Month: September 2020

See what each team stands to lose if fans can’t attend games. …read more […]

The big shareholder groups in BP p.l.c. (LON:BP.) have power over the company. Insiders often own a large chunk of… …read more […]

United Airlines is gradually adding capacity with plans to fly 40% of its full schedule in October amid hopes of improvement in leisure travel. The company expects to fly 34% of its schedule in September.On September 4, United Airlines (UAL) announced that it is resuming services to 50 domestic routes and 14 international routes in October. The domestic routes include 37 from the airline’s Chicago, Denver and Houston hubs.The air carrier is adding additional flight services to 14 leisure destinations in Hawaii, Florida and Mexico.According to ADARA Traveler Trends Tracker, domestic air and hotel bookings for future travel have been …read more […]

AbbVie announced that it has signed an exclusive global collaboration agreement with I-Mab to develop and sell the Chinese biotech company’s lemzoparlimab drug candidate for the treatment of multiple cancers.Under the terms of the agreement, AbbVie (ABBV) will pay I-Mab $180 million in an upfront payment to exclusively license lemzoparlimab, also known as TJC4, along with $20 million in a milestone payment based on the Phase 1 results, for a total of $200 million. I-Mab will be eligible to receive up to $1.74 billion in success-based milestone payments for lemzoparlimab, of which $840 million are based on clinical development and …read more […]

The coronavirus pandemic has more than ever made businesses, educational institutions and other organizations dependent on using remote tools and has accelerated the shift to the cloud. The spike in internet traffic has put CDN (content delivery network) and edge computing companies like Akamai Technologies, Cloudflare, Fastly, and Limelight Networks in the forefront.What’s more, these companies are also seeing stronger demand for their cybersecurity solutions as remote working and increased reliance on the internet has heightened the risk of malicious cyber-attacks.Using the TipRanks’ Stock Comparison tool, we will place Cloudflare and Fastly side by side to see which stock offers …read more […]

The US Defense Department announced on Friday that it has completed a comprehensive review of its $10 billion JEDI cloud computing contract proposals and determined that Microsoft’s offering continues to represent the best value to the government.However, the US Defense Department (DoD) said that “contract performance” by Microsoft (MSFT) will not start immediately due to the preliminary injunction order issued by the Court of Federal Claims on February 13, after Amazon lost out and filed a lawsuit to challenge the contract process.“DoD is eager to begin delivering this capability to our men and women in uniform,” the DoD said in …read more […]

(Bloomberg) — Ned Naylor-Leyland has been all-in on silver for 18 years, earning derision along the way from fellow investors favoring the more glamorous gold. Now, with silver’s price skyrocketing 51% this year, he’s got reason to feel vindicated.The manager of the $1 billion Merian Gold and Silver Fund in London proudly calls himself a “silver bug,” a term describing an investor whose fervor for the precious metal is more extreme than the typical bullion enthusiast’s. The bugs foresee a crash of the fiat cash system in the aftermath of unprecedented monetary stimulus, putting silver back in play as a …read more […]

(Bloomberg Opinion) — As the summer driving season fades in the rearview mirror, oil markets are taking on a distinctly chilly air.The recovery in demand has officially stalled, just as the OPEC+ countries are starting to taper their record output cuts. With spare capacity rife throughout the supply chain and huge stockpiles of crude and refined products, it may be some while yet before oil prices resume their upward path.After a strong initial rebound from the depths of the pandemic-induced slump, the comeback in demand slowed dramatically, as I’ve written here and here. This is most obvious in those countries …read more […]

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(Bloomberg) — Utility giant PG&E Corp. said it may have to cut power early next week in parts of Northern California as hot, dry winds are expected to threaten the region.PG&E warned that it could intentionally turn off electricity on Tuesday and Wednesday to residents who live in areas in the San Francisco Bay Area and the Sierra Nevada foothills with high fire risks, according to a notice posted on its website Saturday. If carried out, the outages would be the first of its kind executed by PG&E for this fire season.The utility’s weather models show that warm, offshore winds …read more […]

Flint Mayor Sheldon Neeley believes the $600 million to be awarded to Flint residents as part of a class action lawsuit against state and local governments is “the floor, not the ceiling” when it comes to compensation for those impacted. …read more […]

In this week’s State of the Market video, Chief Income Strategist Marc Lichtenfeld shines a light on an uncomfortable truth…
The market’s brave face in recent weeks is not a sign of a rallying economy…
In fact, it’s more of a foreboding sign that reminds Marc of the calm before the storm of the 2008 financial crisis.
But no matter how much faith you have in our economy’s ability to recover, one thing’s for certain…
This market is different. Since March, we’ve witnessed ecstatic highs and heart-wrenching crashes, often within the same trading day.
We’ve watched drastic volatility become the new norm – and it’s …read more […]

Rates on the shorter-term loans have hit a record and are offering good refinance deals. …read more […]

(Bloomberg) — Saudi Arabia cut pricing for oil sales to Asia and the U.S. for October shipments, a sign that the world’s biggest exporter may see fuel demand wavering amid flare-ups in the coronavirus.State oil producer Saudi Aramco is cutting its benchmark Arab Light crude more than expected and lowering the grade to a discount for the first time since June for buyers in Asia. It’s the second-consecutive month of cuts for barrels to Asia. Aramco will also trim pricing for lighter barrels to northwest Europe and the Mediterranean region.Aramco is reducing pricing to Asia for October shipments of the …read more […]

With everything 2020 has thrown at us so far, starting with the death of Kobe Bryant, teasing World War III, the biggest pandemic in over a century which, as at the time of writing this article, had infected over 26 million people and killed over 850,000 people, and now the death of a cultural icon […] …read more […]