Month: October 2020

It’s official. All bets are closed.
We’ve been getting up before sunrise and writing this letter for four years… and nobody has shut us down.
Somebody, somewhere has lost some money.
The odds were against us. The truth doesn’t get much respect these days.
But we’ve found a way to tell it… and we even picked up a few misfit pals along the way.
If you’ve been with us for the past 1,250 or so essays, well, thank you.
Your loyalty means the world to us.
If you’re a bit newer to the page, our gratitude is just the same. Like-minded folks need a place to gather.
Heavy …read more […]

Company Expands Reseller Network into Middle EastVANCOUVER, BC and ERIE, Pa., Oct. …read more […]

Generally speaking, investors are inspired to be stock pickers by the potential to find the big winners. You won’t get… …read more […]

Top news and what to watch in the markets on Tuesday, October 20, 2020. …read more […]

(Bloomberg) — Hong Kong’s Cathay Pacific Airways Ltd. will slash more than 5,000 jobs and close a regional carrier, the latest airline to enact a sweeping restructuring as the virus’s resurgence in the U.S. and Europe and the lack of a vaccine underscore the ongoing uncertainty in global aviation.Another 600 Cathay workers outside of Hong Kong may be affected, and 2,600 unfilled positions will be eliminated. The entire reduction of some 8,500 positions amounts to about 24% of Cathay’s headcount, one of the largest hits in the aviation sector globally since the outbreak started.The third prong of Cathay’s overhaul involves …read more […]

Donald Trump spent years cultivating business projects in China, where he maintained a previously unknown bank account, the New York Times reported. The President has spent recent days promoting a murky claim that his Democrat rival Joe Biden’s son Hunter sold access to his father in Ukraine and China when he was vice-president. It is Mr Trump, however, who maintained an office in China during his first run for president, and partnered with a major government-controlled company, the paper reported. He also keeps a previously unknown bank account in China, controlled by Trump International Hotels Management, according to an analysis …read more […]

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(Bloomberg) — Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a potential U.S. stimulus agreement.The American Petroleum Institute reported crude inventories climbed by almost 600,000 barrels, according to people familiar with the data. That would be the second gain in three weeks if confirmed by government figures on Wednesday. Futures advanced on Tuesday as U.S. lawmakers moved closer to a package to bolster the economic recovery from the virus-driven downturn.Oil’s recovery is facing pressure from a resurgent coronavirus and expanding supply from Libya, …read more […]

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(Bloomberg) — Snap Inc.’s co-founders got richer by billions of dollars in just a few hours, after the company reported better-than-expected results as the coronavirus pandemic boosted usage of its app.Shares soared as much as 25% to $35.57 in late New York trading after the owner of the popular Snapchat mobile app said sales jumped 52% to $678.7 million in the third quarter, with 249 million daily active users. The gains lifted the fortunes of Snap’s co-founders, Evan Spiegel and Bobby Murphy, by $1.3 billion and $1.4 billion, respectively, taking them to $6.9 billion and $7.2 billion, according to the …read more […]

Sweden’s Ericsson on Wednesday reported quarterly core earnings that beat market estimates, helped by higher margins and China’s 5G rollout, and said it was “more confident” in meeting its 2020 targets. Ericsson’s 5G contract wins have touched 112 as more telecom operators are building next-generation networks and as diplomatic pressure from the United States is pushing out market leader Huawei from more countries. Third-quarter adjusted operating earnings rose to 9.0 billion Swedish crowns ($1.0 billion) from 6.5 billion a year ago, beating the mean forecast of 6.98 billion crowns, according to Refinitiv estimates. …read more […]

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said that the automaker is rolling out the beta version of its full self-driving software, starting Tuesday night.What Happened: Musk tweeted that the rollout of the software will be “extremely slow [and] cautious, as it should.” The autopilot beta release would be “limited to a small number of people who are expert [and] careful drivers,” Musk said, earlier in the month. The billionaire entrepreneur had said on Twitter in August that the improvement in the FSD feature will be a “quantum leap,” and promised the beta launch would happen in six to 10 …read more […]

AMC’s move to raise fresh capital comes after ratings agency S&P said earlier this month that the company had just six months of cash reserves. “In the event the Company determines that these sources of liquidity will not be available to it or will not allow it to meet its obligations as they become due, it would likely seek an in-court or out-of-court restructuring of its liabilities,” AMC said in a filing. Big theater chains, including AMC and Cineworld Group , have reopened many of their locations, but fears of the virus and delays in major releases have …read more […]