Year: 2020

Founder’s Note: I’ve lived a good life. I’ve stayed in some of the swankiest hotels on the planet… ate at some of the best restaurants… and fished with some of the richest men on the planet. But when it comes to the topic of “living rich,” I yield to Mark. He’s taken the idea to the next level. He’s made teaching others how to do it his life’s mission. Over the next few issues, he’s going to share some of his best tips for leading a “rich guy” lifestyle without breaking the bank. This is going to be fun. – …read more […]

(Bloomberg Opinion) — Tesla Inc.’s march to a $275 billion market capitalization has been pretty galling for Germany, the birthplace of the automobile. But the pain is felt most acutely at Daimler AG, which used to be a large Tesla shareholder.Had the owner of the luxury Mercedes-Benz brand kept hold of the almost 5 million shares it offloaded in 2014, they would now be worth about $7.3 billion by my calculation — a sum that’s equivalent to two-thirds of Daimler’s current net industrial cash position.(1)In the annals of ill-timed investment decisions, that stake sale doesn’t quite match the U.K.’s flogging …read more […]

When close to half the companies in the United States have price-to-earnings ratios (or “P/E’s”) below 16x, you may… …read more […]

Top news and what to watch in the markets on Friday, July 17, 2020. …read more […]

New York Rep. Gregory Meeks (D) joins Yahoo Finance to discuss the outlook on additional coronavirus stimulus in Congress and the changes coming to the Consumer Financial Protection Bureau. …read more […]

(Bloomberg) — SoftBank Group Corp. quietly sold an additional $2.2 billion of its stake in Alibaba Group Holding Ltd. as part of the Japanese conglomerate’s fund-raising effort to pay down debt and buy back its own shares.The deal, which includes a collar contract and call spread, is expected to be settled between May 2024 and June 2024. The details were disclosed on page 276 of SoftBank’s year-end financial filing released on June 25, but have not been previously reported. A SoftBank Group spokesman confirmed the details of the sale.This step is the latest in an unwinding of a relationship between …read more […]

(Bloomberg) — SoftBank Group Corp. quietly sold an additional $2.2 billion of its stake in Alibaba Group Holding Ltd. as part of the Japanese conglomerate’s fund-raising effort to pay down debt and buy back its own shares.The deal, which includes a collar contract and call spread, is expected to be settled between May 2024 and June 2024. The details were disclosed on page 276 of SoftBank’s year-end financial filing released on June 25, but have not been previously reported. A SoftBank Group spokesman confirmed the details of the sale.This step is the latest in an unwinding of a relationship between …read more […]

(Bloomberg) — Oil fell on signs that the recovery in oil consumption may be starting to slow.Futures in New York fell below $41 a barrel after struggling to surpass their highs from June in recent days. Indian road fuel sales fell in the first half of July as localized virus lockdowns occurred in several cites, and the Chinese city of Urumqi locked down some areas amid fears of another outbreak in the country. American unemployment figures barely dropped last week, highlighting the risks to a broader economic recovery.Though demand concerns are returning in some of the world’s largest consuming regions, …read more […]

Vaccine-focused biopharma Dynavax Technologies (DVAX) has announced a collaboration to develop a universal influenza (flu) vaccine with the Icahn School of Medicine at Mount Sinai.Mount Sinai’s work in this area is funded under a contract award from the National Institute of Allergy and Infectious Diseases (NIAID), as part of the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program.The Mount Sinai CIVICs team will evaluate a novel approach they have developed called chimeric hemagglutinin (cHA) designed to protect against all strains of influenza in combination with Dynavax’s CpG 1018TM adjuvant.Adjuvants are added to a vaccine to boost the immune response to produce …read more […]

Daimler will stop building Mercedes-Benz sedans in the United States and Mexico as it seeks deeper cuts after posting a smaller-than-expected quarterly loss. The German automaker will halt output of its Mercedes-Benz C-Class sedan in Tuscaloosa, Alabama, leaving the plant producing sport utility vehicles (SUVs) only, it said. “Daimler pre-released better-than-consensus second-quarter numbers,” Jefferies analyst Philippe Houchois said in a note. …read more […]

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Norwegian Cruise Line Holdings (NCLH) has announced that it has priced its $250M offering of 16,666,667 ordinary shares at a price to the public of $15.00 per share. Shares in NCLH plunged 16% in Thursday’s trading, bringing the share price down to $15.61.NCLH has also granted the underwriters an option to purchase up to 2,500,000 of additional ordinary shares, which must be exercised on or before August 17, 2020.The offering is expected to close on July 21, 2020, subject to customary closing conditions. The company says it expects to use the net proceeds from the offering for general corporate purposes.J.P. …read more […]

(Bloomberg) — Sanofi is studying potential acquisitions of U.S. biotechnology companies including Principia Biopharma Inc. as it seeks innovative treatments for clinical areas including multiple sclerosis and immune disorders, people with knowledge of the matter said.The French drugmaker is working with advisers to study potential deals, the people said, asking not to be identified because the information is private.Chief Executive Officer Paul Hudson, who joined last year, is seeking to rejuvenate Sanofi by focusing on fast-growing areas where new medicines command high prices. There’s no certainty the deliberations will lead to a transaction, according to the people.Sanofi shares were little …read more […]

The shares of Norwegian Cruise Line Holdings Ltd (NYSE: NCLH), Carnival Corp. (NYSE: CCL), and Royal Caribbean Cruises Ltd (NYSE: RCL) continued to dip in the after-hours session Thursday, as the Centers For Disease Control and Prevention extended its ban on cruise sailing in the United States.What Happened In an order Thursday, the CDC extended the suspension of “passenger operations on cruise ships with the capacity to carry at least 250 passengers in waters” through September 15.”If unrestricted cruise ship passenger operations were permitted to resume, passengers and crew on board would be at increased risk of COVID-19 infection and …read more […]

British Airways is permanently grounding its jumbo jets which are nicknamed “the queen of the skies”. …read more […]