Prices could continue to stabilize this week if more OPEC+ members announce early production cuts. An escalation of military activity in the Middle East will be a bonus. However, the wildcard will be the announcement of output cuts by U.S. producers. This news could trigger a steep short-covering rally....
The coronavirus relief act gives workers of any age a way to dip into retirement savings for emergencies. And retirees can drag out their withdrawals....
(Bloomberg) -- Bond investors are starting to debate whether the U.S. is heading into a deflationary spiral, even after trillions of dollars of stimulus to offset the pandemic-driven hit to growth.This year’s collapse in oil prices and the drumbeat of staggeringly weak economic data are putting the question front and center as the Federal Reserve meets this week. The central bank is expected to sit tight for now and assess the programs it’s rolled out in the past month to calm markets, while reiterating a commitment to do more as needed.But with market-based gauges showing investors see inflation stuck at best around half of the Fed’s target for the next decade, the risk of falling prices is creeping into money managers’ calculus. For Fred Marki at Western Asset Management Co., it comes down to the pace of economic recovery and the availability of testing and medical advances. Although the firm anticipates...
Boeing Co (BA) has pulled out of a $4.2 billion agreement to purchase Embraer SA’s (ERJ) commercial aviation business.The aerospace company announced on Saturday that it has terminated its Master Transaction Agreement (MTA) with Embraer, after the latter did not satisfy the necessary conditions. The two companies had planned to create a joint venture with Embraer's commercial jets unit and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft.Under the terms of the agreement Boeing had an option to terminate the agreement until April 24."Boeing has worked diligently over more than two years to finalize its transaction with Embraer. Over the past several months, we had productive but ultimately unsuccessful negotiations about unsatisfied MTA conditions," said Marc Allen, president of Embraer Partnership & Group Operations. "It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the...
Tesla (TSLA) CEO Elon Musk has revealed that Texas is a potential option for the company’s new Cybertruck factory- nicknamed ‘the Cybertruck Gigafactory’- following a grilling by the Twittersphere on Saturday.He also described the company’s California, Fremont factory as ‘at max capacity.’ The Fremont factory is currently in shutdown but should resume normal operations on May 4 following the expiration of the area’s stay-at-home directive.“Not saying new Giga will be in Texas, but Cybertruck will be produced there wherever it is, as Fremont is at max capacity” Musk told Twitter- a comment which earned him over 1,000 likes. He separately confirmed that an Austin-based ‘Giga Texas’ is an option for the company.Musk also clarified that the factory would produce both Cybertrucks and Model Y vehicles, adding “Needs to be more than halfway to east coast.”With multiple states and regions offering various incentives in their factory bids, Musk wrote “Incentives play a...
Investors were also nervous after reports surfaced saying North Korea’s leader Kim Jong Un may be “gravely ill”. This news is important because his death would threaten the stability in the region....
AT&T (T) announced on Friday that its chief executive officer Randell Stephenson will retire after a 13-year tenure and will be replaced by the telecom and media giant’s Chief Operating Officer John Stankey.Stankey who will take over as CEO on July 1, will join the company’s Board of Directors on June 1. He has been holding the COO post since October 2019. Stephenson will serve as Executive Chairman of the Board of Directors until January 2021 to support the leadership transition.AT&T had been searching for Stephenson’s successor since 2017 and most recently finalized a 5-month intensive search process to select a CEO who could lead the company “during these challenging economic times”.Commenting on the leadership change U.S. President Donald Trump called the succession “great news”.“Randall Stephenson, the CEO of heavily indebted AT&T, which owns and presides over Fake News@CNN, is leaving, or was forced out,” Trump said in a Twitter post....
