Trading Ideas
Year: 2020
Business News
Google data shines light on whether coronavirus lockdowns worldwide are working
Alphabet Inc’s Google has published charts showing how the coronavirus has brought hard-hit Italy to a standstill, led to runs on grocery stores around the world and prompted a stark drop in going-out between Mardi Gras and St. Patrick’s Day.
Business News
Factbox: Google location data shows slump in trips to malls, offices
Google on Thursday published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of COVID-19.
Business News
Excluisve: Air France-KLM in talks on multibillion euro state-backed loan package
Air France-KLM is in talks with banks to receive up to 6 billion euros ($6.5 billion) in loans guaranteed by the French and Dutch governments, as the airline group braces for a sustained coronavirus shutdown, sources told Reuters.
Business News
Business booms for coffin-makers in coronavirus-hit France
Two hauliers load their lorries with what is fast becoming a precious commodity in France as the coronavirus pandemic takes its dreadful toll – coffins.
Trading Ideas
Trump to host Big Oil executives at White House to discuss market slump
U.S. President Donald Trump will meet with oil company executives at the White House on Friday to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war. Trump said on Thursday Saudi Arabia and Russia had agreed to cut output by an unprecedented 10 million to 15 million barrels per day (bpd), representing 10% to 15% of global supply, after he discussed the issue with their leaders. Trump said in a press conference that he made no concessions to Saudi Arabia or Russia and did not agree to a …read more […]
Business News
UK facing Depression-style hit as firms slump in March
Britain’s economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.
Business News
Brent oil rises above $32 on hopes of output deal
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.
Business News
Factbox: Oil analysts sceptical about Saudi-Russian ‘deal’
U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.
Business News
Ford says Europe manufacturing ops to remain suspended at least until May 4
Ford Motor Co said on Friday the temporary suspension of vehicle and engine production at most of its European manufacturing sites is expected to run at least until May 4.
Business News
China probes alleged fraud at Luckin Coffee, banks review IPO work
China’s securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc and sources said some of the banks involved in the Chinese chain’s successful U.S. IPO last year were reviewing their work in the listing.
Trading Ideas
OPEC+ Pushes for Others to Join a Global Output Cut; Oil Rallies
(Bloomberg) — The OPEC+ coalition is pushing for other major oil producers to join it in a deep reduction of global crude output to stem the historic rout in prices.A global cut of 10 million barrels a day is a realistic goal, according to a delegate, who spoke on condition of anonymity. OPEC+, an alliance led by Saudi Arabia and Russia, has already scheduled a virtual meeting on Monday and wants other nations to join talks as soon as possible.The 10 million figure was first touted by President Donald Trump on Thursday, who called for a coordinated production cut. He …read more […]
Trading Ideas
Incoming economic data may be ‘garbage’: Morning Brief
Top news and what to watch in the markets on Friday, April 3, 2020. …read more […]
Trading Ideas
Luckin Coffee Scandal Deals New Blow to Corporate China
(Bloomberg) — The fallout from Luckin Coffee Inc.’s accounting scandal is spreading far beyond the high-flying Starbucks challenger, with renewed concerns about Chinese corporate governance dragging down stocks across industries and threatening to bring a halt to the country’s overseas initial public offerings.The Xiamen-based company’s announcement that its chief operating officer and some underlings may have fabricated billions of yuan in sales cast doubt on what was supposed to be one of China’s fastest-growing companies. Luckin Coffee shares plunged as much as 81% in U.S. trading and CAR Inc., a rental company founded by Luckin Coffee’s chairman, sank 54% in …read more […]
Trading Ideas
Tesla Deliveries Beat Analysts’ Estimates, Sparking Stock Rally
(Bloomberg) — Tesla Inc.’s early-year deliveries fell less than expected from record levels reached late last year, winning support from investors who pushed the shares 14% higher ahead of Friday’s open.Tesla handed over 88,400 vehicles worldwide in the first quarter, down 21% from the last three months of 2019. But the total beat analysts’ average estimate for about 78,100. The carmaker’s stock was priced at $516.21 in premarket trading, up from a close of $454.47 in New York.“I’m shocked they did so well,” Gene Munster, managing partner of venture capital firm Loup Ventures, said by phone. “I don’t know how …read more […]