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High-speed rail line from Las Vegas to LA on track to break ground in 2021
LAS VEGAS — A top executive behind a high-speed rail project that would lay tracks between Las Vegas and Southern California contends construction is on schedule to start in the second quarter of this year. In January, Brightline West President Sarah Watterson said her company was preparing a revised financial plan that could see a second-quarter 2021 groundbreaking date. Meanwhile, Amtrak has teased plans to possibly install a new line between Las Vegas and Los Angeles. New service would be added to major cities that currently have no Amtrak service, including Las Vegas; Nashville; Columbus, Ohio; and Phoenix. At Brightline, Reininger welcomed the prospect of having two rail lines between Las Vegas and Los Angeles.
Unable to find vaccine at home, affluent Latin Americans head to the US to get COVID-19 shots
Olga R. Rodriguez and Marcos Martinez ChaconAssociated PressMONTERREY, Mexico — They travel thousands of miles by plane from Latin America to the U.S., in some places taking a shuttle directly from the airport to COVID-19 vaccine sites. People of means from Latin America are chartering planes, booking commercial flights, buying bus tickets and renting cars to get the vaccine in the United States due to lack of supply at home. “It’s a matter of survival,” Gónzalez said of getting a COVID-19 vaccine in the United States. So vaccine seekers who can afford to travel are coming to the United States to avoid the long wait, including people from as far as Paraguay. He said he can spend up to 20 days in the United States to try to get a shot.
9.3± Acre Private Island in the heart of Fort Myers, Florida with easy access to the Gulf of Mexico.
Fisher Auction Company and One Sotheby’s International Realty are pleased to present via Absolute Auction a rare and exclusive 9.3± Acre Private Island in the heart of Fort Myers, Florida with easy access to the Gulf of Mexico. https://www.fisherauction.com/commercial/auction/absolute-auction-of-loftons-island-fort-myers-fl-bw50571PROPERTY HIGHLIGHTS• Prime Location on the Caloosahatchee River in the Heart of Fort Myers with potential for multiple development opportunities• A short boat ride to the Fort Myers Yacht Basin provides for easy access• Within an hour to the Gulf of Mexico or the pristine white sand beaches of Sanibel Island and Captiva• Water, Sewer and Electric Available to Site via Directional Boring Line• Extremely well located Private Island on the Intracoastal Waterway• Approximately 30 minutes North of Southwest Florida International Airport and 2 hours South of Tampa International Airport• Close proximity to Downtown Fort Myers, area golf courses, aquatic preserves and world-famous Boca Grande fishing• Easy access to major retail, shopping, medical facilities, schools and entertainment• Caloosahatchee River frontage provides easy access to the Gulf of Mexico and the Atlantic Ocean• Potential for lease agreement with local parking garage and landing zone at City Marina• Approved for 30 boat slips and 1 Barge Landing (Contact Broker for Details)For More Information Please Email – info@fisherauction.comhttps://www.fisherauction.com/commercial/auction/absolute-auction-of-loftons-island-fort-myers-fl-bw50571
This is America: Lessons I learned from covering the Derek Chauvin trial
Where were you when you heard Derek Chauvin was found guilty on all three counts of murder and manslaughter for killing George Floyd? Here are some lessons I learned while covering the Chauvin trial. 'This is our Selma moment': Racial justice activists hope Derek Chauvin verdict spurs larger systemic changeRacial justice activists hope Derek Chauvin verdict spurs larger systemic change Report card: Would this year’s Oscar best picture nominees meet 2024 inclusion standards? Facebook was made safer for the Chauvin verdict: 'If Facebook can be safer for Black people, why isn’t that the default setting?' I learned it's important to take a break and eat some pizza with your peeps every now and then.
Gannett Launches ‘Support Local’ To Help Small Businesses
StaffUSA TODAY NETWORK PRESSROOMGannett today announced the launch of Support Local, a platform to help communities support and access small businesses all across the nation that are facing significant economic challenges due to the spreading coronavirus pandemic. In the United States, small businesses with less than 20 employees make up almost 90% of all U.S. business enterprises in the country, according to the U.S. Small Business Administration. Gannett created Support Local to provide communities with an easy way to discover opportunities to help their favorite local businesses and access special services they may be providing during these times. “We believe local businesses are the heartbeat of America,” said Kevin Gentzel, Chief Revenue Officer, Gannett. Support Local will give our readers and local communities the opportunity to ensure sustainability for their favorite businesses as we all strive to make it through COVID-19 together.”To find or add a local business in your community to the new Support Local site, please visit supportlocal.usatoday.com.
Jeep’s “Groundhog Day” Wins USA TODAY’s 32nd Annual Super Bowl Ad Meter Competition
StaffUSA TODAY NETWORK PRESSROOMUSA TODAY announced that Jeep’s “Groundhog Day” was voted the winning commercial of USA TODAY’s 32nd Super Bowl Ad Meter, the industry-leading tool used to track public opinion surrounding Super Bowl ads. The commercial received the highest average rating in this year’s competition, which is presented by Kia – a previous Ad Meter winner in 2017 and sponsor of the 30th Anniversary of Ad Meter in 2018. This is the first time that Jeep has finished first USA TODAY’s Ad Meter. All commercials ranked in USA TODAY’s 32nd Ad Meter are also curated into a proprietary USA TODAY Ad Meter Playlist on AdBlitz, a YouTube exclusive. Ad Meter has become such a strong tradition that gives fans the chance to crown the Super Bowl commercial champion,” said Maribel Perez Wadsworth, president of USA TODAY NETWORK and publisher of USA TODAY.
USA TODAY NETWORK Launches Series Focused on Workers Feeding America During the COVID-19 Pandemic
StaffUSA TODAY NETWORK PRESSROOMUSA TODAY NETWORK today launched a series about America’s food chain to tell the stories of the people who are working to keep America fed during the COVID-19 pandemic. Over 40 Gannett journalists from more than 10 newsrooms across the country are contributing to this series led by USA TODAY consumer editor Michelle Maltais and Des Moines Register politics editor Rachel Stassen-Berger. New stories in the series will continue to roll out over the coming weeks. “Food workers have faced great risks to keep America fed, and we wanted to focus a spotlight on some of the people in the food chain,’’ said Jeff Taylor, USA TODAY’s executive editor for news. “The collaboration for this series represents the strength and reach of our national news network.’’
USA TODAY NETWORK Launches Ambitious “Rebuilding America” Initiative
StaffUSA TODAY NETWORK PRESSROOMGannett this week launched “Rebuilding America,” an unprecedented national examination of how America’s economy is rebooting after nearly three months as states reopen for business. The project is a sweeping effort by the USA TODAY NETWORK, Gannett’s newsrooms across America, to empower its audience of more than 150 million readers. As a public service to readers, the “Rebuilding America” content will be free on the USA TODAY NETWORK’s collection of digital sites. In March, the company launched Support Local, a digital platform to provide communities with ways to support local businesses, from take-out restaurants to small merchants. “At a time of great tragedy and uncertainty, readers are relying on the USA TODAY Network for breaking news, public service journalism and health-related watchdog reporting.
Gannett Names New Chief Marketer & Strategy Officer
StaffUSA TODAY NETWORK PRESSROOMGannett Co., Inc. announced today that Mayur Gupta will join the company as its new Chief Marketing and Strategy Officer. In this new role, Mr. Gupta will be responsible for driving the vision and strategy as the company transforms to a subscription-led content business. Prior to Freshly, Mr. Gupta was the Global VP for Growth & Marketing at Spotify. He was the first-ever Chief Marketing Technologist at Kimberly Clark, responsible for the vision, strategy, and development of all digital and eCommerce capabilities across KC's global iconic brands. Mayur Gupta joined the Company’s Board of Directors in October 2019.
Gannett Foundation Relaunches “A Community Thrives” Crowdfunding and Grant Program
StaffUSA TODAY NETWORK PRESSROOMThe Gannett Foundation yesterday launched its 2020 A Community Thrives program to support projects which contribute to community building with a preference for those impacting historically under-served individuals and groups. The more than $2 million A Community Thrives initiative is sponsored by the USA TODAY Network's parent company, Gannett Co., Inc. "The Gannett Foundation grants will support our readers' top community-building ideas to help address local needs and ensure a vibrant, healthy community. We are committed to work in partnership to help our communities connect, act and thrive," said Maribel Perez Wadsworth, Gannett Media President of News and Gannett Foundation Vice President in a written statement. Organizations may submit applications through Sept. 11 on A Community Thrives' website: acommunitythrives.mightycause.com.
USA TODAY NETWORK to Advance Audio Strategy with New Tool
StaffUSA TODAY NETWORK PRESSROOMGannett developed and built an internal app, Bytecast, that allows our reporters to seamlessly capture and publish audio content. The tool is intended for use internally by journalists across the USA TODAY NETWORK. The app, developed by Gannett’s content innovation group, is part of an effort to build a more expansive collection of audio content for USA TODAY NETWORK, and is a key step in advancing the organization’s audio strategy to deliver a larger catalog of audio content to its audience of over 140 million in the U.S. and U.K. Journalists can capture audio content directly through the Bytecast app and upload to the company’s audio networks, allowing the content to be easily embedded within stories, shared on smart speakers, voice assistants, across social media platforms, and our CMS. The app is currently being tested by journalists at the Detroit Free Press, The Columbus Dispatch, and Northwest Florida Daily News.
USA TODAY NETWORK and The Gannett Foundation Announce 2020 National Grant Recipients for “A Community Thrives”
StaffUSA TODAY NETWORK PRESSROOMUSA TODAY NETWORK and the Gannett Foundation today announced 16 non-profit organizations that will receive national grants from the company’s A Community Thrives program. A total of $5.6 million will be distributed to these non-profits from the Gannett Foundation and the program’s fundraising efforts combined. Congratulations and best wishes to these outstanding grant recipients and their amazing projects,” said Gannett Chairman and CEO Mike Reed. The Gannett Foundation selected the 2020 national grants recipients based on the proposed projects’ viability, sustainability, community need and community building properties and service to historically marginalized and/or under-resourced groups. CREIGHTON COMMUNITY FOUNDATION, Phoenix, AZ -- $50,000Creighton Community Foundation will build vibrant food and culinary communities in east central Phoenix to increase access to nutritious food.
Gannett and McClatchy Collaborate to Offer Local Reach for National Advertisers
StaffUSA TODAY NETWORK PRESSROOMGannett and McClatchy, two of the most iconic and acclaimed local media companies, with deep roots in over 300 local communities, have announced a new offering that will give national brands the ability to connect seamlessly and more meaningfully with local audiences across a vast multi-channel network. Gannett’s USA TODAY national sales team, which has been increasingly helping national brands reach communities’ audiences, will be the go-to-market team offering the combined reach of the local media companies to national brands and media agencies. “We are excited to expand our local audience reach for National brands and agencies in this partnership with McClatchy,” said Kevin Gentzel, Chief Revenue Officer, Gannett | USA TODAY NETWORK. “We are excited to join the USA TODAY NETWORK and collaborate with Gannett to provide this powerful multi-channel solution for advertisers.”The Gannett and McClatchy solution comes at a critical time for brands. USA TODAY NETWORK and the credible, brand-safe nature of trusted local media brands provides marketers with a solution to connect with consumers.
Gannett Earns Top Marks in Human Rights Campaign’s 2021 Corporate Equality Index
StaffUSA TODAY NETWORK PRESSROOMGannett has received a score of 100 on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index, the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ workplace equality. Gannett joins the ranks of 767 major U.S. businesses that also earned top marks this year. This is Gannett’s fourth year on the Corporate Equality Index. Gannett’s efforts in satisfying all of the CEI’s criteria earned a 100 percent ranking and the designation as one of the Best Places to Work for LGBTQ Equality. Apply now: There’s never been a better time to work at Gannett | USA TODAY NETWORK
33rd Ad Meter Competition Begins
StaffUSA TODAY NETWORK PRESSROOMUSA TODAY kicks off its 33rd Ad Meter program, the premiere gauge for public evaluation and opinion about Super Bowl advertisements. All commercials that are ranked in USA TODAY’s Ad Meter will also be curated into a proprietary USA TODAY Ad Meter Playlist on YouTube AdBlitz. Beginning today, fans can leverage a unique augmented-reality filter on USA TODAY and USA TODAY Sports Instagram pages that allows fans to share their excitement about this year’s Ad Meter competition with their social network. The winner of the 2021 Super Bowl Ad Meter will be announced on Monday, Feb. 8 at 8:30 a.m. Following the announcement of the results, USA TODAY will be hosting “Ad Meter Live” at noon ET.
Gannett Names Spencer Mandell As Executive Creative Director
StaffUSA TODAY NETWORK PRESSROOMSpencer Mandell is joining Gannett as its first creative director. Mandell is an award-winning Global Creative Director with over two decades of experience in the media industry. Following Senior Creative agency roles at LAFORCE and Havas's The 88, Spencer joined Facebook's Creative Shop as Creative Director. At both Facebook and Instagram, Spencer created award-winning work for clients such as Vogue, Bud Light, Bentley, DiGiorno, Hershey, and more. “I am deeply impressed with Spencer’s work, creative thinking, and passion for building cultural brands,” said Mayur Gupta.
Gannett Applauds Jury for Acquitting Des Moines Register Reporter Arrested Covering Protests
StaffUSA TODAY NETWORK PRESSROOMA jury in Polk County, Iowa, today acquitted Des Moines Register reporter Andrea Sahouri on two misdemeanor charges stemming from her arrest while covering protests in the city last May. “I’d like to thank my family and friends, my Des Moines Register and Gannett colleagues and people around Des Moines, nationally and globally who have supported me for nearly a year after I was unjustly assaulted and arrested. If reporters are arrested and hauled away from protests, that denies people the right to know what’s going on in their community,” said Carol Hunter, executive editor of the Des Moines Register. Gannett funded Sahouri’s defense and will always stand behind its journalists when they are arrested for simply performing their jobs. Read full coverage on the Des Moines Register.
Gannett and Snap Inc. Partner to Bring Local Businesses Innovative Ad Solutions
StaffUSA TODAY NETWORK PRESSROOMToday, Gannett and Snap Inc. announce a new partnership to bring Snapchat’s advertising platform to small and local businesses throughout the U.S. and Canada. Gannett has a long history of working with small businesses across the country to help them grow their businesses by connecting them with consumers in their local communities. In the past several years, Gannett’s marketing solutions business has expanded with the acquisitions of ReachLocal and WordStream, and the launch of LOCALiQ, combining all of Gannett’s digital marketing solutions. Gannett’s scale and breadth of offerings enable it to leverage proprietary data insights to drive personalized best-in-class performance for local businesses. “We are proud to partner with Snap to bring industry-leading digital ad products and marketing solutions to local businesses across the country,” said Kevin Gentzel, Chief Revenue Officer & President of Marketing Solutions, Gannett.
McDonald's is closing more restaurants in Walmart stores, but Taco Bell, Domino's and others are moving in
McDonald’s is closing hundreds of restaurants located in Walmart stores, and approximately 150 restaurants are expected to remain after another wave of planned closures, the Wall Street Journal reported Friday. But Walmart officials told USA TODAY the spaces aren't sitting empty. We have been and continue to fill them," Walmart spokesperson Molly Blakeman said in a statement to USA TODAY. At the peak of the McDonald's-Walmart partnership, which began in the mid-90s, there were roughly 1,000 restaurants in Walmart stores, the Journal reported. BJ's Wholesale Club leadership:CEO Lee Delaney died unexpectedly; Bob Eddy named interim CEOFollow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
This retirement plan rule could cause your Social Security benefits to get taxed
If your RMD is high enough, it could push you over the limit where your Social Security benefits become taxable at the federal level. Whether Social Security gets taxed depends on your provisional income, which is 50% of your annual benefit plus your non-Social Security income. That way, you'll keep more of your senior income away from the IRS -- including the Social Security benefits you've earned. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after.
Flush with cash, affluent Americans are chasing million dollar listings
Falling mortgage rates (currently 3.04%) throughout 2020 and early this year also have also boosted sales of luxury homes, Yun says. By comparison, sales of affordable homes (those in 5th-35th percentile) increased 7%, while sales of mid-priced homes climbed just 5.9%. That compares with 26 fewer days for expensive homes, 18 fewer days for mid-priced homes and 14 fewer days for affordable homes. "Instead, builders have focused on luxury homes because of higher margins," he says. The U.S. housing market shortage increased to 3.8 million units by the end of 2020, according to new data from mortgage giant Freddie Mac.
Disputing a credit card charge? Here are 4 things you need to know.
If you see expenses you either don't recognize or you know are fraudulent, you have the right to dispute those credit card charges. You generally have 60 days to dispute a chargeIf you see an erroneous charge on your credit card, it's best to act quickly because you only have a limited window of time to dispute a credit card charge. You don't have to pay for a charge that's under disputeIt can take some time for a credit card company to resolve a disputed charge. To avoid credit card fraud you may also want to have the merchant flag your account in case the person who stole your credit card number tries to make another purchase. As a consumer, you have certain rights, including the right to not have to pay for credit card charges you didn't make.
As a small business owner, you will have to be a salesperson at some point. Here are some successful sales techniques.
Rhonda AbramsSpecial to USA TODAYIf you own a small business, sooner or later you have to make sales. Here are a few keys to successful sales:ListenNo sales skill is more important than the ability to listen. Don't just tell the customer what you think they'll be interested in or stick to your standard sales patter. Customers don't want to know the ins and outs of your business; they want to know how you meet their needs. How to structure your sales pitch in a conversationBy listening to customers, you find the issues important to them.
Dogecoin lacks 'substantive differentiation': These 3 stocks are much smarter buys
Dogecoin lacks substantive differentiation, relative to other digital currencies, and it has extremely limited utility. But here's a number to keep in mind: There are more than 32 million businesses in the U.S. alone. This trio of stocks make for much smarter investments than DogecoinRather than throwing your hard-earned money at a pump-and-dump asset like Dogecoin, consider putting your money to work in the following three much smarter buys. PinterestA third stock that's a considerably smarter buy than Dogecoin is social media up-and-comer Pinterest (NYSE: PINS). After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
How to navigate Social Security when there's a big age gap between you and your spouse
But when it comes to retirement planning, being married can add a level of complexity to the mix, especially when it comes to Social Security. In fact, things could become even more challenging on the Social Security front if there's a substantial age difference between you and your spouse. Of course, in delaying your filing, you may get less out of Social Security in your own lifetime. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after.
There is a surge in new job openings, but why isn't there a surge in job candidates?
Forty-two percent of small businesses surveyed in March said they had job openings they couldn't fill, a record high, according to the National Federation of Independent Business. Before the pandemic, companies sometimes plucked job candidates from competitors, either on their own or through agencies. But McCoy estimates about half of all professional job openings were filled by job seekers responding to ads or sending out cold applications. Also, restaurant and retail positions are coming back as states ease business restrictions, adding to the swell of job openings. The upshot: Businesses are scrambling to fill an abundance of similar job openings from a limited pool of candidates.
Stimulus check update: When will ‘plus-up’ payments arrive? Answers to your COVID-19 relief questions
If your income fell last year and you made significantly less money than what was reported on your 2019 income tax return, you may be eligible for another check. If you received your stimulus payment via direct deposit, that’s likely how you will get the “plus-up” money. If you are head of household and not married, how does your stimulus payment change? All dependents are now eligible for stimulus payments in the third round. And some don’t levy state income taxes at all, including Texas, Florida, Alaska, Nevada, Washington, Wyoming and South Dakota.
Are you tracking the price of Dogecoin? Should you buy it? Your cryptocurrency questions answered
Should you buy Bitcoin or Dogecoin? More businesses and investors are likely to buy Bitcoin in the coming year, which could help to drive the cryptocurrency's price sharply higher. The sharp rise in the value of Bitcoin and Dogecoin has led to analysts' worries of a potential bubble in the cryptocurrency market. How do you buy cryptocurrency? Customers will get to choose between four types of cryptocurrency: Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
Venmo launching crypto feature to buy and sell Bitcoin, other digital currency
A new feature coming to Venmo is making it easier for users to claim a stake in cryptocurrencies like Bitcoin. On Tuesday, the digital payments app owned by PayPal announced a crypto option, which would allow its users to buy, sell and hold cryptocurrency. Customers will get to choose between four types of cryptocurrency: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Venmo users can hold a stake in cryptocurrency starting with as little as $1. Digital coins such as Bitcoin have boosted its legitimacy in recent weeks, as large companies allow its use for purchases.
Apple unveils new iMac powered by its own chips at 'Spring Loaded' event
Apple unveils new iMac powered by its own chips at 'Spring Loaded' eventApple made a new product announcement at its April 20 presentation.
Musk says autopilot not on during deadly Tesla crash in Houston
Musk says autopilot not on during deadly Tesla crash in HoustonThe NTSB will investigate the deadly crash of a Tesla Model S car over the weekend. Elon Musk says autopilot was not turned on.
Facebook fundraisers may be taxed. One do-gooder got a 'huge shock' after a $16,000 tax bill
"It was a huge shock," the 27-year-old Goffinet told USA TODAY on Monday. Goffinet realized others may also need help, and he put out a call on his hometown's Facebook page to raise funds, his CPA, Dawn Brolin, told USA TODAY. Goffinet hopes Brolin and her accounting team can help him point out how the money was used to benefit his community. He said it's been uncomfortable asking his Facebook friends again for money – this time to help pay his tax bill during a pandemic. "I’m going to do everything I can to put him in the right position," said Brolin, noting the tax bill is due May 17.
Climate, Taxes, Johnson & Johnson: Your Thursday Evening Briefing
The United States pledged to cut emissions in half from 2005 levels by the end of the decade, a plan that would lead to big changes. At an Earth Day summit, President Biden declared America “has resolved to take action” on climate change. Here’s how the U.S. plan stacks up globally. Canada and Japan also made new commitments to cut emissions. China — currently the world’s biggest greenhouse gas polluter — promised to strictly limit coal consumption and renewed its pledge to cut carbon emissions to net zero by 2060.
Stocks drop on Biden’s plan to double capital gains tax for wealthy
Stocks tumbled Thursday on a report that President Biden is mulling a plan to nearly double what wealthy people pay on their investment gains. The S&P 500 index ended the day down 0.9 to 4,134.98, while the Nasdaq Composite slid 0.9 percent to 13,818.41. The current top capital gains rate is 20 percent. “Biden’s proposal effectively doubles the capital gains tax rate on $1 million income earners,” Jack Ablin, Cresset Capital Management’s founding partner and CIO told CNBC. Thursday’s capital gains news comes as investors waded through another batch of positive earnings reports.
Journalists pray for miracle to stave off Tribune takeover by Alden
For the past six months, Bowie has been talking with Guild representatives at other Tribune papers papers also represented by the union. The New York Daily News, owned by Tribune, would be one of the newspapers impacted by Tribune’s sale. But it’s getting increasingly tougher as even local investors interested in buying up specific Tribune papers express doubt about Bainum’s chances. “If Bainum wins it, I’ll support him, but I won’t do anything to jeopardize my chances,” said one investor scouting one of Tribune’s local papers. The South Florida Sun Sentinel is one of the few papers under the Tribune umbrella not represented by the News Guild.
CNBC Markets Now: April 22, 2021
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Markets Now: April 22, 2021CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
Online ticket marketplace Vivid Seats set to go public via SPAC with Horizon Acquisition Corp.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOnline ticket marketplace Vivid Seats set to go public via SPAC with Horizon Acquisition Corp.Online ticket marketplace Vivid Seats is set to go public via SPAC with Horizon Acquisition Corp. Stan Chia, Vivid Seats CEO and Todd Boehly, Horizon Acquisition Corp. CEO, join 'Closing Bell' to discuss.
The man who moves markets says the reopening rally is getting a revival
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe man who moves markets says the reopening rally is getting a revivalMarko Kolanovic, J.P. Morgan chief global markets strategist, says the best days of the reopening trade are still ahead. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Bonawyn Eison.
Intel drops after reporting earnings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel drops after reporting earningsCNBC's Josh Lipton on Intel earnings after the bell. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Bonawyn Eison.
Happy Earth Day: Traders share top environmentally friendly investments
In the spirit of the eco-focused occasion, CNBC's "Trading Nation" asked its traders to share their favorite green investments. ESG assets — those focused on environmental, social and governance issues — have an edge this year. The MSCI ESG ETF (SUSA), which tracks ESG companies, is up 11% in 2021. Rather than picking an individual stock, O'Hara says it makes sense to get exposure to a broad swath of environmentally focused companies. O'Hara says it has solid support at $21 and the near-term outlook sets it up for a push above $27.
Crypto fund CEO on where to put your money beyond bitcoin and ethereum
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto fund CEO on where to put your money beyond bitcoin and ethereumDan Morehead, Pantera Capital CEO, on the hottest altcoin play. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Bonawyn Eison.
Stock futures tick higher after concerns over capital gain tax hike prompt selling
Futures contracts tied to the major U.S. stock indexes ticked higher at the start of the overnight session as investors prepared to end a down week for equities amid concerns the White House could seek a hike to the capital gains tax. Bloomberg News reported that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. Though the capital gains tax headlines appeared to weigh on sentiment Thursday afternoon, selling was tempered by the tough battle such a proposal would face in a split Senate. Week to date, the S&P 500, Dow and Nasdaq are down 1.2%, 1.1% and 1.6%, respectively. Both chipmaker Intel and social media platform Snap reported earnings for the first calendar quarter Thursday after the closing bell.
Nestle CEO says business case for sustainability emerges as consumers demand it more than before
Nestle is maintaining growth despite committing billions of dollars towards improving the company's environmental footprint, CEO Mark Schneider told CNBC Thursday. "I think there's a good business case emerging and that's what we're pursuing," said Schneider, whose interview landed on Earth Day. As laid out in its sustainability strategy, Nestle plans to reduce emissions within its business and supply chains, snuffing out its carbon footprint by 2050. Meanwhile, Nestle is advocating for regenerative agriculture practices and campaigning to plant 20 million trees each year this decade, according to its website. Nestle, which is based in Switzerland, reported organic growth of 7.7% from the same quarter last year, more than double the expected growth rate of 3.3%.
5 Mistakes Job Seekers Make With Phone Screen Interviews
10'000 Hours via Getty Images Phone screen interviews aren't when job offers are made, but they do weed out candidates, so you want to get them right. Screener interviews can be scheduled, or they can happen randomly after a recruiter finds a job seeker’s contact information. “I’ve had a phone interview with someone who was in the bathtub, I heard water splashing, the soap dropped,” Watkins said. Recruiters will typically ask job seekers, “What are your salary expectations?” during this initial phone screener interview. In a phone interview, hiring managers and recruiters can only evaluate a voice, so remember to express enthusiasm while you are talking.
OP Bancorp: Q1 Earnings Snapshot
LOS ANGELES (AP) _ OP Bancorp (OPBK) on Thursday reported first-quarter earnings of $5.1 million. The Los Angeles-based bank said it had earnings of 33 cents per share. OP Bancorp shares have increased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.95, a climb of 38% in the last 12 months. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
North Carolina tax break for business, jobless clears House
RALEIGH, N.C. (AP) — Legislation that would provide several hundred million dollars in North Carolina state income tax breaks for businesses and the unemployed received final House approval on Thursday. In both provisions, North Carolina tax law would become aligned with what federal tax rules now allow on IRS returns while providing financial assistance during the COVID-19 pandemic. The individual income tax deadline is May 17. It’s unclear whether federal coronavirus relief money earmarked for North Carolina could cover that cost. Rep. Julia Howard, the former co-chair of the committee, was the only House member who voted against the bill Thursday.
Apollo Commerical Finance: Q1 Earnings Snapshot
NEW YORK (AP) _ Apollo Commercial Real Estate Finance (ARI) on Thursday reported first-quarter net income of $58.3 million, after reporting a loss in the same period a year earlier. Earnings, adjusted for one-time gains and costs, came to 39 cents per share. The real estate investment trust posted revenue of $71.2 million in the period. Apollo Commerical Finance shares have risen 33% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
COVID liability bill heading to S Carolina governor’s desk
COLUMBIA, S.C. (AP) — The South Carolina House is sending a bill preventing people with COVID-19 from suing businesses and other groups to the governor’s desk. The proposal protects businesses as long as they follow guidelines to protect people from the virus. Dozens of other states have passed similar measures. But the South Carolina Chamber of Commerce, the South Carolina Manufacturers Alliance and other business groups said the bill protects companies and others as they try to bounce back from the economic downturn caused by the pandemic. Henry McMaster is expected to sign the bill.
Stock Market Sells Off On Biden Capital Gains Report; PayPal, Square Show New Buy Points
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Quintiles Stock, Daqo New Energy, MarineMax, Pool Among 12 New Stocks On IBD's Radar
Best Growth Stocks To Buy And Watch: See Updates To IBD Watchlists11:22 AM ET Find the best stocks to buy and watch by seeing which top growth stocks were just added to the IBD...11:22 AM ET Find the best stocks to buy and watch by seeing...
Historic Home on Land Leased from the Crown Estate in Suburban London Lists for £2 Million
A historic red-brick home that sits on land leased from the Royal Family has come to the market in the leafy and upmarket London suburb of Richmond with a guide price of £2 million (US$2.7 million). The eight-bedroom home is a leasehold property, meaning the proprietor owns the building—but not the land it’s on—for a set number of years. Unsurprising for a property more than 300 years old, there are period features galore, including elegant staircases, sash windows and window seats, according to the listing. The home is being sold by informal tender with best and final offers to be submitted no later than midday on May 12. Suburban locales globally have seen their popularity soar as buyers seek greener pastures during the coronavirus pandemic, and prices have responded accordingly.
Skyworks, Silicon Labs shares rise after companies announce $2.75B deal
Shares of Skyworks Solutions Inc. SWKS, -1.71% and Silicon Laboratories Inc. SLAB, -2.23% rose in the extended session Thursday after Skyworks announced it has agreed to buy Silicon Labs' infrastructure and automotive business in an all-cash deal valued at $2.75 billion. The deal "will accelerate Skyworks' expansion into the industry's most important growth segments," including electric and hybrid vehicles, 5G wireless infrastructure, smart-home applications and other areas, a combined market opportunity "approaching $20 billion" a year, Skyworks said. The deal is expected to close in the third quarter, and it has has been approved by the boards of directors of both companies, Skyworks said. Funding will likely come from a combination of cash on hand and debt financing arranged by J.P. Morgan, it said.
Snap Rallies on Better-Than-Expected Growth
Snap shares were trading higher late Thursday after the social-networking service posted better-than-forecast results for the March quarter. The strong results triggered gains for stocks across the social-media sector. Shares of Snap (ticker: SNAP) jumped 6.3%, to $60.63. Pinterest shares were up 3% and Twitter shares were up 2%.
Here’s how fast Iran could boost oil output after agreement on nuclear deal
There are likely weeks and months of thorny negotiations still ahead for the U.S., Iran and other parties, but a revival of the 2015 nuclear deal — and the easing of sanctions — could see Tehran ramp up oil production very quickly. “Once Iran returns to nuclear compliance — assumed to be two months after a return to the deal is agreed — it will try to export as much oil as it can as fast as it can. Rome estimated new exports would likely top out at around 2.2 million to 2.4 million barrels a day. Total exports, including sales out of the country’s significant volumes of floating storage, could run as high as 2.7 million barrels a day over the next year, he said. “Outside OPEC, a full return of Iranian oil to markets will make it more difficult for producers to attract investment into maintaining and expanding production.”
Mattel stock rallies after Q1 sales surge 47%
Mattel Inc. stock rallied late Thursday after the toy maker reported a narrower-than-expected quarterly loss and said its sales surged nearly 50%. Mattel MAT, +0.14% said it lost $115 million, or 33 cents a share, in the first quarter, compared with a loss of $211 million, or 61 cents a share, in the year-ago quarter.
Texas Fund Boss Admits $31 Million Fraud in Mea Culpa Email
In a 1,361-word email dated April 9, he told investors their money is essentially gone, and that he is solely responsible for wrongdoings that include the doctoring of records and using investors’ capital to cover operational expenses. It started with a fund involving a single investor, after which four other funds were launched between 2017 and 2018. However, while going out and trying to raise capital for 2019, he said he neglected the marketing side of the business, which was how deal flow was generated previously. That led to overpaying for assets and making deals that were less than arms-length, leading to deteriorating fund performance. To hide the business troubles from investors, Bentley said he hid information from stakeholders and in 2020 tried to raise $100 million through his eighth and final fund.
Boston Beer Crushed Earnings on Demand for Hard Seltzer. The Stock Is Up 7%.
It had more to do with Truly Hard Seltzer than Samuel Adams. The brewer (ticker: SAM) reported earnings of $5.26 a share, more than double Wall Street’s consensus estimate of $2.61 a share, according to FactSet. CEO Dave Burwick said in the earnings release that such growth was driven by the Truly Hard Seltzer and Twisted Tea brands. “The recently launched Truly Iced Tea Hard Seltzer has accelerated Truly brand growth, which has more than doubled since last year,” Burwick said. The company hopes to keep the brand’s momentum going in the second quarter, when it expects to launch Truly Punch Hard Seltzer.
