Why sweetened layoff benefits may be at odds with U.S. loan program

WASHINGTON/SAN FRANCISCO (Reuters) - The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to...

Coronavirus likely ended record U.S. job growth in March

WASHINGTON (Reuters) - The U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming...

European stocks sink as pandemic hits business, oil prices grind higher

LONDON (Reuters) - European stock markets sank on Friday, erasing meagre gains for the week, as more companies flagged a hit to business from the coronavirus pandemic while oil prices extended their previous day’s...

U.S. dairy farmers dump milk as pandemic upends food markets

CHICAGO (Reuters) - Dairy farmer Jason Leedle felt his stomach churn when he got the call on Tuesday evening.  “We need you to start dumping your milk,” said his contact from Dairy Farmers of America...

Brent Crude Price Drops to $28.4 Per Barrel on London’s ICE – Trading Data

Earlier, Brent and WTI oil futures rose by roughly 10 percent, trading at approximately $27 and $22 per barrel, on the back of Trump's comments. The cost of June Brent crude oil futures on the...

The Only Logical End To The Oil War

By Amad Shaikh The global oil and gas industry is in a state of utter distress and uncertainty at the moment. At a time where the coronavirus pandemic is decimating oil demand, the last thing that...

$5 Crude Could Put Canada’s Oil Sands Out Of Business

By Tsvetana Paraskova Over the last few weeks, the higher breakeven costs for oil and the lack of sufficient takeaway capacity has come back to haunt Canada’s oil patch.  Two months ago, the Canadian Association of Petroleum...

Why U.S. Shale Will Survive The Oil Price War

By Haley Zaremba The future of the oil industry, it seems, all depends on who you ask. Many industry insiders and experts are crying armageddon, while others say that United States shale is not only poised...

The Ocean Could Be The Ultimate Renewable Energy Source

By Alex Kimani For all their hype as the biggest and final frontier in clean energy production, tidal and wave power have never quite lived up to their potential. The IEA estimates that we harnessed just 1.2TWh...

What Really Caused Oil To Rally By 25%?

By Nick Cunningham Oil prices spiked 25 percent on Thursday after President Trump tweeted that Saudi Arabia and Russia would cut production by 10 to 15 million barrels per day (mb/d), but there are a variety...

Price Collapse Halves Iraq’s Oil Revenues

By Tsvetana Paraskova Iraq saw its oil revenues cut nearly in half in March when oil prices collapsed, even though OPEC’s second-largest producer exported more barrels of crude last month than it did in February. According to...

Turkey’s car sales surge by 41 percent in first quarter: report

Turkey’s car and light commercial vehicle sales surged by 41 percent in the first quarter of 2020 year-on-year, an industry group announced on Thursday, according to the state-run Anadolu news agency. The Automotive Distributors’ Association...

Turkey’s manufacturing outlook slips below critical mark in March: report

Turkey’s Purchasing Managers’ Index (PMI), a survey of manufacturing sector managers on productivity, was at 48.1 in March, down from 52.4 in February, posting below the 50 no-change mark for the first time in...

Turkish central bank’s forex reserves dropped by $1.1 billion last week: report

The Turkish central bank’s gross foreign currency reserves dropped by $1.1 billion in the week to March 27 as the authorities continued to defend the weakening lira amid the coronavirus pandemic, the Ahval news...

Turkey’s domestic car venture appoints CMO

The joint venture which will produce Turkey’s first locally made car has appointed a former employee of France’s Groupe Renault as its Chief Marketing Officer (CMO). Talin Yıldız was the Global Marketing Director of the French automotive...

US weekly jobless claims break new record as pandemic pushes global economy into severe...

Cyclists ride through a nearly empty Times Square in Manhattan during the coronavirus outbreak, in the Brooklyn borough of New York City, New York, U.S., Tuesday, March 31, 2020. (Reuters Photo) . The U.S. economy...

Change of gas prices in Armenia to result in drastic rise of prices, poverty

The change of the gas prices in Armenia will result in a sharp rise in prices, deepening of poverty as the change targets the socially insecure cluster of population, energy safety expert Vahe Davtyan...

Saudi Arabia calls for urgent OPEC+ meeting to stabilize oil market

Saudi Arabia called for an urgent OPEC+ meeting on Thursday in an attempt to stabilize the oil market during the coronavirus pandemic, Arab News reports. “We previously tried to reach an agreement in the OPEC...

A record 6.6 million seek US jobless aid as layoffs mount

The figure for last week is much higher than the previous record of 3.3 million reported for the previous week. Source: Associated Press This Saturday, March 28, 2020 file photo shows a sign on a liquor...

Armenian central bank predicts that 2020 growth will drop to 0.7 percent

YEREVAN, April 3. /ARKA/. Citing the coronavirus outbreak and the government’s efforts to contain its spread, Armenia’s Central Bank predicted today that the country’s economic growth will significantly reduce in 2020. According to the regulator’s...