Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.
(Bloomberg) — President Donald Trump said he doesn’t think he’ll have to impose tariffs on imported oil to blunt the impact of a price war between Russia and Saudi Arabia, but held out the option to protect U.S. oil producers.“I would use tariffs if I have to,” he said at a White House news conference on Sunday, restating his position from Saturday’s briefing. “I don’t think I’m going to have to.”The U.S. has been in talks with Russia and Saudi Arabia about cutting excess production that’s cratered global oil prices, including calls between Trump and the leaders of both nations. …read more […]
Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although some spot glimmers of light at the end of the tunnel.
Oil prices skidded on Monday after Saudi-Russian output discussions showed no immediate signs of progress while U.S. stock futures jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.
Oil prices skidded on Monday after Saudi-Russian output discussions showed no immediate signs of progress while U.S. stock futures jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. Sterling fell after British Prime Minister was admitted to hospital following persistent coronavirus symptoms as the pandemic rapidly spreads. Brent crude fell as much as $3 in early Asian trading after Saudi Arabia and Russia postponed a meeting over a potential pact to cut production to Thursday. …read more […]
Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. In currency markets, sterling fell after British Prime Minister was admitted to hospital following persistent coronavirus symptoms as the pandemic rapidly spreads. Brent crude fell as much as $3 in early Asian trading after Saudi Arabia and Russia postponed a meeting over a potential pact to cut production to Thursday. …read more […]
The coronavirus-driven global shift to working from home is set to have boosted demand for Samsung Electronics’ memory chips from laptop makers and data centres, but first-quarter profits are likely to remain flat as the outbreak weakened consumer electronics sales.
British aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
In a recent interview with the South China Morning Post, the founder Chinese telecoms giant Huawei said he was inspired by the political system and business governance he saw in the United States when he started the company. Ren Zhengfei also spoke about how the world’s largest telecommunications equipment supplier, and China’s biggest smartphone maker, is dealing with US sanctions.
(Bloomberg) — Crude fell sharply in Asia after a delay to a planned meeting of top producers to discuss output curbs raised doubts over the prospects for an agreement.Brent futures dropped as much as 12%, after jumping almost 14% on Friday. The OPEC+ bloc including Russia will hold a virtual gathering on April 9 instead of Monday after fresh divisions emerged. Saudi Arabia and Russia have indicated that they want the U.S. to join any agreement, but President Donald Trump had only hostile words for OPEC on Saturday, and threatened tariffs on foreign oil.State oil producer Saudi Aramco has delayed …read more […]
Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday’s trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.
Stelios Haji-Ioannou, the founder of easyJet Plc , has warned that he will not inject any fresh equity into the airline it terminates a contract with Airbus SE for 4.5 billion pounds ($5.50 billion), according to a letter https://easy.com/wp/wp-content/uploads/2020-04-05-stelios-media-statement-on-easyjet-and-airbus-for-release-6april20-final.pdf posted on EasyGroup’s website.
Private equity firm Silver Lake Partners is preparing to seek at least $16 billion from investors for its sixth flagship buyout fund, braving the economic uncertainty of the coronavirus outbreak, according to people familiar with the matter.
UK aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, due to the coronavirus outbreak, the Financial Times reported late on Sunday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
