UBS’s most senior managers will each contribute the equivalent of three months’ salary to fight the new coronavirus, Chief Executive Sergio Ermotti said on Thursday, as he cautioned over hopes for a swift recovery from the economic downturn caused by the epidemic.
Officials in Prague are using the coronavirus crisis to get a firmer grip on short-term rentals like Airbnb, which they say have squeezed locals out of the Czech capital’s centre.
Rosneft believes a cut in oil production of 10 million barrels per day (bpd) by OPEC+ would be sufficient to rebalance oil markets, Renaissance Capital (RenCap) said late on Wednesday following a call with the Russian energy giant.
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has accumulated stakes in four major European oil companies, a source familiar with the transaction said. The four are Royal Dutch Shell , France’s Total , Norway’s Equinor and Italy’s Eni , the source said, confirming a Wall Street Journal report. The source did not confirm the combined value of the stakes, which the WSJ reported were worth $1 billion. …read more […]
UniCredit remains strongly committed to increasing returns for investors in Italy’s biggest bank, its chairman said, following a decision to suspend dividend payments and a share buyback to comply with supervisory guidance.
Top news and what to watch in the markets on Thursday, April 9, 2020. …read more […]
In this article we are going to estimate the intrinsic value of AbbVie Inc. (NYSE:ABBV) by taking the expected future… …read more […]
Russia wants coordinated joint action to stabilise global oil markets, Kremlin spokesman Dmitry Peskov said on Thursday ahead of a meeting between OPEC and non-OPEC producers.
Nissan Motor Co Ltd has requested a $4.6 billion commitment line from major lenders to cushion the impact of the coronavirus pandemic while it seeks to engineer a desperately needed turnaround, people with knowledge of the matter said.
Tesla Inc sold 10,160 vehicles in China in March, its highest ever monthly sales in the world’s largest auto market, the China Passenger Car Association (CPCA) said on Thursday.
Oil prices rose on Thursday on expectations the world’s leading crude producers will overcome obstacles at a meeting later in the day that have so far prevented a deal to cut output in response to a collapse in global demand.
UBS senior executives will contribute 50% of their fixed salaries over the next six months to efforts to fight the new coronavirus epidemic, Chief Executive Sergio Ermotti said on Bloomberg TV on Thursday.
(Bloomberg) — European stocks pared their gains alongside U.S. equity futures on Thursday as investors mulled estimates of how soon economies can reboot when the coronavirus outbreak eases. Oil rose after Russia signaled it’s ready to make production cuts.Declines in telecoms and media shares helped trim an earlier advance by the Stoxx Europe 600 Index. American index contracts fluctuated a day after the S&P 500 closed over 3% higher into bull-market territory. Most Asian stocks saw a modest rise, though Japanese shares retreated. For many markets it is the last trading day of the week before the Easter break.Treasuries rose. …read more […]
(Bloomberg) — The next step for some U.S. refineries that have already cut way back may be a full stop.Marathon Petroleum Corp. plans to idle its Gallup, New Mexico, refinery next week, according to a person familiar with the matter. It’s the first U.S. facility to shut as the coronavirus pandemic empties skies of passenger planes and the roads of cars.It’s not likely to be the last. Major U.S. refiners, including Marathon, Valero Energy Corp. and Phillips 66, have lowered rates at their facilities to be at or near minimum levels as storage tanks fill up with fuel they can’t …read more […]
Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.
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