Two of the biggest oil producers in Texas are asking the state regulator to consider curtailing the amount of oil companies can pump – an attempt to stem a dramatic collapse in prices and something that has not been done since the 1970s. Read More
Texas oil producers ask state to limit output as prices collapse — Financial Post
Odd, a private enterprise wishes the government to impose a price floor by limiting production.
SYDNEY/WASHINGTON — Shattered airlines were left counting the cost of government support as politicians in the United States and New Zealand set out conditions for bailouts needed to absorb the shock of coronavirus. Read More
Governments offer financial lifelines to airlines, at a price — Financial Post
(Bloomberg) — The global oil and gas industry has slashed at least $31 billion from investment budgets after crude’s epic price crash this month, and more cuts are likely to come. Read More
Oil Crash Wipes Out $31 Billion From Industry’s Investment Plans — Financial Post
According the records from ProPublica Senate Burr traded stock while insisted the Coronavirus was not an issue.
Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $628,000 and $1.72 million of his holdings on Feb. 13 in 33 separate transactions.
The tax law changes of 2017 afforded the largest companies in America to buy back stock shares. This benefited the largest stock share holders, usually members of the board and high level management. Due to the Corona Virus the country’s economic and industrial sector are suffering. If corporate America needs a bailout at taxpayer’s expense, should the country try to limit the use of the money? One billionaire weighs in…
Billionaire entrepreneur Mark Cuban told CNBC on Wednesday that companies that get federal assistance in response to the coronavirus crisis should be prevented from buying back stock ever again.
MADRID — Spain’s stock market regulator CNVM on Monday banned transactions with Spanish shares involving the creation and increase in net short …
Spain’s stock market regulator bans short-selling for a month
NEW YORK — Wall Street suffered its biggest drop since the coronavirus crisis began, with the S&P 500 closing at the lowest level since December …
Wall St sinks as virus spread escalates worries
Amazon.com Inc said on Monday it would hire 100,000 warehouse and delivery workers in the United States to tackle a surge in online orders, as …
Amazon to hire 100,000 workers as online orders surge on virus worries
Is this the law of supply and demand or law of the jungle. Whether you believe the Corona virus is a real issue or not, someone will try to take advantage of the situation. As the great business person Rothchild stated “Buy when there is blood in the streets.” Not the most kind idea, but, you can benefit in a down market. I would not recommend this method.
He Has 17,700 Bottles of Hand Sanitizer and Nowhere to Sell Them
On March 1, the day after the first coronavirus death in the United States, brothers Matt and Noah Colvin set out in a silver SUV to pick up some hand sanitizer. Driving around Chattanooga, Tennessee, they hit a Dollar Tree, then a Walmart, a Staples and a Home Depot. At each store, they cleaned out the shelves.
https://www.yahoo.com/news/17-700-bottles-hand-sanitizer-155735689.html
S&P 500 drops 11%, extending losses after 15-minute trading halt
The S&P 500 dropped 11.4% while the Dow Jones Industrial Average fell 2,700 points, or 11.7%. The Nasdaq Composite traded 11.2% lower. Those losses put the major averages on track for their worst day since the “Black Monday” market crash of 1987. They also eclipsed the steep decline seen on Thursday.
the Java Exchange 