Year: 2020

Henrik Fisker is raising $2.9 billion to build and market the Fisker Ocean all-electric compact SUV …read more […]

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Pinterest also benefited from its updated shopping feature, with the percentage of users who visited shopping-only feeds growing more than 50% in the first half of the year. It forecast year-over-year revenue growth for July of about 50% through July 29th. Pinterest’s total revenue rose 4% to $272 million, beating analysts’ average estimate of $251.2 million. …read more […]

The 2020 outlook for West Texas Intermediate rose to $37.51 per barrel from June’s $36.10. Oil is “caught-up in a step-wise re-balancing process” with the “pieces moving in the right direction” on the supply side, said Harry Tchilinguirian, head of commodity research at BNP Paribas. A promising vaccine for the virus could, however, fast-track economic recovery and in turn boost oil prices, analysts said. …read more […]

Pinterest, Inc. (NYSE:PINS) shareholders should be happy to see the share price up 28% in the last quarter. But that… …read more […]

Microsoft Co-Founder Bill Gates joins ‘Influencers with Andy Serwer’ to discuss the Trump administration’s handling of the COVID-19 pandemic.
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In 2008, a housing crisis brought down the economy.
In 2020, it could bring down capitalism.
The idea is simple. As we write, 1 out of 3 renters is behind on their payments.
Two clear signals show this is a disaster in the making.
We’ll start with the financial fallout. It’s quite clear.
If folks don’t pay their rent, they lose the roof over their head. The effects of an eviction can span generations.
Of course, if renters don’t pay, landlords are in trouble too. Many landlords – even the big ones so many folks love to hate – collect the rent check with one hand …read more […]

Microsoft Co-Founder Bill Gates joins ‘Influencers with Andy Serwer’ to discuss the U.S. federal government’s pandemic response and how it can improve. …read more […]

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(Bloomberg) — The savers are getting restless.Running out of guaranteed ways to get meaningful returns, some people are increasingly being tempted to raid their interest-earning cash savings to load up on assets such as bitcoin, gold and stocks. The comfortable, if small, returns of high-yield savings accounts are looking less palatable as volatile assets take off.For a while, Brian Harrington, 28, had been satisfied with a high-yield savings account at Ally Bank, earning a risk-free 2%. Now, the marketing consultant in Anaheim, California, is planning to convert his remaining $15,000 in savings into bitcoin. He thinks the future is one …read more […]

IAG group says recovery will take at least three years as it announces plans to raise billions in new funds. …read more […]

Finnish telecom network equipment maker Nokia reported an unexpected rise in second-quarter underlying profit on Friday as it took on less low-margin business particularly in China, sending its shares up 13% in early trade. Cutting less-profitable service business and not winning 5G radio deals in the cut-throat Chinese market helped Nokia, where new Chief Executive Pekka Lundmark takes over this weekend, upgrade its earnings outlook for 2020. “We do not mind trading poor revenue which doesn’t have high quality margin for better revenue,” outgoing chief executive Rajeev Suri told Reuters. …read more […]

(Bloomberg) — Gold is set for the biggest monthly gain in more than four years after a weaker dollar and low rates fueled its surge to a record. Silver headed for its best month since 1979.Spot bullion is up 11% in July as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve currency of choice is at risk, and U.S. real yields fell to a record low. While the ferocity of gold’s rally cooled as the week wore on, it’s only about $10 shy of its all-time high and most market watchers predict there may …read more […]

(Bloomberg) — Nokia Oyj bumped up its full-year earnings guidance after slashing costs and overhauling its products to catch up with rivals in the market for fifth-generation wireless networks.The company expects diluted earnings per share of 0.25 euro cents, plus or minus 5 cents, versus a previous projection for 0.23 euro cents.Adjusted operating profit for the second quarter was 423 million euros, beating average analyst estimates of 289.8 million euros according Bloomberg-tracked ratings.Key InsightsChief Executive Officer Rajeev Suri’s last results as CEO mark a low-point for Nokia after it lost ground to competitors in 5G mobile networks and the coronavirus …read more […]

(Bloomberg Opinion) — When Nikola Corp. started trading on Nasdaq in June, the Phoenix-based clean transportation company raced quickly to a valuation of almost $30 billion.Its market worth has since fallen to a more reasonable $10.5 billion, but that’s still pretty spicy for a business yet to generate any revenue. Its most promising products are its heavy trucks, powered by electric batteries or hydrogen fuel cells.The rise of Nikola (whose name, cheekily, is another evocation of electrical engineer Nikola Tesla) will have reinforced a view among European auto industry executives that the U.S. stock market operates by different rules. While …read more […]