Category: Trucking News

2 Apr by Vitaliy Dadalyan Tags:

Trump says he brokered deal with Saudi, Russia for huge oil cuts

U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%. Trump said he spoke with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman, and now expected the two nations to cut output by 10 million barrels per day (bpd) - an unprecedented number representing 10% of global supply. Trump said cuts could amount to as much as 15 million bpd but didn't say whether the United States, the world's largest oil producer, would contribute to reductions, a move which is forbidden by U.S. antitrust legislation....
2 Apr by Vitaliy Dadalyan Tags:

Trump touts 'great' Saudi-Russia oil deal to halt price rout, details unclear

U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear. Trump said the two nations could cut output by 10 to 15 million barrels per day (bpd) - an unprecedented amount representing 10% to 15% of global supply, and one that would require the participation of nations outside of OPEC and its allies. A senior U.S. administration official familiar with the matter said Trump would not formally ask U.S. oil companies to contribute to the production cuts, a move forbidden by U.S. antitrust legislation....
2 Apr by Vitaliy Dadalyan Tags:

Walgreens Beats Quarterly Earnings Bets as U.S. Pharmacy Sales Boom

U.S. drugstore chain operator Walgreens Boots Alliance Inc. (WBA) reported on Thursday second-quarter earnings above analysts’ expectations as consumers stock up on over-the-counter medicine, prescriptions, cleaning and hygiene products.Walgreens said that the impact from the coronavirus pandemic began at the end of the second quarter and was not “material” to overall results. Looking ahead Walgreens cautioned that to date the company was not in a “position to accurately forecast the future impacts.”In the second quarter ended Feb. 29, Walgreens net income fell to $946 million, or $1.07 per share, from $1.16 billion, or $1.24 per share, in the year earlier period. Walgreens posted adjusted EPS of $1.52,  beating the EPS of $1.46 analysts were expecting.Revenue grew to $35.82 billion, from $34.53 billion last year versus the $35.27 billion analysts expected. U.S. retail pharmacy sales rose 3.8% to $27.2 billion in the quarter from the same period a year ago.Wall Street analysts...
2 Apr by Vitaliy Dadalyan Tags:

Elon Musk's SpaceX Bans Employee Use Of Zoom: Report

Tesla (NASDAQ: TSLA) CEO Elon Musk's rocket company SpaceX is banning employees from using video conferencing app Zoom Video Communications (NASDAQ: ZM), citing "significant privacy and security concerns," Reuters reported Wednesday. On Monday, the New York Times reported that the office of the New York Attorney General is probing Zoom's data privacy and security practices.In a letter to Zoom, the AG's office asked the telecommunications company what security measures it has taken in light of the increased traffic on its network, according to the Times.Zoom Video shares were down 10.44% at $122.70 at the time of publication Thursday. The stock has a 52-week high of $164.94 and a 52-week low of $59.94.Related Links:Zoom Shares Drop As New York Attorney General Looks Into Company's Privacy, Security PracticesZoom Video Falls Despite Q4 Earnings Beat, Strong GuidancePhoto courtesy of SpaceX. See more from Benzinga * Why Zoom Video's Stock Is Trading Higher Today *...