Wednesday January 26-th, 2022

Oil prices up 10% with rising Asia demand Oil prices up 10% with rising Asia demand

June futures for Brent on London's ICE Futures exchange this time rose by 2.08 dollar (10,21%) - to 22.45 per barrel. US oil rose 5 cents to trade at $16.54 per barrel, after surging almost 20% in the previous session. shale producers catching the...

US House panel wants Bezos to testify in antitrust probe US House panel wants Bezos to testify in antitrust probe

Amazon (AMZN ) had told lawmakers past year that it uses aggregated seller data. The letter cites an April 23 Wall Street Journal article on Amazon's practices, which found that the company's executives had access to the data of third party s...

Anhui Jianghuai Automobile : Nio shares surge after it secures $1 billion investment Anhui Jianghuai Automobile : Nio shares surge after it secures $1 billion investment

However, NIO was forced to recall almost 5,000 of its flagship ES8 SUVs in June 2019 due to a problem with the vehicle's battery pack, which caused at least one vehicle to catch fire , which damaged the company's reputation. The company posted a los...

President Donald Trump 'has seen evidence' coronavirus came from Wuhan laboratory President Donald Trump 'has seen evidence' coronavirus came from Wuhan laboratory

Outraged at reports that the pensions of USA government and military retirees are about to be invested in China , President Trump is set to go all-out to stop the proposed investment approved in 2017 by the Federal Retirement Thrift Investment Boa...

Fed expands yet-to-be-launched lending backstop for larger firms Fed expands yet-to-be-launched lending backstop for larger firms

The adjustments to the Main Street program announced Thursday might encompass some of those firms. The lending pool was previously limited to businesses with up to 10,000 employees or $2.5 billion in revenue. The expansion of the Main Street ...

Tesla Stock And Related ETFs Plunge After Apparent Musk Tweets Tesla Stock And Related ETFs Plunge After Apparent Musk Tweets

Tesla's founder Elon Musk wiped $14bn off its value after tweeting its share price was too high "in my opinion". No legal counsel for a publicly listed company would allow its CEO to make the tweets that have come from Musk's account in the last h...

World Health Organization says virus 'natural in origin' World Health Organization says virus 'natural in origin'

Mr Trump was then asked: "Have you seen anything at this point that gives you a high degree of confidence that the Wuhan Institute of Virology was the origin of this virus?" He replied: " Yes, I have ". He has said previously his administrati...

Dow, S&P close down 1 percent, still report best month since 1987 Dow, S&P close down 1 percent, still report best month since 1987

The S&P 500 is up 13.3% for April, which would be and its best monthly performance since 1974. "The disconnect between the market and the economy in April is about as wide as any of us have ever seen", said Ryan Detrick, senior market strategist fo...

Reopened golf courses, campsites part of Alberta relaunch plan Reopened golf courses, campsites part of Alberta relaunch plan

After weeks of not knowing when things will ever feel like they're back to normal, Premier Jason Kenney has finally dropped a date he has in mind for when the province will start to reopen. There would be limits on occupancy. This could include sum...

Slight Rise Suggests Optimism as OPEC+ Output Cuts Begin Slight Rise Suggests Optimism as OPEC+ Output Cuts Begin

Minister of Mineral Resources and Energy, Gwede Mantashe, said in a statement that the main reason for the fall in fuel prices was a decrease in the average benchmark Brent Crude oil price from $35.25 to $20.00 per barrel for the period under revie...

Tesla shares drop after Elon Musk tweets 'stock price is too high' Tesla shares drop after Elon Musk tweets 'stock price is too high'

The billionaire said in a separate post he's selling "almost all" of his physical possessions and won't own a house. Tesla's stock had been trading at about $760 a share then, after Musk's 11:11 am Tweet, plummeted to below $700 a share within minu...

Tesla drops plan to recall some workers to California plant this week Tesla drops plan to recall some workers to California plant this week

So it's clear to see why it's so keen to start back up again. However, San Francisco Mayor London Breed on Friday said that it was likely the Bay Area's stay-at-home order will get extended beyond the current expiration date of May 3, according t...

