Saturday January 29-th, 2022

United States marks biggest economic contraction in 11 years United States marks biggest economic contraction in 11 years

And yet forecasters say that will be only a precursor of a far grimmer GDP report to come for the current April-June quarter, when business shutdowns and layoffs have struck with devastating force. In the last recession, which became the longest sinc...

Oil prices settle mixed amid high volatility Oil prices settle mixed amid high volatility

West Texas Intermediate Crude oil futures for June ended down $0.44, or 3.4%, at $12.34 a barrel, after hitting a low of $10.07 early on in the day. Worldwide benchmark Brent crude was trading at $19.20 per barrel at 0625 GMT for a 4% decline af...

Trump signs $484B small business coronavirus relief bill into law Trump signs $484B small business coronavirus relief bill into law

The amendment includes increased funding for small businesses and financial institutions, and healthcare entities. The SBA will resume accepting PPP loan applications on Monday at 10:30 a.m. When asked after the release of the Treasury's new gu...

Sensex rises 250 points, Nifty tops 9,450 on firm global market cues Sensex rises 250 points, Nifty tops 9,450 on firm global market cues

On Friday (April 24), equity benchmark indices ended on a negative note with the Sensex down 535.86 points or 1.68% at 31327.22, while the broader Nifty closing 159.50 points down or 1.71% at 9154.40. the company had net profit of Rs 261 crore in the...

Bitcoin Price Smashes $8.5K Resistance With $1K Gain in 24 Hours Bitcoin Price Smashes $8.5K Resistance With $1K Gain in 24 Hours

However, with the sheer amount of short positions still open on margin exchanges Bitcoin could well experience a short squeeze , which could see price leapfrog the $8,830 level before testing $9,050. Just days ago, analysts were skeptical that Bitco...

Trump accuses World Health Organization of being ‘pipe organ’ for China Trump accuses World Health Organization of being ‘pipe organ’ for China

Trump has been heaping blame on China for a global pandemic that has killed at least 60,000 people in the United States according to a Reuters tally, and thrown the US economy into a deep recession, putting in jeopardy his hopes for another four-year...

Kentucky Man Tupac Shakur Receives Apology From Governor Kentucky Man Tupac Shakur Receives Apology From Governor

Shakur , who goes by his middle name, "Malik", worked as a restaurant cook before the coronavirus pandemic shut down shops across the state, according to the outlet. He tells the Lexington-Herald, " I've been struggling for like the last month tryi...

COVID-19: GDP chart shows 1st quarterly decrease in 6 years COVID-19: GDP chart shows 1st quarterly decrease in 6 years

Most economists see the U.S.in recession already even though the technical definition is generally two consecutive quarters of negative growth. "The full economic effects of the COVID-19 pandemic can not be quantified in the GDP estimate for the fi...

Trump orders meat processing plants to stay open Trump orders meat processing plants to stay open

Shares of Tyson and poultry producer Sanderson Farms Inc. extended gains after news of the expected order, while shares of JBS, the world's top meat producer, were little changed. "However, outbreaks of Covid-19 among workers at some processing facil...

NAB slashes shares amid early release of profit results NAB slashes shares amid early release of profit results

Australia's big-four lender NAB reported earnings shrank by 25 percent in the first half of the financial year, as it looked to bolster its war chest with a US$2.2-billion capital-raising bid. The bank said it would cut its interim dividend by 65% ...

IRS enhances Get My Payment online application to help taxpayers IRS enhances Get My Payment online application to help taxpayers

It also is created to allow Americans who have filed tax returns in 2018 and 2019, but do not have direct deposit information on file with the IRS , to provide their banking information to have the payment sent directly to their bank accounts rather...

Airbus says virus aviation crisis still at 'early stage' Airbus says virus aviation crisis still at 'early stage'

Shares in Airbus and Boeing have dropped some 60% this year as customer airlines collapse or seek billions of dollars in government bailouts. Several other top aerospace firms are also expected to report weaker results on Wednesday, including U...

347 new COVID-19 cases in Ontario, 45 more deaths 347 new COVID-19 cases in Ontario, 45 more deaths

Across the province, 45 additional deaths were confirmed. "During this extraordinary period, we need to do everything we can to support businesses as they struggle to operate as an essential business, or wait for the outbreak to subside", said Mini...

