After a wave of mergers, the airline industry's consolidation appears to have slowed the trend of rising capacity and damaging fare wars. Even once-skeptical investors like Berkshire Hathaway's (BRKB) Warren Buffett see the advantages that U.S. carriers now enjoy and have taken large positions in Delta Air Lines (DAL), American Airlines (AAL) and United Airlines (UAL). Still, the impacts of...
Oil prices fell sharply on Friday amid declining European banking shares and after U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve (SPR) may take several years, dampening demand prospects. Banking stocks slid in Europe with Deutsche Bank and UBS Group hit hard by worries that the worst problems in the sector since the 2008 financial crisis have not yet been contained. "The lack of crude buying for the SPR represents a major blow to the oil demand outlook," PVM Oil analyst Stephen Brennock said.
Ford Motor Co has been around since 1903, and it's a household name when it comes to Americans who are thinking about cars and trucks. I am not sure Henry Ford would recognize the company today. Let's check out the charts and indicators.
(Bloomberg) -- Jean Paul Prates, the head of Brazil’s state-controlled oil company, isn’t deterred by the world’s energy transition. He says Latin America’s largest producer should keep increasing fossil fuel output for decades to come.Most Read from BloombergDeutsche Bank Slumps in Resurgence of European Bank WorriesUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortJack Dorsey’s Block Vows to Fight Back After Hindenburg Sa
(Bloomberg) -- A change is on the horizon for oil demand, with India set to eclipse China as the most important driver of global growth — and potentially the last, as the world shifts to a greener future.Most Read from BloombergDeutsche Bank Slumps in Resurgence of European Bank WorriesUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockA swellin
Stablecoin trading volumes have increased following the run of bank collapses in the U.S., the report said.
(Bloomberg) -- Chile’s government plans to require all new lithium projects to tap a production technique that’s barely used commercially anywhere in a bid to reduce water losses.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsBomb Threat Called In to New York Court Where Trump Hearing HeldA New Chapter of Capitalism Emerges From the Banking CrisisAckman Warns of Accelerated Deposit Outflows After Fed DecisionStocks Roiled by Fed Day’s Nerve-Wracking Rhetoric: Ma
With the expectations that crude price will remain solid, demand for oilfield services will stay strong, making the outlook for the Zacks Oil & Gas- Field Services industry bright. SLB, HAL, RES and PUMP are expected to benefit the most from this.
Japan's manufacturing activity contracted for a fifth straight month in March as output and new orders remained under pressure, a survey showed on Friday, suggesting the economic recovery is fragile as global demand slows. However, service-sector activity expanded for a seventh straight month and rose at the fastest pace in over nine years as the squeeze from the coronavirus pandemic eased. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) stood at a seasonally adjusted 48.6 in March, from a final 47.7 in the previous month.
HERSHEY, Pennsylvania (Reuters) -Hershey Co is looking to reduce "trace" amounts of lead and cadmium in its chocolate, chief financial officer Steve Voskiul told Reuters on Wednesday, after Consumer Reports found that some dark chocolate bars had potentially harmful levels of the heavy metals. Consumer Reports, a nonprofit consumer group, tested chocolate bars including those made by Hershey late last year and found that some of them contained possibly harmful levels of lead, cadmium or both for people who eat more than one ounce per day.
SHANGHAI (Reuters) -Chinese battery giant CATL plans to start this year the mass production and delivery of batteries based on a new materials technology, M3P, which will perform better and cost less than nickel and cobalt-based ones, its chairman said. M3P batteries will have greater energy density and perform better than lithium-ion phosphate batteries, a market CATL dominates. CATL disclosed in August last year that it was working on M3P technology, which can enable an electric vehicle to run 700 km (430 miles) per charge when combined with CATL's next generation of battery-pack technology.
A first-in-the-nation bill to punish oil companies for profiting from price spikes at the pump breezed through the California Senate on Thursday at the urging of Democratic Gov. Gavin Newsom, the first major vote in an effort to pass the law by month's end. The proposal is in response to sales last summer, when the average price of a gallon of gasoline in California soared to a record high $6.44. Newsom, a Democrat seen as a possible presidential candidate beyond 2024, reacted by attacking the oil industry, specifically the five companies that provide 97% of gasoline in the state.
Since the Paris Agreement in 2016, the biggest banks that fund the fossil fuel industry seem to have minimally decreased their support, and in some cases are actually increasing their funding.
As a series of U.S. lenders were besieged by customers yanking out their money this month, banking behemoths including JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp. warned employees: Do not make it worse. JPMorgan, the nation's largest bank, told all employees they "should never give the appearance of exploiting a situation of stress or uncertainty," in a March 13 memo, extracts of which were seen by Reuters. On the same day, the leaders of its consumer and business banking unit told branch employees: "We should refrain from soliciting client business from an institution in stress," according to extracts seen by Reuters.
China's lithium prices are plunging faster than expected this year, down 34% in the last four weeks alone, hit by a slump in demand for electric vehicles in the world's biggest market that has left stocks of the metal piling up. Spot lithium carbonate prices assessed by Fastmarkets fell to 260,000 yuan ($38,079.06) per tonne this week, less than half the price quoted last November. "The scope of such a price fall has exceeded our expectations," consultancy Rystad Energy said in a March 17 note.
BENGALURU (Reuters) -Oil prices settled 1% lower on Thursday, reversing early gains after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) may take several years. Granholm's comments fed worries about potential oversupply, especially as the Energy Department plans to proceed with an additional release of 26 million barrel as part of its congressional mandate, UBS analyst Giovanni Staunovo said. Brent crude futures fell by 78 cents, or 1%, to settle at $75.91 a barrel.
Bunge, CalMaine Foods and Arcadia Biosciences are part of the Zacks Industry Outlook article.
Global banking regulators will step up scrutiny of how risks from systemically important shadow banks could destabilise lenders, a top banking regulator said on Friday as central bankers home in on the huge funds industry. Non-bank financial intermediaries (NBFI) - known as shadow banks - also include insurers and now make up nearly half the world's financial assets, raising concerns among central banks about threats to overall financial stability.
Airbnb stock has intrigued investors in top growth stocks since its Nasdaq debut in December 2020. From its initial public offering price of $68 per share, ABNB soared 223%. ABNB shares in February cruised to nine-month highs.
U.S. motorists face a repeat of last summer's high gasoline prices, analysts warned on Wednesday, with fuel stockpiles heading towards multi-year lows ahead of the peak summer driving season that begins in two months. Retail gasoline prices, now averaging $3.44 a gallon nationwide, hit a record $5.02 a gallon last June as crude oil prices jumped on Russia's invasion of Ukraine and the waning of COVID-19 travel curbs unleashed pent up travel demand. Vehicle travel in the U.S. started the year 5.6% higher than last year, leading to a drop in gasoline stockpiles for five straight weeks.
SHANGHAI (Reuters) -Chinese smartphone maker Xiaomi Corp on Friday reported a record drop in fourth-quarter revenue as the company weathered a slowdown in consumption and disruptions due to China's COVID-19 curbs. Early signs suggest China's economy will only rebound slowly, as consumers remain cautious about spending money despite an easing of restrictions on domestic and international travel. Xiaomi group president Lu Weibing, speaking on a company earnings call, said China's consumer electronics was seeing early signs of a recovery at present but "it will take time."
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