News, I read 5th June

1. The US trade deficit surged in April as the COVID-19 pandemic upended the global flow of goods and services, pushing exports to a 10-year low

https://www.moneycontrol.com/news/business/economy/us-trade-deficit-widens-as-exports-hit-10-year-low-5360951.html

2. The European Central Bank expects the eurozone to suffer a deep recession this year, with losses only partly made up in 2021

 https://www.moneycontrol.com/news/business/economy/ecb-sees-big-2020-recession-partial-rebound-next-year-5361361.html 

 3. The government has extended anti-dumping duty on a certain variety of steel products till December 4 this year with a view to guard domestic manufacturers.

 https://www.financialexpress.com/economy/govt-extends-anti-dumping-duty-on-certain-steel-items-till-december-4/1981180/lite/ 

 4. Even as coronavirus pandemic has impacted many sectors, agriculture could be the only bright spot as real agriculture is likely to witness a 2.5 percent growth in 2020-21, according to a report by CRISIL. 

 https://www.moneycontrol.com/news/india/agriculture-sector-likely-to-remain-resilient-from-covid-19-impact-to-grow-2-5-in-fy21-crisil-5361551.html 

 5. Gross non-performing assets (NPAs) of banks are likely to worsen to 11.3-11.6 percent by the end of this financial year from 8.6 percent as of March 2020 

https://www.business-standard.com/article/economy-policy/covid-19-bank-npas-may-worsen-to-11-6-per-cent-by-fy21-end-says-icra-120060401305_1.html 

 6. Consumer confidence collapsed in the month of May, and the expectation for the next year is that of pessimism for Indian households, survey results of the Reserve Bank of India (RBI) shows. 

 https://www.business-standard.com/article/economy-policy/consumer-confidence-plunges-people-pessimistic-about-future-rbi-survey-120060401424_1.html 

 7. India’s biggest lender, State Bank of India, said on Thursday its board will meet on June 11 to consider raising funds in single or multiple tranches of up to $1.5 billion.

 https://in.reuters.com/article/state-bank-of-india-debt/sbi-to-consider-raising-up-to-1-5-billion-idINKBN23B1GB 

 8. The Centre on June 4 released Rs 36,400 crore as Goods & Services Tax (GST) compensation to states for the period December 2019 to February.

https://www.moneycontrol.com/news/business/economy/centre-releases-rs-36400-crore-as-december-to-february-gst-compensation-to-states-5361171.html 

 9. Rating agency ICRA on said the credit outlook for film production and exhibition, print media, and television broadcasting segments is negative due to the impact of the coronavirus pandemic.

 https://www.moneycontrol.com/news/india/credit-outlook-negative-for-film-production-print-media-tv-broadcasting-icra-5361081.html 

 10. The Reserve Bank of India has told the Supreme Court that it is not in favor of waiving interests on loans during the lockdown period. 

 https://in.news.yahoo.com/not-favour-waiver-interest-loans-101743386.html

11. Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel 

https://in.reuters.com/article/amazon-india-bharti/exclusive-amazon-in-talks-to-buy-2-billion-stake-in-bharti-airtel-sources-idINKBN23B1FH 

 12. On Wednesday, NIFTY closed 32.45 Points lower at 10,029.10 

 VIX drops by 1.17% and closed at 29.69, the usual safe range for VIX is between 12 to 20. 

SGX Nifty trading 40 points higher at 8:00 am, Indian Time