The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world's demand for oil may peak. The rise of electric vehicles and a shift to renewable energy sources were already prompting downward revisions in forecasts for long-term oil demand.
Canada's main stock index rose on Wednesday as a raft of upbeat corporate earnings lifted investor sentiment and expectations of a swift economic recovery, though lower oil prices capped further gains.
Mahindra and Mahindra Ltd: * MAHINDRA LIFESPACE DEVELOPERS - FINALIZED TERMS TO BUY ABOUT 3.2 ACRES OF LAND IN PUNE, FROM MAHINDRA & MAHINDRA LTD Source text for Eikon: Further company coverage:
The U.S. dollar rose on Wednesday from a seven-week low hit overnight, as
broad weakness in stock markets triggered by a resurgence of COVID-19 cases in India and Japan encouraged a
retreat to the ...
* Netflix (NFLX) falls as subscriber growth slows. * Verizon (VZ) shares fall after Q1 results. * Indexes up: Dow 0.43%, S&P 0.26%, Nasdaq 0.06% By Shreyashi Sanyal and Devik Jain. The S&P 500 and the Dow Jones indexes were higher on Wednesday after sliding for two straight sessions, while the Nasdaq remained muted as Netflix (NFLX) kicked off quarterly earnings for technology behemoths with a disappointing report.
The Bank of Canada held its key overnight interest rate at a record low 0.25% as expected on Wednesday and said it would cut its weekly net purchases of government of Canada bonds to a target of C$3 billion from C$4 billion. In a statement, the central bank said it remained committed to keeping the interest rate unchanged until economic slack was absorbed.
Lebanon's loss of correspondent banking relationships would accelerate the country's economic decline, Moody's said in a note emailed on Wednesday. The country's central bank last week called on the caretaker government to urgently adopt a plan to limit spending on subsidies to protect remaining foreign currency reserves.
U.S. stocks wavered as the global Covid-19 infection rate and potential for new variants fueled concerns about the pace of economic recovery. The S&P 500 was recently little changed following two straight days of declines. The tech-heavy Nasdaq Composite shed 0.4%.
Mexico's peso recovered from steep
losses on Wednesday, while most other Latin American currencies
were muted as surging COVID-19 cases hurt appetite for
risk-driven assets.
NEW YORK, April 21, 2021 Global productivity fell in 2020 but it will recover through 2021, according to the latest release of annual productivity growth rates for 131 countries by The Conference Board. Globally, growth in output per worker fell 0.9 percent in 2020 after rising 1.0 percent in 2019, but is projected to rebound to 2.9 percent growth in 2021.
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