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  • Mideast Markets Mixed With All Eyes on OPEC+ Meeting: Inside EM

    Mideast Markets Mixed With All Eyes on OPEC+ Meeting: Inside EM(Bloomberg) -- Middle Eastern equity markets traded in mixed directions after OPEC+ delayed a meeting aimed at ending the oil price war.The main benchmark in Riyadh rose as much as 2% before finishing little changed. Gauges in Kuwait, Oman and Qatar advanced as much as 0.3%, while Dubai’s benchmark lost the most, ending 2.4% lower on pressure among big local lenders.Brent crude rebounded 37% last week on hopes that global producers will decide to make historic output cuts, though optimism was tempered by concern that the curbs won’t avert a glut. The OPEC+ meeting was initially expected for Monday, but got delayed to April 9 as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.Read more: Gulf’s Top Two Economies Suffer Record Declines After Virus HitSaudi Aramco shares gained as much as 2.8% shortly after the open, climbing above their IPO price for the first time in a month. They reversed gains near the end of the session to close 0.5% lower. The company delayed the release of its key monthly oil pricing list until later this week.In the U.A.E., Dubai Islamic Bank PJSC’s shares fell the maximum allowed after the lender said it had $541 million of exposure to troubled hospital operator NMC Health Plc. Abu Dhabi Islamic Bank also ended limit down after disclosing an exposure of $291.4 million to the health-care firm.Related:NMC Creditor ADCB Calls for Health Firm to Enter AdministrationDubai Islamic Bank Faces $541 Million Exposure to NMC HealthAbu Dhabi Islamic Bank Exposure to NMC at $291.4 MillionU.A.E. Central Bank Cuts Reserve Requirements, Unveils More AidFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • India reassures banks of capital infusion: sources

    India reassures banks of capital infusion: sourcesIndia has assured state banks it is ready to provide capital support as the coronavirus pandemic may lead to a surge in bad loans when economic growth is slowing, three government and banking sources told Reuters. New Delhi may need to make a provision of at least 200-250 billion rupees ($5.90 billion) for capital infusion in state-run banks. "The NPAs (non-performing assets) could remain an issue and the government may need to make a provision for some capital infusion in the public sector banks," said a senior government official with direct knowledge of the issue.


  • The Didactic Plague

    The Didactic PlagueThere are two Christian concepts on my mind on this Palm Sunday. One is theodicy, the other is the sin of presumption.“Theodicy” means “the vindication of God,” referring to a seeming conundrum that has vexed Christian thinkers since the beginning: How can evil coexist with an all-good, all-loving, all-powerful God?Christians conceive of God as a father, which occasionally places us in the role of resentful adolescents: If God really cares about us, why did He let my friend die? If God really cares about us, why did He let that earthquake kill all those innocent people? I never asked to be born! There is a philosophically sophisticated version of that line of questioning, but the underlying dynamic is the same. Many Christian theologians consider the problem of evil to be the most persuasive intellectual challenge to the idea of God as Christians understand Him, and so theodicy has been a very hot topic for a couple of millennia now.One common answer to the problem of evil is the “free will theodicy,” the proposal that among the good things God wants to give mankind are “freedom goods” as T. Ryan Byerly of Sheffield University calls them, morally valuable developments that can be had only under free-will conditions. Mankind cannot have the blessing of choosing the good without also having the opportunity to reject the good, hence evil and its product, suffering, are inevitable byproducts of God’s desire for us to enjoy a rarefied blessing unavailable to automatons.One of the shortcomings of that line of argument is that, if we are to take Scripture seriously, God Himself often is the one who chooses suffering for us — and even chooses sin for us. The plagues that God unleashes on Egypt might be understood as the divinely ordained punishment for Pharaoh’s refusal to accept Moses’s command and let God’s people go, but God has stacked the deck: “The Lord hardened the heart of Pharaoh,” the Scripture says. Pharaoh may have been a hard man, but he did not choose to have as hard a heart as God gave him. He plays the role of the masterful tyrant, but he is only an instrument, not even lord of his own heart.The plagues that beset the Egyptians are not merely punitive but didactic — they are sent to teach the Egyptians and the Israelites, and subsequent readers, a lesson. The plagues are not random horrifying afflictions but a systematic assault on the economic, religious, and monarchical infrastructure of the Egyptian kingdom, not only sickening and killing the Egyptians but mocking them and, specifically, mocking their deities, beginning with the fertility deities associated with the Nile and with frogs and ending with the killing of the firstborn.It is difficult not to think of that in the context of the epidemic that is at the moment inflicting death and suffering on the guilty and the innocent alike around the world. As with the plagues that were visited upon Egypt, there is sickness but also economic and political damage. More than 6 million Americans filed new unemployment claims last week. Confidence in our institutions is low — and, if we are to believe the evidence of our own eyes, it deserves to be low.And here, spare a minute for the sin of presumption and its twin, the sin of despair. Presumption, in its narrowest sense, is a perversion of hope — it is the belief that God’s mercy will embrace us irrespective of our own course, with no need for repentance or acts of reconciliation on our part. It is the mirror image of the sin of despair, the belief that our depravity is so deep and so wild that it is beyond God’s salvific powers. What presumption and despair have in common is the mistaken belief that God’s mind is knowable by such creatures as us, that He can be hemmed in by our narrow ethical prejudices, that he is an algebraic God who may be approached formulaically, as an equation to be balanced. To be presumptuous is to speak on God’s behalf with unwarranted confidence and foundationless certitude. It is what, for example, Pat Robertson was engaged in when he took the terrorist attacks of September 11, 2001, as God’s judgment on all the homosexuals and feminists in New York City. That Robertson was engaged in oafish jackassery was almost universally understood, a minor illustration of the fact that a sin can be its own punishment.I do not know if God “sent” this epidemic to teach us a lesson. I am not much of a theologian. The moral lesson that I have taken from reading the Bible is that God’s sense of justice, fitness, and proportionality is at odds with my own, but He still gets to be God. I trust, but do not presume, that He will forgive my occasional irritation at those famous “mysterious ways” of His.But there are lessons to be learned from this plague in any case: that our mighty edifices of technology and capital are frailer than they seem, that cooperation is necessary for our survival, that the ethical character of our leadership matters not abstractly but in immediate and practical ways, that many of us, beginning with me, have taken too much for granted, have been excessively presumptuous and insufficiently grateful for too many things.“Lord, make us truly grateful” the prayer goes. And so He has, and it is excruciating. Mysterious ways, indeed.


