Donald Trump has ordered ByteDance to divest TikTok within 90 days, in a move to protect US security that will put more pressure on the Chinese technology group to sell the short-video app to an American company. Mr Trump also increased the pressure on the Chinese technology industry by ending a waiver that allowed certain
Month: August 2020
The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the new DraftKings office in Boston on March 25, 2019. David L. Ryan | The Boston Globe via Getty Images DraftKings sank more than 5% in premarket trading Friday after it said its loss for the second quarter widened
People are walking by the New York Stock Exchange (NYSE) building during Covid-19 pandemic in New York on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks could hang at record levels but gains may be capped until Congress agrees to a new stimulus package to help the economy and the millions
SoftBank Group chairman and CEO Masayoshi Son. (Photo by Tomohiro Ohsumi/Getty Images) Getty Images This spring, SoftBank, the Japanese conglomerate helmed by Masayoshi Son, backtracked on an offer to buy up to $3 billion of WeWork shares, a deal that would have netted the coworking firm’s cofounder Adam Neumann nearly $1 billion. It seemed, at
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019. Andrew Harrer | Bloomberg | Getty Images Consumers will have to pay more to refinance their mortgages after Fannie Mae and Freddie Mac announced that they are raising fees for lenders on the loans. The change is designed to
Municipal buyers are looking ahead to a hefty new-issue calendar, which features a wide variety of deals ranging from a huge note sale out of Texas to multi-billion dollar deals from issuers in Georgia, New York City and Los Angeles. IHS Ipreo estimates volume for the week of Aug. 17 at $11.46 billion in a
For many, finance is a popular field to enter with potentially lucrative results. While many universities advertise appealing career paths that their graduates go down after completing a finance degree, the truth is that many financial careers don’t require a college education. In fact, there are a host of finance jobs without college degree requirements.
Warren Buffett’s Berkshire Hathaway significantly cut its stakes in some of the largest US banks in the second quarter, selling billions of dollars worth of stock in Wells Fargo, JPMorgan Chase and other financial institutions. Berkshire Hathaway disclosed on Friday it had sold 85.6m shares of Wells Fargo in the quarter, reducing its stake from
Times have changed. The year 2020 has turned the economy upside down: stocks have risen in the early stages of a recession, interest rates have gone negative in some developed countries, Central Banks have created piles of cash out of thin air. Amid this odd environment, it is hard to know exactly what to expect
Pawnshops make money by providing personal loans, reselling retail items, and offering auxiliary services, such as money transfers or cellphone activation. Earning interest on loans and profits on retail sales are the principal income sources for the standard business model for a pawnshop. Pawnshops typically aim to generate overall net profit margins of at least
Palestinian leaders have condemned the historic deal announced by the United Arab Emirates and Israel that they are normalising relations, describing it as a “stab in the back” by one of the most powerful Arab states. They have dismissed as “a fig leaf” the declaration that Israel would suspend its annexation of Palestinian land as
Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in Brooklyn, New York, Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic. The move values the
Technicians work on machinery at the Applied Materials facility in Santa Clara, California. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell Thursday: Applied Materials — Shares of Applied Materials rose 1.2% in after-hours trading on the back of fiscal third-quarter results that beat analyst expectations. The
With China minting so many technology and healthcare billionaires of late, it’s easy to forget that the real estate industry is the main source of wealth for many of the country’s richest. China’s urbanization rate, an indicator of real estate demand, increased to more than 60% last year from only about a fifth in the
The off-price chain Stein Mart, which announced Wednesday it had filed for Chapter 11 bankruptcy protection, will officially be closing all of its stores for good. The company’s liquidators — a team of Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners — announced Thursday morning that Stein Mart
The Michigan State Building Authority hits the market as soon as next week with a deal to shed some floating-rate risks, bank interest rate savings and fund state capitol building upgrades. The deal offers $228 million of tax-exempt new money and refunding bonds and $561 million of federally taxable but state tax-exempt refunding. Another $33.3
Raytheon Technologies Corporation (RTX) reported better-than-expected earnings per share on July 28. The stock dropped to as low as $55.73 on Aug. 3 and then popped to $66.15 on Aug. 11. Raytheon Technologies is the second largest aerospace and defense contractor. It’s the combination of United Technologies and Raytheon. The new company is a component
Israel and the United Arab Emirates have reached a historic peace deal that will see the Gulf power normalising diplomatic relations with the Jewish state. The deal, brokered by the US, would mean the UAE will become only the third Arab state to have full diplomatic ties with Israel, after Egypt and Jordan. “HUGE breakthrough
The Real Estate sector ranks 11th out of the 11 sectors as detailed in our Q3’20 Sector Ratings for ETFs and Mutual Funds report. Last quarter, the Real Estate sector ranked eleventh. It gets our Very Unattractive rating, which is based on an aggregation of ratings of the 197 stocks in the Real Estate sector.
