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Economy

Thursday also saw a successful debut by US video conferencing firm Zoom Video Communications, which soared 80 percent above its IPO price of $36. At 19 US dollars per share, Pinterest, which offers advertisers a venue to sell to consumers, raised around 1.4 billion USA dollars at a roughly 12.7 billion US dollars valuation.
  • Chevron doubles down with $33 bln Anadarko swoop

    Chevron doubles down with $33 bln Anadarko swoop

    Economy

    Still, investors sent Chevron shares down 5.2% to $119.44 yesterday. He has quickly shaken up the company by announcing an aggressive expansion plan for the Permian. Last month, Chevron had already announced plans to significantly grow its production in the Permian, where the USA supermajor has added nearly 7 billion barrels of resources and doubled its portfolio value over the past two years.
  • Tesla Raising Price of Its Full Self-Driving Option From May 1

    Tesla Raising Price of Its Full Self-Driving Option From May 1

    Economy

    The problem over Musk's tweets goes back to a settlement reached following Musk tweeted that he had secured the funds to take Tesla personal at $420 an share - a significant premium over the price at the period - when he did not. But Musk attorney John Hueston told the judge that the SEC had failed to show his client had violated the deal. Meanwhile, the Tesla's stocks are decreasing nearly 10% in early trading after the company stated it churns out 77,100 vehicles well behind the speed ...
  • Saudi oil cuts deeper than promised: IEA | ABS-CBN

    Saudi oil cuts deeper than promised: IEA | ABS-CBN

    Economy

    Output declines in OPEC because of the supply pact, plus the sanctions on Venezuela and Iran , have exceeded expectations. In fact, the sources had also revealed that the OPEC might even raise output from the beginning of third quarter of 2019, if Venezuelan and Iranian crude supply fall further and the crude oil prices keep surging.
  • Senator Predicts Cain's Nomination Will Be Withdrawn

    Senator Predicts Cain's Nomination Will Be Withdrawn

    Economy

    Romney, who faced Cain in the 2012 race, has been skeptical of his chances since Trump announced his plans to nominate him. "I worry that a perception that somehow politics is gaining a more important role in these decisions will undermine confidence in this nonpartisan institution", said Donald Kohn, a former Fed vice chair who spent more than 30 years at the central bank.
  • Gigafactory 1 expansion on ice?

    Gigafactory 1 expansion on ice?

    Economy

    Tesla shares fell as much as 4.7% to US$263.20 in pre-market United States trading yesterday. "We will of course continue to make new investments in Gigafactory 1, as needed", a Tesla spokesman said in an e-mailed statement. Panasonic has not made announcements about partnering with Tesla in Shanghai. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
  • Uber IPO: Former CEO Travis Kalanick to earn billions

    Uber IPO: Former CEO Travis Kalanick to earn billions

    Economy

    This valuation would put Uber's value more than double of FedEx and over four times that of United Airlines' parent. The registration will provide investors with their most complete look yet at Uber's financial and operational numbers and strong points of comparison to rival Lyft's IPO registration in March.
  • Oil prices fall with rising U.S. stocks, record output

    Oil prices fall with rising U.S. stocks, record output

    Economy

    An OPEC monthly report released on Wednesday showed that Venezuela's oil output sank last month to a long-term low below 1 million barrels per day (bpd), due to USA sanctions and blackouts . Goldman Sachs also said oil prices "will decline gradually from this summer as shale and OPEC production increases". The kingdom also self-reported production of 9.79 million bpd, its lowest since January 2017 and a fall of 350,000 bpd month on month.
  • Aramco bond sale to close Wednesday

    Aramco bond sale to close Wednesday

    Economy

    That would be the highest order book value since a record issuance by Qatar previous year, which attracted around $52 billion in orders. The investor clamour raised even more interest than the Kingdom's sovereign bond market debut in 2016, which drew offers worth more than $67bn, and trounced the $52bn interest in the $12bn deal offered by Gulf rival Qatar.
  • Mnuchin says request for Trump's tax returns is under review

    Mnuchin says request for Trump's tax returns is under review

    Economy

    Trump has said his returns are under audit and that he doesn't intend to turn anything over until that is finished. "The committee's request raises serious issues concerning the constitutional scope of Congressional investigative authority, the legitimacy of the asserted legislative goal, and the constitutional rights of American citizens", Mnuchin added in the letter.
  • May meeting Merkel and Macron to seal Brexit extension

    May meeting Merkel and Macron to seal Brexit extension

    Economy

    May met Chancellor Merkel in Berlin for around an hour and a half. The Commons Leader made the call after a senior German official said the United Kingdom must take "substantial steps" to break the Brexit stand-off. Labour leader Jeremy Corbyn says Theresa May won't compromise [Getty Images] Mr Corbyn added: "Talks have to mean a movement and so far there has been no change in those red lines".