  • A News Source You Can Trust

    A News Source You Can TrustAt this time of national crisis, please consider supporting our crucial work here at National Review as we continue to provide you with first-rate news, commentary, and analysis.As the novel coronavirus spreads throughout our country, I have found myself wanting to spend more time than usual thinking about something other than the constant grimness of the news cycle. But in order to do my job of keeping our faithful readers up to date and informed, I have to stay informed myself — and over the last month, I’ve found that there’s no better place to do so than right here at National Review.You might expect me to say that, but I have plenty of evidence to back it up.First thing in the morning, rather than tune in to the din of cable news or the constant spats on Twitter, I turn to Jim Geraghty’s Morning Jolt, which delivers precisely the right updates right to my inbox. Jim’s commentary on the COVID-19 crisis has been factual, level-headed, and realistic, all qualities that are increasingly hard to come by in reporting on this subject. For just a couple of examples, consider his comprehensive timeline of all the lies the Chinese government told about the novel coronavirus, or his rundown of how poorly New York City mayor Bill de Blasio has handled this situation.And Jim is just one of several insightful, intelligent, hard-working writers here at NRO who spend each day bringing you the very best information, analysis, and commentary at a time when you’re relying on us.If I want a short, straightforward, explanatory article on all the latest in the spread of this awful disease, we have Daniel Tenreiro’s indispensable daily coronavirus updates, which help me get the gist of the news without having to bury myself in data or sift through partisan talking points.Our tireless news team is working round the clock to cover updates on the U.S. response to the virus and the ways that federal and state leaders are managing this crisis — while managing to keep us apprised of non-coronavirus news, too.The most recent editions of National Review magazine have been full to the brim with essays from some of the sharpest minds in the conservative policy and media worlds, analyzing the epidemic from every possible angle to help you understand the situation we’re facing, how we got here, and how we can get out.And I myself have been busy writing about how abortion activists are using the COVID-19 outbreak to loosen safety restrictions on at-home abortions and sue state governments as lawmakers try to limit abortion to stop the spread of disease and conserve precious medical supplies.I’m grateful to work at one of the few places that is striving to keep readers informed about this pandemic, providing honest, realistic, thoughtful content at this time of national emergency. But I’m grateful, too, that even in the midst of such a crisis, I work at a place that allows me to continue writing about topics other than the virus.I recently had the chance to write a review for NRO of a book about pro-life feminism; I’ve been covering the unfortunate loss of pro-life Democrat Dan Lipinski in his Illinois congressional district; and in one of our latest print magazines, I had a feature piece on some of the little-known leaders of the pro-life movement. Even as we all are rightly concerned about finding ways to stay safe and healthy and chart a path out of this mess, we at National Review remain focused on all the most important things, including defending unborn human life.If you value the work we do here at National Review — both during this particularly difficult time and throughout the typical ups and downs of politics and culture — please support us. We know this is a difficult financial time for many, but we will be most grateful for any help you can give.


