Delta Airlines posts worst loss since 2008
Delta Air Lines posted its worst loss since 2008, and it warned that bookings are declining as Covid-19 cases rise, forcing the airline to trim its schedule again. The company had planned to add 1,000 flights a day to its August schedule as Delta reported a modest pickup in bookings. The airline said it lost $2.8 billion, excluding special items. Including those items, Delta's net loss came to $5.7 billion
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Gold prices dropped 6%, the worst single-day decline in seven years
Gold prices fell more than 6% yesterday, the worst one-day decline in seven years as investors’ risk appetite returned, boosting U.S. stocks. Spot gold tumbled as much as 6% to $1,927.30 per ounce, down sharply from Friday’s record intraday high of $2,089.20. On Wednesday morning during Asia hours, spot gold fell further, last trading at $1880.16
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Bank of England holds interest rate at 0.1%
In an important announcement on Thursday, the Bank of England held interest rates steady and maintained its existing level of asset purchases, as investors watched for signs that it is anticipating a slower economic recovery. The main lending rate was kept at 0.1%, as the central bank cut rates twice from 0.75% since the beginning of the coronavirus pandemic
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Moderna, Pfizer Start Decisive Covid Vaccine Trials
Moderna Inc and Pfizer Inc launched two 30,000-subject trials of COVID-19 vaccines that could clear the way for regulatory approval and widespread use by the end of this year, the companies said on Monday. The trials, both announced on Monday, are the first late-stage studies supported by the Trump administration's effort to speed development of measures against the novel coronavirus.
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Gold shatters all previous records to reach $1943 per ounce
Gold prices broke all previous records on Monday morning as political tensions between China and the US escalated. In the morning of Asian trading hours on Monday, spot gold traded at about $1,931.11 per ounce after earlier trading as high as $1,943.9275 per ounce. Those levels eclipsed the previous record high price set in September 2011. Coronavirus crisis also played a major role in the recent price action
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