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Oil prices rise on early signs of pick up in fuel demand West Texas Intermediate (WTI) crude futures climbed to $17.11 a barrel, up 13.6% or $2.05 at 0840 GMT. The U.S. benchmark surged 22% on Wednesday. Brent was up 7.6%, or $1.71 at $24.25 a barrel in light trading, with the June contract expiring on ...
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Euro flat ahead of ECB meeting; dollar recovers slightly as caution returns The euro was broadly flat, at $1.088, having touched a ten-day high. Against a basket of currencies, the dollar touched a two-week low before recovering somewhat, last up 0.1% on the day. The riskier Australian and New Zealand dollars, which rose overnight ...
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Oil Giant Shell Has Cut Its Dividend For The First Time Since World War Two--Here's Why Oil giant Royal Dutch Shell has slashed its dividend payment to shareholders by 66%—the first time its cut its dividend since 1945—as coronavirus triggered a dramatic plunge in demand for oil and caused prices to collapse. BRITAIN-EARNINGS-ENERGY- ...
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European Economy Suffers Record Drop Amid Pandemic FRANKFURT, Germany — The European economy shrank by a record 3.8% in the first quarter as business activity from hotels and restaurants to construction and manufacturing was frozen by shutdowns aimed at preventing the spread of the coronavirus.
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Malaysia Airlines Says Working With Khazanah for Financial Support, Taken Cost Cuts KUALA LUMPUR — Malaysia Airlines (MAB) is working closely with sole shareholder Khazanah Nasional for financial support while also taking steps to defend its cash position to sustain business during the coronavirus crisis, it said on Thursday. It did not ...
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Global Smartphone Output to Plunge by Record 16.5% in June Quarter: TrendForce (Reuters) - Global smartphone production is expected to slump a record 16.5% to 287 million phones in the June quarter from a year earlier as the coronavirus pandemic muzzles demand, TrendForce said ...
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SoftBank to write down WeWork by $6.6 billion, compounding portfolio misery SoftBank said it sees a loss of around $6.6 billion for the year ended March on the portion of its WeWork investment held outside the Vision Fund. The hit extends the group's expected net loss to 900 billion yen as investments made via the $100 billion fund ...
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Nokia makes small profit in face of supply disruption (Reuters) - Nokia Oyj (NOKIA.HE) eked out a small profit in the first quarter, backed by demand for its new high-margin 5G telecoms equipment, and predicted a strong second half of the year, sending its shares higher. FILE PHOTO: The logo of Nokia is seen ...
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European markets whipsaw as investors react to economic data and coronavirus treatment hopes Investors in Europe will be reacting to news from the U.S. Wednesday regarding the use of Gilead Sciences' antiviral drug remdesivir as a potential new treatment for Covid-19 patients. Also in focus is the latest monetary policy decision from the European ...
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Will The Low Oil Price Dent The Prospects For Renewables? The low oil price brings obvious problems for the oil majors, the shale industry and various others, but could it also create difficulties for the renewables sector? Previous oil slumps have seen governments move away from support for renewables and ...
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Treasury yields fall ahead of jobless claims as Fed vows to keep rates near zero Unemployment claims totals for the week ending April 25 are due for release at 8:30 a.m. ET, with a consensus 3.5 million new filings expected, according to Dow Jones. Following this week's Federal Open Market Committee (FOMC) meeting, the Fed on ...
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PG&E ordered by judge to overhaul safety practices A federal judge is ordering PG&E Corp. to overhaul its tree-trimming and power line inspection practices after the company pleaded guilty to state manslaughter charges for sparking the deadliest wildfire in California history. U.S. District Judge William Alsup, ...
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Reckitt Benckiser posts record sales on disinfectant boom (Reuters) - Reckitt Benckiser Plc (RB.L) on Thursday forecast better than previously anticipated results for 2020 after reporting record quarterly sales growth as customers stocked up on its Lysol disinfectants, Mucinex cough syrup and Dettol soap in ...
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Bitcoin Roars Past $9000 as Frantic FOMO on Binance & Coinbase Continues The past 24 hours have been explosive for the Bitcoin market. Ever since breaking past $7,800 on Wednesday morning, the cryptocurrency has been in a nearly unstoppable uptrend, rallying past resistance after resistance in the $7,000s, $8,000s, then most ...
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BioNTech's Potential COVID-19 Vaccine Is Already Priced In, Says JPMorgan Some biotech stocks have been on fire during these COVID-19 driven times. Hardly a surprise, as these companies are at the forefront of finding a solution to the pandemic and bringing viable treatments, vaccines or adequate tests to market. Case in point: ...
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Coronavirus: Boeing to cut 15000 jobs in 'body blow' Boeing plans to cut 10% of its workforce, saying the Covid-19 pandemic had delivered it a "body blow". The struggling US plane maker employs 150,000 people worldwide and was already under pressure after being forced to ground its 737 Max planes ...
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Moody's sees Italy economy contracting 9.3% this year - paper MILAN, April 30 (Reuters) - Moody's expects Italy's economy to contract by 9.3% this year due to the impact of the new coronavirus and grow 6.1% in 2021, the ratings agency's chief economist, Mark Zandi, told La Stampa newspaper in an interview published ...
