(Bloomberg) -- When Saudi Arabia kicked off its oil-price war and triggered the worst crude crash in a generation, U.S. President Donald Trump lauded the ensuing decline in pump prices, saying it would be “like a tax cut” for Americans.Weeks later, the crisis remains a low priority for the president, who has continually expressed his satisfaction with cheap gasoline and whose agenda has been consumed by the coronavirus pandemic itself, according to people familiar with the situation. While Secretary of State Mike Pompeo on Wednesday took the strongest action yet to calm the market -- pressing Saudi Arabia to dial back its production surge -- the kingdom has shown no signs of slowing down.Now, with thousands of oil jobs hanging in the balance and the U.S. shale industry in upheaval, any action from Trump himself may be too little, too late. Oil’s downturn has rapidly devolved from a simple case of...
(Bloomberg) -- Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he’s focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.Mnuchin, speaking on a call with the nation’s top financial regulators, said there’s a consensus among federal agencies that it’s “in the best interest” that trading in stocks and other assets continue. He was joined by Federal Reserve Chairman Jerome Powell, Securities and Exchange Commission Chairman Jay Clayton and other agency leaders.The past two weeks of huge market swings have fueled rumors across Wall Street that the government could halt trading. Last week Mnuchin added to the speculation by saying that while President Donald Trump’s administration plans to keep markets open it could shorten trading hours. On Thursday, Mnuchin clarified his position.“We will do everything we can working...
Upstaging, a fleet that specializes in hauling lighting, staging and other requirements for concerts and other live events, turns to hauling relief supplies as the COVID-19 outbreak intensifies. ...
Apex Capital Corp now offers blynk, a digital payment system that allows Apex factoring clients to get paid in minutes, easily and securely, after their freight invoices are processed. ...
The Federal Motor Carrier Safety Administration issued a second installment to frequently asked questions regarding the nationwide emergency hours-of-service exemption for truck drivers hauling loads related to the COVID-19 corinavirus pandemic. ...
