Year: 2020

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Energy group BP will increase its low-carbon spending to $5 billion a year by 2030 and boost its renewable power generation to 50 gigawatts (GW) while shrinking oil and gas output by 40% compared with 2019, it said on Tuesday. The portfolio it plans to build would include renewables, bioenergy and early positions in hydrogen and carbon capture and storage technology, with the bulk of the budget to be spent by 2025. BP’s oil and gas production is expected to shrink by at least one million barrels of oil equivalent a day from 2019 levels, the company said, …read more […]

The oil giant warns the coronavirus pandemic could weigh on demand for a “sustained period”. …read more […]

Shares in Plug Power (PLUG) spiked 19% in Monday’s trading after the company announced a new deal with UK-based supermarket Asda. PLUG will provide the hydrogen fuel cell solutions to power the lift truck fleet within the retail giant’s extensive supply chain network.Asda’s partnership with Plug Power includes a purchase order agreement for Plug Power’s full-service GenKey solution, beginning at the UK facility in Skelmersdale. The turnkey solution includes fuel cells, hydrogen fueling equipment, hydrogen and service.“This new customer continues Plug Power’s growth in Europe and represents the first deployment at scale of hydrogen fuel cell technology for material handling …read more […]

The shares of Alterity Therapeutics Ltd. (NASDAQ: ATHE) advanced in the after-hours session trading in New York on Monday and in the regular session in Sydney on Tuesday.What Happened: The surge came as Alterity Therapeutics reported positive data from an animal testing of ATH434 — its leading drug candidate for Multiple System Atrophy, a Parkinsonian disorder.The new data “independently confirm and extend previous findings demonstrating that ATH434 reduces α-synuclein pathology, preserves neurons, and improves motor performance,” Alterity Therapeutics noted.Why It Matters: The Melbourne-based pharmaceutical company in June said it had reached an agreement with the United States Food and Drug …read more […]

The pace of easyJet’s capacity recovery is behind Europe’s largest budget carrier, Ryanair, which said for July it would fly about 40% of normal capacity, rising to 60% in August and 70% in September, and Wizz Air which is at about 70%. EasyJet said on Tuesday it remained focused on costs. …read more […]

The net loss, which was in line with analysts’ expectations, was largely a result of BP’s decision to wipe $6.5 billion off the value of oil and gas exploration assets after it revised sharply lower its oil and gas price forecasts. London-based BP’s second-quarter underlying replacement cost loss, the company’s definition of net income, reached $6.7 billion, roughly in line with forecasts of $6.8 billion in a company-provided survey of analysts. …read more […]

Japan’s Sony Corp on Tuesday reported a 1.1% decline in first-quarter operating profit, much milder than market estimates as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games. The electronics and entertainment firm posted April-June profit of 228.4 billion yen ($2.15 billion), versus 230.9 billion yen a year prior. The firm also forecast profit to fall 26.7% to 620 billion yen in the year through March 2021, its lowest in four years, but better than a drop of at least 30% it estimated in May. …read more […]

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US regulators have put forward a list of changes needed before the ill-fated planes can restart flights. …read more […]

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The U.S. Federal Aviation Administration said on Monday it is proposing requiring four key Boeing Co 737 MAX design and operating changes to address safety issues seen in two fatal crashes that led to the plane’s grounding in March 2019. The agency is issuing a proposed airworthiness directive to require updated flight-control software, revised display-processing software to generate alerts, a revision of certain flight-crew operating procedures and changes in the routing of some wiring bundles. While the measures align with those expected by Boeing and aerospace analysts for months, the announcement comes after a series of delays …read more […]

Yahoo Finance’s Dan Howley joins the On the Move panel to discuss a lawsuit that could impact Apple’s ability to sell many of its products in China.
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Posted by OFX AUD – Australian Dollar The Australian dollar edged lower through trade on Monday, continuing Friday’s correction to touch intraday lows at 0.7070. In the absence of any headline data the AUD succumbed to a broader USD rebound as the worlds base currency benefited from a correction in last months … Continue reading “Australian Dollar edges lower as USD recoups July’s losses”The post Australian Dollar edges lower as USD recoups July’s losses appeared first on . …read more […]

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