Advertisements
Advertisements


Bitcoin Nears 2018 Post-Bubble Highs As Mainstream Adoption Drives Rally

(Benzinga) – Bitcoin’s (BTC) upward march continues unabated as the apex cryptocurrency gained 5.13% in a 24-hour period Tuesday — taking its market capitalization to $255 billion. What Happened: At press time, Bitcoin prices hovered just below the highs not seen since June 26, 2019, when the cryptocurrency touched $13,796.49, as per CoinMarketCap data. If Bitcoin were […]

Insurance firm Equitable inks $12 billion reinsurance deal with Venerable

(Reuters) – Equitable Holdings Inc (N:EQH) said on Tuesday it has entered into an agreement with Venerable Holdings Inc to reinsure about $12 billion in annuities, which will help the insurance firm to return capital to its shareholders.  Venerable, a privately held company, will reinsure legacy variable annuity policies sold between 2006 and 2008 under […]

Harley-Davidson is getting into the electric bicycle business

(techcrunch) – Harley-Davidson has spun out a new business dedicated to electric bicycles and plans to bring its first line of products to market in spring 2021. The new business called Serial 1 Cycle Company started as a project within the motorcycle manufacturer’s product development center. The name comes from “Serial Number One,” the nickname for […]

Advertisements
Advertisements

To Save the Planet, Get More EVs in Used Car Lots

(wired.com) – ELECTRIC VEHICLES ARE getting more popular. Now they’re getting flashy too: new electric pickup trucks, new electric semis, new electric sports cars, a new electric G-Wagen. But all that zippy sexiness only matters to a small slice of the US. Seventy percent of the vehicles sold in the country last year were used, […]

Wall Street banks and their staff are leaning left

WASHINGTON (Reuters) – Wall Street banks and their employees have been leaning left in recent years, increasing the proportion of cash allocated to Democrats.  Some of that has been prompted by the industry’s bid to rebuild the bipartisan support it enjoyed before the 2009 financial crisis, which turned many Democrats against the industry. Here is […]

AMD to buy chip peer Xilinx for $35 billion in data center push

Oct 27 (Reuters) – Semiconductor designer Advanced Micro Devices Inc (AMD) on Tuesday said it has agreed buy Xilinx Inc in a $35 billion all-stock deal that will intensify its battle with Intel Corp in the data center chip market. The deal, which AMD expects to close at the end of 2021, would create a […]

India’s FreshToHome raises $121 million to grow its meat and vegetable e-commerce platform

(techcrunch.com) – FreshToHome, an Indian e-commerce startup that sells fresh vegetables, fish, chicken and other kinds of meat, has raised $121 million in a new financing round as the Bangalore-headquartered firm reports accelerated growth spurred by the coronavirus pandemic. The startup, which offers its service in several major Indian cities including Delhi, Mumbai, Pune, Bangalore, […]

Big Tech earnings approach under antitrust cloud

(Reuters) – Apple (O:AAPL), Alphabet (O:GOOGL), Amazon (O:AMZN) and Facebook (O:FB), together accounting for about a fifth of the S&P 500’s total value, report their quarterly results on Thursday, with their stocks trading near record highs, even as they face increasing antitrust scrutiny. Amazon and Apple have surged 74% and 57%, respectively, this year, far […]

Advertisements

South Korea pension fund to oppose LG Chem battery spin-off plan

SEOUL (Reuters) – South Korea’s National Pension Service (NPS) will oppose LG Chem’s (KS:051910) plan to separate its battery business into a new company, the NPS said on Tuesday.  It cited concerns about damage to shareholder value, including the possibility of diluting the equity value.  LG Chem said in a statement that it very much […]

EUR/GBP Analysis: Brexit Hopes Bolster Pound Sterling

EUR/GBP PUSHES LOWER AFTER BREXIT OPTIMISM (dailyFX) – Optimism around Brexit negotiations were supported by the EU chief negotiator, Michel Barnier who has decided to stay in London until Wednesday in hopes of striking a deal with the UK. This will be followed by further meetings in Brussels. If a deal is reached within 2/3 […]

How Biden and Trump differ on housing-finance reform.

