WORLDWIDE : HEADLINE
Global coronavirus deaths top half a million
SYDNEY/BEIJING – The death toll from COVID-19 reached half a million people on Sunday, according to a Reuters tally, a grim milestone for the global pandemic that seems to be resurgent in some countries even as other regions are still grappling with the first wave.
The respiratory illness caused by the new coronavirus has been particularly dangerous for the elderly, although other adults and children are also among the 500,000 fatalities and more than 10 million reported cases.
While the overall rate of death has flattened in recent weeks, health experts have expressed concerns about record numbers of new cases in countries like the United States, India and Brazil, as well as new outbreaks in parts of Asia.
More than 4,700 people are dying every 24 hours from COVID-19-linked illness, according to Reuters calculations based on an average from June 1 to 27.
Full coverage : REUTERS
WORLDWIDE: BUSINESS
Nissan CEO repeats pledge to step down if he fails to deliver recovery
TOKYO – Nissan Motor Co (7201.T) Chief Executive Makoto Uchida told shareholders on Monday that he would stick to his promise to step down as eader if he fails to deliver on his turnaround plan for the Japanese automaker.
“At the last extraordinary shareholders meeting … I said that if Nissan’s performance does not improve, please fire me,” Uchida told shareholders at the company’s general meeting.
“This policy remains unchanged.”
Uchida, who took over as head of Nissan in December, was addressing shareholders after the automaker last month reported its first annual loss in 11 years.
Full coverage : REUTERS
Oil prices drop for second straight session as coronavirus spike cools demand hopes
SINGAPORE – Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt fuel demand.
Brent crude LCOc1 dropped 72 cents, or 1.8%, to $40.30 a barrel by 0231 GMT, while U.S. crude CLc1 was at $37.82, down 67 cents, or 1.7%.
Brent crude is set to end June with a third consecutive monthly gain after major global producers extended an unprecedented 9.7 million barrels per day supply cut agreement into July, while oil demand improved after countries across the globe eased lockdown measures.
However, global coronavirus cases exceeded 10 million on Sunday as India and Brazil battled outbreaks of over 10,000 cases daily. New outbreaks are reported in countries including China, New Zealand and Australia, prompting governments to impose restrictions again.
Full coverage : REUTERS
Asia stocks wary as coronavirus threatens economic reopening
SYDNEY (Reuters) – Asian share markets began the week with a cautious tone on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the U.S. dollar.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6% and further away from a four-month top hit last week. Japan’s Nikkei shed 1.3% and Chinese blue chips 0.6%.
In a more promising sign, E-Mini futures for the S&P 500 recouped their early losses to edge up 0.3% and EUROSTOXX 50 futures added 0.2%. FTSE futures dipped 0.2%.
Wall Street had faltered on Friday as some U.S. states reconsidered their reopening plans. The global death toll from COVID-19 reached half a million people on Sunday, according to a Reuters tally.
Full coverage : REUTERS
Vietnam second-quarter GDP growth slows to 0.36% due to coronavirus pandemic
HANOI – Vietnam’s economic growth in the second quarter fell to its slowest pace in decades due to the impact of the coronavirus pandemic.
Gross domestic product in the April-June period grew 0.36% from a year earlier, compared with an expansion of 6.73% in the same period last year, the government’s General Statistics Office said in a statement on Monday.
“The complicated development of the COVID-19 pandemic has left a negative impact on all socio-economic aspects,” the GSO said.
The services sector in the second quarter contracted 1.76% from a year earlier, while the industrial sector rose 1.38% and the agriculture sector was up 1.72%, the GSO said.
Full coverage : REUTERS
