Markets
'Personification of hope and courage': Nancy Pelosi endorses Joe Biden for president
Pelosi is a face of the Democratic establishment and boasts perhaps the widest network across the party's wealthiest donors. Joe Biden later retweeted Pelosi's message. Biden, who served as vice president under former president Barack Obama , had already emerged as the Democrats' presumptive nominee after decisive primary victories in a string of primaries before the COVID-19 pandemic shut do... [Full Article...]
Airbus says virus aviation crisis still at 'early stage'
Airbus customer British Airways said Tuesday it will cut as many as 12,000 jobs, or close to 30 per cent of the total, to help survive a downturn in travel that could last for years, while Deutsche Lufthansa is locked in talks with the German government over a multibillion-euro bailout and could seek court protection if it can't reach a deal. [Full Article...]
Meat Shortage Coming Nationwide, Tyson Foods Says
It's distribution, and we will, uh, probably have that today solved. Meanwhile, workers at a Smithfield plant in South Dakota told The Epoch Times that executives from WH Group, Smithfield's parent company in China, regularly visit the plant, and even visited the plant about a month after President Trump had banned travel from China. [Full Article...]
Trump signs order compelling meat plants to stay open amid pandemic
The Environmental Working Group called the order a potential death sentence. The Trump administration has already waived regulations limiting meat-processing line speeds and tried to cut farm and food workers' pay , and Trump's Occupational and Safety Health Administration has done little or nothing to ensure these essential workers are protected from the virus and its impacts. [Full Article...]
HSBC profit almost halves due to coronavirus outbreak
Europe's biggest bank by assets said profit before tax came in at $3.21 billion for January-March, down from $6.21 billion a year ago and below an average analyst forecast of $3.67 billion compiled by the bank. HSBC, which along with other United Kingdom banks this month announced the suspension of dividend payouts after pressure from the regulator to conserve capital, said it would review the dec... [Full Article...]
Oil rebounds above $14 per barrel
Oil prices climbed on Wednesday, trimming some of this week's steep losses after US stockpiles rose less than expected and hopes grew for demand to pick up as some European countries and USA cities moved to ease coronavirus lockdowns. S&P operates the GSCI commodity index, which is tracked by pension funds and other big investors. "It is hard to see sentiment turning convincingly positive for oi... [Full Article...]
Trump orders meat processing plants to stay open
President Donald Trump plans to order meat-processing plants to remain open, declaring them as critical infrastructure as concerns grow to the food supply chain from the coronavirus pandemic . According to the United Food and Commercial Workers International Union , which represents the meatpacking and food processing sector, at least 10 meatpacking workers and three food processing workers h... [Full Article...]
Ottawa police won't block bridges if Quebec reopens before Ontario: Mayor Watson
Also to begin May 1 are outdoor gatherings and non-contact outdoor recreational activities of no more than five individuals from different households. "Turning on an economy after an unprecedented shut-down is not as simple as flipping a switch". To reopen the economy, the government will consider factors such as the risk of the spread of COVID-19 and the ability to implement protective measures... [Full Article...]