While oil-producing nations have agreed to cut output and major global oil companies are also trimming production, those cuts will not come quickly enough to avoid a massive clog in the next couple of weeks. Four weeks ago, the storage hub was half full – now it is 69% full, according to U.S. Energy Department data. …read more […]
United Airlines said on Monday it expects to report a pretax loss of about $2.1 billion for the first quarter, after the coronavirus outbreak smothered its growth aspirations in Latin America and led the company to seek another $4.5 billion in government aid.
Carrefour , Europe’s largest retailer, said on Monday it was halving its 2019 dividend to 0.23 euros per share and that CEO Alexandre Bompard would waive 25% of his fixed salary for a period of two months due to the coronavirus outbreak.
HSBC has cut a number of top management roles in its investment bank, memos seen by Reuters showed, a sign that Chief Executive Noel Quinn is pressing on with plans to shake up the group despite having put a wider job cut programme on hold.
U.S. solar panel maker SunPower Corp on Monday said it had temporarily stopped production at all of its factories in five countries as the coronavirus outbreak ravages demand for its products.
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, as the contract dropped by more than 50% to less than $8 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filling.
Stephen Moore discusses why he thinks the U.S. economy needs to be reopened immediately. …read more […]
Airlines as well as the cruise industry have been hit hard due to the COVID-19 pandemic. CBS News Travel Editor Peter Greenberg joins Yahoo Finance’s On The Move to discuss the outlook for the travel industry. …read more […]
Yahoo Finance’s Heidi Chung breaks down what Wall Street expects from Netflix’s latest earnings report as original shows like Tiger King and Love is Blind lure in new audiences. …read more […]
U.S. oil prices plunged to a 21-year low on Monday. Prosper Trading Academy CEO Scott Bauer joins Yahoo Finance’s On The Move to weigh in on the oil price crash and cost of storage. …read more […]
West Texas Intermediate crude oil fell to its lowest level in 34 years as storage facilities build toward capacity. …read more […]
Behind a Saudi-Russian truce to stabilise oil markets with a record output cut, market players are seeing the two production heavyweights still trading blows in the physical market.
The Canadian e-commerce company launched a financing program, “Shopify Capital”, which offers cash advances that are repaid through future sales. The advances would range from C$200 to C$500,000 per eligible merchant. …read more […]
Behind a Saudi-Russian truce to stabilise oil markets with a record output cut, market players are seeing the two production heavyweights still trading blows in the physical market. It is here, rather than in the world of futures prices, that a long-standing battle for market share carries on, particularly in Asia, shipping data analysed on Monday by Reuters shows. “Beyond the cooperative statements the fight is still going on,” a source at a trading firm told Reuters, adding that Saudi Arabia’s official selling prices (OSPs) signalled that the kingdom was targeting the Asian market, where demand remains relatively …read more […]
The five-member Federal Communications Commission has unanimously voted to approve an order to allow Ligado Networks[MOSAV.UL] to deploy a low-power nationwide 5G network despite objections from the U.S. Defense Department, other federal agencies and major U.S. airlines.
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