Month: July 2020

MPs are calling for action to help so-called mortgage prisoners, including thousands of key workers. …read more […]

Top news and what to watch in the markets on Monday, July 13, 2020. …read more […]

Analog Devices Inc. (ADI) is reportedly in talks to buy rival semiconductor Maxim Integrated Products Inc. (MXIM) for an estimated $20 billion.Analog and Maxim are discussing an all-stock deal that could be finalized as soon as Monday, though it isn’t guaranteed and discussions could still fall apart, the Wall Street Journal reported over the weekend. The deal would be the largest U.S. merger so far this year, according to data from Dealogic.According to the discussed talks, Maxim shareholders would own about 30% of the combined company, which would be valued at just under $70 billion including debt, should the deal …read more […]

Tesla Inc. (TSLA) has set September 22 for its “Battery Day” event which is expected to unveil improvements to the batteries powering the automaker’s electric car technology. The event was originally scheduled for earlier in the year however it was postponed because of the pandemic. To address concerns of social distancing, the Tesla plans to live-stream the event while also offer in-person attendance to select shareholders and investors. The main focus of “Battery Day” will be for the unveiling of a new cell to power the company’s vehicles. On May 14, Reuters reported that Tesla and China’s Contemporary Amperex Technology …read more […]

Jul.13 — Grzegorz Poniatowski, vice president at Centre for Social and Economic Research, discusses Poland’s general election results. He speaks on “Bloomberg Markets: European Open.” …read more […]

Buying value stocks at bargain-basement prices has netted sub-par returns for more than a decade. But don’t count out these stocks yet. …read more […]

Shares in Carnival Corp (CCL) spiked 11% in Friday’s trading after the cruise company reported its second quarter earnings results- and revealed better-than-expected demand levels for 2021.Specifically, Q2 Non-GAAP EPS of -$3.30 missed Street estimates by $1.54 while GAAP EPS of -$6.07 also fell short of consensus expectations by $4.47. However revenue of $740M beat by $2.19M, despite representing a drop of 85% from the same period last year.Due to COVID-19, CCL paused its guest cruise operations in mid-March but now says it expects to resume operations in a phased manner. For instance, AIDA previously announced it will resume guest …read more […]

Tesla Inc. billionaire (TSLA) Elon Musk is now richer than investment guru Warren Buffett.The fortune of Tesla’s founder rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.Buffett’s fortune fell earlier this week when he donated $2.9 billion in Berkshire Hathaway stock to charity. The 89-year-old has given away more than $37 billion of Berkshire shares since 2006.Musk owns about a fifth of Tesla’s outstanding stock, which makes up the lion’s share of his $70.5 billion …read more […]

Newly-released UBS data revealed that at least 75% of wealthy investors think “life will never be the same again.” …read more […]

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion at its current share price, the firm’s annual filing released on Friday showed. The divestment comes as Ma retired as the Chinese e-commerce company’s executive chairman in September and pulled back from formal business roles to focus on philanthropy. Alibaba did not disclose the average selling price of his divestment. …read more […]

Jul.13 — The Polish election is a hard one to call. It’s highly charged and looks very close with both candidates declaring victory. Bloomberg’s Rosalind Mathieson reports on “Bloomberg Daybreak: Europe.” …read more […]

(Bloomberg) — Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to use its own currency instead.The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing number of government officials and influential market watchers have in recent weeks urged greater efforts on the endeavor, which gained renewed significance after China’s new Hong Kong security law triggered the threat of retaliation from Washington.While such drastic action is far from being implemented by the U.S. — and …read more […]

Amazon.com Inc. (AMZN) has acquired 2,300 trucks to launch a new fleet of larger carriers to service its delivery operations. According to a Reuters report on July 10, the trucks will be much larger and to a scale commonly used by Amazon’s competitors such as FedEx (FDX) and UPS (UPS). The vehicle acquisition was made from Shyft Group, Inc. (SHYF) last year. Both companies have not disclosed the amount of the purchase.Amazon’s stock was up 1% at $3,200 as of market close on July 10, while Shyft rose 14% at $16.88.In light of the pandemic, the online retail giant was …read more […]

Opec ministers are meeting this week amid signs of growing energy demand as coronavirus lockdowns ease. …read more […]

(Bloomberg) — The Hong Kong dollar is suddenly looking vulnerable, after weeks of trading at the strong end of its band against the greenback.Late on Friday, the currency weakened rapidly in its biggest drop since mid-June, when the exchange rate was buffeted by Beijing’s decision to impose laws curbing dissent in the city. The decline was unexpected, given persistent inflows into the former British colony, but may have been triggered by concern about possible financial sanctions and a narrowing of the yield gap between the Hong Kong and U.S. dollars.Traders are watching the Hong Kong dollar closely for any signs …read more […]