Initially I wanted to post everything nice nice but looking at the time now, it is 2:15am and I got to wake up for the webinar, I decided to make this a summary and you will have to refer to the charts. Plus I have to send out 1 nice alert later after this. Apologies […]
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BBC News – Business- Oil producers agree to cut production by a fifthThe group will cut production by 10 million barrels a day from May to combat a fall in demand.
- EU agrees €500bn coronavirus rescue packageEU finance ministers reached the deal after marathon talks in Brussels.
- Coronavirus: Worst economic crisis since 1930s depression, IMF saysGlobal economic growth will turn "sharply negative" this year due to the pandemic, the IMF warns.
- Keeping the iconic Brompton bike company on the roadKeeping the Brompton folding bike company in shape through the Covid-19 pandemic.
- Record fall in UK economy forecastThe shutdown of large swathes of the UK economy will mean a huge hit to GDP over the next quarter.
- Coronavirus: US weekly jobless claims hit 6.6 millionThe Federal Reserve unveils more measures to shore up the economy as weekly jobless claims hit 6.6 million.
- Coronavirus: Banks’ top brass forgo bonusesPart of their remuneration, which is worth millions of pounds, will in some cases go to charity.
- Coronavirus: Government agrees emergency funding deal with BankThe government is set to borrow billions of pounds from its emergency Bank of England overdraft.
- Coronavirus: Airbnb restricts UK bookings to coronavirus key workersNHS staff and other key workers can still book accommodation through a programme called Frontline Stays.
- Virus could push half a billion people into povertyResearch warns the coronavirus pandemic could put a further 8% of world's population in poverty.
- Oil producers agree to cut production by a fifth
- Reuters: Business News
- U.S. jobless claims exceed six million for second straight weekThe number of Americans seeking unemployment benefits in the last three weeks has blown past 15 million, with weekly new claims topping 6 million for the second straight time last week amid tough measures to control the novel coronavirus outbreak that have abruptly ground the country to halt.
- Fed rolls out $2.3 trillion to backstop "Main Street," local governmentsThe U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
- Saudi, Russia debate record oil cut as U.S. resists actionOPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join any action.
- Futures turn higher after Fed stimulus, jobless claims dataU.S. stock index futures turned higher on Thursday after data showed jobless claims fell last week and the Federal Reserve rolled out a broad $2.3 trillion effort to bolster local governments and small and mid-sized businesses.
- Bloomin' Brands, Jana Partners agree to nominate two new directorsBloomin' Brands Inc and Jana Partners said on Thursday they have agreed to add two new independent directors to the Outback Steakhouse owner's board, months after the activist hedge fund pushed for changes due to struggling restaurant sales.
- Oil prices rise on hopes OPEC+ will agree supply cutsOil prices rose on Thursday on expectations the world's leading crude producers will at a meeting later in the day overcome obstacles that have so far prevented a deal to cut output in response to a collapse in global demand.
- Hyundai's Czech plant set to restart after coronavirus haltHyundai Motor Co's Czech plant plans to restart on April 14 after a three-week production outage as part of efforts to fight the coronavirus, becoming the first of the three major carmakers in the central European country to resume work.
- Exclusive: JPMorgan looking to offload Saudi and UAE sovereign fund loans - sourcesJPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document, as banks brace for a borrowing spree in the Gulf due to low oil prices.
- Index Ventures raises $2 billion for early-stage, growth investmentsVenture capital firm Index Ventures said on Thursday it had raised $2 billion for early-stage and growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
- California developer says virus an act of God, sues Exxon over stalled dealA California retail developer claims the state's coronavirus lockdown was an act of God that prevented it from completing a $4.2 million property acquisition, asking a court to prevent owner Exxon Mobil Corp from selling to any other buyers.
- U.S. jobless claims exceed six million for second straight week