The union that represents thousands of Boeing Co employees said late on Monday that a four-year contract extension offer was ratified by engineers but rejected by technical workers.
Shares in Infineon Technologies rallied in early trading on Tuesday after a U.S. national security review raised no concerns over its proposed $10 billion takeover of Cypress Semiconductor Corp .
Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the coronavirus.
(Bloomberg Opinion) — The collapse in crude prices has brought into relief the correlation between oil majors’ financial leverage and the valuation of their shares. It’s a relationship that looks like particularly bad news for the bigger European firms.Investors’ knee-jerk reaction to the downward lurch in the oil price was, naturally, more severe toward the companies that were more indebted. So shares in BP Plc, Royal Dutch Shell Plc, Equinor ASA and Eni SpA suffered more than Total SA and the two big U.S. majors, Exxon Mobil Corp. and Chevron Corp., when European markets closed on Monday.Investors’ worries about leverage …read more […]
Norwegian Air has temporarily halted flights to and from Italy because of the coronavirus outbreak, the budget carrier said on Tuesday, adding to the company’s financial woes.
Asian stocks bounced, and bond yields rose from record lows on Tuesday on hopes that global policymakers would introduce co-ordinated stimulus to cushion the economic impact of a coronavirus outbreak.
IKEA on Tuesday started selling its products on Alibaba’s Chinese e-commerce platform Tmall, the first time the world’s biggest furniture retailer has sold through a third party in its 77-year history.
Oil prices bounced 8% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China.
Some investors are betting that markets will stay turbulent in the coming weeks, after an avalanche of selling in U.S. stocks sent volatility to levels not seen since the financial crisis. The Cboe Volatility Index, known as “Wall Street’s fear gauge,” climbed by more than 20 points above its Friday closing level to peak at 62.12, its highest level since December 2008. The VIX ended Monday’s session at 54.46. …read more […]
(Bloomberg) — Goldman Sachs Group Inc. asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value.The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy Renaissance Fund, its asset management arm said in separate statements. The funds had combined assets of about $590 million at the end of January, mainly in master limited partnerships that operate U.S. oil and gas pipelines and terminals, according to …read more […]
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world’s biggest auto market.
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world’s biggest auto market. The U.S. automaker, which started delivering Model 3 electric sedans from its Shanghai factory in December, plans to add lines to make more battery packs, electric motors, and motor controllers, according to the document submitted by Tesla to Shanghai government. Tesla, which as of end-December used about 70% imported parts for the cars it made in …read more […]
(Bloomberg) — President Donald Trump promised “very dramatic” actions to support the U.S. economy as the World Health Organization said the threat of a pandemic is “very real.”Infections climbed across Europe, prompting a nationwide lockdown across Italy, but signs of improvement emerged in Asia. China announced only 19 new cases, the lowest since Jan. 18 according to official figures, while South Korea also saw a slowing trend. In a sign China sees the virus under control, President Xi Jinping visited the city of Wuhan for the first time since the disease emerged.Trump said he will seek a payroll tax cut …read more […]
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