  • France struggles to give virus victims dignified deaths

    France struggles to give virus victims dignified deathsWith those worst hit by the virus facing an agonising death from asphyxia, palliative care specialists in France are struggling amid drug shortages to give victims the most humane end possible. As the epidemic gathers pace, care teams in the badly hit east of the country have been sharing their experiences of how they made tough decisions on who should and should not be given precious intensive care beds. For some patients, such treatment may be both pointless and cruel, argued Professor Olivier Guerin, who heads the French Gerontology and Geriatrics Society (SFGG).


  • Coronavirus: Australia launches criminal investigation into Ruby Princess

    Coronavirus: Australia launches criminal investigation into Ruby PrincessPassengers from the Ruby Princess disembarked in Sydney without knowing the coronavirus was on board.


  • How one Silicon Valley factory keeps running in the age of coronavirus

    How one Silicon Valley factory keeps running in the age of coronavirusOne customer is now rushing to build ventilators that might use printed circuit boards made by Green Circuits. "The defense customers were the first to let us know" that they had to keep producing, said Joseph O'Neil, the company's chief executive officer. The company, owned by the Dallas-based private equity firm Evolve Capital, always had the first and second shifts overlap for a half-hour.


  • How one Silicon Valley factory keeps running in the age of coronavirus

    How one Silicon Valley factory keeps running in the age of coronavirusOne customer is now rushing to build ventilators that might use printed circuit boards made by Green Circuits. "The defense customers were the first to let us know" that they had to keep producing, said Joseph O'Neil, the company's chief executive officer. The company, owned by the Dallas-based private equity firm Evolve Capital, always had the first and second shifts overlap for a half-hour.


  • Obamacare's health care protections face first true test in coronavirus crisis

    Obamacare's health care protections face first true test in coronavirus crisisMore Americans became protected against catastrophic health costs, but gains now at risk as unemployment soars.


  • Coronavirus is closing daycare. Child care providers worry they may never reopen

    Coronavirus is closing daycare. Child care providers worry they may never reopenThe U.S. child care “system” has long been at a breaking point. Coronavirus could mean providers stay closed forever -- a crisis for working parents.


  • What Is Vp's (LON:VP.) P/E Ratio After Its Share Price Tanked?

    What Is Vp's (LON:VP.) P/E Ratio After Its Share Price Tanked?Unfortunately for some shareholders, the Vp (LON:VP.) share price has dived 32% in the last thirty days. That drop has...


  • India curbs diagnostic testing kit exports as virus spreads

    India curbs diagnostic testing kit exports as virus spreadsIndia is restricting the export of most diagnostic testing kits, as coronavirus cases in the South Asian nation topped 3,350 on Sunday despite a three-week nationwide lockdown to slow the spread of the respiratory disease. India, which in recent weeks already banned the export of certain drugs, along with ventilators, masks and other protective gear needed by both patients and medical staff, issued the latest directive on Saturday. The move comes even as U.S. President Donald Trump urged Prime Minister Narendra Modi in a phone call on Saturday, to release supplies of anti-malaria drug hydroxychloroquine, which is being tested as a possible treatment for patients with COVID-19 - the disease caused by the coronavirus.


  • Coronavirus: Trump predicts ‘a lot of death’ as cases pass 300,000

    Coronavirus: Trump predicts ‘a lot of death’ as cases pass 300,000The US president predicts "a lot of death" but suggests easing social-distancing rules for Easter.


  • Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts

    Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts(Bloomberg) -- Saudi Aramco is delaying the release of its closely-watched monthly oil-pricing list until later this week as the kingdom spars with Russia over a potential meeting of global producers that would aim to halt the collapse in crude.Aramco is now set to announce its official selling prices for May by Thursday, according to a person with knowledge of the situation who asked not to be identified because the information is private. The OSPs, as the prices are known, were due to be published on Sunday.The state oil giant is delaying the announcement to await signs of what may happen at a meeting planned for Thursday at which suppliers would discuss crude production amid a collapse in demand due to the coronavirus. Saudi-Russian diplomatic barbs are opening a fresh rift between the world’s two largest oil exporters and jeopardizing a deal to cut output and keep crude from tumbling further. Benchmark Brent crude has plunged 48% this year.Aramco’s media office declined to comment on the delay.The coalition known as OPEC+ had curbed production since 2017, but limits on its members’ output expired at the end of March after Saudi Arabia failed to persuade Russia to accept deeper cuts. With the Saudis now ramping up production to record levels, U.S. President Donald Trump has said suppliers are open to reducing production once again to take 10 million to 15 million barrels of unwanted crude off the market.The debate over new production cuts poses a challenge for the world’s most valuable listed company as it tries to decide how to price its crude. By delaying its announcement, Aramco can better gauge the amount of oil it may have available to sell next month. The postponement would also give it time to deepen its price discounts should an OPEC+ deal fall apart, as Aramco is competing for sales in a glutted market.The kingdom’s energy ministry dictates Saudi oil output, so any decision by the Organization of Petroleum Exporting Countries, Russia and other producers would determine the amount of crude that Aramco can offer customers.Refiners and traders expect Aramco to cut pricing for May due to the collapse in demand. The delay could be interpreted as an effort to put the global price war on hold and give countries more room to negotiate reductions in output.This is the second consecutive time that Aramco has delayed its key pricing announcement beyond its traditional deadline of releasing the numbers by the 5th day of each month. When it comes, the decision may affect about 14 million barrels a day of exports from the Persian Gulf because other producers in the region often follow Aramco’s lead in setting prices for their own shipments.(Updates with Aramco no comment in second paragraph; adds oil-price graph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts

    Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts(Bloomberg) -- Saudi Aramco is delaying the release of its closely-watched monthly oil-pricing list until later this week as the kingdom spars with Russia over a potential meeting of global producers that would aim to halt the collapse in crude.Aramco is now set to announce its official selling prices for May by Thursday, according to a person with knowledge of the situation who asked not to be identified because the information is private. The OSPs, as the prices are known, were due to be published on Sunday.The state oil giant is delaying the announcement to await signs of what may happen at a meeting planned for Thursday at which suppliers would discuss crude production amid a collapse in demand due to the coronavirus. Saudi-Russian diplomatic barbs are opening a fresh rift between the world’s two largest oil exporters and jeopardizing a deal to cut output and keep crude from tumbling further. Benchmark Brent crude has plunged 48% this year.Aramco’s media office declined to comment on the delay.The coalition known as OPEC+ had curbed production since 2017, but limits on its members’ output expired at the end of March after Saudi Arabia failed to persuade Russia to accept deeper cuts. With the Saudis now ramping up production to record levels, U.S. President Donald Trump has said suppliers are open to reducing production once again to take 10 million to 15 million barrels of unwanted crude off the market.The debate over new production cuts poses a challenge for the world’s most valuable listed company as it tries to decide how to price its crude. By delaying its announcement, Aramco can better gauge the amount of oil it may have available to sell next month. The postponement would also give it time to deepen its price discounts should an OPEC+ deal fall apart, as Aramco is competing for sales in a glutted market.The kingdom’s energy ministry dictates Saudi oil output, so any decision by the Organization of Petroleum Exporting Countries, Russia and other producers would determine the amount of crude that Aramco can offer customers.Refiners and traders expect Aramco to cut pricing for May due to the collapse in demand. The delay could be interpreted as an effort to put the global price war on hold and give countries more room to negotiate reductions in output.This is the second consecutive time that Aramco has delayed its key pricing announcement beyond its traditional deadline of releasing the numbers by the 5th day of each month. When it comes, the decision may affect about 14 million barrels a day of exports from the Persian Gulf because other producers in the region often follow Aramco’s lead in setting prices for their own shipments.(Updates with Aramco no comment in second paragraph; adds oil-price graph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • What Is SThree's (LON:STEM) P/E Ratio After Its Share Price Tanked?

    What Is SThree's (LON:STEM) P/E Ratio After Its Share Price Tanked?Unfortunately for some shareholders, the SThree (LON:STEM) share price has dived 35% in the last thirty days. The...


  • Biggest Arab Economies Hit by Virus With Record Declines in Gulf

    Biggest Arab Economies Hit by Virus With Record Declines in Gulf(Bloomberg) -- Three of the biggest Arab economies buckled in March after transportation seized up and hundreds of thousands of businesses shut down to slow the spread of the coronavirus.Business conditions in the United Arab Emirates worsened at a record pace and dropped at the fastest in over a decade in Saudi Arabia after emergency steps were taken. Egypt’s non-oil private sector recorded its deepest contraction in over three years, according to reports released on Sunday.IHS Markit’s gauge tracking operating conditions in Saudi Arabia’s non-oil private sector dropped below the threshold of 50 that separates growth from contraction for the first time since the survey began in August 2009, to 42.4. Its U.A.E. Purchasing Managers’ Index fell to 45.2, the lowest ever. Egypt’s PMI slipped to 44.2 from 47.1 in February, retreating for an eighth month.The non-oil economies of the energy-rich Gulf states are likely going in reverse this year, shrinking in the case of Saudi Arabia for the first time in more than three decades, after the one-two punch of collapsing crude prices and the health emergency.Other highlights from the reports:In the U.A.E., the new orders sub-component fell at the fastest pace on record “to indicate a substantial drop in new business at U.A.E. non-oil companies,” according to IHS MarkitU.A.E. firms lowered employment for a third month, with the latest decrease the sharpest everEgyptian export volumes dropped at the quickest pace in over seven years and employment in the non-oil sector fell for the fifth monthNew business volumes and export sales by Saudi firms slumped at survey-record pacesStaffing numbers in Saudi Arabia “dropped only slightly in March, which contrasted with the steep falls in output, new work and business confidence”Although the reports already laid bare the extent of economic damage in the Middle East, IHS Markit said its survey data for Saudi Arabia and Egypt were collected March 12-23. The pandemic has shown little sign of easing since.Saudi Arabia, the U.A.E. and Egypt have reported nearly 5,000 virus cases, with over 100 deaths in total. Businesses and travel across the region are in lockdown.The Gulf’s commercial hub, Dubai, imposed further restrictions on the movement of people and halted metro services. A program to clean the streets will be extended to 24 hours for two weeks from Saturday, while supermarkets, pharmacies and food delivery services will continue operating.Egypt’s government has curbed economic growth projections for the current and upcoming fiscal year to reflect the potential impact of the virus.Egyptian authorities have introduced a host of measures, including debt deferral for businesses and individuals, while the central bank last month cut the benchmark rate by 300 basis points. The hope is that the emergency response will help stave off further pain for Egypt’s economy, which had been on course for revival as a result of an International Monetary Fund-backed economic program launched in 2016.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Here's What Judges Scientific plc's (LON:JDG) P/E Is Telling Us

