Oil’s rally, fueled by vaccine progress, is running out of steam
The oil market has rallied almost 40% in the last two months, pushing benchmarks to nine-month highs, in a euphoric response to progress on COVID-19 vaccines that has investors thinking the end of the coronavirus pandemic is in sight. Reality struck back on Monday, however, with a selloff driven by Continue Reading
Norwegian Air Lives to Fly Another Day
Norwegian Air Shuttle (OL:NORR) lives to fly another day. The beleaguered discount airline’s shareholders have overwhelmingly backed a restructuring plan proposed by management that will allow it to keep flying for the immediate future, and maybe hang on until better days return next year. Earlier this month, management had presented a Continue Reading
UK extends COVID furlough programme until end of April
British finance minister Rishi Sunak announced on Thursday that he would extend a job support programme by another month until the end of April, and that businesses would be able to get new COVID loans until the end of March. The news came after Sunak said he would set out Continue Reading
Global recovery slows in November, but optimism for the year ahead surges higher
The global economic recovery hit a speed bump in November, as rising COVID-19 infections led to a renewed slowing of business activity. The JPMorgan Global PMI™ (compiled by IHS Markit) edged down from 53.3 in October, its highest since August 2018, to 53.1. While the PMI has now indicated expanding Continue Reading
Commodities Week Ahead: Gold Cautious Pre-Fed; Oil Charges On, Ignoring Risks
Will gold, like a phoenix, rise from the ashes of below mid-$1800 pricing, to reclaim its berth in $1,900 territory this week? Despite a Federal Reserve meeting on Wednesday that could spell out more asset purchases that would technically fuel inflation and be friendly to gold, buyer beware seems to be the Continue Reading
Fiat CEO Manley in pole position for top job at Ferrari
MILAN, Dec 12 (Reuters) – Fiat Chrysler FCA Chief Executive Mike Manley is in pole position to take over the top job at Ferrari RACE, Italian daily Il Messaggero said on Saturday in an unsourced report. Ferrari and Fiat declined to comment. Louis Camilleri retired with immediate effect as CEO of Ferrari late Continue Reading
Bitcoin Signaling Downturn, Why BTC Could Trade To New Monthly Low
Bitcoin price is showing bearish signs below $18,050 against the US Dollar. BTC is now likely to continue lower and it could even trade below $17,500 Bitcoin is showing a few bearish signs below the $18,200 and $18,500 resistance levels. The price is now trading well below the $18,500 level Continue Reading
UK Extends Ban On Evicting Pandemic-Hit Businesses Until March 2021
The UK government on Wednesday extended the ban on evicting business owners affected by the COVID-19 pandemic until March 31, 2020, according to a same-day release. The three-month extension allows for landlords and tenants to come to an agreement on unpaid rent. The government will also review the commercial landlord Continue Reading
UK grocery sales hit record 10.9 billion pounds in November
England’s second lockdown to stem rising COVID-19 infections started on Nov. 5 and ran until Dec. 1. All non-essential shops had to close, along with pubs, cafes and restaurants, except to offer takeaway food. People were also encouraged to work from home if possible. All those factors boosted supermarket sales. Continue Reading