Oil prices tumble to lowest since 2002

Vinson

Global oil benchmark Brent crude plunged to its cheapest in almost 18 years overnight and US crude briefly tumbled below $US20 per barrel on growing fears the global coronavirus shutdown could last months and demand for fuel will decline further. With Saudi Arabia and Russia set to flood the market […]

Aluminium prices hit four-year lows

Vinson

Aluminium prices hit four-year lows as worries about prolonged shutdowns around the world due to the coronavirus reinforced fears of a deep recession and tumbling demand for industrial metals. Benchmark aluminium on the London Metal Exchange was down 1.1 per cent at $US1,529 a tonne overnight. Prices of the metal […]

Wall St gains as investors mull stimulus

Vinson

Wall Street has risen as US President Donald Trump followed last week’s massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors hopeful that the economic impact of the coronavirus could still be contained. A record $US2.2 trillion ($A3.6 trillion) in aid and unprecedented policy easing from the Federal […]

Saudi Arabia plans to boost oil exports

Vinson

Saudi Arabia plans to boost its oil exports to 10.6 million barrels per day from May because the country is burning less oil for power generation and there is also lower domestic consumption, a Saudi energy ministry official says. The world’s top oil exporter has already made plans to boost […]

Aust firm taking virus detection to Europe

Vinson

Australian firm Genetic Signatures has filed to register both at home and abroad a new coronavirus detection kit capable of testing nearly 200 patient samples in under five hours. The specialist molecular diagnostics company’s detection kits can, when used with supplied instruments, test a batch of 188 patient samples in […]

Rapid COVID-19 testing coming to Aust

Vinson

Pinprick blood tests that detect COVID-19 in just minutes are coming to Australia within days. Melbourne diagnostic company Endo X and ASX-listed biotech company Cellmid are among several companies that have signed import agreements with Chinese manufacturers to deliver rapid COVID-19 tests into Australia. Cellmid says its testing kits from […]

Asia shares slide as virus damage deepens

Vinson

Asian shares have slid and oil prices have taken another tumble as fears mount the global shutdown for the coronavirus could last for months, doing untold harm to economies. “We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic’s reach and the damage […]

Banks move to support landlords, tenants

Vinson

Australian banks will extend the six-month deferral of loans to 30,000 more businesses to help them cope with the COVID-19 pandemic. The additional measure, announced on Monday by the Australian Banking Association, will see the repayment deferrals expanded to businesses with loans up to $10 million, up from $3 million […]