Ian Taylor, who built Vitol into the world’s biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.
Refineries from India to South Korea are expected to increase output from June, joining their Chinese counterparts as the easing of lockdown measures boosts demand for oil products, industry executives said. The average operating rate for refineries in Asia is expected to rise to 75.5% and 82.2% in the third and fourth quarters, respectively, from 72.4% in the second quarter out of total capacity of about 35 million barrels per day, according to energy consultancy FGE. Refineries in countries such as India, South Korea, Japan, and Thailand are also expected to pick up the pace of processing the …read more […]
Stocks futures fell Tuesday morning, following global equities lower and pausing after a solid rally over the past several sessions. …read more […]
U.S. luxury jeweler Tiffany & Co said on Tuesday it had amended certain of its debt agreements in order to have sufficient liquidity to navigate the coronavirus outbreak as it posted a 43% slump in quarterly sales.
A little-known Indian IT firm offered its hacking services to help clients spy on more than 10,000 email accounts over a period of seven years.
U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve’s two-day policy meeting.
S&P Global Ratings on Tuesday lowered its outlook on Japan’s sovereign debt rating to stable from positive, citing increased uncertainty over the country’s fiscal health as it boosts spending to overcome the effects of the coronavirus pandemic.
HSBC said on Tuesday that it had lowered its year-end forecast on 10-year British government bond yields to 0%, given a small probability of negative interest rates and a sense that rates will stay low for a long period.
Eminent domain has two rules.
First, the public (government) taking of private property must be for a public use, not a private use. Second, the owner must be given fair market value for the property taken.
Plenty of court proceedings throughout American history attest to the subjectivity of both of these rules, but in general it has functioned fairly well.
What constitutes property has been argued back and forth, but for sure it includes more than land. It can be buildings and possessions on that land. Even patents and other intellectual property.
The point is that when government decides to take stuff, it can’t …read more […]
Hong Kong will lead a $5 billion rescue of Cathay Pacific Airways , which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic.
Top news and what to watch in the markets on Tuesday, June 9, 2020. …read more […]
Vitol’s former chief executive and chairman Ian Taylor has died at the age of 64 from cancer, according to an internal memo and four sources familiar the matter.
(Bloomberg) — As a sense of euphoria sweeps through global equity markets propelling stocks to regain $21 trillion in value from a March low, the asset class is looking increasingly frothy.While stock luminaries who had advocated for a bull zone look like winners in hindsight, the debate goes on about whether the rally is a bear market bounce, doomed to end. Asia ended the day up but off the session’s high, while equities in Europe slipped in early trade, with the Stoxx Europe 600 falling as much as 1.6%. It’s a similar picture for the U.S. market as S&P 500 …read more […]
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