Trading Ideas
Month: April 2020
Business News
Australia’s Treasury Wine, to cope with virus, weighs Penfolds demerger, U.S. cutback
Australia’s Treasury Wine Estates Ltd said it may spin off the prestigious Penfolds label and shrink its low-end “commercial” division in the United States as it seeks ways to grow profit amid upheaval brought by the coronavirus crisis.
Business News
Tesla to furlough workers, cut employee salaries due to coronavirus
Tesla Inc told employees on Tuesday it would furlough all non-essential workers and implement salary cuts during a shut down of its U.S. production facilities because of the coronavirus outbreak.
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Tesla to furlough workers, cut employee salaries due to coronavirus
Tesla said it planned to resume normal operations on May 4, barring any significant changes, according to an email sent to U.S. employees by in-house counsel Valerie Capers Workman, which was viewed by Reuters. Tesla did not immediately respond to a request for comment. The coronavirus pandemic has slashed U.S. demand for cars and forced several other automakers to furlough U.S. workers. …read more […]
Business News
Asian shares turn cautious, oil rebounds in choppy trade
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors tempered their optimism about the coronavirus while death tolls were still mounting across the globe.
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Oil prices jump on hopes for OPEC, Russia meeting on output cuts
Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic. Brent crude was up by 75 cents, or 2.4%, at $32.62 per barrel by 0246 GMT after falling 3.6% on Tuesday. U.S. West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session. …read more […]
Business News
Oil prices jump on hopes for OPEC, Russia meeting on output cuts
Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.
Business News
Nissan’s China sales drop 44.9% in March due to virus
Japanese automaker Nissan said on Wednesday its sales in China fell 44.9% from a year earlier to 73,297 units in March, as the coronavirus epidemic continues to hit the world’s biggest car market.
Business News
Dollar creeps higher as virus worries return
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
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U.S. pushes back on call by OPEC+ to join big oil output cuts
Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis. Global oil demand has dropped by as much as 30%, or about 30 million barrels per day (bpd), as measures to reduce the virus’ spread have caused demand for jet fuel, gasoline and diesel to crash. While Saudi Arabia, Russia and other members of the group known as OPEC+ have expressed willingness to …read more […]
Business News
Volkswagen Mexico says employee died in potential case of COVID-19
Volkswagen Mexico issued a statement saying one of its employees in the country had died in a potential case of coronavirus.
Business News
Asian shares step back, oil rebounds in volatile trade
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.
Business News
Dollar creeps higher as virus worries return
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Business News
Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Oil climbed on Wednesday, reversing most of the prior session’s losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.
Trading Ideas
Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Oil climbed on Wednesday, reversing most of the prior session’s losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session. Thursday’s meeting between members of the Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia, is widely expected to be more successful than their gathering in early March. …read more […]