Markets
Oil Prices Drop Over Fears of Second Coronavirus Wave
- May 11, 2020
Oil's slow start follows a bullish week when prices gained as much as 25 per cent by the final session. Fuel consumption in India declined 46 percent in April as all petroleum products, except LPG, saw massive demand erosion following the nationwide lockdown that paused economic activity and travel. (more...)
- May 11, 2020
Oil's slow start follows a bullish week when prices gained as much as 25 per cent by the final session. Fuel consumption in India declined 46 percent in April as all petroleum products, except LPG, saw massive demand erosion following the nationwide lockdown that paused economic activity and travel. (more...)
Boris Johnson to give more detail on lockdown changes
- May 11, 2020
The British PM has laid out a five-level alert system that the government will use scientific data to monitor and track the rate of spread of the virus, this will be referred has "R" rate. Scottish First Minister Nicola Sturgeon said on Twitter she would continue to tell Scots to stay at home. He also expressed hope that segments of the hospitality industry and more public places could reopen a month later. (more...)
- May 11, 2020
The British PM has laid out a five-level alert system that the government will use scientific data to monitor and track the rate of spread of the virus, this will be referred has "R" rate. Scottish First Minister Nicola Sturgeon said on Twitter she would continue to tell Scots to stay at home. He also expressed hope that segments of the hospitality industry and more public places could reopen a month later. (more...)
Saudi Arabia triples value-added tax to counter COVID-19 losses
- May 11, 2020
But the savings from the austerity measures are unlikely to plug the kingdom's huge budget deficit, which the Saudi Jadwa Investment group said would rise to a record $112 billion this year. Like other GCC countries, the kingdom has taken stringent measures to curb the outbreak, including the shutting down of cinemas and restaurants, suspension of flights and the Muslim Umrah pilgrimage. (more...)
- May 11, 2020
But the savings from the austerity measures are unlikely to plug the kingdom's huge budget deficit, which the Saudi Jadwa Investment group said would rise to a record $112 billion this year. Like other GCC countries, the kingdom has taken stringent measures to curb the outbreak, including the shutting down of cinemas and restaurants, suspension of flights and the Muslim Umrah pilgrimage. (more...)
Musk threatens to pull Tesla from California amid lockdown dispute
- May 11, 2020
On Saturday, Elon Musk , Tesla chief threatened to pull his electric vehicle headquarters and plant out of California after local authorities kept him from reopening production due to the highly contagious and transmissible coronavirus pandemic. (more...)
- May 11, 2020
On Saturday, Elon Musk , Tesla chief threatened to pull his electric vehicle headquarters and plant out of California after local authorities kept him from reopening production due to the highly contagious and transmissible coronavirus pandemic. (more...)
Oil rises on China export bounce but long-term outlook remains weak
- May 11, 2020
UBS said its end-of-quarter price forecasts for Brent are $32 per barrel for 3Q20 and $43, $50 and $55 a barrel for the following three quarters. US crude oil stockpiles were seen rising for a 15th consecutive week, while inventories of oil products also likely built last week, a preliminary Reuters poll showed. (more...)
- May 11, 2020
UBS said its end-of-quarter price forecasts for Brent are $32 per barrel for 3Q20 and $43, $50 and $55 a barrel for the following three quarters. US crude oil stockpiles were seen rising for a 15th consecutive week, while inventories of oil products also likely built last week, a preliminary Reuters poll showed. (more...)
Glaxo offloads stake worth $3.4 bn in HUL
- May 11, 2020
Shares in GSK were flat at 1,702p on Thursday in early trades. GlaxoSmithKline said on Thursday it sold its stake in Hindustan Unilever 's Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India. (more...)
- May 11, 2020
Shares in GSK were flat at 1,702p on Thursday in early trades. GlaxoSmithKline said on Thursday it sold its stake in Hindustan Unilever 's Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India. (more...)
United Kingdom wants to 'slowly and cautiously' ease lockdown to restart economy - minister
- May 11, 2020
His critics have complained that Johnson was distracted in the early stages of the pandemic and slow to order a lockdown and that he was not treating Britons like adults. Johnson is expected to say people will now be allowed to leave their homes to exercise a couple of times a day and that garden centres - selling plants, seeds and garden equipment - can reopen. (more...)
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- May 11, 2020
His critics have complained that Johnson was distracted in the early stages of the pandemic and slow to order a lockdown and that he was not treating Britons like adults. Johnson is expected to say people will now be allowed to leave their homes to exercise a couple of times a day and that garden centres - selling plants, seeds and garden equipment - can reopen. (more...)
White House considers more coronavirus stimulus, with conditions
- May 11, 2020
He told reporters Thursday that he would be tested for the coronavirus daily. Mr Trump said some staffers who interacted with him closely would now be tested daily. Trump received his first test in March and a second in April - both were negative. "The Secret Service continues to follow guidance issued by the CDC to ensure the health and welfare of our employees and those they come in contact with", Whelan stated. (more...)
