Economy

USA oil benchmark WTI crashes below zero

USA oil benchmark WTI crashes below zero

The cost to have a barrel of US crude delivered in May was at negative $7.40 per barrel Tuesday, after plunging to negative $37.63. The losses came despite signs that the virus, which has infected n...

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United States stock market dips as America's oil prices tumble into negative

United States stock market dips as America's oil prices tumble into negative

The S&P500 dropped 1.8% and the Nasdaq pulled back 1%. In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of ...

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ABN Amro latest to make claim against Hin Leong

ABN Amro latest to make claim against Hin Leong

The son, also known as Evan Lim, said he was unaware of the reason for losses suffered over some years and his father had instructed Hin Leong's finance department to omit them from its financial st...

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Amazon deploys thermal cameras at warehouses to measure temperature

Amazon deploys thermal cameras at warehouses to measure temperature

The company performs a second, forehead thermometer check on anyone flagged by the cameras to determine an exact temperature, one of the workers said. How extensively Amazon will certainly deploy the ...

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US Oil Prices Drop Below Zero as Global Lockdown Persists

US Oil Prices Drop Below Zero as Global Lockdown Persists

The price turned negative for the first time in history . The price of oil is plunging because there's very little demand for it, and oil companies are running out of places to store it. The hub h...

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Saudi Aramco says to supply 8.5mln bpd from May

Saudi Aramco says to supply 8.5mln bpd from May

The US imported 401,000 barrels a day of crude from Saudi Arabia in January, according to the latest monthly data available from the U.S. Energy Information Administration. It's not possible to do tha...

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High River meat-packing plant temporarily stopping production

High River meat-packing plant temporarily stopping production

She added the plant, which employs about 2,000 people and provides almost 40 per cent of the processed beef in western Canada, was doing its due diligence and that "all appropriate measures are being ...

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Coronavirus: Richard Branson warns of Virgin Atlantic collapse without government loan

Coronavirus: Richard Branson warns of Virgin Atlantic collapse without government loan

Sir Richard Branson has written an open letter to Virgin Group staff in which he warns that Virgin Atlantic will need government support in order to make it through the current coronavirus crisis....

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China reports 16 new Covid-19 cases, lowest since March 17

China reports 16 new Covid-19 cases, lowest since March 17

Most of the cases were related to one imported case in the provincial capital Harbin. China's meals trade has been hit by the pandemic that began within the central metropolis of Wuhan late final ye...

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Coronavirus relief deal for U.S. small businesses may come Monday: Donald Trump

Coronavirus relief deal for U.S. small businesses may come Monday: Donald Trump

Meanwhile, Rep. Dean Phillips, a Minnesota Democrat, tweeted Sunday that the White House's "refusal to support states and localities must be overcome". A $2trn economic bailout and stimulus law pass...

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Governors Want More Tests Before Reopening

Governors Want More Tests Before Reopening

The mounting pressure was evident in the United States. Charlie Latham, mayor of Jacksonville Beach, said the beach there was reopened with limited hours, and it went well with no arrests for peop...

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WTI Crude futures for May delivery plummets 40.18% to $10.93/barrel

WTI Crude futures for May delivery plummets 40.18% to $10.93/barrel

The broader global index, known as Brent crude , fell more than 2 percent to under $27 a barrel. He argues that the lack of available storage capacity and the absence of necessary transport infrastru...

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Oil climbs on output slash to aid virus-hit market

Oil climbs on output slash to aid virus-hit market

Here's how multiple experts reacted to the latest developments. Now the demand is down about 35 percent because of the coronavirus. The Reuters news agency quoted OPEC+ sources as saying they expe...

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USA oil price falls below zero for the first time

USA oil price falls below zero for the first time

In Asia, bankers are increasingly reluctant to give commodity traders the credit to survive as lenders grow ever more fearful about the risk of a catastrophic default. However, the decision has done l...

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Global Oil Prices Continue Downward Slide

Global Oil Prices Continue Downward Slide

United States crude benchmark West Texas Intermediate briefly plunged nearly 20 percent to below $15 - its lowest since 1999 - as stockpiles continue to build owing to a crash in demand caused by the ...

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After Apple, Google reportedly planning to launch its own card

However, it must be noted that the Apple Card is a credit card. The card is co-branded with its bank partners CITI and Standard Federal Credit Union. The card, which you can see below, would be a ch...

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Sunak extends furlough for another month #68138

Sunak extends furlough for another month #68138

UK Chancellor Rishi Sunak on Friday announced an extension to the government's Coronavirus Job Retention Scheme by a month until June following a further three-week extension to the COVID-19 lockd...

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Govt wants to force Google, Facebook to pay for news content

Govt wants to force Google, Facebook to pay for news content

The federal government in December told the digital giants to negotiate with publishers on the use of their content or face further regulation. "The groundbreaking report prepared by the ACCC into...