Benefits of a 401(k) Plan You Haven't Considered
"Just having one is really important," says Jodan Ledford, CEO of Smart USA, a global recordkeeper that offers pooled retirement plan solutions. Both accounts come with 401(k) tax benefits, and which you choose will depend on your personal circumstances. Employers shouldn't let these requirements discourage them from offering a 401(k) plan though. Using a pooled plan provider may also simplify the process of setting up and administering a retirement plan. A 401(k) plan comes with valuable tax benefits for employees as well as employers, but that isn't the only reason to love these accounts.
Stocks dive on report of Biden's capital gains tax proposal
Stocks are falling after Bloomberg reported President Biden will propose a capital gains tax as high as 43.4% for the wealthy. JARED BLIKRE: That's right. So for New Yorkers, the combined state and federal capital gains rate could be high as 52%. Now we already saw a lot of these stocks in the red, not necessarily before this move having anything to do with it. We've been seeing some of the more defensive sectors like staples and also healthcare and utilities and real estate.
Stock market news live updates: Stocks sink after report says Biden will propose higher capital gains tax on the wealthy
Stocks erased earlier gains to trade sharply lower after Bloomberg reported Thursday afternoon that President Joe Biden would propose increasing the capital gains tax rate on wealthy individuals. Biden's plan would involve increasing the capital gains tax rate on the wealthy to 39.6%, according to the report from Bloomberg citing people familiar with the matter. The current base capital gains tax rate is 20%. ET: Stocks end a volatile session lower after Biden reportedly seeks capital gains tax increase on the wealthy; Dow drops 322 points, or 0.9%Here were the main moves in markets as of 4:04 p.m. ET Wednesday: Stock futures edge lowerHere's where markets were trading as the overnight session began.
UN concerned over halt of oil production in eastern Libya
CAIRO (AP) — The United Nations voiced concern Thursday over the recent halt of oil production at a Libyan eastern terminal and more imminent shutdowns of oil facilities prompted by a budget dispute. On Monday, Libya's National Oil Corporation said it had interrupted crude oil production and exportation from Marsa Al Hariga port, citing the Central Bank of Libya’s refusal to pay out money set aside for the oil sector for several months. “The uninterrupted production of oil as well as maintaining the independence and impartiality of the NOC remains a vital cornerstone to the economic, social and political stability of Libya,” said the U.N. support mission in the country. The NOC warned that the daily losses may exceed $ 26 million (118 million Libyan Dinars ). The NOC warned that other national oil companies may have to shut down production soon for the same reasons.
Snapchat sees new users, more revenue but still can't snap quarterly loss
Snap Inc.’s revenue surged in the latest quarter as the company gained more Snapchat users, continuing its streak as social-media use remains high during the coronavirus pandemic. Snapchat ended the quarter with 280 million daily average users, compared with 265 million in the prior quarter and 229 million a year earlier. Meanwhile, its daily-active-user base is expanding faster beyond the U.S. and Europe, in the latest quarter growing 57% year-over-year to 111 million users. Ticker Security Last Change Change % SNAP SNAP, INC. 57.05 -1.25 -2.14%Snap saw high engagement with Snap Maps and early momentum with Spotlight, a Tik-Tok-like feature that allows users to spread videos from around the Snapchat community. In the first quarter, Snap narrowed its losses to $286.9 million from $305.9 million in the same period last year.
Bitcoin ETFs to get fresh look under Gensler: SEC's Peirce
Peirce, who was appointed by former President Donald Trump, also noted the U.S. is falling behind competitively, as countries such as Canada move ahead with crypto products. COINBASE FUELS BITCOIN ETF RACE LED BY WISDOMTREE, VANECKThere are just two applications for bitcoin ETFs sitting with the SEC for review and potential approval. Experts note a bitcoin ETF would make investing in the asset more transparent and easier for Main Street investors. VENMO JUMPS INTO CRYPTOSTicker Security Last Change Change % PYPL PAYPAL HOLDINGS, INC. 262.27 -2.62 -0.99%Earlier this week, Venmo joined Paypal in offering buy, sell and hold, offerings for cryptos. Ticker Security Last Change Change % COIN COINBASE GLOBAL 293.45 -18.47 -5.92%
Morgan Stanley Clients Hold Nearly $30M In Bitcoin Funds
New SEC fillings show over 300 Morgan Stanley clients had invested in the bitcoin funds at the start of this month. News about Morgan Stanley being the first big bank to give its clients bitcoin exposure through three new funds was originally reported by CNBC last month. Due to the volatility of bitcoin prices, the bank put some restrictions on which Morgan Stanley clients will have access to the funds. Two of the three new funds, Galaxy Bitcoin Fund LP and FS NYDIG Select Bitcoin Fund, have $25,000 minimums. Note: An earlier version of this story incorrectly said that Morgan Stanley clients had invested $145 million in three bitcoin funds.
Stocks end lower after report on Biden’s tax proposal
A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower. A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal. The selling was widespread, with every sector in the S&P 500 closing lower. AdvertisementThe S&P 500 lost 38.44 points to 4,134.98. The S&P 500, which set a record high Friday, started the week with a two-day slide before closing higher Wednesday.
Ex-Palmdale mayor pleads guilty to perjury in no-show job corruption scandal
AdvertisementProsecutors said Ledford raked in $5,200 per month over the course of several years from an alleged “no-show job” with Complex Culture Change Consulting. Miller, 68, and Kimberly Anne Shaw, 61, who also helped run the AERO Institute, were charged with conspiracy, embezzlement and misappropriation of public funds. Prosecutors alleged the AERO Institute funneled payments to Ledford through Miller’s consulting firm. Ledford was also accused of failing to disclose income he made from the AERO Institute, which was receiving more than $2 million in annual funding from NASA. Prosecutors said the government agency has received $1.8 million in restitution, drawn from funds seized from the AERO Institute as part of the investigation.
Investigation suppressed by Trump administration reveals obstacles to hurricane aid for Puerto Rico
Congress requested the investigation into the delays to recovery aid for Puerto Rico after Hurricanes Irma and Maria in 2017 left residents of the US territory without power and clean water for months. WASHINGTON — The Trump administration put up bureaucratic obstacles that stalled approximately $20 billion in hurricane relief for Puerto Rico and then obstructed an investigation into the holdup, according to an inspector general report obtained by The Washington Post. Several former senior administration officials in the Office of Management and Budget refused to provide requested information about decision-making related to the Puerto Rico relief funds. The 46-page report presents an incomplete picture of the political influence of the Trump White House on delaying disaster relief for the struggling island. While investigators interviewed 20 current and former HUD officials and two Puerto Rico housing officials, they had no access to Carson.
For sale: Homes on Magnolia Road, in Swampscott and Milton
From the front porch, enter through a mudroom with bench seat into a sun-soaked living room with a decorative mantel. At right, the updated kitchen has soapstone counters, white Shaker cabinets, and stainless appliances; an open dining room is across the breakfast bar. Beyond the dining room at left, the remodeled kitchen has two-toned cabinetry, granite counters, stainless appliances, and a nearby half bath. A family room open to the kitchen offers access to the deck and large backyard with swing set. Upstairs, three bedrooms with big closets—one is a walk-through, another has steps to the attic—share an updated bath.
New state unemployment claims fell last week to pandemic low
In addition, 133,000 new claims were filed for Pandemic Unemployment Assistance, a federal program that covers freelancers, part-timers, and others who do not qualify for state benefits. New claims for unemployment benefits fell last week to the lowest level of the pandemic, the US government reported Thursday, offering fresh evidence of the labor market’s recovery. In Massachusetts, about 12,900 individuals filed new claims for unemployment benefits, down roughly 1,550 from the week prior, at the lowest level since the onset of the pandemic. Another 2,100 individuals filed claims under the Pandemic Unemployment Assistance program, roughly the same number as the week prior. AdvertisementAbout 96,340 people in Massachusetts continued to collect regular unemployment benefits for the week ending April 10, down 7,990 from the previous week and the seventh consecutive week of decline.
Rockland Trust inks billion-dollar deal to buy East Boston Savings Bank
Rockland, meanwhile, is offering an all stock deal at the East Boston Savings board’s request, which provides some tax advantages to the holders of shares in the bank being sold. Each shareholder in Meridian Bancorp, the holding company of Peabody-based East Boston Savings, will get 0.275 of a share of Independent Bank Corp., Rockland’s holding company. East Boston Savings, with its $6.5 billion in assets, will bring Rockland up to $20 billion in assets once the deal is completed toward the end of this year. Rockland’s branch network, consisting of about 100 locations, is roughly double the size of East Boston Savings Bank’s 40-plus. Rockland, now headquartered in Hanover, employs about 1,400 people, while East Boston Savings employs around 500.
99 Ranch will open a new-concept grocery store at San Jose’s Oakridge Mall
The nation’s largest Asian grocery chain — 99 Ranch Market — will soon join Macy’s, Target and Century Theatres as an anchor tenant at South San Jose’s Westfield Oakridge Mall. This 99 Ranch will be the chain’s first location inside a mall and its first new-concept store in California. Even before the pandemic, Oakridge had announced plans to broaden its offerings with non-traditional mall tenants. The South San Jose grocery will be the 54th U.S. store in the Taiwanese-American chain. CEO Roger H. Chen founded 99 Ranch in Orange County in 1984, and the headquarters office remains there.
6 displaced after house fire in central Las Vegas
Crews battle a house fire Thursday, April 22, 2021, on the 2000 block of Las Verdes Street in Las Vegas. (Las Vegas Review-Journal)Crews battle a house fire Thursday, April 22, 2021, on the 2000 block of Las Verdes Street in Las Vegas. (Las Vegas Review-Journal)Crews battle a house fire Thursday, April 22, 2021, on the 2000 block of Las Verdes Street in Las Vegas. (Las Vegas Review-Journal)Crews battle a house fire Thursday, April 22, 2021, on the 2000 block of Las Verdes Street in Las Vegas. (Las Vegas Review-Journal)Six people were displaced after a house fire Thursday afternoon in central Las Vegas.
Stocks end lower after report on Biden’s tax proposal
A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal. The S&P 500 fell 0.9%, wiping out an early gain. The selling was widespread, with every sector in the S&P 500 closing lower. The S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday. Washington aside, investors are focusing on earnings as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results.
1 injured in 2-vehicle crash in Henderson
Speed and impairment were not believed to be a factor, police said. Henderson Police Department (Las Vegas Review-Journal)One person was injured after a two-vehicle crash Thursday afternoon in Henderson. The crash occurred just before 1:20 p.m. near Whitney Mesa Drive and Mountain Vista Street, according to a release from the Henderson Police Department. The injured person was taken to a local hospital. The Henderson Fire Department also responded.
Supreme Court: FTC can’t use court injunctions to get refunds for wronged consumers
In a 9-0 ruling Thursday, the nation’s high court sided with AMG Capital Management, a high-interest, short-term loan company, in its case against the FTC. The federal agency had successfully sued AMG for deceptive practices and won $1.27 billion in restitution for consumers. AMG filed suit, arguing that the 1973 law governing the FTC didn’t explicitly spell out that the agency has the authority to mandate refunds. That was even though the FTC has, for decades, used the courts to force companies that defraud consumers to pay them back. The AMG case was similar to an Illinois case involving Credit Bureau Center.
Federal program helps keep Southwest profitable in 1Q
A Southwest plane takes off from McCarran International Airport on Tuesday, March 31, 2020, in Las Vegas. McCarran’s projections are for 1.5 million seats in June, 1.7 million seats in July and 1.8 million seats in August. The company is in the midst of adding 17 new airport destinations, including Chicago’s O’Hare International Airport, Sarasota Bradenton International Airport in Florida, Colorado Springs Municipal Airport, Savannah-Hilton Head International Airport in South Carolina, Houston’s George Bush Intercontinental Airport, Bellingham, Washington International Airport, Eugene Airport in Oregon and Santa Barbara Airport in California. Among the new destinations coming up are Fresno Yosemite International Airport in California beginning Monday, Myrtle Beach International Airport on May 23 and Jackson-Medgar Wiley Evers International Airport in Mississippi and Bozeman Yellowstone International Airport in Montana starting June 6. But, because many companies have re-examined business travel in the COVID-19 era and others have substituted technology and communicating online to in-person meetings, Kelly fears there could be a decline in business travel.
Typo in betting line on Browns-KC game costs BetMGM $10K
A typographical error in a betting line on a Cleveland Browns-Kansas City Chiefs game in January led to a $10,500 windfall for nine eagle-eyed bettors. It involved the Jan. 17 game, specifically a so-called proposition or “player prop” bet on the game performance of the two quarterbacks, Cleveland's Baker Mayfield and Kansas City's Patrick Mahomes. Five customers of BetMGM pounced on it, as did four on Borgata Online before the odds were corrected. FanDuel initially sought to void the bets, but then changed course and agreed to pay them, according to state documents. New Jersey regulators also ordered FanDuel last August to honor 11 soccer bets that were based on erroneous betting lines.
Countering Biden, GOP pitches $568B for infrastructure
The GOP’s slimmer infrastructure plan received a positive reception from the White House, with press secretary Jen Psaki characterizing it as a legitimate starting point for negotiations. Republican lawmakers have been quick to criticize the infrastructure proposal from Biden. The senators delivered their blueprint to the White House about 30 minutes prior to holding a press conference on it. “Any infrastructure proposal has to be green and cannot be paid for on the backs of working people,” Senate Majority Leader Chuck Schumer, D-N.Y. said. White House officials declined to confirm the precise numbers, but they emphasized that taxes would not increase for anyone making under $400,000.
Connecticut lawmakers pass tax bill directing legal weed revenue to address equity and the impact of the war on drugs
The judiciary committee advanced a bill earlier this month to legalize recreational marijuana. It calls for 55% of marijuana revenue to go to communities that have been most impacted by the war on drugs and about 15% of the money to go toward substance abuse prevention and recovery efforts.
Typo in betting line on Browns-Chiefs game costs BetMGM $10K
A typographical error in a betting line on a Cleveland Browns-Kansas City Chiefs game in January led to a $10,500 windfall for nine eagle-eyed bettors. It involved the Jan. 17 game, specifically a so-called proposition or “player prop” bet on the game performance of the two quarterbacks, Cleveland's Baker Mayfield and Kansas City's Patrick Mahomes. Five customers of BetMGM pounced on it, as did four on Borgata Online before the odds were corrected. FanDuel initially sought to void the bets, but then changed course and agreed to pay them, according to state documents. New Jersey regulators also ordered FanDuel last August to honor 11 soccer bets that were based on erroneous betting lines.
Stellantis worker dies in 'workplace accident' in Sterling Heights
A Stellantis NV employee died this week while on the job at the Sterling Stamping Plant in Sterling Heights, the transatlantic automaker confirmed Thursday. In a Facebook post, Local 1264 identified the individual as a third-shift crane operator. "Stellantis confirms that there was a workplace accident at the Sterling Stamping Plant on April 21, resulting in the death of one of our employees," spokeswoman Jodi Tinson said in a statement. On behalf of all UAW members and UAW Stellantis members, our hearts go out to the family of our deceased Brother.”The incident comes ahead of Workers Memorial Day on Wednesday. "Everyday our UAW members kiss their families goodbye and head to work proud of their craft and with hopes for their future.
Airlines waiting for word from Boeing on fixing Max planes
More than 100 new Boeing 737 Max jetliners remain grounded by problems with an electrical issue in some components, and airlines are waiting for Boeing to come up with a plan for repairing the planes. The electrical issue affects certain planes that were delivered recently to airlines. Boeing discovered the problem on its assembly line and reported it to the FAA on April 7. The FAA said the issue affects 106 planes worldwide, including 71 registered in the United States. It is the latest problem with the 737 Max, which was grounded worldwide for nearly two years following two crashes that killed 346 people.
Crow Tribe to approve cannabis ordinance in Montana
The state approved the recreational use of marijuana in 2020, and lawmakers have since tried to determine what the legal growing and selling of cannabis will look like by 2022. White Clay, who took office a month later, said the Crow Tribe is generally accepting of the legalization of marijuana. Plans for the tribe to launch its own dispensaries are in beginning stages, and the ordinance could change, White Clay said. Thor Hoyte, legal counsel for the Crow Tribe, said both White Clay and other tribal leaders have been in conversation with the state to avoid any confusion regarding marijuana’s legal status. He said the tribe will run parallel to the state, despite having sovereignty and not needing state permission.
WATCH: How the historic disqualification of a Kentucky Derby winner happened
WATCH: How the historic disqualification of a Kentucky Derby winner happenedThe disqualification of Maximum Security in the 2019 Kentucky Derby was unthinkable. Here's how it went down.
Oscars sells out ad inventory despite awards show ratings declines
Disney Advertising Sales said Thursday it's sold out of ad inventory for the 93rd Oscars telecast on ABC this Sunday. Despite stagnating ratings and production that caters to pandemic safety, advertisers are still turning to the Oscars. Ratings for awards shows had been slipping even before the pandemic. The Golden Globe Awards ceremony in late February, for instance, was rife with technical hiccups. Kantar said despite dwindling viewership and the pandemic's impact on the economy, ABC hasn't made major changes to ad pricing.
How will Biden's climate plan affect everyday Americans
President Joe Biden's ambitious plan to slash greenhouse emissions by 50 to 52 percent over the next decade could prompt sweeping changes that could affect how Americans eat, drive and heat their homes. Biden announced the goal to cut emissions by 2030, compared with 2005 levels, at the start of a two-day climate summit on Thursday. But he is yet to release any firm details on exactly how such a plan will affect the daily lives of ordinary Americans. Taxpayers could fork out trillions of dollarsIndustry leaders say Biden's climate plan, while there are no cost specifics yet, could end up costing American taxpayers trillions of dollars. David Williams, president of the Taxpayers Protection Alliance, told DailyMail.com that Biden's plan is just a 'multi-trillion dollar corporate welfare giveaway'.
'A sin to waste': Montana tribe provides COVID-19 vaccinations at Alberta border crossing
Share this Story: 'A sin to waste': Montana tribe provides COVID-19 vaccinations at Alberta border crossing'A sin to waste': Montana tribe provides COVID-19 vaccinations at Alberta border crossing With almost all its population vaccinated, Blackfeet give Pfizer and Moderna shots to 450 Albertans Photo by Octavio Jones / ReutersArticle content A long line of cars was backed up at the Carway border crossing in southern Alberta this week as First Nations members and others took advantage of free COVID-19 vaccinations from the Blackfeet Tribe in Montana. Try refreshing your browser, or 'A sin to waste': Montana tribe provides COVID-19 vaccinations at Alberta border crossing Back to video Many members of the reservation, 150 kilometres south of Lethbridge, have relatives in Canada and, with a lot of extra vaccine, they decided to see if they could help, he added. McNeely said those who need second Pfizer shots were given them, while others were offered the Moderna vaccine. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
FACT SHEET: Biden Administration Advances Electric Vehicle Charging Infrastructure
One of the perks of driving an electric vehicle is never needing to go to the gas station. But public charging infrastructure will provide a key role for people without off-street parking and for longer trips. The DOT also issued a new report clarifying how its programs can be used for EV charging infrastructure. on three EV charging related topics: DOE and the Electric Power Research Institute (EPRI) also announced a national EV charging technical blueprint including fast charging and grid interaction. Installing EV charging infrastructure at federal facilities is a key component of the transition to a zero-emission fleet.
Great expectations: US firms beat profit estimates at record rate
With results in from 110 of the S&P 500 companies as of Thursday, 85.5 percent have beaten analysts’ estimates for earnings per share, according to Refinitiv’s data. While it’s still early in the earnings period, a record percentage of first-quarter profit reports from major United States companies are coming in above analysts’ expectations. With results in from 110 of the S&P 500 companies as of Thursday, 85.5 percent have beaten analysts’ estimates for earnings per share, according to Refinitiv’s data. An average of 78 percent of companies have beaten earnings estimates in the past four quarters. To be sure, the S&P 500 is up less than 1 percent since mid-April when the earnings period kicked into high gear.
Latin American environmental rights treaty enters into force
Honduran Berta Caceres - shot dead at her home in March 2016 - is just one many environmentalists killed in Latin America for their advocacy workAdvertising Read moreSantiago (AFP)As the world marked Earth Day, the first-ever treaty to protect the rights of environmental defenders was ratified by the Latin American region. With the final 12 ratifications required, the Escazu Agreement adopted by countries of Latin America and the Caribbean in Costa Rica in 2018, entered into force. The region has a poor track record in this area, with about 60 percent of the world's murdered environmentalists. "In 2019, 201 environmental defenders were killed worldwide, two thirds of them in our region, and in 2020 it was worse," said Alicia Barcena, secretary general of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). According to the commission, the agreement is the "the first environmental treaty in Latin America and the Caribbean, and the only one of its kind worldwide that enshrines the protection of human rights defenders in environmental matters."
Biden Administration Announces Restrictions on Overseas Fossil Fuel Financing but Remains Silent on EXIM and Other Key Agencies
In the past five years, DFC and its predecessor, Overseas Private Investment Corporation, approved almost $4 billion for overseas fossil fuel projects. In addition, EXIM has approved over $5 billion for fossil fuel projects abroad in just the last two years. Conspicuously missing is any commitment to curb fossil fuel financing by the U.S. Export-Import Bank (EXIM), which is the U.S. export credit agency and the largest source of U.S. Government financing for fossil fuel projects abroad. This failure stands in stark contrast to the United Kingdom’s ending of its support for overseas fossil fuel projects as of March 31, 2021. These institutions finance billions in fossil fuel projects a year, and importantly, also influence policy changes in client countries that enable fossil fuel expansion and dependency.
CJA Calls on US, Biden to Adopt Real Solutions to the Climate Crisis, Pay Their Fair Share Through Safe Solutions & Comprehensive Investments
WASHINGTON - Today, many in the US will shift their focus to climate change and the myriad ways people can work to stop it. Frontline communities will continue organizing trans-locally to fight the bad and build the new in their own neighborhoods, cities and states. One key objective of this summit and COP26 for the Biden Administration is “to catalyze efforts that keep that 1.5-degree goal within reach. Climate Justice Alliance (CJA) welcomes US commitments to pay their fair share and invest in a Green Climate Fund. However, the focus on promoting market-based approaches and unproven techno-fixes will only further harm Black, Indigenous, People of Color (BIPOC) communities here and in the Global South.
On Earth Day, 350 US Sends Clear Message to Biden Administration as Climate Summit Unfolds
Commitments from the Biden administration, including reports of a 50% reduction of emissions at 2005 levels by 2030, fall short of the United States’s fair share of global climate action. There can be no meaningful climate action if we don’t keep all fossil fuels in the ground. The climate clock, which has been on display in New York, Union Square is a reminder of the urgent need to take immediate climate action at scale. “There can be no meaningful climate action if world leaders don’t make a decisive move to keep all fossil fuels in the ground. The Biden Summit is a critical meeting of world leaders ahead of COP26 this November.
Oil Change International Response to Biden Administration Announcements on International Finance
WASHINGTON - As part of its International Climate Finance Plan announced during today’s Leaders Summit on Climate, the Biden Administration committed to "end international investments in and support for carbon-intensive fossil fuel-based energy projects" at multilateral and bilateral finance agencies such as the U.S. International Development Finance Corporation and U.S. Export-Import Bank. While welcome, the announcement fell short of other recent commitments by other institutions and countries. In response to the announcement, Collin Rees, Senior Campaigner at Oil Change International made the following statement:SCROLL TO CONTINUE WITH CONTENT Nonprofit. "Today’s announcement by President Biden on international finance for fossil fuels is a welcome step, but the lack of firm commitments falls short of what’s needed. "We urge the Biden administration to add a clear commitment to an immediate phase-out, with no loopholes for gas or any other continued fossil support."
Oil Change International Response to Leaders Climate Summit
WASHINGTON - Today, world leaders have gathered virtually at a so-called “Leaders Summit on Climate” hosted by the Biden administration. In response, Oil Change International experts provided the following statements:David Turnbull, Strategic Communications Director:“True climate leadership requires a full reckoning with the realities of what’s driving our climate crisis: fossil fuels. “Continued fossil fuel production impacts those on the frontlines of extraction and related infrastructure every day, adding to the historic injustices our extractive economy has perpetuated. Korea announced an end to coal financing, and, though woefully incomplete, the US reiterated it is taking steps towards ending overseas finance for fossil fuels. Distant carbon neutrality pledges and revised NDCs will continue to ring hollow as long as countries fail to address the root of the climate crisis: our continued reliance on fossil fuels.”###
IEN Statement on Biden’s First Day of the Summit on Climate Change
WASHINGTON - Today, President Biden has world governmental leaders attending his virtual Leaders Summit on Climate Change. The world governments invited include 17 countries responsible for about 80% of all global emissions. “Net-zero” emissions sounds like it cuts emissions to zero but it does not. “Net-zero” emissions pretend to “remove” pollution with false solutions to climate change to justify polluting more. However, these techno-fixes are expensive, unproven, unjust and do not address the root causes of climate change nor support environmental justice.
Big Banks Are Fueling the Climate Emergency
That's right, the world's biggest banks are responsible for fueling the climate crisis. According to a report from the Rainforest Action Network, the world's 60 biggest banks have financed $3.8 trillion worth of fossil fuel companies, just since the passage of the Paris Climate Agreement. America's largest banks—JP Morgan Chase, Wells Fargo, and CitiGroup—have each put more than $200 billion of fossil fuel interests in the past five years. Of course, the banks don't want you to know that. Unlike the big banks, these options don't use deposits to fund oil pipelines, fossil fuel companies, or other investments that contribute to climate destruction.
'If You Want to Save the USPS,' Says Watchdog, 'Fire Louis DeJoy'
Citizens for Responsibility and Ethics in Washington on Thursday reiterated its call for the ouster of Postmaster General Louis DeJoy, the Republican megadonor accused of attempting to sabotage the U.S. Today, Biden’s nominees to the USPS Board of Governors will testify before a Senate committee. "If you want to save the USPS," it added, "you have to fire Louis DeJoy." Under "Delivering for America"—denounced by Sen. Tammy Duckworth (D-Ill.) as a "pathetic 10-year plan to weaken USPS," DeJoy would raise prices, cut administrative costs, and slow down deliveries. "To that end, an additional question we'd appreciate you clearing up for us tomorrow: will you move to fire Postmaster General DeJoy for his arson, and if not, why not?"
WATCH LIVE: Biden White House Hosts Earth Day Summit on Climate Emergency
Just ahead of the gathering, President Joe Biden announced new U.S. commitments to meeting the goals set forth in the 2015 Paris climate agreement and said that the nation will now aim to reduce annual carbon output by 52% compared to 2005 levels. "Our clean energy plan will create millions of good-paying union jobs, ensure our economic competitiveness, and improve the health and security of communities across America," Biden said in a declaration released ahead of the summit. "By making those investments and putting millions of Americans to work, the United States will be able to cut our greenhouse gas emissions in half by 2030." But, without support from our readers, we simply don't exist. Watch the summit live:
Greta Thunberg Says Humanity Must Not Be Fooled by 'Bullsh*t' Climate Targets of World Leaders
—Greta ThunbergPosted online by NowThis News, the video featuring Thunberg comes as a warning from the well-known global climate campaigner that the people of the world should not be fooled by the lofty rhetoric they will hear at the summit. "At the Leaders' Climate Summit, countries will present their new climate commitments, like net-zero emissions by 2050," Thunberg says in the video. But when you compare our insufficient targets with the overall current best available science, you clearly see that there's a gap. And the gap between our so-called climate targets and the overall, current best-available science should no longer be possible to ignore." Along with other witnesses, Thunberg is testifying before congressional lawmakers on Thursday during a hearing convened by the House Subcommittee on the Environment.
The Pattern of Over-Policing Drivers
The Florida Clerk of Courts Operations Corporations estimated that at least $20.8 million of its revenue came from the payment of license suspension debt. “The creation of all these offenses … create these regulations that have to be enforced; they make it so everyone is constantly breaking the law or out of regulation. They generate revenue by over-policing,” Dindial said. For instance, the authors of the report found that each year, over 100,000 Coloradans lose their licenses because of unpaid traffic debt or failure to appear in court. In 2019, Florida issued 1.2 million license suspension notices, 70 percent of which stemmed from the failure to pay fines and fees.
Are we doing it again? GOP Infrastructure not a viable alternative. President Biden don't go there
thehill.com/…Are we trying this dance again The Republicans do not bargain in good faith They will put a bill that accomplishes nothing; vote against it and them run against it in the midterms How many times do have to burn our hands on a hot stove before we realize “we get burnedFROM THE ARTICLE:Republicans have largely balked at Biden's American Jobs Plan proposal, which outlines $2.3 trillion worth of spending to invest in roads, bridges, railways, electric vehicles, broadband, long-term care workers, weatherizing buildings and climate friendly industries. Biden proposed paying for the plan through an increase in the corporate tax rate, though he has said he'd be willing to discuss ways to fund the proposal. The proposal unveiled Thursday by a group of Senate Republicans led by Sen. Shelley Moore Capito (R-W.Va.) narrowed down the definition of infrastructure and focused on funding for roads and bridges, public transit systems, rail, wastewater infrastructure, airports and broadband infrastructure. Senate Republicans are proposing user fees for electric vehicles and repurposing unused federal spending allocated by the $1.9 trillion American Rescue Plan Congress passed in March to cover the cost of the plan. This alone is unaccountable We need a bold bill that accomplishes something that will improve the lives of most Americans and Yes: give the voters to vote for something in 2021 I hope Biden does not fall for this
Yet ANOTHER Republican corruption scandal has just blown open in North Carolina
Live coverage of the North Carolina General AssemblyWe got a telling glimpse into how business is done by the Republican majority in North Carolina’s state legislature this week. Guess Who Got PPP Loans in North Carolina? One analysis showed that 50% of PPP loan money in North Carolina went to just 4% of businesses. This means that all of these lawmakers would personally profit from changing the tax treatment of PPP loans. Read more: “Cockroach Theory and Political Corruption in the North Carolina GOP”Carolina Forward is a progressive policy organization dedicated to building a more just, democratic and prosperous North Carolina.
From persuasion to coercion: Beijing’s approach to Taiwan and Taiwan’s response
Executive summaryBeijing’s goal concerning Taiwan is decidedly revisionist. That formula was unacceptable to Taiwan’s authoritarian leaders when it was first developed in the late 1980s. Once Taiwan made the transition to democracy in the early 1990s, the public rejected it as well. Democracy also opened the door to the minority on Taiwan who wanted de jure independence and total separation from China, a source of great concern in Beijing. Worse yet for China, Ma was succeeded in 2016 by Tsai Ing-wen, the leader of the Democratic Progressive Party, which Beijing associates with the goal of independence.
George Floyd Daunte Wright The Virus that Ails Us
The system that Powell advocated has today become a corrupt political and corporate oligarchy. Today, 76 percent of the US public supports higher taxes on the wealthy, 80 percent of the US public supports Medicare for All, 76 percent of the US public supports a $15 minimum wage, 60 percent of the US public support tuition-free college, 73 percent of the US public support abortion rights, 96 percent of the US population supports an equal rights amendment, and 63 percent of the US public supports greater environmental regulation. Yet, five unelected lifetime members of the Supreme Court and the bribed members of Congress by the unelected dictatorship of corporate and billionaire campaign contributions deny "we the people," of what we want, and murder our citizens like George Floyd with impunity. The values that sustain our open society have been crushed by the virus of greed. Only then, will the life taken from George Floyd, Daunte Wright, and all the other innocent martyrs, victims of centuries old white racism, arrogance and hubris, ignorance and hate, not be in vain.
72-Year-Old Fisher Hunger Strikes to Press Biden to Revive Crude Oil Export Ban
“It’s got nothing to do with the well-being of this country; it’s sending crude fossil fuel over to other countries.”“It’s got nothing to do with the well-being of this country; it’s sending crude fossil fuel over to other countries,” Wilson tells Truthout. It really is a mess, and they’re trying to expedite it.”Congress’s reversal of the 40-year-old crude oil export ban in 2015 has enabled a massive fracking boom in Texas’s methane-blasting Permian Basin oil fields and elsewhere, driving an expansion of oil export infrastructure projects. Since the ban was lifted in 2015, fossil fuel exports have skyrocketed, increasing 750 percent, according to an analysis by Greenpeace USA and Oil Change International. Banning U.S. public financing for overseas fossil fuel projects and exports of U.S. crude oil overseas, they say, is low-hanging fruit. Everything is incremental.”The president could ban fossil fuel exports immediately by declaring a national climate emergency.
Stocks end lower after report on Biden’s tax proposal
A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal. The S&P 500 fell 0.9%, wiping out an early gain. Death and taxes:Americans grapple with filing the final tax return for deceased relatives in a pandemic yearThe selling was widespread, with every sector in the S&P 500 closing lower. The S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday. Washington aside, investors are focusing on earnings as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results.
West Virginia coal miners blast Biden's green energy push, says they’re ‘bracing for the worst’
West Virginia coal miners ripped President Biden’s green energy push and said they’re "skeptical" those jobs even exist. The nation’s largest coal miners’ union in West Virginia said this week it will accept Biden’s move in exchange for guaranteed jobs for its displaced miners. President Biden campaigned on eliminating coal-fired electricity, and he's basically taken those initial steps since he's taken over the White House," West Virginia Coal Association President Chris Hamilton told FOX Business’ Grady Trimble. The West Virginia coal mines are used to generate 20% of the nation’s electricity, Trimble reported. The West Virginia Coal Association president added the miners are passionate about the work they do, and are the most "competent, highly-skilled" industrial workers in the nation.
