Business News
Explainer: Why automakers are on a drive to sell electric cars in Europe
Carmakers are under pressure in Europe to sell more electric cars or face huge fines for breaching new emissions rules aimed at tackling global warming.
Month: March 2020
Business News
Algeria energy minister says OPEC+ countries to discuss ‘substantial’ oil output cuts
Algeria energy minister and OPEC president said on Tuesday OPEC+ countries will discuss new “substantial” oil production cuts at their meetings in Vienna this week, Algerian state news agency APS reported.
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Chevron shows off war chest by pledging billions in returns
Chevron will stick to the previously announced capital spending plan of $19 billion to $22 billion annually through 2024, setting it apart from chief U.S. rival Exxon Mobil, which is spending heavily to boost production. Chevron plans to distribute as much as $80 billion in cash to shareholders over the next five years, Wirth added. The top U.S. shale field will continue to drive Chevron’s oil growth, and the company expects “sustained production over 1 million barrels per day in the Permian through 2040 at relatively flat activity levels,” said Jay Johnson, executive vice president. …read more […]
Business News
Exclusive: ECB working on lending scheme for coronavirus-hit companies: sources
The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.
Business News
No need for imminent ECB action on coronavirus: ECB’s Kazimir
There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.
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Why the stock market could continue to swing wildly for months
Stock market volatility should remain high as long as the economic data lacks clarity. …read more […]
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Business News
BMW, Daimler aim to cut emissions 20% this year with new electric models
New electric models will help BMW and Daimler cut emissions from the cars they sell by an average of 20% this year, the German automakers predicted on Tuesday, as they strive to meet tough new European pollution rules.
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Stock market news live: Stock futures pare gains after G7 coronavirus statement underwhelms investors
Headlines moving the stock market in real time. …read more […]
Business News
Ryanair, IAG bosses see travel demand returning for summer
The bosses of Ryanair and British Airways-owner IAG expect the drop-off in travel demand to stabilize in the coming weeks, before bookings return for the summer, they said at a conference on Tuesday.
Business News
Chevron says it has potential to return up to $80 billion in capital over five years
Chevron Corp said on Tuesday it could return as much as $80 billion to shareholders over five years even if oil prices remained low.
Business News
Airlines face worsening coronavirus impact, European bosses warn
The worst is still to come for the airline industry in terms of economic damage from the coronavirus outbreak, European carrier bosses warned on Tuesday, but they predicted that travel demand could stabilise in the coming weeks.
Business News
Impossible Foods cuts prices of plant-based meat to distributors
Impossible Foods on Tuesday announced an average of 15% cut in vegan product prices to distributors in the United States and asked them to pass it on to restaurants as the plant-based meat maker competes against beef products.
Business News
BoE’s Carney sees ‘powerful and timely’ global response to coronavirus
Bank of England Governor Mark Carney said policymakers around the world are working on a “powerful and timely” response to the economic hit from coronavirus which has raised fears of a new global recession.