New York (CNN Business) The American oil industry is facing a doomsday scenario. The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply. That double black […]
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[MarketWatch] The housing sector is going through a major upheaval because of the coronavirus, but that won’t necessarily translate to lower mortgage rates. Mortgage rates remained near another record low for the third straight week. If a new low comes, it may not be because the U.S. housing market is […]
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[MarketWatch] The four largest U.S. banks posted profits in the first quarter, even though they set aside billions of dollars for expected loan losses. Some analysts referred to the hit on earnings as “noise” because the banks simply moved money from one bucket to another. Chris Kotowski, a bank analyst […]
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[POLITICO] Congress is poised to add $300 billion to the loan program, but banks are handing out $50 billion per day. Lawmakers are nearing a deal to restart an emergency small-business loan program that exhausted its funding last week — but it may buy only a few days before the […]
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[ESPN] ESPN’s 10-part documentary series “The Last Dance,” which chronicles Michael Jordan and the 1997-98 Chicago Bulls, premiered on Sunday with Episodes 1 and 2. Jordan and the Bulls allowed NBA Entertainment to follow them throughout the season and document their final championship together. The series features never-before-seen footage, as well as interviews with more than […]
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[Coindesk] Renaissance Technologies is looking to potentially invest in CME’s cash-settled bitcoin futures for its Medallion fund, which has seen an average 66 percent annual return since 1988. (Credit: ggTravelDiary / Shutterstock) Renaissance Technologies’ market-crushing Medallion fund is considering jumping into bitcoin futures, recent regulatory filings show. The quantitative analysis-heavy […]
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BY BRENDAN COLE (Newsweek) People took to social media to express their anger at the decision to reopen some beaches in Florida following weeks of coronavirus restrictions. Beaches in the St. John’s and Duval counties, which includes Jacksonville, were allowed to reopen at 5 p.m. on Friday after Gov. Ron DeSantis gave […]
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[USA TODAY] IRS checks began hitting bank accounts this week, and Americans will make different choices about how to use the money aimed at relief amid the coronavirus pandemic. One possibility: Book a vacation package, when such activity can resume. Scott Eherts and eight of his friends received checks this week and almost immediately […]
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[FORBES, GETTY IMAGES] With technology comes the elimination of the “old” practices in the construction industry. One of those is the plan room. Remember the plan room? If you were born after 1980, then probably not. In the days before computer-aided design (CAD), the plan room was the central repository for a […]
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[InvestorPlace] Here are the top stock trades we’re watching for Monday morning After a strong start to the day, most stocks faded on Friday. With that in mind, let’s look at a few stock trades for Monday. Top Stock Trades for Monday No. 1: Boeing (BA) Click to EnlargeSource: Chart […]
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