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Commodities Corner: COVID infections, vaccine prospects play ‘tug of war’ with oil as traders look to OPEC+

Oil’s playing a tug of war game between rising COVID-19 cases and promising vaccine developments. MarketWatch photo illustration/iStockphoto The Organization of the Petroleum Exporting Countries and its allies are expected to extend oil production cuts into the new year in an effort to avoid a global glut of inventories. But with Covid-19 cases accelerating in… Continue reading Commodities Corner: COVID infections, vaccine prospects play ‘tug of war’ with oil as traders look to OPEC+

Business news

Trump team tries to rally supporters as re-election prospects dim

Donald Trump’s campaign doubled down on claims that the US president could still be re-elected even as Joe Biden widened his lead, and some of Mr. Trump’s allies have urged supporters to take to the streets in protest. The Trump campaign insisted on Friday morning that the election was ‘not over’ shortly after Mr Biden… Continue reading Trump team tries to rally supporters as re-election prospects dim

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Europe’s prospects depend on more than beating the pandemic

A resurgence of the pandemic is threatening to tip the eurozone into a double-dip recession, cutting short the recovery that took shape from the middle of this year. Few if any economists expect a slump as severe as the 11.8 per cent quarter-on-quarter contraction recorded between April and June. But services, which account for about… Continue reading Europe’s prospects depend on more than beating the pandemic

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Economic Report: More unemployed Americans are exhausting state benefits and facing bleak job prospects

The number of jobless Americans getting unemployment compensation fell by more than 6 million from August to early October, but at least one-third appear to have simply exhausted their state benefits and shifted to a temporary federal-relief program. What it signals, economists say, is the decline in existing jobless claims is not quite as good… Continue reading Economic Report: More unemployed Americans are exhausting state benefits and facing bleak job prospects

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Pelosi ‘optimistic’ about prospects for US stimulus deal

Nancy Pelosi, the Democratic speaker of the House of Representatives, said she was “optimistic” about a fiscal stimulus deal after the Trump administration made concessions on coronavirus testing and tracing ahead of an imminent deadline to reach a compromise. Ms Pelosi had said she would wait until Tuesday evening for “clarity” from the White House… Continue reading Pelosi ‘optimistic’ about prospects for US stimulus deal

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Pandemic will hit the pension prospects of billions, warns study

The economic crisis triggered by the coronavirus pandemic has heightened retirement insecurity for billions of people around the world who now face working longer, or having less income in later life, according to a new analysis of global pension systems. Even before the crisis, private and public retirement systems were under strain from ageing populations… Continue reading Pandemic will hit the pension prospects of billions, warns study

Business news

LVMH lawsuit calls Tiffany’s prospects ‘dismal’

A “catastrophic” performance since the outbreak of coronavirus has left Tiffany with “dismal” prospects for the future, according to the company, which until recently wanted to buy the American luxury jeweler for $ 16.6 billion. LVMH, the conglomerate run by French tycoon Bernard Arnault, launched the scathing attack on Tiffany and her management in a… Continue reading LVMH lawsuit calls Tiffany’s prospects ‘dismal’

Business news

China’s retraining campaign offers scant prospects for the unemployed

Li Tianhui had high hopes when she enrolled in a free training program for her neighborhood makeup artist, six months after losing her job as a sales assistant during the coronavirus outbreak. “I was struggling to get a job due to a lack of skills,” said Ms. Li, 33, from Chengdu, a city in southwest… Continue reading China’s retraining campaign offers scant prospects for the unemployed