The Black Lives Matter movement has sparked some monumental changes, with cities making moves to defund police forces. Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Andy Serwer discuss. …read more […]
Shares in PG&E Corp. (PCG) sank as much as 13% in pre-market trading after the debt-strapped U.S. utility announced that a group of investors agreed to commit to a $3.25 billion equity investment at a discounted share price.The U.S. utility disclosed that a number of investors, including Appaloosa, Third Point LLC, Fidelity Management & Research Co. LLC and Zimmer Partners, have committed to buy shares at a price of up to $10.50 in an offering to generate $3.25 billion. The stock plunged as much as 13% in pre-market trading to $10.95 after closing at $12.52 on Friday.The equity investment agreement …read more […]
(Bloomberg) — Libya took another step toward reviving its moribund oil industry by restarting production at a second important field after a five-month halt.Pumping began on Sunday at the El-Feel deposit, which had suspended operations due to the North African country’s civil war. El-Feel is resuming just a day after oil started flowing again from Libya’s largest deposit, Sharara.Any fresh barrels from these fields could complicate efforts by the OPEC+ producer alliance to limit global supply and push crude prices higher. The group agreed on Saturday to extend historic production cuts of 9.6 million barrels a day through July. Libya, …read more […]
The oil giant plans to slash around 15% of its workforce in response coronavirus crisis. …read more […]
(Bloomberg) — A merger of drugmakers AstraZeneca Plc and Gilead Sciences Inc. is unlikely, according to analysts, after Bloomberg News reported that the U.K. company made a preliminary approach to its U.S. peer last month.Political opposition from both Britain and America could derail any attempt at a deal, especially given the backdrop of the Covid-19 outbreak, Citi said. The timing is also questionable, as while Gilead is in the middle of a turnaround, AstraZeneca is well positioned and has a strong pipeline, analysts said.Yet there is potential for synergies, and Gilead could compliment AstraZeneca’s portfolio in the areas of virology …read more […]
New figures show that Tesla Inc (TSLA) sold 11,095 Shanghai-made Model 3 vehicles in China in May, reports Reuters.This is more than triple the volume seen in April, according to the China Passenger Car Association (CPCA).The CPCA previously revealed that the electric-vehicle maker sold 3,635 vehicles in April- a dramatic 64% drop from the 10,160 units sold in March.Notably, CPCA uses a different counting method than Tesla’s deliveries.Shares in Tesla have now more than doubled on a year-to-date basis, and are currently trading up 2% in Monday’s pre-market trading.With shares at such high levels, analysts are taking a cautious stance …read more […]
(Bloomberg) — Accounting firm Ernst & Young was sued over its work for Wirecard AG, just two days after Wirecard’s headquarters were raided as part of a market manipulation probe.The German lawsuit alleges that EY failed to flag that 1 billion euros ($1.1 billion) in assets were improperly booked on the payment processor’s 2018 accounts, Wolfgang Schirp, a lawyer for private investors, said in a statement on Monday.The suit adds to a list of criticism over EY’s work, which peaked Friday with a London judge slamming the firm for its treatment of a whistle-blower during a trial that ended earlier …read more […]
(Bloomberg) — Morgan Stanley strategists added a bet on a steeper Treasury yield curve, seeing the potential for a “regime shift” in the wake of a rapidly improving U.S. economy.“In the blink of an eye, that seems about how quickly the economic narrative has tilted in favor of a V-shaped recovery versus a slow and prolonged one,” Guneet Dhingra, head of U.S. interest-rates strategy in New York, wrote in a June 5 note. History suggests that, after a period when 30-year yields led longer-dated rates higher, it’s time for 10-year rates to become the key driver, he wrote.The bank added …read more […]
As New York city reopens Monday, California and some other states see coronavirus cases rise; a new poll reveals partisan divides over the pandemic; Brazil, a global hotspot for the virus, stops reporting coronavirus numbers. WSJ’s Shelby Holliday has the latest. Photo: Richard Vogel/AP …read more […]
The largest protests following the killing of George Floyd remained mostly peaceful this weekend; Minneapolis city council members agreed to begin the disbanding of the police department; in Seattle, a man drove a car into a crowd and shot a protester. Photo: Lindsey Wasson/Reuters …read more […]
It was a dark, moonless night… the final few hours of a chilly Veteran’s Day.
The warden was parked on the side of the dusty dirt road. His window was rolled down, and the radio was off. The 31-year-old officer inside sat quietly, listening.
Around 11:30, he heard what he was waiting for.
A single gunshot. A drunken poacher had just put his pistol out of the window of his truck and shot a deer.
The warden did his job.
He fired up his rig and found the shooter.
Under the strobing red and blue lights, he could see two men in the truck. He radioed …read more […]
Louisiana governor declared a state of emergency as Tropical Storm Cristobal came ashore Sunday. The storm is hampering some coronavirus efforts in the state while reducing oil production by about one-third in the Gulf of Mexico. Photo: Gerald Herbert/Associated Press …read more […]
Top news and what to watch in the markets on Monday, June 8, 2020. …read more […]
Facebook and Twitter have taken different stances on moderating President Trump on their platforms. It’s the latest controversy in an ongoing debate about the responsibility tech companies have in policing speech online. Photo illustration: Carter McCall/WSJ …read more […]
(Bloomberg) — Saudi Arabia’s steep hikes to its crude prices for July have shocked some Asian refiners even as the region leads a rebound in global energy consumption following coronavirus lockdowns.Aramco’s price boost for its flagship Arab Light crude to Asia — which accounts for more than half of Saudi oil sales — was the biggest in at least 20 years, exceeding the most bullish expectations in a Bloomberg survey. However, two refiners are still seeking to buy their regular volumes because of the lack of alternative options, while another processor is weighing whether to replace some cargoes from the …read more […]
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