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Gold drops on hopes of a virus slowdown

Gold drops on hopes of a virus slowdown

Gold prices have fallen over 1.0 per cent, retreating from a near one-month high hit earlier in the session, as signs of slowdown in coronavirus cases in major epicenters boosted equity markets, drawing away some of the bullion's safe-haven appeal.Spot gold fell 1.0...

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US pushes back on call for oil output cuts

US pushes back on call for oil output cuts

Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.However, the US...

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China overtakes US in patent applications

China overtakes US in patent applications

China has overtaken the US for the first time in the number of patent applications last year, the World Organisation for Intellectual Property (WIPO) says.China made 59,000 patent applications in 2019, about 1000 more than the US, WIPO said.The US had been top of the...

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Mortgage lending fell as COVID-19 loomed

The value of new home loans fell by a worse-than-expected 1.7 per cent in February even before the most serious coronavirus lockdown measures were in place.Economists had tipped the total value of housing loans to slow from 4.6 per cent growth in January as the...

IAG boss Harmer to retire by end of 2020

IAG chief executive Peter Harmer will retire by the end of 2020 after five years in charge of the insurance giant.Company chairman Elizabeth Bryan said on Wednesday a flexible nine-month transition period has been agreed with Mr Harmer to ensure a smooth changeover...

Copper rises on hopes of slowing pandemic

Copper prices surged to their highest in nearly three weeks on some signs that the coronavirus pandemic may be slowing and on hopes that heavy bouts of stimulus will repair economic damage.Some analysts were wary, however, of the rally that swept industrial metals...

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