FTSE 100 and US stocks rise as investors bet on recovery May 28, 2020 US stocks have joined the FTSE 100 in the green as investors continue to bet on a relatively swift economic recovery from coronavirus, with spirits high as countries reopen their economies. London’s main stock index was up one per cent in afternoon trading at 6,205 points. It had risen more than one per cent yesterday. [...]
Oil giant Chevron to cut up to 7,000 jobs due to coronavirus May 27, 2020 US oil giant Chevron is set to cut up to 7,000 jobs as it seeks to restructure after the coronavirus pandemic hammered global oil prices and squeezed demand around the world. The firm, which is the US’ second largest producer of oil, had already said that it would reduce its budget for the year by [...]
FTSE 100 rallies as reopening optimism takes hold May 27, 2020 The FTSE 100 extended gains made yesterday as investors focused on the phased reopening of the economy. London’s blue-chip index closed up 1.26 per cent at 6,144 points as investors took comfort in increased hopes of a recovery. The Prime Minister set out plans to reopen parts of the economy from next week, as the [...]
US stocks open higher as recovery hopes outweigh tension with China May 27, 2020 US stocks extended gains as hopes of an economic recovery and vaccine developments outweighed growing tensions with China. The Dow Jones index was up 1.33 per cent. The S&P 500 rose 0.97 per cent to 3,015 while the Nasdaq was nudged down 0.29 per cent. The gradual easing of lockdown restrictions, paired with optimism about [...]
Global energy investment set to slump by record $400bn in 2020 May 27, 2020 Global energy investment is expected to suffer its greatest annual fall on record this year due to the coronavirus crisis. Investment is set to crash by $400bn (£325bn) — or 20 per cent — in 2020, according to the International Energy Agency (IEA). At the start of the year, funding was on track for a [...]
EDF submits planning application for Sizewell C nuclear power station May 27, 2020 EDF has this morning submitted an application to build the new Sizewell C nuclear power plant on the Suffolk coast to the Planning Inspectorate. The plant, which the French firm is developing in partnership with China’s state-owned nuclear company CGN, will be a near replica of Hinkley Point C in Somerset. Upon completion, the power [...]
Warner Music Group resumes $1.8bn IPO after coroanvirus May 26, 2020 Ed Sheeran’s record label Warner Music Group (WMG) is seeking to raise $1.8bn (£1.5bn) as it restarts its initial public offering (IPO) process after it was interrupted by the coronavirus pandemic. In a statement, WMG today said it would seek to sell 70m shares – 14 per cent of the company – at a targeted [...]
FTSE 100 rises as retail sector prepares to reopen May 26, 2020 The UK’s FTSE 100 closed higher after investors welcomed Boris Johnson’s plans for the phased reopening of the retail sector. London’s blue-chip index closed 1.28 per cent at 6,069 points, as the retail sector prepared to re-open in mid-June. In the Downing Street briefing last night, the Prime Minister said there will be a formal [...]
Traders return to NYSE floor after two months May 26, 2020 Traders returned to the New York Stock Exchange (NYSE) for the first time in two months after closing due to the pandemic. New York Governor Andrew Cuomo rang the opening bell to restart in-person trading, but it was not a complete return to normal. Due to safety concerns, only a quarter of brokers will return [...]
US stocks jump as investors welcome easing of coronavirus restrictions May 26, 2020 US stocks extended gains seen across Asia and Europe as the global easing of lockdowns boosted optimism among investors. The Dow Jones index was up 2.47 per cent higher. The S&P 500 rose 1.93 per cent to bring 3,000 while the Nasdaq edged up 1.39 per cent. European stocks opened higher this morning, as investors [...]