Wall Street bounced on Thursday as hints of a deal between Russia and Saudi Arabia drove a record 30% surge in oil prices, outweighing the shock of a jump in U.S. jobless claims past 6 million.
Nivea-maker Beiersdorf on Thursday scrapped its 2020 outlook due to the coronavirus pandemic, and also released preliminary first-quarter sales that showed a 3.6% fall from a year earlier.
RingCentral founder Vlad Shmunis details a big uptick in business as people work from home during the coronavirus in an interview with Yahoo Finance. …read more […]
Jobless claims surged for the second week in a row. Franklin Templeton Fixed Income CIO Sonal Desai joins Yahoo Finance’s On The Move to discuss how the 6.6 million jobless claims were anticipated. …read more […]
Oil prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of oil producers to deal with the market turmoil.
(Bloomberg) — Zoom Video Communications has been one of the few stand-outs in the current market, with shares doubling and usage surging during the coronavirus pandemic, but now the company’s high profile has raised concerns about user privacy and security.The teleconferencing company has become a favorite business tool as more employees work remotely, but concerns over privacy could complicate that popularity and expose it to new risks. For example, Zoom was recently sued by one user who claimed it is illegally disclosing personal information, and on Wednesday, Reuters reported that SpaceX had banned its employees from using Zoom due to …read more […]
In mid-March, Aurora Cannabis (ACB) hit a 52-week low of $0.60 per share, with some commentators believing it hadn’t hit bottom yet. While it appears a bottom is in, the question going forward is whether or not the company can hold on to some of its recent gains.After hitting its bottom, a little over a week later the company soared to over $1.13 per share, pulling back to $0.85 per share as I write.In this article we’ll look at whether or not the company will be able to sustain or increase these gains, and what it would take to do …read more […]
The Bank of England said on Thursday it will double the size of its corporate bond purchase program to at least 20 billion pounds ($24.7 billion), part of a previously announced stimulus package to help the economy during the coronavirus crisis.
The world’s top oil and gas companies are rushing to raise tens of billion of dollars in debt to help them weather one of the worst downturns in the sector’s history while faced with high fixed costs and looming dividend payments. Royal Dutch Shell , BP , France’s Total , Norway’s Equinor and Austria’s OMV have all tapped bond markets this week, raising more than $10 billion according to Reuters calculations. Oil prices sank 65% in the first three months of the year to lows of $22 a barrel as strict movement restrictions imposed around the …read more […]
Boeing Co (BA) on Thursday announced the rollout of a voluntary layoff plan for employees as the embattled global aerospace industry is facing a long lasting impact from the coronavirus pandemic.Under the terms of the plan, eligible employees who want to leave the company will be offered pay and benefits packages, Boeing chief executive officer Dave Calhoun said in a memo to more than of its 153,000 employees. Details of the plan are expected to be disclosed over the coming three to four weeks. The move aims to stave off additional workforce actions, Calhoun explained.“We’re in uncharted waters. We’re taking …read more […]
U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%.
Production at Nissan’s British factory, the country’s biggest car plant, is suspended throughout April, continuing a shutdown in place since mid-March as the coronavirus outbreak continues across Europe.
Desperate to sell pricey spring looks during the coronavirus lockdown, retailers are turning to social media to show their latest styles in somber, stay-at-home settings.
U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%. Trump said he spoke with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman, and now expected the two nations to cut output by 10 million barrels per day (bpd) – an unprecedented number representing 10% of global supply. Trump said cuts could amount to as much as 15 million bpd but didn’t say whether the …read more […]
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