- May 11, 2020
He told reporters Thursday that he would be tested for the coronavirus daily. Mr Trump said some staffers who interacted with him closely would now be tested daily. Trump received his first test in March and a second in April - both were negative. "The Secret Service continues to follow guidance issued by the CDC to ensure the health and welfare of our employees and those they come in contact with", Whelan stated. (more...)
Tesla Announces Reopening of Plant in California, Files Lawsuit Against Local Authorities
- May 10, 2020
Musk on Saturday announced that Tesla was filing a lawsuit against Alameda County, where the facility is located, immediately. Frankly, if this is the real Elon Musk , the world's 5th largest economy is probably better rid of him. "The team at Tesla has been responsive to our guidance and recommendations, and we look forward to coming to an agreement on an appropriate safety plan very soon". (more...)
- May 10, 2020
Musk on Saturday announced that Tesla was filing a lawsuit against Alameda County, where the facility is located, immediately. Frankly, if this is the real Elon Musk , the world's 5th largest economy is probably better rid of him. "The team at Tesla has been responsive to our guidance and recommendations, and we look forward to coming to an agreement on an appropriate safety plan very soon". (more...)
Magnolia Earl Is Making History As Gerber’s First Adopted Spokesbaby
- May 10, 2020
Magnolia, who celebrates her first birthday on Saturday, makes history as the first adopted baby to win the Gerber contest. Baby Magnolia was described by her mother as "beyond happy and joyful". On top of being featured on Gerber's social media channels and in marketing campaigns, Magnolia and her family won $25,000 in cash, $1,000 from Gerber Childrenswear and Walmart, as well as free cell phones for a year. (more...)
- May 10, 2020
Magnolia, who celebrates her first birthday on Saturday, makes history as the first adopted baby to win the Gerber contest. Baby Magnolia was described by her mother as "beyond happy and joyful". On top of being featured on Gerber's social media channels and in marketing campaigns, Magnolia and her family won $25,000 in cash, $1,000 from Gerber Childrenswear and Walmart, as well as free cell phones for a year. (more...)
Kevin Hassett, White House economic adviser, expects 20% unemployment rate before recovery
- May 10, 2020
Hassett on CBS's "Face the Nation". The unemployment rate is at an all time high, worse than the Great Depression of the 1930s. The estimate was "not science as much as arithmetic", based on the large numbers of people filing initial unemployment claims at the moment, said Mr Hassett, a former chairman of the Council of Economic Advisers who returned to the White House to consult on virus-related matters. (more...)
- May 10, 2020
Hassett on CBS's "Face the Nation". The unemployment rate is at an all time high, worse than the Great Depression of the 1930s. The estimate was "not science as much as arithmetic", based on the large numbers of people filing initial unemployment claims at the moment, said Mr Hassett, a former chairman of the Council of Economic Advisers who returned to the White House to consult on virus-related matters. (more...)
Bankrupt hospitals sue feds for Paycheck Protection Program loans
- May 10, 2020
The report found that the 75 percent requirement, combined with the two-year loan term - neither mandated by Congress - could "result in an unintended burden to borrowers" given that many small businesses have higher operational expenses, such as rent, than headcount costs. (more...)
- May 10, 2020
The report found that the 75 percent requirement, combined with the two-year loan term - neither mandated by Congress - could "result in an unintended burden to borrowers" given that many small businesses have higher operational expenses, such as rent, than headcount costs. (more...)
Alphabet drops smart city plans for Toronto
- May 10, 2020
It's back to square one on Quayside development after news this morning that Google affiliate Sidewalk Labs is walking away from its " smart city " proposal on the waterfront. Chief executive Dan Doctoroff blamed "unprecedented economic uncertainty" for abandoning the plan. "There were a lot of good ideas that were brought forward and we hope Toronto continues to look at these sorts of things". (more...)
- May 10, 2020
It's back to square one on Quayside development after news this morning that Google affiliate Sidewalk Labs is walking away from its " smart city " proposal on the waterfront. Chief executive Dan Doctoroff blamed "unprecedented economic uncertainty" for abandoning the plan. "There were a lot of good ideas that were brought forward and we hope Toronto continues to look at these sorts of things". (more...)
Virgin Media and O2 confirm £31bn mega-merger
- May 10, 2020
The tie-up minimizes the risk that customers seeking a full range of communications services from a single provider would defect. The combined group will start with a great big chunk of the United Kingdom market, consisting of 46 million video, broadband and mobile subscribers, bringing in £11 billion in annual revenue, using today's figures. (more...)
- May 10, 2020
The tie-up minimizes the risk that customers seeking a full range of communications services from a single provider would defect. The combined group will start with a great big chunk of the United Kingdom market, consisting of 46 million video, broadband and mobile subscribers, bringing in £11 billion in annual revenue, using today's figures. (more...)
