On Wednesday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), lost -4.42% to $8.65, together with other oil related stocks as crude prices fall following the release of data from the U.S. Energy Information Administration, according to Reuters.
Oil prices fell to session lows Wednesday after data showing an unpredictable build in U.S. oil stockpiles added to concerns over a global supply glut.
On the New York Mercantile Exchange, crude oil for August delivery was last down 2.81% to $57.75 a barrel, from around $58.27 ahead of the report.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of Verizon Communications Inc. (NYSE:VZ), inclined 0.84% to $47, during its last trading session.
Verizon Wireless welcomed excited visitors to its new Destination Store on Santa Monica’s Third Street Promenade, bringing the company’s supersized, hands-on lifestyle shopping approach to the West Coast for the first time.
Visitors explored fun, interactive “lifestyle zones,” ranging from fitness to music to sports and the home, trying out the latest personal and business wireless solutions.
“For our customers, there’s simply no other retail shopping experience like this in any industry,” said Luis Cruz, Verizon Southern California president. “From the innovative use of technology to create memorable, hands-on experiences, to the aesthetically pleasing design choices and artwork, our Santa Monica flagship store offers an engaging experience that’s sure to remind locals of the unique character of the community we share.”
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.
Finally, JD.com, Inc. (NASDAQ:JD), ended its last trade with -2.49% loss, and closed at $33.25.
JD.com, and ZestFinance, a US-based financial technology company, declared a contract to launch a joint venture (JV), called JD-ZestFinance Gaia, to support the development of consumer credit in China. The JV will leverage ZestFinance’s machine learning-based credit-decisioning technology and JD.com’s reservoir of consumer data to provide credit risk evaluation services to companies in China. Additionally, as part of the agreement, JD.com is making an investment in ZestFinance to assist fund further development of credit risk evaluation services for China and extend consumer access to credit.
“Chinese shoppers are hungry for convenient, reliable and fair credit channels,” said JD Finance CEO Shengqiang Chen. “This requires both a systematic method for making decisions and a robust infrastructure that enables lenders to share data — neither of which is sufficiently developed yet in China. Recent declaration with ZestFinance, a leader in consumer credit evaluation, is a foundational step toward building a reliable system for assessing credit risk that will assist meet the huge market need. We aim to be the single-stop solution for Chinese consumers to make all of their daily purchases, and this new JV with ZestFinance is another big step in our development.”
Lenders in China lack the data typically used in established markets to determine creditworthiness, as Chinese consumers often have little-to-no credit history, leaving a huge gap. The ZestFinance big data credit-decisioning platform is highly applicable to the Chinese market because it accurately underwrites people without credit history. Instead of analyzing the limited number of credit variables most traditional underwriting methods consider, ZestFinance analyzes tens of thousands of data points to effectively evaluate creditworthiness. ZestFinance’s big data approach considers information that traditional underwriting methods do not — such as anonymized consumers’ online shopping habits. This technology will enable lenders in China to effectively predict risk, which, in turn, will expand Chinese consumers’ access to fair credit.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
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