronavirus crisis . "Tyson Foods is also paying approximately $60 million in "thank you" bonuses to 116,000 front-line workers and Tyson truckers who support our operations every day", Tyson said. (more...)
Trump to Order US Meat Plants to Stay Open Amid Pandemic
- April 29, 2020
President Trump said Tuesday that he plans to order meat processing plants to stay open under the Defense Production Act during the coronavirus pandemic. chicken is arranged for a photograph in Tiskilwa, Illinois, U.S., on Thursday, May 5, 2016. JBS, one of the largest meat processing companies in the world, closed several of its US facilities in response to COVID-19 outbreaks, the latest of which temporarily suspended operations just this Sunday. (more...)
- April 29, 2020
President Trump said Tuesday that he plans to order meat processing plants to stay open under the Defense Production Act during the coronavirus pandemic. chicken is arranged for a photograph in Tiskilwa, Illinois, U.S., on Thursday, May 5, 2016. JBS, one of the largest meat processing companies in the world, closed several of its US facilities in response to COVID-19 outbreaks, the latest of which temporarily suspended operations just this Sunday. (more...)
Tyson Foods Processing Plants Continue To Close
- April 28, 2020
Tyson Foods Board Chairman, John Tyson , took out a full-page ad in The New York Times on Sunday warning the country that a meat shortage is coming to grocery stores nationwide, as "the food supply chain is breaking" amid the COVID-19 pandemic. (more...)
- April 28, 2020
Tyson Foods Board Chairman, John Tyson , took out a full-page ad in The New York Times on Sunday warning the country that a meat shortage is coming to grocery stores nationwide, as "the food supply chain is breaking" amid the COVID-19 pandemic. (more...)
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