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Showing posts with the label NYT.

DealBook: Global Markets Fall on Recovery Fears and China Tensions: Live Updates

17-21 minutes - Source: NYT Image Credit... Lam Yik Fei for The New York Times Global markets fall sharply on recovery jitters. Global markets on Monday were pointing to a downbeat beginning to the week, with stocks falling and futures markets predicting a negative opening for Wall Street. Markets in France and Germany opened more than 3 percent lower, on a day when many markets were catching up after a trading holiday on Friday in much of the world. Futures market were predicting Wall Street would open about 0.6 percent lower. Prices for U.S. Treasury bonds also rose during Asian trading, amid investor skepticism over the global economic outlook. Sentiment was also hurt by rising tensions between the United States and China. The Trump administration, under pressure for its own bungles in dealing with the outbreak, has ramped up criticism of China’s response. Other governments have also added their criticism. Shares in Ho

Coronavirus Live Updates: W.H.O. Warns Pandemic Is ‘Far From Over’ as Nations Edge Toward Reopening

22-28 minutes - Source: NYT At least a dozen U.S. states forged ahead with a variety of strategies to ease restrictions. The C.D.C. expanded the list of symptoms associated with the virus. Right Now Detected infections of the coronavirus in the United States approached one million. More than 50,000 have died. Image Credit...Juan Arredondo for The New York Times The C.D.C. expands the list of symptoms, and the W.H.O. warns of a long road ahead. Even as governors across the United States proceeded cautiously with plans to allow businesses to reopen and other nations looked for ways to restart stalled economies, the workings of the virus continued to vex the scientific and medical community. For weeks, most people in the United States have been told that they qualify for a test only if they have three symptoms associated with the disease: high fever, cough and shortness of breath. As health experts have gained more experience

DealBook: You Have to Pay to Give Oil Away

15-19 minutes - Source: NYT Credit...Eric Gay/Associated Press April 21, 2020 Updated. The oil market’s subzero moment “Crude costs money again” is a strange headline for strange times. The price of a barrel of oil for delivery in May dropped below zero yesterday: West Texas Intermediate crude, the U.S. benchmark, closed at around -$38. It bounced back above zero, briefly, in early trading today, before falling back into negative territory. Market watchers are trying to make sense of it all. Technical factors explain some of the decline . The soon-to-expire May contract went negative on thin volumes, while the more heavily traded June contract has remained above zero. In essence, traders don’t want to be stuck taking delivery of any oil now — storage is nearly full and demand is nonexistent — but they think that production cuts and a gradual reopening of the economy will make oil worth something in the future. The ugly economics of the indust

DealBook: Who Gets a Say on Restarting the Economy

9-11 minutes - Source: NYT Credit ... Pool photo by Stefani Reynolds/EPA, via Shutterstock Who is, and isn’t, on the list President Trump revealed yesterday who will advise him on reopening the economy. Sort of . He read out the names of nearly 200 corporate chiefs and other notable figures during a news conference at the White House, implying they would act as consultants of sorts . ( At least one of them told The Times that no such request had been made before the announcement.) The White House later published a list of leaders who would serve on “Great American Economic Revival Industry Groups” and take part in conference calls. Who made the cut: Tim Cook of Apple, Mark Zuckerberg of Facebook, Jamie Dimon of JPMorgan Chase, Sheldon Adelson of Las Vegas Sands and Robert Kraft of the New England Patriots. • Some companies nabbed multiple representatives. Blackstone got two, Steve Schwarzman and Jon Gray. Oracle has both Larry Elliso