Oil briefly fell past the psychologically important US$50 a barrel mark as hopes for an extraordinary Opec+ meeting to decide on further production cuts to deal with the demand hit from the coronavirus diminished. The group, known as OPEC+, has been implementing cuts of 1.2 million bpd since January 2019. The group had been discussing possibly moving up its March meeting to February due to the demand destruction caused by the coronavirus.
But only about 10 percent of the workforce - or about 16,000 people - were reportedly able to return to their jobs. Sure, businesses and production are resuming but I wouldn't expect social activities to return back to normal any time soon and most citizens - if not all - will just stock up on supplies and return home after work.
It also adjusted its total 2019 data, saying employers added 2,108,000 to 2,096,000 - a downward revision of 12,000 jobs . Public policy can animate both, but nevertheless, the building blocks of the economy simply don't stack up (at this point) to the blockbuster numbers that the president has claimed.
Cathay said that as required by the Hong Kong health authorities, it was distributing health declaration forms and will be making face masks and antiseptic wipes available at the boarding gate to passengers traveling from Wuhan to Hong Kong.
However, as highlighted in reports, Beijing could invoke a disaster-related clause in the trade deal, which might allow it to avoid repercussions even if it cannot fully meet the targeted purchases of USA goods and services for 2020. The White House has also sparred with other trading partners, including the European Union, Brazil and Argentina, accusing them of devaluing their currencies at the expense of US manufacturers.
The dead victims included at least eight gendarmerie personnel, three security guards, three firefighters and nine civilians, according to Van Governor Mehmet Emin Bilmez . AFAD said that 59 of its search and rescue experts were dispatched to the area initially. Interior Minister Suleyman Soylu told reporters that 11 rescuers' bodies were retrieved from the snow.