Markets

Markets Aramco 2019 profit slides 20.6% on lower crude prices
Author: 0 Aramco 2019 profit slides 20.6% on lower crude prices

But Moscow, the world's second-biggest oil producer, refused - prompting Riyadh to drive through massive price cuts and pledge to boost production. The US is the largest producer of oil in the world, followed by Saudi Arabia and Russian Federation.

Markets Fed slashes interest rates to near zero due to coronavirus
Author: 0 Fed slashes interest rates to near zero due to coronavirus

See Also: After Worst Week Since 2008, What's Next For The Stock Market? The primary tools of central banks - lower interest rates and easier access to credit - aren't well-suited to address a crisis caused by a pandemic that has frightened consumers away from traveling, shopping or gathering in group settings.

Markets Google sent 100,000 employees home
Author: 0 Google sent 100,000 employees home

A spokesperson for the corporate confirmed earlier studies with TechCrunch that staff throughout the continent are being really helpful to work at home, if their positions permit for it. The work-from-home recommendation applies in the UK. Google is the latest major company to encourage remote work. She advised employees to prioritize their health and the health of the communities.

Markets Oil falls $2 as Trump surprises with travel ban
Author: 0 Oil falls $2 as Trump surprises with travel ban

Gulf stock markets have sustained losses throughout the week after OPEC failed to reach agreement with non-OPEC producers led by Russian Federation on additional production cuts to support prices. At the meeting on Friday between the 14-member cartel and non-member oil producers, often referred to as OPEC+, OPEC recommended an additional 1.5 million bpd of oil cuts until the end of 2020, in addition to rolling over existing cuts of 2.1 million bpd.

Markets Trump to make prime time address on US coronavirus response
Author: 0 Trump to make prime time address on US coronavirus response

White House officials have also said the administration could undertake executive action to help small businesses and workers, including those who do not receive paid sick leave. Some Senate Republicans mentioned a possible deal might embrace $300 billion in payroll tax aid that might assist individuals make hire and mortgage funds, or pay medical payments if members of the family' work hours are lowered throughout the outbreak.

Markets Qantas slashes global capacity to USA and Europe, grounds A380s
Author: 0 Qantas slashes global capacity to USA and Europe, grounds A380s

Qantas aircraft are seen on the tarmac at Melbourne International Airport in Melbourne, Australia. A further two A380s are undergoing scheduled heavy maintenance and cabin upgrades, leaving two of its A380s flying. The single bright spot in the announcement was the drop in fuel price. Airbus had set that deadline on the basis the production slots were potentially valuable and could be sold to other airlines, Joyce said.

Markets Coronavirus found on cruise ship as more US states report cases
Author: 0 Coronavirus found on cruise ship as more US states report cases

White House officials have been blindsided by the president's sudden moves. Both video and transcription of the clip indicated that Trump did not say that. Dr. Peter Hotez, dean of tropical medicine at Baylor College of Medicine, this week warned US lawmakers against minimizing the viruses risk for vulnerable people.

Markets CORONAVIRUS: South Africa confirms first positive test
Author: 0 CORONAVIRUS: South Africa confirms first positive test

Facebook is closing its Seattle office until Monday. The company will limit nonessential travel within the United States and cancel warehouse tours, while some job interviews are being conducted remotely rather than via face-to-face. That employee left work on February 25 and has not returned. The National Institute for Communicable Disease assured South Africans that positive identification of the COVID-19 case was a health system success, as it did what it was created to do: detect ...

Markets BLACK MONDAY Russian Share Prices Collapse, Ruble and Oil Tumble
Author: 0 BLACK MONDAY Russian Share Prices Collapse, Ruble and Oil Tumble

Oil prices plummeted Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russian Federation signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed. The oil market has seen arguments like this before. That effort - created to keep OPEC's market share against a rising USA shale output - ultimately failed, and OPEC later set production curbs.

Markets Millions put under corona quarantine in Italy
Author: 0 Millions put under corona quarantine in Italy

The decree said that only people with a "serious" reason that can not be postponed, such as urgent work or family issues, would be allowed in or out of the quarantine zones, which affect one-quarter of Italy's population of 60 million. "We want to protect the health of all citizens", Conte said. Dr. Anthony Fauci , director of the National Institute of Allergy and Infectious Diseases and a member of the Trump administration's coronavirus task force , says he is not encouraged as he ...

