Month: September 2020

You know something that would be no fun… retiring broke.
What would be even worse is thinking you’re doing all the right stuff… and still retiring broke.
For a lot of folks, it’s becoming a scary and surprising reality.
They cut their debt. They save their money. And they stick their extra cash into a retirement fund. And yet when they sit down to crunch the numbers, they find out they’ve got way less than they need.
Worse… they’ve got way less than they could have had.
Let us explain. We may be able to help you avoid this Liberty-busting trap.
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Big Mistake
We’ve been in the …read more […]

Shareholders in Novavax, Inc. (NASDAQ:NVAX) may be thrilled to learn that the analysts have just delivered a major… …read more […]

(Bloomberg Opinion) — After the troubles at Nikola Corp. you’d think stock market investors would have had their fill of startups that promise to revolutionize the trucking world.Yet this week another Texas-based truck electrification business, whose founder is even younger than Nikola’s, is poised to go public. And once again a special-purpose acquisition vehicle (or SPAC) is in the driving seat and making piles of money.Hyliion Inc.’s 28-year-old chief executive officer, Thomas Healy, will become a paper billionaire — a fact that’s sure to capture plenty of attention — as long as the shareholders of cash shell Tortoise Acquisition Corp. …read more […]

Top news and what to watch in the markets on Monday, September 28, 2020. …read more […]

The offer price of $43.3 represents an 18% premium to stock’s close on July 2, the last trading day before Sina received the preliminary offer of $41 per share. Chao-controlled holding company, New Wave, owns a 12.15% stake in Sina as of July 10 and is the largest shareholder of the company, according to Refinitiv-Eikon data. The U.S.-listed shares of Sina were up about 8% in premarket trading. …read more […]

A court renews the ride-hailing giant’s London licence despite previous safety concerns. …read more […]

Uber has won a legal bid to restore its London operating licence which was taken away by the city’s transport regulator over safety concerns, after a judge decided on Monday that it was a fit and proper operator. Transport for London refused to grant the Silicon Valley-based company a new licence in 2019 due to what it called a “pattern of failures” and Uber argued it has since assuaged concerns over insurance verification and driver identification. “Despite their historical failings, I find them, now, to be a fit and proper person to hold a London PHV (private …read more […]

Sep.28 — Siemens AG is unleashing a true behemoth that will be behind much of the world’s electricity. Siemens Energy’s listing marks the next step in the unwinding of the giant German conglomerate. Bloomberg’s Oliver Sachgau reports on “Bloomberg Markets: European Open.” (Corrects company name in description.) …read more […]

Owner of the famed Las Vegas casino reveals its hand as one of two possible bidders for the UK firm. …read more […]

Sep.28 — Democratic Presidential nominee Joe Biden zeroed in on the risk to Americans’ health-care coverage if conservative favorite Amy Coney Barrett is confirmed as President Donald Trump’s new Supreme Court pick. She would replace the most progressive member of the Supreme Court, Justice Ruth Bader Ginsburg, who died on Sept. 18. Biden spoke Sept. 27 in Wilmington, Delaware. …read more […]

(Bloomberg) — Caesars Entertainment Inc. said William Hill Plc’s board would likely recommend its 2.9 billion-pound ($3.7 billion) takeover offer price, putting it on the front foot in a potential bidding war with Apollo Global Management Inc.The British gambling company confirmed it received approaches from both U.S. companies after Bloomberg reported Apollo’s interest on Friday. Caesars’ bid is 57.6% above William Hill’s closing price on Sept. 1, the day before its first approach.Caesars’ power over an existing joint venture with William Hill “makes rival offers unlikely,” said Goodbody analyst Gavin Kelleher. Some people may see Caesars’ offer price of 272 …read more […]

(Bloomberg) — Cleveland-Cliffs Inc. will buy the U.S. operations of ArcelorMittal SA for $1.4 billion in cash and shares to become the biggest flat-rolled steel producer in North America.Cleveland-Cliffs will pay about $873 million of common and non-voting preferred stock, and $505 million in cash, according to a statement.The transaction will save about $150 million in annual costs for the combined operations, improve Cleveland-Cliffs’ liquidity and is expected to boost its sales to the key automotive market. U.S. steel prices have risen in recent months, driven by tight supply after plant usage dropped in response to weaker demand due to …read more […]

Sep.28 — Ram Parameswaran, founder and portfolio manager at Octahedron Capital Management, discusses the sale of ByteDance Ltd.’s U.S. operation to Oracle Corp. and Walmart Inc. and a federal judge blocking President Donald Trump’s ban on TikTok. He speaks on “Bloomberg Markets: Asia.” …read more […]

Sep.28 — Manny Maceda, worldwide managing partner at Bain & Co., discusses the company’s report on the lessons learned from the pandemic and the future of work post-coronavirus. He speaks on “Bloomberg Markets: Asia.” …read more […]

Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year. …read more […]