InTheMoneyStocks.com President & CFO Gareth Soloway joins Yahoo Finance’s Kristin Myers to break down the latest market action as COVID-19 concerns rise.
InTheMoneyStocks.com President & CFO Gareth Soloway joins Yahoo Finance’s Kristin Myers to break down the latest market action as COVID-19 concerns rise.
Canada's budget deficit is forecast to hit a historic C$381.6 billion ($293.9 billion) on COVID-19 emergency aid, with the federal government eyeing C$100 billion in stimulus to be rolled out once the virus is under control, the finance department said on Monday. The forecast deficit is 11.2% higher than projected in July, mostly due to C$25.1 billion in new COVID-19 and recovery spending, along with higher-than-expected emergency support costs. "We are living through a very virulent second wave of the coronavirus and I think we all know winter will be difficult," Finance Minister Chrystia Freeland told reporters.
UDR, Inc. (the "Company") (NYSE: UDR), announced today that it has priced an offering of $350 million aggregate principal amount of 1.900% senior unsecured medium-term notes due March 15, 2033. The notes were priced at 99.578% of the principal amount, plus accrued interest from December 14, 2020 to yield 1.939% to maturity.
VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today announced that Pat Gelsinger, VMware’s chief executive officer, will present as a keynote speaker at the Barclays Global TMT conference on Wednesday, December 9, 2020 at 11:00 a.m. PT/ 2:00 p.m. ET.
Principal Financial Group elevates two regional Principal International leaders to executive team; president & CEO of Principal International retires
Barclays Bank PLC ("Barclays") announced today that it will exercise its issuer call option and redeem, in full, each series of exchange-traded notes listed in the table below (each, an "ETN" and collectively, the "ETNs"). Further details regarding the redemption of these ETNs are highlighted in the table below:
Today, Walmart announced Dr. Cheryl Pegus as Walmart’s Executive Vice President, Health & Wellness. In this role, Dr. Pegus will further develop Walmart’s bold healthcare vision, leading health and wellness across the Walmart enterprise. Dr. Pegus will report to Walmart U.S. CEO John Furner, and her first day with Walmart will be Dec. 21st.
VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today announced that Ajay Patel, VMware’s general manager, modern applications business unit will present at the Morgan Stanley Future of Application Development Conference on Thursday, December 10, 2020 at 10:30 a.m. PT/ 1:30 p.m. ET.
The Lamborghini Urus is being recalled due to a potential fire risk. Documents submitted on the National Highway Traffic Safety Administration’s website say the defect is due to the “integrity of the quick connector of the fuel line located in the engine compartment.” The connector may become compromised, which could result in fuel leakage.
PGIM High Yield Bond Fund, Inc. (NYSE: ISD) and PGIM Global High Yield Fund, Inc. (NYSE: GHY) declared today monthly distributions for December 2020, January and February 2021. The distribution amounts and schedule for each fund appears below:
Arco Platform Limited, or Arco (Nasdaq: ARCE), today reported financial and operating results for the third quarter of 2020 ended September 30th, 2020.
Teledyne Defense Electronics has launched a Virtual Trade Show (VTS), an immersive online experience that includes 360-degree panorama views.
