US #oilprice crashed negative for the 1st time in history. West Texas Intermediate (a US crude) traded as low as -$40.32 a barrel. So far the bulk of the losses are in US crude, -200 to -1000%! Global (Brent) crude has not gone down as much because global storage still exists.
#COVID19#lockdown has sharply cut all travel & thus demand for oil. Excess supply of oil resulted in a shortage of #storage space, esp in North America. As they & slowly the rest of the world run out of storage, the demand for future oil contracts (futures) goes down sharply
1. Facebook struggled with regulation for 3 years in trying to launch #WhatsApp Pay bcoz of privacy issues+blocking by high access of PayTM etc. So FB made a deal with the big daddy of Indian companies with access.
2. The recently launched NUE framework by the #RBI is possibly a big end game being targeted by the partnership. This framework allows for parallel payment infrastructure to UPI being set up countrywide. $5.7 bn is cheap for this scale of access & profit
3. Privacy debate would kick up to the next level, now that whatsapp/facebook data + payment data + telecom data from Jio could be shared. Whatsapp has already cleared the data localization hurdle by setting up servers locally.