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Tesla to leave California, Musk tweets

Via a tweet, the CEO of the automobile manufacturing giant Tesla, Elon Musk, said Saturday that the company is in the process of filing a lawsuit against Alameda County and will shift its headquarters and future operations out of California.  On Friday, Alameda County’s interim public health officer, Dr. Erica Pan, stated that orders from…
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European markets heading for lower opening amidst US lockdown lifting

On Wednesday, European stocks are expected to open lower as investors are focusing on the progressions in the U.S. after the country made the decision to lift the lockdown restrictions, and oil prices that have fallen again. London’s FTSE is observed opening 34 points below at 5,818 whereas Germany’s DAX is seen 94 points lower…
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100,000 Americans may die from Coronavirus, says Trump

On Sunday, the U.S. President Donald Trump stated that he believes about 100,000 Americans could die due to the ongoing coronavirus pandemic. He stated so after the death toll surpassed his earlier predicted number of his estimates, but said he was optimistic that a vaccine would be developed by the end of this year. The…
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Florida governor to ease coronavirus restrictions

Florida Governor Ron DeSantis on Wednesday decided to reveal his plan for dialing down the restrictions on businesses in his state, after data showed the U.S. economy has collapsed 4.8% in the first quarter due to the shutdowns in order to fight the coronavirus pandemic. According to Commerce Department data, the U.S. economy slipped at…
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Oil drops 25%

U.S. oil prices descended 25% on Monday over assumptions that worldwide storage will soon be full as the ongoing coronavirus pandemic continues to make a negative impact on the demand. West Texas Intermediate for June delivery plunged 25%, or $4.27, to trade at $12.71 per barrel, whereas the international benchmark Brent crude traded 6.2% lower…
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US oil prices are on their way for their worst day ever

On Monday U.S. oil prices were on track for their worst day on record as a result of the crude storage facilities filling fast amidst the ongoing coronavirus pandemic continues to heavily impact the demand. As reported by CNBC, the May contract of U.S. West Texas Intermediate (WTI) futures dropped to $10.52 per barrel on…
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Wall Street surges 2%

Wall Street ascended more than 2% on Tuesday with the hope of some economies would dial down the strict coronavirus-induced lockdowns. Meanwhile, the investors are anticipating quarterly earnings from JPMorgan and Johnson & Johnson to understand the impact of the current pandemic on the business. There was a 4.3% jump for the tech giant Apple…
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OPEC+ to discuss the next phase of oil production amidst the Coronavirus pandemic

Some of the world’s largest oil producers have decided to have an emergency meeting on Thursday in order to discuss and agree on output cuts amidst the ongoing coronavirus pandemic which continues to heavily affect the worldwide demand for crude. OPEC+ members are scheduled to hold talks via video-link from 4 p.m. Vienna time to…
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China has decided to donate 1000 ventilators to aid New York

The Chinese government has decided to donate 1,000 ventilators to New York state amidst the ongoing Coronavirus pandemic, according to New York Gov. Andrew Cuomo who stated so on Saturday. The shipment is supposed to arrive at John F. Kennedy International Airport on Saturday. “This is a big deal, and it’s going to make a…
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A deal with Saudi and Russia has been brokered for huge oil cuts, says Trump

On Thursday, the President of the US Donald Trump stated that he had initiated a deal with top oil producers Russia and Saudi Arabia in order to cut output and arrest an oil price rout amidst the ongoing pandemic caused by the catastrophic Coronavirus. The news sent crude prices up by 45% Reuters reported.President Trump…
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