Oil prices rose for a second day on Wednesday amid preliminary signs that new coronavirus cases are slowing in China, easing concerns over the demand impact from the disease in the world’s second-largest oil consumer.
Oil prices rose for a second day on Wednesday amid preliminary signs that new coronavirus cases are slowing in China, easing concerns over the demand impact from the disease in the world’s second-largest oil consumer. Brent crude was up 73 cents, or 1.3%, at $54.75 per barrel at 0137 GMT. U.S. West Texas Intermediate (WTI) rose 46 cents, or 0.9%, to $50.39. …read more […]
The world’s big oil trading firms are investing heavily in environmentally-friendly projects as they face increasing pressure from investors, governments, activists and financiers to find a sustainable business model.
The world’s largest oil traders are pouring hundreds of millions of dollars into climate-friendly projects – including wind farms, cow manure plants and blue hydrogen – as they seek to match the profits they make from trading oil.
Asian shares and Wall Street futures nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak has kept investors wary.
(Bloomberg) — Lyft Inc. quarterly results and guidance for 2020 disappointed investors who punished the ride-hailing company for not promising profits sooner. The shares dropped more than 5% in extended trading.Lyft’s results came a few days after larger rival Uber Technologies Inc. reported quarterly numbers that blew past analysts’ expectations and announced that it was moving up its target for profitability. The news sent Uber’s stock price soaring.Lyft didn’t provide updated guidance on turning a profit. Late last year, the company said it would be profitable on an adjusted basis by the fourth quarter of 2021. The stock slipped to …read more […]
(Bloomberg) — Masayoshi Son is finally getting some good news.After a punishing year, the founder of SoftBank Group Corp. won approval for the sale of his Sprint Corp. to T-Mobile US Inc., a long-delayed acquisition that had been fiercely opposed by states including New York and California. The deal would extract the Japanese billionaire from the cash-draining U.S. wireless business and remove about $40 billion in net debt from his balance sheet. Sprint shares rose 78% in U.S. trading Tuesday after a federal court approved the deal, while SoftBank’s stock surged as much as 13% in Tokyo.Son has been struggling …read more […]
SoftBank Group Corp shares opened 12.5% higher on Wednesday morning after a federal judge approved the takeover of its U.S. wireless unit Sprint Corp by T-Mobile US Inc. A deal would allow SoftBank, which reports its earnings on Wednesday, to offload a troubled asset when its other tech bets are facing investor scepticism and it is struggling to raise funds for a successor to its $100 billion Vision Fund. One of SoftBank founder Masayoshi Son’s big overseas bets, Sprint has weighed down the group as it struggles to compete with bigger rivals. …read more […]
Lyft Inc on Tuesday forecast slower revenue growth in the new year and the company refused to match larger rival Uber, which recently moved up a key profit target by a year, sticking to its later date of projected profitability.
Tesla is riding a record high, but some of its investors decided to make a surprising move: opting to sell just as the price climbed near $1,000 a share.Last week, after experiencing a surge throughout January, the electric car company founded by Elon Musk saw its stock rise to $968.99. The result of two consecutive quarters of healthy profit, it was also encouraged by what experts believe to be large amounts of short covering tied to strong revenue and the opening of the company’s new China factory, according to Yahoo! Finance.”What we saw as Tesla hit all-time highs [last week]—as …read more […]
The U.S. Federal Aviation Administration says it should have done a better job of ensuring Southwest Airlines Co had certified completion of maintenance on 88 used Boeing 737 jets, as noted in a report by the U.S. Transportation Department’s Inspector General released on Tuesday.
Samsung Electronics on Tuesday unveiled a foldable smartphone shaped like a large makeup compact and put 5G mobile network capabilities into all of its other flagship devices as it strives to retain the mantle of biggest global phone company.
Google will on Wednesday seek to overturn the first of three hefty European Union antitrust fines at Europe’s second-highest court in a landmark case that could determine how EU enforcers take on U.S. tech giants for abuse of market power.
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