Business News
Trump, Putin discuss coronavirus, global energy markets: White House
U.S. President Donald Trump spoke with Russian counterpart Vladimir Putin on Friday about the coronavirus and energy markets, the White House said.
Month: April 2020
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How the Pandemic Wiped Out Oil Demand Around the World
(Bloomberg) — Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel.Currently, between a third and a half of the world’s population are in lockdown, meaning few people are driving, flying or doing much that would require the use of crude or its derivatives.The ramifications for the oil market are huge, with refiners, producers and even petrostates all facing uncertain futures. The most immediate set of data from America starkly illustrated the impact. On Wednesday, the U.S. Energy Information Administration reported U.S. drivers consumed the least gasoline for …read more […]
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AbbVie Inc. (NYSE:ABBV) Passed Our Checks, And It's About To Pay A US$1.18 Dividend
Regular readers will know that we love our dividends at Simply Wall St, which is why it’s exciting to see AbbVie Inc… …read more […]
Business News
Kremlin: Putin and Trump discuss OPEC+ oil cuts deal
Russian President Vladimir Putin and U.S. President Donald Trump, in a phone call on Friday, discussed a potential global deal on oil production cuts by the group known as OPEC+, the Kremlin said.
Business News
Turkey held talks with U.S. on possible Fed swap line: Turkish officials
Turkey has held talks with the United States about possibly securing a swap line from the U.S. Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.
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President Trump: Don’t Bailout Billionaire Warren Buffett and Airlines
Exactly three years ago United Airlines (NASDAQ:UAL) violently removed a passenger from an overbooked flight, dragging him through the plane’s aisle while the man was screaming in protest. Blood was coming out of the man’s mouth. I embedded the video below. Was it that passenger’s fault that United Airlines sold more tickets than the number […] …read more […]
Business News
G20 ministers to propose task force on next steps to help oil market: India
G20 energy ministers in their joint statement will propose setting up a task force to advise ministers on the steps needed to stabilise the oil markets amid the coronavirus pandemic, India’s oil ministry said in a statement on Friday.
Business News
U.S. consumer prices record largest drop in five years
U.S. consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.
Business News
U.S. Energy Secretary tells G20 all nations should help reduce oil surplus
U.S. Energy Secretary Dan Brouillette on Friday described a dire situation in global energy markets, saying that the coronavirus pandemic and massive oil surplus have created a lethal combination.
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G20 ministers to propose task force on next steps to help oil market – India
G20 energy ministers in their joint statement will propose setting up a task force to advise ministers on the steps needed to stabilise the oil markets amid the coronavirus pandemic, India’s oil ministry said in a statement on Friday. Although India’s fuel demand has slumped drastically due to a nation-wide lockdown to stem the spread of coronavirus, India will continue to be a global energy demand centre, Oil minister Dharmendra Pradhan told the meeting. …read more […]
Business News
Congratulations, it’s a fudge: EU crisis deal leaves much unresolved
EU finance ministers gave themselves a round of applause as they wrapped up talks on Thursday night with agreement on a package of measures worth half a trillion euros to cushion the blow of the coronavirus pandemic.
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Delta Cut to Junk by Fitch as 35,000 Workers Take Leave
(Bloomberg) — Delta Air Lines Inc. has been downgraded by Fitch Ratings to junk.The firm lowered its rating on Delta’s debt to “BB+” from “BBB-” and warned that another downgrade is possible as air travel suffers with the spread of the coronavirus. The airline does, however, have more financial flexibility than some rivals, Fitch said in an assessment of the industry.“Though Delta remains a stronger credit than its network peers, debt raised to sustain liquidity through the pandemic will drive credit metrics outside of a range supportive of investment-grade ratings at least through 2021 and likely into 2022,” Fitch said …read more […]
Business News
Exclusive: Italy’s government set to reappoint Eni and Enel CEOs – source
The chief executives of Italy’s top two energy groups Eni and Enel are on course to secure third terms next week when Rome decides on roles at key state-controlled companies, a senior government official said.
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Business News
Coronavirus-hit airlines in push for divisive route subsidies
Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds.