A new economic era beckons after this crisis April 29, 2020 Current events likely mark a turning point in economic policy and the end of a 40-year spell of free market capitalism. Nobody can know how long the Covid-19 crisis will last, but I think that regardless of this it will mark a profound long-term change in economic policy. It is likely a turning point in [...]
Coronavirus: Firms must adapt to survive April 26, 2020 As companies slowly transition from shock to survival during what is arguably history’s biggest peacetime crisis, it is becoming increasingly clear that the coronavirus pandemic has the potential to completely transform how the world does business. During an initial ‘Shock Phase’, which started around the middle of March and ended towards the middle of April, [...]
US crude oil inventories near all-time highs as demand dries up April 22, 2020 US crude oil inventories neared record levels today as producers continued to pump despite a near-total collapse in demand. Crude inventories rose by 15m barrels in the week to April 17 to 518.6m barrels, putting them within striking distance of an all-time record of 535m barrels set in 2017. Rystad Energy analysts had predicted an [...]
Brent crude tumbles overnight to lowest oil prices since millennium April 22, 2020 The price of worldwide benchmark Brent crude tumbled overnight as the global rout of oil prices continued on fears that storage space is rapidly running out. At its nadir, Brent crude fell over 18 per cent to $15.98, a level last seen before the turn of the millennium in mid-1999. As trading opened in London, [...]
Analysis: Can oil prices recover from the coronavirus crash? April 20, 2020 Global oil prices plunged again today amid heightened fears that some producers might have to stop pumping due to the rapid filling of the world’s storage facilities. West Texas Intermediate, the US benchmark, is in freefall, dropping 40 per cent today alone, whilst Brent crude fell over seven per cent. The collapse in prices, coupled [...]
Coronavirus: The state is strong where it should be weak, and weak where it should be strong April 16, 2020 After politicians in countries all around the world – including political leaders in the United States and Europe – initially ignored and massively underestimated the dangers associated with the coronavirus, it is now clear that huge numbers of people will sooner or later become infected. Even with decisive action, hundreds of thousands will die worldwide. [...]
Costain secures £3.3bn HS2 contract that could create 6,000 jobs April 15, 2020 Engineering firm Costain has won a £3.3bn contract to design and build the tunnels connecting the HS2 railway to London Euston station. This initial phase of the High-Speed Two (HS2) railway project, which controversially got the go-ahead from government in February, will create 6,000 jobs, Costain said. Costain’s share price surged 23 per cent to [...]
UK coronavirus deaths jump by 778 to pass 12,000 April 14, 2020 Another 778 Brits have died to take the UK coronavirus death toll to 12,107 as the daily infection count climbed, official data revealed today. Another 5,252 Brits had tested positive for coronavirus by 5pm yesterday, the Department for Health revealed. England counted another 744 coronavirus deaths today to bring the country’s total to 11,005. London [...]
China reports no new coronavirus deaths for the first time April 7, 2020 China reported no new coronavirus deaths overnight for the first time since the outbreak began in Wuhan at the start of 2020, as hopes grow that the global pandemic is easing. European countries hit badly by Covid-19, Italy, Spain, Germany and France, also reported lower new case numbers yesterday. And New York’s governor, Andrew Cuomo, [...]
FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]