With the U.S. coronavirus death toll topping 51,000 and nearly one in six workers out of a job, Georgia, Oklahoma and several other states took tentative steps at reopening businesses on Friday, despite disapproval from President Donald Trump and medical experts.
(Bloomberg) — Plant shutdowns are leaving the U.S. dangerously close to meat shortages as coronavirus outbreaks now spread to suppliers across the Americas.Almost a third of U.S. pork capacity is down, the first big poultry plants closed on Friday and experts are warning that domestic shortages are just weeks away. Brazil, the world’s No. 1 shipper of chicken and beef, saw its first major closure with the halt of a poultry plant owned by JBS SA, the world’s biggest meat company. Key operations are also down in Canada.While hundreds of plants in the Americas are still running, the staggering acceleration …read more […]
One of the lesser-known casualties of the coronavirus crisis is physical gold.
You know, the type of stuff that you used to be able to buy from a coin dealer?
Physical gold is in such short supply today that paying $100 or $200 more per ounce than the spot price is not unusual (it’s usually a small fraction of that).
But refiners are currently having trouble getting the metal… if they are even operating. Mines have shut down due to government mandates, as well as to protect workers from the virus. Mints have closed – transport is affected. In other words, good luck …read more […]
The U.S. federal government is looking at “a whole bunch of alternatives” to support oil and other energy companies, Treasury Secretary Steven Mnuchin said on Friday as the industry struggles with plummeting prices and demand as the coronavirus crushes economic activity.
The powerful United Auto Workers union on Friday criticized Las Vegas Mayor Carolyn Goodman’s call to re-open casinos despite the continued risk of coronavirus, the latest labor organization to weigh in on her remarks.
A JBS SA poultry plant in southern Brazil was hit by an outbreak of COVID-19, according to labor prosecutors, marking the first large-scale infection at a Brazilian meat plant.
The U.S. government is considering taking equity stakes in U.S. energy companies as it seeks to help the nation’s oil and gas sector amid the coronavirus outbreak, Treasury Secretary Steven Mnuchin said on Friday.
A nationwide business shutdown and surge in U.S. government spending will nearly quadruple the federal deficit to a record $3.7 trillion this fiscal year as the country combats the coronavirus pandemic, congressional forecasters said on Friday.
Amazon would end up stronger, not weaker, if Trump got his way and forced the postal service to raise package-delivery prices. …read more […]
President Trump offered a broadside against the Post Office on Friday. “The Postal Service is a joke” he said. The President a union that represents mail carriers appeared on Yahoo Finance a fews hours later and responded. …read more […]
Billionaire investor Carl Icahn said he expects to see “good opportunities” to buy after the historic stock market sell-off but warned there will likely be more heavy selling because the coronavirus outbreak has yet to be contained.
Wall Street rallied on Friday, led higher by Apple and Microsoft as investors finished a turbulent week of trading and some states prepared to relax coronavirus-related lockdowns.
A nationwide business shutdown and a surge in U.S. government spending will nearly quadruple the federal deficit to a record $3.7 trillion this fiscal year, as a gyrating American economy reacts to the coronavirus pandemic, congressional forecasters said on Friday.
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