Third-quarter losses from the namesake VW brand are a reminder that the highly political German company will be harder to reshape for a new technological era than its U.S. peers.
Oil stocks plunged this morning, and there was a lot more to the rout in the oil and gas sector than just Friday's stock market sell-off. Although most of these stocks regained some ground as the day progressed, each still closed the shortened trading day in the red.
Oil prices have fallen by as much as 12% today as a new COVID-19 variant steals headlines, wreaking havoc on financial markets
Travel and financial stocks, along with oil and cryptocurrency plays, fell hard Friday on concerns over a new Covid variant.
A plunge in crude-oil futures sparked by the discovery of a new COVID variant raises the probability OPEC+ will pause production increases next week.
Air Canada is among many airlines around the world that posted declines on Friday.
Investors pushed the sell button on crude Friday, on concerns a new strain of COVID will cut into demand for the commodity.
Releasing 50 million barrels from the US's Strategic Petroleum Reserve in a world where daily demand is 100 million doesn't do much.
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The logjam at the ports and larger supply chain disruptions have led to record-setting profits for big companies in the logistics business.
Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter. The World Health Organization has designated the new variant, which it named Omicron, as "of concern," according to the South African health minister.
Renewed Covid fears have managed to do what Biden couldn't, sending oil prices crashing as a new wave of demand destruction looms.
Hong Kong and Chinese authorities said a meeting on Thursday moved them closer to partially reopening the border between them, as the two governments dig their heels in as among the last in the world pursuing a zero-COVID-19 strategy. The global financial hub has followed Beijing's lead to implement some of the strictest travel restrictions in the world, hoping that would convince China, its main source of economic growth, to allow some cross-border movement. "Good progress was made in the meeting on exploring the resumption of quarantine-free travel between the mainland and Hong Kong in a gradual and orderly manner," the former British colony's government said in a statement.
South Africa’s warning of a new strain of coronavirus walloped the energy sector, leading to the sharpest declines in oil prices since the global economy locked down early last year to slow the spread of the virus.
Taiwan is looking at cooperating with three Eastern European countries on semiconductors, a minister said on Thursday, a move likely to find favour in Brussels which has been courting Taiwanese semiconductor firms to manufacture in the bloc. Tech powerhouse Taiwan, home to companies such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC), has become front and centre of efforts to resolve a shortage of chips that has shut some auto production lines around the world and whose impact is now being felt in consumer electronics too. While TSMC is building a $12 billion chip fabrication plant in the U.S. state of Arizona, it has given no suggestion of interest in a similar facility in Europe, despite EU efforts https://www.reuters.com/technology/eu-appeals-shared-values-tempt-taiwans-chip-firms-2021-10-14 to spur such investment.
The S&P 500's big 2.3% drop on Friday revealed the stocks and sectors most vulnerable to — and poised to win from — any Covid resurgence.
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The Biden administration on Friday recommended an overhaul of the nation's oil and gas leasing program to focus on areas that are most suitable for energy development and raise costs for energy companies to drill on public lands and water.
About two dozen energy suppliers, including Bulb, have failed in less than three months.
Oil prices remained stuck around the $80-a barrel mark Thursday as a decision by the U.S. administration to release up to 50 million barrels of strategic reserves in a bid to push down gas prices faltered. Brent crude oil, the international benchmark, was broadly stable Thursday at $81 a barrel. West Texas Intermediate was down 0.2% to $78.2 a barrel.
After crushing its third-quarter earnings report where it beat revenue estimations and missed earnings estimates by just $0.01 per share, dLocal Limited's (NASDAQ: DLO) stock price took a 20% haircut. It was a company worth further investment consideration before its Q3 earnings, and I like the stock even more at a 20% discount. With over 600 different payment methods across the world, dLocal is a place where enterprises can go to manage their online global payment infrastructure.