(Bloomberg) -- European stocks fell the most in a week and U.S. futures slumped as a resurgence in virus cases around the world sharpened concern about the pace of the economic recovery.Retailers and travel shares -- companies that stand to benefit from life returning to normal after the pandemic -- were among the biggest losers in European trading. Oil and copper retreated, while gold approached $1,800 an ounce. The dollar index was little changed. Market sentiment is turning more negative on concern that the spreading coronavirus could force policy makers to slow the pace or reverse business re-openings. At the same time, there’s the potential for trade tensions to resurface between the Europe and the U.S. “The outbreaks have given markets the unpleasant reminder that the pandemic is far from over and that the economic recovery may be slower than expected,” said Mobeen Tahir, associate director of research at WisdomTree in...
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers and their suppliers have driven innovation that has helped shale and offshore wind companies by pioneering remote monitoring and control, and last year directly generated about 25% of global oil production....
Ford Motor Company (NYSE: F) will unveil the latest version of its best selling F-150 pickup truck this week with features such as an onboard generator and a reclining seat.What Happened Ford's vice president of U.S. marketing, sales and service Mark LaNeve said that the newest F-150 would "set a new bar in terms of capability, torque, payload, towing that [Ford's] truck customers need," reported Fox Business LaNeve also announced a hybrid version with an onboard generator that can power a work site or a home "for a short period of time."The Ford executive confirmed the presence of a sleeper seat, saying, "Our truck customers work hard for a living. You've got to take a little siesta in the middle of the day ... and you can lay flat."The automaker posted a teaser of its latest truck on Twitter on Tuesday ahead of the scheduled reveal Thursday.> Don't miss out -...
(Bloomberg) -- European stocks and U.S. futures slumped as a resurgence in virus cases in Tokyo, Germany and the American South sharpened concern about the pace of economic recovery. The Stoxx Europe 600 Index fell the most in a week with losses across all major industries. Oil and copper retreated, while the dollar steadied. Austria is selling another 100-year bond, locking in historically low borrowing costs from investors who have few alternatives for debt yielding more than 0.5%.Sentiment in markets is turning more negative on concern that the spreading virus could force policy makers to slow or reverse the pace of business re-openings. Tokyo reported 55 new infections, its highest daily tally since May 5, while Germany saw 712 new cases. The European Union is considering whether to keep a ban on Americans entering the bloc when external borders reopen.The International Monetary Fund is also due to release an updated outlook...
Shares in Plug Power (PLUG) spiked 16% in Tuesday’s trading after the company announced that it has completed the acquisitions of United Hydrogen Group and Giner ELX. Shares continued to rise 2% in after-hours trading. The stock has now more than doubled year-to-date.According to PLUG, these acquisitions boost its position in the hydrogen industry with capabilities in generation, liquefaction and distribution of hydrogen fuel- and establishs a clear pathway to transition from low-carbon to zero-carbon hydrogen solutions.With the acquisitions now complete, fuel cell maker Plug Power also boosted its 2024 financial targets to $1.2 billion in revenue (from $1 billion), $210 in operating income (vs $170 million), and $250 million in Adjusted EBITDA (up from $200 million previously).To Plug, the new guidance reflects the “significant margin enhancement potential in the hydrogen fuels business and the expected global growth of the electrolyzer market while meeting increased customer focus on sustainability and carbon reduction goals.”Indeed, Plug...