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United Kingdom banks dole out £1.1 billion in Coronavirus loans to SMEs

United Kingdom banks dole out £1.1 billion in Coronavirus loans to SMEs

Loans to all medium-to-large firms will now be included in the government's £330bn coronavirus support package for the economy, the Treasury has said. Other government initiatives meant to help busi...

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You Could Get $2,000 Per Month Check Under This Proposed Bill

You Could Get $2,000 Per Month Check Under This Proposed Bill

As millions of Americans file for unemployment week over week, we have to work quickly to patch the dam - and that means putting cash in the hands of hard-working families", Ryan said in the release. ...

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Indian TVS has just acquired Norton Motorcycles

Indian TVS has just acquired Norton Motorcycles

In India, it grew nearly seven-fold from 120,964 units in FY13 to 833,082 units in FY19, before declining 18% in FY20 to 681,820 units on the economic slowdown felt across the industry. "Norton is exp...

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Coronavirus: Canadians stocks hit a 1-year low, down 9.9%

Coronavirus: Canadians stocks hit a 1-year low, down 9.9%

It partially recovered in early afternoon trading to be off 8.1 per cent or 1,111.14 points at 12,605.19. In the US, the Dow Jones Industrial Average closed down 2,999 points, or 12.9 per cent, afte...

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Americans in hundreds protest against virus rules amid spreading resentment

Americans in hundreds protest against virus rules amid spreading resentment

Trump also lashed out at early attempts by Chinese officials who said the virus originated in a USA military base. "They know that. The governors know that". Washington Governor Jay Inslee , a Demo...

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China's economy shrinks 6.8%

China's economy shrinks 6.8%

He said, as cited by CNBC, that China is facing tremendous pressure amid increasing uncertainties and instabilities from the coronavirus outbreak. Many different individual areas of the economy, l...

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COVID-19: Remdesivir effective in monkeys

COVID-19: Remdesivir effective in monkeys

While clinical trials of the drug are happening in the USA, results from late-stage tests happening in China are expected first, possibly as early as this month. Dr. Angela Hewlett, the medical dire...

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Some TTC bus drivers refuse shifts over safety concerns

An Amalgamated Transit Union official claimed Wednesday that the TTC has a stockpile of at least 200,000 masks. To date, 17 TTC workers have tested positive for COVID-19. Mayor John Tory said he's...

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Florida schools to remain closed for the rest of the year

Florida schools to remain closed for the rest of the year

Florida's public schools will remain closed and stay online through the end of the 2019-2020 school year. Florida was one of the last states to implement a stay-at-home order. DeSantis said he belie...

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China says no plans to limit export of anti-virus supplies

China says no plans to limit export of anti-virus supplies

Industrial output shrank 1.1 per cent in March, reflecting lingering damage from factory shutdowns even as travel restrictions in the country were progressively eased and businesses stirred back to li...

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Oil tumbles to 18-year low as coronavirus dings China GDP

Oil tumbles to 18-year low as coronavirus dings China GDP

Oil has plunged about 20% in NY since the group on Sunday agreed to trim worldwide production by an unprecedented 9.7 million barrels a day, as lockdowns aimed at containing the coronavirus cause the...

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Nations Seek IMF Virus Impact Help, Only 10 Have Received It

Nations Seek IMF Virus Impact Help, Only 10 Have Received It

Georgieva's comments were made during a speech on Thursday, part of the International Monetary Fund and World Bank's spring meetings, which conclude on Friday. And the US Federal Reserve and other...

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Oil prices slip as output cuts fail to banish fears over demand

Oil prices slip as output cuts fail to banish fears over demand

Oil output cuts by OPEC and its allies, together with pledges from other G20 nations and purchases by strategic reserves, could remove 19.5 million barrels per day from the market, the Saudi energy ...

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China, G20 agree debt relief to Nigeria, others

China, G20 agree debt relief to Nigeria, others

G20 finance ministers have endorsed a plan to counter the Covid-19 pandemic, including the suspension of debt service payments for the world's poorest countries till end of 2020. The countries will b...

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The Chinese economy collapsed for the first time in 28 years

The Chinese economy collapsed for the first time in 28 years

China's economy contracted by 6.8% in the first three months of 2020 from the same period a year ago - its biggest drop in almost three decades, as the country's factory output and domestic spendin...

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Criminal negligence investigation begins into the operators of Ruby Princess

Criminal negligence investigation begins into the operators of Ruby Princess

Incredible footage of staff and passengers aboard the Ruby Princess having a party after coronavirus concerns emerged on board the cruise ship has been given to New South Wales homicide detect...

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COVID-19: America faces unemployment crisis with 22 million out of work

COVID-19: America faces unemployment crisis with 22 million out of work

Scottsbluff had the highest March unemployment rate at 4.9% followed by Grand Island and Beatrice with 4.7% each. According to the data released by the Nebraska Department of Labor, Lincoln's unem...

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