Business

by | April 24, 2020 | 01:42

Treasury Secretary Steven T. Mnuchin said earlier in the week that more than a million companies with fewer than 10 employees have gotten loans, but that he was pleased to see Shake Shack announce it would return the money. The Small Business Administration (SBA), which administers the government-backed loans, must retool its online loan application system, which experienced repeated problems and outages over the two weeks the plan operated, to accommodate PPP changes that the administration ...

by | April 23, 2020 | 01:07

The figure is a sharp deceleration compared to the 2.2 per cent rate seen in February. According to the bureau, the highest increase recorded is on fish, vegetables, fruits, oil and fats, bread and cereals, potatoes, yam as well as other tubers.

by | April 22, 2020 | 02:10

There's no place to put it, so you've got to flush it basically". "They don't want it". The worry for many investors holding this contract was that there was no storage space and they thought better to pay investors for the contract, rather then pay for storage.

by | April 21, 2020 | 01:02

In New York, West Texas Intermediate (WTI) dropped by a staggering 43%, the most since the contract began trading in 1983, to $10.34 a barrel, the weakest level since 1986. The way the global oil market works and prices oil into the future, this foray into negative territory is very unlikely to have an impact on domestic gas prices, De Haan tells me by email.

by | April 18, 2020 | 02:11

In one clinical trial at the University of Chicago School of Medicine, 125 patients suffering from COVID-19 received daily infusions of Remdesivir . Remdesivir has demonstrated a potent ability to inhibit this viral replication in human cells and is now being tried in clinical trials of patients with the SARS-CoV-2 virus, which causes COVID-19.

by | April 17, 2020 | 00:39

The task force did not share the data they used to reach that assessment. Meanwhile, more than 3.3 million COVID-19 tests were completed, which should help researchers develop therapies or deliver an antibody test. But Mr Trump later said that the president has "total authority" on the matter, and on twitter compared the situation to that of a mutiny. "We'll be the comeback kids, all of us", he said.

by | April 16, 2020 | 01:12

The S&P energy sector slumped 7.3% and was on track for its worst day in almost a month as oil prices sank after reports suggested persistent oversupply and collapsing global demand. Stock Index ETFs are following equity markets higher as well, with the SPDR S&P 500 ETF Trust (SPY ) climbing 2.52%, the SPDR Dow Jones Industrial Average ETF (DIA ) rallying 2.27%, and the Invesco QQQ Trust (QQQ ) leading the other stock index ETFs with a 3.93% move higher.

by | April 16, 2020 | 01:46

The state has recorded 730 coronavirus cases and six deaths. On Monday, 57 more workers at a pork processing plant in Sioux Falls tested positive for COVID-19, bringing the total at the plant "well above 300 - and making it one of the country's largest clusters", along with Chicago's Cook County Jail and the USS Theodore Roosevelt, The Washington Post reports .

by | April 15, 2020 | 01:35

Governors Jay Inslee, Kate Brown, and Gavin Newsom announced on Monday a joint vision for reopening their states' economies following the COVID-19 pandemic. Newsom tweeted on Monday that the "West Coast is guided by science". So, people shouldn't get their hopes up that social distancing will be completely gone anytime soon.

by | April 14, 2020 | 02:18

In Halton Region there are now 280 total cases (up 11 from its previous report) with 57 in Burlington, 108 in Oakville, 62 in Milton, and 53 in Halton Hills. Of those 263, the province says that 203 patients are breathing with the assistance of a ventilator. She was tested on April 9, said Public Health in a press release and has since been instructed to self-isolate.

by | April 14, 2020 | 00:52

Almost 500 postal workers have tested positive for the coronavirus and 462 others are presumptive positives, USPS leaders told lawmakers. The USPS needs an infusion of money, and President Trump has blocked potential emergency funding for the agency that employs around 600,000 workers, repeating instead the false claim that higher rates for Internet shipping companies Amazon, FedEx and UPS would right the service's budget.

by | April 14, 2020 | 01:30

He had said oil demand was expected to contract by 6.8 million bpd in 2020 as opposed to a forecast at Opec's meeting in early March of an increase of 100,000 bpd. The group met on Sunday to hammer out a deal. Canada and Norway signalled a willingness to cut. Brent crude futures settled at US$31.48 a barrel on Thursday, while United States crude futures were last at US$22.76 a barrel.

