Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
(Bloomberg) — Occidental Petroleum Corp. wants U.S. government financial aid for the oil industry even as the biggest producer of Permian Basin crude urges Texas regulators not to interfere with market forces.In a sign of how important the appeal is to Chief Executive Officer Vicki Hollub, employees are being urged to send a pre-written wish list to Congress members. Among other things, the company wants the government to “provide liquidity to the energy industry through this period of unprecedented demand destruction and unsustainable pricing until normal economic conditions return.”The letter, linked in an internal email dated April 7 and seen …read more […]
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
The U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
The Federal Reserve will continue to use all the tools at its disposal until the U.S. economy begins to fully rebound from the harm caused by the novel coronavirus outbreak, Fed Chair Jerome Powell said on Thursday, even as he acknowledged the limits of the central bank’s powers.
Dan Ives of Wedbush Securities joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the tech industry is faring amid the coronavirus outbreak. …read more […]
Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Brian Cheung discuss why Goldman Sachs argues that the economy could still see a V-shaped recovery amid the coronavirus outbreak. …read more […]
Shortly after the Federal Reserve announced $2.3 trillion in funding to support the economy, Fed Chairman Jerome Powell says the central bank will continue to act “forcefully, proactively, and aggressively.” …read more […]
Morgan Stanley’s Chief Executive Officer James Gorman said he has fully recovered from the illness caused by the novel coronavirus, according to a video that was sent to the bank’s employees on Thursday.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that aid for airlines will be the “next big thing” to be rolled out after the Federal Reserve announced new lending backstops for mid-size companies and municipal bonds.
Wall Street jumped at the open on Thursday, after the Federal Reserve rolled out a $2.3 trillion program to bolster local governments and businesses, while the initial jobless claims slipped to 6.6 million last week from an upwardly revised 6.87 million the prior week.
Will be it a U? A V? Maybe a W? Predictions for economic recovery after coronavirus-linked lockdowns are throwing up a medley of letters to indicate whether we can expect a bounceback, a slow-burn recovery or relapse.
Gorman released the 10-minute video to staff by email in which he said he had tested positive for coronavirus and had been fully cleared by doctors more than a week ago. Gorman is currently undergoing self-isolation at home and working remotely, according to the video. A Morgan Stanley spokesman confirmed the contents of the video, adding the development was not considered to be material because Gorman was not incapacitated at any time. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
