Business – Page 35 – PressClub World

27. 4. 2020 No Responses

Break-even Oil Prices for 2020, Driller Diamond Offshore Filed for Bankruptcy

A sharp drop in oil prices adds to rating pressures for oil-exporting Middle East and Africa (MEA) sovereigns with vulnerable public and external finances, says Fitch Ratings. A slump in tourism, weakening demand for non-oil exports, and financial volatility associated...

26. 4. 2020 No Responses

Saudi Arabia is maneuvering to survive the oil price crisis

Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan. Al-Jadaan told media this week that the Kingdom might...

24. 4. 2020 No Responses

Lysol Maker Begs Public Not To Inject Its Cleaning Products After Dangerous Trump Advice

During last night’s press briefing, President Trump made some dangerous remarks about a new treatment involving ‘sunlight’ and ‘bleaching’ of the lungs to combat the virus. It appeared that during Thursday night’s presser, T...

23. 4. 2020 No Responses

Daimler Sees 70% Drop in 1Q Earnings, Renault and Hyundai Follow

Daimler AG (owner of Mercedes-Benz) sees first-quarter earnings plunge almost 70% as the coronavirus-related lockdowns have left its auto showrooms closed. The German luxury automaker announced that it expected preliminary adjusted first-quarter earnings befo...

21. 4. 2020 No Responses

GS Now Sees A 123% Plunge In Q2 S&P Earnings, $850 Billion Drop In Corporate Spending

With 9% of S&P 500 firms having already reported Q1 earnings including all of the major banks, results have generally disappointed relative to already tepid expectations. 43% of companies have missed consensus expectations, on pace for the highest rate sin...

20. 4. 2020 No Responses

Historic Oil Crash Sends Canadian Oil Prices Negative, WTI To $11.05

When GS’s crude oil analysts turned apocalyptic last month, writing that “This Is The Largest Economic Shock Of Our Lifetimes”, they echoed something we said previously namely that the record surge in excess oil output amounting to a mindblow...

19. 4. 2020 No Responses

Oil Glut – At Least 160 Million Barrels Are Held in Tankers

At Least 160 Million Barrels Are Held in Tankers Amid Lack of Onshore Storage. The pandemic and related self-isolation measures have triggered a massive fall in global demand for oil. Traders are now struggling to find storage space for excess...

15. 4. 2020 No Responses

SoftBank Reports Stunning $25 Billion Q1 Loss

In an announcement that should surprise absolutely nobody who has been paying attention to WeWork fiasco, SoftBank announced in a corporate filing on Monday that the Japanese telecom conglomerate with a VC arm expected to report the biggest loss in...

11. 4. 2020 No Responses

FED To Start Buying Junk Bonds

As free markets are actually dead, back on March 23, when the Fed unveiled it would start buying investment grade corporate bonds, many analysts said “now that the Fed is effectively all in, it will buy stocks and junk bonds next.” Two weeks...

9. 4. 2020 No Responses

Schedule of the delayed OPEC+ webinar

The delayed OPEC+ webinar on Thursday will arguably be the most important gathering of ministers to date, with countries outside OPEC+ also poised to potentially tune into the discussions, thus presenting scope for coordinated action. The meeting is due to...

6. 4. 2020 No Responses

Emerging Markets After $18 Trillion Global Equity Wipeout

Emerging market stocks trade at record 65% discount to U.S. after $18 trillion global equity wipeout. The global financial rout triggered by the pandemic wiped $18 trillion off global equity markets in the year to date, and emerging markets, in...

4. 4. 2020 No Responses

Talmudist Hacker Who Took Down Telecoms, Banks And The Whole Country

Daniel Kaye, 29, a dual British and Israeli citizen, used 1.5 million security IP cameras to attack Lloyds Banking Group, Barclays Bank and Deutsche Telecom, and attempting to blackmail them. This Talmudist sociopath later took down the whole country – ...

2. 4. 2020 No Responses

Oil rallies 24 to 36% within minutes after Trump says he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut

Saudis and Russia deny every Trump’s word. Brent oil shoot up 36% (temporary) and West Texas up 24% This was the most expected market event amongst commodities traders. The President later said in a tweet that a production cut would be...

1. 4. 2020 No Responses

Ford Is Delaying North American Production Indefinitely

There are basically no U.S. auto sales right now. With what are sure to be ugly March sales numbers looming, Ford has now decided it is cancelling plans to re-start production in the U.S. and Mexico over the next two...

31. 3. 2020 No Responses

Some political action is expected on the US oil market

Insider circles report that president Trump’s administration is considering many different ideas to save the US oil industry. One option is an import embargo. Another interesting option is fee on imported oil, which is the cheapest way to save the sect...

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