Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession.
(Bloomberg) — After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market.The kingdom has exported just one cargo to the U.S. so far in June, equivalent to about 133,000 barrels a day, tanker-tracking data compiled by Bloomberg show. That’s about one-tenth of the 1.3 million barrels a day it shipped in April, when Riyadh flooded the global market during a brief price war against Russia.If the low pace of exports is sustained in the second half of the month, U.S. imports of Saudi crude could drop to …read more […]
Six former eBay Inc employees have been criminally charged with mounting a cyberstalking campaign against a Massachusetts couple whose online newsletter they viewed as critical of the e-commerce company, U.S. prosecutors announced on Monday.
German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa , saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.
After 15 years working as a hair stylist in other people’s salons, Gary Connell opened his “Healthy Hair” studio in Montgomery County, Maryland in early March, sinking his savings into a two-chair shop in a busy mall.
Oil prices rose 3% in volatile trade on Tuesday as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases.
A bipartisan group of U.S. senators introduced a bill on Tuesday to reform aircraft certification following two fatal Boeing Co 737 MAX crashes, lawmakers said in a statement.
We can learn a lot from Wall Street’s classic books, even those closing in on 100 years of publication.
Today, Nicholas Vardy shares some classic financial freedom quotes from one of his favorites.
Almost 100 years after its publication in 1923, Reminiscences of a Stock Operator remains a Wall Street classic.
The book is a fictionalized account of the life of speculator Jesse Livermore, written in the first person. The author Edwin Lefèvre collected Livermore’s very real insights in this still remarkably relevant book.
Livermore’s story is at once entertaining, readable and packed full of investment wisdom. Each page bristles with insights. My copy …read more […]
U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification following two fatal Boeing Co 737 MAX crashes, Senators Roger Wicker and Maria Cantwell said in a joint statement accompanying the proposal.
Wall Street surged on Tuesday as a record jump in retail sales indicated the U.S. economy is on the road to recovery, five months into its pandemic-inflicted recession.
(Bloomberg) — Only 19 months after the Camp Fire erupted in the tinderbox mountains of Northern California, PG&E Corp., the power utility behind the deadliest conflagration in the state’s history, is poised to emerge from bankruptcy with its safety still in question.As the state braces for yet another wildfire season, U.S. Bankruptcy Judge Dennis Montali said in a hearing that he plans to issue a decision Wednesday approving PG&E’s $59 billion turnaround plan. The shares rose as much as 2.6%.“I’m going to come to the conclusion that the plan should be confirmed,” Montali said.The decision concludes a tumultuous chapter for …read more […]
German fashion house Hugo Boss has appointed former Tommy Hilfiger [APARTM.UL] boss Daniel Grieder as its next chief executive, it said on Tuesday.
U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification following two fatal 737 MAX crashes, U.S. Senators Roger Wicker and Maria Cantwell said in a joint release.
To no one’s surprise, the cruise line industry has been pummeled by the coronavirus pandemic. From the viral outbreak on the liner Diamond Princess, to ongoing headlines along the lines of ‘40,000 Cruise Ship Workers Trapped at Sea,’ to the heavy share price declines among the industry stocks, the news has been unrelentingly bad.But nothing lasts forever, not even bad news, and what goes down must eventually come back up. Even cruise line stocks. The industry is down about 60% year-to-date, drastically underperforming the travel segment generally, but in recent weeks cruise line shares have surged 75%. At the macro …read more […]
A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers’ trading habits.
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