‘How about next June?’ Small meat processors backlogged as virus idles big plantsBy: Agencies on May 27, 2020Inside the small-scale Iowa abattoir Stanhope Locker and Market, owner Shaunna Zanker yawns with exhaustion as she listens to yet another farmer asking her to slaughter his pigs. “I’m so sorry, but we’re booked through March of next year,” Zanker said on the phone. “How about next June?” Slaughter operations like Zanker’s are booming as […]
Equities build on gains as reopenings trump geopolitical tensionsBy: Agencies on May 27, 2020A further easing of lockdown measures across the planet continued to push equities higher in Asia on Tuesday, with the reopening of bars, cafes, pools and beaches overshadowing China-US tensions. Hong Kong was among the big gainers as the Hang Seng ate away at a loss of more than five percent suffered on Friday after […]
US small firms leave $150 billion in coronavirus stimulus untappedBy: Agencies on May 27, 2020When the US government first rolled out forgivable loans to small businesses in early April under the Paycheck Protection Program, loan officers at Bank of the West in Grapevine, Texas worked nights and weekends to process a tsunami of applications. But since those first few frantic weeks, demand has “just dried up,” said bank president […]
Oil climbs as suppliers stick to output cuts, coronavirus lockdowns easeBy: Agencies on May 27, 2020Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world. US West Texas Intermediate (WTI) crude futures gained 2.3%, or 75 cents, to $34.00 as of 0057 GMT. There was no WTI […]
LATAM becomes largest airline to file for bankruptcy amid coronavirusBy: Agencies on May 27, 2020LATAM Airlines Group SA filed for US bankruptcy protection on Tuesday, becoming the largest carrier to seek an emergency reorganization amid the coronavirus crisis. Latin America’s largest airline follows rival Avianca Holdings of Colombia in seeking US bankruptcy protection. But unlike Avianca, Chile’s LATAM posted profits for four consecutive years totaling more than $700 million. […]
US imports record amount of gold from Switzerland as virus upends tradeBy: Agencies on May 27, 2020Swiss exports of gold to the United States leapt to 111.7 tonnes in April — by far the biggest monthly total on record — while shipments to other destinations dwindled, customs data showed on Tuesday. The global gold market has been turned on its head by the novel coronavirus, with demand in China and India […]
Sufficient petrol stock available in country; PD rejects any shortageBy: APP on May 26, 2020ISLAMABAD: The Petroleum Division (PD) while rejecting a news item appearing in a section of electronic media about shortage of petrol said sufficient fuel stock was available in the country to meet for 13-day needs. “There is sufficient stock of petrol available to cater for the demand of country, contrary to news reports in a […]
Oil prices climb as faith in supply cuts growsBy: Reuters on May 26, 2020LONDON: Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut crude supplies while fuel demand picks up with more cars back on the road as coronavirus lockdowns ease. Brent crude futures were up nearly 1.4%, or $0.5 to $36.03 a barrel as of 0840 GMT. US West […]
Lockdown gives Albanian beekeepers a ‘golden year’By: Agencies on May 24, 2020With factories and farms silenced by the coronavirus shutdown, Albania’s bees have been busier than ever, stirring excitement among farmers expecting an unparalleled honey harvest thanks to a respite from pollution and pesticides. “It’s a golden year for bees,” says 68-year-old Gezim Skermo, dressed in a protective suit as he inspects his rows of wooden […]
China vows to stick to trade deal with US despite rising conflictBy: News Desk on May 24, 2020Beijing has reiterated its commitment to the trade agreement with the US despite aggressive rhetoric from Washington over the devastating economic impact of the coronavirus crisis. “We will work with the United States to implement the phase one China-US economic and trade agreement,” Chinese Premier Li Keqiang said during a key annual meeting of the […]