Month: October 2020

WINNIPEG, Manitoba/NEW YORK (Reuters) – U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by 2030. Renewable diesel, made by processing spent cooking oil, canola oil or animal fats, can be used in high concentrations or without blending in conventional diesel engines. …read more […]

News of Trump’s hospitalization at a military medical center outside Washington, where he remained on Saturday, came after trading ended on Friday. Many investors are concerned, however, that a serious decline in Trump’s health less than a month before Americans go to the polls on Nov. 3 could roil a U.S. stock market that recently notched its worst monthly performance since its selloff in March while causing turbulence in other assets. …read more […]

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A day after President Trump tweeted that he tested positive for Covid-19, the White House offered conflicting reports on the status of his health, and a growing number of Trump associates also reported infections. WSJ’s Jason Bellini has the latest. Photo: Twitter/@realDonaldTrump …read more […]

Economic data, U.S politics, Brexit, and updates on Trump’s health to drive the markets in what will be another busy week. …read more […]

The outlook for the aviation industry has deteriorated again due to rising coronavirus infections and renewed travel restrictions, Airbus chief operating officer Michael Schoellhorn was quoted as saying on Saturday. Airbus has said it needs to shed 15,000 posts worldwide. In an interview with the Handelsblatt business daily, Schoellhorn said the situation in early autumn was worse than the company had expected in the summer, adding that the planned 15,000 job cuts would be the minimum. …read more […]

This weekend’s Barron’s cover story discusses what the president’s COVID-19 diagnosis could mean for already battered industries.Other featured articles discuss how to play the video game boom and a big merger for which renowned activist investor is pushing. Also, the prospects for a crane maker, recreational vehicle stocks, lithium producers and more.Cover story “Trump’s Virus Diagnosis Clouds the Outlook for Already-Battered Industries” by Daren Fonda says that with the November election fast approaching, the news that the president has coronavirus adds another level of uncertainty for many industries. See what Barron’s believes that means for Southwest Airlines Co (NYSE: LUVE) …read more […]

(Bloomberg) — President Donald Trump pressed for a deal on another round of pandemic aid to jolt the U.S. economic recovery, saying the country “wants and needs” fiscal stimulus.With Trump receiving treatment at Walter Reed military hospital outside Washington after testing positive for the coronavirus, his tweet on Saturday departed from his health to focus on weeks of partisan deadlock over another stimulus bill.U.S. House Speaker Nancy Pelosi said Friday that negotiations with the White House will press ahead and Trump’s Covid-19 diagnosis might change the tenor of the talks by underscoring the seriousness of the pandemic.The two sides remain …read more […]

With President Trump hospitalized with the coronavirus, Dow Jones futures and the stock market rally are likely to take their cue from his condition. Here’s your investing prescription …read more […]

* Benzinga has examined the prospects for many investor favorite stocks over the last week. * Cults stocks were well-represented among the bullish calls this past week. * Bearish calls included a FANG stock and the electric vehicle leader.President Donald Trump continued to dominate the headlines as the fourth quarter kicked off, from his tax returns and controversial Supreme Court nominee to the contentious first presidential debate and his COVID-19 diagnosis.Despite continued volatility, the main U.S. indexes ended the week marginally higher, led by a 2% gain in the Dow Jones industrials, even though the week also …read more […]

The following is excerpted from an article that originally appeared on CapitalWatch Most of us know the story of Luckin Coffee (Pink: LKNCY). In a nutshell, the company was supposed to be the “Starbucks of China” giving the American coffee giant a run for its money on the Mainland. The Beijing-based company launched in 2017 and quickly grew its stores and pick-up locations to rival Starbucks Corporation (NASDAQ: SBUX) in China. The stock exploded in popularity. And then, it just exploded.First, reports emerged in January that Luckin had fabricated its financial data, an allegation which the company, of course, denied. …read more […]

You’ve heard it before: If something seems too good to be true, it likely is.
Yesterday in his popular State of the Market YouTube series, Chief Income Strategist Marc Lichtenfeld tackled one of the financial world’s most insidious products – which is also one of its most tempting ones.
Especially when they’re peddled by stars like Tom Selleck…
I’m talking about reverse mortgages. Reverse mortgages offer borrowers a dazzling amount of money upfront or in installments, and they have to be paid back only after the borrower moves out of the house or passes away.
It sounds like the perfect solution for aging in …read more […]

(Bloomberg) — Donald Trump’s physician said the president is “doing very well” and his condition is improving while being treated at a U.S. military hospital near Washington for Covid-19.Trump’s campaign manager Bill Stepien tested positive, as did former White House Senior Adviser Kellyanne Conway and former New Jersey Governor Chris Christie. Three Republican senators have tested positive in the past day, and another has decided to quarantine despite testing negative. Vice President Mike Pence is said to have tested negative on Saturday morning.The president said early Friday that he had tested positive along with his wife and one of his …read more […]

This really was the gold standard of road trips. The Netherlands’ central bank transported its Dutch-based stock of gold — 14,000 bars and about 1,000 boxes of gold coins — from its headquarters in Amsterdam to a safe in the nearby city of Haarlem in a meticulously and closely guarded operation that ended Saturday, the bank said in a statement. Along with the bullion worth 10 billion euros ($11.7 billion), the bank also shifted bills worth another 4.5 billion euros ($5.3 billion) in the operation that was led by the Royal Dutch Military Police. …read more […]

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them… …read more […]