(Market Watch) – For more than a decade, housing-finance giants Fannie Mae and Freddie Mac have remained in conservatorship after being bailed out amid the Great Recession. Fannie and Freddie’s investors have been kept in limbo throughout those years — they’ve watched as the enterprises’ profits were swept to the Treasury Department to repay the […]

Bayer to acquire AskBio in foray into gene therapy worth up to $4 billion

(Reuters) – Bayer (OTC:BAYRY) agreed to acquire unlisted U.S. biotech firm Asklepios BioPharmaceutical Inc for as much as $4 billion in a bet on gene therapy with the help of modified viruses. Germany’s Bayer will pay $2 billion upfront and up to an additional $2 billion in milestone payments contingent on development achievements, it said […]

Advertisements

How Technology is Helping People During COVID-19

(thecompetenza.com) – COVID-19, does it need an introduction- I bet it doesn’t? A deadly devil virus that came from Wuhan – Corona virus (aka COVID-19) has turned everyone’s life upside down. Suddenly life has become something that we never expected. Now, the only way to survive is to be safe, rather than being sorry. So please ensure […]

Hummer EV ‘Revolutionary Truck’ has a UI built on Unreal Engine and runs Android

(Engadget) – On Tuesday night GMC took the wraps off of its upcoming Hummer EV, a 1,000HP “supertruck” that’s powered by up to three electric motors and its new Ultium battery setup. But inside the new Hummer, there’s a 12.3-inch driver information display and 13.4-inch infotainment screen. This is the first in-car system designed on Unreal […]

Adidas to sell Reebok business – manager magazin

FRANKFURT/MUNICH (Reuters) – German sportswear company Adidas is planning to sell its Reebok division, Germany’s manager magazin reported on Thursday, as the group seeks to put an end to the ill-fated investment in the U.S.-focused brand. Adidas plans to complete the sale by March 2021, the magazine said, without citing where it obtained the information. […]

American Airlines, Southwest post deep losses and renew calls for aid

(Reuters) – American Airlines (O:AAL) and Southwest Airlines (N:LUV) each reported deep losses in the third quarter on Thursday, but said they would burn less cash in the months to come as leisure bookings show signs of recovery from this year’s coronavirus-driven collapse. They warned, however, that passenger traffic would remain fragile until a COVID-19 […]

Can PayPal Stock Live Up to the Q3 Hype? Analyst Weighs In

(TipRanks) – The adoption of e-commerce and rise of digital payments have been some of 2020’s key trends. PayPal (PYPL) has been one of the prime beneficiaries. The evidence was clear to see in its Q2 performance – PayPal’s strongest quarter since becoming an independent public company. The market has rewarded the performance, and shares […]

Advertisements

McAfee’s IPO Raises $740 Million in Return to Public Market

(Bloomberg) – McAfee Corp. and its shareholders raised $740 million in an initial public offering priced within a targeted range as the cybersecurity software provider returns to the stock market. The company and some of its investors sold 37 million shares for $20 apiece Wednesday, according to a statement. McAfee had marketed 31 million shares […]

Ant Investors Will Have to Commit Days Before U.S. Election

(Bloomberg) – Jack Ma’s Ant Group Co. is asking buyers of what could be the world’s biggest-ever initial public offering to commit to the deal just days before the U.S. presidential election. The Chinese fintech giant will price the Shanghai portion of its dual listing on Oct. 27 and allow subscriptions on Oct. 29, it […]

GM, Cruise To Seek NHTSA Approval For Self-Driving Cars With No Wheels, Pedals

(Benzinga) – General Motors Company GM 0.53% and subsidiary Cruise LLC are seeking regulatory approval for running a number of self-driving vehicles that have no steering wheels or pedals, the company announced Wednesday. What Happened: The Cruise Origin vehicles will be deployed in the coming months, provided it is approved by the U.S. National Highway Traffic Safety Administration. At the […]

Stocks Drop, Dollar Gains on Election Interference: Markets Wrap

(Bloomberg) — U.S. and European equity futures retreated with Asian shares, and the dollar edged higher, after a top American intelligence official said that Russia and Iran have attempted to interfere in next month’s presidential election. S&P 500 contracts dropped, and shares in Hong Kong and Sydney saw modest losses. Treasury yields dipped, though remained […]

Facebook Rolls Out Dating Service In Europe Amid High Regulatory Scrutiny

(Benzinga) – Facebook Inc FB 4.17% said Wednesday that it was expanding its dating service to Europe, already available in 20 countries outside the continent — including the United States. What Happened: The opt-in service lets members find “meaningful relationships” based on common interests, events and groups, according to a Facebook statement. The dating service of the Mark Zuckerberg-led company […]

