Skip to content
(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal.After almost a week of wrangling, the group’s leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Baghdad to stop shirking its share of cuts and to compensate for past failings.The Organization of Petroleum Exporting Countries will meet by video conference on Saturday at 1 p.m. London time, followed by a conference with their OPEC+ allies two hours later, delegates said. The agreement, once ratified, will extend the record OPEC+ production curbs for another month until the end of July, instead of easing them as previously planned.Brent crude advanced as traders anticipated a tighter market in the coming months. The international benchmark was poised for a sixth...
For all but a select few industries, the novel coronavirus represented the blackest of black swan events. This was especially the case for telecommunications equipment providers like Nokia (NYSE:NOK) and regional rival Ericsson (NASDAQ:ERIC). After trudging through some uncertain waters in 2019 due to the U.S.-China trade war, along with concerns about a global recession, 2020 offered hope. For instance, Nokia stock found itself up double-digit percentage points in early February.Source: RistoH / Shutterstock.com However, the Covid-19 pandemic immediately crushed that optimism. Although NOK has been through multiple health-related crises before - most notably SARS and the 2009 H1N1 outbreak - the coronavirus took such calamities to another dimension.To stem the tide against this rapidly proliferating virus, multiple countries, including the U.S., instituted broad lockdowns.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis was particularly harmful for Nokia stock as it meant that the underlying company would see progress in...
(Bloomberg Opinion) -- Warren Buffett says “nothing can stop America.” To put his money where his mouth is and spend some of his $137 billion stash before this crisis is over, he wouldn’t have to look far. If there’s one company that warrants the dealmaker’s attention, it may be Costco Wholesale Corp., a retailer in which Buffett’s Berkshire Hathaway Inc. already owns a stake. At Berkshire’s virtual shareholder meeting last month, Buffett signaled that the Covid-19 pandemic hasn’t afforded him deal opportunities at bargain-basement prices the way past economic meltdowns have. Despite the nationwide shutdowns that are just starting to lift and a soaring unemployment rate, the S&P 500 Index is only 8% off its February all-time high. That’s partly due to aggressive actions taken by the Federal Reserve to mitigate the crisis, though one can’t deny that there exists an astonishing disconnect between stock prices and the economic realities of many Americans right now.Costco wouldn’t be a typical crisis-era bet for...
Shareholders of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) will be pleased this week, given that the stock......
CEO Gerald "Jerry" Volas has a simple approach to success: putting consumers first and empowering local employees to work with them....