by | April 13, 2020 | 01:52

If the IRS doesn't already have your account information, or if you didn't file taxes in 2018 or 2019, you can submit your information on this website . Getty Who has received a stimulus payment so far? Those payments, according to the official, are anticipated in the coming weeks and will primarily be issued electronically.

by | April 13, 2020 | 00:56

Stay at home and be creative with how you connect and celebrate with family and friends. Failing that, they will be sent to a quarantine facility for the 14-day period. Of that total, 153 are residents and 93 are staff members. The outbreak there has affected 26 people so far. Henry said two cases have been confirmed at the Okanagan Correctional Centre in Oliver.

by | April 11, 2020 | 00:32

Following the meeting, Mexico's Secretary of Energy Rocío Nahle said in a tweet that the country would be willing to cut production by 100,000 barrels per day for the next two months. "The United States in discussions last night with Mexico, Saudi Arabia, Russia and dealing with OPEC nations, we're trying to get Mexico "over the barrel", as the expression goes".

by | April 10, 2020 | 02:08

Italy and the Netherlands clashed over the conditions for Eurozone credit for governments that are fighting the worst of the economic effects caused by the pandemic. Granting the European Funding Financial institution 25 billion euros of additional ensures so it may step up lending to firms by an additional 200 billion euros is an alternative choice.

by | April 09, 2020 | 01:36

Scrambling to secure a bigger market share, Saudi Arabia raised crude output to 12.3 million barrels per day (bpd) on April 1 and said it planned to export more than 10 million bpd. With the two most important players fighting, the 23-country alliance gathering the Saudi-led Organization of the Petroleum Exporting Countries and its Russia-led partners has been forced to push the Monday meeting to either Wednesday or Thursday, according to OPEC delegates.

by | April 09, 2020 | 01:26

Investors could then, finally, envision the other side of the economic shutdown, after authorities forced businesses to halt in hopes of slowing the spread of the virus. "People today don't anticipate that the economy is going to turn back on like a light switch, but rather that it will be a gradual reopening of certain parts of the economy".

by | April 08, 2020 | 00:42

Tesla is taking advantage of components that are familiar, reliable and available, an engineer says in the video. The governor noted that there are parts of ventilators that have to come from other countries. "The problem with ventilator construction is the supply chain", Cuomo told reporters in a press briefing . Coronavirus lockdown: Latest updatesNew York has become the epicentre of the fight against COVID-19, with more than 122,000 cases in the state and 4,159 deaths.

by | April 07, 2020 | 00:35

Amazon has been scrambling to perform damage control amid alarming reports from employees and demands from US lawmakers regarding its lacklustre response to the covid-19 pandemic , but on Thursday the e-commerce giant's PR crisis spiralled even further.

by | April 06, 2020 | 01:11

The country doesn't have a problem with shoppers clearing out dairy cases of milk, or the various other milk products in grocery stores - but it's not making up for the closings of restaurants and schools. He says they are not able yet to project if any milk will have to be dumped next week. Dairy farmers in Nebraska, Iowa, South Dakota and Minnesota this week wrote a letter to USDA requesting an additional enrollment period in the Dairy Margin Coverage program.

by | April 06, 2020 | 01:42

Ryanair has released its traffic statistics for March, revealing that the company's total traffic declined 48% to 5.7 million customers from 10.9 million in March of 2019, with a load factor of 91%. The wider airline industry faces one of the biggest crises in its history, sparking calls for government bailouts in Britain and around the world. He also expects Ryanair to book further exceptional charges stemming from fuel hedging in the first quarter of the financial year which has just ...

by | April 03, 2020 | 01:56

On Wednesday, the 1st of April 2020, both USA and United Kingdom crude futures' prices pummelled following a record surge of U.S. crude inventories last week, while the petroleum demands had faced off its steepest weekly plunge on record .