Intel beats EPS and revenues in Q1
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel beats EPS and revenues in Q1Josh Lipton joins 'Closing Bell' to report Intel's first quarter earnings. The company reported $1.39 per share and $18.57 billion in revenue compared with an estimated $1.15 per share and $17.90 billion in revenue.
Wells Fargo's Scott Wren says higher taxes will create 'headwind' for stocks
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Scott Wren says higher taxes will create 'headwind' for stocksScott Wren, Wells Fargo investment institute, joins 'Closing Bell' to discuss the impact of Biden's high capital gains taxes on the stock market.
Bernstein's Stacy Rasgon: Even if Intel succeeds, they're still going to be behind on process
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Stacy Rasgon: Even if Intel succeeds, they're still going to be behind on processStacy Rasgon, Bernstein research SVP and senior analyst of U.S. semiconductors, joins 'Closing Bell' to discuss Intel's first quarter earnings.
WWE CFO: We continue to evolve in the media landscape
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWWE CFO: We continue to evolve in the media landscapeKristina Salen, WWE CFO, joins 'Closing Bell' to discuss its business during first quarter earnings.
Rental cars are hard to come by these days—how your credit card may be able to help you save on the cost
Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. Unfortunately, there's not much that having a credit card with car rental insurance can do to lower rental car costs, other than help pay if the car gets damaged. However, you can use travel rewards and/or cash back to make your vacation more affordable. Below are some of our top-rated travel cards that let you redeem your rewards for car rentals. Depending on your spending habits, some of these cards can help you earn up to $2,000 over the next five years according to our methodology.
'I just became a dogecoin millionaire': This 33-year-old invested his savings in the meme cryptocurrency with inspiration from Elon Musk
After learning about the meme cryptocurrency on Reddit, Contessoto says he invested over $180,000 in dogecoin on Feb. 5, when it was priced at about 4.5 cents. And like many holders of dogecoin, "a reason why I put my savings into dogecoin is Elon Musk," who has repeatedly tweeted about the cryptocurrency. His friends were critical of the meme cryptocurrency and warned him to be careful. In addition, dogecoin does not have a supply cap like bitcoin does, all of this making it a much more risky investment, according to experts. Whatever the case, Contessoto realized that meant his dogecoin investment had grown to be worth over $1 million.
Mattel sales soared 47% as parents bought toys with stimulus checks, toymaker raises outlook
Toymaker Mattel said Thursday that its sales jumped 47% as families spent more on toys for their children, helped by more disposable income due to government stimulus checks. Typically, the first quarter is a weak period for toy sales, as it follows the influx of holiday sales during the previous quarter. Excluding items, Mattel lost 10 cents per share, which is less than the loss of 35 cents per share expected by analysts surveyed by Refinitiv. Revenue rose 47% to $874.2 million from $594 million a year ago, beating analysts' expectations of $684.2 million. The company continued to see strong sales of dolls, with net sales of its American Girl brand rising 22%.
$100 million NJ deli company was delisted for 'irregularities' — related firm E-Waste is under scrutiny, too
The $100 million company that owns a New Jersey deli was delisted from an over-the-counter market platform because of public disclosure "irregularities," according to the firm that booted that the mysterious delicatessen operator. OTC Markets Group executives also told CNBC on Thursday that they are now examining the filings of a second firm — E-Waste — a shell company that has multiple ties to deli owner Hometown International. Like Hometown International, E-Waste has an incredibly high market capitalization despite having little if any significant business operations. "Frequently, we have a lot of back-and-forth with the SEC," Zinn said in an interview. Hometown International officials did not return requests for comment.
How the Biden capital gains tax proposal would hit the wealthy
Capital gains taxInvestors currently pay a 23.8% top rate on long-term capital gains. Under current law, long-term capital gains are taxed favorably with respect to wages. The White House plan would instead tax capital gains as ordinary income, at a top proposed rate of 39.6%. For example, the plan may exempt a certain portion of wealthy investors' capital gains from the higher tax, according to tax experts. "There will be plenty of time to plan and respond to any tax or tax proposal that's ultimately in place," he added.
Shortage of semiconductors, dubbed the 'new oil,' could dent GDP growth, boost inflation
Yuichiro Chino | Moment | Getty ImagesEconomic growth could slow and inflation is likely to see at least a momentary bump higher as the semiconductor shortage worsens, economists say. With semis at the core of so much U.S. economic activity, the ongoing supply problems are likely to have ripples. That would boost inflation as much as 0.4 percentage points through the rest of the year, the firm said. "Taken together, while we see relatively modest implications of the semiconductor shortage for GDP growth and the industrial sector, it represents another reason to expect core goods inflation to remain firm this year," Goldman economist Spencer Hill said in a note. Goldman said the impact could reach as high as a 1% subtraction from activity, but likely will be closer to 0.5%.
Investors shouldn't be shocked that Biden wants to raise taxes on the rich, strategists say
U.S. President Joe Biden pauses while speaking on his administrations Covid-19 response in the State Dining Room of the White House in Washington, D.C., U.S., on Thursday, Jan. 21, 2021. Wall Street was spooked intraday Thursday by reports that President Joe Biden is considering a proposal to significantly raise capital gains taxes on wealthy Americans, sending all three major U.S. stock indexes lower. However, some strategists and policy analysts say the proposal is nothing new and likely won't get through in its most extreme form. The plan was reported Thursday first by Bloomberg News and later by other media outlets. This is exactly what Biden had ran on," Ed Mills, a Washington policy analyst at Raymond James, said Thursday on CNBC's "Closing Bell."
Delta orders 25 additional Airbus A321neo jetliners, options for 25 more
Ed Bastian, chief executive officer of Delta Air Lines Inc., attends a news conference at a mass covid-19 vaccination site at the Delta Flight Museum in Hapeville, Georgia, on Wednesday, Feb. 25, 2021. Delta Air Lines is buying 25 more Airbus A321neo planes, according to a company memo sent on Thursday. The new sale brings Delta's A321neo firm orders to 125 planes. The Atlanta-based carrier also has options for 25 more of the narrowbody jetliners, said the memo, which was seen by CNBC. Check back for updates.
Restaurants face labor shortage as people are ready to dine out
The weather is warming up and more people are getting vaccinated each day, which means that people have been returning to restaurants in a big way. But one problem that the industry faces is a serious labor shortage to meet the demands of their eager customers. From fast food to fine dining, the service industry is in serious need of staff members. Many workers are still out of work due to COVID-19 fears or because they're waiting to get vaccinated. Others have moved due to the pandemic, or been scooped up by companies like Amazon that have been hiring workers in droves.
Canada's Ontario grapples with third wave, blame piled on its premier
Ontario Premier Doug Ford is seen after a meeting with Canada's provincial premiers in Toronto, Ontario, Canada December 2, 2019. REUTERS/Carlos Osorio/File PhotoOntario Premier Doug Ford, facing backlash over his government's handling of the pandemic, resisted calls to resign on Thursday as Canada's most populous province grappled with a third wave of COVID-19 infections that critics said could have been prevented. Ontario had 3,682 new infections on Thursday and 40 deaths, the highest of any province. Ford's Progressive Conservatives(PC) trailed the opposition provincial Liberals by one point in the same poll, ahead of a June 2022 provincial election. "This does remind me of 2019 where absolutely the best asset in Ontario for the federal Liberal Party was Doug Ford," a well-placed Liberal source said.
US summit shows ‘long way to go’ in global climate fight
Some leaders made promises, some just made speeches during the first day of Biden's virtual global leaders' summit, with those vows falling short of what's needed to bring global warming under control. "Today’s summit shows the tide is turning for climate action, but there is still a long way to go. His climate envoy John Kerry said Tuesday that the administration plans to go well beyond an initial $1.2 billion commitment to a Global Climate Fund, to which the U.S. is $2 billion in arrears. India’s Prime Minister Narendra Modi instead warned that fighting climate change was also a question of lifestyle. The Chinese government — which last week agreed to work with Biden to get climate change under control — has been particularly scathing.
Leaded gas was phased out 25 years ago. Why are these planes still using toxic fuel?
Leaded aviation fuel, or avgas, now makes up “the largest remaining aggregate source of lead emissions to air in the U.S.,” according to the Environmental Protection Agency. “There is no option and [lead fuel] is all you can use,” Jeffrey said. But the Trump administration slowed down research into leaded fuel, said Desrosier, of the General Aviation Manufacturers Association. While the private sector has made some efforts to introduce newer unleaded fuels for piston-engine planes, lead avgas remains the dominant fuel. “It’s such a small market for aviation fuel that it has to be something that the fuel company won’t lose money on,” Knapinski said.
Colony Bankcorp: Q1 Earnings Snapshot
FITZGERALD, Ga. (AP) _ Colony Bankcorp Inc. (CBAN) on Thursday reported first-quarter net income of $4.9 million. The bank, based in Fitzgerald, Georgia, said it had earnings of 52 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to 53 cents per share. Its revenue net of interest expense was $22.9 million, beating Street forecasts. Colony Bankcorp shares have climbed slightly more than 2% since the beginning of the year.
WWE: Q1 Earnings Snapshot
STAMFORD, Conn. (AP) _ World Wrestling Entertainment Inc. (WWE) on Thursday reported first-quarter net income of $43.8 million. The producer of professional wrestling events and television shows posted revenue of $263.5 million in the period. WWE shares have risen 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $56.22, a climb of 42% in the last 12 months. Access a Zacks stock report on WWE at https://www.zacks.com/ap/WWE
Meridian Bancorp: Q1 Earnings Snapshot
(AP) _ Meridian Bancorp Inc. (EBSB) on Thursday reported first-quarter net income of $24.3 million. On a per-share basis, the Peabody, Massachusetts-based company said it had profit of 48 cents. Meridian Bancorp shares have risen 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.82, a rise of 72% in the last 12 months. Access a Zacks stock report on EBSB at https://www.zacks.com/ap/EBSB
Macatawa: Q1 Earnings Snapshot
HOLLAND, Mich. (AP) _ Macatawa Bank Corp. (MCBC) on Thursday reported first-quarter net income of $7.8 million. The Holland, Michigan-based bank said it had earnings of 23 cents per share. The holding company for Macatawa Bank posted revenue of $21.8 million in the period. Its revenue net of interest expense was $21 million, exceeding Street forecasts. Macatawa shares have increased 16% since the beginning of the year.
SC Senate OKs Santee Cooper reform bill without sale option
The bill would eventually get rid of every Santee Cooper board member who was serving when the nuclear project failed, staggering out the departures through 2025. Santee Cooper provides power for about 2 million of South Carolina’s 5 million people, either directly or through electricity sold to cooperatives. “I still think Santee Cooper is a Dumpster fire. I’m still concerned about the culture at Santee Cooper and I think it could fall apart at any time,” said Senate Majority Leader Shane Massey, R-Edgefield. But the Charleston Democrat predicted the Senate would be dealing with Santee Cooper problems again within three years.
Employers Holdings: Q1 Earnings Snapshot
RENO, Nev. (AP) _ Employers Holdings Inc. (EIG) on Thursday reported first-quarter net income of $23.1 million, after reporting a loss in the same period a year earlier. The Reno, Nevada-based company said it had net income of 80 cents per share. Earnings, adjusted for non-recurring gains, came to 51 cents per share. Employers Holdings shares have climbed 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.15, a climb of 27% in the last 12 months.
Airlines waiting for word from Boeing on fixing Max planes
Many new Boeing 737 Max jetliners are still grounded by an electrical problem in a backup power-control unit. The Federal Aviation Administration said Thursday, April 22, 2021 that 106 planes worldwide are grounded, including 71 in the United States. Airlines are waiting for Boeing to come up with a plan for repairing the planes, and that plan would need FAA approval. Many new Boeing 737 Max jetliners are still grounded by an electrical problem in a backup power-control unit. Airlines are waiting for Boeing to come up with a plan for repairing the planes, and that plan would need FAA approval.
Capstar Financial: Q1 Earnings Snapshot
NASHVILLE, Tenn. (AP) _ Capstar Financial Holdings Inc. (CSTR) on Thursday reported first-quarter earnings of $11 million. The bank, based in Nashville, Tennessee, said it had earnings of 50 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Capstar Financial shares have risen 19% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
N Carolina to help farmer costs for quarantined farmworkers
RALEIGH, N.C. (AP) — North Carolina has set aside money to reimburse farmers who bore the financial toll of quarantining their workers during the COVID-19 outbreak last year, a state agency said. The N.C. Department of Agriculture and Consumer Services said the state has made $2 million available for farmers who employ immigrant farmworkers with H-2A work visas that allow them to work temporarily in the U.S., The News & Observer of Raleigh reported Thursday. Funding for the department’s COVID-19 Farmworker Quarantine Reimbursement program comes from federal CARES Act money approved by the state legislature. The application period opened April 14 and will continue through Dec. 15, or until program funds are exhausted, the department said. ADVERTISEMENTThe exact economic toll of COVID-19 is unknown across the roughly 1,000 farmers in the state who employ H-2A workers.
Stocks end lower after report on Biden’s tax proposal
In this photo provided by the New York Stock Exchange, trader Fred DeMarco, right, works on the floor, Thursday April 22, 2021. (Courtney Crow/New York Stock Exchange via AP)In this photo provided by the New York Stock Exchange, trader Fred DeMarco, right, works on the floor, Thursday April 22, 2021. (Courtney Crow/New York Stock Exchange via AP)A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower. The selling was widespread, with every sector in the S&P 500 closing lower. ADVERTISEMENTThe S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday.
Overdose Deaths Surged In Pandemic, As More Drugs Were Laced With Fentanyl
Overdose Deaths Surged In Pandemic, As More Drugs Were Laced With FentanylEnlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty ImagesResearchers gathered for a conference on addiction this week received a grim update on the growing spread of street drugs laced with deadly synthetic opioids including fentanyl. Volkow said people are often consuming fentanyl "unbeknownst to them," resulting in a spike in overdose deaths. Deaths from methamphetamines and other stimulants also surged by roughly 46%, an increase Volkow said is linked to fentanyl contamination. In all more than 90,000 Americans died from overdoses in the latest 12-month period for which preliminary data is available. Preliminary data for the full year won't be available until mid-summer.
Snap Quarterly Earnings Beat On Revenue, Earnings, As Daily User Count Jumps
Snap (SNAP) reported better-than-expected earnings and revenue for its first-quarter late Thursday, as daily active users jumped 22% to 280 million. Snap stock climbed. XThe company reported a break-even quarter, or adjusted earnings of zero cents a share on revenue of $770 million. Snap stock climbed 2.7%, near 58.65, during after-hours trading on the stock market today. It's a smartphone app that can manipulate and enhance images and videos in numerous ways, which can then be sent to other Snapchat users.
Microsoft Corp. stock underperforms Thursday when compared to competitors
Shares of Microsoft Corp. MSFT, -1.31% slipped 1.31% to $257.17 Thursday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Microsoft Corp. closed $4.31 short of its 52-week high ($261.48), which the company achieved on April 19th. The stock underperformed when compared to some of its competitors Thursday, as Apple Inc. AAPL, -1.17% fell 1.17% to $131.94, Alphabet Inc. Cl A GOOGL, -1.13% fell 1.13% to $2,252.52, and SAP SE ADR SAP, +1.30% rose 1.30% to $143.75. Trading volume (25.5 M) remained 2.4 million below its 50-day average volume of 27.9 M.
Moderna Inc. stock outperforms market despite losses on the day
Shares of Moderna Inc. MRNA, -0.83% sank 0.83% to $168.10 Thursday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index COMP, -0.94% falling 0.94% to 13,818.41 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Moderna Inc. closed $21.16 below its 52-week high ($189.26), which the company reached on February 8th. The stock demonstrated a mixed performance when compared to some of its competitors Thursday, as AbbVie Inc. ABBV, -0.68% fell 0.68% to $110.05, Amgen Inc. AMGN, -1.44% fell 1.44% to $255.05, and AstraZeneca PLC ADR AZN, -0.75% fell 0.75% to $52.71. Trading volume (15.9 M) eclipsed its 50-day average volume of 8.9 M.
Alphabet Inc. Cl A stock outperforms competitors despite losses on the day
Shares of Alphabet Inc. Cl A GOOGL, -1.13% shed 1.13% to $2,252.52 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. This was the stock's third consecutive day of losses. Alphabet Inc. Cl A closed $51.57 below its 52-week high ($2,304.09), which the company achieved on April 19th. Despite its losses, the stock outperformed some of its competitors Thursday, as Apple Inc. AAPL, -1.17% fell 1.17% to $131.94, Microsoft Corp. MSFT, -1.31% fell 1.31% to $257.17, and Facebook Inc. Cl A FB, -1.64% fell 1.64% to $296.52.true Trading volume (1.2 M) remained 325,945 below its 50-day average volume of 1.5 M.Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.
Facebook Inc. Cl A stock underperforms Thursday when compared to competitors
Shares of Facebook Inc. Cl A FB, -1.64% slipped 1.64% to $296.52 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP, -0.94% falling 0.94% to 13,818.41 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Facebook Inc. Cl A closed $19.36 below its 52-week high ($315.88), which the company achieved on April 8th. The stock demonstrated a mixed performance when compared to some of its competitors Thursday, as Microsoft Corp. MSFT, -1.31% fell 1.31% to $257.17, Alphabet Inc. Cl A GOOGL, -1.13% fell 1.13% to $2,252.52, and Twitter Inc. TWTR, -4.49% fell 4.49% to $64.31. Trading volume (16.2 M) remained 2.7 million below its 50-day average volume of 18.9 M.Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.
Bank of America Corp. stock outperforms competitors despite losses on the day
Shares of Bank of America Corp. BAC, -0.93% slid 0.93% to $38.36 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Bank of America Corp. closed $2.02 short of its 52-week high ($40.38), which the company achieved on April 12th. Despite its losses, the stock outperformed some of its competitors Thursday, as JPMorgan Chase & Co. JPM, -2.11% fell 2.11% to $147.37, Citigroup Inc. C, -1.19% fell 1.19% to $69.81, and Wells Fargo & Co. WFC, -1.25% fell 1.25% to $42.70.true Trading volume (48.0 M) remained 7.2 million below its 50-day average volume of 55.1 M.
Tesla Inc. stock underperforms Thursday when compared to competitors
Shares of Tesla Inc. TSLA, -3.28% shed 3.28% to $719.69 Thursday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP, -0.94% falling 0.94% to 13,818.41 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Tesla Inc. closed $180.71 below its 52-week high ($900.40), which the company achieved on January 25th. The stock underperformed when compared to some of its competitors Thursday, as Toyota Motor Corp. ADR TM, -0.23% fell 0.23% to $154.78, General Motors Co. GM, -1.44% fell 1.44% to $56.66, and Honda Motor Co. Ltd. ADR HMC, +0.63% rose 0.63% to $30.24. Trading volume (35.3 M) remained 475,228 below its 50-day average volume of 35.8 M.Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.
Netflix Inc. stock outperforms market despite losses on the day
Shares of Netflix Inc. NFLX, -0.02% shed 0.02% to $508.78 Thursday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. This was the stock's third consecutive day of losses. Netflix Inc. closed $84.51 short of its 52-week high ($593.29), which the company reached on January 20th. Despite its losses, the stock outperformed some of its competitors Thursday, as Amazon.com Inc. AMZN, -1.58% fell 1.58% to $3,309.04, Walt Disney Co. DIS, -0.19% fell 0.19% to $182.76, and Comcast Corp. Cl A CMCSA, -0.47% fell 0.47% to $54.40.true Trading volume (9.0 M) eclipsed its 50-day average volume of 4.0 M.Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.
Johnson & Johnson stock outperforms market despite losses on the day
Shares of Johnson & Johnson JNJ, -0.85% shed 0.85% to $165.18 Thursday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. The stock's fall snapped a six-day winning streak. Johnson & Johnson closed $8.47 short of its 52-week high ($173.65), which the company achieved on January 26th. Despite its losses, the stock outperformed some of its competitors Thursday, as Roche Holding AG Part. See our market data terms of use.
Mansion Global Daily: Luxury Booming in the U.S., London’s Most Expensive Postcodes Also Sell at Biggest Discount, and More
The tax on luxury second homes in the five boroughs was nixed from the latest state budget, but remains to be a perennial proposal. South China Morning PostLondon’s Most Expensive Postcodes Also Sell at Biggest DiscountPrime Central London homes are selling at a deep discount, up to 20%, according to research from the U.K. investment firm Astons. Properties in posh areas like Mayfair and St. James have the top three postcodes with the biggest difference between asking and sold prices. Low interest rates and high mortgage availability are behind the demand, according to the company’s CEO, who doesn’t believe the end of the stamp duty holiday, set to start tapering off in June, will end the boom in demand. [The Wall Street Journal]5 Easy, Earth-Friendly Ways to Create a More Eco-Conscious Home [realtor.com]Landlords Are Getting Into the Swing With Golf Amenities [New York Post]Google Searches Asking When the Housing Market Will Crash Have Soared.
Deluxe to Scoop Up First American for $960 Million
Deluxe is buying First American Payment Systems for $960 million in cash, the biggest deal in its 106-year history. Deluxe also offers digital payments, cloud services, and web hosting for about 4,000 financial institutions and about 4.5 million small businesses. The company produced $300 million in revenue on $60 million of earnings before interest, taxes, depreciation, and amortization, or Ebitda. Once the First American transaction closes, Deluxe’s net-debt-to-Ebitda ratio will be about four times. Deluxe will be back on the hunt for deals, with First American functioning as a platform for future acquisitions, he said.
Berkshire Hathaway Inc. Cl B stock falls Thursday, underperforms market
Shares of Berkshire Hathaway Inc. Cl B BRK.B, -0.99% slumped 0.99% to $269.51 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.92% falling 0.92% to 4,134.98 and Dow Jones Industrial Average DJIA, -0.94% falling 0.94% to 33,815.90. Berkshire Hathaway Inc. Cl B closed $3.46 short of its 52-week high ($272.97), which the company reached on April 16th. The stock underperformed when compared to some of its competitors Thursday, as Honeywell International Inc. HON, -0.54% fell 0.54% to $229.26, 3M Co. MMM, +0.01% rose 0.01% to $200.90, and General Electric Co. GE, +0.45% rose 0.45% to $13.41. Trading volume (3.6 M) remained 1.7 million below its 50-day average volume of 5.3 M.Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.
Mattel stock rallies after Q1 sales nearly double
Mattel Inc. stock rallied late Thursday after the toy maker reported a narrower-than-expected quarterly loss and said its sales nearly doubled. Mattel MAT, +0.14% said it lost $115 million, or 33 cents a share, in the first quarter, compared with a loss of $211 million, or 61 cents a share, in the year-ago quarter.
Celanese stock gains after company's Q1 pricing boost
Shares of Celanese Corp. CE, -2.89% rose 2% in the extended session Thursday after the chemical and specialty materials company reported first-quarter results that topped Wall Street views. Celanese earned $323 million, or $2.82 a share, compared with $220 million a year ago. Adjusted for one-time items, the company earned $3.46 a share. Sales rose to $1.8 billion, from $1.5 billion a year ago, as pricing rose 15%, "more than offsetting" volume declining 3%, the company said. Analysts polled by FactSet expected adjusted earnings of $2.98 a share on sales of $1.7 billion.
The Dow Fell 321 Points Because Biden Pulled the Plug
Stocks dove Thursday on a report that President Joe Biden will propose a hefty increase in capital-gains taxes. The S&P 500 dropped 38.44 points, or 0.92%, to end at 4,134.98, and the Nasdaq Composite tumbled 131.81 points, or 0.94%, to close at 13,818.41. The biggest gainer in the S&P 500 was credit-reporting agency Equifax (ticker: EFX), which saw shares rose 14.94% after beating earnings estimates. Higher capital-gains taxes lower the after-tax return on stock sales, thereby making them a less-appealing investment. But with the S&P 500 up just under 10% year to date, the rally is in need of a pause, according to some observers.
Schwab Hikes TD Integration Cost Estimate After Surge of Investor Activity
Charles Schwab revised its guidance for integration plans for TD Ameritrade in light of unprecedented investor activity in the first quarter, which broke records and boosted assets, but also strained resources. The company now expects that the integration may run close to three years and cost up to $600 million more than originally anticipated. The acquisition may also generate more revenue to the firm than Schwab first expected, thanks to the recent surge in investor activity.
Biden has pledged to tax the rich — but precisely how will he do that? Experts consider his options
Biden could announce details on new taxes on the wealthy as soon as next week, observers said. See full story. Intel stock falls despite earnings beat, as data-center sales slump more than 20%Intel Corp. shares fell in the extended session Thursday despite a big earnings beat and raised annual guidance, as a large dip in data-center sales was papered over by strength in sales of personal computers and a departing memory business. See full story.
Swimming Pools Are Hot. And These Stocks Prove It.
Pool stock closed up 6.4% Thursday. Pentair had a strong quarter, too, but beat analyst estimates only by about 31%. He added that he suspects second-quarter guidance of about 72 cents in per-share earnings is conservative. Barron’s recently wrote positively about Pool, believing strong pool trends would continue into 2021 and beyond. Since that article, Pool stock is up about 13%, a couple of percentage points better than the S&P.
Seagate Stock Slips Despite Better-Than-Forecast Results
A Seagate FireCuda Gaming Hub Courtesy of SeagateSeagate Technology shares are trading lower even though the maker of hard-disk drives reported better-than-projected quarterly results. For its fiscal third quarter, ended March 31, the company posted revenue of $2.73 billion, up slightly from a year earlier, and ahead of the company’s estimate of $2.65 billion. Non-GAAP profits were $1.48 a share, ahead of guidance at $1.30 a share. Under generally accepted accounting principles, the company earned $1.39 a share.
Maker of Sam Adams beer heads toward record stock high as hard-seltzer sales boost earnings
Boston Beer Co. shares headed toward fresh record highs Thursday afternoon, following an earnings report that showed buzzy hard seltzers are lifting the company’s spirits. The company’s net revenue, which removes excise taxes, jumped to $545.1 million from $330.6 million a year ago. While known for its Sam Adams brands, as well as Dogfish Head and other beers, Boston Beer executives credited a newer drink category for its gains: hard seltzer. “The recently launched Truly Iced Tea Hard Seltzer has accelerated Truly brand growth, which has more than doubled since last year,” Chief Executive Dave Burwick said in Thursday’s release. One concern for the executives is producing enough hard seltzer to meet supply, and how that could affect their margins.
QUOTES 3-Biden to propose hike in capital gains taxes - sources
NEW YORK, April 22 (Reuters) - Stocks on Wall Street were thrown into reverse on Thursday on reports that U.S. President Joe Biden will propose hiking taxes on the wealthy, including capital gains taxes. First, the capital gains tax is a second tax on money that has been earned and put to work in capital assets such as a business, real estate or stocks to grow the US economy which helps all Americans. Second, experience has shown that a high capital gains tax rate incentivizes asset holders to hold on longer which leads to inefficiency. The campaign also called for taxing unrealized capital gains at death. People are going to want to sell in lower capital gains rates than they could see in the future.
UBS lowers price target on Nike amid China concerns
UBS (UBS) lowered its price target for Nike (NKE) from $183 to $175. In a recent note to investors, UBS says it believes the troubles for Nike across greater China will be short-term. “We held a conference call on 4/16 with two former Nike employees with deep experience sourcing goods in China and in brand communications. UBS believes that Nike sales will rebound during the month. “Nike sales last June were 160% higher than sales in May.
Here's where you can shop with Bitcoin and other crypto
Read more: Experts: Here's what you should consider if you want to get into Bitcoin nowSo where can you spend your cryptocurrency? Cheapair.com allows customers to book and pay for flights and hotels using Bitcoin. The Dallas Mavericks NBA team has been an early adopter of cryptocurrency payment and has accepted Bitcoin as payment for game tickets and merchandise through the team’s website for almost two years. Donations can be made to The Wikimedia Foundation, Inc., the charitable organization that hosts Wikipedia, using Bitcoin and Ether. Making a purchase using cryptocurrency does feel like the harbinger of the future, but it also can come with tax implications.
The housing boom, central banks and the inflation conundrum
Global residential property prices have risen 60% in the past 10 years, according to a Knight Frank index. Story continuesThat raises the question of what central banks can do. Including house prices in the inflation measures central banks use to guide policy is also widely seen as impractical, given their extreme volatility. Adding property prices to CPI indexes just as long-dormant inflation finally awakes could send readings soaring, heaping pressure on central banks to tighten policy even as economies nurse pandemic-time wounds. George Washington University professor Danny Leipziger argues housing markets are more effectively cooled by regulation and measures outside central banks' scope, such as raising capital gains taxes and increasing the supply of housing.
Boeing still working on 737 Max electrical system issue, FAA says
The Federal Aviation Administration issued a notice to international regulators and aircraft operators Thursday indicating that Boeing is still working on an electrical issue with some 737 Max airplanes. "The FAA is continuing to work with Boeing as it works to fully identify and address an electrical bonding and grounding issue" that is affecting more than 106 Max planes, the FAA said in a statement to FOX Business. Ticker Security Last Change Change % BA THE BOEING CO. 234.43 -1.57 -0.67%The FAA said it will ensure the issue is addressed and has been in contact with both the airlines and with Boeing. "We concur with the FAA notice and continue to work closely with the regulator and our customers to address the issue," a Boeing spokesperson told FOX Business in a statement. The notice comes days after U.S. Transportation Department's Office of Inspector General announced that it would audit the FAA's decision in November to unground the 737 Max.
Dow tumbles 321 points on Biden's capital gains tax hike plan
U.S. equity markets turned sharply lower Thursday afternoon following a report that the Biden administration is mulling increasing the capital gains tax. The Dow Jones Industrial Average fell over 321 points, or 0.94%, while the Nasdaq Composite and S&P 500 declined 0.92% and 0.94%, respectively. The increase would help fund Biden's American Families Plan, the details of which are still being ironed out. In economic data, initial jobless claims fell to a coronavirus-era low of 547,000, better than the 617,000 that analysts were expecting. Ticker Security Last Change Change % DHI D.R.
Biden's Tax Policy Sucker Punches Stocks
Thursday was shaping up quite nicely, as small-caps shrugged off some early weakness, and the S&P 500 was hitting an intraday high around mid-day, but news of a tax proposal by President Joe Biden hit the market like a sucker punch. The proposal nearly doubled the long-term capital gains taxes for some wealthy taxpayers, but the market is concerned that these taxes would trigger a rush to lock in gains before the higher rates went into effect. There are some substantial hurdles to passing a tax bill as proposed, but any move to increase taxes is deemed unfriendly to the market and business. The Russell 2000 exchange-traded fund (IWM) did manage some relative strength, and breadth wasn't nearly as bad as the inverse of yesterday. This rotation back into some of the small caps is a good sign, but it is too bad that the strong momentum was undercut with the tax policy news.
AAPL After Hours: Will Capital Gains Tax Derail Apple Stock?
Apple stock dipped yet again, this time on news that President Joe Biden could propose an increase to capital gains taxes. It has not been a calm few days for Apple stock. Below, the Apple Maven briefly debates the key reason for weakness in Apple this Thursday: a potential increase in the capital gains tax rate for households that earn more than $1 million per year. But none of what the Apple Maven anticipated could move Apple stock on April 22 mattered much compared to news on the tax front. Why it matters to Apple stockHigher capital gains taxes, if approved and implemented, would mean lower after-tax gains for investors across the broad.
Seagate Tops Estimates on Cloud Demand for Data Storage
Seagate reported non-GAAP earnings of $1.48 a share on revenue of $2.73 billion for the latest period. In the same period a year ago, the company posted earnings of $1.38 a share on sales of $2.7 billion. See January earnings report here. In the upcoming quarter analysts are currently forecasting earnings of $1.54 a share, on sales of $2.8 billion. Chip equipment maker Lam Research (LRCX) - Get Report reported record results Wednesday, as demand for chip-making equipment is seen to be soaring.
Mattel First-Quarter Results Beat Estimates, Led by Barbie
The toymaking titan reported a narrowed net loss on 47% higher revenue, with both figures stronger than Wall Street expected. The company said worldwide gross billings for its Barbie doll line rose nearly 90% to $276.2 million in the quarter. In the quarter Mattel also closed a $1.2 billion refinancing, reducing its interest costs by $40 million a year. He also has a buy rating on Hasbro. A week prior Stifel analyst Drew Crum had affirmed a hold rating on Mattel while lifting his price target to $22 from $19.50.
Natural gas leak prompts evacuations in Downey
A natural gas leak in Downey prompted a small evacuation Thursday after a gas main broke in a residential area, authorities said. Gonzales said it will take Southern California Gas a couple of hours to cap the leak, but people are urged to stay away from the area. As of 1 p.m., Los Angeles County’s large vaccination site in Downey was still open and unaffected by the leak. SoCalGas was responsible for the largest gas leak in U.S. history in 2015, at the Aliso Canyon storage field in the San Fernando Valley. More recently, the Los Angeles City Council unanimously passed a resolution urging state officials to shut down another SoCalGas storage field on the city’s Westside.