If there’s one thing Alexis Sharkey’s friends and family can agree on, it’s that the 26-year-old was always with her phone and never missed a message.So when the Texas influencer with over 21,000 Instagram followers—who’d recently expressed her desire to divorce her husband of less than a year—went radio silent on Friday evening after spending Thanksgiving with friends, alarm bells went off.“I instantly knew something was off,” the 26-year-old’s best friend, who wished to remain anonymous for fear of retribution, told The Daily Beast on Monday. “She has never been known to disappear or not answer her phone. I don’t think we have ever gone more than six hours without texting.”Another friend, Mallory DeLise, said “Lex would never run off and she always had her phone as it’s how we ran our business,” referring to their marketing and social media work for the hair-care company Monat.“Her life was social media—so her phone was her life,” a third friend added.> View this post on Instagram> > A post shared by Alexis Sharkey | Mentor (@alexissharkey)Their worst fears were confirmed Sunday morning when the Houston Police Department announced the discovery of a naked body tucked away in some bushes on the side of a road about four minutes from Sharkey’s house. Hours later, authorities matched her DNA to the remains, ending a frantic two-day search for the 26-year-old that made waves on social media.“It’s with deeply broken hearts that Mike and I want to let you all know that Lexi’s body has been found. We cannot begin to thank you all for your love and the kind words you’ve extended to our family!” Stacey Robinault, her mother, wrote on Facebook Sunday night. “Please give us this time to grieve this incredible loss to our family and this world!!! We will miss you, Love!!!!”NYPD Punched, Kicked, Fatally Shot This Black Man in 2019—and Still Won’t Say WhyAuthorities have not yet provided details on how Sharkey died—pending an autopsy by the Harris County Institute of Forensic Sciences—but a police spokesperson confirmed to The Daily Beast she was found with no visible wounds and that homicides detectives are involved in the investigation.Multiple friends say the 26-year-old had a troubled relationship with her new husband, Tom Sharkey, whom she married in December.“Her and her husband were going through a divorce,” one friend said. The decision to end her marriage, the friend said, came after a girls’ trip to Mafa, Texas, last month, where Sharkey claimed her husband “had been putting hands on her.”“Throughout the trip, he was sending really awful, nasty messages to her,” the friend said. “But one night when she and I were talking alone she said, ‘He strangles me and chokes me out and I blackout and wake up on the bathroom floor every single time.’”> View this post on Instagram> > A post shared by ALLY CALE | mentor (@allycale)Two other friends also told The Daily Beast that Sharkey had complained about physical abuse and said her husband could be “controlling and manipulative” in group settings.While it’s unclear if Sharkey had actually filed paperwork to dissolve her marriage, friends said that her behavior had changed over the last month. She wasn’t posting on social media quite as much, and she always wanted “to be around her friends all the time to avoid going home.”“I know they were going through some things,” Kendra Martin, one of Sharkey’s friends, told The Daily Beast. “She had mentioned being separated even though they were still living in the same apartment. I actually pulled her aside two weeks ago to let her know I’m here for her, and that I know something is going on because her demeanor had changed over the last month.”Her hardships at home prompted Sharkey to spend Thanksgiving with her friend Tanya R. and her family. Tanya told The Daily Beast that Sharkey had “a wonderful time,” laughing and playing board games.The 26-year-old’s mom, who lives in Pennsylvania, told ABC13 she briefly spoke to her daughter on Thursday, but that the holiday “was a busy day on her end and our end so it was just one of those passing, type of ‘Love you’ things.”“Then Friday...honestly, Friday got away. [It was a] busy day. We never talked, and then she went missing Friday night and I have not seen her or heard from her since,” Robinault said.Delaware Teens Lured a Classmate Into the Woods—Then Murdered Her With a Baseball Bat: ProsecutorsSharkey’s friends said they became worried when she stopped responding to messages around 6 p.m. on Friday. Hours later, they filed a police report and contacted her parents.“Please share this post!!! My daughter, Alexis Sharkey, is missing!!” Robinault wrote on Nov. 28. “No one has heard from her for over 24 hours and the police are involved. She has lived in Houston Texas since January and that was where she was last seen. Please help us find her and bring her home safely!! We are so very desperate!!! Please share!!”Two friends said Tom told them he had gotten into an argument with Sharkey before she went missing and claimed she had “hopped over their patio fence and into a car.” https://www.facebook.com/permalink.php?story_fbid=3339531772822610&id=100002974593423Following the news that Sharkey’s body had been discovered by a city worker who had reportedly noticed feet coming out of bushes just off a highway on Saturday, her husband began posting a series of photos on social media in tribute.In one post, which included a photo of his late wife in a wedding dress, Tom Sharkey wrote: “You made life so incredible! Made sense of my existence! My purpose! And showed me how to truly love!” In another, he added: “My world! My everything! I’m so lost right now! My one and only!”Minutes later, the 49-year-old blasted all the “crap talking,” which he said was wasting time while he was trying to locate his wife. “And if my wife would of seen this she would be disappointed in your actions!” he wrote. “You all should be ashamed of yourselves! I have been assisting the deputies and making phone calls to fine out what happened to my wife. Next time.... stop and think! And realize! You don’t know it all!”The Houston Police Department has not named any suspects or persons of interest in connection with Alexis Sharkey’s death. Sharkey did not immediately respond to The Daily Beast’s multiple requests for comment.“Alexis had a beautiful, carefree spirit. I considered her a little sister to me. We met about a year ago, both of us had moved to Houston within the same month, and then our friend group began to grow,” Martin said. “She was a bright light, she had this warmth about her that was indescribable, everyone she met was drawn to her loving nature. She was always full of joy and had so much life. This girl loved her oysters and sushi dates, I think I will miss those the most. My sweet friend is missed by so many, and we will get justice for this horrible crime.”Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
This Cyber Monday, you can save on popular board games like Monopoly, UNO, chess sets and more.