    Here's What Judges Scientific plc's (LON:JDG) P/E Is Telling UsThis article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...


  • 'Complete collapse of economies' ahead as Africa faces virus

    'Complete collapse of economies' ahead as Africa faces virusSome of Uganda’s poorest people used to work here, on the streets of Kampala, as fruit sellers sitting on the pavement or as peddlers of everything from handkerchiefs to roasted peanuts. Now they're gone and no one knows when they will return, victims of a global economic crisis linked to the coronavirus that could wipe out jobs for millions across the African continent, many who live hand-to-mouth with zero savings.


  • Small businesses worry coronavirus loans ‘too risky’

    Small businesses worry coronavirus loans ‘too risky’Owners of small businesses tell the BBC they still have concerns about the government’s loan scheme.


  • China's Luckin Coffee says business will continue amid financial fraud probe

    China's Luckin Coffee says business will continue amid financial fraud probeLuckin Coffee Inc said on Sunday it will maintain normal operations at its stores and apologised to the public, days after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals. Shares of Luckin, which competes in China with Starbucks Corp, sank as much as 81% on Thursday in New York after it said the investigation had found that fabricated sales from the second quarter of 2019 to the fourth were about 2.2 billion yuan ($310 million). "Regarding the suspected financial fraud and the extremely bad impact it has caused, Luckin Coffee hereby sincerely apologizes to the public," the company said in a post on its official Weibo account.


  • Factors Income Investors Should Consider Before Adding Nilörngruppen AB (STO:NIL B) To Their Portfolio

    Factors Income Investors Should Consider Before Adding Nilörngruppen AB (STO:NIL B) To Their PortfolioCould Nilörngruppen AB (STO:NIL B) be an attractive dividend share to own for the long haul? Investors are often drawn...


  • Downgrade: Here's How Analysts See International Consolidated Airlines Group, S.A. (LON:IAG) Performing In The Near Term

    Downgrade: Here's How Analysts See International Consolidated Airlines Group, S.A. (LON:IAG) Performing In The Near TermToday is shaping up negative for International Consolidated Airlines Group, S.A. (LON:IAG) shareholders, with the...


  • Should You Like InnovaDerma PLC’s (LON:IDP) High Return On Capital Employed?

    Should You Like InnovaDerma PLC’s (LON:IDP) High Return On Capital Employed?Today we'll look at InnovaDerma PLC (LON:IDP) and reflect on its potential as an investment. Specifically, we're going...


  • Save money with great TurboTax and H&R Block deals from Amazon and Walmart

    Save money with great TurboTax and H&R Block deals from Amazon and WalmartTax doesn't need to stress you out when you use the right tax software tool. Here are the best deals for tax return software right now.


  • Does Knowit (STO:KNOW) Have A Healthy Balance Sheet?

    Does Knowit (STO:KNOW) Have A Healthy Balance Sheet?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...


  • Should Income Investors Look At 4imprint Group plc (LON:FOUR) Before Its Ex-Dividend?

    Should Income Investors Look At 4imprint Group plc (LON:FOUR) Before Its Ex-Dividend?4imprint Group plc (LON:FOUR) stock is about to trade ex-dividend in 3 days time. You will need to purchase shares...


