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Oil prices set for the worst daily drop since April

Oil prices slumped on Thursday, dragged down by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year. Brent crude LCOc1 futures erased Wednesday’s gains, falling 6.6%, or $2.74, to $38.99 a barrel by 1342 GMT. U.S. …

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Another 1.5 million Americans filed for first-time unemployment benefits last week

About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening. The latest figure from the Labor Department marked the 10th straight weekly decline in applications …

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A promising drug can prevent Covid-19 symptoms

A study published on Tuesday, by Nature magazine, showed that an anti-viral drug called “Remdesivir” was effective in the prevention of respiratory symptoms in Macaque monkeys deliberately infected with Covid-19. Healthcare authorities warranted the emergency use of the Gilead company’s product for severely ill cases of Covid-19 in the United …

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