April, 2020

• 21 April

  Oil industry cuts 51,000 jobs in March due to coronavirus

  

  Bloomberg The oil and gas industry shed nearly 51,000 drilling and refining jobs in March, a 9% reduction that is likely to get worse as futures prices fell into negative territory Monday. March’s job losses rose by 15,000 when ancillary jobs such as construction, manufacturing of drilling equipment and shipping are included, according to BW Research Partnership, a research consultancy, ...

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• 21 April

  India sees clean energy gain at coal’s expense

  Bloomberg Clean energy is gaining a greater share of India’s energy mix, a silver lining amid the country’s prolonged virus lockdown that has cut power demand by about a quarter. Electricity generated from renewable sources, nuclear and hydropower made up 27% of India’s total generation as of April 15, data from grid operator National Load Despatch Centre show. That’s up ...

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• 21 April

  Denmark may lose $28bn from coronavirus this year

  

  Bloomberg The Danish economy may lose more than 190 billion kroner ($28 billion) this year, the equivalent of 8.3% of gross domestic product, as a result of a slowdown in economic activity, according to a business survey conducted by the Confederation of Danish Industry. The figure is up from an estimate of 155 billion kroner four weeks ago, according to ...

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• 21 April

  IBM reports falling revenue, pulls forecast on virus woes

  

  Bloomberg International Business Machines Corp. (IBM) reported a drop in first-quarter revenue and pulled its profit forecast for the year, signalling that the Covid-19 pandemic has become another hurdle for the company in its transition to cloud computing. Sales declined 3.4% to $17.6 billion in the period that ended March 31, the Armonk, New York-based company said in a statement. ...

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• 21 April

  UK jobless claims rise over Covid-19 impact

  

  Bloomberg UK jobless claims increased last month as the coronavirus pandemic began to have an impact on the labour market. Claims rose 12,200 compared with a 5,900 gain in February, the Office for National Statistics said on Tuesday. The claimant count rate rose to 3.5%, the highest since the start of 2014. Unemployment is sure to keep rising after the ...

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• 21 April

  Peugeot maker PSA Q1 sales drop by 16%

  Bloomberg French automaker PSA Group posted a 16 percent slump in first-quarter sales and forecast the European market will shrink by a quarter this year as the coronavirus pandemic slams the car industry. The company has secured liquidity and cut costs, Chief Financial Officer Philippe de Rovira said in the statement on Tuesday, adding that it is preparing for a ...

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• 21 April

  Uber gets green light to chase US government contracts

  

  Bloomberg Uber Technologies Inc. won approval to serve as a business vendor to the US government, allowing the company to vie for an estimated $810 million in spending over the next five years. Politicians and campaigns have for years relied on Uber for rides to and catering for their events, but the decision is the first clearance for federal agencies ...

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• 21 April

  Kim was in critical condition after surgery, says US official

  

  Bloomberg Mystery surrounded Kim Jong-un’s health after US and South Korean officials gave differing accounts of the North Korean leader’s condition following his unusual absence from recent holiday celebrations. Kim was in critical condition after undergoing cardiovascular surgery last week and the Trump administration wasn’t sure of his current health, said US officials, who asked not to be identified. One ...

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• 21 April

  Italy to relax its rigid lockdown on virus

  

  Bloomberg Italy will present a plan this week to ease its rigid lockdown, joining Germany, France and Austria in pursuing a gradual return to normality as coronavirus infection rates fall and pressure mounts to reopen businesses. Prime Minister Giuseppe Conte aims to roll out a detailed restart program beginning on May 4, indicating that the process will take time to ...

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• 21 April

  Trump says he will suspend immigration to US over virus

  

  Bloomberg President Donald Trump said he’ll sign an executive order temporarily suspending immigration into the US as the country tries to contain the spread of the coronavirus. Trump made the announcement by tweet, and did not offer specifics, such as the time frame or the scope of who would be affected. The White House did not immediately respond to a ...

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