Rioting breaks out in Venezuela amid 'attempted coup'

April 30, 2019@11:55 PM TFP Editor 0

Demonstrators clashed with police on the streets of the Venezuelan capital Tuesday, spurred by opposition leader Juan Guaido’s call on the military to rise up against President Nicolas Maduro — who said he had defeated an attempted coup. An apparently carefully planned attempt by Guaido to demonstrate growing military support disintegrated into rioting as palls of black smoke rose over eastern Caracas. “This will not go unpunished,” Maduro said in an address broadcast on television and the radio. Read on The Source

Oil prices fall on rising US stockpiles, but global markets remain tense

April 30, 2019@11:51 PM TFP Editor 0

Oil operations in the Permian Basin near Midland, Texas Nick Oxford | Reuters Oil prices fell on Wednesday after a report showed a rise in U.S. crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions on Iran, and ongoing OPEC supply cuts. Brent crude oil futures were at $71.59 per barrel at 0402 GMT, down 47 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 60 cents, or 0.9 percent, [Read More]

National Oilwell Varco Announces Second Quarter 2019 Conference Call

April 30, 2019@10:09 PM TFP Editor 0

HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) will hold a conference call to discuss its second quarter 2019 results on Tuesday, July 30, 2019 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Monday, July 29, 2019. The call will be webcast live on www.nov.com/investors. About NOV National Oilwell Varco (NYSE: NOV) is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field [Read More]

Asia Markets: Australian stocks rise, with most Asian markets closed for holiday

April 30, 2019@10:07 PM TFP Editor 0

Australian stocks rose in early trading Wednesday, the only major Asia-Pacific index open on a day that was a public holiday in most countries. Japan’s Nikkei remained closed as part of a 10-day holiday commemorating the installation of a new emperor, Naruhito, who was installed Wednesday, a day after his father officially abdicated. In Beijing, the U.S. and China resumed trade negotiations, with Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer leading the U.S. delegation. The two sides are reportedly close to a final [Read More]

Chinese Drugmaker Discloses $4.4 Billion Accounting Fraud

April 30, 2019@9:45 PM TFP Editor 0

It looks like China’s unstoppable default tsunami is about to claim its latest corporate victim…and thanks to lax oversight that allowed the company to get away with what appears to be a staggering accounting fraud, thousands of unsuspecting investors might be left holding the bag. According to Bloomberg, Kangmei Pharmaceutical Co., one of China’s largest listed drugmakers, revealed on Tuesday that it had overstated its cash holdings by $4.4 billion. Unsurprisingly, the revelation, which immediately exposed the company to be teetering on the brink of [Read More]