Several Indigenous Canadians have been awarded the country’s highest civilian honours in the latest round of appointments. On Nov. 27, Gov. Gen. Julie Payette announced 114 new appointments to the Order of Canada. Indigenous appointees include Tom Jackson and Doreen Spence of Calgary, Alta., Thomas King of Guelph, Ont., Chief Darcy Bear of Whitecap Dakota First Nation, Sask. and Harvey Andrew McCue (Waubageshig) of Ottawa, Ont. There are three levels —Companion, Officer and Member —within the Order of Canada recognizing a lifetime of outstanding achievement and merit of the highest degrees, especially in service to Canada or humanity at large, noted the Office of the Governor-General. Jackson was born on the One Arrow Reserve near the South Saskatchewan River northeast of Saskatoon, Sask. He has led a prolific career as an actor and singer, and over the years, has supported underprivileged Canadians through his philanthropic initiatives. Previously an officer of the Order of Canada in 2000, Jackson has been promoted, companion. King has also been promoted within the Order of Canada from officer to companion. He self-identifies as being of Cherokee and Greek ancestry and is one of North America’s most acclaimed literary figures. Spence, a well-respected Cree elder advocating for peace and Indigenous people’s human rights, has been appointed officer. Bear and McCue have both been appointed members. Numerous economic and social development opportunities have resulted under Bear’s leadership as chief of the Whitecap Dakota First Nation near Saskatoon, Sask. McCue is being recognized for his contributions to the “health and well-being of Indigenous youth in Canada and his influential leadership education.” The Order of Canada was created in 1967. Recipients will be invited to accept their insignia —an iconic snowflake of six points— at a future ceremony.Rebecca Dyok, Local Journalism Initiative Reporter, The Williams Lake Tribune
Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades. The S&P 500 fell 0.5%, but the benchmark index still clocked a surge of 10.8% for November, its biggest monthly gain since April, as investors latch onto hopes that the economy will get closer to normal next year as coronavirus vaccines begin to be distributed. The Dow Jones Industrial Average, which has far less impact on 401(k) accounts than the S&P 500 does, had its best month since 1987.THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears belowU.S. stocks are pulling back from their record levels Monday, as Wall Street puts a quiet coda on one of its most rocking months in decades.The S&P 500 was 0.6% lower in afternoon trading after more reports showed how the worsening pandemic is dragging down the economy in the near term. Despite the loss, the benchmark index is still on track for a surge of 10.6% this month as investors latch onto hopes that the economy will get closer to normal next year and strengthen in the long term.The Dow Jones Industrial Average was down 359 points, or 1.2%, at 29,546, as of 2:47 p.m. Eastern time, and the Nasdaq composite was down less than 0.1%. Both are also close to their record levels, and the Dow crested the 30,000 level last week for the first time.“Today’s pullback in equities is a sidestep in a market that seems poised to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We still think the market trends higher into the new year.”Several big forces are behind this month's surge, beginning with the clearing of some of the uncertainty that had dogged markets leading into the U.S. elections. Now, Democrat Joe Biden is firmly in place as the president-elect in Wall Street’s eyes, and investors have avoided their worst-case scenario of weeks or months of limbo with an unknown winner.Investors also found encouragement in prospects that Washington will remain under divided political control. Republicans are on track to hold onto control of the Senate if they can win one of two upcoming runoff elections in Georgia. A split government would mean low tax rates and other pro-business policies could remain the status quo.But the turbocharger for the market’s move higher has been a huge dose of hope as pharmaceutical companies come closer to delivering vaccines to a world beaten down by the COVID-19 pandemic. Several have reported encouraging data recently suggesting their vaccine candidates are highly effective.