Oil Futures Settle Sharply Higher

Minneapolis Mayor Blasts Trump's 'Weakness' After President Criticized 'Total Lack of Leadership'





Frey has called for the four former police officers involved in Floyd's arrest to be criminally charged and said Tuesday their firing was "the right call."

"If most people, particularly people of color, had done what a police officer did late Monday, they’d already be behind bars," Frey, an attorney who graduated from Villanova Law School in 2009, tweeted Wednesday, a day before Trump lashed out at local leaders and protesters in Minneapolis.

"We can’t turn a blind eye. George Floyd deserves justice," Frey wrote. "The black community deserves justice. His friends and family deserve justice."

Beyond Meat Announces New Deals With KFC and Pizza Hut in China

Plant-based burger and sausage makerBeyond Meat Inc. announced that it will soon launch partnerships in China with major fast food chains, KFC and Pizza Hut, both owned byYUM China Holdings Inc.

“We’re proud to expand our partnership with KFC into China, one of their largest markets worldwide, as well as introduce a new partnership with Pizza Hut in China,” a Beyond Meat spokesperson told Bloomberg in an email. “We’ll be sharing more details soon.”

The Pizza Hut partnership begins on Monday and KFC will launch its new products in June. Details on products and locations haven’t yet been announced.

These collaborations follow theannouncement last month that the company was entering the Chinese market with products at Starbucks Corp. locations.

Beyond Meat and its main U.S. competitor, Impossible Foods Inc., have both been hungrily eyeing the Chinese market since before the coronavirus pandemic essentially destroyed restaurant sales in the U.S. Other plant-based alternatives makers already have a Chinese presence, including Oatly AB and Eat JUST Inc., a vegan egg company.

Trump Lashes Out At China, To Eliminate Special Status For Hong Kong

President Donald Trump lashed out at China during a highly anticipated press conference on Friday, accusing the communist country of breaking its promises with the U.S. and other nations around the world.

Trump harshly criticized China’s handling of the coronavirus, claiming Beijing instigated the “global pandemic” by allowing the disease to spread.

Following China’s recent move to approve a controversial security law for Hong Kong, Trump also said he is directing his administration to remove special exemptions for the city.

Trump argued Hong Kong is “no longer sufficiently autonomous” to warrant preferential treatment by the U.S., claiming China has abandoned the idea of “one country, two systems.”

The president also announced that he is suspending the entry of certain foreign nationals from China into the U.S. as well as instructing a presidential working group on financial markets to study Chinese companies listed on U.S. exchanges.

Trump also revealed that he is terminating the U.S.’ relationship with the World Health Organization, claiming China has total control of the agency.

Trump Lashes Out At China, To Eliminate Special Status For Hong Kong

President Donald Trump lashed out at China during a highly anticipated press conference on Friday, accusing the communist country of breaking its promises with the U.S. and other nations around the world.

Trump harshly criticized China’s handling of the coronavirus, claiming Beijing instigated the “global pandemic” by allowing the disease to spread.

Following China’s recent move to approve a controversial security law for Hong Kong, Trump also said he is directing his administration to remove special exemptions for the city.

Trump argued Hong Kong is “no longer sufficiently autonomous” to warrant preferential treatment by the U.S., claiming China has abandoned the idea of “one country, two systems.”

The president also announced that he is suspending the entry of certain foreign nationals from China into the U.S. as well as instructing a presidential working group on financial markets to study Chinese companies listed on U.S. exchanges.

Trump also revealed that he is terminating the U.S.’ relationship with the World Health Organization, claiming China has total control of the agency.

Oil Futures Settle Sharply Higher

Crude oil prices moved higher on Friday, on hopes of a pickup in energy demand and expectations that major oil producers will extend output cuts beyond June 2020.

Higher demand for gasoline following reopening of businesses in almost all states across the U.S., and easing lockdown restrictions in several countries across the world, pushed up oil prices.

The output cuts by OPEC and allied producers too contributed to oil’s uptick.

West Texas Intermediate crude oil futures for July ended up $1.78, or about 5.3%, at $35.49 a barrel.

WTI Futures have now posted gains for five straight weeks. Oil prices surged as much as 88% in the month of May, the best monthly returns since the near 45% surge way back in September 1990.

Brent crude futures edged up $0.04 to $35.33 a barrel today.

According to the data released by Baker Hughes, the number of active U.S. rigs drilling for oil declined by 15 to 222 this week, falling for an eleventh straight week.

The total active U.S. rig count is now at 301, down 17 from previous week.