Business – Page 206 – THE OVAL CIRCLE

Rolls-Royce junk? Legendary British firm’s credit rating cut below investment grade

Posted on May 30, 2020May 30, 2020By Editor

Ratings agency Standard & Poor’s (S&P) has downgraded engine maker Rolls-Royce’s credit rating to junk, citing the disruption caused to global air travel from the coronavirus pandemic. … Read More >Rolls-Royce junk? Legendary British firm’s credit rating cut below investment grade

Around 2 BILLION people may lose their jobs in the next couple of months due to pandemic

Posted on May 30, 2020May 30, 2020By Editor

More than half of the world’s workforce (nearly two billion people) risk losing their jobs or moving to part-time work in 2020 as a result of the economic fallout from coronavirus outbreak. … Read More >Around 2 BILLION people may lose their jobs in the next couple of months due to pandemic

‘Tsunami of job losses’: Airlines going bust & firing HUNDREDS OF THOUSANDS of employees as pandemic crushes global travel

Posted on May 30, 2020May 30, 2020By Editor

International carriers which have been suffering massive losses due to the coronavirus crisis are massively cutting their workforce, leaving thousands without jobs. More cuts could come as the prospects for a quick recovery fade. … Read More >‘Tsunami of job losses’: Airlines going bust & firing HUNDREDS OF THOUSANDS of employees as pandemic crushes global travel

Venezuela hopes to have gold frozen by Britain returned in order to buy food and medical supplies amid Covid-19 pandemic

Posted on May 29, 2020May 29, 2020By Editor

Venezuela has reached a deal with the United Nations to use its gold – frozen by the Bank of England – to fund necessary food and medical purchases during the Covid-19 outbreak, Reuters reported, citing the nation’s central bank. … Read More >Venezuela hopes to have gold frozen by Britain returned in order to buy food and medical supplies amid Covid-19 pandemic

Russia ramps up gold production, adding to country’s huge bullion reserves

Posted on May 27, 2020May 27, 2020By Editor

Gold output in Russia continues to grow, increasing by 9.26 percent in 2019 year-on-year, the country’s Ministry of Finance said on Monday. … Read More >Russia ramps up gold production, adding to country’s huge bullion reserves

European Central Bank warns coronavirus response could raise fears of eurozone breakup

Posted on May 27, 2020May 27, 2020By Editor

The impact of the Covid-19 pandemic on the eurozone economy has been significant, according to the European Central Bank (ECB), increasing the underlying financial vulnerabilities of the euro area. … Read More >European Central Bank warns coronavirus response could raise fears of eurozone breakup

Russia surpasses Saudi Arabia as China’s top supplier of crude

Posted on May 27, 2020May 27, 2020By Editor

China’s imports of Russian oil have risen 18 percent in April year-on-year, according to Reuters, citing Chinese customs data. Shipments reached 7.2 million tons, equivalent to 1.75 million barrels per day (bpd). … Read More >Russia surpasses Saudi Arabia as China’s top supplier of crude

New year-round port to link Russian Arctic sea route with Asia in 2025

Posted on May 25, 2020May 25, 2020By Editor

About $5 million has been invested in the construction of a deepwater year-round port near Indiga, a settlement on Russia’s Barents Sea coast, according to the Arkhangelsk Region’s Acting Governor Alexander Tsybulsky. … Read More >New year-round port to link Russian Arctic sea route with Asia in 2025

US needs more production instead of dollar-printing, market analyst tells Keiser Report

Posted on May 25, 2020May 25, 2020By Editor

When a country, namely the US, can print trillions of dollars to keep its economy afloat, but is struggling to produce basic medical gear during a pandemic, it raises serious questions about its economic basis. … Read More >US needs more production instead of dollar-printing, market analyst tells Keiser Report