Markets Company warns their vodka can't act as hand sanitizer
Author: 0 Company warns their vodka can't act as hand sanitizer

Tito's Vodka gave the same reply to several other savvy users who were using the brand to make their homemade sanitizer gel. But googler beware: If that recipe calls for using vodka to kill germs, it's probably not going to do anything. But is making your own hand sanitizer a good way to guard against the coronavirus? "Others told Tito's they should capitalize on the outbreak, with one lady telling the firm, "@TitosVodka you're missing some advertising opportunities with recipes for ...

Markets Oz newspaper prints extra pages to help readers combat toilet paper scarcity
Author: 0 Oz newspaper prints extra pages to help readers combat toilet paper scarcity

A Coles spokesperson told Yahoo News Australia on Sunday the one-pack limit would be enforced for customers shopping both in-store and online, to "help improve access to toilet paper for our customers". Mr Banducci said these were "unusual and challenging times" and would introduce more limits if needed. Shoppers have claimed a Melbourne Woolworths store has resorted to storing its toilet paper behind its cigarette counter in a bid to stop people buying in bulk.

Markets Major output cut awaiting non-OPEC desicion
Author: 0 Major output cut awaiting non-OPEC desicion

West Texas Intermediate futures for April delivery added 65 cents, or 1.4%, to $47.43 a barrel on the New York Mercantile Exchange as of 10:16 a.m.in Singapore. It said two other sources confirmed talks were now focusing on additional cuts in excess of 1 million bpd. Zangeneh said, "OPEC has played its role.

Markets How major U.S. stock indexes fared Monday
Author: 0 How major U.S. stock indexes fared Monday

Stocks surged on Monday following last week's rout, when Wall Street suffered its worst week since 2008. Futures underlying the Dow Jones Industrial Average, S&P 500 , and Nasdaq jumped between 2% and 2.2%. However, analysts warned the selloff after the rate cut underlined the Fed's limited powers . It might dampen it for a while, but it would do little to address the underlying issue itself.

Markets Amazon confirms first coronavirus diagnosis among U.S. employees
Author: 0 Amazon confirms first coronavirus diagnosis among U.S. employees

The Epoch Times reached out to an Amazon spokesperson who confirmed the news. The CDC said on its website that COVID-19 is mainly transmitted "between people who are in close contact with one another (within about 6 feet)" and "through respiratory droplets produced when an infected person coughs or sneezes".

Markets Elliott has $1B stake in Twitter, nominates four board members
Author: 0 Elliott has $1B stake in Twitter, nominates four board members

The new member is a $40 billion hedge fund , which is a major activist investor (the kind of investor that acquires a stake in a company in order to influence its direction in business). Therefore, Elliott reportedly claimed that Twitter is falling behind on innovations, unlike other social media platforms. Facebook and Snapchat have introduced new products and features that attract advertisers, while Twitter hasn't changed its product much beyond raising its character count.

Author: 0 Powell opens door to Fed rate cut on 'evolving' risks from virus

The US dollar on Friday slid to a seven-week low against the Japanese yen after US Federal Reserve Chair Jerome Powell suggested that the central bank could cut interest rates in the wake of COVID-19. economists said Friday they now expect the coronavirus to inflict a "short-lived global contraction" on the world economy that forces the Fed to slash interest rates by 75 basis points over the first half of this year.

Markets Corona beer victim of coronavirus outbreak
Author: 0 Corona beer victim of coronavirus outbreak

Of course, those who aren't able to differentiate the two began inquiring about whether it was Corona beer that was actually the cause of the virus. The phrase "38% of Americans" was trending Friday on Twitter following a survey showing that proportion of beer drinkers "would not buy Corona under any circumstances now".

Markets New coronavirus case of 'unknown origin' confirmed in California
Author: 0 New coronavirus case of 'unknown origin' confirmed in California

The doctor contacted public health officials on Wednesday to request that the woman be tested for the virus. Two students in Palo Alto, a city of 67,000 in the northwestern corner Santa Clara county , also may have been exposed to the virus, according to a letter to parents from the school's superintendent Friday.