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Oil futures rose Friday, with the U.S. benchmark on track for a weekly gain as investors turn their attention toward production cuts by major oil producers and demand shows early signs of recovery with business lockdowns globally beginning to be lifted. “The market focus is increasingly shifting to supply as many OPEC+ members meet or …

Lab scientists work to validate rapid IgM/IgG antibody tests of samples from recovered COVID-19 patients on April 10 in Brooklyn, N.Y. Misha Friedman/Getty Images hide caption toggle caption Misha Friedman/Getty Images Lab scientists work to validate rapid IgM/IgG antibody tests of samples from recovered COVID-19 patients on April 10 in Brooklyn, N.Y. Misha Friedman/Getty Images …

Asia Pacific stocks were mixed in Monday afternoon trade as China cut its benchmark lending rate. Mainland Chinese stocks were higher by the afternoon. The Shanghai composite gained 0.3% while the Shenzhen composite edged 0.654% higher. That came as China cut its one-year loan prime rate to 3.85% from 4.05%. The five-year loan prime rate was …

A summary of the latest developments. US President Donald Trump is cutting funding to the World Health Organization (WHO) over its handling of the pandemic. The US is the biggest contributor to the WHO budget. The number of people dying from coronavirus in the US rose by at least 2,228 …

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russian Energy Minister Alexander Novak at the start of an OPEC and NON-OPEC meeting in Vienna, Austria, December 6, 2019. Leonhard Foeger | Reuters Some of the world’s largest oil producers will hold an emergency meeting on Thursday to try to agree on historic …

Earlier this year, the United States and other countries gave the rebels an ultimatum to meet benchmarks or risk losing some assistance. But only the United States, one of the biggest donors, threatened to halt all funding in Houthi-controlled areas if the rebels failed to meet more than a dozen requirements by Friday, humanitarian officials …

At its emergency March monetary policy meeting held on Thursday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.25%, as widely expected. The Australian central bank announces a term funding facility for the banking system, with particular support for credit to small and medium-sized …

This is breaking news. Check back here for updates. The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to near-zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the …

Saudi Arabia slashed its export oil prices over the weekend in what is likely to be the start of a price war aimed at Russia but with potentially devastating repercussions for Russia’s ally Venezuela, Saudi Arabia’s enemy Iran and even American oil companies. The Saudi decision to cut prices by nearly 10 percent on Saturday …

US preparedness to deal with the threat of coronavirus has been hampered by the personnel and budget cuts made by the Trump administration over the past three years, according to health experts. There is no one in the White House tasked specifically to oversee a coordinated government-wide response in the event of a pandemic, since …