Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world. The market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with the Organization of the Petroleum Exporting Countries (OPEC) and other leading producers, a grouping known as OPEC+. "There's definitely a feeling those cuts have come through as well as you could expect," said Daniel Hynes, senior commodity strategist at Australia and New Zealand Banking Group.
Futures jumped on Memorial Day, as the coronavirus stock market rally roars. Apple, Tesla and AMD are near buy points.
GT Gold Corp. (GTT.V) (the “Company” or “GT Gold”) reports its audited financial results for the quarter ended March 31, 2020. Copies of both the Financial Statements and the Management’s Discussion & Analysis may be obtained on the Company’s website at www.gtgoldcorp.ca or under the Company profile on SEDAR. March 31, 2020: The Company completed the work required to develop a well-constrained geological model of the Saddle North gold-rich copper porphyry in northern British Columbia.
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The mineral cosmetics market size has the potential to grow by USD 650.33 million during 2020-2024
New York, May 25, 2020 -- Reportlinker.com announces the release of the report "Global Vegan Ice Cream Market 2020-2024" -.
Sunny Cheung has been the CEO of Telecom Digital Holdings Limited (HKG:6033) since 2015. This analysis aims first to...
(Bloomberg) -- Dominic Cummings, one of Boris Johnson’s closest allies, refused to quit his job in the U.K. government, refuting claims he flouted lockdown rules that he had helped to draft. Germany agreed on a 9 billion euro ($9.8 billion) bailout for virus-hit airline Lufthansa.Japan ended its state of emergency everywhere in the country and made reviving the economy its top priority. Singapore is set to unveil a fourth stimulus package.The World Health Organization temporarily halted tests on hydroxychloroquine in its Covid-19 drug trials pending more data because of safety concerns.Key Developments:Virus Tracker: Cases top 5.4 million; deaths over 346,000Spaniards in face masks return to Madrid’s bars as crisis easesGermany to take Lufthansa stake in landmark $9.8 billion bailoutJohnson aide refuses to quit over claim he breached lockdownWHO’s hydroxychloroquine trial suspended pending safety dataSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week’s top stories from QuickTake, click here.China Reports 7 New Cases, All From Abroad (8:29 a.m. HK)China reported seven additional coronavirus cases by the end of May 25, with all of them from abroad, according to a statement from the National Health Commission. Of the seven cases, five were reported in Inner Mongolia.The country also reported 29 asymptomatic cases, with one of them from abroad. It had no coronavirus deaths for May 25.Singapore Slashes Growth Target With 7% Contraction Possible (8:01 a.m. HK)Singapore’s economy will probably contract 4% to 7% this year as the coronavirus outbreak and measures to contain it pummel the trade-reliant city state.The government revised its forecast from a previous projection for a contraction of 1% to 4% as the outlook for external demand deteriorates, the Ministry of Trade and Industry said in a statment.“There continues to be a significant degree of uncertainty over the length and severity of the Covid-19 outbreak, as well as the trajectory of the economic recovery, in both the global and Singapore economies,” the MTI said.Deputy Prime Minister Heng Swee Keat is set to unveil a fourth stimulus package in Parliament later Tuesday to further counter the economic pain.U.S. Resets Brazil Travel Limit (6:40 a.m. HK)The Trump administration advanced the effective time for limiting the entry of non-U.S. citizens traveling from Brazil, a nation that has the world’s second-most infections. The order will take effect at the end of Tuesday, two days earlier than stated in a proclamation issued Sunday by the White House.Air New Zealand Forecasts Loss (6:30 a.m. HK)Air New Zealand forecast its first full-year loss in 18 years as the pandemic halts travel, grounds aircraft and forces the layoff as many as 4,000 workers.The carrier will post an underlying loss in the year ending June 30 but can’t provide a range, it said Tuesday in Wellington. The airline will post an impairment charge on aircraft of at least NZ$350 million ($213 million), restructuring costs of as much as NZ$160 million and losses on fuel hedges of as much as NZ$105 million, it said.Airlines are reeling from the impact of the pandemic, forcing them to review fleets, routes and spending and seek government help. Germany on Monday offered Deutsche Lufthansa AG a $9.8 billion bailout. Air New Zealand agreed a NZ$900 million debt facility with the government in March.U.S. Says 200 Million Tests Possible (5:55 p.m. NY)The Trump administration said sufficient quantities of Abbott Laboratories’ ID NOW Covid-19 test and Quidel Corp.’s Sofia 2 instruments exist to support 200 million U.S. tests per month.The Department of Health and Human Services, in a report to Congress, said 18,000 ID NOW devices and 20,000 Quidel instruments are available to states. The U.S. also is buying 100 million swabs and 100 million tubes of viral transport media to help states meet testing goals.“This large-scale acquisition reflects a significant expansion of current capacity,” according to the report, and reflects use of the Defense Production Act to increase swab manufacturing.Minneapolis Mayor Worried by Church Rules (5:30 p.m. NY)Minneapolis Mayor Jacob Frey said he is concerned by Minnesota state guidelines taking effect on Wednesday that let churches resume services, with limits on attendance and requirements to follow social-distancing measures.