Top ten business news of the world.
1. OIL PRICE DILEMMA FORCES BUYERS TO RENEGOTIATE THEIR DEALS:
Since there has been a downward trend in the oil prices in recent months now, major Oil buyers have started looking to renegotiate their deals with their sellers. Although sellers are also finding it hard to choose between reducing their prices or lose the deal itself. According to reports in the media, the differences have already surfaced between players like Blackstone and Chyrsaor over the prices. Total, another major player, has already indicated to restructure their deal with HitecVision regarding their North Sea oilfields.
2. FRANCE TRYING HARD TO HELP EU OVERCOME ECONOMIC CRISIS:
The French Finance minister said that the dismal economic situation of the EU has been worsened due to COVID-19. Now, the EU has either to pull together to confront its rivals or it will face sidelining from the main stage or even face financial collapse.
3. EU URGES US TO RETHINK HIS CUT ON FUNDING OF WHO.
In a recent meeting of the EU, it urged US President Trump to revisit his decision to cut American funding to the world health body at a critical juncture, when the whole world is trying to fight the COVID-19 pandemic collectively. A Leading journalist termed this decision as ‘madness and terrifying at the same time’.
4. TRUMP ANNOUNCES CURTAILING TIES WITH HONG KONG AND WITHDRAWING FROM WHO.
President Trump, in his series of actions against China and WHO, announced that his administration would soon start the process of curtailing all special status granted to Hong Kong including the trade and Law enforcement. He also declared that the US would withdraw from the WHO as retaliation to China and WHO ‘s role in the COVID-19 pandemic and its spread.
He blamed China and WHO for not being shared with the world about coronavirus and its dangers.
5. INDIAN FM ANNOUNCES, NON- STRATEGIC PSU’S CAN BE PRIVITISED.
While providing details of her five-part economic stimulus package of almost Rs. 21 lakh crores, she said that PSU’s in non-strategic sectors will be privatized. She also shared the decriminalization of violations under the Companies Act to help the Industry deal effectively with COVID -19 effects.
6. JAPAN TOO, HIT BY RECESSION.
Japan’s economy recorded a reversion for the first time in the last 4 years. It recorded an annualized 3.4% in the first quarter. The experts estimate that the island nations’ economy will shrink by almost a record decline of 22% in the current quarter.
7. IMPACT OF COVID-19 ON IMMIGRATION WORLDWIDE:
COVID -19 has impacted almost every citizen of the world directly or indirectly. No Governments have been left untouched by the economic crisis that has been thrust upon the developed as well as developing economies and its populations. Most of the people will have to change their job or change their workplace or even have to look for better alternatives in the changed job scenario. Different countries have adopted different approaches for their own citizens and immigrant populations. Every nation will have to make policies preferential rules for its own citizens, but Immigrant populations will a very vital part of the growth of many developed economies of the world.
8. ZUCKERBURG EXPLAINS WHY #FACEBOOK IS DOING NOTHING about #Trump’s posts. He says, people can agree or disagree where we should draw the line, but I hope they understand that it is better to have a discussion out in the open especially when the stakes so high.
9. US President Trump ‘s executive order to the Federal Communication Commission to rethink the scope of Section 230 “when a platform is engaged in editorial conduct”. This order will have far-reaching consequences for social media platforms.
10. India’s economy grew by 3.1 percent in the January-March quarter of 2019-20. The country’s fiscal deficit has widened to 4.6% of GDP in 2019-20 with Govt’s revenues hitting a low.