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How’s your Tuesday?
As the coronavirus pandemic lingers, the intricate ecosystem of the global economy continues to show signs of distress in various travel sectors…the oil price crash is naturally affecting the auto and airline industries. Billionaire Richard Branson is now pleading for government relief to help keep his two airlines afloat. And planes are not the only means of travel getting pummeled by the shutdown—an iconic car rental brand is laying off 10K employees as a result of the corona-economy.
Have a good read…
Special Alert ::
Washington's Nasty Trick to Confiscate Your Savings... Here's How Americans are Resisting...
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Oil IndustryAn Oil Futures Contract Expiring Tuesday Went Negative, Demand Collapses
Crude oil prices dropped more than 100 percent and turned negative for the first time in history on Monday in a display of just how much the coronavirus has impacted the global economy. But traders cautioned that this collapse into negative territory was not reflective of the true reality in the beaten-up oil market. This negative price has never happened before for an…
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Airline IndustryBoeing and Airbus Feeling More Pain After Oil Price Crash
The coronavirus pandemic had already caused the airline industry to lose a lot of business. Now the oil glut and price crash are pouring salt in the industry’s wounds. Boeing and Airbus have dominated the world’s aircraft production for years, and rising oil prices in 2008 kept the airlines going, but now the price crash on oil isn’t helping. There are several factors coming together that are squeezing the life out of the airline industry.
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Global Economy Billionaire Says the World is “More Screwed Up than the Stock Market Reflects
Howard Marks, the billionaire founder of Oaktree Capital, said that in a CNBC interview on Monday. Marks says there’s a big disconnect between what the coronavirus pandemic is doing to the global economy and what the stock market performance is signaling to investors. “It took seven years to get back to the 2000 highs in 2007. It took 5 and a half years to get back to the 2007 highs in late 2012,” Marks explained. “So, is it really appropriate that, given all the bad news in the world today, we should get back to the highs in only three months? That seems inappropriately positive.”
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Stock MarketBurritos and Binge-Watching—How are Chipotle and Netflix Stocks Doings?
Earnings season is underway. Chipotle and Netflix will be among the heavyweights reporting after the bell closes on Tuesday. Here is some news on what to expect from these two brands:
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Small BusinessOpinion: Small Businesses Need More Than Money to Get Americans Back to Work Quickly
Millions of small businesses in the U.S. now face a straightforward problem: lack of money. Responses to COVID-19 have stopped customers from coming through the door with no cash in the coffers. At a bare minimum, small businesses will need another $350 billion, with a…
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Airline IndustryRichard Branson Offers Island as Collateral for Loans to Save His Airlines
Billionaire Richard Branson desperately needs government aid now with the coronavirus shutdown going past a month. He is pleading for government support and even offered up his private island in the Caribbean as collateral on loans. In an open letter to Virgin Group employees on Monday, Branson said…
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Stock MarketAmazon Stock Will Keep Rising, According to Mark Cuban
Billionaire and owner of the Dallas Mavericks Mark Cuban predict Amazon shares will keep going up higher even after a near 30 percent rally this year. “People who weren’t comfortable dealing with Amazon for consumables, for food, for produce even, I think they’ve gotten to that habit now…I think Amazon just takes off.”
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Car Rental ServiceHertz Lays Off 10,000 Employees in Coronavirus Pandemic Fallout
Car rental giant Hertz disclosed on Monday it will lay off 10,000 employees in North America as a result of a sharp decline in business during the pandemic. Layoffs take effect April 14 for nonunion workers and April 21 for union workers. The company expects to incur $30 million in costs related to job cuts, including $28 million…
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