Advertisements

Oil Falls After Report Points to Surprise Crude Stockpile Gain

(Bloomberg) — Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a potential U.S. stimulus agreement. The American Petroleum Institute reported crude inventories climbed by almost 600,000 barrels, according to people familiar with the data. That would be the […]

AstraZeneca Could Resume US COVID-19 Vaccine Trial This Week As FDA Review Complete: Report

(Benzinga) – The U.S. Food and Drug Administration (FDA) has completed a review of adverse events observed in participants of AstraZeneca Plc’s (NASDAQ: AZN) COVID-19 vaccine clinical trial, according to Reuters. What Happened: The U.S. trial of the British company’s vaccine candidate could resume as soon as this week, people familiar with the matter told Reuters. It remains unclear how […]

Why is Logitech Rallying After Earnings

Logitech International SA (NASDAQ: LOGI) beat top and bottom-line expectations in the fiscal second quarter of 2021, Monday overnight. President and CEO Bracken Darrell believes that the adoption of remote work culture coupled with the booming esports markets will be crucial factors that could positively affect the company’s performance in the short and long-term. Key Highlights For The Quarter: […]

Sweden Bans Huawei, ZTE From New 5G Infrastructure

(Bloomberg) — Sweden has banned Huawei Technologies Co. and ZTE Corp. from gaining access to its fifth-generation wireless network, adding to the increasing number of European governments forcing local telecom companies to shift away from Chinese suppliers. The Swedish Post and Telecom Authority said in a statement Tuesday that the “influence of China’s one-party state […]

Advertisements

P&G raises forecasts as cleaning product sales boom

(Reuters) – Consumer goods giant Procter & Gamble Co raised its annual sales forecast on Tuesday, as it benefitted from a coronavirus-driven surge in demand which has driven sales of cleaning products as much as 30% higher. The company’s shares, already up 14% this year, rose almost 2% in early deals after it released numbers […]

Dave & Buster’s Seeks Liquidity From $500 Million Junk Bond Sale

(Bloomberg) — Dave & Buster’s Entertainment Inc., the chain that features sports bars and arcade games, launched a junk bond sale Monday that would give the company more liquidity and provide relief from Covid-19 pressures. The company is looking to borrow $500 million through the five-year secured note offering. Proceeds will repay a term loan […]

Danone Plans Biggest Shakeup in Years With Full Portfolio Review

(Bloomberg) — Danone is reviewing its entire portfolio for underperforming assets in Chief Executive Officer Emmanuel Faber’s biggest shakeup of the French yogurt maker, whose shares are languishing near a six-year low. The company is putting the Vega protein powder brand up for sale as well as a unit in Argentina, getting rid of businesses […]

European shares propped up by upbeat earnings

(Reuters) – European stocks rose in early trading on Monday as strong earnings updates from Dutch firm Philips and Swiss wealth manager Julius Baer overshadowed worries about fresh coronavirus restrictions across the continent. The pan-European STOXX 600 index (STOXX) rose 0.8% by 0711 GMT, resuming gains after posting small weekly losses. With European third-quarter earnings set to […]

Advertisements

Altice USA’s $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

(Benzinga) — Canadian telecom firm Cogeco Communications Inc’s (OTC: CGEAF) owners — the Audet family — rejected an enhanced hostile takeover attempt by Altice USA, Inc (NYSE: ATUS) on Sunday. What Happened: Louis Audet, the executive chairman of Cogeco, in a statement said that the family isn’t interested in the $8.4 billion hostile bid made by Altice. Audet claimed that this is “not a negotiating strategy, but […]

Ant Group gets Chinese nod for Hong Kong leg of $35 billion dual listing: sources

HONG KONG (Reuters) – Ant Group Co Ltd has received approval from China’s securities regulator for the Hong Kong leg of its roughly $35 billion dual listing, two people with knowledge of the matter told Reuters on Monday. The Chinese financial technology firm plans to list in Hong Kong and on Shanghai’s STAR Market simultaneously […]

China’s Next Problem Is Recycling 26 Million Tons of Discarded Clothes

(Bloomberg) — “Low-carbon, warmth, love,” reads the sign on a large green metal bin, into which Beijing resident Zhao Xiao stuffs her unwanted, old clothes. “If some poor Chinese person really needs them, that would be great and would make me feel less guilty about throwing them away,” said the 35-year-old resident of Dongcheng District. […]