  • Queen Will Seek to Calm U.K. Over Virus in Address to Nation

    Queen Will Seek to Calm U.K. Over Virus in Address to Nation(Bloomberg) -- Queen Elizabeth II will strike an optimistic note about Britain’s response to the global coronavirus crisis in an address to be broadcast Sunday, according to excerpts from the speech reported by the BBC and others.“I hope in the years to come everyone will be able to take pride in how they responded to this challenge,” the Queen will say in a pre-recorded address to the U.K. and Commonwealth nations, according to the BBC. “And those who come after us will say that the Britons of this generation were as strong as any.”The Queen will thank National Health Service staff and other key workers tackling the pandemic. Other than her annual Christmas address, the Queen rarely makes such public pronouncements. The speech, which will air at 8 p.m. local time, was recorded at Windsor Castle by a single cameraman wearing personal protective equipment and keeping a safe distance from the monarch, according to the BBC.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Don't Race Out To Buy EMIS Group plc (LON:EMIS) Just Because It's Going Ex-Dividend

    Don't Race Out To Buy EMIS Group plc (LON:EMIS) Just Because It's Going Ex-DividendSome investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...


  • News Flash: One Harvest Minerals Limited (LON:HMI) Analyst Has Been Trimming Their Revenue Forecasts

    News Flash: One Harvest Minerals Limited (LON:HMI) Analyst Has Been Trimming Their Revenue ForecastsMarket forces rained on the parade of Harvest Minerals Limited (LON:HMI) shareholders today, when the covering analyst...


  • Interested In Direct Line Insurance Group plc (LON:DLG)’s Upcoming 5.6% Dividend? You Have 3 Days Left

    Interested In Direct Line Insurance Group plc (LON:DLG)’s Upcoming 5.6% Dividend? You Have 3 Days LeftSome investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...


  • Interested In Bioventix PLC (LON:BVXP)’s Upcoming 1.0% Dividend? You Have 3 Days Left

    Interested In Bioventix PLC (LON:BVXP)’s Upcoming 1.0% Dividend? You Have 3 Days LeftRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Bioventix...


  • Do You Know About Indutrade AB (publ)’s (STO:INDT) ROCE?

    Do You Know About Indutrade AB (publ)’s (STO:INDT) ROCE?Today we are going to look at Indutrade AB (publ) (STO:INDT) to see whether it might be an attractive investment...


  • Corona Distributor Beats Quarterly Sales, Profit Estimates Fueled by Mexican Beer Demand

    Corona Distributor Beats Quarterly Sales, Profit Estimates Fueled by Mexican Beer DemandConstellation Brands Inc (STZ), the U.S. distributor of Corona beer reported better-than-estimated fourth-quarter profits and sales driven by demand for Corona Fresca, Corona Premier and Modelo Especial beers.This comes after news on Thursday that Corona will stop production, as the Mexican government deemed breweries as an unessential business. The alcohol beverage giant said sales in the fourth quarter ended February rose 6% to $1.9 billion beating estimates of about $1.8 billion. The company saw earnings of $2.06 per share surpassing estimates of $1.64 EPS.Net income fell to $398 million, or $2.04 a share, from $1.24 billion, or $5.87 a share, in the year-earlier period.“You see a lot of channel shift, and you see this in many recessionary environments,” Bill Newlands, President and Chief Executive Officer said in a CNBC interview on Friday. “This one, admittedly, is a bit uncharted because one piece is really closed, which is the on-premise [consumption], as you know, but you do see channel shifting and you see people buying more and you see them consuming it at home.”Despite the solid results and positive outlook, Constellation Brands pulled its fiscal year 2021 guidance, citing the uncertainty surrounding the impact of coronavirus pandemic on its operations. Chief Financial Officer Garth Hankinson said the company has "significant" capacity under its $2 billion revolving credit buffers and plans to carefully manage its debt position over the next 24 months.Wall Street analysts have a Moderate Buy consensus rating for the stock based on 10 Buys and 6 Holds. The $197.80 average price target puts the upside potential at 55% in the coming year. (See Constellation Brands’ stock analysis on TipRanks)   Constellation Brands said that it made repurchases of about 266,000 shares of common stock generating $50 million in fiscal 2020. In addition, debt reduction amounted to more than $1.4 billion during the same year.Related Links: Are Lockdowns Working? Google Offers Location Data to Help Pandemic Fight 3 “Strong Buy” Stocks With Double-Digit Upside — At Least According to Needham 3 Cannabis Stocks Set to Thrive Through the Global Shutdown More recent articles from Smarter Analyst: * Warren Buffet’s Berkshire Hathaway Divests Delta, Southwest Airlines Stock * Microsoft Partners With Website Navigation Startup WalkMe For Sales Software * Are Lockdowns Working? Google Offers Location Data to Help Pandemic Fight * 5-Star Analyst Reiterates Bullish Stance on Lyft Stock; Here's Why


  • UAE doubles stimulus to counter coronavirus impact

    UAE doubles stimulus to counter coronavirus impactThe Central Bank of the United Arab Emirates said Sunday it has doubled to $70 billion a stimulus package to support the Gulf state's economy amid the coronavirus pandemic. "The aggregate value of all capital and liquidity measures adopted by the CBUAE since 14 March 2020 has reached 256 billion dirhams ($70 billion)," the central bank said in a statement. Last month, oil-rich UAE announced stimulus worth $35 billion that included aid to the banking system, facilities for loans and injecting funds into the bourses.


