Oil prices crash, Asian shares set to tumble

13 Sept 06:18 Key points summarised by AI

Oil prices plummeted over 20% as Saudi Arabia initiated a price war by slashing selling prices and planning to significantly increase production after OPEC's supply cut agreement with Russia collapsed.
Asian share markets are poised for substantial losses, with investors fleeing to bonds to hedge against the economic shock of the escalating global coronavirus outbreak.
The global economy shows clear signs of recession, highlighted by a 17.2% drop in China's exports and an estimated $9 trillion loss in global equity value, prompting central banks to cut rates and governments to consider fiscal stimulus.
Safe-haven assets like the yen surged, while U.S. Treasury yields plunged to record lows, and the dollar experienced its largest weekly loss in four years amidst aggressive rate cuts and expectations of further easing from the Federal Reserve.

Six injured after car smashes into On Nut shopping mall

Yesterday 22:44 Key points summarised by AI

A 67-year-old woman drove her car through the glass frontage of a Bangkok shopping mall, injuring six people, including a six-year-old girl.
The driver claimed she accidentally pressed the accelerator instead of the brake after being startled, causing the vehicle to surge forward.
She apologized to the victims, promising insurance coverage and additional financial aid, while police continue to gather statements before filing charges.