Articles by admin

Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday. Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply. Iraq has agreed with Russia’s Lukoil to start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd. …read more […]

The coronavirus pandemic paired with unprecedented government stimulus efforts to reverse the financial fallout changed the outlook dramatically. …read more […]

Biotech stocks came under pressure along with the broader market in the week ended June 12, as a worsening pandemic situation and its impact on the economy led to an across-the-board sell-off in the global markets.The week kickstarted with the rumor of a big-ticket acquisition. AstraZeneca plc (NYSE: AZN) reportedly approached Gilead Sciences, Inc. (NASDAQ: GILD) with a bid, although experts and analysts shrugged off the possibility of a deal materializing.The FDA promptly approved Viela Bio Inc’s (NASDAQ: VIE) drug for treating neuromyelitis optica spectrum disorder.More importantly, five biopharma companies debuted on Wall Street, raising a combined $983.25 million. The …read more […]

A new analysis chose 36 American activities and asked four public health experts weigh in on the risk of coronavirus exposure for each activity. …read more […]

Thermal imaging stocks have gotten a lot of attention in 2020 due to the product’s potential role in detecting people who may be infected with COVID-19. These devices are playing a role in allowing companies to safely reopen businesses as the economy recovers, but thermal imaging also has a wide range of other applications that could generate some big long-term gains for investors.Amazon.com, Inc (NASDAQ: AMZN) is already using thermal imaging devices in its warehouses and Whole Foods stores. General Motors Company (NYSE: GM) and Wynn Resorts, Limited (NASDAQ: WYNN) have also said they will be using the cameras.In addition …read more […]

Recently, shares of companies in severe financial distress — including Chapter 11 bankruptcy — have been very popular for day traders, a sign that has many concerned. …read more […]

Even if it’s not a huge purchase, we think it was good to see that Glade Knight, the Executive Chairman of Apple… …read more […]

Yemen aims to raise its crude oil production by 25% to 75,000 barrels per day in the coming months, the energy minister of the country’s internationally-recognised government said. Saudi-backed Abd-Rabbu Mansour Hadi’s government controls the eastern and southern areas where Yemen’s oil-and-gas fields are located, while the Iranian-aligned Houthi group controls the capital Sanaa and the oil terminal of Ras Issa on the Red Sea. “The oil ministry has put forward a plan to re-export crude oil from all oil fields in Marib and Shabwa … and we have succeeded in rehabilitating al-Nashama oil port on the Arabian …read more […]

AbbVie (ABBV) and Roche’s (RHHBY) Genentech have revealed positive results from the Phase III VIALE-A study, evaluating Venclexta (venetoclax) with azacitidine in people with previously untreated acute myeloid leukemia (AML) who were ineligible for intensive induction chemotherapy.The results were featured in the 25th European Hematology Association Virtual Congress Press Briefing on June 13.“The significant survival benefits observed in the VIALE-A study reinforce the potential utility of this Venclexta-based combination for people with this aggressive disease” commented Levi Garraway, CMO at Genentech.Indeed, AML is the most common type of aggressive leukemia in adults, which has the lowest survival rate for all …read more […]

(Bloomberg) — Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills.Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to $100 on some days but often coming home with almost nothing. While the restaurant is trying to slowly reopen, Lovely reckons the best he can hope for is a part-time position, requiring him to keep his second job if he’s going to meet his expenses.“My job stopped, but the bills …read more […]

AT&T (T) is considering selling its Warner Bros. Interactive Entertainment gaming unit for around $4 billion to reduce its heavy debt burden, people familiar with the matter have told CNBC.According to the sources, potential buyers include major gaming companies Take-Two Interactive Software (TTWO), Electronic Arts (EA) and Activision Blizzard (ATVI). However, they added that no deal is assured or imminent at this point.One option for a deal could include a commercial licensing agreement which would allow AT&T to continue to drive revenue from its intellectual property, CNBC reported.However VentureBeat reported a separate source suggesting a price closer to $2 billion …read more […]

(Bloomberg) — Iraq has asked BP Plc to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.The deposit, near the southern oil hub of Basra, produces almost 1.5 million barrels a day.The Organization of Petroleum Exporting Countries and its partners decided to reduce production by around 10 million barrels daily until at least the the end of July to prop up prices. Iraq provoked the ire of Saudi …read more […]

American Express (AXP) has announced that its joint-venture in mainland China has received approval from the People’s Bank of China (PBOC) for a network clearing license.This makes American Express the first foreign payments network to be licensed to clear RMB transactions in mainland China. The company expects to begin processing transactions later this year.“We look forward to welcoming millions of new consumers, businesses and merchants in China to American Express, as well as continuing to enhance our support for our global customers when they travel to the region” AXP commented.Express (Hangzhou) Technology Services Company Ltd is American Express’ joint venture …read more […]