More than half the U.S. House of Representatives could return to the capitol on Thursday to pass a coronavirus relief bill that would fund small business loans and hospital aid, chamber’s second-most powerful Democrat said on Tuesday, adding he thinks both parties would approve the legislation.
U.S. congressional leaders and the White House agreed on Tuesday on nearly $500 billion more in coronavirus relief for the U.S. economy, bringing to nearly $3 trillion the amount allocated to deal with the crisis.
U.S. Senate Majority Leader Mitch McConnell welcomed a bipartisan agreement on additional coronavirus relief on Tuesday and said he hoped the Senate would quickly pass it.
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Stock markets around the world fell on Tuesday, as oil prices kept sliding a day after May U.S. crude oil futures turned negative for the first time, shining a light on the depth of economic damage from the coronavirus pandemic.
Gucci sales were hit hard early in the coronavirus crisis due to the fashion group’s reliance on Chinese customers, owner Kering said on Tuesday, adding that it was premature to say how quickly China sales would rebound.
The crash in crude prices could force some US oil drillers to go bankrupt, says one oil trader. …read more […]
China is now pushing a new narrative about the origin of COVID-19. And we already know that we can’t trust the country’s data on the pandemic’s spread.
Today, Nicholas Vardy dives into three reasons why Americans need to stop being naïve and start paying attention to China.
Last week’s cover story in The Economist – “Is China winning?” – contemplates whether the COVID-19 pandemic has made China stronger than ever.
A widespread Chinese propaganda campaign hails the country’s control of the COVID-19 virus as a geopolitical triumph.
Its message?
China brought the epidemic under control thanks to the superiority of Chinese-style socialism and its unique …read more […]
An Indian court on Tuesday quashed efforts by the federal government to impose a ban on auditors Deloitte Haskins & Sells LLP and a KPMG affiliate for their alleged abetment of a financial fraud at a domestic firm.
(Bloomberg) — Oil’s meltdown spread to the June contract as the price plummeted $10 in New York.West Texas Intermediate plunged below zero on Monday for the first time in history as May futures neared expiration, leaving traders in a panic as they tried to avoid taking delivery of physical barrels. On Tuesday, the losses spread to the following month’s contract — highlighting that a massive supply glut is driving the rout rather than a technical quirk.The Texas Railroad Commission opted to put off a decision on whether to impose oil-production quotas. The state’s main energy regulator said it would not …read more […]
Gold mining stocks might show some of the highest returns in 2020. The recent bear market has clawed most stocks down. And the bear might strike again, pushing stocks to new lows.
Yet, most gold stocks are on the rise. Gold miners’ profitability climbs with the price of gold, which is up about 30% over the last year. Some investors have hedged their portfolios with the stocks I’m about to cover.
Before jumping in, I need to add an important note. Investing in the mining industry isn’t for the faint of heart. There’s a lot of market volatility. And performance often follows …read more […]
New York state brought civil charges on Tuesday accusing Mallinckrodt Plc of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, leading to medically unnecessary prescriptions.
Is anything about to stop Netflix’s (NFLX) mercurial ascent? The 2010s’ best performing stock has been on fire this year, delivering a market-stomping 35% to build a 189 billion market cap. Driven by global stay-at-home measures in the wake of the coronavirus pandemic, viewership has increased, and the stock has not only proved resilient, but flourished throughout the period.Investors and analysts will pay close attention to Netflix’s first-quarter earnings this evening, hoping to glean insights worthy of an investment thesis from the company’s financial data and management’s comments.Wedbush’s Michael Pachter’s estimates are roughly in-line with those of the Street, calling …read more […]
Kazakh oil producers, which export crude via the Caspian pipeline consortium (CPC), are seeking to divert flows to Russia’s Transneft from May in an attempt to minimize losses as CPC Blend margins and demand fall, five market sources said.
U.S. President Donald Trump said on Tuesday he has asked his cabinet to devise a plan to inject cash into the ailing U.S. oil-drilling industry to help it survive a historic collapse in crude prices.
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