“A move up to 25% capacity and up to 250 people in places of worship is a recipe in Minneapolis for a public health disaster,” Frey said Monday on CNN. “That is not the route that we can or should be going on right now.”Novavax Starts Vaccine Study (4:35 p.m. NY)Novavax Inc. began human testing of its coronavirus vaccine candidate and anticipates providing a first look in July at what sort of immune responses are generated.In the first phase, 130 healthy adult volunteers at two sites in Australia will get two doses of NVX-CoV2373, the biotech’s experimental vaccine. If initial results look promising, the company plans to quickly move into the second phase -- expand testing to other countries and age groups outside of 18 to 59.The Gaithersburg, Maryland-based company is one of about 10 that are testing vaccines, according to the World Health Organization. Moderna Inc. reported the first Covid-19 vaccine results in humans last week.U.S. Cases Rose 1.3%, Less Than Week’s Average (4 p.m. NY)U.S. cases increased 1.3% from the same time Sunday to 1.65 million, according to data collected by Johns Hopkins University and Bloomberg News. The increase was below the average daily increase of 1.4% over the past week, and has the same for three days.Deaths rose less than 1% to 97,948 from 97,424 -- the smallest one-day increase in more than a week.New York had 1,249 cases, bringing the total to 362,764, and 97 deaths, for a total of 23,488, the health department said.New Jersey had 965 cases, for a total of 155,092, with 16 deaths, for a total of 11,144, Governor Phil Murphy said.Illinois reported 1,713 cases, for a total of 112,017, with 31 deaths, for a total of 4,884.California cases rose 1,848, or 2%, for a total of 94,558, while 21 deaths were added, a 0.6% rise, to 3,795.Pennsylvania added 473 cases, for a total to 68,186, and 15 deaths for a total of 5,139, the health department reported.Michigan reported 202 new cases for a total of 54,881, with 12 additional deaths for a total of 5,240.Connecticut added 405 cases, for a total of 40,873, with 49 new deaths, for a total of 2,742, Governor Ned Lamont said.California Sets Church Limits (3:45 p.m. NY)California will limit attendance in houses of worship to 25% of building capacity or 100 people and is discouraging choir singing, group recitations and passing of the collection plate.“Convening in a congregational setting of multiple different households to practice a personal faith carries a relatively higher risk for widespread transmission of the Covid-19 virus, and may result in increased rates of infection, hospitalization, and death, especially among more vulnerable populations,” according to the guidance.The state is also discouraging potlucks or similar family-style eating and drinking events that increase the risk of cross contamination.Denmark Funding Needs Triple (3:10 p.m. NY)Denmark needs more than $40 billion in financing -- more than triple its previous estimate -- to help pay for an historic set of emergency measures to fight the pandemic. The government will need to tap bond markets and its account at the central bank to generate the needed 294 billion kroner ($43 billion), the Finance Ministry said.AAA-rated Denmark has so far been able to tap markets at historically low rates. Its benchmark 10-year bond trades at a negative yield, and its entire yield curve up to 20 years traded below zero not that long ago.England to Reopen Showrooms, Stores (2:50 p.m. NY)England’s outdoor markets and car showrooms can reopen from June 1, as soon as they can meet guidelines to protect shoppers and workers, Prime Minister Boris Johnson said as he urged the public to spend money in stores when the curbs are lifted.All other non-essential outlets including shops selling clothes, shoes, toys, furniture, books and electronics, plus tailors, auction houses, photography studios and indoor markets, are on track to reopen June 15 if the government can control the spread of the virus, Johnson told a daily news conference. Scotland, Wales and Northern Ireland are on a different timetable determined by local administrations.U.K. cases rose to 261,184. The government reported 121 new deaths, up from 118 a day earlier, bringing the total to 36,914.Dubai to Ease Limits Wednesday (2:20 p.m. NY)The emirate of Dubai will resume economic activities and ease lockdown restrictions starting Wednesday, the emirate’s media office said in a statement.Travel will be allowed from 6 a.m. to 11 p.m. local time. The airport will operate only for residents leaving Dubai, some clinics will reopen and elective surgeries that take up to 2 1/2 hours will be allowed, the statement said.Training academies, indoor sport venues, gyms and movie theaters will be open with social distancing in place.ECB’s Villeroy: More Stimulus Probable (1:30 p.m. NY)A key European Central Bank policy maker signaled the institution is very likely to boost its emergency bond-buying program to fight the pandemic.With inflation low, there is room to innovate and act “rapidly and powerfully,” Bank of France Governor Francois Villeroy de Galhau said in Paris. He also signaled he’d like more loosening of limits on the 750 billion-euro ($817 billion) plan.The ECB’s next policy meeting is June 4 and economists are increasingly forecasting that the central bank will use that session to add more stimulus.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Three health charities have been given a much-needed boost at a time when the charity sector, which relies heavily on income from public events and other in-person fundraising initiatives, is being impacted by the COVID-19 pandemic. Starlight Children's Foundation, Ovarian Cancer Research Foundation and Prostate Cancer Foundation of Australia have received almost $110,000 in donations from AFT Pharmaceuticals as a result of a fundraising drive to support vulnerable Aussies and get people talking about health.
