Tesla Inc sold 10,160 vehicles in China in March, its highest ever monthly sales in the world’s largest auto market, the China Passenger Car Association (CPCA) said on Thursday.
Oil prices rose on Thursday on expectations the world’s leading crude producers will overcome obstacles at a meeting later in the day that have so far prevented a deal to cut output in response to a collapse in global demand.
UBS senior executives will contribute 50% of their fixed salaries over the next six months to efforts to fight the new coronavirus epidemic, Chief Executive Sergio Ermotti said on Bloomberg TV on Thursday.
(Bloomberg) — European stocks pared their gains alongside U.S. equity futures on Thursday as investors mulled estimates of how soon economies can reboot when the coronavirus outbreak eases. Oil rose after Russia signaled it’s ready to make production cuts.Declines in telecoms and media shares helped trim an earlier advance by the Stoxx Europe 600 Index. American index contracts fluctuated a day after the S&P 500 closed over 3% higher into bull-market territory. Most Asian stocks saw a modest rise, though Japanese shares retreated. For many markets it is the last trading day of the week before the Easter break.Treasuries rose. …read more […]
(Bloomberg) — The next step for some U.S. refineries that have already cut way back may be a full stop.Marathon Petroleum Corp. plans to idle its Gallup, New Mexico, refinery next week, according to a person familiar with the matter. It’s the first U.S. facility to shut as the coronavirus pandemic empties skies of passenger planes and the roads of cars.It’s not likely to be the last. Major U.S. refiners, including Marathon, Valero Energy Corp. and Phillips 66, have lowered rates at their facilities to be at or near minimum levels as storage tanks fill up with fuel they can’t …read more […]
Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.
OPEC and Russia will debate record oil output cuts on Thursday to prop up prices wrought by the coronavirus pandemic but their talks are complicated by internal disagreements and the reluctance of the United States to join the action.
The world’s largest regional theme park company, Six Flags Entertainment (SIX), has announced preliminary 1Q20 revenues along with significant steps taken to both reduce expenses and boost the overall liquidity outlook.Management expects 1Q20 revenues to be $25-30M lower than the year-ago period, or roughly $98-103M, but added that a sizable portion of the decline was offset by operating expense cuts when the parks closed. SIX also agreed with lenders to suspend the regular dividend until the end of 2021 or the termination of its additional $131 million credit facility.With the timeline for park reopenings remaining unknown, management is reducing expenses …read more […]
Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
Swiss banks UBS and Credit Suisse will postpone paying out part of their 2019 dividends until later this year after mounting pressure from authorities over lenders’ payouts during the coronavirus epidemic.
Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.
Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. U.S. West Texas Intermediate (WTI) crude futures were up 5%, or $1.27 cents, at $26.36 a barrel, after earlier climbing by as much as 6.1%. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia – a group known as OPEC+ – are set to convene a video conference meeting on Thursday. …read more […]
Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.
Starbucks (SBUX) is expecting FQ2 adjusted earnings of $0.32 per share, almost half the $0.60 reported in the same period last year, due to the severe impact of the coronavirus pandemic. Starbucks also revealed that business disruption related to COVID-19 in China had an adverse impact to GAAP EPS for Q2 of $0.15 to $0.18.However, the coffee chain warned that worse is still to come. “Based on the late-quarter onset of COVID-19 impacts to our business results in the U.S. and other markets globally—and as the flow-through impact of lost sales in the U.S. is materially greater than the flow-through …read more […]
Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
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