Qantas Airways Ltd said on Monday it had advised Airbus SE and Boeing Co that it did not expect to take delivery of any new planes in the near term as it grapples with a plunge in demand due to the coronavirus pandemic. The airline had expected to add three Boeing 787-9 jets to its fleet by the end of 2020 and to start taking delivery in August of the first of 18 Airbus A321neos due by 2022. There is no longer a specific timeline for them to arrive because the market is too uncertain, a Qantas spokesman said, confirming a report on travel website Executive Traveller....
May.11 -- Jun Bei Liu, portfolio manager at Tribeca Investment Partners, looks at how the coronavirus outbreak is affecting the global economy and stock markets, and shares her investment strategy. Federal Reserve Bank of Minneapolis President Neel Kashkari said Americans should brace for even more gut-wrenching news on unemployment amid the coronavirus pandemic. Liu speaks with Rishaad Salamat and Selina Wang on "Bloomberg Markets: Asia."...
U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation's food supply even as workers got sick and died. Trump, who is in an acrimonious public dispute with Beijing over its handling of the coronavirus outbreak, invoked the 1950 Defense Production Act on April 28 to keep plants open. Now he is facing criticism from some lawmakers, consumers and plant employees for putting workers at risk in part to help ensure China's meat supply....
(Bloomberg) -- Oil edged lower after posting its first back-to-back weekly gain since February as investors weighed nascent signs of a recovery in demand against a huge global glut and the risk of a resurgence in virus cases.Futures fell 0.5% in New York after rising 25% last week. While death rates have been easing in many countries, there’s concern the global economy may be vulnerable to a second wave of infections. China put a city near North Korea in lockdown over the weekend, while the White House has been hit with a case even as President Donald Trump encourages Americans to return to work.However, the market is showing some signs it’s starting to rebalance. China’s oil stockpiles have shrunk in recent weeks after swelling to a record, while hedge funds increased their bullish bets on West Texas Intermediate crude. U.S. output cuts are accelerating with active drill rigs falling to a...
Gold is poised to strengthen in the longer term and investors are trying to get their hands on the metal before it rockets higher, he said, adding that there was a lot of technical support around the $1,700 level. On the Sino-U.S. trade front, the International Monetary Fund on Friday warned Washington and Beijing against rekindling a tariff war that could weaken recovery from the pandemic, while signalling a possible downward revision of global economic forecasts....
Gold is poised to move higher in the longer term and investors are trying to get their hands on the metal before it rockets higher, he said, adding that there was a lot of technical support around the $1,700 level. On the Sino-U.S. trade front, the International Monetary Fund on Friday warned Washington and Beijing against rekindling a tariff war that could weaken recovery from the pandemic, while signalling a possible downward revision of global economic forecasts....