Oil up as USA crude stocks due to fall short of estimate Oil up as USA crude stocks due to fall short of estimate

Refinery crude runs rose by 305,000 barrels per day, boosting refinery utilization rates by 2 percentage points to 69.6% of total capacity. Expectations on economic normalization rose after encouraging update on a clinical trial for US biopharmaceu...

Virgin Atlantic ‘still talking’ with United Kingdom govt on bailout Virgin Atlantic ‘still talking’ with United Kingdom govt on bailout

Branson has set a deadline for the end of next month to save the United Kingdom airline from collapse and is focused on securing new private investment from more than 100 financial institutions, the newspaper quoted people familiar with the matter as...

Oil up as United States crude stocks due to fall short of estimate Oil up as United States crude stocks due to fall short of estimate

U.S. West Texas Intermediate (WTI) crude futures skidded by as much as 16 per cent and were off 14.7 per cent, or $1.88 cents, at $10.90 a barrel as of 0158 GMT. Demand for gasoline over the past month is down some 44 percent over the same period...

COVID-19: British Airways to cut up to 12,000 jobs COVID-19: British Airways to cut up to 12,000 jobs

IAG said BA will consult on a "restructuring and redundancy programme" as it is expected to take "several years" until demand for air travel returns to 2019 levels. A 1.3 billion-euro ($1.4 billion) charge from fuel and currency hedges added to the g...

Dr. Anthony Fauci Praises ‘Important’ Study on Remdesivir’s Effectiveness Against Coronavirus

The drug will likely be approved for use in certain settings on the basis of the positive result, said Jefferies health-care strategist Jared Holz, at least until better alternatives are available."There is a massive bias to look at the data with hal...

Asia market remain cautious ahead of Fed Reserve's policy decision, corporate earnings Asia market remain cautious ahead of Fed Reserve's policy decision, corporate earnings

Investors will seek to learn how long the Fed expects the economic downturn to last, said Eddy Loh, senior investment strategist at Maybank Group Wealth Management. Also Wednesday, a series of blue-chip companies are due to publish earnings for the f...

US GDP contracts 4.8% ending decade of growth

United States gross domestic product ( GDP ) fell 4.8 percent in the first quarter of 2020 amid the coronavirus pandemic lockdown, according to data released by the Department of Commerce on Wednesday. Business investment was also weak: It sank 2.6...

Oil prices claw back losses as storage fills less rapidly than feared

It is the biggest weekly percentage loss on record based on most-active contracts, according to Dow Jones Market Data. Crude inventories rose by 9 million barrels in the week to April 24 to 527.6 million barrels, compared with analysts' expectation...

S&P/TSX composite posts triple-digit advance, US stock markets mixed S&P/TSX composite posts triple-digit advance, US stock markets mixed

New Zealand shed 0.9%. The ASX-S&P 200 in Sydney gained 1.5% to 5,393.40 while India's Sensex added 1.7% to 32,657.03. At 05:41 a.m. EDT, Dow e-minis were up 283 points, or 1.18 per cent, S&P 500 e-minis were up 30 points, or 1.05 per cent and Na...

Global aviation will be slow to recover post-coronavirus, says Boeing CEO Global aviation will be slow to recover post-coronavirus, says Boeing CEO

NY aviation analysts Bernstein says however that it does not "believe that either Boeing or Airbus is headed for a critical liquidity situation unless the coronavirus crisis extends substantially into next year". Boeing said it was confident of its...

Gilead says remdesivir hit primary target in COVID-19 study Gilead says remdesivir hit primary target in COVID-19 study

Gilead Sciences Inc. said data from a US study of its drug remdesivir showed the medication had met the primary endpoint in a trial of its effectiveness in treating COVID-19. Merdad Parsey said in a statement. Gilead stated that one of these studies,...

US economy shrank at 4.8% rate last quarter as virus struck

In just a few weeks, businesses across the country have shut down and laid off tens of millions of workers. A report released by the Bureau of Economic Analysis released on Wednesday morning reveals GDP fell by 4.8 percent annualized between Januar...

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