Oil prices fell in early trade on Thursday on worries about slow demand growth with coronavirus cases rising, U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve projecting recovery from the pandemic would take years. Brent crude futures fell 2.0%, or 85 cents, to $40.88 a barrel, also giving up gains from Wednesday. "The recent rally in crude oil prices stalled as rising inventories showed the path to a recovery will be a rocky one," ANZ analysts said in a note....
Nikola, which has yet to sell a truck, saw its market valuation surged to $31 billion — higher than Fiat Chrysler and Ford — in its first week of public trading. ...
Transportation Intermediaries Association’s President and CEO Robert Voltmann has announced plans to leave the association at the end of September 2020. Voltmann joined TIA as CEO in June 1997. ...
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]...
(Bloomberg) -- Texas on Wednesday reported 2,504 new coronavirus cases, the highest one-day total since the pandemic emerged.A month into its reopening, Florida this week reported 8,553 new cases -- the most of any seven-day period.California’s hospitalizations are at their highest since May 13 and have risen in nine of the past 10 days.A fresh onslaught of the novel coronavirus is bringing challenges for residents and the economy in pockets across the U.S. The localized surges have raised alarms among experts even as they’re masked by the nation’s overall case count, which early this week rose just under 1%, the smallest increase since March.“There is a new wave coming in parts of the country,” said Eric Toner, a senior scholar at the Johns Hopkins Center for Health Security. “It’s small and it’s distant so far, but it’s coming.”Though the outbreaks come weeks into state reopenings, it’s not clear that they’re linked...
(Bloomberg) -- Europe’s Just Eat Takeaway.com NV agreed to acquire U.S.-based Grubhub Inc. for $7.3 billion, in a deal that creates one of the world’s largest meal-delivery companies as the coronavirus pandemic drives a surge in orders.Amsterdam-based Just Eat Takeaway said it will pay $75.15 per share for Grubhub in an all-stock deal with an equity value of $7.3 billion. Grubhub’s stock price rose about 6% in extended trading to more than $62, while the European company fell about 13%.The deal sidelines Uber Technologies Inc., which had been in acquisition talks with Grubhub for at least a month. Political pressure raised questions about whether U.S. regulators would approve such a deal. The two companies had nearly aligned on a price but remained at odds over other issues, including terms of a breakup fee for Grubhub if the deal couldn’t be completed, people familiar with the matter said last month.Grubhub will launch...
