US records 55,000 new Covid-19 cases, 833 deaths

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

Washington, May 28: US President Donald Trump has warned social media giants that his government could "strongly regulate" or "close them down" after Twitter fact-checked one of his tweets for the first time.

"Republicans feel that Social Media Platforms totally silence conservatives voices," Xinhua news agency reported citing Trump as saying in a tweet to his 80 million followers on Wednesday.

"We will strongly regulate, or close them down, before we can ever allow this to happen."

Later in the day, he said that Twitter "has now shown everything we have been saying about them... is correct" and vowed "big action to follow".

The President's remarks came after Twitter slapped a warning label on one of his tweets on Tuesday, cautioning readers "Trump makes unsubstantiated claim that mail-in ballots will lead to voter fraud".

It was in response to Trump's tweet, without providing evidence, said: "There is NO WAY (ZERO!) that Mail-In Ballots will be anything less than substantially fraudulent."

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It is unclear what regulatory steps the president could take without new laws passed by Congress, the BBC reported.

The White House is yet to offer further details.

Earlier, Trump has accused Twitter of interfering in this year's US presidential election scheduled for November, saying the company was "completely stifling free speech, and I, as president, will not allow it to happen".

With more than 52,000 tweets currently to his name, Trump is a prolific tweeter and relies on the platform to disseminate his views to millions of people.

He has used Twitter to launch attacks on opponents, with targets ranging from North Korean leader Kim Jong-un to his political rivals in the US.

In 2017 he used anti-Muslim tweets aimed at London Mayor Sadiq Khan to serve a domestic political purpose of warning about immigration.

New Delhi, Jul 13: Google CEO Sundar Pichai on Monday announced an investment of Rs 75,000 crore or approximately US$10 billion into India over the next five to seven years through 'Google for India Digistation Fund'.

This move is significant as it comes in the middle of the COVID-19 pandemic and as multinational companies across the world look at alternative investment destinations.

"Excited to announce Google for India Digitisation Fund. Through it, we will invest Rs 75,000 crore or approx US$10 Billon into India over the next 5-7 yrs. We'll do this through a mix of equity investments, partnerships and operational infrastructure in ecosystem investments," said Pichai.

Pichai along with Union Minister Ravi Shankar Prasad virtually attended the sixth annual edition of Google for India.

"This is a reflection of our confidence in the future of India and its digital economy," said Pichai.
He added that the investments will focus on four areas important to India's digitisation.

Listing out the areas, Pichai elaborated, "First enabling affordable access and information to every Indian in their own language. Second, building new products and services that are deeply relevant to India's unique needs. Third, empowering businesses as they continue or embark on the digital transformation. Fourth, leveraging technology in AI for social good in areas like health, education and agriculture."

"When I was young, every piece of technology brought new opportunities to learn and grow but I always had to wait for it to arrive from some places. Today people in India no more have to wait for technology to come to you. A whole new generation of technologies is happening in India first," said Pichai.

Earlier today Prime Minister Narendra Modi interacted with Pichai and discussed a range of subjects like a new work culture in coronavirus times, data security and cyber safety.