“Vaccines offer the promise that the major disruptions of the pandemic will fade from the scene in 2021,” said Stephen Innes, chief global market strategist at Axi. “Economic life will gradually heal; the world will start to move on from all the human suffering that the virus has wrought.”Moderna said it would ask U.S. and European regulators Monday to allow emergency use of its COVID-19 vaccine. Its shares jumped 17.5%Moderna follows Pfizer and German partner BioNTech in seeking to begin vaccinations in the U.S. in December. British regulators also are assessing the Pfizer shot and another from AstraZeneca.That’s helped the stock market’s rally broaden out. Early in Wall Street's recovery this spring, it was Big Tech that almost singlehandedly carried the market higher on expectations that work-from-home and other trends would mean bigger profits for them. But hopes for a more widespread economic recovery are now boosting stocks of companies whose profits are more closely tied to the economy’s strength.Energy stocks in the S&P 500 are on pace to end November with a nearly 30% gain. It’s a sharp turnaround from earlier this year, when oil prices plunged as the pandemic kept airplanes, trucks and factories around the world idled or slowed.Financial stocks have also been big winners on expectations that a stronger economy will create a stronger job market and higher interest rates. That could mean more people paying back loans made at more profitable rates for banks. The smaller stocks in the Russell 2000 index, meanwhile, are on track to close out November with a roughly 19% surge.Many of those stocks, though, were giving back some of their big gains Monday following discouraging economic reports and as investors locked in some profits from their big recent gains. Apache lost 5.2%, American Airlines fell 4.6% and the Russell 2000 dropped 1.7%.Many of the gains in November were justified by the good news from vaccine development, but markets will likely see more churning ahead, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.“You'll see a diminishing impact from vaccine-related news and much more focus on when the economic recovery will take hold in a more organic way,” she said.A report on Monday morning showed that growth in business activity in the Chicago area slowed more than economists expected. A separate report said that the pace of pending sales of homes was slower in October than expected. They’re the latest data to suggest the resurgent pandemic is dragging on the economy, including a pickup in layoffs.With coronavirus counts and hospitalizations surging across the United States, Europe and elsewhere, governments are bringing back varying degrees of restrictions on businesses. An additional worry for markets is that the worsening pandemic will keep customers hunkered at home regardless of what kind of stay-at-home orders arrive. Experts are warning of a potentially brutal winter.IHS Markit jumped 6.4% for Monday's biggest gain in the S&P 500 after S&P Global said it would buy the data provider in a deal valued at $44 billion, including $4.8 billion of debt. S&P Global rose 2.2%.European and Asian markets ended broadly lower. The yield on the 10-year Treasury ticked up to 0.84% from 0.83% late Friday.___AP Business Writer Yuri Kageyama contributed.Stan Choe, Damian J. Troise And Alex Veiga, The Associated Press
The pandemic is new, but some of these concepts are old. Winning teams tend to avoid penalties, especially dumb ones. They play smart and together. They don’t beat themselves.
Converse, Indiana, Nov. 30, 2020 (GLOBE NEWSWIRE) -- In the early stages of the COVID-19 response, First Farmers Bank & Trust launched a community program throughout its 36-location branch footprint to provide sustained support to organizations at risk from a funding standpoint. The Growing Good program featured three distinct elements aimed to connect and strengthen existing support networks and provided monetary support to organizations and individuals in need. Direct funding commitments to community foundations throughout Indiana and Illinois resulted in over $85,000 in donations to feed families in need and other considerations. Through the “Pigs to People to Pork” initiative, the organization was able to partner with pork producers, local processors, and Hoosiers Feeding the Hungry to provide over 20,000 pounds of frozen ground pork protein to food banks and rescue missions in both states. Finally, the “In this Together” initiative featured branch employee participation and contributions in all markets assisting EMS/first responders, police & fire departments, healthcare heroes, postal workers and humane shelter volunteers. In total through October, over $370,000 in direct assistance has been distributed to organizations placed in funding crises as a direct result of COVID-19.“The board of directors and executive leadership team recognized that there would be an immediate funding impact to not-for-profit entities falling outside of federal program support. There was also immediate recognition of the supply chain disruption on protein distribution to food banks and direct meal assistance. We’re grateful that we could work directly with local entities to meet both the emergent needs and sustained challenges throughout the year. We’re still seeing new challenges come up in a variety of areas that are a result of massive changes to production and distribution processes. We’ll continue to look for more ways to help our communities because the overall impact is far from over.” -Tade J Powell, Sr. Vice President, Communications & Public Relations DirectorFirst Farmers Financial Corp is a $2.1 billion financial holding company headquartered in Converse, Indiana. First Farmers Bank & Trust has offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Sullivan, Tippecanoe, Tipton, Vigo and Wabash counties in Indiana and offices in Coles, Edgar and Vermilion counties in Illinois. First Farmers Financial Corp is traded on the OTC Markets Group, Inc. "OTCQX" exchange under the ticker symbol: FFMR. CONTACT: Tade J Powell First Farmers Bank & Trust 765-293-4162 firstname.lastname@example.org
