Month: October 2020

Two of Apple’s latest iPhone 12 models went on sale in China on Friday, after early pre-order data showed strong consumer interest in the 5G-enabled device in the firm’s second-largest market. The short queues outside Apple stores in the business hub of Shanghai struck a contrast with the crowds that flocked to past launch events, as most ordering has now shifted online. “I feel great being the first customer to get the new iPhone,” said Yan Bingqing, 30, who arrived before the store opened, and was in a line of about 20 people. …read more […]

…read more […]

(Bloomberg) — Renault SA reported third-quarter revenue that beat estimates, partly fueled by a surge in sales of its popular electric model that the carmaker said will allow it to meet European emissions rules.Although revenue fell 8.2% to 10.37 billion euros ($12.2 billion) in a period still marked by the pandemic, it surpassed the 9.96 billion-euro average of estimates compiled by Bloomberg. The French manufacturer sold fewer passenger cars and trucks in the quarter, but sales of the battery-powered Zoe more than doubled, Renault said Friday.The global health crisis has added to pressure on the carmaker, which was already suffering …read more […]

…read more […]

PayPal Holdings Inc (NASDAQ: PYPL) is in talks with digital asset custodian BitGo for an acquisition deal, according to Bloomberg.What Happened: A deal could be reached within weeks but discussions are still in the early stages, people familiar with the matter told Bloomberg. PayPal might consider other potential targets if the negotiations fall apart.BitGo, a California-based digital assets custodian, offers multi-signature wallet services. Multiple signatures generated from unique private keys are needed for routing transactions through such wallets.The terms of the deal are unknown. BitGo was last valued at $170 million in a 2018 funding round, according to Pitchbook data …read more […]

(Bloomberg) — Automakers are investing billions of dollars to bring new electric vehicles to consumers in the U.S. and other global markets, but their success hinges on securing the most critical and expensive component: the battery.A handful of companies based in China, Japan and South Korea make automotive-grade battery cells, which has upset the traditional dynamic between carmakers and parts suppliers. These battery giants — though little known to the general public and relatively new to the auto industry’s sprawling supply chain — are key to manufacturers’ goals of bringing dozens of new EV models to U.S. showrooms by 2025.“There …read more […]

(Bloomberg) — Uber Technologies Inc. and Lyft Inc. face the gravest threat yet to their business models after an appeals court ruled they must treat their drivers in California as employees instead of independent contractors.The bombshell decision Thursday comes less than two weeks before an election in which the ride-hailing companies are counting on voters to approve a ballot measure that would partially exempt them from the labor law at issue in the legal fight. If the vote doesn’t go their way, Uber and Lyft are threatening to shut down in their home state.The ruling upheld a lower court’s order …read more […]

Tesla Inc (NASDAQ: TSLA) received high praise from the CNBC “Mad Money” host Jim Cramer on Thursday in the aftermath of the company reporting third-quarter earnings.What Happened: “They have left the old-school automakers in the dust,” Cramer said, analyzing the Q3 results of the Elon Musk-led company.Cramer said he was “wrong” about counting Tesla among his list of cult stocks. “It’s not a cult stock, as I once thought,” the former hedge fund manager said.Earlier this week, the CNBC host had noted, “I’ve always said Tesla’s a cult stock, even after I joined the cult last year. That shareholder base …read more […]

U.S. S&P 500 E-minis were down 0.1% at 3,445.75 points at 0230 GMT. The S&P 500 index closed down 0.5% at 3,453.49 on Thursday. The dollar was a few pips higher, while the safe-haven yen was up 0.1% at 104.71 per dollar. …read more […]

(Bloomberg) — President Donald Trump and Democratic nominee Joe Biden faced off for the last time before the Nov. 3 election. Bloomberg News is checking the facts behind their claims in Thursday’s debate:Trump claims Biden supports the Green New DealBiden has never offered a full-throated endorsement of the far-reaching progressive climate plan known as the Green New Deal, but he has released a climate plan that aligns with many of its environmental goals.The $2 trillion clean energy plan offered by Biden in July calls for achieving a carbon-free power sector by 2035, as well as spending to build renewable energy …read more […]

The potential deal would illustrate how Scharf is looking at drastic moves, beyond cost cuts, as he seeks to turn Wells Fargo around following a years-old sales practices scandal. Wells Fargo’s asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, two of the sources said. The San Francisco-based bank has discussed a potential deal with asset management companies and private equity firms, according to the sources, who cautioned that a divestment is not certain and asked not to be identified because …read more […]

The potential deal would illustrate how Scharf is looking at drastic moves, beyond cost cuts, as he seeks to turn Wells Fargo around following a years-old sales practices scandal. Wells Fargo’s asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, two of the sources said. The San Francisco-based bank has discussed a potential deal with asset management companies and private equity firms, according to the sources, who cautioned that a divestment is not certain and asked not to be identified because …read more […]

(Bloomberg) — Intel Corp. shares slumped after a surprise drop in data center sales and a tepid forecast added to concern that the company is losing its lead in computer chips.The data center business, a major source of Intel profit, suffered a 10% decline in third-quarter revenue compared with a year earlier after a weak economy hurt sales to large companies and government customers. Sales to cloud computing providers will slow in the current period, Intel said.Falling prices and narrowing profit margins reinforced concern that Intel is losing its lead in chip manufacturing technology, exposing the company to the strongest …read more […]

Trump may be lagging in the polls, but that does not automatically count him out…
Incumbents are notoriously hard to beat. And as the election is decided by the electoral college, Trump could still pull out a victory without a majority of the voters supporting him.
That is what happened in 2016. So, if he wins, you will want to have your wish list ready.
There are three stock themes that will work during a Trump presidency: guns, gold and energy.
These three sectors should explode. Let me explain why.
Stocks to Buy if Trump Wins
Guns
You can expect civil unrest to ramp up, as those …read more […]

On Saturday morning, I’m going to gulp, put one foot forward and then start running straight uphill. Once I get started, I won’t stop moving for the next 11 or 12 hours.
After a year of training and five canceled races, I’m about to run a socially distanced ultramarathon.
This ultramarathon is called the “S3.” The “S” stands for “Sinister.” The course covers 66 kilometers and 9,000 feet of elevation in Rocky Mountain trails in Crowsnest Pass, Alberta.
But finishing the race won’t be the most important thing that happens to me on that day…
My wife, Stacey, and I will be celebrating our …read more […]