Opinion: The Supreme Court weakens a key consumer protector
Coming on the heels of the court’s decision weakening the federal law against nuisance robocalls, the ruling might lead you to believe that the current court is virulently anti-consumer. The court is identifying problems that lawmakers can easily fix — or, rather, that it could fix if it were functional. A federal District Court in Nevada sided with the FTC, ordering the company to pay the commission $1.27 billion to reimburse AMG’s borrowers. The 9th Circuit Court of Appeals upheld the ruling, teeing up the case for the Supreme Court. Specifically, the court held, if the FTC wants to seek monetary penalties, it can’t go directly to court to obtain them.
Biden’s USPS nominees face confirmation hearing as Democrats consider paths to oust DeJoy
Their ascent would give Democrats a 5-4 majority bloc and control of the board for the first time since 2016. AdvertisementMeanwhile, 50 House Democrats have called on Biden to fire the entire board and start over with a new slate of governors. Ron Stroman, a Democrat, is the recently retired deputy postmaster general and led the Biden transition’s Postal Service review team. Advertisement"The universal service obligation of the Postal Service requires delivering prompt, reliable, and efficient service to all Americans all over the country. "If the White House looks at Bloom, they’ll see labor is behind him and ask, what’s wrong with him?
US to withdraw Trump rule barring CA emissions mandates
By David Shepardson | ReutersWASHINGTON – The Biden administration said on Thursday it is moving to withdraw a Trump administration rule that sought to bar states from setting vehicle emissions rules or set zero emission vehicle mandates. The National Highway Traffic Safety Administration (NHTSA) said it was proposing to revoking the Trump rule issued in September 2019. If finalized, the Trump rule “would no longer be a potential barrier to states implementing tough greenhouse gas and zero emission vehicle regulations,” the agency said. About two dozen U.S. states filed suit to block a pair of Trump actions that sought to remove California from vehicle emissions regulations. The EPA in 2013 granted California a waiver for its tailpipe greenhouse gas emissions and zero emission vehicle regulations and in tandem with the NHTSA 2019 rule revoked it under Trump.
First residential lots to hit market at former Ford plant site start at $475,000
The first residential lots are set to go on sale Monday at the former Ford Motor Co. assembly plant site in St. Paul's Highland neighborhood. Twenty lots ranging from $475,000 to $1.15 million will be available for purchase starting next week at the site now known as the Highland Bridge development. Fourteen additional residential lots are also part of the parcel on the bluffs and will be put up for sale later, said officials from Coldwell Banker Realty's Crocus Hill office, the brokerage firm handling lot sales. Part of it is everybody's excited about Highland Bridge, and they are not sure what the options are going to be," said broker Jim Seabold. The residential lots are part of the much larger 122-acre redevelopment plan to convert the former Ranger truck-assembly plant site along the Mississippi River bluffs into a mix of residential, retail and commercial properties.
A Texas fund manager admits defrauding investors -- in a 1,361-word email to them
In a 1,361-word email dated April 9, he told investors their money is essentially gone, and that he is solely responsible for wrongdoings that include the doctoring of records and using investors’ capital to cover operational expenses. It started with a fund involving a single investor, after which four other funds were launched between 2017 and 2018. That led to overpaying for assets and making deals that were less than arms-length, leading to deteriorating fund performance. To hide the business troubles from investors, Bentley said he hid information from stakeholders and in 2020 tried to raise $100 million through his eighth and final fund. I had to lever or sell those and use that money to cover overhead as well,” Bentley wrote to investors in the April 9 email.
'Help is on the way': Wisconsin will issue $420 million in relief funds to small businesses, Gov. Evers says
Tony Evers announced Thursday he will pour $420 million into small businesses through the Wisconsin Tomorrow Small Business Recovery Grant program. According to a news release, the funds provided by the American Rescue Plan Act can potentially benefit 84,000 small businesses that generate between $10,000 and $7 million in annual revenue. “While we’re still waiting on federal guidance, we want small businesses to know that help is on the way,” Evers said during the announcement. The plan will see $2.5 billion invested into the state’s economic recovery and well-being; and $600 million to support small businesses using up to $420 million in grants. One of those bills suggested spending $200 million to support Wisconsin’s small businesses.
Henderson man sentenced to prison in $9M mortgage fraud scheme
A Henderson man was sentenced Thursday by a New Jersey judge to 18 months in prison for his role in a $9 million mortgage fraud scheme. (Getty Images)A Henderson man was sentenced Thursday by a New Jersey judge to 18 months in prison for his role in a $9 million mortgage fraud scheme. Flores and Gonzalez used a property in Jersey City, New Jersey, as part of the scheme. Almost all of the money was disbursed to Gonzalez, Flores, and others, records show. In addition to imposing the prison term, Vazquez sentenced Gonzalez to three years of supervised release and ordered him to pay restitution of $512,500.
Casinos hiring for hundreds of jobs to keep up with growing demand
As tourism rates ramp up across the Las Vegas Valley, some casino companies are rushing to fill hundreds of jobs to keep up. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfayeJob seekers line up to apply for jobs at Virgin Hotels Las Vegas, on Thursday, April 22, 2021, in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfayeJob seekers, including Donovan Garcia, second right, line up to apply for jobs at Virgin Hotels Las Vegas, on Thursday, April 22, 2021, in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfayeJob seekers, including Katelyn Laurente line up to apply for jobs as Virgin Hotels Las Vegas, on Thursday, April 22, 2021, in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfayeJob seekers, including Katelyn Laurente applies for cocktail waitress position as Virgin Hotels Las Vegas, on Thursday, April 22, 2021, in Las Vegas.
Answers to your vaccine questions: Do I need a negative COVID test to re-enter the U.S.?
Many people have been having problems with the little white cards that prove they got their shots. Some have lost them, while others say their names are spelled wrong or there’s other incorrect information on the document. Publix says the company is working on a phone app that will allow vaccine recipients to verify their information and show it to whoever needs to see it.
$10.2 billion federal windfall has Florida lawmakers a bit flummoxed
Roads, environmental clean-up projects and school construction projects could get more cash from the federal COVID-19 relief funds. All of those ideas have been floated by House or Senate budget negotiators trying to come to the final agreement on a spending plan that is likely to top $100 billion for the first time in state history.
Semiconductor shortage extends shutdown of Chicago Ford plant through mid-May
Jeep’s Belvidere assembly plant was one of five Stellantis facilities in North America shut down due to the chip shortage on March 29. The plant, which normally has about 3,600 employees working two shifts making the Jeep Cherokee SUV, will remain closed through the end of April, but there is no extension of the shutdown at this time, Stellantis spokeswoman Jodi Tinson said.
The rumors are true: Guthrie’s Tavern is reopening after sale to owner of Roscoe Village bar
But on July 20, hours after the city shut down indoor seating for bars that did not sell food as part of the effort to stem the spread of COVID-19, former Guthrie’s owner Steve Leith announced on Facebook that he would shutter the bar permanently. After a forced closure due to the pandemic in spring, Leith said in an interview last summer, he planned to close the bar and retire if another closure came. He kept his word.
United Way of Long Island looks to lower its carbon footprint
United Way of Long Island is embarking on an energy transformation of its Deer Park headquarters, adding solar, storage batteries and heat pumps while cutting usage to no more than it produces. United Way expects the 31,000-square-foot building, with 576 solar arrays, to produce 230 kilowatts of electricity, one of the largest solar arrays of any not-for-profit commercial building, officials said. David Calone, a member of the United Way's executive board, said the savings in energy will help fund more services for the thousands of families United Way serves on Long Island each year. Wallace and Eannace of Long Island will donate three air-source heat pumps, highly efficient heating and cooling systems, said corporate vice president Darryl Clark. Theresa Regnante, president and chief executive of United Way, said the program will also be used to educate and train young Long Islanders on installation and use of green and efficient energy products.
Intel forecasts slower sales amid production squeeze
Intel said Thursday it expects sales will drop during the current quarter, warning tight supply of production materials will affect its ability to address a global shortage of computer chips. Intel’s first-quarter sales totaled $19.7 billion, above forecasts from the beginning of the year. During the current quarter, though, Intel said it expects sales will drop to $18.9 billion, with profits of $1.05 a share. Intel gave investors a preview last month when the company outlined a new corporate strategy focused on reviving its manufacturing capabilities. Gelsinger took the helm of a company reeling from a succession of manufacturing failures that cost Intel is technology leadership in the chip industry.
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Portland leaders kickstart new citywide cleanup effort with $750K
The Portland City Council on Wednesday agreed to spend $750,000 to help kickstart a new initiative aimed at picking up litter, garbage and debris citywide. Mayor Ted Wheeler launched the so-called Clean and Green project last month in response to Portland’s trash problem, which has spiraled out of control in the last year. The council unanimously agreed to provide the hefty dose of one-time funding to accelerate its work in May through June. The cleanup effort plans to dispatch an army of volunteers across the city with the help of nonprofits, community groups and neighborhood associations. “The people of Portland are clear,” Wheeler said in a statement.
Countering Biden, a group of Senate Republicans pitch $568 billion for infrastructure
Yet the unveiling of the GOP proposal also made clear the parties are leagues apart on the size and scope of what’s needed. Biden is spending time listening to Republicans and voicing a willingness to consider their ideas, but Democrats are intent on passing a major infrastructure boost this year with or without GOP support. They have made clear they are willing to use the budget reconciliation process to bypass Republicans altogether, just as they did on COVID relief earlier this year.
Issue 3: Who is funding the campaigns for, against Cincinnati’s affordable housing amendment
In the battle over Issue 3 and affordable housing in Cincinnati, one side has a lot more money than the other – but neither side cracked $100,000 in donations. By contrast, Cincinnati Action for Housing Now, the PAC in favor of the amendment, had raised $38,700. Issue 3:Everything you need to know about Cincinnati’s affordable housing amendmentYea or nay:Who is for, against Cincinnati’s affordable housing charter amendment? Issue 3 is the highly controversial charter amendment that would require Cincinnati to devote at least $50 million a year to affordable housing, with the amount rising each year with inflation. On the pro-Issue 3 side, the largest chunk of money – $10,000 – came from Community Change, a Washington, D.C.-based nonprofit that pushes for affordable housing trust funds across the country.
Whitmer wants state-owned office buildings on 100% renewable energy by 2025
The state of Michigan plans to transition all of its state-owned office buildings to 100% renewable energy by 2025, Gov. Currently, state-owned office buildings use about 15% renewable energy. "The energy purchased by the state will expand renewable energy and create more clean energy jobs right here in Michigan," Whitmer said Thursday, touting the state's partnerships with Consumers Energy, DTE Energy and the Lansing Board of Water and Light. By shifting to 100% renewable, the state sends a signal to energy companies that Michigan will invest in renewable energy and willing companies should shift their production to accommodate that demand, said Liesl Clark, director for the Department of Environment, Great Lakes and Energy. While pursuing a 100% renewable energy goal in 2025, the state also is eyeing what changes will be made in terms of on-site work after thousands of state workers worked from home during the pandemic, Clark said.
World leaders pledge climate cooperation despite other rifts
But the summit also marshaled an impressive display of the world's most powerful leaders speaking on the single issue of climate change. China's Xi, whose country is the world's biggest emissions culprit, followed by the United States, spoke first among the other global figures. “To protect the environment is to protect productivity, and to boost the environment is to boost productivity. But he made no mention of those disputes in his own climate remarks. “Russia is genuinely interested in galvanizing international cooperation so as to look further for effective solutions to climate change as well as to all other vital challenges," Putin said.
Bill seeks to end labeling of plant-based products as 'milk'
MONTPELIER, Vt. (AP) — Four members of Congress from dairy producing states again introduced legislation Thursday to prevent the labeling of products from nuts, seeds and plants as milk, saying it's misleading to consumers. The bipartisan bill, which has 33 co-sponsors in the U.S. House, calls on the Food and Drug Administration to enforce its regulations that define milk and cream and stop the labeling of plant-based products as milk, yogurt or cheese. He said he's been sounding the alarm for years to the FDA for accurate labeling in the dairy industry. “Dairy farmers, already struggling to survive, are facing a growing threat due to the misleading practice of marketing plant-based products as milk and dairy products,” said Vermont U.S. Rep. Peter Welch, a Democrat. Idaho Sen. Jim Risch, a Republican, and Wisconsin Sen. Tammy Baldwin, a Democrat, reintroduced the legislation along with Welch and Simpson.
Stocks end lower after report on Biden's tax proposal
The S&P 500 lost 38.44 points to 4,134.98. The Dow Jones Industrial Average fell 321.41 points, or 0.9%, to 33,815.90. The Nasdaq slid 131.81 points, or 0.9%, to 13,818.41. The S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday. Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, retail sales and other economic data.
Highlights of Indiana's new state budget
INDIANAPOLIS (AP) — The Indiana General Assembly gave final approval Thursday to a new two-year $37 billion state budget that is bolstered by $3 billion in federal coronavirus relief funding. A look at some highlights of the legislation:SCHOOL FUNDINGThe plan increases base K-12 school funding by of 4.6% in the budget’s first year and 4.3% in the second, adding about $1 billion to total two-year funding of $16 billion. Legislative leaders said the budget plan will cover the $600 million a year in additional money the governor’s teacher compensation commission found was needed to significantly boost Indiana’s lagging teacher pay in comparison to nearby states. The bill directs school districts to submit explanations to the state if they aren’t able to set a minimum teacher pay of $40,000 a year. The state is also directing $150 million toward grants for schools to help students make up learning loss caused by COVID-19 closures.
US airline bailout helps Southwest post $116 million profit
.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........DALLAS — Southwest Airlines is the first major U.S. airline to report a profit since the pandemic started, as federal payroll aid helped boost the company to net income of $116 million in the first quarter. Without the federal money, Southwest would have lost $1 billion in the quarter. The airline said Thursday that bookings for leisure trips within the United States have been improving each week since mid-February. Without Southwest’s share of that aid and other temporary items, Southwest would have lost $1.72 per share. Southwest posted revenue of $2.05 billion, slightly above the analysts’ prediction of $2.03 billion.
American Airlines posts $1.25 billion loss, delays new jets
.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........FORT WORTH, Texas — American Airlines said Thursday that it lost $1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic. American said it burned through $27 million in cash each day in the quarter, down from $30 million a day in the fourth quarter of 2020. American expects to take 14 Max jets over the next 12 months. A year ago, when the pandemic was just starting to hit the U.S., American lost $2.24 billion. Revenue was $4.01 billion, just shy of the $4.04 billion forecast by analysts and down 53% from $8.52 billion a year ago.
Supreme Court cuts back FTC power to seek ill-gotten gains
Justice Stephen Breyer wrote in his opinion for the court that the provision of federal law that the FTC has relied on does not authorize the commission to seek or a federal court to order restitution or disgorgement of profits. But Breyer noted that other parts of the Federal Trade Commission Act could be used to obtain restitution for consumers who have been cheated. Indeed, the Commission has recently asked Congress for that very authority.”The acting FTC chairwoman, Rebecca Kelly Slaughter, issued a scathing statement in response to the decision. Slaughter said the court “ruled in favor of scam artists and dishonest corporations, leaving average Americans to pay for illegal behavior. In a separate criminal case, Tucker was sentenced in 2018 to more than 16 years in prison on fraud and other charges.
Netflix funds accounting program through CNM, NM Film Office
A new program in collaboration with the New Mexico Film Office, will give New Mexicans with a background in accounting an opportunity to get into production accounting. The Production Accounting and Payroll Training Program is a five-week virtual training program, where participants will learn the ins and outs of production accounting. This Production Accounting and Payroll Training Program will do just that,” said Alicia J. Keyes, New Mexico Economic Development Department Cabinet Secretary. “At CNM, we’re honored to be partnering with the New Mexico Film Office to address a growing workforce need in the film industry – accountants trained on the unique aspects of film production and film budgets,” said CNM President Tracy Hartzler. Amber Dodson, New Mexico Film Office director, said the idea grew out of the demand for production accounting within the film industry.
Biden eyes capital gains hike to 43.4%; for NY could be 52.2%, Calif. could be 56.7%
President Biden will propose doubling the top capital gains tax rate on investments like stocks and real estate, according to a new report that sent stocks reeling Thursday. Bloomberg News reported that the new top capital gains rate would increase from 20 percent to 39.6 percent on income over $1 million. For $1 million earners in high-tax states, rates on capital gains could wind up higher than 50 percent. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22 percent. The new capital gains taxes could rise as high as 52.22 percent for some New York residents.
Jake Paul Promised Them Fame. Was It Worth the Price?
At the time, it sounded like a good deal; Mr. Paul would help them become stars in their own right. Mr. Mitchell was given a room to share with Alissa Violet, who was 19 at the time and publicly dating Mr. Paul. Meanwhile, in BusinesslandIn the business and entertainment worlds, the name Jake Paul continues to have cachet. (After the fight, Mr. Paul wrote in an Instagram post that the fight had drawn 1.5 million pay-per-view customers.) The post Jake Paul Promised Them Fame.
Trump administration ‘delayed’ $20billion of aid to Puerto Rico after Hurricane Maria in 2017, new report claims
The Trump administration delayed $20billion of vital aid to the US territory of Puetro Rico following the devastating hurricane in 2017, a new report has claimed. The investigation also found that further delays occurred due to the 2018-2019 government shutdown. Residents evacuate after the passing of Hurricane Maria, in Toa Baja, Puerto Rico, Friday, September 22, 2017. Following the devastating storm, Congress assigned around $67 billion in aid to the island, but only about $17.8 billion, or less than a third of the amount, has been disbursed. The U.S. will NOT bail out long outstanding & unpaid obligations with hurricane relief money!”At the time Puerto Rico had estimated it would need $94 billion to rebuild, with many people still living in make-shift housing.
Tesla to be probed by Senate over fatal ‘autopilot’ crash
Two Senate Democrats have called for a full federal investigation into a crash that killed two men in a Tesla that had no one in the driver’s seat. Moreover, standard Autopilot would require lane lines to turn on, which this street did not have,” Tesla CEO Elon Musk tweeted on Monday. A special crash team from the NHTSA is investigating the crash, along with investigators from the National Transportation Safety Board. Following the accident, Consumer Reports has said that in tests it “easily” got a 2020 Tesla Model Y to drive “even with no one in the driver’s seat”. Tesla cars have sensors in the steering wheel to make sure that the driver is engaged even after it is switched on.
US jobless claims fall to 547,000, another pandemic low
The number of Americans filing new claims for unemployment benefits has dropped to a one year low, a promising sign that layoffs are slowing as the job market strengthens. The Labor Department said on Thursday that unemployment aid applications dropped to 547,000 last week, which is a drop of 39,000 compared to the week prior. Weekly jobless claims are down sharply from a peak of 900,000 in early January. The Labor Department said on Thursday that unemployment aid applications dropped to 547,000 last week, which is a drop of 39,000 compared to the week priorMost of the increase occurred in two states, California and Texas. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
Covid US: CEOs' 2020 pay DOUBLED as they laid off thousands of employees
Kelly’s base salary and base pay fell in 2020 - from $750,000 the prior year to $562,500. American Airlines also reported a massive loss in 2020 - $8.9billion worth after earning $1.7billion in 2019. American Airlines also reported a massive loss in 2020 - $8.9billion worth after earning $1.7billion in 2019. The company reported a $720million loss in 2020, including a $225million loss in the fourth quarter. While Johnson saw his pay increase, the company furloughed almost all of its workers without pay beginning in late April 2020.
Republicans release their $568billion counter to Biden's infrastructure plan
Senate Republicans revealed their counter offer to President Joe Biden's infrastructure package on Thursday, presenting a $568 billion plan that focuses on roads, transit systems, and broadband internet. The GOP's two-page proposal has smaller price tag and a narrower definition of infrastructure than Biden's $2.3 trillion plan. 'This is the largest infrastructure investment that Republicans have come forward with,' Republican Senator Shelley Moore Capito of West Virginia, who has taken the lead on the proposal, said. Senate Republicans revealed their counter offer to President Joe Biden's infrastructure packageBiden has proposed raising the corporate income tax from 21% to 28% to help pay for his plan. The president is expected to roll out that second package next week when he addresses a joint session of Congress.
Sean Hannity Drops $5 Million on Mansion Near Mar-a-Lago
Fox News host and right-wing hanger-on Sean Hannity shelled out $5.3 million for a beachfront house on the south end of Palm Beach—less than three miles from Mar-a-Lago, property records show. The buy makes Hannity the latest in a long line of conservative media figures to set up shop in the wealthy south Florida town, sometimes called Billionaire’s Row. Roger Ailes died at an Ocean Lane mansion in 2017, after moving to town following his Fox settlement the year prior. Recycled-clothes manufacturer Camilo Raful and jeweler Patricia Robalino first snagged the place on March 19 for $4.2 million, a 20 percent discount on what Hannity paid. The couple still owns a neighboring house, according to the Post.
Biden: This is the decisive decade on climate
Biden: This is the decisive decade on climateU.S. President Joe Biden opened a global climate summit Thursday by saying the world must make the decisions this decade to avoid the worst consequences of the climate crisis. Biden pledged to cut U.S. fossil fuel emissions up to 52% by 2030.
When will more 'plus-up' payments arrive? Nearly 700,000 catch-up checks this week went to people who qualify for more stimulus money
Some people who already received the third stimulus payment were shocked to receive extra money in recent days. Nearly 700,000 supplemental payments this week went to people who earlier this year received a stimulus payment based on their 2019 tax returns. The latest batch of payments involves nearly 2 million payments, valued at nearly $3.4 billion. The IRS noted that the sixth batch of payments contains about 900,000 direct deposit payments and nearly 1.1 million paper check payments. And some could continue to be surprised by extra stimulus money that just shows up.
Bette Midler scores buyer for $50 million Manhattan penthouse
Evan Joseph ImagesThe sun-drenched kitchen is outfitted with stainless-steel appliances, including an enormous stove hood, along with custom cabinets and marble countertops. Evan Joseph ImagesThe curved stairway with brass balusters connects the three levels of Bette Midler’s longtime Fifth Avenue penthouse. Evan Joseph ImagesA living room, which opens to a terrace, is anchored by a wood-burning fireplace surrounded by ceramic tiles. Evan Joseph ImagesOne of the more colorful rooms in the penthouse, which was largely decorated in soft, neutral colors. Evan Joseph ImagesA dumbwaiter can be seen in this bathroom, which is one of seven.
Institutional Investor’s top editors jump to London-based rival
Institutional Investor, the flagship publication of publicly traded Euromoney Institutional Investor PLC, has lost its top two editors to another London-based rival looking to expand its US offerings. Kip McDaniel, the editor-in-chief and chief content officer of Institutional Investor for the past four years, turned in his resignation on Monday, sources tell Media Ink. It’s the latest major upheaval within the top ranks of Institutional Investor, a popular read among asset managers known for its annual list of richest hedgies. The duo won’t start their new gigs, however, until sometime in June, sources tell Media Ink. Institutional Investor, which also publishes the closely watched list of top Wall Street analysts, also had a once-thriving events business that was forced to go digital last year due to the pandemic.
Stephanie Link on the streaming services Netflix vs. HBO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStephanie Link on the streaming services Netflix vs. HBOStephanie Link, Hightower chief investment strategist and portfolio manager, joins 'Closing Bell' to discuss the streaming wars between Netflix and HBO.
Why some workers are switching careers right now
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy some workers are switching careers right nowCNBC's "Power Lunch" team discusses job market trends, including why some are making career switches, with Karin Kimbrough, chief economist at LinkedIn.
Watch these FAANG stocks into earnings next week, traders say
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch these FAANG stocks into earnings next week, traders sayJC O'Hara of MKM Partners and Michael Bapis of Vios Advisors at Rockefeller Capital Management pick their FAANG favorites after a positive analyst call on Amazon. With CNBC's Seema Mody.
Happy Earth Day: Traders share top environmentally-friendly investments
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHappy Earth Day: Traders share top environmentally-friendly investmentsIt's Earth Day, and we asked our traders for their top environmental investments. JC O'Hara of MKM Partners and Michael Bapis of Vios Advisors at Rockefeller Capital share their picks.
BofA's Subramanian on impact of increasing capital gains tax
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Subramanian on impact of increasing capital gains taxSavita Subramanian, Bank of America Securities head of U.S. equity, joins 'Closing Bell' to discuss the short-term impact of increasing the capital gains taxes on the markets.
Japan's plan to release radioactive water from Fukushima nuclear plant sparks outrage
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's plan to release radioactive water from Fukushima nuclear plant sparks outrageJapan's plan to release radioactive water from Fukushima nuclear plant sparked outrage from neighboring countries, including South Korea and China.
Capital gains tax from Biden administration not shocking, says expert
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapital gains tax from Biden administration not shocking, says expertCNBC's "Closing Bell" team discusses a potential capital gains tax from the Biden administration with Ed Mills of Raymond James and Jimmy Pethokoukis of the American Enterprise Institute.
These stocks are Wall Street analysts’ favorites – and they’re on discount as the market falls
Stocks are plunging on fears of President Joe Biden's proposal to hike income taxes. That also means some of Wall Street's favorite stocks are available at bargain prices. The 3.8% net investment income tax would continue to apply, making the overall tax hit on capital gains as high as 43.4% for wealthy Americans, Bloomberg found. The Democrats hold only a narrow majority in Congress, which could make it hard for the plan to become law. For investors wanting to take advantage of the dip in stocks, CNBC PRO screened for some of the most-loved stocks on Wall Street.
BofA's Subramanian: Bitcoin isn't necessarily good for the environment
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Subramanian: Bitcoin isn't necessarily good for the environmentSavita Subramanian, Bank of America Securities head of U.S. equity, joins 'Closing Bell' to discuss the environmental impact of bitcoin. She says mining for bitcoin is equal to 1.2 million cars being driven over the course of a year and talks about the environmental impacts of Big Tech.
New York City hasn't had this much empty office space in three decades
(CNN) Vacant office space in New York City is the highest in nearly three decades and will likely hit "unprecedented levels" in the coming months. The report -- assessing office space in Manhattan -- noted that office space leased since last year has also declined. Cushman & Wakefield expects vacancies to continue to increase to "unprecedented levels in the coming months." In fact, Manhattan's overall asking price for rents has declined for the past two consecutive quarters, falling to the lowest price per square foot in three years. But some analysts think that lower rents are not just due to demand, and that costs depend on the situation.
Stocks sink on worries over higher taxes
New York (CNN Business) US stocks are tumbling Thursday over investors' worries about higher taxes. It's not surprising that Wall Street doesn't like higher taxes , particularly when it comes to capital gains -- the levy investors pay on realized profits after selling a stock, for example. It has proposed to hike capital gains taxes for those earning more than $1 million annually to 39.6%. Coupled with additional levy on high income earnings to fund the Affordable Care Act, the top rate would be even higher. But some Thursday reports, including from Bloomberg, where many traders get their news, put the capital gains worries front and center for investors again.
Are coffee naps the answer to your afternoon slump?
Perhaps there’s a way to get the best of both worlds in the form of coffee naps. Can coffee naps actually energize you? “Coffee naps may be beneficial for the right person,” said Kirkpatrick. “Listen to your body before making that decision.”New York City-based stand-up comedian Jake Timothy explained that coffee naps keep him going during those late-night sets. “The idea of having coffee (and) then taking a quick nap may hold weight, but you are also racing against the clock,” said Glassman.
U.S. moves to withdraw Trump rule barring California vehicle emissions regulations
REUTERS/Mike Blake/File PhotoThe Biden administration said on Thursday it is moving to withdraw a Trump administration rule that sought to bar states from setting vehicle emissions rules or set zero emission vehicle mandates. The National Highway Traffic Safety Administration (NHTSA) said it was proposing to revoking the Trump rule issued in September 2019. If finalized, the Trump rule "would no longer be a potential barrier to states implementing tough greenhouse gas and zero emission vehicle regulations," the agency said. About two dozen U.S. states filed suit to block a pair of Trump actions that sought to remove California from vehicle emissions regulations. The EPA in 2013 granted California a waiver for its tailpipe greenhouse gas emissions and zero emission vehicle regulations and in tandem with the NHTSA 2019 rule revoked it under Trump.
'Outrageous': Bank regulator lobbies for Trump-era rule, angering Democrats
Senate Democrats led by Banking Committee Chair Sherrod Brown of Ohio and Sen. Chris Van Hollen of Maryland have been trying to rally support for a vote on legislation that would nullify the rule. "It’s outrageous for the current Acting Comptroller to advocate on behalf of this harmful rule," Brown spokesperson Alysa James said. The rule addresses a situation in which a third-party company facilitates the issuance of a loan in partnership with a bank. It has been unclear whether Democrats have the votes to undo the rule. "This rule guts the states’ ability to hold these unscrupulous lenders accountable," Van Hollen spokesperson Francesca Amodeo said.
UW chancellors hesitant on student debt forgiveness
MADISON, Wis. (AP) — The leaders of the University of Wisconsin System’s two largest schools aren’t embracing President Joe Biden’s plans to forgive student debt. Mone said he would welcome student debt forgiveness because the price of higher education places an immense burden on students and their families. Biden has said he supports up to $10,000 in student loan forgiveness per borrower. Democrats have been pushing him to forgive $50,000 in debt for federal loan recipients. Biden announced in January that federal student loan payments would remain suspended and interest rates would be set at 0% through at least September, extending an action from former President Donald Trump.
Canadian National defends its $33.7B bid for US railroad
FILE - In this Nov. 5, 2004 file photo, the logo of Kansas City Southern is down on a restored 1954 Kansas City Southern passenger locomotive at Union Station in Kansas City, Mo. A bidding war is breaking out for Kansas City Southern, with Canadian National Railway making a $33.7 billion cash-and-stock offer for the railway. (Norman Ng/The Kansas City Star via AP)FILE - In this Nov. 5, 2004 file photo, the logo of Kansas City Southern is down on a restored 1954 Kansas City Southern passenger locomotive at Union Station in Kansas City, Mo. (AP) — Canadian National is defending its $33.7 billion bid to buy Kansas City Southern railroad against attacks from rival bidder Canadian Pacific. Canadian Pacific’s network connects to Kansas City Southern in Kansas City, Missouri, but those two railroads don’t overlap elsewhere.
New Mexico sues oil company for cleanup of abandoned wells
The lawsuit against BC&D Operating and Dominion Production Company is the sixteenth in a campaign by the agency to increase accountability for cleanups among natural resources companies that lease state land. Efforts to reach BC&D Operating and Dominion Production Company for comment were unsuccessful. ADVERTISEMENT“A lot of companies are proving willing to work with the State Land Office to clean up abandoned well sites,” the statement said. In the 1990s, BC&D Operating acquired leases that date back as early as 1922. The State Land Office collects as much as $1 billion annually in revenue from a variety of business activities on state trust land to benefit public schools, hospitals and other institutions.
Legalization bids boost outlook for US cannabis industry
The move comes as more states legalize cannabis sales, most recently New Mexico and Virginia. The move comes as more states legalize cannabis sales, most recently New Mexico and Virginia. The industry is eager for changes to federal laws that limit cannabis companies’ access to banking and other services. Progress at the federal level would also help drive cannabis stocks higher, said Greg Bassuk, CEO of AXS Investments. The ETF, which focuses on cannabis stocks, is still up about 80% from 12 months ago.
Dow Jones Loses 350 Points As Biden Seeks Big Capital Gains Tax Hike; These Stocks Score Breakouts
The Dow Jones Industrial Average sold off in today's market as the major indexes traded near session lows. The S&P 500 also traded around 0.8% lower, while the Dow Jones posted a loss of roughly 0.9%. Infrastructure play Atkore rose above a flat base and its 75.70 buy point, according to MarketSmith analysis. Finally, swimming pool equipment supplier Pool (POOL) remains inside a buy zone after gapping up and passing a cup-base buy point of 401.39. Dow Jones TodayAs for the Dow Jones industrials, a handful of blue chips held losses of more than 1%, including Dow (DOW), Walgreens (WBA) and JP Morgan (JPM), leading the downside.
Bullish Option Trade Idea For QQQ Exposure
Tech stocks bounced back strongly yesterday with the Nasdaq QQQ Trust ETF (QQQ) jumping 0.9%. XAs a market exposure play, ProShares Ultra QQQ (QLD) joined SwingTrader on the reversal near the 21-day moving average line. The Nasdaq QQQ Trust tracks the Nasdaq 100 and the Ultra QQQ uses leverage to double the effect. Bullish Calendar Spread Option TradeA calendar spread is a trade that involves selling a short-term option and buying a longer-term option with the same strike price. Apple (AAPL) and Square (SQ) are two other strong stocks that may be considered for this type of bullish option strategy.
REITs are one of the least ‘crowded’ spots for investors, but some REITS are more crowded bets than others, Citi says
The REIT sector remains one of the least “crowded,” ranking 18th out of 24 industries examined, Citi analysts said in a research note dated April 21. As for the least crowded REITs, Paramount Group Inc. PGRE, -3.35% , which focuses on central business districts in New York, San Francisco and Washington, topped Citi’s list. Urban office REIT Empire State Realty Trust Inc. ESRT, -4.59% and diversified REIT Alexander’s Inc. ALX, -1.71% (ALX) are also among the least crowded, the report shows. Here’s what the experts sayCiti measured REIT crowding based on percentile ranks, which considered relative valuations, short interest, sell-side ratings, the “growth” quant factor, and macro exposure. “Given the change, REITs were significantly impacted and sit as the seventh least crowded industry group,” the analysts said.
