(Bloomberg) -- European stocks rose alongside U.S. equity futures on Thursday, trimming some losses from a day earlier as investors seeking to gauge the extent of damage caused by the coronavirus await the next set of corporate earnings and economic data. The dollar extended gains.The Stoxx Europe 600 Index opened higher with all major national gauges and most industry sectors in the green. Contracts for the three main American benchmarks also advanced after sliding on Wednesday amid miserable economic data. Shares fell in Hong Kong and Japan while stocks in China saw modest gains. Treasuries edged lower after rallying a day earlier and oil fluctuated near its lowest in two decades.The market is now bracing for the weekly U.S. unemployment figures due Thursday as both corporate results and economic data highlight the severe hit from the shutdown of industry and commerce needed to combat the spread of the coronavirus. American retail...
Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net zero by 2050. "Society's expectations have shifted quickly in the debate around climate change," Chief Executive Officer Ben van Beurden said in a statement. "Shell now needs to go further with our own ambitions, which is why we aim to be a net-zero emissions energy business by 2050 or sooner."...
Beleaguered cruise operator Carnival Corp (CCL) is considering temporarily limiting the number of passengers on each cruise, according to Business Insider.One option currently under consideration for when its cruises restart is to stop passengers from booking specific cabins, sources told Business Insider. For instance, the only cabins available for booking would be alternate cabins or those with fresh air access.In fact, according to the travel agents and industry experts, Carnival is already reporting solid demand trends for 2021, says the LA Times.An online poll by CruiseCritic.com suggests that 75% of cruise passengers plan to rebook at the same rate or even more often than before the coronavirus outbreak.Similarly UBS wrote on March 31 that cruise booking volume for 2021 was up 9% in the last 30 days compared with the same time last year. Even though this includes credit for canceled sailings, the volume still “shows a surprising resilience in desire...
(Bloomberg) -- Gold could top $2,000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont Corp., the world’s top miner of the precious metal.“The level of stimulus globally that’s going into the economy certainly underpins higher gold prices for the longer term, and I don’t think that stimulus has stopped yet,” Chief Executive Officer Tom Palmer said Thursday in a phone interview from Perth. “You could certainly see scenarios that have it pushing north of $2,000.”Spot bullion is trading around $1,720 -- close to a more than seven-year high -- and is forecast by numerous banks to extend gains as the impact of the virus pushes economies toward recession and prompts action from central banks. Those factors are adding to what was already a strong outlook, with rising demand among middle-class...
Warehouse supermarket chain Costco (COST) has announced that it is ramping up its dividend by 7.7%- at a time when many companies are suspending their dividend payments.On April 15, its Board of Directors declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from 65 to 70 cents per share, or $2.80 on an annualized basis. The latest hike marks COST’s 16th consecutive year of dividend growth.The dividend is payable May 15, 2020, to shareholders of record at the close of business on May 1, 2020.Costco stock has marginally increased on a year-to-date basis, and looking forward analysts are cautiously optimistic about the stock’s prospects.According to TipRanks, COST shows a Moderate Buy analyst consensus with a $329 average analyst price target. In the last three months the company has received 13 buy ratings and 7 hold ratings. (See COST stock analysis on TipRanks).“With what we view as a huge competitive...
(Bloomberg) -- Lim Hock Chee and his wife used to sell chilled pork at a rented stall in a grocery store.Now, after more than 35 years, his family operates 61 supermarkets across Singapore and has joined the ranks of billionaires.Shares of their Sheng Siong Group Ltd., which competes with Amazon.com Inc. in the city-state, rose to a record Wednesday as supermarkets have become the preferred place to shop after the government imposed a partial lockdown to contain the coronavirus pandemic. The stock has rallied more than 30% since a March 19 closing low.The family’s combined fortune, based on their 57% stake in the retailer held mainly by Lim and his two brothers, has surged to $1.1 billion, according to the Bloomberg Billionaires Index. That would have been inconceivable when Lim started the pork stall to help alleviate a supply glut at his father’s pig farm. The brothers took over the supermarket...