  • Begbies Traynor Group plc (LON:BEG) Goes Ex-Dividend In 3 Days

    Begbies Traynor Group plc (LON:BEG) Goes Ex-Dividend In 3 DaysReaders hoping to buy Begbies Traynor Group plc (LON:BEG) for its dividend will need to make their move shortly, as...


  • The Latest: Thai Muslim group suspends guerilla activity

    The Latest: Thai Muslim group suspends guerilla activity


  • AP PHOTOS: Bustling London life stilled by COVID-19 lockdown

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    Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift(Bloomberg) -- President Donald Trump ramped up threats to use tariffs to protect the U.S. energy industry from a historic glut of oil, as efforts to forge a global deal to cut output appeared to lose momentum.Trump said Saturday at a White House press briefing he’d use tariffs if needed to protect the domestic oil industry, even as he predicted that Saudi Arabia and Russia would come to an agreement to cut output and stem the rout in prices.But such a deal looked a bit further from reach at the weekend after a diplomatic row between Saudi Arabia and Russia. A gathering of OPEC+ members and other producers scheduled for Monday was pushed back, to give more time for negotiations.Saudi Arabia, which launched a price war last month with Russia after OPEC+ talks broke down, has made clear that it won’t cut production unless other producers -- including the U.S. -- also hold back supply. But Trump said on Saturday: “I don’t care about OPEC,” a “cartel” he’s opposed all his life.The prospect of a deal to reduce the massive glut of oil caused by the coronavirus lockdown sent benchmark oil futures to a record gain last week. Oil prices have fallen about 50% this year as the pandemic has knocked out as much as a third of global oil demand. That means producers are going to have to reduce output eventually -- with or without a deal -- as storage both on land and at sea fills up.In the latest maneuver in the price war, Saudi Arabia postponed on Sunday its monthly price-setting event for exported oil. Saudi Aramco’s official selling prices for May could be pushed to Tuesday or Thursday, according to a person familiar with the situation. The OPEC meeting has been tentatively rescheduled for Thursday.The move allows the company to have a better idea of how negotiations are going before setting the prices that are its key weapon in its war with Russia for market share. Last month, it also postponed the event in the midst of wrangling at OPEC+ and responded to the breakdown in those talks with a historic price cut.On the idea of slapping tariffs on foreign oil, the U.S. oil industry is split. Some independent shale producers -- who’ve been hardest hit by the recent market slump -- are in support, while refiners and large integrated companies are typically opposed.The American Petroleum Institute, which helped arrange a meeting with the president on Friday, argues tariffs would inject uncertainty into an already rattled global marketplace.“If I have to do tariffs on oil coming from outside, or if I have to do something to protect thousands and tens of thousands of energy workers, and our great companies that produce all these jobs, I’ll do whatever I have to do,” Trump said Saturday. Low oil prices are “going to hurt a lot of jobs,” he said.That was a change in tone from Friday, when he suggested he wasn’t inclined to target Russia or Saudi Arabia with oil tariffs.Hundreds of thousands of U.S. oil industry jobs are hanging in the balance, with about $15 billion of investments wiped out from the budgets of shale explorers and many of them on the brink of bankruptcy.(Adds Saudi decision to delay pricing event from the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift

    Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift(Bloomberg) -- President Donald Trump ramped up threats to use tariffs to protect the U.S. energy industry from a historic glut of oil, as efforts to forge a global deal to cut output appeared to lose momentum.Trump said Saturday at a White House press briefing he’d use tariffs if needed to protect the domestic oil industry, even as he predicted that Saudi Arabia and Russia would come to an agreement to cut output and stem the rout in prices.But such a deal looked a bit further from reach at the weekend after a diplomatic row between Saudi Arabia and Russia. A gathering of OPEC+ members and other producers scheduled for Monday was pushed back, to give more time for negotiations.Saudi Arabia, which launched a price war last month with Russia after OPEC+ talks broke down, has made clear that it won’t cut production unless other producers -- including the U.S. -- also hold back supply. But Trump said on Saturday: “I don’t care about OPEC,” a “cartel” he’s opposed all his life.The prospect of a deal to reduce the massive glut of oil caused by the coronavirus lockdown sent benchmark oil futures to a record gain last week. Oil prices have fallen about 50% this year as the pandemic has knocked out as much as a third of global oil demand. That means producers are going to have to reduce output eventually -- with or without a deal -- as storage both on land and at sea fills up.In the latest maneuver in the price war, Saudi Arabia postponed on Sunday its monthly price-setting event for exported oil. Saudi Aramco’s official selling prices for May could be pushed to Tuesday or Thursday, according to a person familiar with the situation. The OPEC meeting has been tentatively rescheduled for Thursday.The move allows the company to have a better idea of how negotiations are going before setting the prices that are its key weapon in its war with Russia for market share. Last month, it also postponed the event in the midst of wrangling at OPEC+ and responded to the breakdown in those talks with a historic price cut.On the idea of slapping tariffs on foreign oil, the U.S. oil industry is split. Some independent shale producers -- who’ve been hardest hit by the recent market slump -- are in support, while refiners and large integrated companies are typically opposed.The American Petroleum Institute, which helped arrange a meeting with the president on Friday, argues tariffs would inject uncertainty into an already rattled global marketplace.“If I have to do tariffs on oil coming from outside, or if I have to do something to protect thousands and tens of thousands of energy workers, and our great companies that produce all these jobs, I’ll do whatever I have to do,” Trump said Saturday. Low oil prices are “going to hurt a lot of jobs,” he said.That was a change in tone from Friday, when he suggested he wasn’t inclined to target Russia or Saudi Arabia with oil tariffs.Hundreds of thousands of U.S. oil industry jobs are hanging in the balance, with about $15 billion of investments wiped out from the budgets of shale explorers and many of them on the brink of bankruptcy.(Adds Saudi decision to delay pricing event from the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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  • Aramco Recovers to IPO Level as Payout Pledge Survives Price War

