The Department of Labor has announced a proposal to amend “investing duties” regulations currently in place. Christine Hurtsellers, CEO of Voya Investment Management, joins The Final Round panel to discuss how this could impact retirement planning. …read more […]
(Bloomberg) — As many as two million Californians were plunged into darkness over the course of about four hours late Friday in the first rolling outages to hit the state since the 2001 energy crisis.The California Independent System Operator, which oversees the state grid, declared a Stage 3 emergency late Friday, initiating the outages that impacted about 750,000 homes with demand soaring from people blasting fans and air conditioners to keep cool. Record high temperatures were seen around the Bay Area, according to the National Weather Service, with San Francisco reaching 95 degrees Fahrenheit (35 degrees Celsius) and San Jose …read more […]
(Bloomberg) — President Donald Trump on Friday ordered the Chinese owner of the popular music video app TikTok to sell its U.S. assets, citing national security concerns and delivering the latest salvo in his standoff with Beijing.Trump’s decision came after an investigation by the Committee on Foreign Investment in the U.S., which reviews acquisitions of American businesses by overseas investors for national security concerns. ByteDance Ltd. bought the app Musical.ly in 2017 and merged it with TikTok.Trump said in the order released Friday night, which has a 90-day deadline, that ByteDance “might take action that threatens to impair the national …read more […]
U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war. Chinese state-owned oil firms have tentatively booked tankers to carry at least 20 million barrels of U.S. crude for August and September, the people said, moves that may ease U.S. concerns that China’s purchases are trending well short of purchase commitments under the Phase 1 of the trade deal. China had emerged as a top U.S. crude buyer, taking $5.42 billion …read more […]
It’s a particularly bullish start to the day for the majors. A Bitcoin move through to $12,000 would support an extended rally on the day. …read more […]
(Bloomberg) — Even for Citigroup Inc., it was big money. On Wednesday, loan operations staff at the New York bank wired $900 million, seemingly on behalf of Revlon Inc., to lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman.It was a mistake for the ages — a “clerical error,” as Citigroup told lenders — that’s now plunged the bank into a battle between the Perelman empire and a corps of sharp-edged investment funds that have become its impatient creditors.One financier involved likened the surprise payment to finding a fortune on the sidewalk. And, as of late Friday, several …read more […]
It’s been a bullish start to the day. A move back through the early highs would support another breakout day for the majors. …read more […]
Meng, 48, was arrested in December 2018 on a warrant from the United States which alleges that she misled the bank HSBC about Huawei’s business dealings in Iran. Meng’s lawyers submitted testimony from expert witnesses including John Bellinger, a former White House lawyer, as well as a Huawei Technologies Co Ltd presentation outlining its relationship with businesses operating in Iran, to back Huawei’s argument that the United States left out key facts about communication with HSBC about Huawei’s operations in Iran when requesting Meng’s extradition from Canada. …read more […]
United Parcel Service and FedEx on Friday shot down social media calls that they step in to deliver mail-in ballots from the U.S. Postal Service, which is warning states of potentially “significant” delays. “FedEx does accept individual ballots, and we advise that customers planning to return their ballots via FedEx should closely review their state’s guidelines on absentee voting and deadlines for ballots or related election documents,” FedEx said. …read more […]
To say it hasn’t been a good year for cruise line operators would be underselling the disaster 2020 has been. Amongst a sea of hurting industries, the pain inflicted by the coronavirus on cruise lines has arguably been second to none.However, following the delivery of its quarterly results on Monday, Royal Caribbean (RCL) shares popped by a handy 16%.Not that the surge came off the back of an estimate trouncing report. With no meaningful sailing to report in the quarter, revenue dropped year-over-year by a dispiriting 94% to $175 million, although the top line figure did manage to beat the …read more […]
Back on July 13, I wrote a Trade of the Day article called “Camping Stocks Could Give Post-COVID Wins.”
For a quick review, here’s what I said…
As the pandemic has taken people off hotels and planes, the result is that socially distanced outdoor holidays are enjoying a major popularity surge – lead by camping and “glamping” (a higher-end camping experience).
Some campsites are reporting a 400% spike in business, which makes the case for an increase in sales of tents, sleeping bags, camping furniture and cooking equipment.
And since the bulk of the demographic is coming from growth among families and 21- to …read more […]
Good things come to those who wait. For long standing Qualcomm (QCOM) investors the wait appears to be over.That’s not to say the past few years have been disastrous by any means; Qualcomm is after all the world’s largest mobile chipmaker. Yet, Qualcomm’s market performance hasn’t even closely resembled that of other all-conquering peers in the semiconductor sector, such as Nvidia, TSMC or AMD.However, a flurry of recent positive developments is quickly changing sentiment around this industry giant. The resolution of a Huawei patent licensing dispute and a recently overturned loss in Qualcomm’s favor from a 2019 antitrust case brought …read more […]
(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. added Barrick Gold Corp. to its portfolio in the second quarter, sending shares of the world’s second-largest miner of the metal surging.Berkshire took a new position in Barrick, buying 20.9 million shares, or 1.2% of the company’s outstanding stock, with a current market value of $565 million, according to a regulatory filing on Friday. The filing shows moves made by Buffett or his two investing deputies, Todd Combs or Ted Weschler.In the past, Buffett, the billionaire chairman of Berkshire, cautioned against investing in the metal because it’s not productive like a farm or …read more […]
They will make the same argument to the IRS, DraftKings CEO Jason Robins made clear on Yahoo Finance Live on Friday morning. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
