Articles by admin

(Bloomberg) — To understand why physical crude oil prices are rising across Europe, look to Russia.The country, one of the world’s largest producers, is curbing its exports to multi-year lows. That’s helped to increase demand for other European grades and recently boosted their values in the market where actual barrels of oil are traded.Combined shipments of Urals crude from Russia’s Baltic and Black Sea ports are set at about 880,000 barrels a day in the first 10 days of July, according to Bloomberg calculations from loading programs. If that rate holds for the remainder of the month, it would be …read more […]

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The latest reason cited by the Nasdaq is in addition to the two bases disclosed last month – public concerns raised by the fabricated transactions and the company’s failure to disclose material information. The Chinese company, which competes with U.S. coffeehouse Starbucks, said the failure to file its annual report was due to delays caused by the COVID-19 pandemic and as it awaits the result of the internal probe. Luckin’s shares have plunged more than 85% since April since the internal probe was announced and has resulted in the company defaulting on a loan secured by pledging millions …read more […]

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Those of us in the authentic food and ecological farming tribe often cite externalized costs as one of the failings of the agri-industrial farming complex.
We point out that the cheap price of food at the cash register does not cover all sorts of things: half of all diarrhea cases, 700 riparian dead zones (the largest of which is the size of Rhode Island in the Gulf of Mexico), superbugs like MRSA and C. diff, antibiotic resistance, asthma for neighbors…
Oh, and animal abuse, health problems for workers, soil erosion…
The list is long and glorious to recite. I’ve done it many times …read more […]

Top news and what to watch in the markets on Tuesday, June 23, 2020. …read more […]

(Bloomberg Opinion) — It’s growing more likely by the day that we’ve reached peak “bored retail trader” in the financial markets.Bloomberg News, The Wall Street Journal and seemingly every financial news publication has now profiled Dave Portnoy, founder of the website Barstool Sports, who has turned to day-trading stocks with sports on hold because of the coronavirus pandemic. Robinhood Financial’s trading app is all the rage, being credited with the shocking rally in shares of bankrupt Hertz Global Holdings Inc. that almost prompted an unthinkable offering of potentially worthless stock. My Bloomberg Opinion colleague Matt Levine has called this entire …read more […]

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(Bloomberg) — Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over U.S.-China trade.Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After earlier dropping 2.4%, crude is now back above $40 a barrel, bolstered in recent days by a lifting of lockdown restrictions in some U.S. states, while physical crude prices have also climbed.Oil has rebounded since plunging below zero in April and is …read more […]

(Bloomberg) — French drugmaker Sanofi expects to win approval for a Covid-19 vaccine in the first half of next year as it strengthens a pact with Translate Bio Inc. to develop other shots in a deal that could be valued at as much as $2.3 billion.The experimental coronavirus vaccine that Sanofi is developing with GlaxoSmithKline Plc was previously targeting approval in the second half of 2021.Sanofi’s program with Glaxo is one of dozens sprinting to deliver a vaccine to help end the pandemic. Others like the university of Oxford, working with AstraZeneca Plc, Moderna Inc. and CanSino Biologics Inc. have …read more […]

(Bloomberg) — Tencent Holdings Ltd.’s shares just hit three milestones in a single day.The Chinese internet and gaming giant rose 4.9% to a record HK$497.40 in Hong Kong on Tuesday, leapfrogging Alibaba Group Holding Ltd. as Asia’s most valuable company. It’s also now doubled in value since a low in 2018, a year in which China’s restrictions on online games triggered the world’s biggest wipeout of shareholder wealth. The Shenzhen-based firm is worth $613 billion, the seventh most globally.Tencent has for years captivated investors and analysts with its massively popular online gaming business, payments system and WeChat social networking platform. …read more […]

The Monetary Authority of Singapore (MAS) has received a license application from scandal-hit electronics payments firm Wirecard under the country’s new Payments Services Act, the central bank said on Tuesday. It said Wirecard’s primary business activities in Singapore are to process payments for merchants and help companies issue pre-paid cards. Wirecard is operating under an exemption until the new law comes into force. …read more […]

(Bloomberg) — Tencent Holdings Ltd. surged toward a record Tuesday after a $305 billion rally since its 2018 low.The stock rose as much as 5.1% Tuesday, putting Tencent on pace for its highest-ever close. Shares, poised to have their best month since January 2012, have surged nearly 50% from March’s bottom to send Tencent’s market value above HK$4.7 trillion ($606 billion).After doubling in 2017, shares were almost halved at one point the following year as gaming approvals dried up and a slowing economy in China cooled advertising demand. But gaming has been a strong point in 2020 for Tencent in …read more […]

(Bloomberg) — China has penalized 10 of the country’s most popular livestreaming apps, suspending some of their operations in a renewed crackdown on fast-growing services backed by Tencent Holdings Ltd. and ByteDance Ltd.Regulators singled out ByteDance’s Xigua and three apps run by Tencent-backed firms — Bilibili Inc., Huya Inc. and DouYu International Holdings Ltd. — among those subject to punishments ranging from halting new user sign-ups to suspending content updates for “main channels,” the Cyberspace Administration of China said in a notice posted Tuesday. The watchdog said those services must rectify vulgar and other problematic content and that it’s blacklisted …read more […]

American Airlines Group Inc. (AAL) is planning to upsize its share and convertible bond sale to $2 billion, Bloomberg reports.According to the report the ailing US carrier will sell $1 billion of new shares in the offering, while a person familiar with the matter told Bloomberg that the shares will be priced at $13.50/share.This represents a 10% discount to Monday’s closing price, with shares falling 7% during the day’s trading. That brings the stock’s total year-to-date loss to 48% as AAL grapples with the financial fallout of the travel freeze triggered by the coronavirus pandemic.At the same time, the convertible …read more […]