Trading Ideas
Astrazeneca, Gilead reportedly eyed merger
Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Anjalee Khemlani discuss a possible merger between Astrazeneca and Gilead Sciences. …read more […]
Month: June 2020
Business News
Wall Street opens higher on economic rebound hopes
Wall Street’s main indexes opened higher on Monday, building on last week’s rally after a surprise rebound in jobs bolstered views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
Trading Ideas
Minneapolis moves to defund police department
The Black Lives Matter movement has sparked some monumental changes, with cities making moves to defund police forces. Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Andy Serwer discuss. …read more […]
Business News
UK’s quarantine will be quashed or dropped: Ryanair’s O’Leary
The United Kingdom’s coronavirus quarantine will be struck down by the courts or dropped within weeks as some of Europe’s biggest airlines prepare to file a legal challenge by the end of Tuesday, Ryanair boss Michael O’Leary told Reuters.
Business News
Exclusive: Volkswagen supervisory board to discuss VW brand leadership – sources
Volkswagen’s supervisory board will discuss the leadership of the company’s core VW brand at an extraordinary meeting due to be held on Monday, sources familiar with the discussions told Reuters.
Business News
Wall Street set to rise on swift economic rebound hopes
The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week’s sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
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PG&E Shares Sink 13% In Pre-Market On Discounted $3.25B Equity Sale
Shares in PG&E Corp. (PCG) sank as much as 13% in pre-market trading after the debt-strapped U.S. utility announced that a group of investors agreed to commit to a $3.25 billion equity investment at a discounted share price.The U.S. utility disclosed that a number of investors, including Appaloosa, Third Point LLC, Fidelity Management & Research Co. LLC and Zimmer Partners, have committed to buy shares at a price of up to $10.50 in an offering to generate $3.25 billion. The stock plunged as much as 13% in pre-market trading to $10.95 after closing at $12.52 on Friday.The equity investment agreement …read more […]
Business News
Austria strikes €450 million bailout deal for Lufthansa unit: sources
Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
Business News
Austria’s Kurz to hold news conference on Austrian Airlines at 1500 GMT
Austrian Chancellor Sebastian Kurz, Vice Chancellor Werner Kogler and Finance Minister Gernot Bluemel will hold a news conference on Lufthansa unit Austrian Airlines at 5 p.m. (1500 GMT), the government said in a statement on Monday.
Business News
Exclusive: Fiat, PSA merger hits EU roadblock, may need concessions – sources
Fiat Chrysler’s planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies’ market share in small vans, indicating concessions may be required, sources said.
Business News
Exclusive: Oil major BP to cut 15% of workforce
BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy, it said on Monday.
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Libya Restarts a Second Oil Field Even as OPEC+ Extends Cuts
(Bloomberg) — Libya took another step toward reviving its moribund oil industry by restarting production at a second important field after a five-month halt.Pumping began on Sunday at the El-Feel deposit, which had suspended operations due to the North African country’s civil war. El-Feel is resuming just a day after oil started flowing again from Libya’s largest deposit, Sharara.Any fresh barrels from these fields could complicate efforts by the OPEC+ producer alliance to limit global supply and push crude prices higher. The group agreed on Saturday to extend historic production cuts of 9.6 million barrels a day through July. Libya, …read more […]
Trading Ideas
BP to cut 10,000 jobs as virus hits demand for oil
The oil giant plans to slash around 15% of its workforce in response coronavirus crisis. …read more […]
Business News
Gilead shares rise 5% on report of AstraZeneca’s interest in megamerger
Shares of U.S. drugmaker Gilead Sciences Inc rose over 5% in premarket trading on Monday after a report it had been approached by Britain’s AstraZeneca for a possible merger to form one of the world’s largest drug companies.
Business News
Ryanair boss sees UK quarantine dropped or quashed by end-June
Ryanair believes Britain’s courts will either strike down a 14-day quarantine for international travellers this week or the government will drop the measure before the end of June, boss Michael O’Leary told Reuters on Monday.