Business – Page 188 – THE OVAL CIRCLE

Saudi Aramco profits crash 73% as coronavirus sinks oil market

Posted on August 10, 2020August 10, 2020By Editor

The world’s biggest oil exporter, Saudi Aramco, has reported massive losses for the second quarter, with its net profit nosediving 73.4 percent, as the Covid-19 outbreak crippled global demand for crude. … Read More >Saudi Aramco profits crash 73% as coronavirus sinks oil market

Big oil has spent nearly a million dollars on Trump’s reelection

Posted on August 9, 2020August 9, 2020By Editor

According to the data, as of August 2020, President Trump has received $936,155 in contributions from the oil and gas industry, compared to just $265,397 that the industry donated to Joe Biden. … Read More >Big oil has spent nearly a million dollars on Trump’s reelection

US shale remains in survival mode for another year

Posted on August 8, 2020August 8, 2020By Editor

After slashing capex plans for 2020 and idling rigs by the dozen, US shale drillers are still not ready to return to their default state of perpetual growth. … Read More >US shale remains in survival mode for another year

Russian ‘Telegram’ founder Durov believes Trump’s TikTok ban will damage America’s reputation as ‘defender of free speech’

Posted on August 7, 2020August 7, 2020By Editor

Russia’s most famous internet entrepreneur, Pavel Durov, has criticized the United States for putting pressure on Chinese-owned social network TikTok and threatening the video-sharing service with a complete ban. … Read More >Russian ‘Telegram’ founder Durov believes Trump’s TikTok ban will damage America’s reputation as ‘defender of free speech’

Exxon: 20% of global oil & gas reserves may be WIPED OUT

Posted on August 7, 2020August 7, 2020By Editor

After a grim Q2 season for Big Oil, the world’s third-most valuable energy company is warning that 20% of the world’s oil and gas reserves may no longer be viable. … Read More >Exxon: 20% of global oil & gas reserves may be WIPED OUT

Mark Zuckerberg making a killing during pandemic as his fortune tops $100 BILLION

Posted on August 7, 2020August 7, 2020By Editor

Facebook founder Mark Zuckerberg’s personal net worth surpassed $100 billion for first time on Thursday, after his social media company stock hit a record high on optimism about the release of its TikTok competitor Reels. … Read More >Mark Zuckerberg making a killing during pandemic as his fortune tops $100 BILLION

Canada vows ‘dollar-for-dollar’ retaliation after Trump reimposes 10% tariffs on aluminum

Posted on August 7, 2020August 7, 2020By Editor

Ottawa has threatened a tit-for-tat response to US protectionism after President Donald Trump slapped a 10 percent levy on Canadian aluminum imports, saying countermeasures would come “swiftly.” … Read More >Canada vows ‘dollar-for-dollar’ retaliation after Trump reimposes 10% tariffs on aluminum

China’s exports surge in July due to demand for medical masks & other lockdown goods

Posted on August 7, 2020August 7, 2020By Editor

Data from China’s General Administration of Customs showed on Friday the country’s dollar-denominated exports rose 7.2 percent last month, well ahead of analysts’ expectations. Imports fell 1.4 percent from a year ago. … Read More >China’s exports surge in July due to demand for medical masks & other lockdown goods

US unemployment during Covid-19 pandemic approaches 55 MILLION

Posted on August 7, 2020August 7, 2020By Editor

The number of new unemployment insurance claims in the United States has improved marginally for the week ending August 1, with 1.186 million initial jobless claims. … Read More >US unemployment during Covid-19 pandemic approaches 55 MILLION

The dollar is close to a Wile E. Coyote moment when it drops off the cliff & plummets – Peter Schiff

Posted on August 7, 2020August 7, 2020By Editor

Gold prices have reached a new milestone, topping $2,000 for the first time ever. Still, most people don’t really understand the significance of the rise and what it means for the US dollar, says veteran stockbroker Peter Schiff. … Read More >The dollar is close to a Wile E. Coyote moment when it drops off the cliff & plummets – Peter Schiff