Hawkish voices have emerged in China seeking a reevaluation of its Phase 1 trade deal with the United States, with some advisers urging fresh talks, a state-controlled tabloid said, citing sources close to the Chinese government.
U.S. hotel operator Marriott missed already lowered estimates for first-quarter profit by a huge margin on Monday, as bookings plunged due to coronavirus-led lockdowns that kept a quarter of its hotels closed.
Toyota Motor Corp plans to slash North American production by nearly a third through October and expects it will take some time for output to return to normal, according to a person familiar with the matter.
U.S. stocks opened lower on Monday after last week’s rally as investors worried about a second wave of coronavirus infections with the reopening of several economies.
Wall Street’s main indexes were set to fall at the open on Monday after last week’s rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies.
On May 2nd at Berkshire Hathaway’s annual shareholder meeting (also known as Woodstock for Capitalists), in rather dramatic fashion, Warren Buffett announced publicly that Berkshire had unloaded its entire positions of airline stocks. It amounted to a roughly $4 billion fire sale of the leading domestic players – United Airlines, American Airlines, Delta Airlines, and Southwest Airlines.As you know, Mr. Buffett isn’t known for making rash or snap decisions on his holdings. It’s been widely known that his favorite holding period is forever. In Buffett’s mind, this about-face boiled down to a belief that the world had quickly changed for …read more […]
Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears of a second wave of coronavirus infections.
(Bloomberg) — Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.Oil prices, which were down on the day, immediately turned around, with West Texas Intermediate futures jumping as much as 3.4%.Riyadh aims to pump just under 7.5 million barrels a day in June, compared with an official target under the most recent OPEC+ agreement of just under 8.5 million a day. If Saudi Arabia makes good on its pledge, its production will drop to …read more […]
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.
U.S. stock index futures fell on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
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