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Shell Sees Oil Sales Volume, Margins Stable in First Quarter

March 31, 2020 admin Comments Off on Shell Sees Oil Sales Volume, Margins Stable in First Quarter

(Bloomberg) — Royal Dutch Shell Plc said it doesn’t expect the coronavirus to have a significant effect on overall demand for its oil products in the first quarter.While the company warned that the pandemic was creating major uncertainties around oil prices and boosting volatility, it experienced a “relatively minor” impact in the first two months of the year and expects sales volumes and margins for the quarter to be relatively unscathed.“Marketing margins in the first quarter are expected to remain strong, as the impact on demand from COVID-19 is not expected to be significant at the Shell group level,” the …read more […]

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Stocks Gain With U.S. Futures; Dollar Strengthens: Markets Wrap

March 31, 2020 admin Comments Off on Stocks Gain With U.S. Futures; Dollar Strengthens: Markets Wrap

(Bloomberg) — European stocks advanced with U.S. futures after equities in both markets climbed for the fourth time in five sessions amid investor debate over whether there’s ground for a sustained rally given the continued spread of the coronavirus.The Stoxx Europe 600 opened higher as battered travel and leisure shares rebounded. The World Health Organization said there are signs of some stabilization in Europe’s coronavirus outbreak. Shares traded mixed in Asia, with markets rising in South Korea and Hong Kong as China reported a stronger-than-anticipated manufacturing index. They fell in Japan and Australia.The dollar climbed for a second day against …read more […]

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China factory activity unexpectedly expands, but economy cannot shake off virus shock

March 31, 2020 admin Comments Off on China factory activity unexpectedly expands, but economy cannot shake off virus shock

Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump.

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Alibaba plans to buy at least 10% stake in Chinese courier Yunda: sources

March 31, 2020 admin Comments Off on Alibaba plans to buy at least 10% stake in Chinese courier Yunda: sources

Alibaba Group Holding Ltd plans to buy at least 10% of Yunda Holding Co Ltd, marking the e-commerce giant’s fifth investment in a large courier, two people with knowledge of the matter told Reuters. Alibaba is looking to buy the stake from Yunda’s controlling shareholders – founding couple Nie Tengyun and Chen Liying – who own 52.19% of Yunda through their wholly owned firm Shanghai LuoJieSi Investment Management, said one of the people. The other person said China’s dominant e-commerce firm could go beyond 10% and buy up to 15% of Shenzhen-listed Yunda. …read more […]

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U.S. airlines must suggest possible compensation for cash grants: Treasury

March 31, 2020 admin Comments Off on U.S. airlines must suggest possible compensation for cash grants: Treasury

Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion.

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Nightmare Haunting Euro’s Founders May Now Be Reality With Italy

March 31, 2020 admin Comments Off on Nightmare Haunting Euro’s Founders May Now Be Reality With Italy

(Bloomberg) — Two decades since the euro began, one of the principal worries of its founders is materializing as the coronavirus rages through the region’s third-largest economy.The longstanding suspicion that Italy’s profligate borrowing could ultimately become the whole of Europe’s problem was the recurring nightmare of German finance officials throughout the 1990s.Now, as the crisis forces Giuseppe Conte’s government to jettison a decade of tightly capped Italian budget deficits, the country’s strategy for the future is once again built on piling up debt, sending its public borrowings swelling toward or even beyond 150% of gross domestic product.The increasing death toll …read more […]