Newsmakers

Former EVP, Head of Universal Music Group and Brands-USA Joins Advisory Board of Imagination Park Technologies (OTC: IPNFF)

Vancouver, CANADA – – February 11 , 2020 – Imagination Park Technologies Inc. (CSE: IP)(OTC: IPNFF) today announced that Mike Tunnicliffe has joined the Company as a Senior Advisor to the CEO. Mr. Tunnicliffe previously served […]

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BP deepens emissions targets as CEO Looney 'reinvents' oil major

The targets set on Wednesday put BP ahead of rivals Royal Dutch Shell, Total, Equinor and all of the U.S. oil majors. BP did not specify how it intends to reach its 2050 targets to get carbon emissions from its operations and barrels produced to net zero and halve the carbon intensity of all products it sells, such as diesel or petrol. Smaller Spanish rival Repsol has set more ambitious net zero carbon targets for the oil products it sells, at a cost of more than $5 billion, but the huge scale of its operations now puts BP’s …read more […]

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OPEC says coronavirus to trim 2020 oil demand as it weighs deeper cut

OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact. In a monthly report, OPEC said 2020 demand for its crude will average 29.30 million barrels per day (bpd), 200,000 bpd less than previously thought. OPEC pumped less oil in January than the average 2020 requirement, due to planned cuts and involuntary losses. …read more […]

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Frenzied Tesla Speculators Propel 77% Surge in Options Trading

(Bloomberg) — A frenzy of bullish bets on the biggest U.S. tech names is captivating Wall Street and powering equities to all-time highs. It’s also sending waves through options markets.Volumes for contracts tied to single stocks have surged by 77% in the past six weeks to fresh records, according to Goldman Sachs Group Inc. The growth has been so staggering that trading in the derivatives by notional value is almost on par with volumes in the underlying shares themselves, the firm calculates.Spurring the growth are bullish wagers on Tesla Inc., as well as mega caps that wield heft in the …read more […]

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BP Sets Bold Agenda for Big Oil With Plan to Eliminate Its CO2

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BP Plc’s new boss set out the boldest climate plan of any major oil company, pledging to eliminate almost all of the carbon emissions from its operations and the fuel it sells to customers.Bernard Looney, who has been the company’s chief executive officer for just a week, set an ambitious agenda for what’s becoming an existential challenge for the oil industry. While peers including Royal Dutch Shell Plc, Total SA and Equinor ASA have responded to investor pressure by adopting targets for …read more […]

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CVS Shares Climb After Health Giant Projects Strong 2020 Sales

(Bloomberg) — CVS Health Corp. shares gained in premarket trading Wednesday after the health-care conglomerate projected strong 2020 sales, driven by growth in its pharmacy-benefit management business.In an investor presentation, CVS said it sees 2020 revenue between $261.97 billion and $265.48 billion, above Wall Street analysts’ average expectation of $256.89 billion.Key InsightsIn the fourth quarter, the pharmacy-services segment brought in $37.1 billion. In 2020, CVS expects the business will have revenue of $137.50 billion to $139.45 billion, more than the $136.01 billion analysts expect. The business has been a cornerstone of CVS’s growth despite growing criticism of the industry’s role …read more […]