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Stocks, oil under pressure amid fears of second wave of pandemic

Reuters Business News - Mon, 06/15/2020 - 06:30
Fears of a second wave of COVID-19 infections sent jitters across global markets on Monday with stocks and oil under pressure while investors bought into safe havens such as government bonds.
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Charging points surge ahead of electric car boom

Reuters Business News - Mon, 06/15/2020 - 06:06
The number of publicly accessible charging points for electric vehicles (EV) jumped 60% in 2019, the biggest increase in three years and outpacing sales of battery-powered cars, according to the International Energy Agency (IEA).
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Virus second-wave fears rattle markets, stocks fall

Reuters Business News - Mon, 06/15/2020 - 05:41
Fears that a second wave of COVID-19 infections is under way sent jitters across global markets on Monday with stocks and oil under pressure while investors bought into safe havens such as German government debt.
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BP cuts up to $17.5 billion from assets' value with bleaker oil outlook

Reuters Business News - Mon, 06/15/2020 - 05:36
BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels.
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Futures drop on fears of fresh virus wave

Reuters Business News - Mon, 06/15/2020 - 05:31
U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.
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Exclusive: Mexico's oil hedge to be pricier, but government likely doing it anyway

Reuters Business News - Mon, 06/15/2020 - 05:28
Mexico will have to pay more for less coverage under its giant oil revenue insurance policy for 2021, but will likely go ahead anyway to avoid further damaging its financial standing with international investors, sources said.
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Volkswagen in Mexico will begin sending workers back to plant on Tuesday

Reuters Business News - Mon, 06/15/2020 - 05:04
Volkswagen AG's Mexican unit will begin sending workers back to its plant in the central state of Puebla on Tuesday for "preparation and training eyeing a gradual start further ahead," the company said in a statement on Sunday.
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SoftBank buybacks pick up in June; $4.7 billion spent in total

Reuters Business News - Mon, 06/15/2020 - 04:49
SoftBank Group Corp share buybacks accelerated in June, with a total of 499.9 billion yen ($4.66 billion) spent on buying back 107.7 million of its shares since March, a company filing showed on Monday.
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Intesa, BPER revise terms aiming to avert antitrust hurdles to UBI deal

Reuters Business News - Mon, 06/15/2020 - 04:02
Italian bank Intesa Sanpaolo has increased the number of branches and amount of assets it will sell to rival BPER if its proposed takeover of UBI Banca goes through in an effort to overcome antitrust objections to the deal.
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BPER sees cash call of 600-700 million euro to fund new Intesa deal: sources

Reuters Business News - Mon, 06/15/2020 - 04:01
Italy's BPER Banca estimates it will need to raise 600-700 million euros in a new share issue to fund a revised deal to buy branches and assets from Intesa Sanpaolo , two sources with knowledge of the matter said on Monday.
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Commerzbank preparing to make more job cuts: board member

Reuters Business News - Mon, 06/15/2020 - 03:32
Commerzbank will announce "considerably" more branch closures and job cuts when it lays out its strategy review in August, a member of the bank's supervisory board said on Monday.
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H&M says recovery uneven after March-May sales tumble 50%

Reuters Business News - Mon, 06/15/2020 - 03:31
H&M , the world's second-biggest fashion retailer, on Monday reported a sharp but slightly smaller than expected drop in second-quarter sales as measures to slow the COVID-19 pandemic slammed the sector.
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Oil falls on growing fears of a second wave of coronavirus

Reuters Business News - Mon, 06/15/2020 - 03:31
Oil prices fell on Monday as new coronavirus infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could weigh on the recovery of fuel demand.
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Analysts' view: Market jitters over second COVID-19 wave are an overdue pullback

Reuters Business News - Mon, 06/15/2020 - 02:55
A second straight day of record new coronavirus cases in Beijing and a spike in infections across a swathe of the United States has dented investor sentiment and sent stocks sharply lower on Monday.
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Commerzbank to cut more jobs, branches: board member

Reuters Business News - Mon, 06/15/2020 - 02:42
Commerzbank will announce "considerably" more branch closures and job cuts when it lays out its strategy review in August, a member of the bank's supervisory board said on Monday.
Categories: Reuters

Oil slumps further amid prospect of resurgence of coronavirus

Reuters Business News - Mon, 06/15/2020 - 02:24
Oil slumped on Monday, extending last week's losses, as new coronavirus infections hit China, Japan and the United States' increasing concerns that a resurgence of the virus could weigh on the recovery of fuel demand.
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BP to take up to $17.5 billion writedown, lowers oil outlook

Reuters Business News - Mon, 06/15/2020 - 02:22
BP will take a writedown of up to $17.5 billion in its second-quarter earnings after sharply lowering its long-term oil and gas price outlook as it now expects a faster transition away from fossil fuels.
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H&M's March-May sales tumble by less than expected 50%

Reuters Business News - Mon, 06/15/2020 - 02:05
H&M , the world's second-biggest fashion retailer, on Monday reported a sharp but slightly smaller than expected drop in second-quarter sales as measures to slow the COVID-19 pandemic slammed the sector.
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China's factory output perks up but consumers stay cautious

Reuters Business News - Mon, 06/15/2020 - 02:03
China's factories stepped up production for a second straight month in May, as the country shook off the economic torpor of the coronavirus, although the weaker-than-expected gain suggested the recovery remained fragile.
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Dutch Tata Steel employees hold further strike actions

Reuters Business News - Mon, 06/15/2020 - 01:59
Dutch Tata Steel employees held further strike actions on Monday to protest against job cuts planned as part of a broader restructuring, the FNV union said.
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