    Aramco Recovers to IPO Level as Payout Pledge Survives Price War(Bloomberg) -- Saudi Aramco shares have shaken off the ravages of an oil-price war to regain the company’s $1.7 trillion valuation achieved in its record-breaking initial public offering.The stock rose as much as 2.8% to 32.55 Saudi riyals on Sunday in Riyadh, trading above the 32 riyals IPO level it surrendered a month ago. The slump reflects a dispute over production levels between Saudi Arabia and Russia.Aramco shares retreated as much as 27% from a peak in December to the low plumbed last month, also dragged down by a decline in global crude oil demand as governments locked down economies to fight the coronavirus.Saudi Aramco is at the center a price fight between the kingdom and Russia. The Saudi oil giant delayed the release of its key monthly oil pricing list that was due on Sunday until later this week. That will allow it to wait for an indication on what may happen at an OPEC+ meeting planned for Thursday to discuss crude production levels.Oil posted a record weekly jump last week on hopes that global producers will agree historic output cuts.Even though Brent has slumped almost 50% this year, Aramco said March 16 it still intends to distribute at least $75 billion to shareholders in 2020. It has outperformed oil majors such as Total SA and BP Plc, which are part of a wider group also retaining hefty payouts.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Microsoft Partners With Website Navigation Startup WalkMe For Sales Software

    Microsoft Partners With Website Navigation Startup WalkMe For Sales SoftwareMicrosoft Corp. (MSFT) announced a strategic partnership with WalkMe to help companies and its employees work more efficiently from home, while deploying the tech giant’s sales software Dynamics 365.Microsoft is teaming up with WalkMe as employees worldwide are now working from home, making traditional training and onboarding ineffective. Under the terms of the partnership, WalkMe's platform will enable the creation of interactive, on-screen sequences to guide and engage users on Microsoft’s sales software Dynamics 365.Israeli-based startup WalkMe adds a layer of on-screen navigation guidance prompts on top of existing websites, helping users navigate through web pages. The startups’ platform helps employees figure out how to use software with step-by-step instructions and intuitive reminders."As organizations across the globe are coping with a new business reality of an entire remote workforce, embracing the adoption of business technology across the organization is the only way to empower their employees to effectively utilize their daily technology stack,” said Dan Adika, CEO and Co-Founder of WalkMe. "Through this strategic partnership with Microsoft, it will be easier than ever for sales to increase productivity and efficiency and to realize the full potential of Dynamics 365 within their technology stack, at scale."Five-star analyst Michael Turits at Raymond James last week cut Microsoft’s price target  to $183 from $200 while maintaining a Buy rating.Wall Street analysts have a Strong Buy consensus rating for Microsoft based on 26 Buys and 1 Hold assigned in the last three months. The $193.08 average price target provides investors with 26% gain in the shares should it be met in the coming 12 months. (Microsoft's stock analysis on TipRanks)Related News: Amazon (AMZN) Stock Is One of the Best Investments to Make, Says 5-Star Analyst Microsoft to Sell Stake in AnyVision Start-Up, End Facial Recognition Investment The Good, the Bad & the Ugly for Intel Stock More recent articles from Smarter Analyst: * Warren Buffet’s Berkshire Hathaway Divests Delta, Southwest Airlines Stock * Corona Distributor Beats Quarterly Sales, Profit Estimates Fueled by Mexican Beer Demand   * Are Lockdowns Working? Google Offers Location Data to Help Pandemic Fight * 5-Star Analyst Reiterates Bullish Stance on Lyft Stock; Here's Why


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