Month: January 2020

(Bloomberg Opinion) — Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60 and change, its lowest since Halloween. This is all the more remarkable when you consider January has seen several geopolitical shocks stretching from Libya to Iraq.Like the outbreak itself, oil’s problems began in December with a fever of its own. Relief at a sudden truce in the U.S.-China trade war sparked a rally taking oil from about $62 a …read more […]

Citigroup Inc. (NYSE:C) stock is about to trade ex-dividend in 4 days time. Ex-dividend means that investors that… …read more […]

(Bloomberg Opinion) — The heart of America’s oil renaissance is found in the Permian basin, which is showing signs of maturing fast. And for shale basins, that’s not a good thing. If the rich petroleum region wanes, U.S. oil independence will remain elusive and the OPEC cartel may finally see off its greatest threat.The Permian, spread across west Texas and southeast New Mexico, yields more than a third of all U.S. oil production and it has contributed about two-thirds of the past three years’ worth of growth. Its boom has allowed America to export more than 3 million barrels a …read more […]

(Bloomberg) — Ever since she moved to Frankfurt as European Central Bank president three months ago, Christine Lagarde has been working hard to charm the locals.The institution’s new chief has sought to turn a new leaf with Germany after years of cooler relations under her predecessor, Mario Draghi. His stimulus policies, including negative interest rates that erased returns on savings, left many citizens in the ECB’s home country feeling hard done by.Lagarde has already pledged that she’ll attempt to learn German, the euro zone’s most-spoken first language. But a quick glance at the Frenchwoman’s Twitter feed is a further testament …read more […]

The decision https://www.ca10.uscourts.gov/opinions/18/18-9533.pdf from the U.S. Court of Appeals for the 10th Circuit dated Jan. 24 came after a coalition of biofuel industry groups had challenged the 2016 exemptions for Holly Frontier’s Woods Cross and Cheyenne refineries, as well as CVR Energy’s Wynewood refinery. The biofuel industry has been incensed by a surge in biofuel waivers granted under President Donald Trump’s administration, which it says is hurting farmers by undermining demand for corn-based ethanol. Under the U.S. Renewable Fuel Standard, the nation’s oil refineries are required to blend billions of gallons of biofuels such as ethanol into the …read more […]

It’s a big week ahead. Britain leaves the EU, Trump’s defense team is in action, corporate earnings are in focus, and the FED and the BoE are in action. …read more […]

Halfway through a dinner at the Trump Hotel, U.S. President Donald Trump can be heard giving the order to remove the U.S ambassador to Ukraine, Marie Yovanovitch, according to a video that surfaced on Saturday. The video, obtained by Reuters from Lev Parnas’ attorney Joseph Bondy, begins with Trump posing for photos then entering a room with a table set for 15 including a close-up of the president’s place setting. Trump has said he had the right to fire Yovanovitch, a main figure in the series of events that led to his impeachment. …read more […]

U.S mortgage rates fell to 13-week lows in the week ending 23rd January, with the spread of the coronavirus driving demand for Treasuries. …read more […]

Hong Kong’s popular amusement parks Disneyland and Ocean Park are closed from Jan. 26 to help prevent the spread of a deadly coronavirus that broke out in the Chinese city Wuhan, state media CCTV reported on Sunday. Business is going on as usual at the hotels inside Hong Kong Disneyland, however, CCTV reported. The Shanghai government said on Friday that Shanghai Disneyland will be closed from Saturday. …read more […]

Exxon Mobil, Simon Property Group, Westpac Banking and Franklin Resources present buying opportunities Continue reading… …read more […]

Insiders invest in Fastenal, Phillips 66 Partners, Cantel Medical and Harpoon Therapeutics Continue reading… …read more […]

Electric vehicle startup Rivian on Saturday displayed its pickup truck and SUV at an event in San Francisco’s Bay Area and said that when their prices are unveiled soon they will be lower than has been previously announced. Rivian founder and chief executive R.J. Scaringe told Reuters the mid-range R1T pickup truck with a glass sky panel that can change from blue to clear was about $69,000. Scaringe declined to say how many prospective buyers have so far spent $1,000 on a refundable deposit to hold their spot for a Rivian, but he said the reaction had been …read more […]

(Bloomberg) — Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc. and Ford Motor Co., will provide the “skateboard” platform for a premium, high-performance electric Ford vehicle, its top executive said.“In Ford’s case, we provide the platform.” Rivian Chief Executive Officer R. J. Scaringe said in an interview on Saturday. “They will provide the top hat, the body and the interior.”The “skateboard” is the entire platform, including the motor, battery pack, computer systems and wheels. The design is modular and allows for different vehicle body types to be added on top. Rivian is seeking partnerships to scale and grow …read more […]