Markets
Oil sinks after record 19 million-barrel USA crude build
Brent futures fell 33 cents, or 1.2%, to $27.37 a barrel by 1:22 p.m. EDT (1722 GMT), while U.S. West Texas Intermediate (WTI) crude fell 18 cents, or 0.9%, to $19.68. "The slow implementation of the agreement, the risk of non-compliance and no firm commitment from others to follow suit could see the market remain under pressure until the pandemic loosens its grip to let fuel demand recover", said... [Full Article...]
USA crude falls below $15 a barrel as virus throttles demand
US oil prices have tumbled further as the world economy grapples with the COVID-19 coronavirus pandemic and storage facilities fill up, even as the world's largest oil nations attempt to prop up prices with historic production cuts . [Full Article...]
Chancellor Rishi Sunak extends coronavirus business bailout to all viable firms
The scheme, which will be part of £330bn of taxpayer money meant to support the United Kingdom economy, will let firms with a turnover of more than £45m apply for up to £25m of finance from banks. The government recognises many start up and early stage companies are facing challenges and are working with industry to assess these and consider further ways to offer support. [Full Article...]
House Dems Propose $2,000/Month Cash Payments to Americans
If you are 16 or older and make under $130,000 a year, then you would be old enough to receive $2,000 a month under a new proposed House bill . 'The economic impact of this virus is unprecedented for our country. Khanna and other Democrats are not the only ones who have advocated such a move. Tom Cotton of Arkansas too had urged the government to cut hefty checks for American adults to counter ... [Full Article...]
North American stocks fall again as businesses look to hit pause
Stocks swung wildly Tuesday as Wall Street struggled to recover from its worst day in more than 30 years amid more monetary stimulus and progress on a possible treatment for the coronavirus . Energy was the worst-performing sector in the S&P 500, tumbling 11.3% as USA crude prices fell to their lowest levels in 18 years. Industrials moved higher even though Chorus Aviation Holdings fell 24 per ... [Full Article...]
China’s economy contracts for the first time on record
No new deaths were reported, it said. World health organization March 11 announced the outbreak of a new coronavirus infection COVID-19 pandemic. This is in line with March Purchasing Managers' Index (PMI) and trade data published earlier which showed a clear monthly uptick. [Full Article...]
Single victor of €61m EuroMillions jackpot
It comes after a player in South Ayrshire made a claim for a separate £57.8m Euromillions prize a month after winning it. The claim is going through the validation process before any payment can be made. "We will now focus on supporting the ticket holder through the validation and help them start to enjoy their win". The owner of the winning ticket matched all five main numbers and the two L... [Full Article...]
International Business: China's economy shrinks for first time in decades
China's GDP has fallen by 6.8 percent year-on-year in the first quarter of 2020 amid the COVID-19 pandemic, the National Bureau of Statistics said on Friday. Mounted asset funding shrank 16.1% in January-March. The pandemic has contaminated greater than 2 million globally and killed greater than 130,000. [Full Article...]