Tinley’s™ ’27 elixirs Coconut Cask, Cinnamon Cask and Almond Cask, which will be manufactured by Peak in Canada (California packaging shown) Tinley’s™ ’27 elixirs Coconut Cask, Cinnamon Cask and Almond Cask, which will be manufactured by Peak in Canada (California packaging shown)THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS. LOS ANGELES and TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- The Tinley Beverage Company (CSE:TNY, OTC:TNYBF) (“Tinley’s”) is pleased to announce that it has entered into an agreement with Peak Processing Solutions, a Canadian subsidiary of Australian pharmaceutical company Althea Group Holdings Limited (ASX:AGH) (“Peak” and “Althea” respectively), to produce Tinley’s ’27 products in Canada. Tinley’s ’27 is the second family of cannabis-infused products that Tinley’s has contracted to launch in Canada, the other being the single-serve ready-to-drink sparkling elixirs now made in California as Tinley’s Tonics.Peak’s equipment is uniquely configured to produce and pack in the 150 mL bottle format that Tinley’s will use for the Tinley’s ’27 drinks in Canada. The discrete, convenient container size permits easy use and mixing at home or at private functions with friends and colleagues. Under the Agreement, Peak holds exclusivity for the manufacture and distribution of these three Tinley’s products in Canada until Tinley’s meets certain minimum orders.Late last year, Tinley’s won the coveted Gold and Silver awards in California’s Emerald Cup, the largest cannabis competition in the world. The products being produced by Peak include the Canadian version of award-winning Coconut Cask, a Caribbean coconut elixir. Other products include an Italian-inspired, almond, apricot and vanilla elixir and a cinnamon-barrel elixir. All contain a scientifically-advanced emulsion that enables consumers to enjoy an uplifting, broad-spectrum effect with rapid onset. The technology also enables consistent dosing, even dispersion of active material throughout the product, and shelf stability.The source provider of this cannabis emulsion has completed production and testing of the batch that will be used in these products. Non-cannabis ingredients were shipped from Tinley’s California facility and certain local suppliers last week. Peak is therefore able to begin testing and other Health Canada-mandated preparatory work immediately. The products will be substantially the same in Canada as in California, with requisite packaging, labelling and dosing changes.As previously disclosed, the Company’s sales agent, Great North Distributors, has begun initial conversations with certain provincial cannabis boards, and it believes there will be significant interest from at least two notable buyers. The Company is working diligently to make the products available throughout Canada.The Tinley’s ’27 brand pays homage to the year 2727 BC, the earliest recorded use of medical cannabis.“The Agreement with Tinley’s is yet another key milestone for Peak. We are very excited to be working with Tinley’s to manufacture and distribute their market leading products in Canada and we look forward to building a long-term relationship with them. The addition of the Tinley’s agreement to Peak’s growing list of contracts increases our 12 months expected revenue yet again,” said Josh Fegan, CEO of Althea.“The Agreement with Peak is an exciting step for our company as we seek to further drive geographic expansion through launch of our second product family in the Canadian market. Peak’s facility and team of professionals deliver the world class standard of Cannabis 2.0 co-packing services that we strive to provide at our own licensed co-packing facility in Long Beach, California,” said Richard Gillis, President of Tinley California. “Peak’s team has already demonstrated expert capabilities with the depth and rigor required to produce our sophisticated formulations in a compliant and consistent manner. Our team is confident that they can support the growth and scalability we anticipate requiring to execute in Canada’s booming infused drink category in the months and years to come.”About The Tinley Beverage Company Inc. and Beckett’s Tonics CaliforniaBeckett’s Tonics California, a subsidiary of The Tinley Beverage Company, created the Beckett’s Tonics™ and Beckett’s ’27™ line of liquor-inspired, terpene-infused, non-alcoholic beverages. Beckett’s™-branded products are available in mainstream food, beverage and specialty retailers, as well as on-premises locations, primarily in California. The cannabis-infused versions of these products are available under the Tinley’s™ Tonics and Tinley’s™ ’27 brands in licenced dispensaries and delivery services throughout California. The Company is working to launch the full product line in Canada. The Company has also built