Oil prices fell on Monday as investors worried about a second wave of coronavirus infections, but new output cuts from Saudi Arabia tempered worries about oversupply and limited price losses.
(Bloomberg) — Oil’s rally lost steam even after Saudi Arabia said it would slice production by an extra million barrels a day in June as doubts surfaced over whether the producer will fulfill its pledge.Futures in New York and London erased morning gains that followed Saudi Arabia saying it will pump 7.492 million barrels a day next month, about a million barrels below its official OPEC+ output target. That would be the lowest level since mid-2002, according to data compiled by Bloomberg.“While Saudi is undoubtedly the market’s swing supplier, delivering such a volume turnaround in the space of only a …read more […]
General Mills announced that it expects to exceed its previously provided full-year sales growth expectations. Yahoo Finance’s Heidi Chung breaks down the details.
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Toyota Motor Corp plans to slash production in North America by nearly a third through October due to the coronavirus crisis and expects it will take some time for output to return to normal, a person familiar with the matter said.
The S&P 500 and Dow Jones indexes retreated on Monday after last week’s rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies.
Fritz Gerber, the long-time head of Roche Holding who helped transform the Swiss company from an image-tarnished vitamins, drugs and chemicals conglomerate into a biotechnology and diagnostics giant, has died at the age of 91.
The coronavirus epidemic, and the economic and society lockdowns put in place to combat it, have body-slammed the financial world; the S&P 500 is still down 13% even after a 5 week rally, while oil prices are stuck in a doldrums, with Brent trading at just $30 and WTI at $25. Corporate earnings season has been grim, and some 120 S&P companies have rescinded their 2020 guidance while others have canceled dividend payments or stock buybacks.So, investors are confused; they aren’t seeing the usual signals that indicate what the market may do, and opinions are deeply divided on whether we’ll …read more […]
During the 2020’s Berkshire Hathaway annual shareholders meeting, Bill Murray had a question about health care workers for Warren Buffett. …read more […]
During the coronavirus crisis, big-name executives have come back to day-to-day operations to lead, consolidating control and rolling up their sleeves. Here’s how to explain this phenomenon. …read more […]
Toyota Motor Corp plans to slash production in North America by nearly a third through October due to the coronavirus crisis and expects it will take some time for output to return to normal, a person familiar with the matter said.
Oil prices were mixed on Monday, supported by Saudi Arabia’s move to reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, but pressured by fears of a second wave of coronavirus infections.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
A jump in coronavirus cases in South Korea and Germany rattled investors and sent global equities lower on Monday, while safe- haven assets including the dollar and U.S. Treasuries edged higher.
St. Louis Fed President James Bullard joins Yahoo Finance’s Alexis Christofourous, Brian Sozzi and Brian Cheung to discuss why he believes negative interest rates are not a clear remedy for the coronavirus-induced economic crisis in the United States, despite market bets on below-zero rates next year. …read more […]
U.S. Treasury Secretary Steven Mnuchin said on Monday he sees no need for the country to buy back debt and that he plans to borrow money long-term to lock in low interest rates, as the coronavirus pandemic rocks the economy.
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