On April 25, professional driver Nicole Folz took her first steps in 15 days outside a makeshift COVID-19 camp at an undisclosed airport hotel in Toronto, and return home. ...
(Bloomberg) -- Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter.Government officials piled some 9 tons of gold -- an amount equal to about $500 million -- on Tehran-bound jets this month as payment for Iran’s assistance in reviving Venezuela’s crippled gasoline refineries, the people said. The shipments, which resulted in a sudden drop in Venezuela’s published foreign reserve figures, leave the crisis-ravaged country with just $6.3 billion in hard-currency assets, the lowest amount in three decades.The two nations -- both pariahs of sorts in international circles -- are working more closely together as they try to withstand withering U.S. sanctions and a coronavirus-sparked collapse in the price of oil, their main source of revenue. For Iran, the deals provide a fresh...
Truck stop/travel plaza association NATSO has partnered with the International Franchise Association (IFA) to offer truck drivers up-to-date information about food options at truck stops and travel plazas across the country. ...
(Bloomberg) -- When the boss of Royal Dutch Shell Plc slashed his dividend on Thursday, he didn’t just shock investors. He tore up the industry’s financial playbook.For decades Big Oil has used the strength of a large balance sheet to borrow money when the going gets tough and keep investors sweet until the next upward cycle.As the coronavirus pandemic potentially causes lasting damage to energy demand, Europe’s largest oil company asked whether this strategy is sustainable.“I would say no,” said Shell Chief Executive Officer Ben van Beurden. “It’s also not wise and prudent, nor even responsible, to pay out a dividend if you know for sure you have to borrow for it.”Oil majors had no problem borrowing to pay shareholders during previous downturns. Over the years, Shell has weathered recessions, wars, nationalizations, and deep price slumps.So why is this time different?Lasting DamageThe coronavirus pandemic has delivered an unprecedented hit to demand...
The number of jobs lost due to the coronavirus shutdown continue to mount, with the latest weekly total of Americans applying for unemployment benefits nearly topping 4 million yet again. Yahoo Finance’s Zack Guzman and Heidi Chung break down the details. ...
