Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic.
Oil prices slumped on Friday after China’s decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world’s second-largest oil user. Brent crude fell $1.56, or 4.3%, to $34.50 a barrel by 0323 GMT, after gaining nearly 1% on Thursday. West Texas Intermediate (WTI) crude dropped by $1.79, or 5.3%, to $32.13 a barrel, having gained more than 1% in the last session. …read more […]
For many, the first big step they take on the road to recovery from the coronavirus-induced recession could start with a plane ticket. …read more […]
Three big earnings announcements from Alibaba, Deere and Foot Locker will be in focus Friday. …read more […]
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.
SoftBank Group Corp said on Friday its planned sale of 5% in its domestic telco SoftBank Corp would fetch 310.2 billion yen ($2.9 billion), as part of a programme to raise $41 billion through asset sales.
Asian shares were set for another retreat on Friday as U.S.-China tensions curbed investor risk appetite and caused global equity markets to stumble.
EasyJet’s board looks poised to win a shareholder vote on Friday and deal a blow to its founder and long-term critic over the British low-cost airline’s plan to stick with a $5.5 billion plane order.
“Hi Ho Silver, Away!”
Those who used to watch The Lone Ranger will understand my intro. But even if you missed the connection, War Room members certainly didn’t.
A couple of weeks ago, members entered a spread trade on Coeur Mining (NYSE: CDE), a producer of silver and gold. Now, I don’t really like Coeur Mining as a long-term, fundamental play. It’s not as well-run as most other metals-producing companies. The management has diluted shareholders with capital raises and missed estimates consistently.
So why did we trade Coeur Mining in The War Room and make a bundle from it?
It’s about sentiment and finding …read more […]
Hewlett Packard Enterprise on Thursday unveiled a plan targeting gross savings of at least $1 billion by 2022 and cut the base salaries of top executives by 25% as the software maker seeks to weather the coronavirus crisis.
(Bloomberg) — It’s been three weeks since President Donald Trump’s executive order to keep meat plants running in the pandemic and the government began preparing fresh guidance on how to keep their employees safe. Infections are still on the rise as workers say they’re being forced to put themselves in harm’s way in the name of food security.Based on 13 interviews with employees, labor representatives and a U.S. government inspector at meat plants in states including Arkansas, Virginia, Nebraska, North Carolina and Texas, employees are still standing elbow-to-elbow along production lines. There are some plastic barriers, but employees haven’t been …read more […]
U.S. auto parts maker Lear Corp has asked some workers in Mexico to restart activity on Friday, including training sessions on safety, the company said in a message to employees.
Facebook’s (FB) universe is getting even bigger. On Tuesday, the social media colossus unveiled Facebook Shops, elbowing its way to the front of the e-commerce queue. The platform will act as a digital shopfront where businesses of all sizes will be able to sell their products. Customers will be able to make purchases directly through either Facebook or Instagram. “We think Facebook Shop in a simplistic bull case could drive up to as much as a $30 billion revenue opportunity, across a combination of take-rate driven transactional and advertising revenue,” said Deutsche Bank analyst Lloyd Walmsley. Facebook hopes the move …read more […]
The latest U.S. government action against China’s Huawei takes direct aim the company’s HiSilicon chip division–a business that in a few short years has become central to China’s ambitions in semiconductor technology but will now lose access to tools that are central to its success.
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