Oil Futures Settle Sharply Lower On Demand Concerns

Part of original Mount Vernon on the market for $60M in Virginia

Real estate is bringing us out of recession: Expert

Campins Group founder Katrina Campins gives details on how the coronavirus is changing real estate trends.

A portion of President George Washington's Mount Vernon estate in Fairfax County, Va., is up for grabs for anyone who has $60 million to spare.

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The area of the National Historic Landmark currently owned by former Lockheed Martin CEO Robert Stevens and his wife Michelle belonged to Washington's family until 1859, listing broker Sotheby's told the Wall Street Journal.

JOHN LENNON'S FORMER NYC PENTHOUSE LISTED FOR $5.5M

The Stevens purchased the property in 2014 for $18.6 million and have since torn down an existing house and erected a brand new home that features nearly 16,000 square feet of living space over four floors. That includes seven bedrooms, four terraces, a library, a game room and an office.

A separate guest house includes three bedrooms, and an additional carriage house has a studio apartment.

TOMMY HILFIGER’S CONNECTICUT HOME LISTED FOR SALE

The construction and renovation took nearly five years and tens of millions of dollars, according to listing agent Heather Corey.

‘Cotton season ends with over 100 lakh bales stock’

‘Prices may fall due to high carry-over’

The cotton season (October 2019-September 2020) has ended with a closing stock of more than 100 lakh bales of cotton, according to the Committee on Cotton Production and Consumption.

Textiles Commissioner Roop Rashi held a virtual meeting of the committee recently to discuss the balance sheet for 2018-2019 and 2019-2020 seasons.

It had been estimated that the closing stock for the 2019-2020 season would be 105 lakh bales.

The total production in 2019-20 was expected to be 357 lakh bales and imports, 16 lakh bales. Cotton consumption by textile mills was 228 lakh bales as against 274 lakh bales the previous season (2018-2019). Exports were close to 50 lakh bales.

“With larger production this season and high carry-over stock, prices will fall and the Cotton Corporation of India will be buying huge quantities,” J. Thulasidharan, president of Indian Cotton Federation, said.

It is learnt that the CCI officials were present at the markets in some northern States on Thursday, the first day of the 2020-21 season, to purchase cotton in case the prices had gone below the MSP.

Internationally, cotton stocks are high with drop in consumption because of the COVID-19 impact. Further, prices of man-made fibres have also fallen steeply and many textile units have switched over to these fibres.

The government should come out with standards for Indian cotton so that the quality improves and the international market expands, he said.

New York Reports Most Virus Cases Since May as Hot Spots Rage

New York state reported more than 1,300 new cases of coronavirus, the most since May.

Test results show positivity of 1.27%, while hospitalizations were at 612, Governor Andrew Cuomo told reporters Thursday. There were 11 virus-related fatalities Wednesday.

After having been an early center of the pandemic, New York had largely quelled the crisis, but numbers are increasing again.

Cases in 20 hot-spot ZIP codes are continuing to rise, with 6.5% of tests being positive, up from 5.5% the day prior, Cuomo said during a conference call. The main increases have been in Brooklyn and in Rockland County, he said.

There were 109,000 tests conducted statewide on Wednesday. Excluding the problematic ZIP codes gives a positivity rate of 0.98%, he said.

The governor said that more than 1,200 state teachers, students and school staff members have tested positive for Covid-19 across the state.

The New York City system has been open for special needs and pre-K pupils. All other students came back to classroom this week on modified schedules.

The fortunes of the city’s schools have been closely watched. The system is the largest in the U.S., and Mayor Bill de Blasio has gambled much of his remaining political capital on a successful reopening. Across the U.S., officials have had to calibrate the desires of parents, the business community and politicians — not to mention the health of children — and New York’s experience is a belwether.

WME Signs ‘Narcos’ Star Wagner Moura

EXCLUSIVE: Wagner Moura, a Golden Globe nominee for his role as Pablo Escobar in the Netflix acclaimed series Narcos, has signed with WME.

Moura, who was previously repped by UTA, can currently be seen starring in two Netflix film; Sergio, which he also produced, and Wasp Network, opposite Penelope Cruz and Gael Garcia Bernal.

Wagner made his directorial debut with Marighella, which premiered at the 2019 Berlin Film Festival. Other credits include Walter Salles’ Behind The Sun for Miramax, Sony’s Elysium, opposite Matt Damon, and Jose Padilha’s Elite Squad, which won the Golden Bear at the 2008 Berlin Film Festival.

Moura continues to be repped by Brent Travers and attorney Greg Slewett.

Mexico top court declares referendum on prosecuting ex-presidents constitutional

MEXICO CITY (Reuters) – A majority of Mexican Supreme Court judges said President Andres Manuel Lopez Obrador’s request to hold a referendum on whether to allow for the prosecution of former Mexican presidents is constitutional.

Arturo Zaldivar, president of the Supreme Court, announced the court’s 6-5 decision on Thursday during the broadcast of the court’s virtual session.

Oil Futures Settle Sharply Lower On Demand Concerns

Crude oil prices declined sharply on Thursday, weighed down by concerns about the outlook for energy demand.

Worries about energy demand continue to persist as reports show new coronavirus cases continued to rise in New York. Reports also hint at a possible shutdown of parts of the economy.

A report from Reuters, citing a survey, say the 13-member Organization of the Petroleum Exporting Countries pumped 24.38 million barrels per day on average in September. That was 160,000 barrels per day higher than August’s revised figure.

According to reports, Libya’s oil output rose to 270,000 barrels per day following the easing of a blockade by eastern forces.

West Texas Intermediate Crude oil futures for November ended lower by $1.50 or about 3.7% at $38.72 a barrel.

WTI Crude oil futures had ended up $0.93 or about 2.4% at $40.22 a barrel on Wednesday, buoyed by data showing a drop in crude inventories in the U.S.

The report from U.S. Energy Information Administration showed oil stockpiles fell by about 2 million barrels last week compared to expectations for an increase of 400,000 barrels.