Square announces new inventory features for its sellers
Square Inc. SQ, -0.05% announced Thursday that it plans to make new inventory-management features available to its sellers. The company is rolling out tools that help sellers automate their inventory-management processes by using barcode scanners to take stock of inventory and receiving alerts driven by machine learning to see when an item is due to run out. The company will also let sellers build out their catalogs by scanning item barcodes and seeing item information automatically populate. "We're looking forward to providing sellers with access to the tools they need to prepare for reopenings and the year ahead," said Roshan Jhunja, Square's general manager for retail, in a release. They've gained 10.0% over the past three months as the S&P 500 SPX, -0.92% has risen 7.7%.
‘Massive helicopter drop of money’ from Fed and Washington raises inflation risk, says manager of $88 billion bond fund
“We had this massive helicopter drop of money without creating more productivity capacity on the other side of it. The non-partisan Congressional Budget Office projects a federal budget deficit of $2.3 trillion in 2021. “This is a massive experiment, so to speak, that you can in effect insulate the economy from basic fundamental change,” said Rivelle. Like former U.S. Treasury Secretary Larry Summers, Rivelle fretted efforts by fiscal and monetary authorities to boost demand, if continued, could see their comeuppance with higher inflation. But he noted that the path towards higher prices was a drawn-out process.
FDA approves GSK's endometrial cancer therapy
U.S.-listed shares of GlaxoSmithKline GSK, -1.49% were down 1.4% in trading on Thursday after the Food and Drug Administration said it had granted accelerated approval to the company's endometrial cancer treatment. The immunotherapy, which was called dostarlimab and is now named Jemperli, is approved to treat patients with severe forms of this kind of cancer who have a genetic feature known as dMMR. About one-quarter of patients with this kind of cancer have dMMR tumors, the FDA said in a statement. A clinical trial with 71 participants found that Jemperli got rid of or reduced dMMR tumors in 42% of the patients. GSK's stock has gained 2.4% so far this year, while the S&P 500 SPX, -0.92% is up 10.2%.
Robinhood, 3 friends and the fortune that got away
Chris Garcia set up a second monitor at his desk in mid-January to display his Robinhood Markets Inc. brokerage account. He turned to it often, watching his balance grow to $23,400, more than four times his initial investment. Mr. Garcia, a 32-year-old school photographer, made more money in a few days from the market than a month’s work at his day job.
Dow down 267 points on losses in shares of Dow Inc., Walgreens Boots
Shares of Dow Inc. and Walgreens Boots are trading lower Thursday afternoon, sending the Dow Jones Industrial Average into negative territory. Shares of Dow Inc. DOW, -5.95% and Walgreens Boots WBA, -2.72% are contributing to the blue-chip gauge's intraday decline, as the Dow DJIA, -0.94% was most recently trading 267 points (0.8%) lower. Dow Inc.'s shares are off $3.84 (5.9%) while those of Walgreens Boots are off $1.27, or 2.4%, combining for a roughly 34-point drag on the Dow. Other components contributing significantly to the decline include JPMorgan Chase JPM, -2.06% , Intel INTC, -1.77% , and Amgen Inc. AMGN, -1.44% . Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.
Biden to propose nearly doubling capital gains tax for wealthy: report
President Joe Biden will propose nearly doubling the capital gains tax rate for wealthy Americans to 39.6%, Bloomberg News reported Thursday. Combined with an existing surtax on investment income, Bloomberg said, that means federal tax rates for investors could be as high as 43.4%. Bloomberg cited people familiar with the proposal, and said the plan would boost the capital gains rate to 39.6% for those earning $1 million or more. The president is expected to release the proposal next week as part of the tax increases to fund social spending in the forthcoming "American Families Plan," Bloomberg said. U.S. stocks DJIA, -0.94% SPX, -0.92% COMP, -0.94% turned lower on the news.
U.S. Home Prices Hit All-Time High in March—Surging 17.2% Annually
The median sales price for existing homes was $329,100 in March, the highest on record and a 17.2% jump compared to the same time last year, the data showed. At the same time, existing-home sales slipped 3.7% last month compared to February, the report found. The median price was up 15.6% year over year to $283,900. The median price there was $248,200, a 13.5% jump from March 2020. The median price has spiked 21.4% from March 2020 to $364,800.
5 Ways I Help Clients Find Yield Safely
Perhaps the comment I get most frequently from clients is how low yields are. Even with the uptick in rates over the last quarter, the five-year Treasury note is yielding a paltry 0.81% as of Wednesday, and cash in brokerage money-market accounts such as the Vanguard Federal Money Market Fund (VMFXX) are yielding 0.01%, which I round to zero. Even taking substantial interest rate risk and buying a high-quality bond fund like the iShares Core U.S. Aggregate Bond ETF (AGG) gets investors just a 1.37% 30-day SEC yield. The temptation...
U.S. Treasury yields tick lower as ECB’s Lagarde downplays taper prospects
U.S. Treasury yields fell slightly on Thursday after officials at the European Central Bank said it had yet to discuss tapering its asset purchases. The 10-year Treasury note yield BX:TMUBMUSD10Y was down 1.2 basis points to 1.554%, while the 30-year bond yield BX:TMUBMUSD30Y fell 2.4 basis points to 2.240%, its lowest in a week. The European Central Bank, as expected, left interest rates unchanged and made no changes to its bond-buying efforts on Thursday. Attractive yields, even hedged out for foreign currency fluctuations, have helped lure income-starved foreign buyers to U.S. debt markets. Existing home sales for March fell to an annualized pace of 6.01 million, down 4.3% from the previous month.
Banks Are Drowning in Cash. Why That’s a Problem.
Mark Wilson/Getty ImagesWhile the average person would love to be sitting on a hefty deposit balance, the banks themselves may feel a little differently. Deposits make up one of the sector’s cheapest sources of funding. Unfortunately, relatively few companies are looking for loans these days, meaning that the banks are sitting on a pile of excess cash with nowhere to go—except to drag down returns, Ed Yardeni, chief investment strategist of Yardeni Research, wrote Thursday. Deposits at commercial banks are up 17.5% year-over-year, standing at $16.8 trillion, he found. Cash holdings have more than doubled since the beginning of 2020, Yardeni wrote, up to $3.8 trillion compared with $1.7 trillion.
Apple downplays complaints about App Store scams in antitrust hearing
Apple was questioned on its inability to rein in subscription scammers on its App Store during yesterday's Senate antitrust hearing. The tech giant has argued that one of the reasons it requires developers to pay App Store commissions is to help Apple fight marketplace fraud and protect consumers. One developer in particular, Kosta Eleftheriou, has made it his mission to highlight some of the most egregious scams on the App Store. Eleftheriou more recently took his crusade a step further by filing a lawsuit against Apple over the revenue he's lost to App Store scammers. But to what extent Apple was profiting from the App Store scams was less clear.
Biden’s infrastructure plan is ‘very comprehensive’: Amtrak CEO
StoryfulExtinction Rebellion protesters used hammers and chisels to shatter windows at HSBC’s headquarters in London’s Canary Wharf on April 22.According to the group, nine women took part in the protest, which was scheduled for 7 am.Extinction Rebellion said they were protesting the bank’s climate plan. The plan “still allows the bank to finance coal power, and provides no basis to turn away clients or cancel contracts based on links to the fossil fuel industry,” the group said.A spokesperson for HSBC was quoted by the BBC as saying: “We welcome meaningful dialogue on our climate strategy; however, we cannot condone vandalism or actions that put people and property at risk.”The bank says it is aiming to bring financed emissions to net-zero by 2050. Credit: William Watson/Extinction Rebellion UK via Storyful
Stocks turn lower after report on Biden's tax proposal
A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal. The S&P 500 was down 1% as of 1:58 p.m. Eastern, having shed an earlier gain. The S&P 500 closed higher Wednesday, ending a two-day slide, but it's still down for the week. The selling was widespread, with every sector in the S&P 500 lower. Wall Street is hoping to get a better sense of just how much companies in various sectors are benefiting from the economic recovery.
They planned a wedding at this lavish South Florida mansion. The owner had no idea
This sounds like a plot for “Wedding Crashers: Florida Edition” sequel. A South Florida couple loved a Southwest Ranches mansion so much they planned their wedding there for last weekend, the South Florida Sun Sentinel first reported. The mansion had indeed been for sale for some time, and apparently local lovebirds Courtney Wilson and Shenita Jones believed it was currently vacant. “Upon unit arrival, two individuals were trying to speak with the homeowner of 5550 Hancock Rd in regards to holding a wedding at the property,” said the report. According to Zillow, the nine-bedroom, 15-bath property is currently under contract, but, this being South Florida, that could change in a New York minute.
Elon Musk says Tesla’s solar panels will be sold in bundles with Powerwall
Elon Musk said Tesla Solar Panels and its Solar Roof will only be sold as an integrated system with the Tesla Powerwall battery starting next week. The integrated system using Tesla's Powerwall. which stores energy and makes it available on demand, will enable a "seamless whole house backup during utility dropouts," Musk said. CLICK HERE TO READ MORE ON FOX BUSINESSIn a follow-up tweet, Musk explained that "solar power will feed exclusively to Powerwall" and that the Powerwall battery will interface between the utility meter and house's main breaker panel. Musk responded by saying that "utility permission is required for flowing electricity back to grid, but usually not if stored in our battery."
Amazon bringing automated checkout to supermarkets: report
In an age of contactless dining, QR code menus and digital payments, Amazon is reportedly bringing its automated technology to supermarkets, according to planning documents for a store opening in Brookfield, Connecticut obtained by Bloomberg. Like Amazon Fresh stores, shoppers will reportedly be able to enter the newly augmented supermarkets by scanning smartphones via entry and grab what they need and go with seemingly limited interaction with employees. Instead, cameras will track shopping and software will charge customers for what they take when they walk out, according to the Bloomberg report. Amazon isn't stopping with supermarkets. The tech company announced an augmented reality hair salon in London earlier this week and it was also reported that the company plans to launch a furniture assembly program competing with the likes of Wayfair, Home Depot and Lowe's.
Tips on negotiating with your car insurance company after an incident
After you notify your car insurance company that your vehicle has been involved in an accident, they will send out a claim adjuster to take care of your insurance claim. This is why the insurance coverage you have - and the insurance company you use - are so important to get right. How do I find the right car insurance coverage? Every state has minimum requirements for what drivers need to include in their car insurance policy. When you use your car insurance to file a claim, it's important to understand that you're going to need to negotiate with your insurance company.
An Upstart Trade on a Taxing Day
Stocks quotes in this article: UPSTTax is a dirty wordTraders and investors seldom like to hear itThey like hearing it even less when it may take money of their trading pocketsThose words from the White House today regarding capital gains taxes sucked all the momentum out of stocks faster than tax money out of our pocketsShortly before those headlines hit, the market looked set for...
Jim Cramer: If the Capital Gains Taxman Cometh, Be Ready for Anything
NCR, HON, IBM, INTC, T, DOW Stocks quotes in this article: GSDo we adjust our portfolio now that President Joe Biden is going to propose a huge increase in the capital gains tax for the wealthy? Do we avoid the asset class that had favorable tax treatment and might lose it? We know that today's 20% capital gains rate has attracted a great deal of money into the stock market because you can make so much more...
Boston Scientific Makes an Important Upside Breakout
A caller during Wednesday's Lightning Round segment of Mad Money asked Jim Cramer about Boston Scientific (BSX) . In this daily Point and Figure chart of BSX, below, we can see that prices just made an upside breakout at $42.65 and that a price target of $52 is shown. In this weekly Point and Figure chart of BSX, below, we used close-only price data and a five-box reversal. An upside price target of $74 is indicated. The $52 to $58 area is our first price target with $74 longer-term.
Newton man arrested in connection with burglaries
A Newton man was arrested Wednesday in connection with a number of burglaries and vehicle break-ins that have occurred in the city in recent months, Newton police said. Peter Karl Ciesluk 36, was arrested at his home on Colella Road in Newton on charges of receiving stolen property, breaking and entering a building during the nighttime, breaking and entering a vehicle during the nighttime and receiving stolen property, police said in a press release. Ciesluk had previously been arrested in the early morning hours on April 13 in connection with a vehicle that was broken into inside a garage on Countryside Road, police said.
John Barros calls for release of files from all BPD internal investigations involving sexual assault allegations in last 30 years
Advertisement“I’m calling on the acting mayor to provide a report on the number of internal affairs investigations into police officers accused of sexual assault over the past 30 years,” Barros said. However, the internal affairs probe and social services investigations went forward and determined there was evidence of abuse. She is also pushing for the immediate release of the full internal affairs file for Ruse, saying many questions have not been answered. Within 45 days, Everett will deliver a plan to review and potentially reform the police department’s internal affairs procedures, Janey said. Everett’s plan will address all internal investigations of the department, Janey added.
Taxing unemployment and PPP loans would set Rhode Island apart from almost every other state
PROVIDENCE — Rhode Island could be one of only a handful of states to tax both forgiven Paycheck Protection Program loans as well as people’s full unemployment benefits. But the review shows most states are giving tax breaks on PPP loans and unemployment. To make up some of the gap, McKee proposed making anything above $150,000 in forgiven PPP loans taxable. AdvertisementRhode Island automatically follows federal rules, but McKee’s budget would explicitly “decouple” Rhode Island from the federal law and make amounts over $150,000 taxable. If the federal stimulus money doesn’t allow the state to offset that, what “adjustments” will the state make to the budget?
MGH pushes ahead with nearly $2 billion expansion
The project includes two connected mid-rise towers along Cambridge Street with 482 beds and new facilities to treat cardiac and cancer patients. Hospital officials are submitting detailed plans to city officials on Thursday, with community meetings scheduled next month by the Boston Planning & Development Agency. MGH officials are promising several improvements they say will make Cambridge Street easier on pedestrians, cyclists, and MBTA users, including bike parking and space for bike lanes. In response to concerns from neighborhood groups, hospital officials have agreed to preserve part of the Winchell School’s facade and build it into the design of their new building. So would a building MGH owns on Beacon Hill’s Garden Street that the hospital is offering up for affordable housing.
Arlington ISD breaks ground on new elementary school
Arlington ISD kicked off construction of a new elementary school in a ceremonial groundbreaking this week. Webb Elementary School, which is more than 60 years old, will get a new building, scheduled to open in the fall of 2022. Students and teachers at Webb joined Arlington ISD Superintendent Marcelo Cavazos and school board trustees Wednesday to celebrate the milestone. Webb’s new building is part of a $966 million bond package approved by Arlington voters in 2019. The new school will be on the same site as Webb’s current building, 1200 N. Cooper St. Once the new facility is complete, the old building will be demolished.
4-vehicle crash in Matteson sends two to hospital, closes U.S. 30 for hours
Police said the driver of a Kia sedan was traveling west and while attempting to change lanes hit the rear of a garbage truck, and the semi that was behind the Kia pushed the sedan into the back end of the garbage truck, which then hit a fourth vehicle.
Town zoning change preserves horse farms, building of houses
Town of Huntington officials have added a new zoning category meant to preserve equestrian properties while allowing housing development. Huntington Supervisor Chad Lupinacci said six parcels in the town qualify as horse farms under town code. In other cases adjacent properties in one and two-acre zones could be purchased or assembled to reach the 20-acre minimum required by the overlay zone. The measure is similar to the town’s zoning rules to preserve golf courses while also allowing development under the Open Space Cluster District zoning passed in 2010. Now that it has been approved, the developer can apply to be in the zone, town officials said.
Dakota County passes stronger water regulations after company sought to ship water via rail to Southwest U.S.
Dakota County has passed stronger water regulations to prohibit bulk exportation of groundwater from the county. Ordinance amendments approved Tuesday by the county board of commissioners are a response to interest from at least one local company to export 500 million gallons of Dakota County groundwater annually and ship it to be sold in the Southwest United States, where water is scarcer. The ordinance amendments prohibit the construction or operation of new wells that use more than 50 million gallons of water a year and are used for commercial or institutional water supplies. It requested to use the Mount Simon Aquifer, the deepest aquifer in Dakota County. According to Dakota County officials, the DNR had confirmed the investment group would work with Water Train, an Oregon-based company currently providing water to government agencies in Colorado, Utah and Arizona.
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Mexican president pushes controversial reforestation plan
The program has already planted 700,000 trees in Mexico, where it pays 450,000 Mexican farmers a stipend of about $225 per month to tend the saplings. That is popular among farmer in dry towns like Kopoma, in Yucatan state, where highly seasonal rainfall makes the tree program a vital stopgap for farmers like Roberto Cocom Caamal, 72. In the dry season, he and 69 communal farmers in Kopoma can tend the saplings they get from army-run nurseries on a 426-acre (172.5 hectare) plot they enrolled in the program. During the rainy season, he and other Maya farmers can also plant traditional food crops. It has “opened up new possibilities to survive,” Cocom Caamal said of the program, which currently has a budget of about $1.4 billion and operates in 20 of Mexico's 32 states.
Evers vetoes GOP bills directing federal COVID-19 spending
Evers noted concerns about the legality of some of the spending in his vetoes. Evers also previously vetoed a Republican bill that would have given the Legislature, rather than Evers, control over the spending of the federal money. Evers said about 84,000 small businesses that have an annual gross revenue between $10,000 and $7 million could qualify. Details about the grant program will come after the federal government has issued more details about how the money is to be used, Evers said. The $420 million grant program is part of $600 million in federal money Evers has promised to target toward small businesses.
Stocks turn lower after report on Biden's tax proposal
The broader market has had a choppy week of ups and downs as Wall Street digests earnings and tries to gauge how much and how quickly the U.S. and global economy will recover through 2021. “It’s not a clear time in the market,” said Jay Hatfield, CEO and portfolio manager at Infrastructure Capital Advisors. That will likely change as soon as more vaccines are distributed internationally, Hatfield said. Credit Suisse had been a primary backer of Archegos Capital Management, which collapsed last month after several of its bets went sour. Investors will be looking to Intel after the closing bell when the chip giant reports its quarterly results.
AG wants legal fees paid by Robert Indiana's estate returned
AUGUSTA, Maine (AP) — The Maine Attorney General’s Office says the estate of Robert Indiana has paid seven law firms excessive legal fees and wants the estate to recoup $3.7 million of them, according to a court filing on Monday. The estate’s personal representative, James Brannan, is disputing that he must ask the law firms to return the funds, the Portland Press Herald reported. His attorney responded to the filing on Wednesday saying the attorney general’s office is responsible for giving the firms notice that they need to return the funds, the newspaper reported. The attorney general's office declined to say more about why they believe Brannan is responsible for the overpayments, the newspaper reported.
Ma'Khia Bryant's neighbor says his security camera footage shows cop had no choice but to shoot her
Ma'Khia Bryant's military veteran neighbor has said his home security camera footage proves Columbus Police Officer Nicholas Reardon had no choice but to shoot the black 16-year-old because more people could have been killed if he hadn't acted. Reardon shot Bryant four times at around 4.45pm on Tuesday on the 3100 block of Legion Lane while responding to a 911 call about an attempted stabbing. In the bodycam footage, Bryant is seen holding a knife and charging at two other young women. Another neighbor agreed with the family, telling the Dispatch she didn't know why the cop who shot Bryant didn't use a taser instead of firing four bullets at her. Officer Reardon pulls out his gun and repeatedly shouts: 'Get down!
Inside the Old Western town in Texas an organization is trying to save from demolition
AdvertisementAn Old Western town in Texas which features period buildings salvaged from across the county is now facing demolition after the site's owners announced plans to sell up to a property developer. The Storybook Ranch in McKinney, Texas features 21 buildings, all dating back to when the western United States was first settled. She has started a nonprofit, the Bethel Village Foundation, aimed at restoring and relocating the Old Western town to her ranch even further north, on the border of Van Alstyne and Whitewright. An old newspaper article inside the bank at Storybook Ranch indicates that notorious thieves Bonnie and Clyde once stole from the bank vault. She has spoken to representatives from the local governments about her idea, according to her organization's website, and is hoping to raise enough money by June to make her dream of revitalizing the Old Western town come true.
Joe Biden is eyeing a capital gains tax as high as 43.4% for wealthy
Postmedia may earn an affiliate commission from purchases made through links on this page. Article contentPresident Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6 per cent, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4 per cent, according to people familiar with the proposal. A 3.8 per cent tax on investment income that funds Obamacare would be kept in place, pushing the tax rate on returns on financial assets higher than the top rate on wage and salary income, they said. Try refreshing your browser, or Joe Biden is eyeing a capital gains tax as high as 43.4% for wealthy Back to videoStocks slid on news about the plan, with the S&P 500 Index down as much as 0.6 per cent after climbing 0.2 per cent earlier. The Nasdaq Composite fell 0.4 per cent as of 1:15 p.m. after rising as much as 0.5 per cent.
Remember the Tea Party? It’s Still Raising Millions in Dark Money.
Under Jenny Beth Martin’s direction, Tea Party Patriots has sprawled into a dark-money network where millions of dollars in often anonymous donations slosh around with little transparency. Tea Party Patriots ActionFounded 2017In 2019, this nonprofit brought in $3.6 million and paid Martin $246,144 for 25 hours of work per week. In 2018, its biggest expenditure was a $530,000 donation to the TPP Citizens Fund. The foundation has paid both the TPP Citizens Fund and TPP, Inc. for fundraising and other work, according to tax filings. Tea Party Patriots, Inc.
Legalization bids boost outlook for US cannabis industry
The cannabis industry is making strides in other ways as well. The industry is eager for changes to federal laws that limit cannabis companies’ access to banking and other services. Medical and adult-use cannabis sales combined jumped 58% in the U.S. last year to about $19.2 billion, according to Cowen. The ETF, which focuses on cannabis stocks, is still up about 80% from 12 months ago. Shares in some of the biggest marijuana companies, including Tilray, MedMen Enterprises and Aphria, have doubled this year.
Democratic senator says GOP infrastructure proposal is 'a slap in the face'
Casey declared he wouldn’t be “a part of any scheme that sells out our seniors,” referring to the lack of funding for home-care services in the GOP infrastructure plan. The Republican proposal is more focused on traditional priorities such as repairing roads and bridges. “Under the American Jobs Plan, these workers would see their incomes grow and our Nation would see jobs created,” he said. Biden’s American Jobs Plan would “solidify the infrastructure of our care economy by creating jobs and raising wages and benefits for essential home care workers,” according to a White House fact sheet. The White House says the president wants to provide home and community-based care for individuals who sometimes have to wait years for at-home care.
NYC sues Big Oil
NYC sues Big OilMayor Bill de Blasio announced Thursday that New York City is suing Big Oil. The Democrat said the city will take BP, Exxon, Shell and the American Petroleum Institute to court over violations of the city's consumer protection law.
Facebook fundraisers may be taxed. One do-gooder got a 'huge shock' after a $16,000 tax bill
"It was a huge shock," the 27-year-old Goffinet told USA TODAY on Monday. Goffinet realized others may also need help, and he put out a call on his hometown's Facebook page to raise funds, his CPA, Dawn Brolin told USA TODAY. Goffinet hopes Brolin and her accounting team can help him point out how the money was used to benefit his community. He said it's been uncomfortable asking his Facebook friends again for money – this time to help pay his tax bill during a pandemic. "I’m going to do everything I can to put him in the right position," Brolin, noting the tax bill is due May 17.
New Jersey deli valued at more than $100 million delisted from stock market
Shares of a New Jersey-based deli owner that was recently valued at more than $100 million despite the fact it only operates a single store have been delisted from the stock market. “The pastrami must be amazing,” Einhorn wrote of the deli. One key investor tied to Hometown named Peter Coker Sr. has been sued for hiding money from creditors and fraud, CNBC reported. According to Hometown’s SEC filing, Coker Sr., who runs North Carolina-based Tryon Capital, has a $15,000 a month consulting deal with the deli owner. Meanwhile, most of the deli’s shares are held by two sets of entities in Hong Kong and Macau, China.
AT&T profits surge as wireless unit, HBO Max add customers
Shares of AT&T rose Thursday after the telecom giant’s first-quarter results topped analyst expectations. The company’s wireless division, its largest unit, added 595,000 phone customers who pay a monthly bill, up from 163,000 in the same period in 2020. The company doesn’t break out how many people sign up for its streaming service, HBO Max, but said there are now 44.2 million subscribers to HBO Max or the traditional HBO channel in the US. AT&T also signed up 46,000 home internet customers and lost 620,000 video customers. AT&T shares rose more than 5 percent to $31.74 in morning trading.
FAA says Boeing still working on fix for over 100 grounded 737 MAX planes
The Federal Aviation Administration on Thursday said 106 Boeing 737 MAX airplanes have been grounded worldwide by an electrical issue and said the planemaker is still working on a fix. Boeing disclosed an electrical power system issue on April 7 and recommended operators temporarily remove these airplanes from service. The FAA reported 106 Boeing 737 MAX airplanes have been grounded worldwide by an electrical issue first disclosed on April 7. The top three US 737 MAX operators – Southwest Airlines, American Airlines and United Airlines – removed more than 60 jets from service following the notice from Boeing. The FAA said it “verified all operators with affected airplanes have voluntarily taken those aircraft out of service.”
Richard Carranza fined for taking wife to ‘Hamilton’ with special DOE discount
Former schools Chancellor Richard Carranza improperly took his wife on a Department of Education outing to see the hit show “Hamilton” — and the abuse of power got him slapped with a $1,100 fine, it was revealed Thursday. “The Chancellor used a ticket for his wife that typically would have been distributed to DOE employees,” the agency said in a release. Richard Carranza and his wife attended an April 2019 production of “Hamilton.” Theo Wargo/WireImageThe board ruled the purchase constituted a “misuse of city position” and demanded that Carranza cough up a fine. “In using the ticket for his wife, the Chancellor used his City position to benefit his wife, a person with whom he is ‘associated,'” the agency said. The board said Richard Carranza’s purchase constituted a “misuse of city position.” Getty Cindy Ord/Getty ImagesAfter three rocky years at the helm, Carranza left the DOE in February.
Minnesota gasps at the financial damage it faces from the Texas freeze
Gas prices in Minnesota rose to 70 times their normal level, as deliveries to the state’s main trading hub dropped by 39 percent. “I don’t think we even yet truly understand what happened,” said state Sen. David Senjem (R-Rochester), a former Minnesota legislature majority leader. Story continues below advertisementIn Minnesota, as in states across the country, utilities’ legitimate expenses are passed on to customers. The smallest commercial utility, Greater Minnesota Gas, said it had enough of a supply in storage in February and was able to avoid the spot market. “The company has already had to pay most of the natural gas costs from February, but these costs will only be recovered over an extended period of time,” Corson wrote.
Prototype of first US dollar coin may sell for $500,000 at auction
A piece of copper that was struck by the U.S. Mint in Philadelphia in 1794 and was a prototype for the fledgling nation’s money will go up for auction Friday. Businessman and Texas Rangers co-chairman Bob Simpson owns the item, which is known as the "No Stars Flowing Hair Dollar." While it closely resembles silver dollars that were later minted in Philadelphia, it gets its name because it is starless. Heritage Auctions estimates the prototype will sell for between $350,000 and $500,000 when it goes on the block online in Dallas on Friday. "I think coins should be appreciated almost as artwork," he said.
'I love our situation,' says Chipotle CEO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'I love our situation,' says Chipotle CEOChipotle CEO Brian Niccol joins Kate Rogers and 'The Exchange' to discuss his company's blowout earnings numbers and the success of additions to its digital menu, like Quesadillas. He also discusses his company's efforts to find workers.
Here's what higher capital gains taxes could mean for markets and the economy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what higher capital gains taxes could mean for markets and the economyCNBC's "Power Lunch" team discusses President Biden's reported capital gains tax increase, with Jack Ablin of Cresset Capital and Doug Sandler of Riverfront Investment Group.
Will Biden's infrastructure plan actually create jobs?
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWill Biden's infrastructure plan actually create jobs? Douglas Holtz-Eakin, American Action Forum; Gregory Daco, Oxford Economics; and CNBC's Steve Liesman discuss whether President Biden's infrastructure plan will actually create jobs.
Century 21 Real Estate CEO on record high home prices, investor demand
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCentury 21 Real Estate CEO on record high home prices, investor demandCNBC's "Power Lunch" team breaks down the hot housing market with Mike Miedler, CEO of Century 21 Real Estate.
What increased capital gains taxes may mean for investors
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat increased capital gains taxes may mean for investorsCNBC's "Power Lunch" team discusses President Biden's potential capital gains tax, according to a Bloomberg report, with Jack Ablin of Cresset Capital and Doug Sandler of Riverfront Investment Group.
Jobless claims hit a new pandemic low: Here's how the news could affect your money
Stocks recover from losses, first-time unemployment claims hit another pandemic low, and how you can save more money for retirement. Here's how the headlines could affect your money. Jobless claims hit another pandemic lowFor the second consecutive reporting period, fewer Americans headed to the unemployment line. That's better than economists expected and an improvement from the prior week. Scott Wren Wells FargoRetirement savings by stateConnecticut residents are best set up for retirement: The average resident has $523,568 stashed away in a 401(k) or IRA, according to data from wealth management platform Personal Capital.
Suze Orman: You are paying off debt wrong. Here's the best way to get rid of your loans
The average person has more than $92,000 in debt, according to the Experian 2020 Consumer Credit Review. The most important step to paying off your obligations will be deciding which loans you need to tackle first, according to financial expert and podcast host Suze Orman. You should start by categorizing your loans as secured or unsecured, said Orman. Check out this video to see how the bestselling author recommends you determine which type of debt you have and what you need to do after compiling your list. CHECK OUT: Why January is a particularly great time to invest your money via Grow with Acorns+CNBC.
Stocks slide on report Biden will raise capital gains tax
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStocks slide on report Biden will raise capital gains taxCNBC's Ylan Mui breaks down a Bloomberg report that says President Biden will raise the capital gains tax, and the news is moving markets.
Supreme Court limits the FTC's authority to return money to consumers duped by deceptive business practices
Justices of the United States Supreme Court will meet via teleconference and not at the court building on April 19, 2021 in Washington, DC. The Supreme Court issued a ruling Thursday that will significantly limit the Federal Trade Commission's ability to extract monetary relief for consumers when companies are found to use deceptive practices. The decision will significantly hamper the FTC's ability to return money to consumers duped by deceptive business practices, as the four sitting commissioners testified to Congress on Tuesday. Facebook, for example, argued in its motion to dismiss the FTC's ongoing antitrust lawsuit that it lacks statutory authority under 13(b). "With this ruling, the Court has deprived the FTC of the strongest tool we had to help consumers when they need it most.
Options players are betting on a blowout earnings report from Intel after the bell
Intel has spent this year crushing the competition, gaining 26% since 2021 began, as opposed to 13% gains in the SMH semiconductor ETF. Options traders are betting that outperformance will continue when the company's earnings results cross the wire Thursday afternoon. "Call option volume has significantly outpaced put option volume for the last month or so, and that was true again [Wednesday], with calls outpacing puts by about 2 to 1. Those contracts expire Friday at a breakeven stock price of $67.44, which is about 6% higher than where Intel closed Wednesday's session. Intel was trading about 1% lower in Thursday's session.
Here’s what will propel Alphabet toward more growth after the pandemic
Alphabet's stock hit an all-time high earlier this week, and analysts say growth in Google's businesses outside of search ads could propel shares even higherOn Monday, April 19, the Google-parent company's stock price hit an intraday all-time high of $2,304.09 and ended the day at a record closing high of $2,289.76. But that's just the tip of the iceberg, analysts told CNBC.
Biden to propose capital gains tax of 39.6% to fund education and child care, reports say
U.S. President Joe Biden speaks about jobs and the economy at the White House in Washington, April 7, 2021. President Joe Biden will seek to raise taxes on millionaire investors to fund education and other spending priorities as part of the administration's effort to overhaul the U.S. economy. As part of the plan, Biden will seek an increase to the tax on capital gains to 39.6% from 20% for those Americans earning more than $1 million, according to multiple outlets including Bloomberg News and The New York Times. The capital gains tax is especially important to Wall Street since it dictates how large a chunk of an equity sale is collected by the federal government. This plan would bring the capital gains tax rate and the top individual income tax rate, currently at 37%, to near parity.
As White House considers cancelling student debt, dos and don'ts for borrowers
If the White House opts to leave student loan forgiveness to Congress, Democrats would likely use the budget reconciliation process to get it done. And roughly one-third of federal student loan borrowers, or 15 million people, would see their balances reset to zero. Meanwhile, the debt for 80% of federal student loan borrowers, or 36 million people, would be gone entirely. One-fifth of federal student loan borrowers owe more than $50,000, and around 7% of borrowers owe more than six-figures. Formerly, any student loan debt canceled by the government was considered taxable and levied at the borrower's normal income tax rate.
Pledging to go green doesn't just help corporate brands. It boosts stocks
New York (CNN Business) Net zero pledges have become all the rage in Corporate America. Big banks , steel companies and even ( mostly European ) oil companies are pledging to wipe out their carbon emissions over time. Savita Subramanian, Bank of America's head of US equity strategy and head of global ESG researchIf you don't provide transparency, investors will assume the worst and ding you for it." Neithernor, the largest US oil companies, have announced net zero goals. Green companies now trade at a nearly 30% premium to brown ones, Subramanian said, adding that these are "quite extreme levels."
