Oil Extends Losses Ahead Of OPEC+ Meeting

Oil prices fell on Wednesday as investors await cues from a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, on Thursday.

Brent crude futures for June settlement dropped 0.4 percent to $63.92 per barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 0.4 percent at $60.30.

As coronavirus infections continue to rise globally and amid new pandemic lockdowns, the oil cartel is expected to take call on production cuts during the meeting.

It is widely expected that OPEC+ will stick with its tight production curbs for another month to safeguard the recovery in prices.

Ahead of the decision, OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market’s recovery.

Meanwhile, the American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 3.9 million barrels for the week ended March 26, compared with expectations for a much smaller inventory build of 107,000 barrels.

Data on U.S. inventories are due from the U.S. Energy Information Administration later in the day.

Walgreens Boots Alliance Raises Earnings Guidance

Walgreens Boots Alliance, Inc. (WBA) increased fiscal 2021 guidance to mid-to-high single digit growth in constant currency adjusted EPS from both total and continuing operations. Previous guidance was for low single-digit growth.

Second quarter continuing operations adjusted EPS decreased 10.1 percent to $1.26, down 10.8 percent on a constant currency basis, reflecting an estimated adverse COVID-19 impact of 40 to 45 cents per share. EPS from continuing operations increased 8.7 percent to $1.06. Net earnings from continuing operations increased 6.3 percent to $922 million.

Second quarter sales increased 4.6 percent to $32.8 billion, up 3.5 percent on a constant currency basis.

Ever-Glory FY Profit Rises

Ever-Glory International Group Inc. (EVK) reported that its net income attributable to the company for the full year of 2020 rose to $3.3 million or $0.22 per share from $1.3 million or $0.09 per share for the full year of 2019.

Income from operations for the full year of 2020 increased by 19.5% to $4.1 million from $3.5 million for the full year of 2019.

Annual total sales were $267.4 million, a decrease of 30.2% from $383.1 million in the full year of 2019. The decrease was primarily driven by a 39.9% decrease in our wholesale business and a 20.1% decrease in retail business.

China asks banks, internet firms to clearly disclose annualised interest rates for all loan products

BEIJING, March 31 (Reuters) – China’s central bank asked financial institutions on Wednesday to clearly disclose annualised interest rates for all loan products, in order to enhance consumer protection.

The notice also asked other entities – including deposit-taking institutions, auto loan companies, consumer finance companies, micro loan firms, as well as internet platforms that advertise loan products – to disclose these rates.

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Three cops injured after breaking up huge crowds filmed fighting and drinking

Ronny Chieng’s 2016 Takedown Of Fox News’ Anti-Asian Bit Goes Viral Again

Comedian and “Daily Show” correspondent Ronny Chieng minced no words before the 2016 election when he shut down the “idiocy” of a racist Fox News segment about Asian Americans.

Five years later, Chieng’s commentary on Fox News personality Jesse Watters’ offensive report on Chinatown in New York is now going viral again after being reshared online in light of a spike in anti-Asian violence in the United States.

In the bit, Chieng expresses his astonishment at Watters’ propagation of racist stereotypes and the way he mocks people who don’t speak English.

“What the hell was that? How was that on the news?” Chieng asks of Watters’ segment, which aired on the now-defunct show “The O’Reilly Factor” (host Bill O’Reilly left Fox News in disgrace in 2017).

“Where the fuck did this come from?” Chieng continues, calling Watters an “ignorant sack of shit.”

“Fuck this guy,” he adds.

Watch the video here:

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