Oil Steady Near $41 Before OPEC+ Meets to Assess State of Market

(Bloomberg) — Oil was steady near $41 a barrel in New York before an OPEC+ meeting to assess the state of the market as demand comes under pressure once again from a resurgent coronavirus. The Joint Ministerial Monitoring Committee, which typically reviews compliance to the group’s pledged output cuts, will meet online Monday. While no […]

Advertisements

NASA funds Nokia plan to provide cellular service on moon

(UPI) — NASA will fund a project by Nokia to build a 4G cellular communication network on the moon with $14.1 million, the space agency announced. That project was part of $370 million in new contracts for lunar surface research missions NASA announced Wednesday. Most of the money went to large space companies like SpaceX and United Launch […]

Ignore the Vaccine Noise, Johnson & Johnson Is in Rude Health, Says Top Analyst

(Tip Ranks) – It has been an action-packed week so far for pharma giant Johnson & Johnson (JNJ). On Tuesday, the company reported Q3 earnings with results handily beating the estimates. JNJ posted revenue of $21.08 billion, a 1.7% year-over-year increase and higher than the $20.21 billion consensus estimate. Non-GAAP EPS of $2.20 beat the […]

Nikola CEO Says Startup’s Plans Intact Even If GM Deal Unravels

(Bloomberg) — Nikola Corp.’s chief executive officer sees a path ahead for his company even if the embattled electric-truck startup is unable to come to terms with General Motors Co. on a proposed strategic partnership. Talks between the two companies are ongoing, but if a tentative technology-sharing and manufacturing deal announced last month falls apart, […]

Bill Gates Says Tech Giants Should Be Probed Separately If Regulators ‘Want To Get Serious’ About Antitrust Concerns

Microsoft Corporation MSFT 0.54% co-founder Bill Gates said Thursday at the GeekWire Summit that a more in-depth and company-specific approach is required by regulators in antitrust matters, CNBC reported. What Happened: The former executive touched on the subject of U.S. regulators probing Amazon.com, Inc AMZN 0.75%, Alphabet Inc GOOGL 0.51% GOOG 0.57%, Facebook Inc. FB 1.88%, and Apple Inc AAPL 0.4%. According to Gates, while scrutiny is important, the […]

Advertisements

Gold eases on buoyant dollar as U.S. stimulus bets fade

(Reuters) – Gold dipped on Thursday, languishing below $1,900, a key psychological level, as the dollar held on to recent gains after U.S. Treasury Secretary Steve Mnuchin dashed hopes for a new stimulus package before the presidential elections. Spot gold fell 0.2% to $1,897.47 per ounce by 0620 GMT, after rising as much as 1.2% […]

Hedge Funds Are Piling Into Novavax, Inc. (NVAX)

(Insider Monkey) – How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest […]

Stocks Decline on Earnings, Fading Stimulus Hopes: Markets Wrap

(Bloomberg) – Stocks slid Europe while U.S. futures dropped more modestly on Thursday after corporate earnings failed to re-ignite rallies and prospects wilted for new stimulus from Washington before the November election. The dollar rose with Treasuries. The Stoxx Europe 600 Index quickly headed toward its biggest drop in three weeks. Roche Holding slipped after […]

Advertisements

French billionaire Niel takes on Unibail with call to refocus on Europe

(Reuters) – French telecoms billionaire Xavier Niel has teamed up with the former boss of Unibail-Rodamco-Westfield (AS:URW) to oppose the shopping mall group’s planned 3.5 billion euro rights issue. Niel, founder of French broadband provider Iliad (PA:ILD), and Unibail’s former CEO Leon Bressler said they were heading a consortium of investors with a combined 4.1% stake in […]

Ford Delays Escape Hybrid SUV Production To 2021 Over Fire Incidents With Related Model

(BENZINGA) – Ford Motor Company F is delaying the production of its Escape hybrid plug-in SUV to 2021 after similar vehicles were recalled in Europe due to adverse incidents with a similar model, Bloomberg reported Monday. What Happened: The hybrid vehicle’s production was slated to start in spring but was postponed to summer due to the COVID-19 pandemic. Now, the manufacturing is […]

Top Battery Makers Discuss $20 Billion Indonesia EV Plans

Eko Listiyorini and Harry SuhartonoWed, October 14, 2020, 2:08 PM GMT+8·3 mins read (Bloomberg) — Contemporary Amperex Technology Co. Ltd. and LG Chem Ltd., two of the world’s top producers of batteries for electric vehicles, have signaled they may join projects that could see $20 billion more invested in supply chains in Indonesia, according to […]

