Month: October 2020

…read more […]

Stock futures jumped Monday morning, recovering after Friday’s losses, as market participants continued to closely monitor developments around President Donald Trump’s health. …read more […]

The pandemic has intensified a price war between recycled and new plastic, made by the oil industry. “I really see a lot of people struggling,” Steve Wong, CEO of Hong-Kong based Fukutomi Recycling and chairman of the China Scrap Plastics Association told Reuters in an interview. Already since 1950, the world has created 6.3 billion tonnes of plastic waste, 91% of which has never been recycled, according to a 2017 study published in the journal Science. …read more […]

…read more […]

We read something disgusting last week.
It was an opinion piece detailing the depth of the financial pain caused by the COVID-19 shutdown.
The statistics weren’t anything new.
A prominent economist predicts half of Americans 55 and up will retire at or near the poverty line. That means they’ll live on less than $20,000 of income each year.
That thought should make you sick.
COVID-19 has made the problem worse, of course. The pain is certainly sharper.
But this is not a COVID-19 problem.
As so many like to argue these days, the virus isn’t the main cause of death… It’s merely an aggravating factor.
It brings us …read more […]

(Bloomberg) — Microsoft Corp. has agreed to build a series of new data centers in Greece, in a move the Greek government says will boost entrepreneurship and encourage other major companies to invest in the country.The “ongoing” investment will be the biggest by the U.S. technology giant in its 28 years of operations in Greece, Microsoft President Brad Smith said at a deal presentation in Athens Monday. The decision “shows confidence in the Greek economy, the Greek people and the government,” Smith said. “It’s not something we do in every country.”Microsoft will also start a training program to help fill …read more […]

Top news and what to watch in the markets on Monday, October 5, 2020. …read more […]

(Bloomberg) — Exxon Mobil Corp. has been planning to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows, setting one of the largest corporate emitters against international efforts to slow the pace of warming.The drive to expand both fossil-fuel production and planet-warming pollution comes at a time when some of Exxon’s rivals, such as BP Plc and Royal Dutch Shell Plc, are moving to curb oil and zero-out emissions. Exxon’s own assessment of its $210 billion investment strategy shows yearly emissions rising 17% by …read more […]

Indonesia’s government is in early discussions with electric vehicles maker Tesla Inc about a potential investment in the Southeast Asia country, a major producer of nickel, an official said. Indonesia is keen to develop a full supply chain for nickel at home, especially for extracting battery chemicals, making batteries and eventually building EVs. It has stopped exports of unprocessed nickel ore to support investment in its domestic industries. …read more […]

Indonesia’s government is in early discussions with electric vehicles maker Tesla Inc about a potential investment in the Southeast Asia country, a major producer of nickel, an official said. Indonesia is keen to develop a full supply chain for nickel at home, especially for extracting battery chemicals, making batteries and eventually building EVs. It has stopped exports of unprocessed nickel ore to support investment in its domestic industries. …read more […]

…read more […]

Microsoft Corp. will invest in cloud services infrastructure in Greece, a boon to the country’s economy that has been weakened by a decade-long debt crisis and the coronavirus pandemic, senior executives of the technology giant said on Monday. “We are investing today in research and technology in Greece,” Microsoft President Brad Smith said. …read more […]

Oct.05 — Jon Stanton, chief executive officer at Weir Group Plc., discusses the significance of the sale of its oil and gas business to Catepillar. He speaks on “Bloomberg Markets: European Open.” …read more […]

Oct.05 — Germany’s DAX 30 benchmark is set for a make-over. Index operator Qontigo, a unit of Frankfurt-based Deutsche Boerse AG, has started a four-week market consultation to improve the gauge. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Alibaba Group Holding Ltd. agreed to buy as much as a 9.99% stake in Dufry AG, giving the Swiss duty-free giant a lifeline as the pandemic hammers the business.Dufry said Monday it’s proposing a capital increase that will raise up to 700 million Swiss francs ($763 million), and Alibaba will participate. Advent International Corp., a private equity company, also plans to invest as much as 455 million francs. Dufry shares surged as much as 16%.The Swiss company said the proceeds from the share sale will help it buy out its Hudson Ltd. U.S. unit, as previously announced.The capital …read more […]