Author: Vitaliy Dadalyan

Strip-club stimulus reveals lingering uncertainties over U.S. small-business aid

Like many businesses, these cabarets, lounges and gentlemen’s clubs hoped a $660 billion Small Business Administration (SBA) loan program would help them weather the lockdown. Clubs sued, and two federal judges rebuked the SBA for excluding the establishments from receiving the forgivable loans meant to protect jobs amid the health crisis. For a government loan program that has been plagued by criticism - duplicate loans, borrowers without clear financial need, inconsistent data - the strip-club uncertainties are yet another example of confusion surrounding an initiative that pushed hundreds of billions of dollars out the door....

It’s Silver’s Turn to Shine as Prices Surge to Four-Year High

(Bloomberg) -- Silver is hitting its sweet spot. While viewed as a haven from market turmoil -- just like pricier sister gold -- silver also has wide industrial uses in products like solar panels and electronics. That means the metal’s drawing both investors worried about rising virus cases and those focused on rosier indicators, from optimism over China’s recovery and promising vaccine news, to the landmark stimulus package clinched by Europe’s leaders.Read more about what’s moving global markets todaySpot silver powered through $20 an ounce Tuesday and is trading near a four-year high. The cheaper metal has outpaced gold’s own gains this month, and holdings in silver-backed exchange-traded funds have increased for 12 straight weeks to a record.“Silver is now leading the charge,” said Stephen Innes, chief market strategist at AxiCorp Ltd. The metal is following the same trajectory as during the global financial crisis, he said. Back then, prices dropped...