Markets

Oil prices rise on U.S.-China trade tension

Oil prices rise on U.S.-China trade tension Worldwide fuel demand fell by an estimated 30% in April largely due to stay-at-home orders, and weak consumption is expected to overhang the crude market for months, even as major world oil-producing nations and companies quickly reduce output. [Full Article...]

Stocks slip as US pins blame for virus on China

Stocks slip as US pins blame for virus on China A ramping up of tensions between the Trump administration and China over the origins and handling of the coronavirus pandemic also weighed on markets around the world. Facing criticism over his handling of the crisis, President Donald Trump has tried to shift the blame to China. But it informed the World Health Organization of the outbreak on December 31; contacted the U.S. [Full Article...]

Buffett dumps USA airline stocks as coronavirus creates chaos

Illustrating his remarks with dozens of plain black-and-white slides, the 89-year-old billionaire called dealing with the pandemic "quite an experiment" that had an "extraordinarily wide" range of possible economic outcomes. successfully survived through and thrived. "We made that decision in terms of the airline business". "Historically, Buffett has been so visible in times of crisis, and en... [Full Article...]

Chinese buyers disappear from Hong Kong real estate

Seasonally adjusted gross domestic product (GDP) meanwhile shrank 5.3 percent in January-March from the previous quarter, versus a revised 0.5 percent decline in October-December, advance estimates showed on Monday. Two of Hong Kong's most important sectors, tourism and retail, have been hit hard by anti-government protests and subsequent shutdown measures following the outbreak of Covid-19. [Full Article...]

Warren Buffett sells all shares in major airlines amid $50bn loss

Warren Buffett sells all shares in major airlines amid $50bn loss States across the US are letting nonessential businesses reopen and are easing stay-at-home orders in an effort to restart the economy after the coronavirus forced a near-global halt in economic activity. airlines have cut hundreds of thousands of flights and parked their planes. Delta Air Lines , American Airlines Co, Southwest Airlines Co and United Airlines fell between nine per cent a... [Full Article...]

J. Crew Files for Bankruptcy Protection Amid Coronavirus Pandemic

The J.Crew Group Inc. filed for bankruptcy on Monday in a Virginia federal court with an agreement to eliminate its roughly $1.65 billion of debt in exchange for ceding ownership to creditors. "As we look to reopen our stores as quickly and safely as possible, this comprehensive financial restructuring should enable our business and brands to thrive for years to come", J.Crew CEO Jan Singer said i... [Full Article...]

Uber to Require Drivers, Riders to Wear Face Coverings

Uber to Require Drivers, Riders to Wear Face Coverings In addition, CNN Business reported that Uber was working on developing technology that could detect if drivers are wearing face masks or coverings before they start accepting trips. Last month, Uber began shipping masks and disinfectant spray to employees, prioritizing those in areas that previously requested drivers cover their face. [Full Article...]

Goldman Sachs says oil demand to increase prices in 2021

Goldman Sachs says oil demand to increase prices in 2021 Fading optimism surrounding global growth prospects as well as a stronger U.S. Dollar is also weighing on dollar-denominated crude oil futures. Major producers in April agreed to a production cut deal by 10 million barrels a day in May and June. [Full Article...]


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