Money


USA oil futures continue to tread in negative territory, Brent plunges USA oil futures continue to tread in negative territory, Brent plunges
- April 22, 2020

But it had recovered to stand at $19.72, up 39 cents or 2%, this afternoon. In astonishing scenes last night, the cost of a barrel of USA oil for delivery in May slumped to MINUS $40 per barrel. But in a development that raises doubt over a formal US supply cut, two of three Texas regulators on Tuesday, delayed a vote to force producers to curtail output. (more...)
Wall Street drops as oil traders can not give away United States crude Wall Street drops as oil traders can not give away United States crude
- April 22, 2020

The benchmark S&P 500 index has climbed over 25% from a March low, powered by trillions of dollars in stimulus, but still remained almost 17% below its record high as entire countries shut down to try to contain the virus. The US dollar rose against a basket of currencies as investors sought the safety of the world's most liquid currency in a risk averse market. The losses follow a historic decline of oil prices on Monday . (more...)
Inflation Rate Rises to 12.26 in March Inflation Rate Rises to 12.26 in March
- April 22, 2020

The statististical agency said the inflation rate for food and non-alcoholic beverages was slightly higher than the overall inflation, at 4.2% year-on-year. The report did not consider the lockdown in Abuja, Lagos and Ogun states as well as major disruptions in normal economic activity in several states which started only in April. (more...)
Negative oil futures don't reflect real price, financial crisis unlikely Negative oil futures don't reflect real price, financial crisis unlikely
- April 22, 2020

Fuel demand is down due to COVID-19 and storage facilities are at or near capacity. Oil is a "dangerous market to trade in right now", said Pierre Andurand, founder of Andurand Capital Management LLP, in a Bloomberg TV interview. WTI for June dropped 43% to $11.57 a barrel in NY. Brent crude , the global benchmark, was changing hands at $25.40 a barrel for June delivery, down 0.16 percent. (more...)
Virgin in administration, freezes Velocity Virgin in administration, freezes Velocity
- April 22, 2020

It has been reported that the carrier is asking for up to £500 million of public money. The Government remains committed to two commercially viable airlines operating domestically across Australia. "I know that we have a lot of sponsorships as well in other sports and we'll be looking at all of those as we go forward through the administration", he said. (more...)
Sensex, Nifty end flat; Hindalco, Axis Bank among top losers
- April 22, 2020

The death toll due to the pandemic rose to 590, while the number of cases in the country climbed to 18,601. "After the U.S. crude oil crash, Indian markets, in sync with global markets traded negatively, as the extent of the impact of lockdowns and the global slowdown is becoming evident". (more...)
Bondi beach to reopen after council relaxes coronavirus restrictions Bondi beach to reopen after council relaxes coronavirus restrictions
- April 22, 2020

Elsewhere in Sydney, Manly and Dee Why are now closed until at least tomorrow, Tuesday, April 21, but other northern beaches spots are open for exercise only with some lifeguard patrolling - check here for the most recent updates . . Ms Masselos urged non-residents not to visit Bondi, saying the beach corridors would close if demand was too high. "People must maintain 1.5 metres between each other, limit groups to two people and move on once they have completed their exercise", the ... (more...)
Hyundai Veloster N receives new 8-speed DCT Hyundai Veloster N receives new 8-speed DCT
- April 22, 2020

Peak twisting force, however, has been increased from 353 N.m to 377 N.m under something the company calls "N Grin Shift", which allows for turbocharger overboost and "maximises transmission response" for 20 seconds. The updated Hyundai Veloster N comes fitted with an enlarged eight-inch infotainment system and a JBL premium audio system. Another programmed enhancement with the new transmission instructs the Veloster N to use engine braking when going downhill. (more...)
Stocks open lower as oil market continues to crumble Stocks open lower as oil market continues to crumble
- April 22, 2020

The Dow Jones Industrial Average fell 492.98 points, or 2.08%, to 23,157.46, the S&P 500 lost 68.45 points, or 2.42%, to 2,754.71 and the Nasdaq Composite dropped 209.60 points, or 2.45%, to 8,351.13. Exxon Mobil Corp shed 3.9 percent in premarket trading and Chevron Corp slipped 3.6 percent as the front month May WTI contracts continued to trade below $0 on Tuesday. (more...)
Trump Orders Plan To Fund US Oil Firms After Record Low Prices Trump Orders Plan To Fund US Oil Firms After Record Low Prices
- April 22, 2020

