A disagreement between OPEC+ members lead to a price war earlier in the year, but as a stock analyst wrote in a note to their clients, “The biggest threat to oil demand is the rise of remote working.” It get worse. “A decrease in commuting and business air travel is clearly negative for oil demand.” […]
Big businesses will prosper and everyone else will suffer, thanks to the pandemic. That’s the view of Jim Cramer, the irascible CNBC host of “Mad Money.” The business lockdown due to the COVID-19 pandemic led to “one of the greatest wealth transfers in history,” Cramer says. Large essential big-box retailers, like Walmart, were allowed to stay […]
As nearly half of U.S. states brace for an onslaught of new COVID cases, the financial impact is becoming nearly unavoidable — small business going under in droves, making the employment picture worse by the day. “You are going to have such a flood of cases going to the bankruptcy court,” predicts Stephen Ross, chairman of […]
Yi Wen, an economist working at the St. Louis Fed, says policymakers in the United States “will need to consider negative interest rates” if they want to see a V-shaped recovery. Congress acted quickly to expand unemployment benefits and sent stimulus checks to millions of Americans. That money is now gone, the benefits are ending soon and […]
The stock market recovered strongly and then just too another dip. Now CEOs and other leaders warning that the bumpy economic ride is nowhere near over. “The economic impact of the lockdown is just starting to begin,” says James Quincey, CEO of Coca-Cola. “We’re going to have to recognize that coming after this virus crisis […]
The dawn of the new century and the digital age saw the launch of many revolutionary consumer products. Smartphones, social media and drone technology are just a few of the early new products that found an audience and took off. There were nearly as many ambitious concepts that failed just as spectacularly and embarrassingly. Here […]
Many states are reopening their economies at last, but it’s unclear exactly how fast Americans will get back to spending. Stocks have largely recovered but it’s less clear what happen next with tens of millions filing for unemployment and the risk of evictions ahead of us. The Atlanta Federal Reserve and its “nowcast” data show […]
Advanced Driver Assistance Systems (ADAS), have come under fire lately from many quarters. In light of recent fatal crashes involving cars equipped with driver assisted technology, regulators have started to scrutinize its effectiveness in reducing accidents. Previous advocates of the technology are now reassessing the benefits of the safety system in light of its demonstrable […]
Global economic GDP growth could fall to as low as 1.5% because of COVID-19 shutdowns, according to the Organization for Economic Cooperation and Development (OECD). The group projects that the economic growth of the global economy could have been as high as 2.9% before the viral outbreak. Based in Paris, France, the OECD is an […]
It’s long been theorized that President John F. Kennedy approved the Apollo space program in the 1960s mainly as a political and P.R. weapon against the Soviet Union at the dawn of the Cold War. It was an expensive gamble. The Apollo program cost American taxpayers $25.4 billion in the 1960s, or $152 billion in […]