by | April 03, 2020 | 00:29

The controversy around Beijing's transparency has strained ties, adding to bad feelings triggered by a conspiracy theory in China that the U.S. military was to blame for the virus. US Secretary of State Mike Pompeo has been skeptical of the data coming out of China from the start, repeatedly accusing China of covering up information about its coronavirus cases and of spreading misinformation.

by | April 02, 2020 | 01:55

Instead, the kingdom pushed crude supply to record levels. The Saudis plan to boost oil exports to 10.6 million barrels per day (bpd) from May on lower domestic consumption. The president added that he had "great" talks with both Putin and Crown Prince Mohammed bin Salman about the situation. The global oil industry will be significantly transformed due to the "unparalleled demand destruction" this "apocalyptic" April will bring to the world, a number of experts from the energy industry ...

by | April 02, 2020 | 02:12

Stocks in Japan fell nearly 4%, while Hong Kong shares also dropped. Meanwhile, Australia's ASX 200 gained 3.6%. The Nasdaq Composite dropped 34.09 points, or 0.44%, to 7,740.06 at the opening bell. Upcoming data is likely to confirm damage to the economy, but how much has been priced in by the market remained to be seen. "For that to happen, we need a lot of good luck and serious implementation of economic and health-care policy".

by | April 01, 2020 | 01:09

Pump prices continue to decline around the country as oil prices have decreased significantly in response to the increasing public health, financial and economic impact of COVID-19 and the crude price war between Russian Federation and Saudi Arabia, AAA said.

by | April 01, 2020 | 02:18

The International Air Transport Association predicts airlines around the world will lose US$252 billion in revenue due to the COVID-19 pandemic. "We believe that the temporary nature of these reductions, many achieved through voluntary programs, combined with other mitigation measures, will position us to restore regular operations as soon as the situation improves", said Calin Rovinescu , President and Chief Executive.

by | March 31, 2020 | 00:49

After temporarily closing its stores nationwide in response to COVID-19 outbreak, Macy's today issued a statement saying that they lost the majority of their sales due to the store closures. To survive, it has suspended its dividend, drawn down its line of credit, frozen hiring and spending and canceled orders. Retail store giant Macy's said the coronavirus is causing a "heavy toll" on their business, which has made them had to make a hard choice when it comes to their store employees.

by | March 30, 2020 | 02:12

The Prime Minister also flagged Australian workers who have recently been stood down due to the coronavirus will still be eligible for the federal government's new income support measures when the package is finalised. "Yesterday I had numerous discussions, and the day before, with the Western Australian premier and the health minister had numerous discussions with his counterpart to put in place a very sensible facility program for those who are going off the ship at home, for those who ...

by | March 30, 2020 | 00:46

Ahead of that deadline oil futures finished lower on Friday, as a fears of a surge in surplus oil and a huge drop in global demand sent prices down for a fifth straight week in a row. "It seems market dislocations will happen as producers will start running out of room store crude". "According to industry reports oil storage levels globally have already reached 75 per cent of capacity, and continued stockpiling under closed demand would crash the prices to $10 in the coming months unless ...

by | March 29, 2020 | 01:57

The possible exclusion of cruise companies in the bill came as a shock to some considering U.S. President Donald Trump expressed his desire in previous interviews to help the pillars of the hard-hit travel industry, including cruise lines, airlines and hotels.

by | March 28, 2020 | 02:18

The State of IL is taking additional steps to address the unprecedented volume of unemployment benefit claims the department has fielded as a result of COVID-19. "In 5 days, the DUA received around twice as many new unemployment claims as were filed during the entire worst month of the Great Recession", the Massachusetts Executive Office of Labor said in a tweet .

by | March 28, 2020 | 02:03

For those making less than $75,000, expect to receive a check of $1,200 per adult and $500 per child under the age of 17. Economists say direct payments are one of the most effective ways to generate economic activity because people who get the money tend to spend it quickly.

by | March 27, 2020 | 01:25

Powering the Dow's gains was Boeing Co BA.N , which jumped 13.90% after Chief Executive Dave Calhoun said the planemaker expected the 737 MAX jet to return to service by mid-year. U.S. Treasury Secretary Steven Mnuchin, asked how long the aid would keep the economy afloat, said: "We've anticipated three months". The virus is going to dictate the timetable here, ' he said.