China’s Evergrande Real Estate Group. Brent Lewin | Bloomberg | Getty Images SINGAPORE — Shares of China Evergrande plunged on Wednesday, after the indebted Chinese property developer said it had placed new shares at a discount. On Wednesday morning, its Hong Kong-listed shares dived more than 16%. The cash-strapped developer, China’s second-largest by sales, announced
Federal Reserve Bank of Richmond President Thomas Barkin said a rebound in U.S. coronavirus cases to about 50,000 a day has added uncertainty to the outlook and may discourage businesses from hiring or investing. “An elevated case rate raises economic uncertainty and that affects businesses’ willingness to hire or spend or invest,” Barkin told a
High-yield bonds, also referred to as junk bonds, can be divided into two specific classifications: fallen angels and rising stars. Bonds that are described as fallen angels are simply those that at one time in the past were considered to be investment grade and are now categorized as “junk” bonds due to a reduction in the
(Source: Unsplash) Introduction I recently published an article encouraging investors to avoid long-term bonds because they currently offer extremely low incremental yield pickups per unit of duration (interest rate) risk – lower than ever before in history. I have encouraged selling not only long-term bond funds, but even core bond funds because they have so
French president Emmanuel Macron has announced a 9pm-6am curfew for Paris and eight other big cities from Saturday in an attempt to curb the rise of coronavirus infections that threaten to overwhelm the country’s hospitals. “Our intensive care wards are under unsustainable pressure,” Mr Macron said in an interview with French television stations on Wednesday
Over the years, technicians have found two problems with the simple moving average. The first problem lies in the time frame of the moving average (MA). Most technical analysts believe that price action, the opening or closing stock price, is not enough on which to depend for properly predicting buy or sell signals of the
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: Earnings: $5.57 per share, 16% higher than a year earlier, according to Refinitiv. Revenue: $9.46 billion,
A pedestrian wearing a protective mask exits from the Wall Street subway station in New York, on Monday, July 20, 2020. Michael Nagle | Bloomberg | Getty Images Wall Street is getting bulled up on earnings, and that is highlighting the divide it has with Main Street. Earnings season is two days old, and already
The Disney+ (Plus) logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images Check out the companies making headlines in midday trading. Disney — Shares of the media giant advanced more than 4% after the company announced a major reorganization that will make streaming a “primary focus.” To accelerate its direct-to-consumer
With stunning views of the city, The Emerald is Seattle’s newest waterfront residential tower. Cory Holland, Clarity NW Just completed, The Emerald is Seattle’s newest luxury condominium tower, located above downtown Seattle’s iconic Pike Place Market and the city’s newly reimagined waterfront. The 40-story faceted-glass building located at the corner of 2nd Avenue and Stewart Street
People walk into a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020. Wang Ying | Xinhua News Agency | Getty Images Borrowers are clearly used to hearing that mortgage rates set another record low because last week’s dip did nothing to spur mortgage demand. The volume
The University of Arizona’s main campus is in Tucson.University of Arizona The University of Arizona will price a $96 million refunding of system revenue bonds after being hit with a new negative rating outlook. The taxable bonds are pricing Wednesday and Thursday through book runner Citigroup, led by managing director Tim Rattigan and director Alex
The total value of China’s stock market has climbed to a record high of more than $10tn, as the country’s accelerating economic recovery propelled it past the previous peak hit during an equities bubble five years ago. The market capitalisation of all shares listed in Shanghai and Shenzhen hit $10.08tn according to Bloomberg data compiled
Investor sentiment has clearly shifted over the past two weeks as a broad-based equity rally for U.S. markets has taken hold. While anxiety remains high, especially around the elections, big money has been moving into value stocks, small-caps tied to the recovery, and industries that may do well if Biden wins the presidency in November.
