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Bloomberg After weeks of wondering how corporate Canada fared in the early days of the Covid-19 pandemic, investors finally got a proper look under the hood. Senior executives spoke about the impact. Some described the future as too hard to predict. Others tried to identify parallels and differences with the financial crisis. By withdrawing their 2020 forecasts, many Canadian companies …

Bloomberg Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% this week. Explorers are cutting production in response to crude oil trading in the $20-a-barrel range. EOG Resources Inc. is cutting about a quarter of its oil production for May in …

Dubai / Emirates Business In the era of distance learning capability brought in by the Covid-19 pandemic, a line-up of ministers and decision makers in the education sector highlighted why it is critical to develop a sound implementation strategy to ensure the continuity of higher education and learning, during a session titled, ‘Life After Covid-19: Higher Education’. The virtual session …

Bloomberg West Texas Intermediate has been gaining since its history-making crash in the US last month, trading at around $25. Brent crude has been practically soaring, touching $30 in London. They can’t match the criollo barrel in Argentina, though — $45 guaranteed, no matter what. That dream price doesn’t actually exist, but it could soon. The administration of President Alberto …

Bloomberg Oil and natural gas exploration plunged to an all-time low as the economic and industrial dislocations from the Covid-19 pandemic snuffed out the remnants of the American shale boom. Drilling in US oil and gas fields retreated by 34 rigs this week to 374, led by a precipitous drop in crude exploration that sank to levels not seen since …

Bloomberg Italy’s electricity demand jumped as lockdown restrictions were loosened, signaling that an economic recovery may be on its way. While consumption rose in France and Britain and held steady in Germany and Spain from the previous week, it’s not clear how quickly demand will recover or if it’ll ever reach pre-crisis levels as the threat of a deep recession …

Bloomberg Mobile phone applications that trace the new coronavirus could help decide whether business travellers and vacation-goers get to meet clients or visit their favourite beaches this summer. But politics and disagreement over what system to use threatens to thwart that solution. Governments in Europe and elsewhere are turning to voluntary mobile apps to help trace possible infections of the …

Bloomberg The UK’s contact-tracing mobile phone app includes code that could allow authorities access to a user’s detailed location data and to send information to Microsoft Corp. and Alphabet Inc.’s Google, according to an initial technical analysis carried out by Privacy International. Like governments around the world, the UK is developing a voluntary mobile app that uses Bluetooth technology to …

Bloomberg Facebook Inc. users asked a judge to approve a $550 million settlement in their class-action lawsuit that claimed the social-media giant illegally gathered biometric data through a photo-tagging tool. The class members will get from $150 to $300, or between 15% and 30% of the possible recovery on an individual claim, according to their lawyers. The settlement provides “excellent …

Bloomberg Automakers won’t have to recall roughly 56 million more air bag inflators made by the now-defunct Takata Corp., the US National Highway Traffic Safety Administration (NHTSA) said, citing industry test data the agency said showed the parts won’t pose danger. The agency and an industry group will monitor safety of those Takata air bag inflators, which contain a moisture-absorbing …