Trading Ideas

(Bloomberg) — Telefonica SA and John Malone’s Liberty Global Plc have never been closer to finally creating the U.K.’s biggest telecom operator after flirting with various combinations over the years.Racing for a potential announcement as early as this week, talks hinge in part on striking equal control for the merger of O2 and Virgin Media, while structuring a deal that’ll help the Spanish giant pay down its huge debt pile, according to people familiar with the matter, asking not to be identified because the talks are private.In a statement Monday, Telefonica confirmed that talks are ongoing “on a potential integration …read more […]

Saudi Arabia’s Sabic Suspends All But Essential Spending

May 4, 2020 admin Comments Off

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Goldman Sachs says it remains bullish on oil prices in 2021

May 4, 2020 admin Comments Off

The Wall Street bank raised its 2021 forecast for global benchmark Brent crude prices to $55.63 per barrel from $52.50 earlier. The bank hiked its estimate for U.S. West Texas Intermediate (WTI) crude to $51.38 a barrel from $48.50 previously. …read more […]

Norwegian Air's shareholders to vote on pivotal rescue plan

May 4, 2020 admin Comments Off

Norwegian Air’s shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic. The airline has won “strong support” from aircraft lessors for its plan, it said ahead of the online meeting, which is scheduled to last until 0830 GMT. With 95% of its fleet grounded amid the COVID-19 outbreak, Norwegian Air could run out of cash by mid-May unless shareholders back the plan. …read more […]

Gilead Says Remdesivir Will Be Available To Patients This Week

May 4, 2020 admin Comments Off

Gilead Sciences (GILD) has revealed that its remdesivir Covid-19 treatment will be available to patients early this week. Remdesivir, a direct acting antiviral drug that inhibits viral RNA synthesis, received emergency FDA approval on May 1.“We intend to get [remdesivir] to patients in the early part of this next week, beginning to work with the government which will determine which cities are most vulnerable and where the patients are that need this medicine,” Gilead Sciences CEO Daniel O’Day told CBS on Sunday. O’Day added: “We’ve donated the entire supply that we have within our supply chain and we did that …read more […]

The Consensus EPS Estimates For BP p.l.c. (LON:BP.) Just Fell A Lot

May 4, 2020 admin Comments Off

One thing we could say about the analysts on BP p.l.c. (LON:BP.) – they aren’t optimistic, having just made a major… …read more […]

Markets drop in Asia on rising China-US tensions over virus

May 4, 2020 admin Comments Off

Shares skidded in Asia on Monday as investors eyed rising tensions between the Trump administration and China over the origins and handling of the coronavirus pandemic. Facing criticism over his handling of the crisis, President Donald Trump has tried to shift the blame to China. Beijing has repeatedly pushed back on U.S. accusations that the outbreak was China’s fault. …read more […]

Oil Drops With Optimism Over Demand Waning in Face of Huge Glut

May 4, 2020 admin Comments Off

(Bloomberg) — Oil snapped a three-day gain as optimism over a nascent recovery in demand was replaced by worries about the supply glut, while the continued exodus of exchange-traded funds also weighed on sentiment.Futures in New York fell 3% to around $19 a barrel after their first weekly gain in a month that was driven by early signs of improving consumption and the start of production curbs. That positive tone was undercut, however, by a Bloomberg survey showing OPEC production surged by the most in almost 30 years in April as countries kept pumping even after reaching a price-war truce.Fears …read more […]