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Coronavirus Mortgage Relief: What you Need to Know Mortgage lenders, and the federal agencies that regulate lenders, have put coronavirus mortgage relief measures in place to ensure homeowners have options if they are unable to make their mortgage payments. Your first stop in the face of financial hardship ...
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Zoom admits it does not have 300 mln daily users - the Verge April 30 (Reuters) - Zoom video conferencing app does not have 300 million daily active users, the company admitted on Thursday to the Verge, saying it "unintentionally" referred to daily meeting participants as users in a blog post. The Zoom blog from April ...
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United Rentals Comes in Flat in First Quarter Despite COVID-19 Impact in Mid-March United Rentals posted first quarter 2020 revenue of $2.125 billion compared to $2.117 billion in the first quarter of 2019, up 0.4 percent year over year despite the shelter-in-place orders that took place in the last couple of weeks of the quarter. Michael Roth.
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UK watchdog warns events firms over failure to pay refunds in pandemic LONDON (Reuters) - Britain's competition regulator said it has opened investigations into thousands of complaints about companies refusing to pay refunds for cancelled weddings and other events during the coronavirus pandemic. Britain has been in ...
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Here's what you need to know about New York State unemployment insurance NEW YORK — New York State Department of Labor Commissioner Roberta Reardon said the state is experiencing an unprecedented increase in unemployment claims during a briefing with reporters on Wednesday. Reardon said in just six weeks the state ...
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Las Vegas casinos may be 'blueprint' for Atlantic City Las Vegas casinos may give some clues on what customers and employees can expect in Atlantic City once plans are formulated to reopen the resort's casinos. Wynn Resorts Ltd. CEO Matt Maddox plans to limit the number of entrances and install thermal ...
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Is Your Retirement Plan Down Because of COVID-19? Here's How to Keep Calm. It's no secret that COVID-19 has been battering the U.S. economy since cases started spreading rapidly in March. Not only have millions of Americans lost their jobs, but the stock market has taken such a beating that it's driven retirement plan balances down.
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SMMT: UK car production falls 38 per cent, 10 times worse than Brexit drops The coronavirus crisis hammered British car manufacturing in March, with the total number of vehicles produced falling 37.6 per cent compared to a year ago. Just 78,767 vehicles left factory gates last month, according to the Society of Motor Manufacturers ...
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Canopy Growth Cuts 200 Jobs in Canada, US and UK Canopy Growth Corp. is cutting 200 jobs in Canada, the U.S. and the U.K. as part of an internal restructuring of several departments, the company said in an email. Chief Executive Officer David Klein said in February that job cuts were one of many options he ...
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EBay shares fall after earnings beat EBay Inc. EBAY, -0.12% shares ticked down 1% in the extended session Wednesday after the company beat Wall Street earnings expectations. The company reported first-quarter net income from continuing operations of $485 million, or 64 cents a share, ...
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Hologic to launch new COVID-19 diagnostic across US Hologic · hologic-logo (NSDQ:HOLX) announced late this afternoon that it will launch a second high-throughput molecular diagnostic test for the coronavirus (SARS-CoV-2). Investors reacted by sending shares in HOLX up 8.27% in after-hours trading.
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Data protection offices need proper resources now more than ever Key legal requirement of GDPR is that states supply resources needed to enforce this important piece of legislation. about 5 hours ago. Karlin Lillington. 0. Only six national data protection authorities have more than 10 specialist tech investigation staff, and ...
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Toyota pushes back date for workers to return GEORGETOWN, Ky. (WKYT) – Toyota Motor Manufacturing, Kentucky, Inc. (TMMK) has pushed back the date they will return to production by a week. Toyota had previously "confirmed" they would return to production on Monday, May 4. That date has now ...
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Banks to explain six-month loan moratorium to hire purchase customers PETALING JAYA: The Association of Banks in Malaysia (AMB) and its member banks will be notifying their respective hire purchase customers on the procedures for the six-month loan moratorium announced by Bank Negara Malaysia Thursday (April 30).
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Q1 revenues climb 25% for BioMarin BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced Wednesday a 25% increase in revenue for the first quarter ending March 31, 2020. Revenue reached $502.1 million for Q1, compared to $400.7 million from the same period in 2019. Its stock closed ...
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Implats cuts refined PGM forecast 15% as Muller warns of regular "unplanned interruptions" IMPALA Platinum (Impala) said refined platinum group metal (PGM) production for its 2020 financial year could be up to 15% lower as a result of COVID-19 related interruptions. Refined PGM (6E) production is forecast to come in at between 2.6 to 2.9 million ...
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What Travel Could Look Like After Coronavirus Many aspects of life will likely never return to normal after COVID-19, but here's how flying will be changed forever because of the coronavirus pandemic. XXL jet airplane landing sharply_done/Getty Images ...
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Beyond COVID-19: Employer communications guidance for what's next While it's hard to envision the end of the COVID-19 disruption, there are some things smart employers can be doing now to prepare for the reopening of offices, businesses and, indeed, our entire economy. Business owners, managers and HR professionals ...
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