Florida Takes The Lead In the Number of Unemployment Claims Florida Takes The Lead In the Number of Unemployment Claims

With so many processing offices inundated with claims, some Americans have reported weeks-long lags or not receiving benefits at all. The number of jobs lost due to the coronavirus shutdown continue to mount, with the latest weekly total of Ameri...

McDonald's release official statement amid speculation of a re-opening McDonald's release official statement amid speculation of a re-opening

The chain's United Kingdom and Ireland chief executive Paul Pomroy said he was exploring social distancing measures and PPE options for its crew, and opening in a limited capacity, but admitted restarting the business "is not an easy task".

Jeff Bezos puts shareholders in the corner Jeff Bezos puts shareholders in the corner

In the quarter to 31 March, sales climbed 27% to US$75.5bn compared to a year ago, for operating income down 9% to US$4bn. Revenue for the first quarter rose 26 percent to $75.5 billion (roughly Rs. Amazon said in its earnings release that it's...

Protests turn to riots as crisis-hit Lebanon approves economic rescue plan Protests turn to riots as crisis-hit Lebanon approves economic rescue plan

The currency hit a record low beyond 4,000 to the dollar on the black market this week. "We will go to the International Monetary Fund to request a programme", Diab said in a live TV address on Thursday, shortly after the government approved an eco...

IRS continues to send stimulus checks IRS continues to send stimulus checks

Good news for seniors and the disabled: Automatic $1,200 stimulus payments for people receiving Social Security retirement, survivors or disability insurance benefits (SSDI), or Railroad Retirement Board (RRB) benefits, are scheduled to begin arrivin...

Reliance Announces Salary Cuts; Mukesh Ambani To Forgo Entire Pay Reliance Announces Salary Cuts; Mukesh Ambani To Forgo Entire Pay

Since last 11 years, Mukesh Ambani has been getting a salary of Rs 15 crore, which has been left unchanged. The consolidated net profit of Reliance Industries Ltd, the oil to telecom conglomerate owned by Mukesh Ambani, plunged 37.2 per cent ...

Greggs to reopen select United Kingdom stores as early as next week Greggs to reopen select United Kingdom stores as early as next week

Greggs, which employs more than 25,000 staff across more than 2,050 retail outlets, will carry out a controlled trial in 20 shops in the Newcastle area with retail volunteers from the business providing feedback on what operational changes need to be...

Ryanair announces up to 3000 job losses across pilots and cabin crew Ryanair announces up to 3000 job losses across pilots and cabin crew

This morning, the airline said it was also considering pay cuts of up to 20%, unpaid leave and the closure of a number of its aircraft bases across Europe. "Lufthansa, Air France-KLM and Alitalia can now fund many years of below cost selling, whereas...

Oil prices fall as concerns over storage capacity rise Oil prices fall as concerns over storage capacity rise

Shale producers and oil majors are also reducing production. U.S. gasoline stocks fell by 3.67 million barrels compared to an estimated build of 2.49 million, according to the U.S. Also helping investor sentiment was the "positive data" from the stud...

US Stock Futures Drop Following Stocks' Best Month in Thirty Years US Stock Futures Drop Following Stocks' Best Month in Thirty Years

The spark for Wednesday's rally was a report that an experimental drug proved effective against the new coronavirus in a study run by the National Institutes of Health. But what got the 31.4% rally for the S&P 500 started on March 24 was massive ai...

Saudi foreign reserves fall at fastest in at least two decades Saudi foreign reserves fall at fastest in at least two decades

Oil markets have been scuffling with drying demand because of coronavirus-induced shutdowns, nonetheless-ample provides and most significantly, storage disaster. Al-Jadaan said the deficit may reach nine per cent of the GDP, but some analysts expect ...

France enters coronavirus -driven recession with biggest drop in GDP since 1949 France enters coronavirus -driven recession with biggest drop in GDP since 1949

Spain and Italy will also publish GDP figures on Thursday and they are estimated to have suffered even sharper declines, as they are the two worst-hit countries by the pandemic. Still, the severity of the coronavirus-induced downturn will be reflecte...

30 million Americans have filed for unemployment since the COVID-19 outbreak 30 million Americans have filed for unemployment since the COVID-19 outbreak

Department of Labor. That's a 67% jump from the previous week's total. They will be allowed to begin filing applications on Friday. The report for the week ended April 25 showed a decline in the number of people applying for jobless benefits, but t...

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