Netflix Posts Explosive Growth, But Boom May Not Last Long

Everyone expected shut-in viewers to embrace Netflix Inc. during the global coronavirus pandemic. But few could have predicted the stampede that actually occurred. Netflix added a record 15.8 million paid subscribers during the first quarter, almost double the 8.47 million forecast by Wall Street analysts. The company also clobbered its own forecast of 7 million, with droves of new customers […]

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Oil prices negative: How can oil prices go negative?

The price of oil in the US has turned negative for the first time in history as demand for oil has dried up with lockdown measures in place across the world. The collapse of crude oil prices threatens the global economy as it is already struggling to cope with the fallout from the coronavirus outbreak. How can oil prices go […]

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Trump Finalizing Plan To Reopen US Economy

President Donald Trump announced that the Government was finalising a plan to reopen the U.S. economy, which has been paralyzed due to stay-at-home orders intended to prevent the spread of the coronavirus. The social distancing guidelines that the Trump administration announced expire on April 30. At his routine news conference Monday, Trump said he remains determined to reopen the U.S. […]

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Internships Have Managed to Survive the Pandemic’s Wrath

Some 22 million Americans filed for unemployment in the past month as businesses shut down to slow the spread of the novel coronavirus. But internship programs, a key source of future employees for big companies, have proven surprisingly immune to the economic devastation. While Wall Street’s biggest names have delayed, shortened or made virtual their paid summer programs, they have […]

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Coronavirus Has Wiped Out More Than 90% of International Flights

Airlines have cut international capacity to just half a million seats a week from an average of 5.9 million before the coronavirus shut borders and decimated travel demand, according to OAG Aviation Worldwide. “There isn’t much more international capacity that can be dropped around the globe,” OAG senior analyst John Grant wrote in a post dated April 20. Strong domestic […]

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The Oil Price Crash in One Word: ‘Inelasticity’

LISTEN TO ARTICLE SHARE THIS ARTICLE The historic crash in oil prices on Monday—to below zero, believe it or not—can be explained with one wonky word: “inelasticity.” The demand for oil is inelastic. It doesn’t respond dramatically to changes in price in the short term. When we’re cooped up at home because of Covid-19, we’re not going to do a […]

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NBCUniversal’s Fandango Acquiring Vudu From Walmart

Vudu, the digital movie and TV unit of Walmart, is being acquired by NBCUniversal’s Fandango division. Founded in 2004 and acquired by Walmart in 2010, Vudu offers about 10,000 free movie and TV titles through a streaming service. It also enables the rental and purchase of some 150,000 titles, including new releases. The news was confirmed Sunday night in a […]

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GM, Ford Credit Arms May Lose Billions on Car-Price Plunge

In this article General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said. Prices are falling faster and steeper than JPMorgan was expecting, lead analyst Ryan Brinkman wrote in a report Monday, citing mid-month data from Manheim. The auto-auction firm’s closely watched used […]

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