|3 THINGS THAT WILL CHANGE THE WORLD TODAY|
Good morning, here’s your Friday morning briefing. Look out for these three things happening around the world today.
Trump meets US oil executives
President Donald Trump today meets with the heads of some of the largest US oil companies to discuss the current oil crash and the impact of the Covid-19 pandemic on the industry.
On Wednesday the Wall Street Journal reported that the meeting will take place at the White House and include top executives from Exxon Mobil, Chevron, Continental Resources and others.
A major drop in oil demand triggered by the pandemic and an oil dispute between Russia and Saudi Arabia pushed the price per barrel down to $21.65 – a level not seen since March 2002.
But after Trump tweeted that he “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels”, the price of oil jumped by as much as 33%.
Japan extends ban on foreign travel
Japan today extends a ban on foreign nationals entering the country in a bid to stem the spread of the coronavirus.
On Wednesday Japan announced the new measures that will see citizens from countries including Australia, the UK, US, Canada and Brazil barred from entry.
It brings the total number of banned countries to 73. There is currently no end date for these restrictions.
Japan currently has over 2,300 confirmed cases of Covid-19, including 700 people from the Diamond Princess cruise ship that was quarantined earlier this year near Tokyo.
Sunak takes to Twitter to answer coronavirus economy questions
UK Chancellor Rishi Sunak will answer questions about the government’s measures to assist businesses and employees during the pandemic via a Twitter Q&A today.
Sunak has outlined a range of emergency economic measures since the outbreak forced much of the country to enter lockdown.
This has included paying 80% of the wages of employees that would otherwise be laid off and a £350bn rescue package for struggling businesses.
The State of Technology This Week
Yesterday Sunak announced he will extend the coronavirus loan scheme for small and medium businesses who have faced financial difficulty during the pandemic.