1. Futures and Stocks Fall Ahead of Jobs Data Report
European stocks and American Futures are showing doubt at the top of their rally as traders await US Jobs Data. The world’s largest economy is awaiting May’s jobs data report in the first week of June. US markets will be closed on account of Memorial Day.
Crude Oil is moving up ahead of the OPEC+ supply policy meeting this week. Gold is headed for its best monthly gains since July, as most industrial metals also gained.
Stoxx Europe is down 0.27%
Dow Jones Futures is down -0.19%
NASDAQ Futures is down -0.12%
2. China Permits Couples To Have Three Children
China on Monday announced the change in the policy of having children and now each couple can have up to three children after the census data showed a sharp decline in births. The response to this was mixed and many people said they could not afford to have even one child.
3. Global Economy Is Positive And Promising: OECD
The Organisation for Economic Co-operation and Development(OECD) said on Monday, the global economic outlook is positive and promising as vaccine rollout fastens up and companies resume production. The global economic growth is expected at 5.8% this year and 4.4% next year, a significant improvement from the previous estimates from 5.6% and 4.0% respectively.
4. Unhealthy Products, Nestle Working On New Strategy
Nestle on Monday released a statement saying that it was working on a company-wide new strategy to update its nutrition and health strategy and to ensure its entire products are meeting the required nutritional needs. This is after the Financial Times reported about an internal document that describes the company’s products as unhealthy. The company added that it had reduced sugars and sodium usage in its products by about 14-15% in the past seven years and will work better to keep the portfolio healthy.
5. Singapore To Vaccinate School Children
Singapore Prime Minister Lee Hsien Loong said on Monday, vaccination for 12-18 year-olds will start from Tuesday as many students get Covid 19 infected. The PM is hopeful in controlling the crisis and he claims that most of the population is vaccinated. Eligible ones will get at least their first shot by the country’s national day on August 9, the PM added
6. France Will Send More Medical Supplies To India
France on Monday announced that the country will send more medical supplies, including around 16 large oxygen generation plants, to India in the fight against the second. French ambassador Emmanuel Lenain said, ‘there cannot be a global victory against the coronavirus without India’. Many other countries like the US, Russia, Germany, Australia have already sent help to India to fight against Covid-19 and let’s hope that this crisis will end soon.
7. Top Global Port Expects Delays due to Covid Outbreak
Yantian Port located in China’s Shenzhen is one of the world’s busiest ports. The port is expecting delayed shipments as a Covid-19 outbreak in the facility has led to tighter restrictions.
Cargo leaving the port will require reservations and they have strengthened its Covid-19 testing program for imports into China.
All delays will further increase shipping costs. When shipping costs increase, export prices of China increase. This is a threat that may push up global inflation even more.
8. Apple Reports No Child Labour in Supply Chain
Tech-giant Apple has reported improvements in its supply chain’s sustainability. A 113-page report by the company talks about issues including treatment of workers to energy usage and infectious disease policies. The company reported that there were no child labour cases in their supply chain. Despite this, Apple raised several examples of suppliers failing to fulfill their duties and not complying with Apple’s maximum working-hours policy(overworking labour).
9. Going to Tokyo Olympics? You will need proof of COVID-19 vaccination: Report
Japan is considering making it mandatory for fans attending the Tokyo Olympics to show negative Covid-19 test results or vaccination records, a local newspaper reported. There is a growing demand from the public to cancel the games as Japan extended a state of emergency in Tokyo and other areas to June 20, as the country’s fourth wave of Covid-19 rages on.
10. Petrol Now Costs Almost Twice as Much in Mumbai Than New York
Petrol prices in Mumbai have risen past the Rs 100/litre mark for the first time ever, among the costliest in the country and almost twice the price in New York. Retail prices in the city are up 11% this year and have reached Rs 100.47 ($1.39) a litre Monday, Indian Oil Corp reveals. In New York, the retail price of a litre of Petrol is just Rs 57($0.79).