Markets
US, China trade chiefs affirm trade deal progress in phone call
They are doing it out of malicious intentions. She also said that Chinese local governments and companies had donated 9.6 million masks, 500,000 test kits, 305,000 pairs of gloves and 133,500 pairs of goggles to 55 cities in 30 US states as of Tuesday. [Full Article...]
Labor department estimate: USA payrolls contracted 701000 in March
With jobless claims, the most timely indicator of labour market health, breaking records over the last couple of weeks and a majority of Americans now under "stay-at-home" or "shelter-in-place" orders, Oxford Economics is predicting payrolls could plunge by at least 20 million jobs in April, which would blow away the record 800,000 tumble in March 2009. [Full Article...]
Cash-strapped Postal Service 'in peril' without intervention from Congress: watchdog
Republican and Democratic lawmakers had reached a tentative agreement during negotiations on the coronavirus stimulus package to send the Postal Service direct cash, but Mr. The president also has complained about the below-market rates charged by the postal service to Amazon and other companies to deliver their packages. [Full Article...]
Over 33 Million People Have Filed For Unemployment Since Coronavirus Panic Began
More than 20 million people in the U.S. lost their jobs in April and the unemployment rate more than trebled as the coronavirus pandemic shuttered the global economy, triggering a financial crisis unseen since the Great Depression . Some argue, however, that April could mark the trough in job losses as more businesses access relief funds, especially those under the Paycheck Protection Progr... [Full Article...]
London jobless rates ballooned in April as COVID-19 shutdown hammered economy
Across Canada, the nation lost nearly two million jobs overall last month - bringing total losses since February to three million. Canada shed almost two million jobs in April, as the novel coronavirus pandemic tore through the Canadian economy. [Full Article...]
Brent crude rises above US$31 as Saudi Arabia hikes selling prices
Saudi Arabia, the world's largest exporter, seems to be winning the fight for gross sales as it lowers prices for its crude. "They are still fighting for market share in Asia but have backed off USA market share competition all but completely". [Full Article...]
Sensex falls over 300 points
At 11:59 am, the Sensex traded 166.15 points - or 0.52 per cent - lower at 31,519.60 while the Nifty was down 55.05 points - or 0.59 per cent - at 9,215.85. Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with significant gains as moves to ease lockdown measures and reopen economies around the world fuelled positive investor sentiment. [Full Article...]
Trump's Personal Valet Tests Positive For COVID-19
One of the officials also said that Trump divulged fears that he would look silly in a mask and that images of him wearing one would be used by his detractors in negative ads. "No matter what you do, testing is not a ideal art". Secretary of State Mike Pompeo said the U.S. government had not confirmed that a lab in Wuhan, China , accidentally released the virus. [Full Article...]