Oil prices rose on Thursday to their highest since March, as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, offsetting fears over the economic fallout from the COVID-19 epidemic.
Asian shares and Wall Street futures stepped back on Thursday as resurgent concerns about the long-term impact of the coronavirus outbreak offset some of this week’s earlier enthusiasm about economies re-opening.
Against the backdrop of a global pandemic, steep recession, intensifying U.S-China tensions and rising protectionism, the WTO needs to name a leader. Only the resilient should apply.
(Bloomberg) — U.S. and European futures retreated and the dollar advanced with Treasuries as deteriorating Sino-American ties cast a cloud over the recent rally in risk assets.Asian shares also dipped, in thin trading Thursday. China’s offshore yuan held steady despite the greenback’s gains, on the eve of the biggest Chinese political gathering of the year. The U.S. Senate passed a bill that could bar some Chinese companies from listing on American exchanges, while President Donald Trump tweeted criticism of China’s leadership. Elsewhere, crude oil saw modest gains.Investors have been whipsawed by conflicting news regarding a possible vaccine for the virus, …read more […]
Intel (INTC) has announced that it is acquiring Rivet Networks, a leader in software and cloud-based technologies for networking connectivity. This includes the popular “Killer” line of gaming networking cards.Intel and Rivet Networks have now partnered to build the Killer AX1650 Wi-Fi solution, which Intel says will deliver immersive entertainment and gaming experiences along with powerful Wi-Fi 6 technology.According to Intel, Rivet Networks’ capabilities, including its software, are complementary to Intel’s wireless products and capabilities.“Rivet Networks’ products deliver speed, intelligence and control for gamers and performance users. Its products maximize Wi-Fi bandwidth utilization and optimize the wireless network connection on …read more […]
Oil prices advanced on Thursday as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day. U.S. West Texas Intermediate (WTI) crude futures for July were up 20 cents, or 0.6%, at $33.69 a barrel, extending its gains into a sixth straight session. …read more […]
Schlumberger, the world’s largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year’s historic decline in the oil industry, according to a memo to employees.
Millions more Americans likely filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.
Asian shares stepped back slightly and U.S. stock futures fell on Thursday as lingering caution about the long-term impact of the coronavirus outbreak offset some of this week’s enthusiasm over re-opening of economies.
(Bloomberg) — In early March, before the coronavirus pandemic triggered a global economic lockdown, SoftBank Group Corp. founder Masayoshi Son paid tribute to Rajeev Misra, the man who runs his $100 billion technology investment fund. Wearing a $70 Uniqlo down jacket, the Japanese billionaire put his arm around Misra’s shoulders at a town hall meeting in San Carlos, California. He said he would never forget the help Misra provided when he was at Deutsche Bank AG more than a decade earlier and spoke of the trust and respect they had developed since, according to a summary shared internally. “We are …read more […]
Retailer Canada Goose Holdings Inc said on Wednesday it has laid off 125 workers, about 2.5% of its global workforce, as part of steps to cope with the impact of COVID-19 on its business.
The moves comes as tensions rise between Washington and Beijing over the coronavirus pandemic. …read more […]
Canada Goose Holdings Inc has laid off about 125 workers, as the COVID-19 pandemic saps demand for the company’s luxury parkas, the Wall Street Journal reported on Wednesday.
Japan is closely communicating with relevant U.S. authorities following the U.S. arrest of two men on charges they enabled former Nissan Motor Co chairman Carlos Ghosn to escape from Japan last year, a Japanese government source said on Thursday.
Nissan Motor Co said on Thursday it still reserves the right to take further legal measures in the case of its ousted former Chairman Carlos Ghosn, after the United States arrested two men on charges they enabled his escape from Japan.
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