Mar.22 — Democrats have blocked the Senate stimulus bill after negotiations have faltered. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Asia.” …read more […]
(Bloomberg) — Oil kept falling toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran into political delays.Futures in London fell more than 8% in early Asian trade after plunging 20% last week. Texas Railroad Commissioner Ryan Sitton landed a rare invitation to attend OPEC’s June meeting on Friday, but just hours later hopes for an agreement began to unravel as his call to curb output was criticized by fellow regulators and drillers.Meanwhile, Democrats in the U.S. Senate blocked a Republican economic …read more […]
Mar.22 — German Chancellor Angela Merkel is in quarantine at home following contact with a doctor who later tested positive for coronavirus. Spain and Italy are suffering their worst days of the pandemic so far with deaths surging in both countries. Bloomberg’s Rosalind Mathieson reports on “Bloomberg Daybreak: Asia.” …read more […]
Asian shares slid on Monday as more countries all but shut down in the fight against the coronavirus, threatening to overwhelm policymakers’ frantic efforts to cushion what is clear to be a deep global recession. In a taste of the pain to come, E-Mini futures for the S&P 500 dived 5% at the open to be limit down. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2%, with South Korea badly hit. …read more […]
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […] …read more […]
The agreement could put an end to a bitter fight over Occidental’s ill-timed purchase of rival Anadarko Petroleum last year, a bet on the continued growth of U.S. shale. After closing that deal, the market turned against Occidental, with oil prices diving more than 60% this year as the global coronavirus outbreak cut oil demand and OPEC and Russia launched an oil-price war. If the settlement talks conclude successfully, Icahn associates Andrew Langham and Nicholas Graziano would get board seats, and Icahn would have a say in the naming of a third independent director, the source said. …read more […]
Stocks were poised to extend losses Monday as investors awaited government action to combat the coronavirus pandemic. …read more […]
(Bloomberg) — Grim speculation about the fate of the global economy sent U.S. equity futures to exchange-mandated halts for the ninth time in 10 days. The benchmark for American equities is now down more than 32% in a month with the circuit breakers leaving traders unsure of the true extent of declines.Warnings about damage to the economy from the coronavirus grew more dire as cities from New York to Los Angeles all but shut down and cases rose rapidly. Federal Reserve Bank of St. Louis President James Bullard said U.S. unemployment may hit 30% in the second quarter, with GDP …read more […]
(Bloomberg) — The global rush for dollars that’s been roiling the $6.6 trillion a day foreign-exchange market has showcased a missing piece of financial-safety architecture that world policy makers never addressed in the aftermath of the 2008 crisis.The financial system’s reliance on one keystone currency proved to be an amplifier of shocks more than a decade ago. Yet since then, the greenback’s role has climbed even further as borrowers outside of America ramped up dollar-denominated debt. That’s again adding an enormous layer of stress on markets.“It’s precisely what the global economy does not need at this moment,” Alexander Wolf, head …read more […]
Stocks are reeling from the coronavirus crisis, with relentless selling pushing benchmarks to three-year lows. …read more […]
McDonald’s Corp said on Sunday it would temporarily close all its restaurants in the UK and Ireland by Monday evening because of the coronavirus outbreak.
British entrepreneur Richard Branson said on Sunday companies in his Virgin empire will be investing $250 million in coming weeks and months to save jobs from the impact of the coronavirus outbreak.
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