Postal Service reports whopping loss, warns of pandemic pain
- May 10, 2020
In a letter obtained exclusively by NBC News, Sen. Congress has authorized the Treasury Department to lend the Postal Service up to $10 billion as part of a $2.3 trillion coronavirus stimulus package. "If Congress is going to be asked to get the Postal Service out of yet another fiscal jam, we owe it to the American people to make sure we aren't just setting them up for yet another bailout the next time there's an emergency", he continued, citing reform initiatives. (more...)
- May 10, 2020
In a letter obtained exclusively by NBC News, Sen. Congress has authorized the Treasury Department to lend the Postal Service up to $10 billion as part of a $2.3 trillion coronavirus stimulus package. "If Congress is going to be asked to get the Postal Service out of yet another fiscal jam, we owe it to the American people to make sure we aren't just setting them up for yet another bailout the next time there's an emergency", he continued, citing reform initiatives. (more...)
Lyft jumps 17% on more riders in Q1 despite Coronavirus restrictions
- May 10, 2020
The growth of Uber Eats is not surprising, thanks to the surge in people placing orders online as restaurants are shut down on a large scale worldwide. Unlike Uber , which reports results Thursday, Lyft can not fall back on an array of other businesses to help offset declines in transportation. Huge bookings gains are good, big GAAP revenue gains are good, the adjusted net revenue gains are very good, and, for Uber , not losing more money as it scales - heavily adjusted losses for ... (more...)
- May 10, 2020
The growth of Uber Eats is not surprising, thanks to the surge in people placing orders online as restaurants are shut down on a large scale worldwide. Unlike Uber , which reports results Thursday, Lyft can not fall back on an array of other businesses to help offset declines in transportation. Huge bookings gains are good, big GAAP revenue gains are good, the adjusted net revenue gains are very good, and, for Uber , not losing more money as it scales - heavily adjusted losses for ... (more...)
Rolls-Royce signals job cuts as lower engine output forecast
- May 10, 2020
The company is also making £1bn of savings and warned that deliveries of new engines this year will nearly halve to 250, alongside lower demand for lucrative maintenance work. The company, which has already furloughed 4,000 of its employees, said it was working with its trade union and employee representatives and will update staff with details of the impact of the pandemic on the size of its workforce before the end of this month. (more...)
- May 10, 2020
The company is also making £1bn of savings and warned that deliveries of new engines this year will nearly halve to 250, alongside lower demand for lucrative maintenance work. The company, which has already furloughed 4,000 of its employees, said it was working with its trade union and employee representatives and will update staff with details of the impact of the pandemic on the size of its workforce before the end of this month. (more...)
Ouch! Watch latest Jeep Wrangler tip over during United States crash test…
- May 10, 2020
That isn't supposed to happen, landing the Wrangler some less-than-stellar ratings in the test . It previously received a one-star out of five rating from the Euro NCAP test . In the test that Fiat Chrysler submitted, the Wrangler did not tip over . As you can see, the Jeep starts on all four wheels, and then ends up on its passenger side at the end of the test. (more...)
- May 10, 2020
That isn't supposed to happen, landing the Wrangler some less-than-stellar ratings in the test . It previously received a one-star out of five rating from the Euro NCAP test . In the test that Fiat Chrysler submitted, the Wrangler did not tip over . As you can see, the Jeep starts on all four wheels, and then ends up on its passenger side at the end of the test. (more...)
U.S. first daughter Ivanka's assistant contracts coronavirus
- May 10, 2020
President Donald Trump has been questioned multiple times for his comments during his daily briefings on the coronavirus pandemic in the United States. When asked whether the most recent cases of COVID-19 should have prompted the president, who has thus far declined to wear protective face masks in public, to wear a face covering during his WWII commemoration meeting with nonagenarian and centenarian veterans, McEnany was noncommittal. (more...)
- May 10, 2020
President Donald Trump has been questioned multiple times for his comments during his daily briefings on the coronavirus pandemic in the United States. When asked whether the most recent cases of COVID-19 should have prompted the president, who has thus far declined to wear protective face masks in public, to wear a face covering during his WWII commemoration meeting with nonagenarian and centenarian veterans, McEnany was noncommittal. (more...)
Fauci, 2 other members of White House virus task force enter quarantine
- May 10, 2020
Hahn immediately took a diagnostic test for the coronavirus and the results were negative, FDA spokesman Michael Felberbaum said in an emailed statement. Miller, also the wife of one of President Donald Trump's senior advisers, tested positive on Friday, raising alarm about the virus' potential spread within the White House's innermost circle. (more...)
- May 10, 2020
Hahn immediately took a diagnostic test for the coronavirus and the results were negative, FDA spokesman Michael Felberbaum said in an emailed statement. Miller, also the wife of one of President Donald Trump's senior advisers, tested positive on Friday, raising alarm about the virus' potential spread within the White House's innermost circle. (more...)
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