Month: May 2020

Norwegian Air’s shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic. The airline has won “strong support” from aircraft lessors for its plan, it said ahead of the online meeting, which is scheduled to last until 0830 GMT. With 95% of its fleet grounded amid the COVID-19 outbreak, Norwegian Air could run out of cash by mid-May unless shareholders back the plan. …read more […]

Gilead Sciences (GILD) has revealed that its remdesivir Covid-19 treatment will be available to patients early this week. Remdesivir, a direct acting antiviral drug that inhibits viral RNA synthesis, received emergency FDA approval on May 1.“We intend to get [remdesivir] to patients in the early part of this next week, beginning to work with the government which will determine which cities are most vulnerable and where the patients are that need this medicine,” Gilead Sciences CEO Daniel O’Day told CBS on Sunday. O’Day added: “We’ve donated the entire supply that we have within our supply chain and we did that …read more […]

One thing we could say about the analysts on BP p.l.c. (LON:BP.) – they aren’t optimistic, having just made a major… …read more […]

Shares skidded in Asia on Monday as investors eyed rising tensions between the Trump administration and China over the origins and handling of the coronavirus pandemic. Facing criticism over his handling of the crisis, President Donald Trump has tried to shift the blame to China. Beijing has repeatedly pushed back on U.S. accusations that the outbreak was China’s fault. …read more […]

(Bloomberg) — Oil snapped a three-day gain as optimism over a nascent recovery in demand was replaced by worries about the supply glut, while the continued exodus of exchange-traded funds also weighed on sentiment.Futures in New York fell 3% to around $19 a barrel after their first weekly gain in a month that was driven by early signs of improving consumption and the start of production curbs. That positive tone was undercut, however, by a Bloomberg survey showing OPEC production surged by the most in almost 30 years in April as countries kept pumping even after reaching a price-war truce.Fears …read more […]