(Bloomberg) -- Oil was poised to resume a run of weekly gains on signs consumption is picking up as economies emerge from lockdowns, despite many countries still struggling to bring the coronavirus under control.Futures in New York edged above $39 a barrel Friday and are up around 8% this week. Top trading houses Vitol SA and Trafigura Group said global oil demand is recovering rapidly from its nadir in April, with Trafigura estimating it’s at 90% of pre-virus levels. Gasoline futures in the U.S. moved into backwardation for the first time in three months on Thursday, a bullish signal that indicates supplies are tightening as the summer driving season gets underway.A potential resurgence of the virus is clouding the long-term outlook, however. Traffic in Beijing has plunged as authorities battle a fresh outbreak, while some U.S. states including Texas are still seeing record increases in cases.Oil is resuming its upward trend...
Jun.18 -- As the 2020 U.S. election cycle heats up, cybersecurity firm Cloudflare Inc. says it blocks 400-thousand attacks against political campaigns on a typical day. Matthew Prince, chief executive officer at Cloudflare describes how the San Francisco-based company also protects advocacy groups fighting racism. He speaks on "Bloomberg Technology."...
Pandemic lockdowns are easing and freight levels are increasing, but the COVID-19 virus is still out there, and it may take a while for the economy to recover. What does the future hold for our country’s economy and the trucking industry? ...
JetBlue Airways published a simple press release Thursday announcing 30 new routes starting this summer and fall, mainly for leisure customers, to leverage a nascent recovery. But to insiders, it was more — a manifesto showing that JetBlue, now in survival mode, no longer plans to play by the industry's unwritten rules. First, some background. […]...
(Bloomberg) -- CureVac AG, a player in the hotly contested race for a coronavirus vaccine and soon to be partly owned by the German government, is working with Bank of America Corp. and Jefferies Financial Group Inc. on a U.S. initial public offering, according to people familiar with the matter.The vaccine maker, based in Tuebingen, Germany, could raise $150 million to $200 million, valuing the company at $1 billion, said the people, who asked not to be identified because the information wasn’t public. That valuation could change depending on whether regulators approve a vaccine.CureVac Chief Financial Officer Pierre Kemula said in an interview Monday that the company was considering an IPO. Other companies trying to develop coronavirus vaccines, including Moderna Inc. and BioNTech SE, are already public.“At this stage we have sufficient amount of capital coming in to decide either way,” Kemula said at the time.According to a German government document,...
