COVID-19’s grip on the world is far from over as rising cases and lockdowns return.
Governments from some of the world’s biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices and ahead of a meeting of major oil-producing countries.
Oil prices fell sharply on Friday towards $78 a barrel as a fresh surge in COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool prices.
Japan unveiled a record $490 billion spending package on Friday to cushion the economic blow from the COVID-19 pandemic, bucking a global trend towards withdrawing crisis-mode stimulus measures and adding strains to its already tattered finances.
European stocks gave up early gains on Friday as concerns over the economic damage from fresh COVID-19 lockdowns in the region hammered cyclical sectors such as banks and automakers.
Austria will become the first country in western Europe to reimpose a full COVID-19 lockdown, it said on Friday as neighboring Germany warned it may follow suit, sending shivers through financial markets worried about the economic fallout.
|Fraud and theft at decentralised finance platforms has totalled $10.5 billion so far this year, research showed on Thursday, laying bare the risks in the fast-growing but still mostly unregulated area of cryptocurrencies.|
|Pfizer Inc. and BioNTech SE today announced that the U.S. Food and Drug Administration (FDA) has expanded the emergency use authorization (EUA) of a booster dose of the Pfizer-BioNTech COVID-19 Vaccine to include individuals 18 years of age and older.|
|Amazon decided to ban Visa credit cards on its platform, which could end up benefiting the retail giant’s own credit cards, a new report revealed. Last week Amazon said it will stop accepting payments made by UK-issued Visa credit cards from next year.|