Global virus cases near two million

Vinson

The number of confirmed coronavirus cases around the world is hovering around 2 million, but the lack of fresh hot spots has yielded a ray of optimism. The brunt of the disease has been felt most heavily in New York, Italy, France, Spain and the United Kingdom, but grim projections […]

Record falls in activity, confidence: NAB

Vinson

Measures of Australian business and consumer sentiment suffered their steepest falls on record in March as whole sectors of the economy were shut down to stem the coronavirus, likely tipping the country into its first recession in three decades. National Australia Bank’s index of business conditions dived to -21 in […]

Afterpay still growing amid virus crisis

Vinson

Afterpay says it is still seeing strong growth amid the coronavirus crisis and has no need to raise more money in the foreseeable future. With $541.1 million in cash on hand and $719.2 million in total liquidity as of March 31, the buy now, pay later giant says “downside scenario […]

QBE to raise $1.3bn for COVID-19 buffer

Vinson

Insurance giant QBE is embarking on a $US825 million ($A1.3 billion) raising to build a buffer against the impacts of the coronavirus pandemic. The company, which also said premium growth had been strong in the first quarter, is the latest in a growing list of ASX-listed firms to tap shareholders […]

IMF gives debt relief for 25 poor nations

Vinson

The International Monetary Fund has cancelled six months of debt payments for 25 of the world’s most impoverished countries so they can help tackle the COVID-19 pandemic. IMF Executive Director Kristalina Georgieva issued a statement saying the IMF executive board approved the immediate debt relief for 19 African countries, Afghanistan, […]

Gold prices shoot over seven-year peak

Vinson

Gold soared over 1.5 per cent to its highest in more than seven years as panicked investors scurried towards the safe-haven metal on fears of coronavirus blow to the global economy and US corporate earnings. Spot gold surpassed the key $US1,700 pivot to touch its highest since December 2012 earlier […]

Shanghai copper hits near four-week high

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Copper futures prices climbed to their highest in nearly four weeks on supply worries, following a fall in inventories and operations suspension in major producer nations. The most-traded copper contract on the Shanghai Futures Exchange climbed as much as 1.9 per cent to 41,980 yuan ($US5,958.80) a tonne, its highest […]

Oil mixed as demand worries offset gains

Vinson

Oil prices were mixed as the historic production-cut deal inked by major global oil producers was not enough to assuage existing worries about the demand destruction brought on by the coronavirus pandemic. Brent futures rose 26 US cents, or 0.8 per cent, to settle at $US31.74 a barrel, while US […]

Shares slip, crude mixed as gold jumps

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Stocks on Wall Street have mostly slid over concerns of what the coronavirus pandemic will do to corporate earnings while crude prices were mixed as a global deal on record output cuts failed to quell doubts the pact would head off an oil glut. Gold prices rose to their highest […]

Wall St falls on dour earning expectations

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Wall Street’s main indexes have slipped amid expectations of a painful US quarterly earnings season due to the coronavirus pandemic. JPMorgan Chase & Co and Wells Fargo & Co will kick off the reporting season on Tuesday, with analysts expecting an uptick in trading revenue to be offset by declines […]