U.S. gold futures were steady at $1,966.20. “People are keeping on the sidelines because of the Fed announcement coming up later today,” said Brian Lan, managing director at dealer GoldSilver Central in Singapore. “People are awaiting for more clarity on what monetary tools the Fed is expected to use to support inflation above 2%.” …read more […]
Families of Boeing 737 MAX crash victims are urging U.S. lawmakers to ensure the planemaker is held accountable for accidents that together killed 346 people by blocking a key legal defense, according to a letter sent on Tuesday and seen by Reuters. Chicago-based Boeing Co is facing around 100 lawsuits by families of 157 victims of an Ethiopian Airlines 737 MAX crash and has argued that because the aircraft was certified by the U.S. Federal Aviation Administration, it is immune from liability, court filings show. …read more […]
(Bloomberg) — Eastman Kodak Co., seeking to address the firestorm of allegations surrounding a Trump administration loan, said it mishandled the process of awarding stock option grants to its chief executive officer before the announcement.A legal review commissioned by Kodak found that the company’s general counsel didn’t properly brief the board on legal risks of providing the grants to Jim Continenza, the CEO and executive chairman, ahead of positive corporate news. He received the grants the day before the Rochester, New York-based company disclosed that it had been awarded $765 million to manufacture pharmaceutical materials as part of a Covid-19 …read more […]
Over 12,000 study participants had received a second dose of the vaccine, Pfizer executives said on an investor conference call. Pfizer said it was continuously scrutinizing the safety and tolerability of the vaccine in its study. The comments follow rival AstraZeneca’s COVID-19 vaccine trials being put on hold worldwide on Sept. 6 after a serious side effect was reported in a volunteer in Britain. …read more […]
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]
(Bloomberg) — The world’s biggest independent oil trader says global stockpiles of the commodity will keep shrinking, offering a starkly more bullish view of the crude market than some of its rivals.Vitol Group said inventories have been falling sharply and will continue to decline this year. Trafigura Group, the second-biggest trader, says the market will go back into a surplus. Both companies forecast demand to stagnate and foresee a volatile few months before a gradual recovery next year.Global stockpile growth peaked at about 1.2 billion barrels in early summer and inventories have since been drawn down by about 300 million …read more […]
(Bloomberg) — Zhang Yiming, founder of TikTok-parent company ByteDance Ltd., is showing Donald Trump he knows something about dealmaking too.In his proposal to partner with Oracle Corp. to address U.S. security concerns about the hit video app, the Chinese entrepreneur is offering Trump something the president has already declared unacceptable. The question now is whether Trump rejects the proposal, acquiesces or, perhaps most likely for the man behind the ‘Art of the Deal,’ opens negotiations for a compromise.The president has said that TikTok must be sold to an American owner — or shut down. What Zhang has proposed instead is …read more […]
(Bloomberg) — Zhang Yiming, founder of TikTok-parent company ByteDance Ltd., is showing Donald Trump he knows something about dealmaking too.In his proposal to partner with Oracle Corp. to address U.S. security concerns about the hit video app, the Chinese entrepreneur is offering Trump something the president has already declared unacceptable. The question now is whether Trump rejects the proposal, acquiesces or, perhaps most likely for the man behind the ‘Art of the Deal,’ opens negotiations for a compromise.The president has said that TikTok must be sold to an American owner — or shut down. What Zhang has proposed instead is …read more […]
Whatever your opinion on EV truck maker Nikola (NKLA), boring is one description that cannot be attached to the company and its assorted shenanigans.After inking a credibility boosting deal with auto giant General Motors last week, the bears came out dancing, after a withering report from Hindenburg Research accused the company of fraudulent activites. The euphoria was replaced by alarm as reflected by the stock’s steep decline. It now turns out the US Securities and Exchange Commission (SEC) is looking into the allegations, which no doubt will further fan the flames of controversy surrounding Nikola and headline grabbing founder Trevor …read more […]
The market pendulum is swinging from one side to the other, making it difficult to predict its trajectory from one session to the next. However, in the all or nothing world of biotechs, some things will always remain the same. Case in point: Marinus Pharmaceuticals (MRNS) shares surged nearly 50% in Tuesday’s trading session, following the release of positive clinical trial data.On Monday evening, Marinus announced that in the phase 3 clinical trial of oral ganaxolone for the treatment of CDD (CDKL5 deficiency disorder) – a rare inherited type of epilepsy with treatment-resistant seizures – the study achieved the primary …read more […]
(Bloomberg) — Cloud-data software maker Snowflake Inc. priced its initial public offering at $120 a share, above the marketed range, according to a person familiar with the matter who asked not to be identified.The San Mateo, California-based company planned to sell 28 million shares for $100 to $110 each, a range that was boosted from $75 to $85, according to filings with the U.S. Securities and Exchange Commission.Snowflake, founded in 2012, is a rare challenger to Amazon as a provider of public cloud storage and services. In the fiscal year that ended Jan. 31, Snowflake’s revenue soared 174% to $264.7 …read more […]
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The consideration, which has not been previously disclosed, underscores AT&T’s commitment to the advertising business as the U.S. phone carrier reviews its portfolio to identify assets to sell in order to reduce its debt load. AT&T is considering selling its advertising-technology unit Xandr, sources familiar with the matter have told Reuters. “I believe there’s a segment of our customer base where given a choice, they would take some load of advertising for a $5 or $10 reduction in their mobile bill,” Stankey said. …read more […]
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