OPEC Extends Forecast for Decline in Global Oil Demand

The economic hit from the coronavirus pandemic will hurt global energy demand harder and for longer than previously feared, the Organization of the Petroleum Exporting Countries said. 


 
U.S. Stock Futures Point to Gains on Wall Street

Shares of Oracle soared around 7% before the New York opening bell as investors cheered its deal with video-sharing app TikTok. 


 
U.S. Coronavirus Infections Fall From a Day Earlier

The World Health Organization reported 307,930 new infections in the preceding 24 hours, its highest single-day increase yet and up from the 306,857 new cases it logged a week earlier. 


 
Gilead's $20 Billion Gamble

A big premium for cancer drug company Immunomedics could pay off, but shareholders of slumping Gilead might be in no rush to act that way. 


 
In Turkey, Weak Lira Powers Fresh Gold Rush

Turks are piling into gold, long their favorite investment, as the country's financial system unravels. The average daily volume of gold sold at the Grand Bazaar in Istanbul shot up to 4,500 pounds from about 450 pounds. 



  The London Stock Exchange seeks to ignite initial public offerings of so-called blank-check companies, which are surging in the U.S. 

 
Why Fed Officials Are Pushing for More Stimulus 
 


  Central bankers want more stimulus from Congress because new research says spending, not lower rates, would do more to prevent deeper economic scars among the unemployed, businesses and state governments from the pandemic. 

 
Italy Seeks Economic Rebirth With EU Coronavirus Recovery Money 
 


  For Europe, much now hinges on whether Italy can find a useful way to spend roughly EUR200 billion in EU grants and cheap loans. 

 
China's New Financial Rules to Cover Jack Ma's Ant Group 
 


  The People's Bank of China said firms that operate two or more financial businesses in the country will be classified as financial-holding companies. 

 
China Serves Up Pig-Backed Loans for Its Hogtied Farmers 
 


  China is so desperate to rebuild pig herds after swine fever that its banks are experimenting with loans to farmers backed by a novel asset: their hogs.