Month: August 2020

Amazon is unlikely to be a mall savior, says former long-time Sears Canada CEO Mark Cohen. …read more […]

German regulatory officials bought and sold Wirecard shares in ever higher volumes as the payments company edged towards collapse, the German government has revealed, prompting fresh criticism of the agency that polices finance. Responding to questions posed by Green party lawmakers investigating what authorities did to avert Germany’s biggest stock market fraud, the government said staff in Bafin, which monitors banks, had invested in Wirecard shares. Allegations of fraud at Wirecard had been doing the rounds for years though German prosecutors long focused on investigating the investors and journalists who had highlighted irregularities rather than the company …read more […]

The markets are trending positive, after an earnings season that was less grim than predicted. With a majority of S&P listed companies having reported Q2 results, the fall-off in profits was not as bad as expected. On average, earnings are down 36%, a favorable comparison to the expected 44% declines. Even better, close to 85% of reporting have beaten the forecasts. This is an all-time high percentage, and a great sign of economic health despite the corona virus crisis.The better-than-expected earnings season is having a ripple effect in the stock markets. The S&P 500 and the NASDAQ indexes are both …read more […]

Yahoo Finance’s Alexis Christoforous and Brian Sozzi speak with Anjalee Khemlani for the latest on COVID-19 and the race for a vaccine. …read more […]

Epic Games, the video game company behind the popular game Fortnite is taking on Apple and Google for removing its game from their app stores because Epic Games used its own in-app payment system. Yahoo Finance’s Emily McCormick joins The First Trade with Alexis Christoforous and Brian Sozzi to discuss.
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Americans slowed down their spending last month, with retail sales only up 1.2% in July. Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Emily McCormick break down the numbers and speak with Columbia Business School Professor Mark Cohen about what it means for the economy.
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(Bloomberg Law) — Daily fantasy sports companies like FanDuel and DraftKings must pay federal excise tax on their entry fees, the IRS has decided, in an internal memo that could cause a major shakeup in the industry. An IRS Chief Counsel Memorandum said those companies must pay tax on every wager—the entry fee—they accept as well as an annual occupational tax on each person accepting those wagers. Those taking wagers must also register with the IRS. “This is one of the most significant events in the evolution of sports betting in the United States that has happened in a long …read more […]

CALGARY, AB, Aug. 14, 2020 /CNW/ – Sundial Growers Inc. …read more […]

(Bloomberg) — Alibaba Group Holding Ltd. will be included in Hong Kong’s Hang Seng in one of the biggest revamps in the benchmark index’s 50-year history.Xiaomi Corp. will also be joining the index, as will Wuxi Biologics Cayman Inc., according to Hang Seng Indexes Co. on Friday as it unveiled the first major changes since the compiler began allowing dual-class shares and secondary listings.The move could affect tens of billions of dollars in pension fund assets and exchange-traded funds that track the index. Sino Land Co., Want Want China Holdings Ltd and China Shenhua Energy Co. were forced out of …read more […]

Stock futures pointed to another mixed session on Wall Street. A day earlier, tech shares led the Nasdaq to back-to-back sessions of advances while the S&P 500 and Dow declined. …read more […]