(Bloomberg) -- The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting the country a step closer to losing its largest asset.The justices, without comment on Monday, left intact a federal appeals court victory for a defunct Canadian gold mining company seeking to force the sale of Citgo’s parent company. The gold company, Crystallex International Corp., is trying to collect a $1.4 billion arbitration award, most of which remains unpaid.The rebuff leaves Venezuela at risk of losing a much-needed source of revenue in Citgo. The country’s opposition leader, Juan Guaido, has been fighting to safeguard the assets since taking control of Citgo as part of his power struggle with President Nicolas Maduro.Crystallex is seeking compensation for Venezuela’s 2011 takeover of the company’s gold mining operations near Las Cristinas. Crystallex won in arbitration in 2016, and a Philadelphia-based federal appeals...
Stocks kicked off the week on a high note, fueled by a trifecta of positive headlines: Moderna’s success with a potential coronavirus vaccine, the Federal Reserve pledging more support for the recovery, and more states reopening their economies....
Few retailers might be able to write the history book on navigating the coronavirus pandemic as well as Walmart Inc (NYSE: WMT). The first chapter has already been written and investors will get to see it when the nation's largest retailer opens its first-quarter books this week.It's a multi-themed book, for sure, and investors might expect the ups and downs of any business thriller. Here's a sampling of possible themes when WMT releases earnings Tuesday morning. * Strong sales powered by a seemingly unprecedented amount of modern-day hoarding * Managing the health of workers and shoppers in tandem * The scramble to hire and fast-track training as many as 200,000 new workers--many of them coming from furloughed restaurant and retail jobs--to keep stores and warehouses well-staffed * The logistical challenges of shifting stores into distribution facilities and workers into new roles * The costs of rewarding frontline employees, amplifying sanitation and...
EUR/USD Current Price: 1.0905 * US Federal Reserve Powell said the central bank has not run out of armament. * German's Merkel and France's Macron proposed a rescue plan for the EU. * EUR/USD turned short-term bullish may near the critical 1.1000 level.Rallying equities led the way higher for EUR/USD, throughout the first half of the day, later boosted by news indicating that Germany and France have proposed an EU recovery fund of E500 billion. According to the German's Chancellor Merkel, the fund should give grants, no loans to member states, while France's Macron said it would focus on help countries or regions that have been particularly affected by the coronavirus outbreak. The pair hit a daily high of 1.0919, ending it above the 1.0900 level. Earlier in the day, stocks advanced on a mixture of optimistic coronavirus-related news and US Federal Reserve chief's Powell hinting more easing coming.Moderna, a biotech...
On Monday, Moderna announced that its coronavirus vaccine, mRNA-1273, had seen very strong, positive data from its phase 1 clinical studies. Yahoo Finance’s Anjalee Khemlani joins The Final Round to break down the latest news about the coronavirus....
Muddy Waters Capital Founder & CIO Carson Block joined Yahoo Finance's Jen Rogers, Myles Udland, and Dan Roberts to discuss his latest short call on GSX Techedu....
