Month: April 2020

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Trading Ideas

DuPont Gets $3 Billion Financing Package, Limits Investment

April 20, 2020 admin Comments Off on DuPont Gets $3 Billion Financing Package, Limits Investment

(Bloomberg) — DuPont Inc. secured $3 billion in financing to help it ride out the coronavirus that has decimated demand in the automotive industry and other end markets.The maker of materials used in car interiors and headlamps secured a new revolving credit facility valued at $1 billion and arranged $2 billion in financing to meet debt maturing in November. DuPont said its results held up in the first quarter but it is bracing for further turbulence.“As this pandemic expands globally, the uncertainty around demand in select end markets continues,” Chief Executive Officer Ed Breen said in a statement Monday. “We …read more […]

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Four staffing units of Norwegian Air file for bankruptcy

April 20, 2020 admin Comments Off on Four staffing units of Norwegian Air file for bankruptcy

Four Swedish and Danish subsidiaries of Norwegian Air have filed for bankruptcy due to the ongoing coronavirus crisis which has grounded most of the company’s fleet, the budget carrier said on Monday. “We have done everything we can to avoid making this last-resort decision and we have asked for access to government support in both Sweden and Denmark,” Chief Executive Jacob Schram said in a statement. “We are working around the clock to get through this crisis and to return as a stronger Norwegian with the goal of bringing as many colleagues back in the air as …read more […]

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Business News

Brazil set to start QE cautiously but may need to bring out ‘bazooka’

April 20, 2020 admin Comments Off on Brazil set to start QE cautiously but may need to bring out ‘bazooka’

Brazil appears set to embark cautiously on unconventional monetary policy using small interventions to tackle dysfunction in bond markets, as it does with foreign exchange, but the severity of the crisis may ultimately force it to emulate the dramatic steps taken in the United States and Europe.

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Halliburton sees bleak North America activity, joins rivals in spending cuts

April 20, 2020 admin Comments Off on Halliburton sees bleak North America activity, joins rivals in spending cuts

Oil prices have collapsed more than 60% since January to levels well below the costs necessary for many shale drillers to break-even, leading to drilling halts and drastic spending cuts by producers that has hurt demand for services offered by Halliburton and rivals Schlumberger and Baker Hughes . “We expect activity in North America land to sharply decline during the second quarter and remain depressed through year-end, impacting all basins,” Halliburton’s Chief Executive Officer Jeff Miller said in a statement. …read more […]