• NYC taxi rescue plan calls for revaluing all medallions at $250,000

    NYC taxi rescue plan calls for revaluing all medallions at $250,000

    A new plan to solve New York City’s taxi crisis is brewing — and it’s coming from a pair of local tech entrepreneurs. A pair of former Wall Street traders who have created a ride-hailing app for yellow cabs are teaming up with a city councilman with an idea to not only slash the debts …
  • Oil prices drop below zero for first time ever as COVID-19 kills demand

    Oil prices drop below zero for first time ever as COVID-19 kills demand

    Crude oil prices plunged below zero for the first time in history on Monday, with traders actually paying to get barrels of the stuff off their hands as the coronavirus kills demand. The May futures contract for West Texas Intermediate crude, which is set to expire Tuesday, settled at negative $37.63 per barrel, down $55.90 …
  • Amtrak gets $1B in emergency funds as ridership plummets during coronavirus crisis

    Amtrak gets $1B in emergency funds as ridership plummets during coronavirus crisis

    The US Transportation Department said Friday it released $1 billion in emergency funding for US passenger railroad Amtrak, which has been devastated by the coronavirus pandemic. Amtrak said last week that daily ridership was down 96 percent and future bookings were 95 percent lower. Amtrak has suspended its high-speed Acela service and cut about 50 …