Could Sinotrans Limited (HKG:598) be an attractive dividend share to own for the long haul? Investors are often drawn...
Australia's largest Phase 1 Clinical trials specialist, Nucleus Network, has today commenced dosing the first human participants for the Phase 1/2 trial of NVX‑CoV2373, a SARS-CoV-2 Recombinant Spike Protein Nanoparticle vaccine, at its Melbourne clinic.
New York, May 25, 2020 -- Reportlinker.com announces the release of the report "Global Desalination Market 2020-2024" - https://www.reportlinker.com/p05439276/?utm_source=GNW.
Today we'll evaluate Sun.King Power Electronics Group Limited (HKG:580) to determine whether it could have potential...
(Bloomberg) -- Fears that capital will flee Hong Kong are visible just about everywhere in the city’s financial markets, yet the currency remains resistant for now.Speculators are betting on significant depreciation with derivatives, sending a measure of bearishness to near its highest level of the year. Volume on Hong Kong dollar options soared to $3.7 billion on Friday, with a third of the trades betting the pegged currency would hit or break the weak end of its trading band.Conviction that turbulence will get worse is also evident in the swaps market, where the spread between local and U.S. rates reached levels last seen in the 1990s. One-year forward points closed at the highest since 1999, suggesting a spike in demand to hedge against depreciation in the currency, which remains close to the strong end of its trading band against the greenback.The sudden bearishness is crashing against the city’s elevated borrowing costs, which have kept the long Hong Kong dollar carry trade profitable since November. Liquidity in the financial system remains relatively tight for now, keeping the city’s interbank rates wide versus those in the U.S. Plans from some of China’s biggest companies to sell shares in Hong Kong in June should make that more pronounced by increasing the demand for cash.Hong Kong is the epicenter of escalating U.S.-China tensions following Beijing’s shock decision last week to impose a law to curb dissent in the city. That stoked the Hong Kong dollar’s biggest drop in six weeks and the worst stock rout since 2008. The Trump administration is considering responses that could include revoking Hong Kong’s special trade status, a risk that threatens to undermine the city’s standing as a global financial hub.The key question is how the Hong Kong dollar’s yield advantage over the greenback can act as a support for the currency.“Some capital inflows chasing new listings in the city could offset some fund outflows this quarter,” said Ken Cheung, chief Asian currency strategist at Mizuho Bank Ltd. “However, the main risk is how the U.S. will deal with Hong Kong’s special status.”The Hong Kong dollar’s recent strength was upended last week as China confirmed it would effectively bypass the city’s legislature to implement its controversial national security laws, which critics say will erode freedoms of speech, assembly and the press. The currency had traded near the strong side of its narrow band since April largely thanks to a popular trade where hedge funds sold the greenback for the city’s higher-yielding dollars.As long as that strategy remains profitable and popular, weakness in the currency will be limited. Share sales from NetEase Inc. and JD.com Inc. in June will mop up liquidity as traders set aside funds to buy stock, driving up borrowing costs in Hong Kong. The premium between one-month Hibor and the U.S. equivalent is near the widest since 1999, meaning traders will still lose money if they sell the city’s currency against the greenback.June will also be a month when local banks hoard cash to meet quarter-end regulatory checks, driving up demand for Hong Kong dollars. Listed Chinese companies will buy the city’s currency to pay dividends in the summer, also pushing up interest rates. The Hong Kong dollar traded 32 pips from the strong end on Tuesday, down from 78 pips last week.That delicate balance will depend in part on how the U.S. responds to China’s actions.“Investors have been quite concerned with capital outflows,” said Carie Li, an economist at OCBC Wing Hang Bank Ltd. “We haven’t seen signs of that yet and I don’t think Hong Kong will see massive fund exodus unless the U.S. makes an extreme response to the law. The panic will likely last for one to two weeks.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Asian shares crept ahead on Tuesday following an upbeat session in Europe and further gains in U.S. stock futures as investors looked past Sino-U.S. trade tensions to a re-opening world economy. Japan's Nikkei <.N225> led the way with a rise of 1% to its highest since early March when the economic impact of the coronavirus was just becoming clear. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> added 0.1% in early trade, while South Korea <.KS11> rose 0.4%.
