Oil price collapses to lowest level for 18 years

Oil price collapses to lowest level for 18 years

The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic. Brent crude fell to $22.58 a barrel at one point on Monday, its lowest level since November 2002. Meanwhile, the price of US West Texas Intermediate (WTI) fell below $20 a barrel and close […]

JPMorgan Says the Market Rout Is Probably Past Its Worst Now

JPMorgan Says the Market Rout Is Probably Past Its Worst Now

Strategists at JPMorgan Chase & Co. have concluded that most risk assets — a universe that typically includes stocks and credit — have seen their low points for the recession that’s gripped economies around the world. Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal […]

Activist Fund Offers to Buy Delta’s 15% Stake in Hanjin Kal

Activist Fund Offers to Buy Delta’s 15% Stake in Hanjin Kal

The activist fund that’s become Hanjin Kal Corp.’s single largest shareholder said it proposed to buy all the South Korean company’s shares held by Delta Air Lines Inc., aiming to raise the stakes ahead of a proxy fight. Korea Corporate Governance Improvement, which has been pushing to shake up Hanjin Kal’s management, sent a proposal […]

Swedbank Probe Unearths $40 Billion of ‘High Risk’ Payments

Swedbank Probe Unearths $40 Billion of ‘High Risk’ Payments

An investigation paid for by Swedbank AB into allegations of financial crime found that client transactions totaling 36.7 billion euros ($40 billion) represented a “high risk” of money laundering. “It’s obvious that there have been cultures in the bank that are not acceptable,” Swedbank CEO Jens Henriksson said in a statement on Monday. A review […]

Coal Is Now the World’s Most Expensive Fossil Fuel

Coal Is Now the World’s Most Expensive Fossil Fuel

Coal, the dirtiest and usually the cheapest option for energy is now the world’s most expensive fossil fuel. Oil’s epic collapse over the past month means the global crude benchmark is now priced below the most widely traded coal contract on an energy-equivalent basis, according to Bloomberg calculations. Australia’s Newcastle coal on ICE Futures Europe […]

Real Estate Billionaire Barrack Says Commercial Mortgages on Brink of Collapse

Real Estate Billionaire Barrack Says Commercial Mortgages on Brink of Collapse

Real estate billionaire Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep borrowers from defaulting. Barrack, chairman, and chief executive officer of Colony Capital Inc., warns in a white paper of a […]

Stores set up senior shopping hours amid coronavirus fears

Stores set up senior shopping hours amid coronavirus fears

As senior citizens deal with anxiety about the coronavirus, grocery store chains, and other retailers have come up with a way to ease their fears: shopping times reserved exclusively for them. Target, Whole Foods, Walmart and Dollar General, as well as supermarkets in Europe, began dedicating early morning shopping times for older customers this week. […]

Homebuilder Adapts to Virus Distancing With Drive-Thru Closings

Homebuilder Adapts to Virus Distancing With Drive-Thru Closings

While Americans keep their distance, one big U.S. homebuilder has figured out how to keep deals moving. Lennar Corp. is adapting to the coronavirus restrictions on social contact with “drive-thru” closings, allowing buyers to complete paperwork without ever leaving their cars. The Miami-based builder, which began its earnings call Thursday by announcing that an employee […]

Will coronavirus affect food supply? First problem: A possible shortage of workers

Will coronavirus affect food supply? First problem: A possible shortage of workers

California’s nearly $50-billion agricultural industry is bracing for a potential labor shortfall that could hinder efforts to maintain the nation’s fresh produce supply amid the widening coronavirus outbreak. The immediate concern centers on a backlog in the recruitment of foreign guest workers because of the virus-related shutdown of consul offices processing agricultural H2-A visas in […]

History Signals a Long Wait Until The Oil War Ends

History Signals a Long Wait Until The Oil War Ends

How long can the vicious oil-price war between Saudi Arabia and Russia last? If history is any guide, the battle will be a long one. Riyadh has waged four price wars, including the current one, over the last 35 years. All of them lasted at least a year, and prices plunged at least 50%. This […]

U.S. Index Futures Hit Limit Down as Volatility Grips Market

U.S. Index Futures Hit Limit Down as Volatility Grips Market

U.S. stock futures slid, hitting exchange-enforced bands that prevent further losses, as investors assess the Trump administration’s beefed-up policy response to the coronavirus. Contracts on the S&P 500, Nasdaq 100 and Dow Jones Industrial Average all reached the so-called limit down level established each day by the Chicago Mercantile Exchange. Futures on the S&P 500 […]

Bear Market Signals Over 80% Chance of Recession Hitting U.S.

Bear Market Signals Over 80% Chance of Recession Hitting U.S.

You can search for years and get nowhere, examining stock gyrations for clues about economic growth. But when U.S. benchmarks slide into a bear market, that’s a different story. Thirteen times the S&P 500 has completed the requisite 20% plunge in the last 93 years. In just two of those episodes did the American economy […]

U.S. Chicken Flows to China as Ports Return, Tariffs Waived

U.S. Chicken Flows to China as Ports Return, Tariffs Waived

U.S. chicken exports to China are flowing freely again as logistical bottlenecks caused by a deadly virus dissipate and the Asian nation issues tariff waivers to buyers, according to Sanderson Farms Inc. The U.S.’s third-largest chicken producer has shipped 522 loads to China of mostly dark meat and paws, Chief Executive Officer Joe Sanderson Jr. […]

Dick’s Sporting Goods Steps Up Removal of Guns From Stores

Dick’s Sporting Goods Steps Up Removal of Guns From Stores

Dick’s Sporting Goods Inc., the largest U.S. sporting-goods retailer, plans to accelerate its retreat from gun sales, removing weapons and other hunting products from about 440 more stores. The retailer said the decision means almost 80% of its stores will be gun-free. When the latest removals are completed, around 575 Dick’s locations will no longer […]

Passive Investing Is Not as ‘Passive’ as You Might Think

Passive Investing Is Not as ‘Passive’ as You Might Think

The changing of the guard in asset management is complete. Passive overtook active in 2019: Assets in U.S. index funds and exchange-traded funds surpassed those in actively managed funds. But don’t shed a tear for active management just yet. There’s still plenty of money in vehicles overseen by security-picking managers. And, for that matter, many […]

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