Housing market remained strong in March with highest prices ever
Home prices are setting new records as buyers scramble for an accepted offer amid a continuing inventory crunch. The median sale price was a record high $329,100 in March, according a report from the National Association of Realtors. It was the highest median price since NAR began tracking in 1999. The median price, which includes existing single-family homes, townhomes, condominiums and co-ops, was up a record 17.2% from a year ago. While the inventory of homes for sale in March inched higher since February, it was still down 28.2% from one year ago.
Wall St slides on report of Biden's plan to almost double capital gains tax
A U.S flag is seen on the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., November 6, 2020. REUTERS/Carlo AllegriWall Street's main indexes hit session lows on Thursday, after a report said President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%. read moreAt 01:20 p.m. ET, the Dow Jones Industrial Average (.DJI) fell 268.71 points, or 0.79% , to 33,868.60, the S&P 500 (.SPX) lost 28.20 points, or 0.68%, to 4,145.22 and the Nasdaq Composite (.IXIC) lost 85.96 points, or 0.62%, to 13,864.26. Our Standards: The Thomson Reuters Trust Principles.
New York City sues Exxon, BP, Shell in state court over climate change
New York City is suing three major oil companies and the top industry trade group in state court, arguing that the companies are misrepresenting themselves by selling fuels as "cleaner" and advertising themselves as leaders in fighting climate change. "These lawsuits have no merit and do nothing to advance meaningful efforts that address climate change," said Exxon spokesman Casey Norton. "We support global efforts from policymakers, companies and individuals to develop real solutions." "The defendants in our lawsuit have spent millions to persuade consumers that they present a clean, green choice," said New York City Corporation Counsel James Johnson. That lawsuit, filed in 2018, was an early effort among U.S. states and cities to turn to courts and use state law to address climate change.
Biden to propose hike in capital gains taxes to pay for more child care -sources
U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom BrennerU.S. President Joe Biden will next week propose raising taxes on the wealthy to fund major investments in child care, universal pre-kindergarten education and paid leave for workers, sources familiar with the plan said. Biden will propose raising the marginal income tax rate to 39.6% from 37%, and nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, according to the sources. Wealthy Americans could face an overall capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). "If it had a chance of passing, we'd be down 2,000 points," said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to reports about hiking the capital gains tax.
Trees for visas: Mexico suggests US citizenship for reforestation
Mexico's President Andres Manuel Lopez Obrador speaks during a virtual U.S. global climate summit, at the National Palace in Mexico City, Mexico, April 22, 2021. In remarks at a White House virtual climate summit, Lopez Obrador said that Mexico aimed to expand his administration's signature "Sembrando Vida," or "Sowing Life," program to Central America, which he said is planting 700,000 trees. Calling it "possibly the largest reforestation effort in the world," Lopez Obrador said the program aims to create 1.2 million jobs and plant 3 billion additional trees through expansion into southeastern Mexico and Central America. Lopez Obrador did not make new commitments to cut greenhouse gas emissions. Lopez Obrador has tended to skip international events and has only left Mexico once, to meet with then-U.S. President Donald Trump, since assuming power.
U.S. seeks to conserve more farmland as crop prices climb
About 21 million acres are enrolled in the program, below the Congress-set limit of 25 million acres. The cap will gradually increase to 27 million acres by 2023. Apart from environmental goals, conservation land can also generate rural jobs in outdoor recreation or construction, he said. Still, farmers said the potential for big profits from crop production will make them reluctant to take land out of production. He said the program was aimed at preserving marginal acres, not the most productive U.S. farmland.
Why the post-pandemic economy will include higher prices, worse service, longer delays
Companies eager to open their doors to capitalize on vaccinated and eager customers are having trouble finding workers — which means consumers should expect longer wait times, delays in service, and higher prices overall, labor economists warn. Job seekers say the wages being offered by employers in the post-lockdown job market are simply too low. “Given the tightness of the labor market, wages are going to have to go higher,” said Chad Moutray, chief economist for NAM. Manufacturers expect prices will rise slightly faster, hitting 3.9 percent in the next 12 months reflecting higher overheads and increased costs for supplies. Ultimately, once the labor market strengthens and companies meet worker demand for higher wages, that will in turn lead to “more purchasing power for workers,” Wolfers said.
Mexican president pushes controversial reforestation plan
KOPOMA, México (AP) — Mexican President Andrés Manuel López Obrador made a strong push Thursday for his oft-questioned tree-planting program, trying to get the United States on board to fund a massive expansion of the program into Central America as a way to stem migration. López Obrador pitched his “Planting Life” program, which aims to plant 1 billion fruit and timber trees, to U.S. President Joe Biden at Thursday’s climate change summit. ADVERTISEMENT“You, President Biden, can finance the Planting Life program in Guatemala, Honduras and El Salvador,” López Obrador said during Thursday’s videoconference session of the summit. During the rainy season, he and other Maya farmers can also plant traditional food crops. López Obrador says the carbon-capture from trees in the reforestation program will make a major contribution to fighting climate change.
Dow Jones Dives On Biden Tax Hike Report, Climate Pledge; Visa Passes Buy Point
The Dow Jones Industrial Average sank on a report President Joe Biden wants to hike the capital gains tax rate on wealthy Americans. Dow Jones Lags As Visa Stock Passes BuyThe Dow Jones Industrial Average was already in the red before sinking lower on the Biden tax report. Chemical stock Dow (DOW) was the worst-performing component, giving up more than 5%. Swimming pool equipment supplier Pool is in a buy zone after passing a cup-base buy point of 401.39. TransUnion raced out of its buy zone after passing a cup-with-handle buy point of 97.72.
Gold marks first loss in 3 sessions
Gold for June delivery GC00, -0.63% GCM21, -0.63% lost $11.10, or 0.6%, to settle at $1,782 an ounce on Comex. On Thursday, the Silver Institute’s World Silver Survey 2021, produced by researchers at Metals Focus, forecasted higher global silver demand and prices for this year. Gold prices briefly pared losses in the immediate aftermath of the weekly U.S. jobless claims data Thursday, then headed toward session lows. Also, “if we look at the gold price on the daily time frame, the 100-day [simple moving average level] is also turning out to be a strong resistance,” he told MarketWatch. “The gold price needs to clear this resistance in order for the price to continue to move higher.” The 100-day moving average is at $1,806.51, according to FactSet data.
Biden to propose nearly doubling capital gains tax for wealthy: report
President Joe Biden will propose nearly doubling the capital gains tax rate for wealthy Americans to 39.6%, Bloomberg News reported Thursday. Combined with an existing surtax on investment income, Bloomberg said, that means federal tax rates for investors could be as high as 43.4%. Bloomberg cited people familiar with the proposal, and said the plan would boost the capital gains rate to 39.6% for those earning $1 million or more. The president is expected to release the proposal next week as part of the tax increases to fund social spending in the forthcoming "American Families Plan," Bloomberg said. U.S. stocks DJIA, -0.81% SPX, -0.74% COMP, -0.77% turned lower on the news.
Biden will outline 'American Families Plan' in speech to Congress, White House says
President Joe Biden will use a speech to Congress next week to outline his "American Families Plan," White House press secretary Jen Psaki said Thursday. The plan is expected to focus on policies including paid family leave, childcare and free community college. Asked about a report that Biden will propose nearly doubling capital gains taxes on wealthy Americans to help pay for the plan, Psaki said she wouldn't get ahead of Biden's final decisions. She reiterated his pledge not to raise taxes on anyone making less than $400,000 a year. U.S. stocks DJIA, -0.79% turned south in afternoon trade after a report said Biden is weighing the capital-gains proposal.
Dow Inc., Walgreens Boots share losses lead Dow's 350-point drop
Shares of Dow Inc. and Walgreens Boots are retreating Thursday afternoon, leading the Dow Jones Industrial Average selloff. Shares of Dow Inc. DOW, -5.43% and Walgreens Boots WBA, -2.27% are contributing to the index's intraday decline, as the Dow DJIA, -0.81% was most recently trading 352 points lower (-1.0%). Dow Inc.'s shares have fallen $3.81 (5.9%) while those of Walgreens Boots are down $1.32, or 2.4%, combining for a roughly 34-point drag on the Dow. A $1 move in any one of the 30 components of the Dow results in a 6.58-point swing. Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.
Et tu, boomer? Millennial stock-traders aren’t all that different, one analyst argues
But “the dot com crash did not signal the end of boomers’ mutual fund inflows. In contrast, millennials piled into the market during the spring of 2020 when the stock market SPX, -0.74% appeared to have bottomed. “Millennials will follow in boomers’ footsteps now that they’ve had their introduction to stock market investing,” Colas concludes. They may even grow squirrely when markets falter, a la mutual fund flows in 2000 – 2002. Read next: Day-trading Reddit readers nearly crashed the stock market.
Cryptocurrency Survey Points to a Weakness for Coinbase
Coinbase is the most popular cryptocurrency exchange in the U.S. by far—a key advantage as more Americans place bets on Bitcoin and its equivalents. A Mizuho survey found that about 40% of Coinbase (ticker: COIN) users also trade crypto on PayPal (PYPL) or Square’s (SQ) Cash app. “Over time, Coinbase pricing – and industry pricing in general – may face downward pressure from platforms like PayPal and Cash App,” Dolev wrote. But so far, the company’s fees have stayed relatively high despite competition from other brokers and exchanges. Armstrong said earlier this month that he expects other areas—from debit cards to institutional custody— could make up half the company’s revenue in the next five or 10 years.
Coinbase stock falls toward 4th-straight loss, after first non-bullish analyst starts coverage
Analyst Dan Dolev at Mizuho broke ranks with his Wall Street peers, as he became the first to initiate coverage of Coinbase Global Inc. Dolev set a neutral rating for the cryptocurrency exchange, and a stock price target of $285, which was 6.6% below current levels. The stock fell 2.2% in midday trading toward a four-day losing streak. Dolev said that while Coinbase was a "major share gainer," the risk of pricing pressure offsets opportunities surrounding the stock. Coinbase's stock has lost 10.8% this week, while bitcoin has declined 10.6% and the S&P 500 SPX, -0.73% has slipped 0.2%.
Gold futures settle lower after a 2-session climb
Gold futures ended lower for the first time in three sessions on Thursday, easing back after settling a day earlier at their highest level in about two months. "The U.S. weekly jobless claims data was much stronger than market expectations and this has stopped the gold price from soaring further," said Naeem Aslam, chief market analyst at AvaTrade. Also, the 100-day moving average for gold prices is "turning out to be a strong resistance," he said. The 100-day moving average is at $1,806.51, according to FactSet data. "The gold price needs to clear this resistance in order for the price to continue to move higher," said Aslam.
J.B. Hunt raises dividend by 7.1%, now yields about half the S&P 500
J.B. Hunt Transport Services Inc. JBHT, +2.12% said Thursday it was raising its quarterly dividend by 7.1% to 30 cents a share. The new dividend will be payable May 21 to shareholders of record on May 7. The trucking company's stock rose 2.0% in afternoon trading. Based on current prices, the new annual dividend rate implies a dividend yield of 0.71%, which compares with the yield for the SPDR Industrial Select Sector ETF XLI, -0.24% of 1.26% and the implied yield for the S&P 500 SPX, -0.73% of 1.40%, according to FactSet. J.B. Hunt's stock has rallied 69.6% over the past 12 months, while the industrial ETF has climbed 67.0% and the S&P 500 has advanced 48.5%.
Biden will outline 'American Families Plan' in speech to Congress, White House says
President Joe Biden will use a speech to Congress next week to outline his "American Families Plan," White House press secretary Jen Psaki said Thursday. The plan is expected to focus on policies including paid family leave, childcare and free community college. Asked about a report that Biden will propose nearly doubling capital gains taxes on wealthy Americans to help pay for the plan, Psaki said she wouldn't get ahead of Biden's final decisions. She reiterated his pledge not to raise taxes on anyone making less than $400,000 a year. U.S. stocks DJIA, -0.80% turned south in afternoon trade after a report said Biden is weighing the capital-gains proposal.
Why Is the Stock Market Down Today? There’s Just 1 Reason.
Everything was going fine for the stock market on Thursday—and then an anonymously sourced report hit that detailed how President Joe Biden planned to raise taxes on the wealthy, causing the major indexes to sink into the red. The details in the report, courtesy of the New York Times, were sparse, but enough to spook the market. But in a vacuum, higher taxes are not a good thing for stocks, Michael Darda, chief economist at MKM Partners, wrote in a note before the report hit. “Although there is no direct linkage between tax rates and productivity cycles, we would have to assume that all other things equal (they never are) these would be a headwind,” he wrote. At least when it comes to stock market valuations, higher tax rates, higher inflation rates, and higher market interest rates could become a serious fly in the ointment.”For at least one day, the stock market appears to agree.
Biden to propose nearly doubling capital gains tax for wealthy: report
President Joe Biden will propose nearly doubling the capital gains tax rate for wealthy Americans to 39.6%, Bloomberg News reported Thursday. Combined with an existing surtax on investment income, Bloomberg said, that means federal tax rates for investors could be as high as 43.4%. Bloomberg cited people familiar with the proposal, and said the plan would boost the capital gains rate to 39.6% for those earning $1 million or more. The president is expected to release the proposal next week as part of the tax increases to fund social spending in the forthcoming "American Families Plan," Bloomberg said. U.S. stocks DJIA, -0.81% SPX, -0.73% COMP, -0.76% turned lower on the news.
Senate Republicans’ opening infrastructure bid: $568 billion
A group of Senate Republicans laid down their marker in the infrastructure debate in Washington Thursday, unveiling in broad terms a plan to spend $568 billion over five years on roads, bridges, highways, broadband and other public works projects. The proposal would be a far less expansive version of an infrastructure spending bill that the White House and congressional Democrats have been seeking. Advocates on Thursday said it focused on a more traditional idea of infrastructure, in contrast to President Joe Biden’s $2.3 trillion plan which also includes cash for things not usually seen as public works, like elder care. Some of that new money, the group of four senators said, could come from repurposing unspent coronavirus aid cash sent to states. “I’m disappointed but not surprised that some of our colleagues have rejected this before even seeing it,” he said.
Et tu, boomer? Millennial stock-traders aren’t all that different, one analyst argues
But “the dot com crash did not signal the end of boomers’ mutual fund inflows. In contrast, millennials piled into the market during the spring of 2020 when the stock market SPX, -0.73% appeared to have bottomed. “Millennials will follow in boomers’ footsteps now that they’ve had their introduction to stock market investing,” Colas concludes. They may even grow squirrely when markets falter, a la mutual fund flows in 2000 – 2002. Read next: Day-trading Reddit readers nearly crashed the stock market.
Lam Research Had a Big Earnings Beat. What That Says About the Chip Shortage
Even though Lam Research reported a billion dollar profit and steady demand for its chip-making equipment, investors reacted negatively to the company’s financial report card. Lam Research reported late Wednesday that fiscal third-quarter earnings nearly doubled to $1.07 billion, or $7.41 a share. Muse wrote in a client note that Lam achieved record revenue in the March quarter, and is expecting to hit another record in the June quarter. Lam executives told investors to expect fiscal fourth-quarter earnings of roughly $7.42 a share, and sales of about $4 billion. Shares of Lam Research have advanced 129% in the past year, as the PHLX Semiconductor index gained 90%.
Sign of Small-Business Strain: New Survey Shows Spike in Early Retirement Plans
Some small businesses have struggled to navigate the pandemic—so much so that a survey released by Wilmington Trust found a doubling since last August in the number of small-business owners thinking about retiring earlier than planned. While the stock market has been charging higher on expectations of a strong economic recovery, the outlook among the more than 1,000 small-business owners surveyed nationally was less upbeat. Less than a quarter of owners said they were very optimistic about their outlook for the U.S. economy over the next 12 months. What’s more, nearly two-thirds of owners of smaller businesses and more than half of larger business owners see lower or flat revenue in 2021 versus prepandemic levels, according to Wilmington Trust.
AT&T earnings, revenue rise as company sees some recovery from COVID-19
The company earned an adjusted 86 cents a share on revenue of $43.9 billion during the first quarter, up from 84 cents in adjusted earnings per share and $42.8 billion in revenue a year prior. Both metrics topped the FactSet consensus, as analysts had been projecting 78 cents in adjusted EPS and $42.7 billion in revenue. AT&T recorded $19.0 billion in mobility revenue, up 9.4% from a year earlier. AT&T called out success with its efforts to bundle services like broadband, wireless, and HBO Max. In AT&T’s prior report, the company projected roughly $21 billion in gross capital investment and $18 billion in capital expenditures.
Dow Inc., Walgreens Boots share losses lead Dow's 350-point drop
Shares of Dow Inc. and Walgreens Boots are retreating Thursday afternoon, leading the Dow Jones Industrial Average selloff. Shares of Dow Inc. DOW, -5.43% and Walgreens Boots WBA, -2.27% are contributing to the index's intraday decline, as the Dow DJIA, -0.80% was most recently trading 352 points lower (-1.0%). Dow Inc.'s shares have fallen $3.81 (5.9%) while those of Walgreens Boots are down $1.32, or 2.4%, combining for a roughly 34-point drag on the Dow. A $1 move in any one of the 30 components of the Dow results in a 6.58-point swing. Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.
EV Stock Fisker Has Gotten Hammered. Goldman Sachs Says Sell.
The stocks of electric-vehicle start-ups, including Fisker, have been getting hit hard—and analyst sees more pain ahead as competition in the EV space ramps up. Goldman Sachs analyst Mark Delaney downgraded Fisker (ticker: FSR) stock to Sell from Hold. Fisker stock was off 8.62% to $13.84 in Thursday afternoon trading. Fisker stock has had a brutal few weeks. He sees competition increasing.
‘Judas and the Black Messiah’ Oscar nominations were ‘quite historical’: Charles D. King
Bloomberg(Bloomberg) -- American Airlines Group Inc. and Southwest Airlines Co. are preparing for a busy summer, even as they watch for signs that the coronavirus pandemic will derail expectations for a speedy rebound. U.S. carriers’ shares swung between gains and losses.Bookings started to pick up in mid-February, and accelerating gains since then are fueling optimism for the summer, Southwest said Thursday as it reported first-quarter results. Revenue tumbled 53% to $4.01 billion, Fort Worth, Texas-based American said. Wall Street expected $4.04 billion, according to the average of analyst estimates compiled by Bloomberg.Southwest reported a first-quarter adjusted loss of $1.72 a share, while analysts anticipated $1.85. Analysts had expected $2.06 billion.
Wall Street hit by capital tax increase report; dollar ticks up
On Wall Street, indexes turned lower after a Bloomberg report that the Biden administration would propose to lift the capitals gains tax to near 40% for wealthy individuals, nearly double the current rate. "If they’re going to tax people more and their net is going to fall, the value of that instrument is lower. MSCI's gauge of stocks across the globe shed 0.35% and the pan-European STOXX 600 index rose 0.68%. Treasury yields fell alongside stocks on the capital gains tax issue. The dollar index rose 0.247%, with the euro down 0.22% to $1.2006.
Airlines look past slow recovery to post-pandemic travel
The addition of France, Britain and 114 other states to the U.S. "Do Not Travel" list has also cast a pall. High on the list is a structural slump in business travel as many future meetings - if not airline conferences - stay online. "If you drop (fares) by 15% or 20% they will come to business," Clark said. Airlines that have used the crisis for digital upgrades "will come out of this in a more efficient way." (Reporting by Laurence Frost; Additional reporting by Sarah Young in London and Conor Humphries in Dublin; Editing by Alexander Smith)
President Biden hosts Climate Summit
“Any phasing out was not discussed and it is just premature.”The Governing Council confirmed that its 1.85 trillion-euro ($2.23 trillion) bond-buying program will run at an elevated pace in the current quarter. Read the ECB REACT.The ECB significantly stepped up asset purchases last month to contain the fallout of a government-bond sell-off that was driven a speedy U.S. economic recovery from the coronavirus pandemic. The aim is to keep borrowing costs for companies, households and governments across the euro area favorable during the pandemic. A strong currency can pose a headache for the central bank as it dampens import prices and makes exports from the euro area less competitive. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
IRS sends another batch of $1,400 stimulus checks to 2M Americans
The IRS sent out a sixth batch of stimulus checks this week, delivering payments to another 2 million Americans as part of President Biden's $1.9 trillion American Rescue Plan. The government has urged Americans who do not receive federal benefits nor typically file tax returns to submit one this year in order to provide the IRS with their payment information and receive their stimulus cash. The IRS also sent supplemental "plus-up" payments to taxpayers who were owed more money based on their 2020 tax returns. If you haven't received your payment yet, you can check its status using the IRS' Get My Payment tool. CLICK HERE TO READ MORE ON FOX BUSINESSThe cash payments included in Biden's stimulus bill are the largest yet, with some Americans eligible to receive up to $1,400.
Take the Pedal Off the Metals?
Precious and industrial metals have proven the naysayers wrongJust a few short weeks ago, conventional wisdom called for a continuation in the Treasury route bringing gold, silver, and even copper along for the rideYet that appears to have been the peak of pessimism in this spaceNevertheless, all three of the aforementioned metals have reached cri...Read the full story and get access to the Real Money Pro trading floor. There's no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert. READ ARTICLE NOW Already a subscriber?
Cleveland-Cliffs Looks Ready to Resume Its Uptrend
CLF has tested the rising 50-day moving average line and is well above the rising 200-day moving average line. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and looks like it is poised to cross to the upside for a new buy signal. The slope of the 40-week moving average line is positive and the weekly OBV line looks more constructive than the daily line. In this daily Point and Figure chart of CLF, below, we can see a potential downside price target in the $14-$13 area. In this weekly Point and Figure chart of CLF, below, we can see a possible upside price target in the $33 area.
Lowe's Buys Stainmaster as Latest Private Label Brand
Lowe's acquired the premium and luxury carpet brand Stainmaster, turning its 10-year exclusive brand partnership into a private-label-brand buy. Lowe's (LOW) - Get Report said on Thursday that it acquired the carpet brand Stainmaster as part of its total home strategy. Stainmaster is a Woodbury, N.Y., premium and luxury carpet brand. Lowe's will take on Stainmaster as a private in-house brand, a strategy that's become a trend across industries within the past year. Stainmaster joins Lowe's' family of private brands, alongside names including allen + roth, Project Source and Harbor Breeze, Lowe's senior vice president of global merchandising, Sarah Dodd, said in a statement.
Jim Cramer: "Never Subsidize Losers With Winners" and More Investing Rules
"Never subsidize losers with winners", says Jim Cramer. They keep hoping, keep assuring that a sinking stock is wrong in its direction. And, if you missed the other rules, no worries. Click the links here for rules 1-5: Jim Cramer: "Pigs Get Slaughtered" and Other Investing Rules, 6-10: "Do Your Homework" and Other Investing Rules", and 11-15: Don't Own Too Many Stocks" and More Investing Rules. TheStreet is rolling out all 25 of Jim Cramer's Rules for Investing in the coming weeks.
Dow Inc. Slides Despite First-Quarter Earnings Beat
Dow Inc. (DOW) - Get Report was sliding Thursday even after the chemical maker beat Wall Street's first-quarter earnings expectations. Adjusted earnings came to $1.36 a share, beating the FactSet analyst consensus of $1.14. Sales totaled $11.88 billion, up 22% from a year earlier and exceeding the FactSet consensus of $11.09 billion. Packaging and specialty plastics sales rose 32% to $6.08 billion, beating the FactSet consensus of $5.37 billion. Dow contributed $1 billion to its U.S. pension plans and said it would freeze its U.S. plans for active employees as of Dec. 31, 2023.
Honeycomb CEO Christine Yen Talks Data, Software and the Cloud
What is technology and software without metrics and data? Christine Yen, co-founder and CEO of Honeycomb, knows a thing or two about helping companies get to the bottom of what their data says, what it means, and what it should be telling them to do next – all in real time. TheStreet's Corey Goldman caught up with Christine during Collision 2021 to talk about all things data, software, AI and cloud.
5 Top Gainers for Thursday: Equifax, Teradata, Nikola, Qualtrics
Equifax, Teradata, Nikola, Pool Corp. and Qualtrics are five top gainers for Thursday. Equifax | Increase 17.7%Equifax (EFX) - Get Report surged after the credit-reporting company beat Wall Street's first-quarter earnings expectations and raised its full-year guidance. Teradata | Increase 28.8%Shares of Teradata (TDC) - Get Report leaped after the data-analytics company said it expected first-quarter profit to exceed its guidance. Pool Corp. | Increase 8%Pool Corp. (POOL) - Get Report was jumping after the swimming pool and leisure products company beat Wall Street's first-quarter earnings expectations. Qualtrics International | Increase 24.36%Qualtrics International (XM) - Get Report surged after the customer-survey software company, which went public Jan. 28, announced strong earnings.
How to Trade Southwest, Spirit, American Air After Earnings Reports
Southwest, Spirit and American Airlines all reported earnings. Southwest Airlines (LUV) - Get Report, Spirit Airlines (SAVE) - Get Report and American Airlines (AAL) - Get Report are all fresh off their quarterly reports. Trading Southwest AirlinesDaily chart of Southwest stock. Trading American AirlinesWeekly chart of American Airlines stock. Trading Spirit AirlinesWeekly chart of Spirit Airlines stock.
Charles Schwab Wants To Offer Crypto
Charles Schwab, one of the largest retail brokerages and retirement account providers in the industry, is looking closely at offering cryptocurrency. Should Charles Schwab choose to give all its clients access to cryptocurrency, it would open up the new asset class to its 31.9 million brokerage accounts. "If Charles Schwab, the company, decides to participate in the crypto market, we will be highly competitive, we will be disruptive, and we will be client-oriented," Bettinger said. Don’t miss out on how smart money is playing the crypto game. Find out how hedge funds, family offices and wall street players are positioning themselves for the growing crypto-economy in our premium newsletter - The Crypto Investor.
Stock Market Today With Jim Cramer: Buy Southwest and Chipotle
Jim Cramer discusses the latest stock market news including how to trade Southwest and Chipotle after earnings and why the market is sending false signals Thursday. TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about how to trade Southwest and Chipotle after earnings and why the market is sending false signals Thursday. Chipotle: Buy Or Sell? Want to be alerted before Jim Cramer adds or removes stocks from his portfolio?
Instead of Predicting Death of FAANG, Cramer Says Buy a FAANG Stock
FAANG isn't deadThat's the message that Jim Cramer has for investors. That's often that it all comes down to and this earnings period is more about credit - the belief in management's ability to navigate these waters - than I have ever seen," Cramer wrote in an afternoon column on Wednesday on Real Money. "Exhibit A is Netflix (NFLX) , which last night reported an extremely disappointing sign-ups and then gave you an even more depressing outlook about future growth. That's how people interpreted the quarter," he continued. Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday
HBO Max will debut cheaper version in June, with commercials
It’s about to get easier to afford some version of HBO Max. The regular HBO Max, which launched 10 months ago, costs $15 a month, which is more than its main competitors. AT&T has not said what the ad-supported HBO Max will cost. AT&T said HBO Max and HBO ended 2020 with 61 million subscribers, and the company expects the services to increase to 67 million to 70 million subscribers by the end of this year. AT&T expects HBO Max and HBO subscribers to hit 120 million to 150 million worldwide by the end of 2025, up from the 75 million to 90 million the firm projected in October 2019.
GOP proposes a significantly smaller infrastructure package
By David Morgan | ReutersWASHINGTON – U.S. Senate Republicans on Thursday proposed a $568 billion, five-year infrastructure package as a counter offer to President Joe Biden’s sweeping $2.3 trillion plan, calling their measure a starting point for bipartisan negotiations. The proposal, which falls below an initial Republican target range of $600 billion to $800 billion, focuses narrowly on traditional infrastructure projects including roads, bridges, rail, ports, water systems and on broadband access. But the package, which represents less than one-quarter of the Biden package, has already been dismissed by Democrats in Congress as inadequate. Biden, who this week asked Republicans to offer a counter-proposal by mid-May, proposed a sweeping infrastructure plan that not only includes traditional infrastructure projects but also addresses climate change and expands human services such as elder care. Thursday’s proposal could form the basis of a two-track infrastructure process that would include a smaller bipartisan bill and a larger measure that Democrats could move through Congress without Republican votes.
Source: Biden to propose hike in capital gains taxes
By Jarrett Renshaw and Trevor Hunnicutt | ReutersWASHINGTON – U.S. President Joe Biden will next week propose raising taxes on the wealthy to fund major investments in child care, universal pre-kindergarten education and paid leave for workers, sources familiar with the plan said. Biden will propose raising the marginal income tax rate to 39.6% from 37%, and nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, according to the sources. Wealthy Americans could face an overall capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). Currently, those earning more than $200,000 pay an overall rate of about 23.8% including the Obamacare net investment tax. “If it had a chance of passing, we’d be down 2,000 points,” said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to reports about hiking the capital gains tax.
Las Vegas man pleads guilty to bilking Medicaid out of $13M
As part of his plea, Timothy Harron, 52, agreed to forfeit an airplane, a sports car, a pickup, land and luxury jewelry, federal authorities said. (Getty Images)A Las Vegas man has pleaded guilty to bilking North Carolina Medicaid out of $13 million, prompting the forfeiture of an airplane, a sports car, a pickup, land and luxury jewelry, federal authorities said. A news release from the U.S. Attorney for the Eastern District of North Carolina says Timothy Harron, 52, has pleaded guilty to conspiracy to commit health care fraud, wire fraud, money laundering, and aggravated identity theft. “Latisha Harron has already pleaded guilty to similar charges and is awaiting sentencing.”The DOJ said part of the scam was carried out online from the couple’s corporate office building and a penthouse condominium in Las Vegas. Timothy Harron faces the potential for years in prison.
I-71/75 North closed at Brent Spence Bridge
The Ohio Department of Transportation is reporting that all the northbound lanes of Interstate 75/71 are closed at the Brent Spence Bridge Thursday afternoon. It is unclear what has prompted the closure. Covington Police are blocking the bridge at Fth Street. The Enquirer will update this story when more information is available.
Biden to propose capital gains tax as high as 43.4% for wealthy
Laura Davison and Allyson VersprilleBloombergPresident Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal. Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. Democrats have said current capital gains rates largely help top earners who get their income through investments rather than in the form of wages, resulting in lower tax rates for wealthy people than those they employ. Republicans argue that current capital gains rates encourage saving and promote future economic growth.
Foxconn Finally Admits It Won't Create 13,000 Jobs in Wisconsin
In filings with the state, Foxconn says it now plans to employ 1,454 people and invest about $672 million into its still-under-construction factory in Mount Pleasent, Wisconsin. That's a long way from the $10 billion that the company initially promised to spend building a plant that would have employed 13,000 workers. Foxconn promised to make Wisconsin a hub for the manufacturing of HD television screens and other high-tech products, but the company never explained how it planned to make the math work. Even if all 13,000 promised jobs went to Wisconsinites, the tab would be more than $230,000 per job created, the bureau found. Trump saw the Foxconn deal not only as a way to create jobs, but as proof that reorienting supply chains was a matter of political will rather than economics.
Biden Eyeing Capital Gains Tax as High as 43.4% for Wealthy
(Bloomberg) -- President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal. Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers. QuickTake: How Capital Gains Are Taxed and What Biden Might DoThe White House didn’t immediately respond to a request for comment, and the Treasury Department declined to comment. Story continuesState LeviesFor $1 million earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%.
'Existential crisis of our time': Joe Biden pledges to halve US emissions by 2030 – video
The Biden administration on Thursday pledged to slash US greenhouse gas emissions by 50%-52% from 2005 levels by 2030, a new target it hopes will spur other big emitter countries to raise their ambition to combat climate change. The goal, unveiled at the start of a two-day climate summit hosted by President Joe Biden, comes as the United States seeks to reclaim global leadership in the fight against global warming after former president Donald Trump withdrew the country from international efforts to cut emissions.
New Jersey to bake climate change risk into policies, share costs
"We are ground zero for some of the worst impacts of climate change," said Shawn LaTourette, the state's acting environmental protection commissioner. 5 YEARS AFTER SUPERSTORM SANDYAdvertisementThe report said, "Nearly everything the state spends money on will be impacted by climate change." "For New Jersey to decrease coastal flood risk, all levels of government, and private and nonprofit organizations should share resilience costs," the report read. "As climate change will require an 'all hands on deck" approach, so too must the financial burden be shared beyond state government." A 2018 report by the Union of Concerned Scientists said that over the next 30 years, at least 62,000 New Jersey homes are at risk from chronic flooding.
Signal founder: I hacked police phone-cracking tool Cellebrite
The CEO of the messaging app Signal claims to have hacked the phone-cracking tools used by police in Britain and around the world to extract information from seized devices. In an online post, Moxie Marlinspike, the security researcher who founded Signal in 2013, detailed a series of vulnerabilities in the surveillance devices, made by the Israeli company Cellebrite. Marlinspike has been an outspoken critic of Cellebrite since the company claimed to be able to “break Signal encryption”, a claim the hacker has dismissed. “Cellebrite makes software to automate physically extracting and indexing data from mobile devices,” he says. Cellebrite is committed to protecting the integrity of our customers’ data, and we continually audit and update our software in order to equip our customers with the best digital intelligence solutions available.”
