French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.
From Baltimore – Something momentous occurred in financial markets on May 7, and it may portend an important transition in the economy and financial markets.
Yet this event went largely unnoticed by investors and market analysts. You didn’t hear much about it in the media either (most of that group is determined to peddle only doom and gloom).
What happened? Well, the Nasdaq Composite Index went positive for the year.
And as of this writing, the Nasdaq – which tracks more than 2,500 stocks – is up more than 2% since January 1.
It’s not a lot, but it’s pretty impressive in a year …read more […]
When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output. Now that crude has rallied on the back of those cuts from below $20 a barrel to $40 or more, the group known as OPEC+ faces a fresh challenge: stopping U.S. shale production delivering another surprise by recovering equally quickly. “The plan is to stick to prices of $40-$50 per barrel because as soon as they rise any further to say $70 per …read more […]
SoftBank Group Corp is launching a $100 million fund to invest in “companies led by founders and entrepreneurs of colour”, in the latest corporate action as protests roil the United States.
(Bloomberg) — Oil turned lower after U.S. government data showed fuel demand isn’t recovering as quickly as first believed.American gasoline supplies rose to the highest level in more than a month and distillate inventories jumped by the most since January 2019, according to the Energy Information Administation. Those increased offset a larger-than-expected decline in crude stockpiles, dragging West Texas Intermediate crude futures down by 1%.Production curbs by OPEC and its allies have helped the market move toward balance, after the massive demand destruction at the height of the virus pandemic in April. But the recovery remains tenuous, with U.S. producers …read more […]
A federal judge said Apple Inc must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses.
While dismissing most claims, U.S. District Judge Yvonne Gonzalez Rogers ruled late Tuesday that shareholders can sue over Chief Executive Tim Cook’s comments touting strong iPhone demand on a Nov. 1, 2018 analyst call, only a few days before Apple told its largest manufacturers to curb production. “Absent some natural disaster or other intervening reason, it is simply implausible that Cook would not have known that iPhone demand in China was falling mere days before cutting production lines,” Rogers wrote. …read more […]
New orders for U.S.-made goods plunged in April and business spending plans on equipment were much weaker than initially thought, suggesting business investment remained depressed early in the second quarter amid the COVID-19 pandemic.
A jump in Boeing shares lifted Wall Street on Wednesday, with investors remaining optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest in the country.
President Donald Trump’s administration said on Wednesday it will bar Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to allow U.S. air carriers to resume flights.
Airbus is looking to hold underlying jet output at 40% below pre-pandemic plans for two years, an approach which adds new pressure to cut thousands of jobs, industry sources said.
New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.
Warner Music Group Corp said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world’s third-largest recording label selling more shares than originally planned.
Oil fell after touching its highest since March at more than $40 a barrel on Wednesday as doubts emerged about the timing and scale of a potential extension to the oil supply pact between OPEC and its allies.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
