President-elect Joe Biden’s signaling of a shift in America’s foreign policy objectives is welcome news in Berlin, where German officials have fretted over tariffs for the last four years. Biden said he will turn away from outgoing President Donald Trump’s “America First” strategy to a more outward-looking U.S. that seems eager to lead, and to […] Read more
Despite the upturn in the global economic outlook following multiple coronavirus vaccine breakthroughs, gold’s bullish cycle will continue, according to analysts at Citi and Goldman Sachs. The traditional safe haven asset hit an all-time high in August of $2,074.88 per ounce, amid fears that the coronavirus crisis looked set to continue indefinitely. However, demand for the […] Read more
U.S. Treasury Secretary Steven Mnuchin’s decision to allow key pandemic relief programs to expire is like stripping lifeboats from the Titanic, according to Carl Weinberg, chief economist at High Frequency Economics. Mnuchin announced Thursday that he will not extend the Federal Reserve’s emergency lending programs that used Congress’ CARES Act funds beyond Dec. 31. The move is […] Read more
The outcome of Wednesday’s lease sale in the U.S. Gulf of Mexico will give analysts insights into whether the oil and gas industry will rush to secure new offshore leases before Biden moves to ban new lease developments as part of his energy plan geared toward support for renewables, emissions reduction, and the creation of green energy […] Read more
Moderna said preliminary phase three trial data shows its coronavirus vaccine is more than 94% effective in preventing Covid-19 — a result CEO Stephane Bancel called a “game-changer.” The analysis evaluated 95 confirmed Covid-19 infections among the trial’s 30,000 participants. Moderna, which developed its vaccine in collaboration with the National Institute of Allergy and Infectious Diseases, said 90 […] Read more
LONDON — The prospect of a Joe Biden presidency and the most progressive climate strategy the U.S. has ever attempted is not something that should concern the energy industry, oil and gas executives have told CNBC. Instead, they hope President-elect Biden will engage directly with them as he rolls out his energy plan. Biden, who has won the U.S. […] Read more
OPEC on Wednesday trimmed its global oil demand forecasts for the remainder of this year and 2021, citing a weaker-than-expected economic outlook and a surge in coronavirus cases. In a closely watched report, the group of oil-producing nations said it now expects world oil demand to contract by around 9.8 million barrels per day year over […] Read more
The discovery of a new coronavirus strain on Danish mink farms has led to the introduction of strict public health measures in the north of the country, with other European nations also responding to the outbreak. It comes after a warning from Denmark’s national authority for the control of infectious disease, the State Serum Institute, that if […] Read more
Biden leads in Arizona and Nevada as Trump’s margin in Pennsylvania narrows Democratic nominee Joe Biden is still leading President Donald Trump in Arizona and Nevada, as counting continues Friday. Biden holds a margin of 47,052 votes in Arizona, with 90% of total expected votes in. The state’s next election results update will come at […] Read more
Asia investors should focus on the strong data coming out of the region instead of the outcome of the U.S. election, said Aberdeen Standard Investments’ Head of Asian Sovereign Debt Kenneth Akintewe. “I find it amazing that we’ve sat here for two days discussing … elections and I’ve barely heard anyone talking about the data,” Akintewe […] Read more