Students say they have been ‘mis-sold’ degrees as they demand blanket tuition fee refunds
Students have told the competitions watchdog that they have been ‘mis-sold’ degrees as they demand blanket tuition fee refunds. The open letter, backed by student leaders at 19 universities across the UK, calls on the regulator to help students asking for blanket fee refunds as a result of Covid-19 disruption. It urges the regulator to "explain to students how they can prove that the ‘quality’ of their course has not met the required standards for full tuition." "Almost all students have experienced a diminished experience in comparison to that which was originally promised and advertised to them." A Universities UK spokeswoman said: "Universities recognise that students have been extremely resilient in the face of disruption this year.
Pearson chairman quits after investor revolt over £7.2m golden hello
The chairman of Pearson has stepped down after a bruising encounter with shareholders over a $9.3m (£7.2m) golden hello handed to new chief executive Andy Bird. The move comes after Mr Taurel came under pressure when a third of Pearson's investors voted against an unusual pay award for Mr Bird when he joined Pearson last year. Mr Taurel, a veteran pharmaceuticals executive based in Brazil, was forced to defend the payout, claiming it was necessary to secure Mr Bird and was recognition of him being an "outstanding candidate". Mr Taurel, 72, said it had long been his intention to step down once a new chief executive was in place and there were "strong foundations" from which the company could grow. "Pearson has made good progress over the past few years in transforming to become a more focused, digital learning company," he added.
Biden will increase the income top tax rate and double rates on stock sales
President Joe Biden is calling to hike the top income tax rate back to where it was before the Trump tax cuts and nearly double capital gains rates for top earners to fund his phase two of his 'human infrastructure' plan.' The president would push the top income tax rate up to 39.6 per cent – where it was before Trump's 2017 tax cuts. President Joe Biden will call to raise the to income tax rate up to 39.6 per centThe hike would have those owners have their capital gains taxed at a 39.6 rate as well. The 39.6% top income tax rate would return to the 2012 level enacted after President Barack Obama signed the American Taxpayer Protection Act. The tax hit investment income on individuals earning more than $200,000 in investment income.
Toyota may offer a 300-hp Corolla hatchback in North America: report
For those unfamiliar, the Toyota GR Yaris sits on its own platform and cranks out 257 horsepower from a turbocharged 1.6L inline-three. That power, plus 265 lb-ft of torque, finds its way to the macadam via a rally-derived all-wheel-drive system and a six-speed manual gearbox. It would not be out of character for the company to add a hot Corolla. Reasons for not homologating the GR Yaris for our market apparently has much to do with strict crash test rules. We will note, however, that a limited run of 300 GR Yaris hatchbacks were offered to the Mexican market and sold out in approximately 24 hours.
Michael Taube: Apology shows Ford is a changed man and deserves a chance to lead
Share this Story: Michael Taube: Apology shows Ford is a changed man and deserves a chance to leadMichael Taube: Apology shows Ford is a changed man and deserves a chance to lead Calls for the premier to resign ignore failings of other leaders and aren't driven by logic Photo by Frank Gunn / Canadian PressArticle content Ontario Premier Doug Ford has had a rough few weeks in office, to put it mildly. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Or get us a new premier.”Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. This newest version, Doug Ford 4.0, could turn out to be the most intriguing of all. Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
New York City Sues ExxonMobil, Shell, BP, and The American Petroleum Institute
City argues deceptive trade practices and greenwashing violate City’s Consumer Protection LawNEW YORK —Today, on Earth Day, Mayor Bill de Blasio and Corporation Counsel James E. Johnson announced the filing of a lawsuit against Exxon, Shell, BP, and the American Petroleum Institute for violating New York City’s Consumer Protection Law through false advertising and deceptive trade practices. “That means taking on some of the biggest polluting corporations for false advertising and greenwashing, in direct violation of our Consumer Protection Laws. The defendants’ deceptive practices are squarely prohibited by New York City law and cannot be allowed to continue.”The lawsuit was filed in the Supreme Court of the State of New York in the County of New York. It calls out defendants for “systematically and intentionally deceiving New Yorkers” in violation of New York City’s Consumer Protection Law (New York City Administrative Code §§ 20-700 et seq.) “Big Oil lied to New York City, so we’ll see them in court.
Environmentalists say AMLO's climate proposal is throwback to the past
Proposals that President López Obrador presented Thursday at this week’s Leaders Summit on Climate are not serious, based on ideology more than reality, and hark back to decades past, according to three environmentalists. In addition, he indicated that hydroelectric plants are being upgraded to reduce the use of fuel oil or coal in electricity production. It’s a matter of organizing the flow of migrants and channeling them humanely and with practical judgment,” López Obrador said. There will be 600,000 barrels of fuel oil per day, but they banned fuel oil as fuel for ships, so I believe that they’re planning to burn it in the thermal power stations as was done in the past,” Chacón said. He warned that the program won’t help to contain migration, as López Obrador claims it will, and questioned its reforestation credentials.
Can a youth 'army' bring digital tools to businesses? The Liberal government is counting on it
Share this Story: Can a youth 'army' bring digital tools to businesses? The Liberal government is counting on itCan a youth 'army' bring digital tools to businesses? Try refreshing your browser, or Can a youth 'army' bring digital tools to businesses? Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
Turkey: Crypto exchange CEO flees country as probe is launched
Turkish crypto exchange Thodex has ceased operations and its CEO has fled the country, after Turkish authorities opened a probe following allegations that hundreds of millions of dollars were stolen. The Turkish crypto exchange Thodex ceased operations and its chief executive officer has fled the nation amid allegations that hundreds of millions of dollars were stolen. A prosecutor in Istanbul has launched an investigation and police are searching the Thodex offices, the state-run Anadolu Agency reported. “From today on, my sole aim is to repay my debt to you,” Ozer said in his statement, addressing exchange users. “The day I repay all my debt, I will return to my country and give myself in to justice.”(Updates with comments from company lawyer, CEO statement throughout.)
South Florida Couple Attempts to Hold Wedding at Mansion They Didn't Own
There was just one problem: The couple didn't own the 16,300-square-foot mansion and didn't have permission to use it. But despite what the invitation inferred, the actual owner, Nathan Finkel, never gave them permission to hold the festivities there. “I have people trespassing on my property,” Finkel told a 911 dispatcher. And they’re sitting at my property right at the front gate right now.”Two officers told Wilson he would have to leave. “A few months later, this guy asked Nathan if he could use Nathan’s backyard for his wedding,” Poliakoff said.
Tesla's Autopilot can 'easily' be used to drive without anyone behind wheel, Consumer Reports warns
Tesla's Autopilot system can "easily" be used to drive the automaker's vehicles without anyone behind the wheel, Consumer Reports said in a new demonstration. Local authorities said it appeared no one was in the driver's seat. Tesla's Autopilot system enables automatic steering, accelerating and braking on roads with lanes, but it does not work in all situations. Tesla vehicles are not capable of fully driving themselves. Consumer Reports suggests fixesFisher urged Tesla to at least use weight-monitoring seat sensors to deactive Autopilot if no one is sitting in the driver's seat.
Soho Gallery Building penthouse with intriguing past sold for $10M
Developer Ara Hovnanian and his wife, the artist Rachel Lee Hovnanian, are in contract to buy a $10 million penthouse at 420 W. Broadway, otherwise known as the Soho Gallery Building. (Bill then sold his half to Karen for $7 million in 2018; she then listed it for $15.5 million.) Well, Ackman bought the penthouse from ad mogul Drew Katz, who earlier that year had warned him about Valeant’s price-gouging issues. The Soho Gallery Building is also where art dealer Leo Castelli once had his famed gallery. see also Bill Ackman can’t escape Valeant lawsuit Bill Ackman may have sold his stake in Valeant Pharmaceuticals...
Senate Republicans unveil $568 billion counter-offer on infrastructure reform
In doing so, the GOP plan takes a more narrow view of infrastructure reform than Biden, who has sought to proffer major investments in other areas of the economy, including schools and elder care, in his package. AdvertisementStory continues below advertisement“This is the largest infrastructure investment Republicans have come forward with,” Capito said at a press conference unveiling their early plan. Republicans recommend recovering the costs of their spending through fees imposed on those who use the infrastructure. Capito said the GOP came to its figures largely through augmenting sums that might normally be set aside for federal transportation and infrastructure spending. AdvertisementStory continues below advertisementBut the Republican counter-offer still sets the parameters for further negotiations between the parties.
Oakland, CA police chief weighs in on Columbus police-involved shooting
Oakland, California Chief of Police Leronne Armstrong weighed in Thursday on the police shooting of 16-year-old Ma'Khia Bryant in Columbus, Ohio. THE DAILY BEAST RIPPED FOR PUBLISHING MISINFORMATION ABOUT COLUMBUS POLICE SHOOTINGLERONNE ARMSTRONG: I think this is a very tragic situation. I think at the end of the day we have to recognize that officers are making split-second decisions that are very difficult, and obviously this a very difficult decision around trying to save someone’s life. But, also recognize that there’s a lot of hurt and pain that we are dealing with in our communities across the country when it comes to officer-involved shootings. CLICK HERE TO WATCH THE FULL INTERVIEW
Two bullish calls on this auto stock
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo bullish calls on this auto stockThe "Halftime Report" traders debate two bullish calls on Ford.
Suze Orman: Here's the best way to pay off debt
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSuze Orman: Here's the best way to pay off debtYou need to determine what type of debt you have before you start paying money back, according to financial expert Suze Orman.
For a limited time only: Earn up to 100,000 points with these two Marriott Bonvoy welcome bonuses
As of April 22, 2021, new cardholders of the Marriott Bonvoy Boundless™ Credit Card and Marriott Bonvoy Bold™ Credit Card can earn limited-time sign-up bonuses of up to 100,000 bonus points. New Marriott Bonvoy Boundless Credit Card members can earn 100,000 Marriott Bonvoy points after spending $3,000 on purchases in the first three months from account opening. New Marriott Bonvoy Bold Credit Card members can earn 50,000 Marriott Bonvoy points after spending $1,000 on purchases in the first three months from account opening. The welcome offer isn't available to applicants who: Already have the Marriott Bonvoy Boundless Credit CardHave or have had the Marriott Bonvoy Bold Credit Card or Marriott Bonvoy™ American Express® Card in the last 30 daysHave opened the Marriott Bonvoy Brilliant™ American Express® Card or Marriott Bonvoy Business™ American Express® Card in the last 90 daysHave received a welcome bonus from the Marriott Bonvoy Brilliant American Express Card or Marriott Bonvoy Business American Express Card in the last 24 months Marriott Bonvoy Bold Credit Card eligibility requirements If you've never had the Marriott Bonvoy Bold Credit Card or any Marriott cards before, there's a good chance you'll be eligible for the welcome bonus. The welcome offer isn't available to applicants who: Already have the Marriott Bonvoy Bold Credit CardHave or have had the Marriott Bonvoy Boundless Credit Card, Marriott Bonvoy™ Premier Credit Card or Marriott Bonvoy American Express Card in the last 30 daysHave opened the Marriott Bonvoy Brilliant American Express Card or Marriott Bonvoy Business American Express Card in the last 90 daysHave received a welcome bonus from the Marriott Bonvoy Brilliant American Express Card or Marriott Bonvoy Business American Express Card in the last 24 monthsEditorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise end
How to invest in this market
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to invest in this marketThe best way to invest in today's market. With traders Kourtney Gibson, Josh Brown, Steve Weiss and Sarat Sethi.
Fundstrat's Tom Lee remains bullish on markets
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFundstrat's Tom Lee remains bullish on marketsFundstrat's Tom Lee believes the market will hit his 4,400 S&P price target sooner than even he expected.
Is it time to be cautious or bullish on stocks?
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs it time to be cautious or bullish on stocks? The 'Halftime Report' traders discuss whether now is the time to get cautious in the face of market warnings from Scott Minerd, Tony Dwyer and others. With traders Kourtney Gibson, Josh Brown, Steve Weiss and Sarat Sethi.
Stocks making the biggest moves midday: AT&T, Dow, Fisker, Southwest Airlines & more
Dow reported earnings of $1.36 per share on revenue of $11.88 billion. Danaher — The life sciences company' shares popped 4% after a better-than-expected quarterly report. Danaher reported earnings of $2.52 per share, well above the $1.75 per share forecasted on Wall Street, according to Refinitiv. The company reported revenue of $ 6.86 billion, higher than the expected $6.26 billion. Southwest Airlines — Shares of Southwest Airlines popped 1.4% in midday trading after the airline said that it's seeing improved leisure travel bookings into the summer months.
Exxon board member Jeff Ubben raises stake, as oil giant invests in carbon capture
Activist investor and newly appointed Exxon board member Jeff Ubben is building his stake in the company on the belief that the oil giant will be integral to the energy transition. On Monday, the company proposed a $100 billion carbon capture project in Houston that would require the support of the industry and the government. In February, Exxon announced plans to invest $3 billion in carbon capture and other emissions-cutting technology. "To use the existing infrastructure and capture the carbon is probably the least expensive and quickest way to net zero," he added. He added that Exxon is the leader in the $2 trillion carbon capture business.
Want to be really successful? You have to learn 2 hard lessons
Many days, I would come to work with him at his freight company and watch as he managed and manufactured. At the dinner table, in the car, doing work around the house — the lessons and teachable moments never stopped. What I had fantasized about — a day off, for a change — immediately turned into just another day of work. It taught me very quickly that even when you're done early, you're never really done. De Sena is also the author of "Spartan Up," "Spartan Fit" and "The Spartan Way."
Red hot real estate markets have turned surprising profits for unintentional property flippers
It is playing out in several U.S. real estate markets as the rising value of stocks and other assets has helped boost the spending power of the wealthy. But if the property is desirable and located in a hot market with low inventory, an unintentional house flipper can turn a sizable profit, according to South Florida real estate broker Devin Kay. Even Kay, the Wydens' real estate broker, was shocked when six days after relisting the property, it sold for the full asking price. Los Angeles real estate agent Spencer Daley turned a surprising profit for himself on a quick flip in Idaho. The supply of real estate inventory on a golf course in the Boise metropolitan area is low, Johns explained.
Here’s what countries pledged on climate change at Biden’s global summit
Leaders of countries like Brazil, Canada and Japan made commitments on Thursday to curb domestic greenhouse gas emissions and tackle climate change during President Joe Biden's climate summit. The pledges come shortly after Biden vowed to reduce U.S. emissions by at least 50% by 2030, more than doubling the country's prior commitment under the 2015 Paris climate agreement. The president convened the summit to urge global cooperation on climate change. In a split from his past attitude toward climate change, Brazil President Jair Bolsonaro vowed to end illegal deforestation in the country by 2030 and achieve carbon neutrality by 2050. "Japan is ready to demonstrate its leadership for worldwide decarbonization," Suga said at the summit.
Santoli’s Thursday market notes: Why the stock market is stalling, and what could jump-start it
Santoli’s Thursday market notes: Why the stock market is stalling, and what could jump-start itPublished Thu, Apr 22 2021 1:03 PM EDT Updated 16 Min Ago
6 steps to avoid running out of money in retirement
But if you're concerned about running out of money in retirement, you're not alone. Here are six steps you can take to avoid running out of money in retirement. Don't withdraw too much or too earlyWithdrawing too early from your retirement savings can have damaging consequences. Remember, the money in your retirement account is for your retirement. A general rule of thumb is to follow the 4% rule, which means that you withdraw 4% of your retirement savings each year (adjusted for inflation).
Whole Foods and an iconic NYC bakery team up to sell decadent cookies
New York (CNN Business) Dessert-loving New Yorkers know all about Levain, a bakery famous for its large, decadent cookies with gooey centers. Before the pandemic, passers-by could often see a line snaking out of the bakery's tiny Upper West Side flagship store. Last week, Whole Foods stores across the country started carrying frozen versions of Levain cookies. The frozen cookies are available in three varieties: Chocolate chip walnut, two chip chocolate chip and dark chocolate chocolate chip. For frozen items, that means making sure that products remain frozen along the supply chain.
UBS tightens lending criteria to coal, Arctic drilling, oil sands
Swiss lender UBS (UBSG.S) said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic oil and tar sands, and would lay out a more detailed climate action plan later this year. read moreAs part of its efforts to get to net zero carbon emissions across its business by 2050, the bank said it would further limit the lending it offers to companies involved in the most-contentious areas of the fossil fuel industry. For companies already involved in coal-fired power generation, UBS said on Thursday it would only lend if they relied on coal for less than 20% of their energy, down from 30% previously. "We're preparing a detailed roadmap to net zero which places climate at the core of our sustainability strategy. It's high on our clients' agendas and we want to do more to help them on this journey," said Suni Harford, President of UBS Asset Management.
Bank of England reveals details of David Cameron lobbying
The Bank of England confirmed it was approached by David Cameron, who lobbied on behalf of Greensill Capital | Neil Hall/EPA-EFELONDON — Former British Prime Minister David Cameron approached the Bank of England directly on several occasions to try to influence its policy on coronavirus-related loans, the monetary institution said Thursday. For example, Cameron insisted to both the Treasury and the Bank that Greensill Capital should be exempt from the requirement that beneficiaries of the scheme be non-financial companies. Greensill Capital was a financial firm that lent money to companies seeking to pay their contractors more quickly. Cameron’s lobbying came in addition to approaches by Greensill himself, the Bank said. Greensill Capital declared insolvency in March 2021.
Republicans roll out $568 billion infrastructure package that Dems have already rejected
The details: The Republican plan is heavy on highway funding, allocating $299 billion for roads and bridges, or more than half of the overall figure. On the transportation side, it also includes $61 billion for transit, $20 billion for rail, $44 billion for airports, $7 billion for water ports and $13 billion for safety agencies including NHTSA, FMCSA and PHMSA. Non-transportation line items include $65 billion for broadband, $35 billion for drinking water and wastewater infrastructure and $14 billion for water storage. The plan also calls for repurposing unused federal funding, which Senate Republicans have said exists because of a surplus of federal money from previous Covid relief bills. It de-emphasizes funding for highways, instead redirecting federal dollars to a massive electric vehicle infrastructure effort, and includes funding for a broad range of items like health care which Republicans have argued fall outside the bounds of traditional infrastructure.
Republicans unveil $568 billion counter proposal to Biden's infrastructure plan
Republicans on Thursday unveiled a $568 billion counter proposal to President Joe Biden's sprawling $2.25 trillion infrastructure package. In total, the package calls for $299 billion for roads and bridges, $65 billion for broadband infrastructure, $61 billion for public transit systems, $35 billion for drinking water and wastewater, $44 billion for airports, $20 billion for rail systems, $17 billion for ports and inland waterways, $14 billion for water storage and $13 billion for safety purposes. Sen. Shelley Moore Capito, R-W.Va., called the plan the most robust infrastructure proposal put forth by Republicans. Additionally, it contains $42 billion for ports and airports, $100 billion to improve public school buildings and $180 billion to be invested in research and development. Earlier this month, an NPR/PBS/Marist poll found that 56 percent of U.S. adults support Biden's infrastructure plan while just 34 percent said they oppose it.
US aid lifts Southwest to Q1 profit, American loses $1.25B
Southwest Chairman and CEO Gary Kelly said Thursday that his airline has seen steady improvement in U.S. leisure-travel sales since mid-February. Dallas-based Southwest Airlines Co. reported net income of $116 million in the first quarter. American Airlines Group Inc. lost $4.32 per share after subtracting federal aid and other temporary items. ADVERTISEMENTAlaska Airlines’ parent reported a loss of $131 million, or $3.51 per share, after excluding federal relief and other temporary items. In trading Thursday morning, Southwest shares rose 1%, while shares of American and Alaska Air Group Inc. fell about 1%.
Wine giant fights South Carolina’s quirky liquor laws
But the tasting rooms are where the state’s liquor laws entered the discussion. Liquor stores in the state can’t buy their product directly instead going through wholesalers. In 1892, South Carolina nearly approved prohibition, but instead gave the state a monopoly on the liquor business. Wholesalers and liquor stores are against the bill because they don’t want Gallo to be able to sell the wine directly after the tastings. That didn’t help liquor stores, said George McLaughlin, who owns three locations and estimates about 40% of his business is Gallo wines.
These EV Startups May Already Be Running Out Of Time
Goldman Sachs downgraded new EV stocks Fisker (FSR) and Lordstown Motors (RIDE), citing platform issues and rising competition. FSR stock fell, while RIDE stock rose. XIn a note to clients Thursday, analyst Mark Delaney lowered Fisker stock to sell from neutral and trimmed the price target to 10 from 15. FSR Stock DowngradeThe rapid transition toward EVs by the likes of General Motors (GM), Ford (F), Volkswagen (VWAGY) and others poses a risk to FSR stock, Delaney said, citing its extended timeline. EV stocks have been hit hard amid a market rotation out of growth stocks, but industry leader Tesla has fared better than most.
Dow Jones Cuts Steep Early Drop, Nasdaq Rises; Stocks Mixed As Jobless Claims Fall
Stocks were mixed near midday Thursday as the Nasdaq edged higher and the Dow Jones Industrial Average erased most of an early 183-point drop. XThe Nasdaq climbed 0.2%, the S&P 500 was flat and the Dow Jones industrials edged 0.2% lower in the stock market today. The Dow Jones index and S&P 500 are coming off all-time highs reached Friday, while the Nasdaq got close to new highs. Dow Jones MoversInside the Dow, Dow Inc. (DOW) lost 5% in heavy trade to undercut its 50-day moving average for the first time since early February. Shares are now more than 20% above a 184.96 buy point of a double-bottom base, which triggers the 20%-25% profit-taking rule.
Coinbase stock falls toward 4th-straight loss, after first non-bullish analyst starts coverage
Analyst Dan Dolev at Mizuho broke ranks with his Wall Street peers, as he became the first to initiate coverage of Coinbase Global Inc. Dolev set a neutral rating for the cryptocurrency exchange, and a stock price target of $285, which was 6.6% below current levels. The stock fell 2.2% in midday trading toward a four-day losing streak. Dolev said that while Coinbase was a "major share gainer," the risk of pricing pressure offsets opportunities surrounding the stock. Coinbase's stock has lost 10.8% this week, while bitcoin has declined 10.6% and the S&P 500 SPX, -0.35% has slipped 0.2%.
Dow Inc., Walgreens Boots share losses lead Dow's 200-point fall
Shares of Dow Inc. and Walgreens Boots are seeing declines Thursday afternoon, sending the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.53% was most recently trading 207 points (0.6%) lower, as shares of Dow Inc. DOW, -5.37% and Walgreens Boots WBA, -2.00% are contributing to the index's intraday decline. Dow Inc.'s shares have declined $3.44 (5.3%) while those of Walgreens Boots have fallen $1.24, or 2.3%, combining for an approximately 31-point drag on the Dow. Other components contributing significantly to the decline include Merck MRK, -1.68% , Amgen Inc. AMGN, -1.38% , and Home Depot HD, -1.27% . Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.
Greta Thunberg on U.S. eliminating fossil-fuel crutch: ‘I don’t believe you’ll actually do this’
Thunberg was called to virtually address a House subcommittee, chaired by the Democrats in the majority, that is reviewing ending fossil-fuel subsidies. “The simple fact, and uncomfortable fact, is that if we are to live up to our promises and commitments in Paris, we have to end fossil fuel subsidies … now,” she said. In 2018, the total revenue of the U.S. oil and gas industry came to about $181 billion. Rep. Ro Khanna of renewables-embracing California, the head of the subcommittee, wants quicker action from Biden to end fossil fuel subsidies as part of a plan to rebuild U.S. infrastructure. “We appreciate that President Biden ran on ending fossil fuel subsidies.
Should I invest an IRA in bitcoin? How do I roll over old assets? These financial pros answer our retirement questions
See: From Gen X to Gen Z — here’s how to make your future retirement betterThe playback for the conversation with Ma and Taveras is here. Here are a few of the takeaways from the discussion:Picking the right investments for your retirement accountsChoosing the proper investments for your retirement accounts can be confusing. Investors may be asked to pick the investments they want in their 401(k) plan or when opening an individual retirement account, and the choices can be paralyzing. For all investments, individuals should look at fund fees. Some individuals might want to consider rolling over their old 401(k) plans, either into their current 401(k) or in an individual retirement account, Ma said.
Reworked deal with Foxconn slashes multibillion-dollar Wisconsin taxpayer subsidy to just $80 million
Tony Evers, a Democrat, who defeated incumbent Republican Scott Walker in 2018“The last deal didn’t work for Wisconsin, and that doesn’t work for me,” Evers said. Under the new deal, Foxconn will qualify for $80 million if it employs 1,454 people with an average wage of $53,875 and invests $676 million by 2026. Under the original deal, when taking into account local government incentives, the taxpayer subsidies for Foxconn totaled more than $4 billion. What exactly Foxconn will make in Wisconsin has changed since it signed the first contract in 2017 under then-Gov. The original contract was tied to Foxconn producing the flat screens it initially said would be made there.
Buy This Shipping-Company Stock. It’s Worth More Than the Sum of Its Parts.
But the warehouse was built, owned, and operated by a division of XPO Logistics (XPO) dubbed GXO Logistics, which is set to be spun off during the second half of 2021. XPO stock has returned 31% a year on average over the past 10 years, including reinvested dividends, more than double the 14% return of the S&P 500 index. She has a Buy rating on XPO stock and a $150 price target, using a valuation multiple below that average to formulate her target price. Oppenheimer senior analyst Scott Schneeberger writes that the GXO business should trade with an enterprise-value-to-Ebitda ratio well into the double digits. Subtract the net debt from the $27 billion potential, and XPO stock could be worth roughly $20 billion, up from about $15 billion today.
Credit Suisse taps shareholders for cash as regulator investigates Archegos losses
Swiss financial regulator Finma also said on Thursday that it had “opened enforcement proceedings” against the bank and will notably investigate “possible shortcomings in risk management” in the two financial scandals. The bank said it had sold 203 million mandatory convertible notes to “a selected group of core shareholders” and institutional investors to shore up its capital base. Credit Suisse CS, -2.94% shares fell 6% on Thursday. The price is now down 34% since early March, just before the revelation of the bank’s Greensill exposure. Read: Credit Suisse executives grilled on Archegos losses.
Lululemon Athletica Is Getting Into Resale. Why an Analyst Says It’s a Brilliant Move.
Lululemon Athletica is tackling the issue by entering the clothing resale market. Earlier this week, Lululemon Athletica (ticker: LULU) announced its own sustainability initiatives, set to launch next month. The program will allow shoppers to trade in Lululemon products in exchange for a Lululemon gift card, with the gently used items coming online for sale in June via recommerce company Thrive. While traditional retailers may not be often associated with clothing resale, the category has come a long way from secondhand and thrift stores that dominated the market in years past, as Barron’s has noted. Plus, data show there is already high demand for Lululemon products in the resale market.
Who Benefits From Biden’s Big Goals for Greenhouse-Gas Emissions
President Joe Biden wants to cut U.S. greenhouse-gas emissions by about half by the end of the decade—a remarkably ambitious goal that could reshape parts of the economy. His goal, unveiled at an Earth Day summit on Thursday, calls for an emissions reduction of 50% to 52% from 2005 levels by 2030. Under Biden’s goals, power generation would produce net zero emissions by 2035. If companies like American Electric Power (AEP) can catch up, their stocks could rise. That is equivalent to the annual emissions from 22 million cars, according to the EPA.
Coinbase stock falls toward 4th-straight loss, after first non-bullish analyst starts coverage
Analyst Dan Dolev at Mizuho broke ranks with his Wall Street peers, as he became the first to initiate coverage of Coinbase Global Inc. Dolev set a neutral rating for the cryptocurrency exchange, and a stock price target of $285, which was 6.6% below current levels. The stock fell 2.2% in midday trading toward a four-day losing streak. Dolev said that while Coinbase was a "major share gainer," the risk of pricing pressure offsets opportunities surrounding the stock. Coinbase's stock has lost 10.8% this week, while bitcoin has declined 10.6% and the S&P 500 SPX, -0.36% has slipped 0.2%.
My coworker wants to sell her house as prices have skyrocketed. The co-signer on her mortgage demands 25%. Can she sell without his permission?
Is there any way she can sell her house, or get this distant relative off her mortgage so she can sell the house? If it’s a distant relative, that requires even more caution. In this case, your coworker should ensure this relative is a co-signer and not also on the deed of the house. First and foremost, she should know the status of this person: co-signer, or co-signer and co-owner? If it’s the former, she could decide to give her distant relative a monetary gift as thanks, with the advice of the real-estate attorney.
Biden has pledged to tax the rich — but precisely how will he do that? Experts consider his options
Lily Batchelder has been nominated as assistant secretary for tax policy in the Treasury Department, he noted. Some estate tax changes are a “done deal” in the eyes of Professor Donald Williamson, executive director of American University’s Kogod Tax Policy Center. An increase in estate tax also means the “step up in basis” is on the chopping block, Williamson said. If an asset like long-held shares in a blue-chip company keeps growing in value, that’s a major shield against a major capital gains tax liability. 96% of the tax savings from a pulled-back lid would go to the highest 20% of households, according a 2018 Tax Policy Center analysis.
Jefferies Is Bullish on Canadian Equities After Canada’s Plan to Taper Bond Purchases
The Bank of Canada on Wednesday became the first major central bank to pare down asset buying that had begun during the Covid-19 pandemic. The central bank announced it would taper its weekly net purchases of government bonds from 4 billion Canadian dollars to C$3 billion. The strategists said that it was “unusual” for the Bank of Canada to have front-run the U.S. Federal Reserve. Meanwhile, Canada’s consumer-price index for March was slightly below expectations at 2.2%, but still the highest since February 2020. Along with announcing the tapering of bond purchases, the central bank on Wednesday implied a hawkish stance on interest rates and indicated that its first rate cut could come in 2022.
Mortgage rates dip below 3% — again
Mortgage rates fell below 3% this week, the first time since the end of February, creating a bigger savings opportunity for homeowners and buyers facing a tough housing market. The rate on the 30-year fixed mortgage fell to 2.97% from 3.04% last week, according to Freddie Mac, a government-sponsored agency that guarantees millions of mortgages. Confidence that the Federal Reserve will keep its benchmark fed funds rate where it is for the foreseeable future, is pushing down interest rates in general. Refinance activity jumped as rates declined, according to the Mortgage Bankers Association (MBA). "Today's mortgage rates give most homebuyers a much needed leg up in grappling with higher home prices, which nearly every housing market across the country is seeing right now," Hale said.
Dow Inc., Walgreens Boots share losses lead Dow's 200-point fall
Shares of Dow Inc. and Walgreens Boots are seeing declines Thursday afternoon, sending the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.51% was most recently trading 207 points (0.6%) lower, as shares of Dow Inc. DOW, -5.37% and Walgreens Boots WBA, -2.00% are contributing to the index's intraday decline. Dow Inc.'s shares have declined $3.44 (5.3%) while those of Walgreens Boots have fallen $1.24, or 2.3%, combining for an approximately 31-point drag on the Dow. Other components contributing significantly to the decline include Merck MRK, -1.68% , Amgen Inc. AMGN, -1.33% , and Home Depot HD, -1.23% . Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.
Turkish crypto founder flees with reported $2 bn
Turkish prosecutors on Thursday launched an investigation after the Istanbul-based founder of a cryptocurrency exchange froze trading and fled the country with a reported $2 billion in investors' assets. The Thodex exchange suspended trading after posting a mysterious message on Wednesday saying it needed five days to deal with an unspecified outside investment. Local media reports said Ozer -- reported to be 27 or 28 years old -- had flown either to Albania or Thailand. "There has been no access to Thodex website for more than 24 hours. The Thodex website re-emerged after going dark on Wednesday to state that "we kindly inform you that the negative news on the internet does not reflect the truth".
Varney on LeBron James' deleted tweet: Biden's America is in 'self-destruct' mode
LEBRON JAMES' SPONSORS, LAKERS, NBA SILENT IN WAKE OF CONTROVERSIAL TWEET TARGETING OHIO COPSTUART VARNEY: We seem to be at war with ourselves. China won't. The vice president won't go to see it; the great humanitarian will, however, do a 'virtual' meeting with the leader of Guatemala next week! Incredibly, LeBron James tweets a picture of the police officer who shot the teenage girl in Ohio with the caption, 'You're next.' But Twitter didn't ban LeBron James.
Digital banking is threatening future of tellers: FICO
With the coronavirus pandemic, digital banking has been on the rise in North America as people continue to try and keep their distance from strangers. FICO’s second-annual Consumer Digital Banking study found that 41% of consumers throughout the U.S. and Canada were more likely to turn to mobile banking applications to open a new account. GEN Z GETTING A LOT OF FINANCIAL ADVICE FROM SOCIAL MEDIA: SURVEYIn a statement that supports its findings, FICO Vice President Liz Lasher said consumers who use digital banking apps are increasingly placing importance on authentication. Twenty-five percent of Americans on average told FICO they’d be willing to ditch their bank if they perceived identity authentication obstacles at their banking institution. Fifty-three percent of American consumers told FICO they have their bank’s app downloaded while 57% of Canadians said the same.