Trump did not specify how much money would be made available, or which companies would receive it. On Tuesday the losses spread to the next month - highlighting the massive glut in the market causing the rout rather than any technical quirk. (more...)
Stocks open sharply lower amid pressure on oil market
- April 22, 2020

Stocks in the S&P 500 energy index have sunk 45% since January. Collapsing demand for fuel due to the pandemic has created a glut of oil , with storage capacity running short. Merchants are as yet paying about $20 per barrel for USA oil to be conveyed in June. Brent crude, the worldwide oil standard, fell 23.3% to $19.61 per barrel. (more...)
Audi A3 packs 48-volt mild hybrid system, supposedly coupe-like styling Audi A3 packs 48-volt mild hybrid system, supposedly coupe-like styling
- April 22, 2020

The wheelbase remains unchanged at 2636mm. As a result of these changes and the lower position of the driver seat, the compact sedan is said to offer 20 mm (0.8 in) more headroom in the front and some more elbow room. The new model, slated to hit European showrooms this summer, is new from the ground up and packs all-new tech and powertrains in a sleeker, roomier package. (more...)
'Historic day' as oil futures turn negative; TSX rises slightly 'Historic day' as oil futures turn negative; TSX rises slightly
- April 21, 2020

The Dow Jones Industrial Average dropped 2.44 per cent to end at 23,650.44 points, while the S&P 500 lost 1.79 per cent to 2,823.16. Currie said the sector didn't fall even further because of comments over the weekend from the Canadian government vowing to help the embattled industry. (more...)
IKEA just released its famous Swedish meatball recipe | Dished IKEA just released its famous Swedish meatball recipe | Dished
- April 21, 2020

In true Ikea style, the 76-year-old company released the recipe on Twitter as a series of line sketches showing each step of the meatballs' preparation, although in a departure from its assembly instructions, the pictures are accompanied by words. (more...)
Oil prices fall after producers agree to cut production Oil prices fall after producers agree to cut production
- April 21, 2020

Riyadh increased its debt ceiling to 50 percent of GDP from a previous 30 percent in March. AxiCorp global market strategist Stephen Innes said the oil producers' deal "failed to address the immediate structural oversupply, leaving oil prices vulnerable". (more...)
Sen. Kelly Loeffler and NYSE hubby to liquidate stock amid trading furor Sen. Kelly Loeffler and NYSE hubby to liquidate stock amid trading furor
- April 21, 2020

We don't direct trading in these accounts. In an effort to move past "these distractions", Loeffler said the couple's holdings would be converted. But they also sold hundreds of thousands of dollars in shares of Facebook, DocuSign and other companies that might stand to benefit from a shift in public behavior. (more...)
McDonald's Suspends All Operations in Singapore After Seven Employees Test Positive McDonald's Suspends All Operations in Singapore After Seven Employees Test Positive
- April 21, 2020

The restaurant had, from Saturday, suspended its walk-in takeaway service. The closure which not only affects store operations but McDelivery and Drive-thru services as well was done as a precautionary measure to protect employee and customer safety. (more...)
What does it mean for oil prices to be negative? What does it mean for oil prices to be negative?
- April 21, 2020

Negative oil prices are a sign that producers are willing to pay people to take oil off their hands. Oil extraction on the sea around Sakhalin Island, Russia. Crucial June futures contracts were trading below $24 a barrel Tuesday morning, 12% down on prices seen last week. The US, these days an exporter itself through shale oil, will suffer in the same way as traditional exporters in the Middle East. (more...)
Over a million United Kingdom workers furloughed due to coronavirus Over a million United Kingdom workers furloughed due to coronavirus
- April 21, 2020

The Chancellor also thanked the staff at the Treasury and HMRC who helped set up the system. But Sunak said on Tuesday he was not persuaded, and that Britain's overall support package for businesses - including the wage support programme - was more generous than most other countries'. (more...)
Bloodbath in USA oil market Bloodbath in USA oil market
- April 21, 2020

Oil prices have plunged as the coronavirus continues to infect more people globally, prompting stay-at-home directives and travel bans that have led to a collapse in consumption. The Dow Jones industrial average closed down 592 points, 2.4 percent, to finish the day at 23,650.44. The tech-heavy Nasdaq slid 89 points, or 1.0 percent, to 8,560.73. (more...)

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