Month: October 2020

Four years on from BHS’s collapse, has the audit industry, criticised for not spotting problems, changed? …read more […]

David Andre and Astro Teller’s Cerebellum Capital is a fascinating hedge fund to track given the massive portfolio turnover it undertakes every quarter. The fund, which was founded in April 2017 and is currently being run by CEO Conrad Gann, uses advanced machine learning that can autonomously discover and implement its own strategies, helping the […] …read more […]

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Oct.25 — As China’s economy emerges from the coronavirus, Xi Jinping’s government is putting forward a new growth model based on economic self-reliance. The so-called “dual circulation” strategy is expected to shape the country’s next five-year plan. Bloomberg Markets anchor Tom Mackenzie explains. …read more […]

The Past Week, In A Nutshell What Happened: Last week ended negative alongside mixed messaging on stimulus.Remember This: “Markets have come a long way since the March lows, but we believe there may be more room for stocks to run,” said Jeff Buchbinder, Equity Strategist for LPL Financial.”Given the impressive economic recovery to date and improving underlying technical and fundamental conditions, we think small cap stocks in particular may have attractive growth potential. Despite election and COVID-19-related risks, we see further gains ahead.”View more earnings on SPYPictured: Profile chart of the Micro E-mini S&P 500 FuturesTechnical Broad-market equity indices ended …read more […]

(Bloomberg) — U.S. equity futures started the week on the back foot as a stimulus deal remained elusive and coronavirus infections hit a record for a second day. Asia stocks looked set for a muted open.S&P 500 contracts retreated while those in Japan and Australia were little changed. U.S. House Speaker Nancy Pelosi and the White House traded blame for the latest stall in negotiations on a new stimulus package as chances faded of a resolution before next week’s election. The pound ticked higher after trade talks between the U.K. and the European Union were extended to Oct. 28. Hong …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: Zuma Press/Shelby Steele/Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: Voters will consider more spending for public unions. Image: Justin L. Fowler/Associated Press …read more […]

Journal Editorial Report: Did the last debate change anything? Image: Jim Bourg/Press Pool Composite: Mark Kelly …read more […]

(Bloomberg) — Dunkin’ Brands Group, Inc., parent company of coffee-and-donuts chain Dunkin’ and Baskin-Robbins, said it’s in talks to be acquired by private equity-backed Inspire Brands.The New York Times reported the talks earlier, saying Inspire will take Dunkin’ private at $106.50 a share, citing two people with knowledge of the negotiations who weren’t identified. The deal — valued at $8.8 billion — could be announced as soon as Monday, the newspaper added. The price is a 20% premium over Friday’s closing price, when the company had a market capitalization of $7.3 billion.“Dunkin’ Brands confirms that it has held preliminary discussions …read more […]

(Bloomberg) — SAP SE cut its revenue forecast for the full year and said it expects the coronavirus pandemic to hurt demand through “at least” the first half of 2021 as a fresh wave of lockdowns hits businesses globally.The pandemic will delay SAP’s goals for cloud revenue, overall sales and operating profit by one or two years, especially in hard-hit industries, the German software company said in a statement on Sunday.Chief Executive Officer Christian Klein, who became sole CEO in April, has been trying to navigate spending freezes from business customers trying to ride out the Covid-19 lockdowns this year. …read more […]

The parent company of Dunkin’ and Baskin-Robbins is negotiating a deal to go private in a sale to the owner of Arby’s, Buffalo Wild Wings and Sonic. …read more […]

Momentum is building for auto heavyweight General Motors (GM), with shares rising nearly 25% so far this month. Investors are obviously getting behind a recent slew of positive developments.Last week, GM revealed its new all-electric GMC Hummer EV pickup truck, which the company boasts is the world’s first all-electric super truck.GM also disclosed its plans to invest over $2 billion into 6 US facilities, whilst the auto giant has also pledged $2 Billion to turn a former Saturn plant at Spring Hill, Tennessee into a manufacturing site for the Cadillac Lyriq EV, which means it now has 3 separate US …read more […]

The Inspire Brands team looks to be nearing its latest big buy, Dunkin’ Brands. …read more […]

(Bloomberg) — Airbnb Inc. is splitting its privately held shares ahead of a planned initial public offering, according to an email reviewed by Bloomberg News.The company said in an email to some of its shareholders that the board of directors has approved a two-for-one split of the shares. The split will be reflected in their accounts on Tuesday, according to the email.After the split, the company’s shares are valued at $34.88 apiece, according to the email.A representative for San Francisco-based Airbnb declined to comment.Airbnb is planning to go public later this year. A two-for-one stock split reduces the price of …read more […]