iShares Short Treasury Bond ETF (SHV) holds over $21.2 billion in assets when we last looked at it. It is one of the larger ETFs around and assets have actually gone up over the last few years. We examine this one today as its numbers gave us a mild case of indigestion. Returns Are Nothing
The EU has been handed the right to hit almost $4bn-worth of US goods with punitive tariffs in retaliation for illegal state aid to Boeing, leading Brussels to ramp up calls for a final settlement to the two sides’ 16-year aircraft dispute. The World Trade Organization announced the decision on Tuesday. The EU will now
46.1 The latest reading of the New York City Recovery Index out of a possible score of 100. Editor’s note: Below you’ll find the week 10 release of the NYC Recovery Index, originally published Oct 5, 2020. Visit the NYC Recovery index homepage for the latest data. As New York City braces itself for a potential second
Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Citigroup is scheduled to report third-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: 93 cents a share, a 55% decline from a year earlier, according to Refinitiv. Revenue: $17.2 billion,
The big banks start off third quarter earnings season, and investors will be most focused on guidance to see if earnings can propel the market back to its highs. The S&P 500 closed at 3,534 Monday, about 1.5% from its previous high. Banking bellwether JPMorgan reports Tuesday morning, as do Citigroup and BlackRock. Delta Airlines
Hundreds of headlines blare daily warnings about the dreaded ‘Covid 19’ pounds packed on during these long pandemic months. Americans are locked out of their local gyms and yoga studios, locked down in their homes, and locked away from friends and family members for support. What isn’t locked down are the refrigerator and pantry, and
SINGAPORE — Global real estate prices have largely held their own in the face of an unprecedented economic hit from the coronavirus pandemic, says Sean Darby, global head of equity strategy at Jefferies. “It’s been perhaps one of the most fortunate events for policymakers in that we’ve not really seen any significant declines in global
Puerto Rico Oversight Board member Arthur Gonzalez became the fourth original board member to step down on Friday. On Wednesday President Donald Trump appointed Justin Peterson to sit on the board. Effectively, this ended González’s tenure on the board unless a member of the Congressional leadership recommended him to the president. González’s announcement Friday seals
KPMG, which this year revealed its rival accounting firm EY had missed a chance to stop Wirecard’s fraud, was itself the auditor to a suspicious vehicle that investigators believe may have been used to siphon off the payments group’s funds. In a special audit into Wirecard, which precipitated the collapse of the German group, KPMG
Some insurance companies have combined with brokerage companies, banks and other financial institutions to offer their customers a wider range of services. That is certainly the case for the Canadian insurance industry, which has experienced a number of acquisitions and mergers. Below we explore the five largest Canadian insurance companies defined by their annual revenue in 2019.
Vulnerability is basically uncertainty, risk, and emotional exposure. – Brene Brown The ProShares UltraPro QQQ ETF (NASDAQ:TQQQ) has set an ambitious goal – generating a daily return that is three times that of the NASDAQ 100 (NDX), before fees and expenses. It achieves its goals by leveraging its net assets and trading derivative contracts which
US stocks built on last week’s rally with investors bracing themselves for the start of earnings season and assessing election polls that show a strong lead for former vice-president Joe Biden. The Nasdaq Composite climbed 2.6 per cent, with tech heavyweights Twitter and Apple up 5 per cent and 4 per cent respectively. The S&P
Federal direct loans have become one of the most popular types of student loans in the U.S. for several reasons. They offer flexible repayment options, a convenient application method, and generous terms for both eligibility and allowable expenses. Understand the Limitations of Federal Direct Loans Despite these benefits, these loans have some limitations borrowers should
An animation shows Dream Chaser and its Shooting Star cargo module in orbit around the Earth. Sierra Nevada Corporation Sierra Nevada Corporation is best known as a private aerospace and national security contractor – but the company is investing heavily in its space systems division, especially as it sees NASA and other companies building infrastructure
People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 5, 2020 in New York City. Angela Weiss | AFP | Getty Images Stock market bulls, rejoice. Third quarter earnings season begins Tuesday with JPMorgan Chase. The good news: in the second quarter, companies delivered surprisingly large earnings beats as analysts underestimated
Take a look at some of the biggest movers in the premarket: Xilinx (XLNX) – Advanced Micro Devices (AMD) is in advanced talks to buy the specialty chipmaker, according to The Wall Street Journal. People familiar with the matter say such a deal could be worth more than $30 billion, with a transaction possibly coming together
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