With novel coronavirus infections setting a single-day national record Wednesday, health experts are taking little solace from one of the few bright spots in the current resurgence: deaths are not rising in lockstep with caseloads. But that may be just a matter of time. “Deaths always lag considerably behind cases,” Anthony Fauci, the nation’s top …
Continue reading “The Coronavirus is BACK Bigger and BADDER then Ever”
Latest estimate for GDP is amoung the lowest ever : -46.6 percent — June 25, 2020 The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -46.6 percent on June 25, down from -45.5 percent on June 17. After this week’s data releases from the U.S. …
Continue reading “Atlanta Fed running estimate of real GDP growth -46.6 percent — June 25, 2020”
Some local officials are disappointed the federal government will end funding for coronavirus testing sites this Friday. In a few places those sites will close as a result. This as criticism continues that not enough testing is available.In the Philadelphia suburbs, Montgomery County has a drive-through site that has tested 250 people a day since …
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‘We basically had a pretty near meltdown of some of the core financial markets,’ says Andrew Bailey The Bank of England saved the UK from effective insolvency because of the coronavirus pandemic, its governor has said. Andrew Bailey told Sky News that the government would have struggled to fund itself had the Bank not intervened …
Continue reading “The Bank of England Just saved the financial system from insolvency”
BERLIN/MUNICH/FRANKFURT (Reuters) — German payments company Wirecard collapsed on Thursday after disclosing a massive financial hole in its books, leaving creditors owed nearly $4 billion facing an almost complete wipeout. The implosion of the fintech company comes less than two years after it won admission to Germany’s prestigious DAX stock index. Worth $28 billion at …
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BERLIN/MUNICH: Wirecard said on Thursday (Jun 25) it was filing for insolvency after disclosing a US$2.1 billion financial hole in its accounts. The move makes it the first sitting member of Germany’s blue-chip share index to go out of business. Shares were suspended by the Frankfurt Stock Exchange before the news. They have lost more …
Continue reading “Wirecard files for insolvency, becoming first DAX member to fail”
https://youtu.be/hagMAMCm43s Wirecard Files for Insolvency After $2.1 Billion Went Missing (Bloomberg) — Wirecard AG filed for insolvency, following the arrest of its CEO amid a massive accounting scandal that left the German payment-processing firm scrambling to find over $2 billion dollars missing from its balance sheet Wirecard management cited over-indebtedness as the reason behind the …
Continue reading “Wirecard trading halted as it files for insolvency”
AUSTIN — Gov. Greg Abbott sternly warned Texans of “rampant” spread of coronavirus that took the state to a new high Tuesday of more than 5,000 new cases in a single day. Saying Texans should stay home unless they have a good reason to venture out, Abbott late Tuesday afternoon gave local officials more …
NEW YORK (AP) — New York, Connecticut and New Jersey will require visitors from states with high infection rates to quarantine for 14 days, New York Gov. Andrew Cuomo said Wednesday. “We now have to make sure the rates continue to drop,” Cuomo said. “We also have to make sure the virus doesn’t come on …
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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 540.7 million barrels, U.S. crude oil inventories are about 16% above the five year average for this time of year. U.S. crude oil refinery inputs averaged 13.8 million barrels per day during the …
Continue reading “EIA Weekly Petroleum Report week ending June 19”