With the difficulties new college graduates face repaying student loan debt–now a cumulative $1.5 trillion in the United States–many are questioning whether the cost of higher education is worth the potential reward of higher income. After all, two of the richest men in America, Mark Zuckerberg and Bill Gates, do not hold college degrees. While
Apple and Tesla have both announced stock splits recently and CNBC’s Jim Cramer on Wednesday revealed 10 stocks of companies that he would like to see follow suit to reduce high trading prices. The stock split, in which a company increases substantially its number of outstanding shares while preserving its market value, will attract and give
Cisco logo exhibited during the Mobile World Congress, on February 28, 2019 in Barcelona, Spain. NurPhoto | Getty Images Check out the companies making headlines after the bell: Cisco Systems — Cisco shares fell more than 6% in after-hours trading despite reporting fiscal fourth-quarter profit and revenues that topped analysts’ expectations. The results, though better than
With Congress unable to reach a compromise on a new round of support for Americans impacted by the pandemic and recession, President Trump signed memoranda last weekend that partially restore enhanced unemployment benefits, defer payroll taxes for most Americans, and extend a moratorium on federal student loan payments. The constitutionality of these measures is now
Vital Vio’s lighting goes into home products, like Ellumi brand’s under-cabinet lighting and Broan-Nutone’s antimicrobial ventilation systems. Its technology uses visible light to kill cells of bacteria, mold and fungi, but not Covid-19 specifically. Vital Vio The coronavirus pandemic is altering every aspect of how we live, especially what we want from our homes. Beyond
Ohio-based Huntington Capital Markets Inc. is making a greater banking push into Michigan as part of its post-Hutchinson Shockey acquisition strategy. The new team that started earlier this summer includes Lou Orcutt, a managing director and general government banker who will head up public finance in Michigan from a Detroit office. The expansion helps the
Kamala Harris and Joe Biden had to forgo cheering crowds and shaking hands with supporters in their Delaware debut © AFP via Getty Images Kamala Harris used her first appearance as Joe Biden’s vice-presidential pick to attack Donald Trump’s handling of the coronavirus pandemic, foreshadowing how the former prosecutor plans to take on the president
Renting a home can be a substantial expense, and the amount spent on rent each month can have a significant impact on your overall financial picture. Rent is likely your highest monthly expense, and it’s also a recurring cost that you cannot easily reduce once you’ve signed the lease contract. Letting rent payments take up
US stocks rallied and Treasuries sustained a further bout of selling on Wednesday after optimistic economic data and rising hopes over a potential coronavirus vaccine bolstered investors’ confidence. The S&P 500 jumped 1.1 per cent in early trading on Wall Street, reversing a fall from the previous session. The rise leaves the US benchmark marker
116.48 The current reading of the Investopedia Anxiety Index is well above neutral indicating a very high level of anxiety. Markets Today Global markets are surging this morning as Russian President Vladimir Putin claimed the country has given him regulatory approval for the world’s first COVID-19 vaccine that he says was successfully used on his
The Industrials sector ranks sixth out of the 11 sectors as detailed in our Q3’20 Sector Ratings for ETFs and Mutual Funds report. Last quarter, the Industrials sector ranked sixth. It gets our Neutral rating, which is based on an aggregation of ratings of the 417 stocks in the Industrials sector. See a recap of
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