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Dow Falls Over 900 Points as Coronavirus Cases Surge and Lockdowns Loom

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Oil rebounds as traders weigh output cut deal

US President Donald Trump said Monday that the actual output cuts may be deeper than the headline figure of 9.7 million bpd - with top producers considering sla...

Oil industry facing 'Black April' after price crash

The dire state of the market was laid out in detail on Wednesday by the International Energy Agency. Global demand will drop by more than 9 million barrels a ...

UK urged to stop China taking control of Imagination Tech

The former CEO of Imagination Technologies, Sir Hossein Yassaie, had also urged ministers at the Department for Digital, Culture, Media and Sport to intervene i...

Canadian, U.S. markets fall on OPEC cuts after posting strong week

Seven of the 12 TSX subgroups closed in the red with real-estate down 3.6%, health-care ailing 2.7%, and consumer discretionary stocks sliding 2.5%. All four ...

Wild stock market swings continue as Dow falls 1,467 points

The S&P 500 and Nasdaq were both down by roughly five per cent each. After days of wild fluctuations, the Dow has now fallen 20% from its most recent highs - fi...

United States retail sales plunge unprecedented 8.7% in March

There were major declines in most areas of the March report with one bright spot - grocery stores saw a jump in sales as people stocked up during lockdowns. B...

Google recommends all North America employees to work from home

Google seems to be one of the first big tech firms to issue a call for all North American staff to work from home , and it remains to be seen whether rivals wi...

Insurers told to speed up virus payouts

The UK is in lockdown to try to contain the pandemic, with many companies shuttered and millions of people furloughed as the country heads for a deep recession....

Retail sales plunge a record 8.7 percent in March

Receipts at furniture stores collapsed 26.8% and spending at sporting goods, hobby, musical instrument and book stores plunged 23.3%. Percent change in retail...

International Monetary Fund predicts worst economic downturn since Great Depression

The initiative accommodates all International Development Association-countries that are now on any debt service plan to the International Monetary Fund and the...

One-in-nine United Kingdom mortgage holders taking payment holidays

The number of mortgage payment holidays more than tripled in the two weeks between 25 March and 8 April, growing from 392,130. While mortgages will still accr...

US Stock Futures Drop Following Gains in Previous Session

The flight from risky assets also hit Treasury yields. Canada's main stock index gave up some of its recent gains as it fell in late-morning trading, hurt by ...

RITA tax filing deadline extended to July 15

The coronavirus pandemic, however, has delayed that deadline until July 15. The RITA extension applies to individual taxpayers, as well as business net-profit...

Fuel prices to drop by upto Sh18 starting midnight today

In comparison, kerosene experienced a 37.70 percent decrease from $421.24 per cubic metre to $ 262.44 per cubic metre during the same period. "Accordingly, th...

Best Buy to furlough 51,000 hourly workers amid coronavirus pandemic

Best Buy, however, would retain about 82 percent of its full-time store and field employees. Starting Sunday, Best Buy said it will furlough almost all of its...

New Trump team to explore path to reopening USA economy

Public health officials needed to be able to test for the virus quickly and to isolate new cases and track down new infections, before social distancing and oth...

Jeff Bezos' Fortune Takes Big Jump Thanks to COVID-19

Bezos currently owns an 11.2 per cent stake in Amazon , with a net worth at $138 billion now. According to the American financial and economic magazine Forb...

State insurance commissioner orders companies to refund premiums to drivers, businesses

They should come in the form of a premium credit, reduction, return or some other form of adjustment, the insurance commissioner's office said. "Risk is dimin...

Canadian GDP contracts 9% in March as pandemic upends economy

However, last week's Labour Force Survey provided an early indication of the swift downturn resulting from COVID-19, with roughly 1 million people losing their ...

Huawei’s Open Letter Warns About Disrupting its Involvement in The UK’s 5G

His criticism follows a letter yesterday by Huawei's United Kingdom chief Victor Zhang in which he accused its detractors of failing to present any evidence to ...

European shares jump on China trade data, coronavirus hopes

Beijing announced Tuesday that its global exports fell 11.4% in the first three months of 2020 compared to a year earlier, as measured in Chinese currency terms...

Amazon will hire 75000 more workers to meet pandemic demand

Amazon also reportedly deleted an invite to a webcast the Amazon Employees for Climate Justice sent on Friday inviting workers to hear from warehouse worker...

There Is Still Hope For Oil Prices

During a call between G20 nations last week, US Energy Secretary Dan Brouillette said in his opening remarks that he expects US production to fall off by nearly...

Malaysia says welcomes OPEC+ pact to cut crude oil output

Global oil producers have already agreed on the world's largest ever production cut, but US President Donald Trump has said that cut may soon be doubled, to b...

Coronavirus pandemic to cost global airlines $314 BILLION in revenue - IATA

Revenues will be US$314 billion (NZ$514 billion) below previous year, the association said - a significantly worse forecast than IATA's estimate last month of...

Coronavirus crisis: Scott Morrison calls for schools to remain open

Schools have become a major area of debate during the coronavirus outbreak. "The expert medical advice throughout the coronavirus to date has not changed when...

Stocks open higher as banks report results

Giant technology stocks earlier pushed the Nasdaq 100 through its 50, 100 and 200-day moving averages. The yield on 10-year Treasuries fell two basis points t...

GlaxoSmithKline : Sanofi Join Forces to Develop Coronavirus Vaccine

The drugmakers mentioned they plan to get started human trials in the second one part of this yr, with the objective of getting a vaccine to be had through the ...

Kia wants to suspend production in Korea due to low demand

In a statement on Monday, South Korean labour union said that Kia Motors Corp (KRW:000270) plans on temporarily shutting down 3 of its domestic production facil...

Donald Trump calls urgent G7 meeting on coronavirus: What will they discuss?

But a threat on Monday to invoke his "total" power to force state governors to follow his directives on reopening prompted an outcry. NY hospitalisations have...