While U.S. crude supplies have experienced a steady decline in recent times, oil has managed to retain its eight-month market highs. While an Energy Information Administration report showed a 754,000 decline in crude barrels last week, oil futures rose by 1.8% on the New York Stock Exchange.
These enduring highs...
After a 17% surge on Tuesday that resulted in a two-month high, hydrogen vehicle manufacturer Nikola suffered a 15% decrease in stock prices as markets came to a close. The Phoenix-based firm enjoyed a significant rise over the past few weeks in line with the electric vehicle market.
Nikola’s late...
With the likes of Pfizer and Moderna leading in the race to a coronavirus vaccine, AstraZeneca shares have dropped by 3% following the company’s announcement that its vaccine candidate has proven to be 70% effective. This figure is significantly lower than that of Pfizer and Moderna.
In its phase 3...
With Moderna expected to soon file its COVID-19 vaccine for emergency use in the United States, the biotech company decided to sell $1.74 million worth of new shares. The Cambridge, Massachusetts-based company will be the second firm to file for emergency use of its vaccine, the first being Pfizer...
Earlier this month, Royal Dutch Shell plc decided to shut down operations at its Convent refinery in Louisiana—a move that will result in a loss of 700 jobs. This is just one American refinery that has been shut down as a result of shifts in the oil-refining industry stemming...
With the market for electric vehicles constantly expanding, London-based EV start-up Arrival Ltd has decided to enter the public market, announcing a reverse merger with special purpose acquisition company, CIIG Merger Corp, in a deal worth $5.4 billion.
Established just five years ago, Arrival Ltd has differentiated itself from competing...
Canadian security firm GardaWorld has confirmed that it has extended its offer to purchase G4S Plc after its significantly larger UK-based rival rejected several of its previous offers. The Canadian firm revealed in a statement that its latest offer will remain valid until November 28.
Gardaworld’s previous offer valuing G4S...
Rivian, an electric-vehicle startup backed by Amazon and Ford Motor Co, announced on Wednesday its intention to produce smaller electric vehicles in an effort to target EV markets across Europe and China, where it may begin manufacturing efforts sometime in the future.
This comes after the company released two new...
Following positive reports regarding the development of coronavirus vaccine candidates by the likes of Pfizer and Moderna, oil stocks have risen to their highest levels since early September. Futures, in particular, enjoyed a significant rise of 2.5% on Wednesday.
The surge in share prices mostly came as a result of...
Warren Buffet’s conglomerate holding company Berkshire Hathaway Inc announced on Monday that it would be focusing its investment habits on four major pharmaceutical companies. This comes after the industry enjoyed positive press following the announcements of effective COVID-19 vaccine candidates from the likes of Moderna, Pfizer, and BioNTech.
James Armstrong,...