The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.
(Bloomberg) — Bayer AG is blocked from selling its controversial dicamba-based herbicide in the U.S. after an appeals court rejected a federal regulator’s permit for the product, compounding the German company’s weed-killer woes.The three-judge panel concluded the Environmental Protection Agency had “failed entirely” to acknowledge some risks dicamba poses and that the agency violated federal regulations when it extended its approval of registration for the herbicide for another two years in October 2018.The ruling means farmers who bought seeds to be used with dicamba for this year’s growing season may not be able to plant them, since pesticides can’t be …read more […]
Carnival Corp’s Princess Cruises on Thursday extended the suspension of some of its voyages in Australia, Canada and Taiwan as ports around the world remain shut due to the coronavirus crisis.
Hong Kong shares of HSBC and Standard Chartered rose on Thursday after the banks backed China’s national security law for the city, allaying worries about their businesses getting hurt by any potential political crossfire in their largest market.
LVMH is not considering buying shares in Tiffany on the market, the French luxury goods group said on Thursday.
German sportswear firm Adidas said on Thursday that sales had returned to growth in greater China faster than it had expected after the coronavirus lockdown, while the reopening of business in Europe and the Americas was going more gradually.
The luxury giant said “that it is not considering buying Tiffany shares on the market,” despite a recent drop in their value. …read more […]
China said it will ease coronavirus restrictions to allow more foreign carriers to fly to the mainland, shortly after Washington vowed to bar Chinese airlines from flying to the United States due to Beijing’s curbs on American airlines.
Amazon.com Inc. (AMZN) said it is leasing an additional 12 Boeing (BA) 767-300 converted cargo aircraft as the e-commerce giant seeks to make delivery times faster amid an increase in online orders.One of the new aircraft joined Amazon’s air cargo operations in May, and the remaining 11 are expected to be delivered in 2021. These aircraft will be added to Amazon’s existing fleet of 70 aircraft.“Amazon Air is critical to ensuring fast delivery for our customers – both in the current environment we are facing, and beyond,” said Sarah Rhoads, VP of Amazon Global Air. “During a time when so …read more […]
Russia’s Rosneft , which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said.
Five companies have now been picked by the Trump administration as the most likely candidates to produce a coronavirus vaccine, The New York Times reports.This comes as part of Operation Warp Speed (OWS), the administration’s national program to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics.Among its other objectives, Operation Warp Speed aims to have substantial quantities of a safe and effective vaccine available for Americans by January 2021.The five companies selected are as follows:Moderna’s (MRNA) mRNA1273 which is currently undergoing Phase 2 trials;A joint collaboration between AstraZeneca (AZN) and Oxford University on AZD1222 which is …read more […]
Asian shares rose to a two-month high on Thursday as expectations of further government stimulus supported investor confidence in an economic recovery from the global coronavirus pandemic.
As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will take longer and prove more costly this year because of COVID-19.
German agrochemicals group Bayer AG has been blocked from selling its dicamba herbicide in the United States after an appeals court rejected a federal regulator’s permit for the product.
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