Royal Caribbean Cruises Ltd on Tuesday withdrew its first-quarter and full-year forecast, and increased its credit capacity by $550 million to boost liquidity amid concerns around the rapid spreading of coronavirus.
Oil prices jumped by around 8% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible.
Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Brian Cheung discuss what to expect ahead of next week’s Fed meeting. …read more […]
Cruise operators are among the worst hit by the epidemic, which originated in mainland China and has killed more than 3,800 people, as travel restrictions and fears of the virus spreading have led to cancellations of trips. Royal Caribbean said it would cut spending, operating expenses and take other actions to improve liquidity by at least another $1.7 billion in 2020. “These are extraordinary times and we are taking these steps to manage the company prudently and conservatively,” Chief Executive Officer Richard Fain said. …read more […]
DUBAI/MOSCOW (Reuters) – Saudi Arabia said on Tuesday it would increase its crude oil supply to a record high, raising the stakes in its price war with Russia and effectively rejecting Moscow’s overtures for new talks. The clash of the two oil titans sparked a 25% slump in oil prices on Monday, triggering panic selling and heavy losses on Wall Street’s main stock indexes, already hit badly by the coronavirus outbreak. On Tuesday, Amin Nasser, chief executive of Saudi Aramco said the oil giant would increase supply to 12.3 million barrels per day (bpd) in April for customers …read more […]
(Bloomberg) — Anxiety? Yes. Panic? No.As the S&P 500 plunged Monday, calm reigned on the online forum of the Bogleheads, an investing group inspired by the late Vanguard Group founder Jack Bogle and famed for its cool-headed, long-term attitude toward passive index investing.“Feeling awesome! My annual bonus hits this week and goes directly into my 401k,” one contributor said in a post.Bogleheads are notoriously blase about market volatility, but a wider range of investors also seem to be carrying on, if not exactly keeping calm, and maintaining portfolio allocations. Advisers say that clients in passive investments, such as those invested …read more […]
Intel on Tuesday said EU antitrust regulators got it wrong when they fined the chipmaker 1.06 billion euros ($1.2 billion) more than a decade ago for thwarting a British rival in a case that could affect Google and Qualcomm.
At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry.
To the annoyance of some shareholders, ConocoPhillips (NYSE:COP) shares are down a considerable 41% in the last month… …read more […]
Oil prices jumped by around 10% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible.
Oil and equity markets staged solid rebounds on Tuesday after the previous day’s pummelling, with signs of co-ordinated action by the world’s biggest economies to cushion the economic impact of coronavirus helping pull investors out of panic mode.
Nissan Motor Co is likely to pull out from a venture capital fund it runs with alliance partners Renault SA and Mitsubishi Motors, as part of the Japanese automaker’s drive to cut costs and conserve cash, two sources said.
U.S. stock index futures rose more than 4% on Tuesday, rebounding from a 7% slump a day earlier, as hopes of coordinated policy action soothed investor nerves over a global recession fueled by the coronavirus epidemic.
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