The United States Oil Fund, a popular exchange-traded security known for its 'USO' ticker which is supposed to track the price of oil and is popular with retail investors, plunged as the managers of the fund made repeated changes to its structure to stave off a collapse.
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies foreshadowed the worst economic slump since the Great Depression.
The U.S. housing regulator on Tuesday provided some long-awaited relief for mortgage firms facing billions of dollars of missed home loan repayments, although industry officials said more liquidity assistance was needed.
Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo , according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at the Japanese consumer electronics company.
New York state brought civil charges on Tuesday accusing Mallinckrodt Plc of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, leading to medically unnecessary prescriptions.
Black and Hispanic families in the United States are taking the biggest income hit due to the coronavirus pandemic, and they are less prepared to withstand the blow, according to two studies released Tuesday.
"What's needed is not another version of PPP. Again, good intent but it's the wrong medicine," Howard Schultz told CNBC.
An Indian court on Tuesday quashed efforts by the federal government to impose a ban on auditors Deloitte Haskins & Sells LLP and a KPMG affiliate for their alleged abetment of a financial fraud at a domestic firm.
Blockchain firm Ripple sued Alphabet Inc's YouTube on Tuesday, alleging the video-sharing platform failed to protect consumers from cryptocurrency "giveaway" scams that use fake social media profiles to dupe victims into sending money.
U.S. congressional leaders and the White House agreed on Tuesday on nearly $500 billion more in coronavirus relief for the U.S. economy, bringing to nearly $3 trillion the amount allocated to deal with the crisis.
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
A California regulator has asked PG&E Corp for governance and oversight changes to its reorganization plan, while proposing about $2 billion in penalties for the San-Francisco based utility's role in causing the devastating 2017 and 2018 wildfires in California.
More than half the U.S. House of Representatives could return to the capitol on Thursday to pass a coronavirus relief bill that would fund small business loans and hospital aid, chamber's second-most powerful Democrat said on Tuesday, adding he thinks both parties would approve the legislation.
U.S. Senate Majority Leader Mitch McConnell welcomed a bipartisan agreement on additional coronavirus relief on Tuesday and said he hoped the Senate would quickly pass it.
Brent oil futures prices plunged again on Tuesday as oil market panic extended into a second day with no end in sight to a swelling global crude glut as the coronavirus pandemic has obliterated demand for fuel.