Asian stocks extended gains on Tuesday after China’s trade data came in better than expected and as some countries tried to restart their economy by partly lifting restrictions aimed at curbing the coronavirus outbreak.
The post The Coronavirus Outlook: Better Than Anticipated appeared first on Investment U. …read more […]
Airline industry officials expect all major airlines to accept the grants in coming days, and U.S. Treasury Secretary Steven Mnuchin said on Monday he expects decisions to come out “very quickly.” Brent McIntosh, the Treasury undersecretary for international affairs, told Reuters on Monday the agency was not planning to change the terms laid out on Friday, which require 30% of the funds allotted to each airline to be repaid. The U.S. government would also receive warrants equal to 10% of the loan amount. …read more […]
(Bloomberg) — Gold extended a rally to hit the highest level in more than seven years on concern that the coronavirus pandemic will have a devastating effect on the global economy, hammering corporate earnings while supercharging demand for havens.Bullion has soared as the outbreak tipped economies into recession and spurred central banks and governments to launch unprecedented stimulus. Since getting caught up in a wave of forced selling last month as equities sank, gold has staged a powerful recovery. That means futures are now approaching $1,800 an ounce after trading in the $1,400s less than four weeks ago.Gold traded on …read more […]
Asian stocks bounced on Tuesday on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession.
SoftBank Group Corp shares fell 3.5% on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to the tumbling value of bets on unproven startups.
Oil prices rose on Tuesday after a U.S. agency said shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
Oil prices rose on Tuesday after a U.S. agency said shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers. U.S. West Texas Intermediate (WTI) crude was up 47 cents, or 2.1%, at $22.88, having dropped 1.5% the previous session. With other producers, including the world’s biggest, the United States, reducing output as well, the estimated reduction in production is about 19.5 million bpd. …read more […]
Lucky Strike cigarette maker British American Tobacco is under criminal investigation by U.S. regulators over suspected sanctions-busting, The Times reported https://bit.ly/2ydR5Wm on Tuesday.
The Department of Justice (DoJ) and the Office of Foreign Assets Control, a financial intelligence and enforcement agency that is part of the U.S. Treasury department, are investigating BAT for “suspicions of breach of sanctions”, the newspaper reported, but said it is not clear which country or countries the regulators are focusing on. The DoJ and BAT did not immediately respond to Reuters’ requests for a comment. …read more […]
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global economy for months are likely to temper investor confidence.
SoftBank Group Corp shares were untraded with a glut of sell orders on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to faltering bets on unproven startups.
Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.
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