Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine.
Nike Inc is closing all of its stores in the United States and several other countries in a move to curb the spread of coronavirus, CNBC reported https://www.cnbc.com/2020/03/15/nike-is-closing-all-of-its-stores-in-the-us-because-of-coronavirus.html?__source=twitter%7Cmain on Sunday.
Saudi Arabia’s state oil giant Aramco said on Sunday its 2019 profit fell almost 21% due to lower crude oil prices and a drop in production volumes.
Rounding out an exceptionally volatile week of trading, the market delivered another dramatic swing, this time finishing in the green. After March 12 saw both the S&P 500 and the Dow Jones indexes post their largest single-day percentage losses since the October 1987 crash, stocks rallied the next day, with the S&P 500 jumping over 9%. This gain, which represents its best session since 2008, came as a result of President Trump’s declaration that his administration will do whatever is necessary to mitigate the coronavirus’ impact on the economy. Against this backdrop, billionaire investor Carl Icahn offered up his …read more […]
A rush to safety amid a massive drop in stocks has stretched prices for haven assets, leaving investors fewer places to hide in the wake of a freshly-minted bear market.
(Bloomberg) — Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are hitting home.Capital expenditure will be between $25 billion and $30 billion in 2020 and spending plans for next year and beyond are being reviewed, Aramco said. The oil giant is lowering that range from the planned $35 billion to $40 billion announced in its IPO prospectus, and compares with $32.8 billion in 2019.“That was the surprise,” Ahmed Hazem Maher, an analyst at EFG Hermes in Cairo, said of the spending cut. “They’re adding production in …read more […]
When many people think of the stock market, they envision the Hollywood version of Wall Street. Tickertape strewn across the floor. TVs with prices and symbols continuously rolling across them. People shouting to buy or sell. But that’s a pretty far cry from what it looks like today! So, what is the stock market, really?
Today the stock market is less a physical place and more a digital one. True, shares used to trade back and forth on the floor at the New York Stock Exchange (NYSE). But today the market exists online. You can still trade shares on the NYSE, …read more […]
Saudi Arabia’s state-run oil giant Saudi Aramco announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts’ expectations just three months after selling shares to the public in a record-setting IPO.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.
Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to “rationalize” capital spending in the wake of the coronavirus outbreak.
(Bloomberg Opinion) — It’s just become a lot harder to make long-term investment decisions in the oil industry. And no, I’m not talking about the need to transition to a low-carbon economy, or the backlash from climate activists and investors. Any veneer of certainty about the future path of oil prices has evaporated.This is the second time in six years that Saudi Arabia has embarked on a pump-at-will oil production policy that has hammered prices. Whether it’s aimed at Russia or the U.S. shale sector, producers everywhere — from OPEC members such as Angola to corporate behemoths like Exxon Mobil …read more […]
Israel plans to use anti-terrorism tracking technology and a partial shutdown of its economy to minimise the risk of coronavirus transmission, Prime Minister Benjamin Netanyahu said on Saturday.
Economic data will begin to influence, though news updates on the coronavirus, central bank and government actions will continue to be the key drivers …read more […]
American Airlines Inc said Saturday it plans to cut 75% of its international flights through May 6 and ground nearly all its widebody fleet, as airlines respond to the global collapse in travel demand due to the coronavirus pandemic.
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