U.S. stock index futures climbed on Wednesday, with Nasdaq futures inching closer to a record high as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest.
Oil climbed above $40 a barrel for the first time since March on Wednesday, supported by signs of recovery in coronavirus-hit demand, lower U.S. inventories and expectations that OPEC+ will keep oil output cuts in place.
(Bloomberg) — A meeting between OPEC and its allies this month was in doubt as Saudi Arabia and Russia drew a hard line over quota cheating by some nations.The two leaders of OPEC+ told other members that talks planned for early June to discuss extending record output cuts may not happen if countries including Iraq and Nigeria don’t make firm promises to implement their supply curbs, said people familiar with the matter.Without any changes to the deal, the group is due to start easing its cuts from July. Oil erased gains in New York, trading at $36.79 a barrel as …read more […]
Spanish utility Iberdrola said on Wednesday it will invest up to 4 billion euros ($4.5 billion) over the next four years in France to develop renewable energy.
Top news and what to watch in the markets on Wednesday, June 3, 2020. …read more […]
Nissan’s car manufacturing plant in Sunderland, northern England, which employs 7,000, is “unsustainable” if Britain leaves the European Union without a trade deal, it said on Wednesday.
World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising COVID-19 tolls.
China’s Huawei Technologies acted to cover up its relationship with a firm that had tried to sell prohibited U.S. computer gear to Iran, after Reuters in 2013 reported deep links between the firm and the telecom-equipment giant’s chief financial officer, newly obtained internal Huawei documents show.
Oil rose on Wednesday, topping $40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.
World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising COVID-19 tolls.
Lufthansa has pledged a wide-ranging restructuring, from job cuts to sales of non-core assets, as it seeks to repay a 9 billion euro ($10.1 billion) state bailout and navigate deepening losses in the face of the coronavirus pandemic.
Volvo Cars, owned by China’s Geely Holding, said on Wednesday it sold 40% more cars in May than in April, as restrictions to contain the spread of the COVID-19 pandemic started to ease in several markets.
Nomura Holdings Inc is considering having fewer staff work at its Tokyo headquarters permanently now that the coronavirus pandemic has spurred a huge shift to remote working, its chief executive said.
China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns. While China – the world’s second-largest oil consumer – is the outlier for now, easing travel restrictions and stimulus packages aimed at resuscitating economies could accelerate global oil demand in the second half of 2020, industry executives said. “The brisk resumption of Chinese oil demand, 90% of pre-COVID levels by the end of April and moving higher, is …read more […]
China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.
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