While Mitchell Services Limited (ASX:MSV) shareholders are probably generally happy, the stock hasn't had particularly...
French tire maker Michelin resumed operations at its two plants in Mexico on Monday, saying that activity will be staggered at first. The Mexican government's decision to classify the automotive industry as an essential activity made it possible to restart operations, Michelin said in a statement. The company, which reported an 8.3% drop in first-quarter sales worldwide, said it will resume operations in Mexico "based on production demand."
China reported 7 new confirmed coronavirus cases in the mainland as of end-May 25, up from 11 a day earlier, the National Health Commission reported. The commission said in a statement all of the new infections were imported cases, involving travellers from overseas. The total number of cases to date in the mainland stands at 82,992.
Asian shares crept ahead on Tuesday following an upbeat session in Europe and further gains in U.S. stock futures as investors looked past Sino-U.S. trade tensions to a re-opening world economy. Japan's Nikkei led the way with a rise of 1% to its highest since early March when the economic impact of the coronavirus was just becoming clear. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% in early trade, while South Korea rose 0.4%.
(Bloomberg) -- Singapore’s economy probably will contract 4% to 7% this year as the coronavirus outbreak and measures to contain it pummel the trade-reliant city state.The government revised its forecast from a previous projection of a 1%-4% contraction as the outlook for external demand deteriorates, the Ministry of Trade and Industry said in a statement Tuesday.“There continues to be a significant degree of uncertainty over the length and severity of the Covid-19 outbreak, as well as the trajectory of the economic recovery, in both the global and Singapore economies,” the MTI said.As one of the world’s most open economies, Singapore has been severely hit by the slump in global trade and travel amid the coronavirus outbreak. Deputy Prime Minister Heng Swee Keat is set to unveil a fourth stimulus package in Parliament later Tuesday to further counter the economic pain.Singapore will begin easing “circuit breaker” restrictions on residents’ movement from June, to be replaced by a three-phase system to further reopen the economy. The city state has experienced a surge in virus cases among the migrant-worker community, while the daily case count among locals has hovered in single digits for most of the past month.Gabriel Lim, permanent secretary for the Ministry of Trade & Industry, said the movement restrictions have hurt domestic activity.“How the Singapore economy performs in the second half of 2020 will depend in part on whether we are able to continue to contain the domestic outbreak after we emerge from the circuit breaker period,” he said in an online briefing to reporters.The Singapore dollar was little changed at S$1.4242 against the U.S. dollar as of 8:10 a.m. local time.“The lifting of the circuit breaker is very slow,” which likely means the “recovery may not come until the fourth quarter,” said Frances Cheung, head of Asia macro strategy at Westpac Banking Corp. in SingaporeThe MTI also published final estimates for the first quarter, which showed gross domestic product declined an annualized 4.7% from the previous three months, far better than the 10.6% drop estimated earlier. That was mainly due to growth in pharmaceuticals manufacturing, which helped offset the slump in electronics, the data showed.The gloomy outlook for Singapore follows downbeat news on growth elsewhere in the region over the past week. China abandoned an annual growth target for 2020 and pledged more stimulus, especially targeting employment. Japan saw consumer prices decline in April for the first time in more than three years, while India’s central bank expects GDP to contract for the first time in more than four decades.Other DetailsGDP contracted 0.7% in the first quarter from a year earlier, better than the 1.6% decline in a Bloomberg survey of economistsManufacturing surged an annualized 37.3% in the first quarter from the previous three months, services plunged 13.3%, and construction contracted 21.8%In a separate report, Enterprise Singapore said non-oil domestic exports will probably contract 1% to 4% in 2020(Updates with comments from MTI and analyst starting in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Audi Formula E driver Daniel Abt was disqualified and ordered to pay 10,000 euros ($10,900.00) to charity on Sunday for getting a professional gamer to compete under his name in an official esports race. Pro gamer Lorenz Hoerzing, Abt's ringer, was disqualified from all future rounds of the separate Challenge Grid competition. The 15-lap race around a virtual Berlin Tempelhof track was won by Britain's Oliver Rowland for Nissan e.dams with Belgian Stoffel Vandoorne second for Mercedes.
New York, May 25, 2020 -- Reportlinker.com announces the release of the report "Global Flow Diversion Aneurysm Treatment Market 2020-2024" -.