Dow plunges as much as 2,000 points, oil crashes as price war erupts and coronavirus spreads

U.S. equity markets were sharply lower Monday morning after an oil price war broke out between Saudi Arabia and Russia and the new coronavirus showed signs of spreading. The Dow Jones Industrial Average was down by as many as 2,046 points, or 7.9 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite were lower by…

China Pledges To Buy $200 Billion Of American Goods Under Phase One Trade Deal

With the Phase One trade deal signing scheduled for tomorrow, new details have emerged about China’s pledge to significantly ramp up purchases of U.S. exports including manufactured goods, food, farm products, energy and services, sources told Reuters. The Phase One deal includes agreements on intellectual property, technology transfers and currency as well as explicit commitments from China…

Railroad owner Genesee & Wyoming to be taken private in $8.4B deal

U.S. freight railroadsOpens a New Window. operator Genesee & WyomingOpens a New Window.on Monday agreed to be acquired by Toronto-based Brookfield Asset Management and Singaporean sovereign wealth fund GIC in a deal valued at about $8.4 billion, including debt. The announcement comes a day after Reuters reported news of the development, citing sources. The Transaction will result in…

Oil prices drop as US stockpiles swell

OilOpens a New Window. prices dropped on Thursday even though the Trump administrationOpens a New Window. officially ended waivers that had been granted to some nations allowing them to continue importing oil from Iran. On Thursday, WTI crude oil prices fell by nearly 3.8 percent to $61.19 per barrel, while Brent Crude dropped to $69.95 per barrel. There were concerns oil…

Fox, Disney close transformative $71.3 billion deal

The Walt Disney Company’sOpens a New Window. $71.3 billion purchaseOpens a New Window.of key 21st Century Fox properties closed on Wednesday, expanding Disney’s Hollywood holdings while creating a new Fox CorporationOpens a New Window.featuring a streamlined media portfolio focused on television and news assets. For Fox, the sale ushers in a new era for Rupert Murdoch, whose son Lachlan is poised to take the reins of the slimmed-down company — known…

College admissions cheating scam, by the numbers

Dozens of wealthy, prominent individualsOpens a New Window. have been charged in connection with a multimillion-dollar scheme to secure entry to top colleges and universities for their children, in what federal officials described as the largest college admissionsOpens a New Window.scam in history. Prominent names among the defendants include “Full House” actress Lori Loughlin, her husband, fashion designer…