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The Market

The Wall Street Journal: Amazon took data from its own sellers to develop competing products

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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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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