The 20 Minutes That Broke the U.S. Oil Market

It was evident from the very beginning on April 20 that the oil market was headed for trouble. Frantic sell orders had been pouring in overnight and any traders who connected to the Nymex platform that morning could see a bloodbath was coming. By 7 a.m. in New York, the price on a key futures contract — West Texas Intermediate […]

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Icahn Says Stocks Are Overvalued, Virus May Cause ‘Downdrafts’

In this article Carl Icahn isn’t buying stocks right now. He’s hoarding cash, shorting commercial real estate and preparing for the coronavirus to wreak more havoc. This is a time to be “extremely careful,” Icahn said in an interview Friday on Bloomberg Television. From his home on Miami’s Biscayne Bay, the billionaire investor has surveyed the damage to stock prices […]

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Trump White House Turns to Military for New Supply Chain Mission

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Supply chains are a fickle beast with a propensity to become unwieldy, presenting industry and government leaders a sobering test of their leadership skills. German military command learned as much in World War II […]

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Turkey Allocates $15 Billion to Businesses Hurt by Coronavirus

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Turkey allocated about 107 billion liras ($15 billion) to businesses, mostly to small- and medium-sized enterprises, as part of efforts to prop up the economy, Finance Minister Berat Albayrak said. The total amount to […]

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India Pays $4.8 Billion to Its Poor to Ease Virus Woes

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. India distributed about $14 each to more than 350 million people to ease their financial stress amid a nationwide lockdown enforced to prevent the coronavirus from spreading, the government said. The assistance totaling more […]

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Mexico Says Auto Industry Must Adhere to Plant Suspensions

The Mexican government is working with its counterparts in the U.S. and Canada to come up with a plan to reopen the auto industry, the Economy Ministry said in a statement Friday. Until then, the auto industry in Mexico and its supply chains must comply with the suspension of activities mandated by the Mexican government, it said. The three countries […]

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Is now a good time to buy a house?

On March 26, the Government advised home buyers should delay moving while social distancing measures remain in place to fight coronavirus. The Government said that “where the property being moved into is vacant, then you can continue with this transaction although you should follow the guidance on home removals.” However, there are still new properties appearing on the housing market, […]

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Small business owner: We're not deemed 'essential enough'

New York (CNN Business)JPMorgan Chase, Ruth’s Chris Steak House and others are being accused in a lawsuit of efforts to “cheat” small businesses out of federal stimulus funding. An Illinois popcorn seller hurt by the coronavirus pandemic alleges that JPMorgan Chase’s “pampering of its prized clients” like Ruth’s Chris caused it to receive far less Paycheck Protection Program (PPP) funding […]

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