Tuesday, September 21

REU

PMN Business, REU

Soybeans trim back on improved US crop conditions

Article contentCHICAGO — Chicago soybean futures fell on Tuesday, despite renewed exports to China, after the US Agriculture Department issued better-than-expected weekly crop ratings.Corn also eased on better-than-expected crop conditions and favorable US weather as traders eyed record yield potential this fall.The Chicago Board of Trade's most active soybean contract fell 6-1/2 cents to close at $8.96-1/2 per bushel.CBOT corn was down 5-1/2 cents to close at $3.22-3/4 a bushel and wheat added 5-3/4 cents to $5.27-3/4 a bushel.In its weekly crop report after markets closed on Monday, the US Department of Agriculture rated 69% of soybeans in good-to-excellent condition, up from 68% last week. Analysts had expected 67%.China booked 126,000 tonnes of US soybeans for delivery in the 2020/2...
PMN Business, REU

EU reaches historic deal on pandemic recovery after fractious summit

Article contentBRUSSELS — European Union leaders clinched an historic deal on a massive stimulus plan for their coronavirus-throttled economies in the early hours of Tuesday, after a fractious summit lasting almost five days.The agreement paves the way for the European Commission, the EU's executive, to raise billions of euros on capital markets on behalf of all 27 states, an unprecedented act of solidarity in almost seven decades of European integration.Summit chairman Charles Michel called the accord, reached at a 5.15 am (0315 GMT), a pivotal moment for Europe.Many had warned that a failed summit amid the coronavirus pandemic would have put the bloc's viability in serious doubt after years of economic crisis and Britain's recent departure.World shares climbed to their highest since F...
PMN Business, PMN Technology, REU

Nvidia partners with University of Florida to build AI supercomputer

Article contentNvidia Corp and the University of Florida have partnered to build the world's fastest artificial intelligence based-supercomputer in higher education, the chipmaker said on Tuesday.The $70 million project comprises a $25 million gift from the company that includes hardware, software as well as training in addition to $45 million from the university and its alumnus Chris Malachowsky, who co-founded Nvidia.The university will also enhance its current supercomputer, HiPerGator, with Nvidia chips and have it functional by early 2021.Nvidia was long known as a supplier of graphics chips for personal computers to make video games look more realistic, but researchers now also use its chips inside data centers to speed up artificial intelligence computing work such as training co...
PMN Business, REU

Boeing 737 MAX not expected to fly before October, FAA preparing directive

Article contentWASHINGTON — The Federal Aviation Administration (FAA) said on Tuesday it plans to issue a proposed airworthiness directive for the Boeing 737 MAX in the “near future” to address changes made since the plane was grounded in March 2019 after two fatal crashes killed 346 people .An official briefed on the matter told Reuters that the FAA is unlikely to unground the 737 MAX before sometime in October. Boeing Co has said it expects to resume deliveries before Sept. 30 following regulatory approval.Boeing spokesman Gordon Johndroe said the schedule for the jet's return to service will be determined by regulators."Boeing is working closely with the FAA and other international regulators to meet their expectations as we work to safely return the 737 MAX to service," Johndroe sai...
PMN Business, REU

Soybeans slide on improved US crop conditions

Article contentCHICAGO — Chicago soybean futures fell on Tuesday, despite renewed exports to China, after the US Agriculture Department issued better-than-expected weekly crop ratings.Corn also eased on better-than-expected crop conditions as traders eye record yield potential this fall. Wheat, meanwhile, rose as a weaker US dollar made the crop more competitive on the world export market.The Chicago Board of Trade's most active soybean contract fell 6-1/2 cents to $8.96-1/2 per bushel by 11:42 am (1642 GMT).CBOT corn was down 5-1/2 cents at $3.22-3/4 a bushel and wheat added 7-1/4 cents to $5.29-1/4 a bushel.In its weekly crop report after markets closed on Monday, the US Department of Agriculture rated 69% of soybeans in good-to-excellent condition, up from 68% last week. Analysts had...
PMN Business, REU

Airlines ask EU, White House to adopt COVID-19 testing program for passengers

Article contentWASHINGTON — Major US and European Union airlines asked the EU and White House on Tuesday to consider a joint US-EU program to test airline passengers for COVID-19 as a way to allow people to travel once again between the United States and Europe.In a letter to US Vice President Mike Pence and Ylva Johansson, the European Commissioner for Home Affairs, the chief executives of American Airlines, United Airlines, Lufthansa and International Airlines Group requested “the safe and swift restoration of air travel between the United States and Europe."Nearly all Europeans are currently barred from traveling to the United States and similar restrictions are in place for Americans seeking to travel to most of the EU because of the coronavirus pandemic."We recognize that testing p...
PMN Business, PMN Economy, REU

Chevron’s $5 bln deal for Noble ends deal drought, sets price benchmark

Article content continuedUS producers spent only $3.4 billion on company and land deals in the first six months of the year, turning away from buying assets as oil prices fell.Bankers and analysts said consolidation is needed to save many smaller players and that more deals will be paid for in stock alone, mirroring a number of buys last year.Noble's $13 billion price tag puts it among the five biggest deals since 2013 and brings with it holdings that include deepwater and natural gas assets, as well as shale plays in the Permian Basin, the top US oilfield."Permian is still one place where buyers in the basin, probably don't have enough, or not in the basin and want to get in," said Vidisha Prasad, managing partner of upstream-focused energy consulting firm Adya Partners.RBC Capital Mar...
PMN Business, REU

Nissan proposes postponing Barcelona plant closures by six months to June 2021

Article contentBARCELONA — Nissan Motor Co. is proposing to postpone the closure of its three Barcelona plants to June 2021 from December 2020, the head of the carmaker's industrial operations in Spain, Frank Torres, said on Tuesday.However, he said the company would have to stick to its original schedule if negotiations with unions do not advance.The decision to shut its three Barcelona plants and lay off around 3,000 workers was announced in May as part of a turnaround plan, triggering protests by workers and a commitment by Madrid to do all it can to convince the company to stay. (Reporting by Joan Faus; Writing by Nathan Allen; Editing by Mark Potter) business.financialpost.com