Day: September 4, 2020

Oil slips below $44, heads for weekly drop on demand concerns

A man walks on a path in front of an oil derrick near the Huntington Beach Oil Fields on April 20, 2020 in Huntington Beach, California.

Michael Heiman | Getty Images

Oil slipped below $44 a barrel on Friday and was on course for its biggest weekly decline since June as weak demand figures added to concern over a slow recovery from the COVID-19 pandemic.

A U.S. government report showed that domestic gasoline demand fell in the latest week. Middle distillates inventories at Asia’s Singapore oil hub have soared above a nine-year high, official data showed..

Brent crude, the international benchmark, fell 41 cents, or 0.9%, to $43.66, heading for a 3% drop this week. West Texas Intermediate slipped 41 cents, or 1%, to $40.96, set for its first weekly drop in five.

“The bigger market picture is overall bearish sentiment that kicked off with lower gasoline demand reports

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Merkel Government in Focus as Lawmakers Push Wirecard Probe

(Bloomberg) — German lawmakers plan to start an in-depth investigation into Wirecard AG’s collapse after key officials from Chancellor Angela Merkel’s government and financial watchdogs failed to put an increasingly political issue to bed.



a close up of a sign: VIENNA, AUSTRIA - AUGUST 27: Traffic is reflected in the office door sign of bankrupt and scandal-ridden German payments processing company Wirecard on August 27, 2020 in Vienna, Austria. Wirecard AG, once listed in the DAX index and heralded as a tech startup marvel, has completely collapsed following revelations that its accounting was fraudulent. Former board member Jan Marsalek is on the run and some media report he has fled to Russia. The debacle has also tarnished accounting firm Ernst and Young as well as German financial overseer Bafin, both of whom failed to detect Wirecard's massive financial irregularities. (Photo by Thomas Kronsteiner/Getty Images)


© Photographer: Thomas Kronsteiner/Getty Images Europe
VIENNA, AUSTRIA – AUGUST 27: Traffic is reflected in the office door sign of bankrupt and scandal-ridden German payments processing company Wirecard on August 27, 2020 in Vienna, Austria. Wirecard AG, once listed in the DAX index and heralded as a tech startup marvel, has completely collapsed following revelations that its accounting was fraudulent. Former board member Jan Marsalek is on the run and some media report he has fled to Russia. The debacle has also tarnished accounting firm Ernst and Young as well as German financial overseer Bafin, both of whom failed to detect Wirecard’s massive financial irregularities. (Photo by Thomas Kronsteiner/Getty Images)

The Greens will back other opposition

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Unemployment insurance doesn’t cover rent in most cities, study shows

During the coronavirus pandemic, millions of Americans applied for unemployment insurance — and quickly realized that it didn’t even cover rent.

Unemployment insurance does not cover the average two-bedroom apartment rent cost in three out of every four metros in the U.S. — and it doesn’t even cover the average studio apartment rent cost in 35% of metros, according to data by Clever, a Missouri-based real estate agent matching platform. Clever used the midpoint between the maximum and minimum unemployment insurance benefits in each state to calculate income, which ranged from $30 a week in Mississippi to $1,234 a week in Massachusetts.

The biggest thing right now is that there’s so many restrictions in place. A lot more people are furloughed or unemployed because of that,” said Francesca Ortegren, a data scientist at Clever. “Who knows how long this is going to last… living on unemployment insurance for more

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