a 20,000 square foot cannabis beverage manufacturing facility in Long Beach, California.About Althea Group Holdings Limited Althea is an Australian licensed producer, supplier and exporter of pharmaceutical grade medicinal cannabis and is listed publicly on the Australian Securities Exchange (ASX:AGH). Althea also offers a range of products, education, access and management services to support eligible patients and healthcare professionals in navigating medicinal cannabis treatment pathways. Althea currently operates within highly regulated medicinal cannabis markets including Australia and the United Kingdom, with plans to expand into Germany, emerging markets throughout Asia and other parts of Europe. To learn more, please visit: www.althea.lifeForward-Looking StatementsThis press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.Products, formulations and timelines outlined herein are subject to change at any time.For further information on The Tinley Beverage Company, including media inquiries, please contact:The Tinley Beverage Company Inc. email@example.com Twitter: @drinktinleys and @drinkbecketts Instagram: @drinktinleys and @drinkbecketts www.drinktinley.com www.drinkbecketts.com OTC:TNYBF CSE:TNYA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/703190e0-92d2-40a9-afd1-22661559e9c3
(Bloomberg) -- Oil’s rally above $45 a barrel hit the brakes on Monday after OPEC talks ended without a clear stance on whether to delay an output increase in January.Futures extended losses after closing 0.4% lower in New York following news that members of the cartel rescheduled a meeting with allies to Thursday. Further talks were needed after members failed to reach an agreement among themselves. This month’s price jump has some countries questioning the need to extend production curbs that are set to expire.“Our expectations is that they do roll the cuts forward into mid-next year, but the ground is shakier, and like always, it’s about what is Saudi thinking,” said Vikas Dwivedi, a global energy strategist for Macquarie Group Ltd in Houston. “As price goes up, it’s going to be a lot more tempting for countries to try and put more production on the market.”Despite the OPEC+ tension, U.S. benchmark crude rose 27% in November, the biggest monthly increase since May, after Moderna Inc. offered the latest in a string of Covid-19 vaccine breakthroughs that are buoying the outlook for a fuel consumption rebound.Failure by OPEC+ to agree on extending output curbs would see producers restore about 1.9 million barrels a day in supply, potentially pushing the global market back into surplus at a time when demand remains depressed due to the pandemic. The alliance has been widely expected to maintain the current output level.“Getting the OPEC participants to agree shouldn’t necessarily be a tall order,” said Tom Finlon of GF International, but it doesn’t account for the rising production from Iran, Libya and Venezuela, which are exempt from the agreement. With the extra supply “in the face of coronavirus when U.S. gasoline demand is closer to 8 million barrels a day than 9 million barrels, you can’t keep the market up this high.”While a majority of OPEC watchers are expecting a three-month delay to the planned output increase, a recent price rally may complicate talks. Some producers such as Iraq -- which is seeking cash upfront for a long-term crude-supply contract -- are keen to pump more. Six of the 10 countries bound by the production agreement had not implemented their cuts in full by the end of October, according to a table prepared for the JMMC meeting.Algerian energy minister Abdelmajid Attar, who holds OPEC’s rotating presidency, said at the start of Monday’s talks that the road to recovery may be long and bumpy, urging the producer group to be cautious in the first quarter. Additionally, Saudi Arabia said it’s mulling resigning as co-chair of the OPEC+ Joint Ministerial Monitoring Committee.The recent rally in headline crude prices has been accompanied by a swift reshaping of oil’s forward curve. The spread between WTI’s nearest December contract began trading at a premium last week to the December 2022 contract. The bullish structure, known as backwardation, signals growing market expectations for the supply and demand balance to improve further out.Meanwhile, China is continuing its robust rebound from the virus-induced crash. Alongside strong manufacturing data, at least one fuel supplier is gearing up for an expected surge in air travel ahead of the Lunar New Year holiday in February. However, Indian diesel sales are slipping again, with a festive-season demand boost proving fleeting.Yet, the pace of demand recovery has varied across the world. In the U.S., gasoline demand last week was down by more than a quarter year-over-year, according to GasBuddy, as the country’s Thanksgiving holiday failed to coax Americans back onto the road. Meanwhile, Turkey announced a nationwide weekday curfew as cases surge across Europe.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The singer has had to deal with body shamers frequently throughout her career