Markets
Crude Oil Price Today: Brent Oil Drops To $31 Per Barrel
U.S. West Texas Intermediate ( WTI ) crude slipped 58 cents, or 2.7%, to settle at $21.75. Brent crude was up 69 cents, or 2.5 per cent, at $28.38 a barrel by 0102 GMT. The pact was also backed by the G20 nations, the U.S. - the world's largest producer - as well as other oil producers such as Canada and Brazil who are expected to contribute non-voluntary cuts. [Full Article...]
China suffers first GDP decline on record as coronavirus cripples economy
China's urban jobless rate was at 5.9 percent in March, down from 6.2 percent in February. Per capita disposable income, after adjusting for inflation, fell 3.9% from a year earlier in the first quarter, the data showed. Retail spending, which supplied 80% of China's economic growth last year, plunged 19% in the first quarter from a year earlier, below most forecasts. [Full Article...]
Dow Jones ends 1050 points up on expectations for huge U.S. stimulus
The Dow Jones Industrial Average fell 1,338.46 points, or 6.3 percent, to 19,898.92, the S&P 500 lost 131.09 points, or 5.18 percent, to 2,398.1, and the Nasdaq Composite dropped 344.94 points, or 4.7 percent, to 6,989.84. The S&P 500, which fell 12% on Monday, is still down roughly 25% from its February 19 record closing high, and many market-watchers see more volatility ahead. [Full Article...]
Trump issues guidelines for states to reopen from virus
It also includes criteria that must be met regarding numbers of infections and hospitalizations before areas can open up. Despite this, and amid apprehension in many quarters that re-opening the country too soon to jumpstart the economy on which his political fortunes hinge, President Trump rolled out a sketchy road map at the daily White House briefing while leaving the final call and granular ... [Full Article...]
Chancellor extends furlough scheme to end of June
The Coronavirus Job Retention Scheme represents the centrepiece of Sunak's plan to shield the world's fifth-biggest economy from the full force of the crisis. Dame Carolyn Fairbairn, CBI Director-General, said: "The Chancellor's welcome extension of the Job Retention Scheme beyond the end of May will help protect the economy and prevent unnecessary job losses through this new lockdown phase". [Full Article...]
Wall Street rises on hopes of lockdown easing, jobless claims
Some U.S. states on Friday were expected to announce timetables for lifting restrictions, a day after President Donald Trump outlined guidelines for a phased reopening of the devastated U.S. Shares of Boeing Co. surged 8.8% in afterhours trading after saying it will resume commercial plane production at a plant near Seattle next week. Some optimistic investors are focusing on the massive aid... [Full Article...]
Ottawa planning rent relief program for smaller businesses
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Non-essential travel between the countries is no longer permitted. In March, the prime minister had said that it is in the US and Canada's interests to keep the border unmilitarised after the United States floated the idea of placing troops on the Canada-US border. [Full Article...]
"We have done everything": Oasis and Warehouse fall into administration
The retail, which run 90 stores across the country including eight in Northern Ireland, as well as hundreds of concession stores, is expected to appoint big four auditor Deloitte on Wednesday to run the process. It has since been confirmed that both retailers have entered into administration, with more than 200 staff members losing their jobs with immediate effect. [Full Article...]