Amazon.com Inc. AMZN, +1.92% employees have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The online retailing giant has long asserted, including to Congress, that when it makes and sells its own products, it doesn’t use …
Read More »Economic Report: Unemployed workers applying for jobless benefits seen topping 25 million
The record surge in suddenly unemployed Americans likely grew by another 4 million last week to push the total to 25 million or more since the coronavirus pandemic shut down large parts of the U.S. economy a month and a half ago. Initial jobless claims in the seven days running …
Read More »CityWatch: Despite stimulus bills, New York’s small businesses face huge challenges
The $ 484 billion stimulus bill the U.S. House of Representatives is expected to pass this week will help infuse some of New York City’s small businesses with much-needed cash, but could leave out hundreds—if not thousands—of the city’s smallest enterprises, advocates said. “It’s starting to feel pretty desperate,” said …
Read More »Key Words: ‘It’s going to be brutal,’ billionaire Mark Cuban says of economy’s recovery from coronavirus, and ‘there’s no way to sugarcoat it’
“ ‘It’s going to be brutal. There’s no way to sugarcoat it at all.’ ” That is outspoken billionaire and Dallas Mavericks owner Mark Cuban, who has been increasingly visible as the National Basketball Association has been temporarily suspended due to the deadly COVID-19 pandemic. On Wednesday morning, Cuban, speaking …
Read More »Futures Movers: Brent oil’s 12% skid on Wednesday puts it on pace for lowest levels since around 1999
Oil futures were headed sharply lower early Wednesday as the energy complex faced persistent pressure centered on a dearth of places to put excess oil and a glut of the commodity being pumped by major producers. June Brent crude BRNM20, -11.74%, the international benchmark, was trading down $ 3.09, or …
Read More »The Wall Street Journal: Expedia near deal to sell stake to private-equity firms
Expedia Group Inc. is in advanced talks to sell a stake to private-equity firms Silver Lake and Apollo Global Management Inc. APO, -4.74% after the widespread travel bans caused by the coronavirus pandemic ravaged the online-booking company’s business. Expedia EXPE, -4.50% , led by Barry Diller, is expected to hand …
Read More »Key Words: Mark Zuckerberg says Facebook can help defeat the coronavirus
“ ‘The world has faced pandemics before, but this time we have a new superpower: the ability to gather and share data for good. If we use it responsibly, I’m optimistic that data can help the world respond to this health crisis and get us started on the road to …
Read More »Market Snapshot: Dow set to stumble a second day after historic plunge in oil prices
U.S. stock-index futures early Tuesday pointed to a second day of losses for the major benchmarks after a historic fall for oil, as investors braced for a fresh slate of earnings and weighed the impact of overnight developments. President Donald Trump said he planned to sign an executive order to …
Read More »Key Words: ‘No paranoid rambling, no blame-shifting’ — New Zealand PM hailed as world’s ‘most effective leader’
“ ‘We have done what very few countries have been able to do. We have stopped a wave of devastation.’ ” That’s New Zealand Prime Minister Jacinda Ardern claiming a win against the coronavirus in an address to the nation on Monday from capital city Wellington. Kiwis, she said, will …
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