August 3, 2020

Coronavirus latest: Italian and Spanish economies show signs of recovery

Adam Samson

Refiner Marathon sinks to loss as US fuel demand dries up

Derek Brower and Myles McCormick

Marathon Petroleum Corp, the US’s biggest independent refiner, reported an adjusted loss of $868m in the first quarter, down from a $1.2bn profit a year ago, as demand for fuel in the world’s largest market remained depressed due to the coronavirus pandemic.

The company, which on Sunday announced its plan to sell its Speedway retail unit to Seven & i in a $21bn all-cash deal, also reiterated its intention to “indefinitely idle” its Gallup and Martinez refineries and potentially convert one of them to renewable diesel.

“Our second-quarter results reflect a full three months of the challenges Covid has created for our business,” said Michael Hennigan, Marathon’s chief executive. “We began April with demand at historic lows. Despite seeing some recovery during the quarter, demand for our products and services continues to be significantly depressed.”

Before adjustments, second-quarter income came in at $9m, including a net pre-tax benefit of $1.4bn, Marathon said. It added that it was on track to meet a target to reduce capital spending this year by $1.4bn and cut operating costs by $950m.

Total revenues

…
August 3, 2020 by Blog article

WHO says no ‘silver bullet’ to coronavirus and ‘there might never be’

A man checks a mainboard at an assembly line to produce ventilators amid the spread of the coronavirus disease (COVID-19) at Vsmart factorty of Vingroup outside Hanoi, Vietnam August 3, 2020.

Kham | Reuters

The World Health Organization said Monday there may never be a “silver bullet” for the coronavirus even as scientists and drugmakers across the globe race to find a safe and effective vaccine.

Scientists have made progress in identifying treatments that can help people with the most severe forms of Covid-19, and a number of vaccines are in late-stage trials, WHO Director-General Tedros Adhanom Ghebreyesus said during a press conference from the agency’s Geneva headquarters. “However, there is no silver bullet at the moment and there might never be.”

There are no-FDA approved drugs for the coronavirus, which has infected more than 18 million people worldwide and killed at least 689,625, according to data compiled by Johns Hopkins University. 

In May, the FDA granted antiviral drug remdesivir an emergency use authorization, allowing hospitals and doctors to use the drug on patients hospitalized with the disease even though the drug has not been formally approved by the agency. The FDA has also said it is looking at dexamethasone,

…
August 3, 2020 by News

Monetary Modeling Programs & Training

Small business loans are a super monetary possibility for small business owners. The most important task of an underneath developed economies is to interrupt the lure of vicious circles of poverty. Then solely the financial system can grow. The big push concept is states that, beneath developed economies are in pressing of heavy investments in its totally different sectors. This may push the financial system in to a higher developed stage from underneath developed situations. The idea also states that, low fee of investment in a single trade is not going to create any impacts within the economic system. So will probably be wastage. As a result of low charge of funding in a single industry can’t influence the economic system as an entire and can’t capable of break the trap of vicious circles of poverty, unemployment, low productiveness, low earnings and so on.

This text studies the relationship between the degree of banking sector stability and the following evolution of actual output growth and inflation. Adopting a panel VAR methodology for a sample of 18 OECD countries, we discover a constructive link be-tween banking sector stability and real output progress. This finding is predominantly driven by intervals of instability …

August 3, 2020 by Human Resource

Categories