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Trump Expands Aluminum, Steel Tariffs to Some Imported Products

(Bloomberg) — The Trump administration expanded its trademark steel and aluminum tariffs to cover certain imported nails, staples, electrical wires and some downstream parts that go into automobiles and tractors, among other products.The decision comes almost two years after the administration implemented tariffs on imports of foreign raw steel and aluminum that President Donald Trump said threatened the viability of the domestic industries and therefore threatened U.S. national security.Some imports of derivative aluminum products would be subject to an additional 10% duty, while some derivative steel products would be slapped with a 25% tariff, he said.Argentina, Australia, Canada and Mexico …read more […]

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Trump increases tariffs on derivative steel, aluminum products from some countries

U.S. President Donald Trump on Friday signed a proclamation increasing tariffs on derivative steel products by an additional 25 percent and boosting duties on derivative aluminum products by an additional 10 percent. Trump said Argentina, Australia, Brazil, Canada, Mexico and South Korea are exempt from the additional tariffs on derivative steel products, and Argentina, Australia, Canada and Mexico are exempt from the added duties on derivative aluminum articles. Trump has imposed tariffs on imported steel and aluminum to help boost U.S. production, which he says is a national security issue. …read more […]

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PG&E Probation Judge Threatens to Restrict Manager Bonuses

(Bloomberg) — PG&E Corp. could be ordered by a federal judge to restrict bonuses and incentives for supervisors and other high-ranking employees until the company meets obligations under its wildfire-prevention plan.As PG&E struggles to prove it can operate safely after a series of devastating wildfires blamed on its equipment. U.S. District Judge William Alsup threatened in a filing Friday to tie incentive pay “exclusively” to meeting goals for fire mitigation and other safety issues. He directed the company to explain in writing by Feb. 12 why he shouldn’t issue such an order.The bankrupt utility disclosed this month that it had …read more […]

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Owners of solar company that caused loss for Buffett plead guilty over Ponzi scheme

The husband-and-wife owners of DC Solar, a California solar company that caused Warren Buffett’s Berkshire Hathaway Inc to take a $377 million charge last year, pleaded guilty on Friday to involvement in an estimated $912 million Ponzi scheme. Jeff Carpoff, 49, pleaded guilty to money laundering and conspiracy to commit wire fraud, while Paulette Carpoff, 46, pleaded guilty to money laundering and conspiracy to commit an offense against the United States. …read more […]

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Is This What a Top Looks Like?

The stock market started 2020 like it ended 2019 – in rally mode. The gains took major averages to a series of new all-time highs.
The S&P 500 rose above 3,300, the Dow Jones Industrial Average surpassed 29,000 and the Nasdaq flew by 9,400.
Investors kept riding the winners of 2019. Tech stocks like Apple (Nasdaq: AAPL), Advanced Micro Devices Inc. (Nasdaq: AMD), Lam Research (Nasdaq: LRCX) and Nvidia (Nasdaq: NVDA) surged to start 2020. They have become “must-owns” for hedge funds and day traders.
Meanwhile, Tesla (Nasdaq: TSLA) continues to defy the skeptics while Virgin Galactic Holdings Inc. (NYSE: SPCE) has more …read more […]

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Canopy Growth (CGC): Why The Beverage Debacle Is a Big Problem

Canopy Growth (CGC) had an astonishing revelation prior to this past holiday weekend for the stock market. The new CEO was expected to reorganize the business, but a delay to the cannabis beverages business was an unexpected jolt to the Canadian cannabis company. One has to wonder what other issues will be disclosed as CEO David Klein completes his second week on the job.Beverage DebacleCanopy Growth shocked the market last week by admitting their cannabis-infused beverages were not ready to scale for the market. The news is surprising considering the company is already a month into the legalization of Cannabis …read more […]

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Tug-of-War With General Electric

War Room members are currently in a strangle position with General Electric (NYSE: GE).
A strangle is an options strategy that involves using put and call options to bet on a sharp move one way or the other in an underlying stock. The objective is to make enough from the move in one direction that it covers the cost of the strangle and then some.
Strangles are best used around specific binary events, resulting in two possible outcomes.
An earnings report is just one example…
Another example is the announcement of a drug trial, or events like the Brexit deal.
These “one-off” events can really …read more […]

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FAA administrator to tell U.S. airlines MAX approval could come before mid-year

Federal Aviation Administrator Steve Dickson is calling senior U.S. airline officials Friday to tell them that the agency could approve the grounded Boeing 737 MAX’s return to service before mid-year, a government official said Friday. FAA approval before mid-year could only happen if Boeing continues to make complete and thorough submissions, the official said, and emphasized that unforeseen issues could always potentially delay approval. …read more […]