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Pelosi announces select committee to oversee U.S. coronavirus relief

U.S. House of Representatives Speaker Nancy Pelosi said on Thursday she will form a bipartisan select committee on the coronavirus crisis to oversee the spending of $2.3 trillion that Congress has approved to respond to the pandemic.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Democrats delay presidential convention until August, citing coronavirus

The Democratic Party on Thursday postponed its U.S. presidential nominating convention by a month until August, citing the coronavirus health crisis that has upended daily life and caused many states to postpone their primaries.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Wall Street gains as oil soars 30%

Wall Street bounced on Thursday as hints of a deal between Russia and Saudi Arabia drove a record 30% surge in oil prices, outweighing the shock of a jump in U.S. jobless claims past 6 million.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Onshore quarantine of U.S. aircraft carrier sailors begins on Guam

About 1,000 sailors from the aircraft carrier USS Theodore Roosevelt - roughly a fifth of its crew - were under quarantine at a U.S. naval base on Guam on Thursday as the Navy sought to control a coronavirus outbreak aboard the warship.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Oil soars over 20% after Trump claims Saudis and Russians to cut output

Oil prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of oil producers to deal with the market turmoil.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
U.S. deaths, joblessness mount as coronavirus exacts toll on Americans

The coronavirus pandemic triggered a record 6.6 million jobless claims in a week and killed nearly 1,000 Americans in a single day, the latest data show, as the crisis led officials to order more than 80% of the U.S. population to stay home.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
U.S. CDC reports 213,144 coronavirus cases, 4,513 deaths

The U.S. Centers for Disease Control and Prevention (CDC) on Thursday reported 213,144 cases of coronavirus, an increase of 27,043 cases from its previous count, and said the number of deaths had risen by 910 to 4,513.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Exclusive: How elite U.S. college students brought COVID-19 home from campus

Like many American colleges, Vanderbilt University in Nashville announced last month it was closing its dormitories and putting classes online because of the growing threat of coronavirus. It said it was acting "out of an abundance of caution" after a local healthcare worker had tested positive for the disease.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Stocks climb as investors digest grim U.S. jobs data

World equity markets climbed on Thursday on the back of a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into a recession.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Pakistan court set to free four accused in Daniel Pearl killing

A Pakistani court on Thursday commuted the death sentence of the main person accused in the 2002 kidnapping and murder of Wall Street Journal reporter Daniel Pearl, and acquitted three other co-accused in the matter.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Florida to allow two cruise ships to dock after impasse, NBC reports

MIAMI - Florida officials have agreed to allow two Holland America Line cruise ships afflicted with the coronavirus to dock at a port in Fort Lauderdale, resolving a days-long impasse that drew the attention of President Donald Trump, NBC reported on Thursday.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Trump says he brokered deal with Saudi, Russia for huge oil cuts

U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Thousands of U.S. banks may sit out small-business rescue plan on liability worries: sources

Thousands of U.S. banks, including some of the country's largest lenders, have said they may not participate in the federal government's small-business rescue program due to concerns about taking on too much legal and financial risk, five people with direct knowledge of industry discussions told JunctionNews.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
U.S. weekly jobless claims blow past six million as coronavirus lockdowns spread

The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Instant View: Weekly US jobless claims top 6 million for first time

The number of Americans filing claims for unemployment benefits last week shot to a record high for a second week in a row - topping 6 million - as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Exclusive: Germany in talks to inject billions into Lufthansa - sources

Germany is in talks to provide Lufthansa with billions of euros in state aid and could take a stake in the airline, which has grounded 95% of its fleet due to the coronavirus pandemic, people close to the matter said.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Boeing to offer voluntary layoffs to employees to tide over coronavirus fallout

Boeing Co Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a lasting impact on the global aerospace industry.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Why is New Orleans' coronavirus death rate nearly three times New York's? Obesity is a factor

The coronavirus has been a far deadlier threat in New Orleans than the rest of the United States, with a per-capita death rate almost three times that of New York City. Doctors, public health officials and available data say the Big Easy's high levels of obesity and related ailments may be part of the problem.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
WeWork troubles deepen as SoftBank pulls $3 billion tender offer

SoftBank Group Corp said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT
Lights, camera, audit: accountants grapple with remote company check-ups

As audit season begins for British companies, some auditors stuck at home in coronavirus lockdown are turning to cameras to check clients' inventories, plant and equipment for compiling annual accounts.

[Read More] Posted: Fri, 3 Apr 2020 1:30:23 SGT



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