ASML signals double-digit annual growth as quarterly sales jump

AMSTERDAM (Reuters) – Semiconductor equipment maker ASML Holding NV on Wednesday posted a better-than-expected quarterly earnings and forecast a double-digit growth for next year on strong end-demand for electronics devices. The company reported sales of 3.96 billion euros ($4.65 billion) in the third quarter ended Sept. 30, ahead of analyst estimates of 3.7 billion euros, […]

Asos adds three million customers as profits soar amid pandemi

(BBC) – Online fashion group Asos added three million customers in the past year, with annual profits jumping thanks to cost-cutting and buyers returning fewer items amid the pandemic. It now has 23.4 million customers, with more than seven million in the UK, where it makes the bulk of profits. Worldwide sales were up 19%, […]

Advertisements

Square’s $50M Bitcoin Investment Vote Of Confidence For Cryptocurrency’s Future, JPMorgan Says

(Benzinga) – JPMorgan analysts said Tuesday that Square Inc’s SQ 2.97% recent $50 million Bitcoin investment is a marker of the potential of the cryptocurrency as an asset, CoinDesk reported Monday. What Happened: The bank’s market strategists said in a report that the Jack Dorsey-led company is likely to make more Bitcoin purchases, according to CoinDesk. The analysts reportedly said that […]

Tesla cuts prices of Model S variant in United States, China

(Reuters) – Tesla Inc (O:TSLA) said on Tuesday it has cut the price of its Model S “Long Range” sedan by 4% in the United States, days after the electric-car maker reported record quarterly deliveries. The company, which is expected to report third-quarter results on Oct. 21, cut the price to $71,990 from $74,990 in […]

BlackRock quarterly profit jumps 27% on higher fees

(Reuters) – BlackRock Inc (N:BLK), the world’s largest asset manager, reported a 27% rise in third-quarter profit on Tuesday, helped by higher fees. The New York-based company’s net income rose to $1.42 billion, or $9.22 per share, in the three months ended Sept. 30, from $1.12 billion, or $7.15 per share, a year earlier. (https:// […]

SoftBank Exec Scoffs at Reports the Company Is a ‘Whale’

(Bloomberg) — SoftBank Group Corp.’s Rajeev Misra disputed reports the Japanese company had pumped up tech stocks through its options trading, saying no single investor has that kind of influence on the markets. SoftBank has been more actively putting money into public securities after selling off tens of billions in assets over the past six […]

Advertisements

Oil Rises Near $40 After Recovery in Chinese Crude Imports

(Bloomberg) — Oil edged higher as data showed Chinese crude imports rose last month. Futures in New York rose around 1.3% toward $40 a barrel. Chinese crude imports climbed 2.1% in September from August, the General Administration of Customs said Tuesday, in a positive sign for global demand. Buying was resilient against expectations for a […]

Audi to launch new electric vehicle venture with China’s FAW

BEIJING (Reuters) – German premium automaker Audi AG (DE:NSUG) said on Tuesday it had signed a memorandum of understanding with China’s state-owned FAW Group to launch a venture to make premium electric vehicles (EVs). Audi has a long partnership with FAW, which is based in the city of Changchun in the northeast of China, the world’s biggest […]

NYSE traders

Wall Street jumps at open, shaking off Trump’s stimulus shock

(Reuters) – Wall Street’s main indexes jumped 1% shortly after the open on Wednesday, recouping losses from the previous session triggered by President Donald Trump’s abrupt call to end stimulus talk, while Levi Strauss (NYSE:LEVI) hit a four-month high after posting a surprise quarterly profit. The Dow Jones Industrial Average (DJI) rose 198.60 points, or […]

For an Economic Crisis, This Is Not Such a Bad IPO Market

(Bloomberg) — Europe may be staring down the barrel of its worst recession in living memory, but its market for initial public offerings has held up well thus far, all things considered. “This is a very healthy IPO market given that we are in an economic recession,” said Manuel Esteve, Barclays (LON:BARC) Plc’s head of equity capital […]

Hedge funds make pandemic bet on insurance

LONDON (Reuters) – Five years after London-based hedge fund Toscafund ditched the shares it held in insurance companies, the $3.5 billion firm and its peers are flocking back, drawn by sharp premium increases which are lifting the sector’s post-coronavirus prospects. Insurers faced a surge in claims spanning trade credit to event cancellations as a result […]

Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
Advertisements
https://widget.sonetel.com/SonetelWidget.min.js