BP cuts up to $17.5 billion from assets’ value with bleaker oil outlook
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.
Futures drop on fears of fresh virus wave
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.
Oil falls on growing fears of coronavirus second wave
Oil prices fell on Monday as new coronavirus infections hit China and the United States, adding to concerns that a resurgence of the virus could hamper economic recovery and fuel demand.
SoftBank buybacks pick up in June; $4.7 billion spent in total
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.
BPER sees cash call of 600-700 million euro to fund new Intesa deal: sources
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.
Commerzbank preparing to make more job cuts: board member
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.
H&M says recovery uneven after March-May sales tumble 50%
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.
Oil falls on growing fears of a second wave of coronavirus
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.
Virus second-wave fears rattle markets, stocks fall
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.
Analysts’ view: Market jitters over second COVID-19 wave are an overdue pullback
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.
