Automotive Fleet magazine has partnered with the Automotive Fleet & Leasing Association (AFLA) for its second COVID-19 webinar titled “Real-World Best Practices, Solutions, and Lessons Learned in Managing a Fleet During a Pandemic,” scheduled for Thursday, April 9 at 2pm CST. ...
The U.S. Air Force will release $882 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, a Pentagon official said on Thursday. The release of the payment to Boeing is part of a broader recommendation sent to Air Force contracting officials, according to a memo seen by Reuters, aimed at maintaining the financial health of suppliers to the Department of Defense. Will Roper, the Air Force's chief buyer, told reporters the initiative will free up billions of dollars in funding for numerous contractors, not just Boeing....
The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation. The recommendation, which was sent to Air Force contracting officials, is aimed at maintaining the financial health of suppliers to the Department of Defense, and will free up funding for numerous contractors, not just Boeing. Boeing's financial situation has become increasingly precarious as economic fallout from the coronavirus has frozen key lending markets and cut off demand for Boeing's commercial aircraft....
(Bloomberg) -- President Donald Trump’s triumphant tweet that Saudi Arabia and Russia are open to substantial cuts to oil production may come with a big catch: the U.S. and other non-OPEC producers would have to join them.Saudi Arabia’s desire for the world to share the burden means Trump would have to unify a fractious and discordant group of U.S. companies and states that haven’t faced output restrictions in nearly half a century, including about 6,000 shale drillers.Trump is scheduled to speak with the leaders of the U.S. industry on Friday in what could be a contentious meeting. The American Petroleum Institute, which is dominated by larger producers, wants the government to stay out of the domestic market and focus on diplomatic efforts. Some independent producers in Texas are in favor of output curbs because, in part, they’re running out of storage. Others, such as Trump confidante Harold Hamm, want the U.S....
As the worldwide coronavirus case count has risen towards 1 million, and as several people who have no known ties to existing cases have started to chart symptoms, the need for a reliable, mass-produced diagnostic test has become urgent.On March 12, Roche (RHHBY) received approval for its SARS-CoV2 test (PCR) that runs on the COBAS platform. The test has a fast turn-around time of 3.5 hours but there is limited supply. At the moment Roche can supply 3.5 million tests per month.Deutsche Bank’s Richard Parkes argues disruption to Roche’s routine diagnostic sales are offset by strong demand for COVID-19 tests. The demand for kits has exceeded capacity, with Roche able to produce 900,000 tests per week. Without providing specific pricing details, the company has confirmed that it is distributing its COVID-19 test at a price “modestly below its standard assay pricing structure.”Accordingly, the 5-star analyst reiterated a Buy rating on Roche...
U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike production in a battle for market share. One thing, however, has become clear: as oil prices in the past three months made some of their biggest gyrations in history, taking action will prove a severe, if not impossible, test for OPEC+, the informal grouping that had propped up crude prices for three years until their agreement collapsed in March....
Is it time to fade this short-term rally in the markets? Yes, this pro tells Yahoo Finance in large part because of the unpredictable nature of the coronavirus....
