The closing of a $252 million sale of the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer has been delayed, a city official and source with knowledge of the agreement said on Friday.
(Bloomberg) — Saudi Arabia transferred 150 billion riyals ($40 billion) from its central bank to its sovereign wealth fund as it went on an investment spree seeking to take advantage of recent market turmoil.The transfers from the kingdom’s foreign-currency reserves to its Public Investment Fund were made in March and April on an “exceptional” basis, and will “strengthen the investment capacity of the fund,” Finance Minister Mohammed Al-Jadaan said in a statement published by the official Saudi Press Agency on Friday.The move comes as the world’s largest crude exporter faces exceptional fiscal pressure from a crash in global oil markets. …read more […]
Germany and Brussels have reached a preliminary agreement in the ongoing row over the 9 billion euro ($10 billion) bailout of carrier Lufthansa , two people familiar with the matter said.
A gauge of global equities rebounded and crude oil rose on Friday after U.S. President Donald Trump ordered an end to Washington’s special treatment of Hong Kong, a move investors welcomed as unlikely to jeopardize a trade accord with China.
A United Nations aviation-led task force is urging airlines, airports and countries to come up with a uniform approach to flying safely during the coronavirus pandemic, although it stopped short of providing specific requirements for the hard hit industry’s recovery.
U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the U.S. economy than investors had feared.
Stocks closed at their highest levels since at least March, ending Friday’s volatile session mostly higher after President Donald Trump announced retaliatory measures against China that were less negative for markets as some had feared. Myles Udland, Sean Smith, Rick Newman, and Akiko Fujita discuss on The Final Round. …read more […]
Until early May, Southwest Airlines executives described their revenue stream as a leaky bucket, with some new bookings coming in, but not enough to offset losses from itinerary cancelations. “You just can’t keep the water up,” Andrew Watterson, the airline’s chief commercial officer, said in an interview. As many U.S. states, cities, and counties dropped […] …read more […]
The Trump administration will study ways to safeguard Americans from the risks of investing in Chinese companies, U.S. president Donald Trump said on Friday, ratcheting up pressure on the firms to comply with U.S. accounting and disclosure rules.
United Airlines Holdings Inc said on Friday it will be eliminating 13 officer positions as it consolidates roles and restructures some key departments to address the severe financial impact of the coronavirus crisis on its business.
The S&P ended a choppy session higher on Friday after President Donald Trump made comments on China that were less worrisome for the U.S. economy than investors apparently had feared.
Four U.S. senators, including a China hawk, urged the Federal Trade Commission on Friday to investigate allegations that the popular video app TikTok violated a consent decree protecting children’s privacy.
Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.
Global stocks fell while bonds and the euro climbed on Friday as investors turned cautious over China’s national security law on Hong Kong, but U.S. stocks pared earlier losses after President Trump did not announce any new retaliatory tariffs.
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