JPMorgan ramps up hiring to combat junior banker burnout
Ticker Security Last Change Change % JPM JPMORGAN CHASE & CO. 148.62 -1.96 -1.30%The bank is also adding more flexibility by extending and encouraging junior bankers to take more personal time offline, and will conduct a quarterly review to evaluate how junior bankers are spending their time. JPMORGAN CEO DIMON SAYS US ECONOMIC POISED FOR ‘EXTREMELY ROBUST’ GROWTH IF GOVERNMENT STIMULUS SPENT 'WISELY'The move comes following the leak of an internal presentation at Goldman Sachs, revealing junior bankers' grueling 100-hour workweeks. CLICK HERE TO READ MORE ON FOX BUSINESSJPMorgan isn't the only bank making moves to support junior bankers. Meanwhile, Jeffries Financial Group is reportedly awarding Peloton and Apple products to junior bankers. A spokesperson for Jeffries Financial Group did not immediately return FOX Business' requests for comment.
Hermès sees sales spike as luxury market rebounds from COVID-19
The strong sales growth proved that wealthy shoppers will splurge on luxury items even during the most uncertain financial times. The growth, the company said, was spurred by Asia and Japan and an uptick in the American market. Global luxury sales online increased nearly 50% to around $59 billion in 2020, compared with around $39.7 in 2019 before the pandemic hit, according to Bain & Co. as reported by Barron's. GET FOX BUSINESS ON THE GO BY CLICKING HERELVMH, which owns brands such as Louis Vuitton and Dior, reported first-quarter revenues up 8% from 2019 before the pandemic hit. More shoppers have shown interest in buying luxury bags as investment pieces long before the pandemic hit.
Existing-home sales hit 7-month low on record prices, tight inventory
Existing-home sales slumped to a seven-month low in March as record prices and tight inventories limited purchases. RED-HOT LUMBER PRICES MAY COOL HOUSING BOOMThe median price for existing homes surged 17% from a year ago to $329,100. The 30-year fixed mortgage rate averaged 3.08% last month, according to Freddie Mac, but remains at historically low levels. Unsold inventory was at a 2.1 month supply, near the historic low since NAR began keeping track of the data in 1982. Prices were up 21% year over year in the Northeast, 16% in both the South and the West and 14% in the Midwest.
Nikola Spikes on Plan for California Hydrogen Filling Stations
Nikola shares jumped after the electric-truck maker agreed to install two hydrogen filling stations at California locations of TravelCenters of America. Nikola (NKLA) - Get Report has signed a deal under which it will open two hydrogen filling stations at California locations of truck-stop franchisor TravelCenters of America. In a statement the companies said they saw the accord as a first step toward building out a nationwide network of hydrogen fuel stations. If the deal closes, the filling stations would open in first-quarter 2023. Nikola Inks Sales, Service Agreement With Rig 360 ChainAt last check Nikola shares were trading almost 20% higher at $12.29.
A 'Bridge' Between Growth and Income
XOM, CVX Stocks quotes in this article: ENBDespite the coronavirus crisis, the S&P 500 has rallied 46% in the last 12 months to new all-time highsAs a result, it has become challenging for income investors to identify reasonably valued stocks with attractive dividend yieldsMaking matters even more difficult, investors have to grapple with the possibility that high-yield stocks may cut thei...
What Airline CEOs Are Telling Jim Cramer About Return of Travel
Southwest (LUV) - Get Report reported earnings, posting an adjusted loss of $1 billion, or $1.72 a share, vs. a loss of $77 million, or 15 cents a share, a year earlier. Analysts polled by FactSet had been expecting a loss of $1.85 a share. "Vaccinations are on the rise, and COVID-19 hospitalizations in the United States are down significantly from their peak in January 2021. As a result, we are experiencing steady weekly improvements in domestic leisure bookings, which began in mid-February 2021." Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday
Jim Cramer Says This Market Is Sending 'False Signals'
Jim Cramer Says This Market Is Sending 'False Signals'The Dow and the S&P were lower in intraday trading on Thursday morning. Jim Cramer explains what he's thinking about when it comes to the markets today and he said that this market is giving "false signals." Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday
Will Arnett wants $8 million for Beverly Hills smart house
“Arrested Development” actor Will Arnett is trying to take advantage of the seller’s market in Southern California. A year after offering up his Beverly Hills Post Office home at $11 million, he just put it back on the market for $8 million. Records show he paid $2.86 million for the property in 2015, and the architectural gem was finished two years later. The steel-framed house sits on about three-quarters of an acre with a zero-edge swimming pool, expansive decking and a dining terrace. (Berlyn Photography)AdvertisementA foyer with a floating staircase leads to living spaces with hardwood floors and walls of glass.
Real estate: Investors grab big Berkeley building, eye life science hub
BERKELEY — An old Berkeley factory that’s been revamped as a mixed-use development will be transformed again: Its new owners seek to turn it into a hub for life sciences firms. Oxford Properties Group and City Center Realty Partners have teamed up to buy Foundry31, a former factory located at 3100 San Pablo Ave. in Berkeley. The building totals 402,700 square feet and the new owners intend to soon convert 100,000 square feet into life sciences offices and laboratory spaces. “Substantially growing our life sciences business represents one of our highest conviction investment strategies and top priorities at Oxford,” said Chad Remis, an executive vice president with Oxford Properties. “The supply of high-quality life sciences space is limited,” Remis said.
Woman arrested after unintentionally shooting, killing another woman in Phoenix, police say
Phoenix police arrested a 21-year-old woman after they say she unintentionally fired at and killed another woman after picking up a handgun in Phoenix on Wednesday. Jackson was taken to the hospital and later died, court documents said. Russell told police the person was about to sit on the gun, so she picked it up. Jackson was taken to the hospital and was pronounced dead at about 2 p.m., according to court documents. The two witnesses also told police that Russell picked up the gun, which they said fired and shot Jackson, court documents said.
Bipartisan child care legislation passes Texas House, advances to Senate
Legislation that has cleared the Texas House aims to bring renewed focus on child care through financial support and increased standards during a year that’s put especially strong financial pressure on working mothers. Texas House passes #HB1792 by @AngieChenButton, part of a fantastic package of child care bills moving through the #TXlege. Both address Texas Rising Star, the state’s system for child care quality rating and improvement assessments. “If Texas is going to invest public money on child care, that child care must be quality,” Kimball said in a statement. “Texas families, Texas children and Texas taxpayers deserve nothing less.”
As the operators of shuttered arts venues hit send, hoping for their share of $16 billion, they got zero
The Small Business Administration oversees the $16 billion portion that will offer grants to concert halls, theaters and museums. The SBA has said it hopes to reopen the portal by the end of the week. (Brian Elledge / Staff Photographer)Dana Schultes, executive producer of Stage West Theatre in Fort Worth, described the process of applying for the SVOG grant as maddening. And then you pull and pull and pull, and you finally get that door open, only to find a new door. We have had to lay off staff, furlough staff, partial-furlough some staff, reduce salaries for staff.
Car insurance nightmare: After wreck, hospitalized patient crashes again, into $700,000 bill for spinal surgery
As in 12 other states, New Jersey law requires drivers to buy personal injury protection, or PIP, coverage to pay medical expenses. The patient: Gottlieb, who was covered for $250,000 in medical costs by his Geico car insurance. He also has an Aetna health insurance policy, which is secondary. What gives: When injuries are the result of auto accidents, car insurance is primarily responsible to negotiate and pay the insurance portion of medical bills. Silver compared Gottlieb’s bills with hundreds of similar claims from two carriers that administer employer-based health insurance nationwide.
Katy Perry, Celine Dion, Carrie Underwood Hint at Big Residencies in Resorts World Las Vegas Video
No concrete details are provided beyond the hotel opening on June 24, but the company clearly has big plans afoot and will be ready to pull the trigger when it deems the time is right; a source tells Variety that the Fall appears likely if all goes according to plan -- on May 1, Clark County, where Las Vegas is located, plans to increase capacity from 50% to 80% and decrease social distancing from six feet to three feet, with Nevada planning to expand to 100% capacity on June 1.
Identity thieves using Oregon state employees’ names for fraudulent unemployment claims
Identity thieves have submitted dozens of fraudulent claims for unemployment benefits using the names of Oregon state employees, another front in thieves’ ongoing effort to capitalize on the surge of jobless claims that accompanied the pandemic. It’s not clear how the fraudsters obtained the state employees’ names but officials say it doesn’t appear to be part of data breach. The weekend shutdown prevented 20,000 self-employed workers from filing their benefits claims until Tuesday, bewildering claimants and delaying their weekly benefits for a day. Willamette Week reported in February that the Oregon State Bar warned its members about possible identity theft after several lawyers had false unemployment claims submitted under their names. That’s how the issue with state employees’ names came to departments’ attention.
Michigan woman, 60, charged with defrauding $430,000 from VA
A third suspect in a scheme to defraud nearly $500,000 from the U.S. Department of Veterans Affairs and the Michigan Department of Treasury has been charged in court, a state official said. Nessel said as fourth habitual offender, Quill faces up to life in prison if she's convicted of any of the charges. He also scheduled a probable cause hearing in Quill's case for next Thursday and a preliminary examination hearing for May 6. Decker's jury trial in Wayne County Circuit Court is scheduled to begin May 28, according to court records. Meanwhile, Flores is scheduled to appear in Wayne County Circuit Court on May 20 for a final conference, records said.
Burned Topiary Park apartments to rise again, one of two complexes planned on the park
Encova Insurance confirmed Thursday that it plans to rebuild apartments overlooking Topiary Park that were destroyed by fire last year. On the south side of the park, the Columbus Downtown Development Corp. is seeking a contractor to build Topiary Park Crossing, an affordable housing complex on the southwest corner of East Town Street and Washington Avenue. The Encova project, called the Residences at Topiary Park, which contained 92 apartments, was nearly finished when it was destroyed by fire May 31. "With views of Topiary Park, the new Topiary Park Crossing will be a wonderful addition to the growing housing options Downtown," she said. Mayor Andrew J. Ginther recently said that he wants CDDC to help bring more affordable housing Downtown.
Home buyers see fewer choices, higher prices in March
Columbus-area home buyers are seeing no relief as the spring selling season slips into high gear. By the end of March, 1,639 Columbus-area homes remained available to buyers in March, less than half the number available a year earlier, according to Columbus Realtors figures released Thursday. The lack of choices is prompting buyers to bid up prices. Homes sold on average for 102% of their last list price. “Consumers are facing much higher home prices, rising mortgage rates, and falling affordability, however, buyers are still actively in the market,” said Lawrence Yun, chief economist with the National Association of Realtors.
Stocks wobble as investors gauge earnings, economy
Stocks wobbled between small gains and losses Thursday as investors continue to focus on company earnings reports and the economic recovery. The S&P 500 was up less than 0.1% as of 11:38 a.m. Eastern. The S&P 500 closed higher Wednesday, ending a two-day slide, but it's still down for the week. Earnings are a key focus for investors as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results. AT&T rose 4.4% after reporting results that beat expectations, helped by higher wireless phone charges as well as the success of its streaming service HBOMax.
Screws tighten for home buyers in March, prices surge 17.2%
Sales of previously occupied U.S. homes fell for the second consecutive month in March because there are so few on the market, and the fierce competition for those that do exist is pushing prices to new highs. Existing home sales fell 3.7% last month from February to a seasonally-adjusted rate of 6.01 million annualized units, the National Association of Realtors said Thursday. Homes typically sold in 18 days last month, a record low. It's less than the 20 days in February, and much faster than the average of 29 days last year at this time. The inventory of unsold homes stood at just 1.07 million at the end of March, only a slight improvement over the record-low 1.03 million homes in February.
US average mortgage rates under 3% for first time since Feb.
McLEAN, Va. (AP) — Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. Mortgage buyer Freddie Mac reported Thursday that the benchmark 30-year home-loan rate declined to 2.97% this week from 3.04% last week. The rate for a 15-year loan, popular among those looking to refinance, dipped to 2.29% from 2.35% the week before. Even with historically low rates, buyers are having a hard time snatching up homes because there are so few for sale. Another report Thursday from the National Association of Realtors showed that sales of existing home sales fell for the second straight month in March because there are so few on the market.
Countering Biden, GOP pitches $568B for infrastructure
The price of the Republican proposal came in at $568 billion over five years, compared to the $2.3 trillion that Biden has called for spending over eight years. To help pay for their plan, the Republicans would rely on user fees, including for electric vehicles, and on redirecting unspent federal dollars. Biden has proposed raising the corporate income tax from 21% to 28% to help pay for his plan, a move the Republican senators rejected. Republican lawmakers have been quick to criticize the infrastructure proposal from Biden. They say just a fraction of the spending would go to traditional infrastructure.
Supreme Court cuts back FTC power to seek ill-gotten gains
WASHINGTON (AP) — A unanimous Supreme Court on Thursday cut back the Federal Trade Commission's authority to recover ill-gotten gains, overturning a nearly $1.3 billion award against a professional race car driver who was convicted of cheating consumers through his payday loan businesses. Justice Stephen Breyer wrote in his opinion for the court that the provision of federal law that the FTC has relied on does not authorize the commission to seek or a federal court to order restitution or disgorgement of profits. But Breyer noted that other parts of the Federal Trade Commission Act could be used to obtain restitution for consumers who have been cheated. “If the Commission believes that authority too cumbersome or otherwise inadequate, it is, of course, free to ask Congress to grant it further remedial authority. Indeed, the Commission has recently asked Congress for that very authority.”
Stocks wobble as investors gauge earnings, economy
Updated 3 times AlertMeStocks wobbled between small gains and losses Thursday as investors continue to focus on company earnings reports and the economic recovery. The S&P 500 was up less than 0.1% as of 11:38 a.m. Eastern. The S&P 500 closed higher Wednesday, ending a two-day slide, but it’s still down for the week. Earnings are a key focus for investors as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results. Investors got a bit of good news on the economy when the Labor Department reported that the number of Americans filing for unemployment fell again last week.
Biden summit draws climate vows from sparring global leaders
The new urgency comes as scientists say that climate change caused by coal plants, car engines and other fossil fuel use is worsening droughts, floods, hurricanes, wildfires and other disasters and that humans are running out of time to stave off catastrophic extremes of global warming. Leaders of smaller states and island nations buffeted by rising seas and worsening hurricanes appealed for aid and fast emissions cuts from world powers. “We are the least contributors to greenhouse gas emissions, but the most affected by climate change,” said Gaston Alfonso Browne, prime minister of Antigua and Barbuda. He called for debt relief and more international assistance to recover from storms and the pandemic to prevent a flow of climate refugees. His people he said, are " teetering on the edge of despair.”After the stream of solemn pledges on fighting climate change, the talk turned to money.
Government not being honest about challenge of reaching net zero, experts warn
The government is not being honest about the extent people will need to change their lives to reach net zero goals, a government adviser on climate change has said. "To get to net zero, every aspect of the way that we emit at the moment needs to be tackled," said David Joffe, the head of carbon budgets at the Climate Change Committee. The UK Government set a new target this week to reduce emissions by 78 per cent by 2035 from a 1990 baseline, in line with the recommendations of the CCC, an independent Government advisory body. It is on track to phase out coal in the electricity system by 2025, and has banned the sale of petrol and diesel cars from 2030. But it is yet to outline exactly how cuts will be achieved in several areas, including home heating, international aviation and agriculture, which is likely to affect diets.
Ethereum price hits new record all-time high amid crypto market ‘perfect storm’
Ethereum (ether) has bucked market trends by hitting a new all-time high on Thursday, reaching above $2,600 for the first time in its history. The gains have pushed ethereum’s market cap above $300 billion, nearly one third that of bitcoin’s. “We are witnessing a perfect storm for ethereum’s momentum,” Sergey Nazarov, co-founder of smart contract network Chainlink, told The Independent. “The thousands of developers building what is now the fastest growing ecosystem in the entire blockchain ecosystem, seem to be building their applications on top of ethereum. “Beyond DeFi, decisions to trial various use cases on ethereum by companies like Visa are likely signalling to the wider market that ethereum is probably here to stay.”
Climate: What are the most-polluting sectors globally?
What sectors across the world are polluting the most and what's the UK's carbon consumption? Sky's Ed Conway has the answers.
Logan Airport deletes Earth Day tweet that drummed up business at parking garage
Boston's Logan International Airport was forced to delete a tweet this week that sent an anti-environmental message using an 'Earth Day' hashtag, which was slammed by critics. The tweet went up on Monday - three days before Earth Day - encouraging people to park their cars at the airport when flying out of Logan International. Additionally, parking at the airport isn't free, drawing questions about whether or not the Logan Airport was trying to drum up business and make a quick buck, which Jonathan Berk commented on. Pictured: The Economy Parking Garage at Logan Airport, which has rates starting at $29'It was clear the post lacked context,' said spokesperson Jennifer Mehigan. 'Last week Logan was -56% from where we were in 2019,' Mehigan said to The Boston Globe.
Richard Nixon's former 'Western White House' relist for $65,000,000 at a13% price hike
Nixon purchased the oceanfront compound at the beginning of his first presidential term in 1969. It was most recently listed in May 2019 for $57.5 million but taken off the market at the beginning of 2020. Earlier this week it was relisted by Rob Giem of Compass for $65 million- a 13% price hike. The property, built in 1926, has a grand total of 15,000 square-feet spread across several buildings on the property. Nixon was forced to resign to avoid impeachment, leaving the White House in 1974 following the Watergate scandal.
IMF's Georgieva calls for 'carbon price floor' to curb emissions
A global carbon tax combined with investments in green infrastructure could raise global GDP and create millions of jobs while fighting climate change, IMF chief Kristalina Georgieva saidAdvertising Read moreWashington (AFP)IMF Managing Director Kristalina Georgieva on Thursday called for adoption of "an international carbon price floor" for large emitters such as the G20 countries in order to limit the rise in global temperatures. "Because of the urgency to act, we propose an international carbon price floor among large emitters, such as the G20," she said. "Focus on a minimum carbon price among a small group of large emitters could facilitate an agreement, covering up to 80 percent of global emissions." Georgieva said any system should be "pragmatic and equitable, with differentiated pricing for countries at different levels of economic development." A carbon tax combined with increased investment in environment-friendly infrastructure could raise global GDP 0.7 percent per-year and create millions of jobs, she said.
Renata Ford ordered to pay nearly $300,000 in legal fees for work on Rob Ford estate
Share this Story: Renata Ford ordered to pay nearly $300,000 in legal fees for work on Rob Ford estateRenata Ford ordered to pay nearly $300,000 in legal fees for work on Rob Ford estate The widow of the former Toronto mayor has been ordered by a court to pay costs arising from the disbursement of his estate and business affairs Photo by Peter J Thompson / Postmedia NewsArticle content Renata Ford, the widow of former Toronto mayor Rob Ford, has been ordered by a court to pay her lawyers nearly $300,000 in overdue legal fees. Try refreshing your browser, or Renata Ford ordered to pay nearly $300,000 in legal fees for work on Rob Ford estate Back to video “The Defendant did not pay the invoices despite request,” Chalmers writes. Aird & Berlis LLP was the firm representing Renata Ford when she launched a lawsuit against Premier Doug Ford, Randal Ford and the Ford family companies, according to the statement of claim. But, by June 2020, Aird & Berlis alleges Renata Ford has not paid them for this legal work and filed court documents seeking the money. The National Post has asked Renata Ford for comment.
Climate Activists Dumped Cow Poop Near the White House. The City Had to Clean It Up.
This morning, to protest Biden’s “bullshit” climate plan, activists with Extinction Rebellion DC dumped over a dozen wheelbarrows of “cow shit” at 17th Street and New York Avenue Northwest, near the White House. When asked for comment, an XRDC spokesperson wrote, “Rebels returned with shovels to clean up, which was the plan, but the city had already begun. Biden's climate change proposal is the most progressive proposal in US history, and steals a lot of ideas from the GND. Are these folks aware that Biden's climate plan is literally *double* the reduction dictated by the Paris Accords? ???? https://t.co/1whZgPYFTk — Rodster?? (@clantro) April 22, 2021And the National Farmer’s Union pointed this out:As cow poop experts, we would just like to point out that that is…not cow poop.
Biden announces goal of cutting greenhouse gas emissions by half
Calling on the 40 other gathered leaders, Mr. Biden said no nation alone can solve the crisis. Mr. Biden said the climate crisis was a moral and economic imperative, "but also a moment of extraordinary possibilities." "This plan represents our vision for financing the global climate response in a coordinated way," Mr. Biden said. Mr. Biden also called on the private sector to do more to finance climate mitigation and innovation. Mr. Biden said the financial sector needs to invest more in innovative climate technologies and bring an end to fossil fuel subsidies.
Celebrity stylist sells Cali-inspired Greenpoint home for $5M
Douglas Elliman The 1850s-era home is a spacious 4,540 square feet. Douglas Elliman One of the home's three bedrooms (reconfigurable per the new owner's wishes). Douglas Elliman There's a fireplace at the ready. Douglas Elliman Another one of the three bedrooms for the buyer to lay their head. The listing broker was Patricia Vance of Douglas Elliman.
‘The Price Is Right’ Shocks Viewers With Historic Double Lucky Move
The Price Is Right stunned viewers yesterday with a historic moment. Yesterday’s Price Is Right was one for the books thanks to two competitors: Kiara Thomas and Jack Zager. Zager, who competed during The Price Is Right at Night, spun 40 cents and 60 cents on the Big Wheel, taking home that $1,000 bonus. Yesterday’s shows literally went down in history, marking the first time ever in The Price Is Right that contestants took home a $26,000 Big Wheel bonus during the same day. The Price Is Right airs weekdays at 11/10c on CBS.
Empty NYC office floors are taking on new life as artist studios
Millions of square feet of office and retail space in the city remain empty. She started a program dubbed Storefront Startup to support small minority-run businesses by providing them with pop-up retail stores. The program provides space to artists through a curated residency program at 4 World Trade Center. Durst’s ChaShaMa gala has provided spaces in office towers to some 30,000 artists. Cory Silverstein (inset) opened 4 World Trade to Brooklyn artists like Natalie Birinyi (right).
Biden’s economy shows strength, but recovery is far from complete
But at the same time, Biden’s team prioritized vaccinations and worked quickly with Congress to enact a $1.9 trillion stimulus package to provide ample support to the economy. Story continues below advertisementMcClure, who doesn’t like to get political, described the economic shift like this: “There is more optimism now. I’ll put it that way.”AdvertisementThe White House is quick to emphasize the recovery is still a work in progress and has been deeply unequal. Advertisement“It’s really the stimulus that’s made the difference in the economic recovery,” said Nela Richardson, chief economist at payroll processor ADP. Economists anticipate more months of strong job growth to come as businesses see more customers returning.
Test drive: The Cadillac Escalade's hands-free Super Cruise lives up to its name
The latest version of General Motors’ Super Cruise highway driving aid is now available in the 2021 Cadillac Escalade. It adds a lane-change feature to the original lane-centering adaptive cruise control that first launched with the 2017 Cadillac CT6. I’ve used previous versions of Super Cruise in the CT6 and Bolt EUV crossover, but was a little hesitant to try it in something as large as an Escalade. FOX NEWS CAR REVIEWS: 2022 CHEVROLET BOLT EUVApparently, it doesn’t, because Super Cruise worked flawlessly in the Escalade and better than the last Autopilot-equipped Tesla I tested on the same roads. It took me about five minutes to get comfortable with it and went for miles and miles without a glitch.
Union Pacific CEO Lance Fritz on outlook, earnings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnion Pacific CEO Lance Fritz on outlook, earningsUnion Pacific CEO Lance Fritz joins CNBC's "Squawk on the Street" team to break down the company's first quarter earnings results and outlook.
Full interview with Dow CEO Jim Fitterling on Q1 earnings beat, outlook and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with Dow CEO Jim Fitterling on Q1 earnings beat, outlook and moreDow CEO joined "Squawk on the Street" to discuss the company's beat on both lines, expectations that vaccine distribution will benefit business in the second quarter, yearly outlook and more.
Biden looks to get tough on Big Tech — Here's what may happen
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden looks to get tough on Big Tech — Here's what may happenCNBC's "TechCheck" team discusses how the Biden administration may take on Big Tech with Nilay Patel, CNBC contributor and editor-in-chief of The Verge.
Biden pledges to slash U.S. greenhouse gas emissions in half by 2030
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden pledges to slash U.S. greenhouse gas emissions in half by 2030President Biden is pledging to reduce U.S. greenhouse gas emissions by at least 50 percent by 2030, in the latest push by the administration to aggressively combat climate change. The target more than doubles the country's prior commitment under the 2015 Paris Climate Agreement. The announcement comes before the president hosts a closely watched climate summit on Thursday's Earth Day, with world leaders from countries like China and India.
Boeing still working on fix for 106 grounded 737 Max planes, FAA says
A Boeing 737 MAX 7 aircraft lands during an evaluation flight at Boeing Field in Seattle, Washington, September 30, 2020. The Federal Aviation Administration (FAA) on Thursday said 106 Boeing 737 Max airplanes have been grounded worldwide by an electrical issue and said the U.S. planemaker is still working on a fix. Boeing disclosed an electrical power system issue on April 7 and recommended operators temporarily remove these airplanes from service. The top three U.S. 737 Max operators - Southwest Airlines, American Airlines and United Airlines - removed more than 60 jets from service following the notice from Boeing. The FAA said it "verified all operators with affected airplanes have voluntarily taken those aircraft out of service."
Charter Holdings CEO on outlook for retail's reopening, hiring
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharter Holdings CEO on outlook for retail's reopening, hiringCNBC's "Squawk on the Street" team discusses malls reopening and re-hiring with Ray Washburne, Charter Holdings CEO.
Here's how much money you'd have if you bought $1,000 worth of Netflix stock in 2011
Over the past decade, few stocks have delivered as much return on investment as Netflix. A $1,000 investment in Netflix on April 20, 2011, would be worth $15,252 as of Tuesday, a gain of 1,425%. It's nearly double Google parent Alphabet's 767% growth rate since 2011 and even outpaces Apple's 1,134% growth over the past decade, during which a $1,000 investment would have turned into $12,339. In 2011, Netflix had a market cap of $13.4 billion. And while past results are no indication of future performance, Netflix's first-mover advantage and entrenchment into culture over the past decade has put it in a strong position, according to Ives.
Companies’ bottom lines are getting a boost from the reopening, but stocks don’t seem to care
Today's crop of earnings reports are chock-full of companies reporting earnings above expectations and, most importantly, raising guidance. Another large industrial, iron ore mining company Cleveland-Cliffs, raised full-year EBIDTA (cash flow), also on expectations of higher prices. Whirlpool reported net sales growth of 24%, beat earnings expectations by more than 30%, raised full-year guidance by 18%, raised the dividend, and announced an increase in share buybacks. Horton reported a significant earnings beat and raised full-year revenue guidance. In health care, HCA Healthcare raised full-year guidance, joining other providers UnitedHealth and Tenet Healthcare.
Planning a trip? Last year's travel voucher could be about to expire
In 2020, when the world suddenly ground to a halt, most people postponed or canceled all of their plans due to the coronavirus crisis. Many were issued vouchers or credits good for a future date. More from Personal Finance:Here’s where Americans are planning to go this summer38% of Americans would give up sex to travel againVacations may bounce back this yearFewer received partial refunds, although it varied by the type of purchase. About 35% who canceled short-term home rentals got some, but not all, of their money back. Less than a quarter of adults were partially refunded for canceled flights, sporting events, concerts, theater tickets or hotel stays, Bankrate found.
We asked more than 500 Congress members about student loan forgiveness—here's what we found
With so many options on the table, where do members of Congress stand on student loan forgiveness? CNBC Make It emailed members of Congress from every state to ask which proposals around student loan forgiveness they supported. Here's how it breaks down: 10 members of Congress, all Republican, do not support a flat rate of student loan forgiveness. 'Student loan debt is crushing millions'About 36 million borrowers would have their student loan debt wiped out if the U.S. government cancels $50,000 in student loan debt, according to data from the U.S. Department of Education shared by Sen. Elizabeth Warren, D-Mass. Private student loans are not included in the any of student loan forgiveness proposals put forward so far.
Here’s why Wall Street analysts are bullish on Honeywell ahead of Friday's earnings
Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York. An industrial stock that has picked up steam in recent weeks is set to report earnings on Friday with a chance to back up recent bullish calls from Wall Street analysts. The stock has seen a flurry of price target hikes in recent weeks and an upgrade from Deutsche Bank. Honeywell now has buy ratings from 60% of the analysts covering the stock, according to FactSet. That has pushed the stock price just above the FactSet average price target of roughly $229 per share, but some of the more recent notes show much higher upside.
Goldman has a playbook for trading the economic comeback and subsequent slowdown
People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, March 19, 2021. Goldman Sachs has an investor playbook for when the U.S. economy hits peak economic growth from the reopening later this quarter, advising clients to rotate from domestic plays into stocks more linked to a trailing global comeback.
New batch of $1,400 stimulus checks includes more payments for people who recently filed their tax returns
kate_sept2004 | E+ | Getty ImagesA sixth batch of $1,400 stimulus checks has gone out, bringing the total number of payments sent to date to about 161 million. About 700,000 stimulus checks representing more than $1.3 billion were issued to those people in this round after the IRS processed their 2020 tax returns. That request applies to the recent $1,400 payments, as well as the first two stimulus checks for which people also may be eligible. More 'plus-up' paymentsThe new round of stimulus checks also included additional 'plus-up' payments to those who are eligible for more money now that their 2020 tax returns have been processed. Money for federal beneficiariesThe sixth batch of stimulus checks also included about 600,000 payments to Social Security and Supplemental Security Income beneficiaries, including those with foreign addresses.
WRAPUP Vaccines put U.S. airlines on runway to recovery
An American Airlines passenger jet glides in under the moon as it lands at LaGuardia airport in New York, New York, August 28, 2012. REUTERS/Eduardo MunozU.S. carriers American Airlines (AAL.O) and Southwest Airlines (LUV.N) on Thursday signaled a slower cash burn and pointed to a rebound in summer bookings as accelerated COVID-19 vaccinations make more people confident about traveling again. American, on the other hand, said average daily cash burn slowed to $4 million in March, while its overall average daily cash burn rate was about $27 million in the first quarter. Southwest shares were up 1%, while American Airlines stock was down marginally. "I know (the Biden administration) understands the importance of restoring international travel to the economy," American Airlines Chief Executive Officer Doug Parker said.
9-0 Supreme Court ruling guts FTC's ability to seek redress for consumers
Congressional response: FTC leaders had already warned that consumers would be the ones to suffer if the Supreme Court rolled back the agency’s ability to seek monetary penalties. Congress is already considering legislation to remedy the Supreme Court decision. The Supreme Court case was also a key topic at an FTC oversight hearing in the Senate this week. A trial court ordered AMG and Tucker to pay back $1.3 billion in restitution to consumers, an order upheld on appeal. AMG then asked the Supreme Court justices to weigh in on the FTC’s authority.
Supreme Court cuts back FTC power to seek ill-gotten gains
WASHINGTON (AP) — A unanimous Supreme Court on Thursday cut back the Federal Trade Commission’s authority to recover ill-gotten gains, overturning a nearly $1.3 billion award against a professional race car driver who was convicted of cheating consumers through his payday loan businesses. Justice Stephen Breyer wrote in his opinion for the court that the provision of federal law that the FTC has relied on does not authorize the commission to seek or a federal court to order restitution or disgorgement of profits. But Breyer noted that other parts of the Federal Trade Commission Act could be used to obtain restitution for consumers who have been cheated. “If the Commission believes that authority too cumbersome or otherwise inadequate, it is, of course, free to ask Congress to grant it further remedial authority. In a separate criminal case, Tucker was sentenced in 2018 to more than 16 years in prison on fraud and other charges.
A philanthropic drive to aid Black women is gaining momentum
Collectively, they’re seeking to increase funding to organizations for Black girls and feminists and to enhance economic opportunities for Black women. ADVERTISEMENTStatistics show that organizations for Black women have been disproportionately neglected by foundations. Its first campaign is 1Billion4BlackGirls, which calls for $1 billion in contributions earmarked for Black girls over the next decade. Separately, Goldman Sachs in March committed $10 billion over the next decade to an initiative to improve the lives of 1 million Black women by 2030. Goldman Sachs is holding “listening tours” with Black women before making any investments or donations, said Asahi Pompey, head of the bank’s foundation.
Governor: state needs to step up outreach as demand ebbs
Governor: state needs to step up outreach as demand ebbsPROVIDENCE, R.I. (AP) — Rhode Island’s governor says the state needs to step up its outreach as demand for the vaccine is starting to slow. The Democratic governor has said he hopes to have 70% of the state’s adult population vaccinated by next month. As of Wednesday, more than half of Rhode Island residents 16 and older had received at least one dose. ADVERTISEMENT___THEATER SEASON CANCELLEDA prominent Rhode Island theater is cancelling its summer season because of uncertainty around pandemic-related restrictions. Theatre-by-the-Sea in South Kingstown said Wednesday that most shows will be moved to the 2022 summer season and any tickets and subscription packages purchased will automatically be transferred.
Ontario premier’s apologizes after retracting restrictions
Ontario Premier Doug Ford, left, receives the Astrazeneca-Oxford COVID-19 vaccine from pharmacist Anmol Soor at Shoppers Drug Mart during the COVID-19 pandemic in Toronto on Friday, April 9, 2021. (Nathan Denette/The Canadian Press via AP)Ontario Premier Doug Ford, left, receives the Astrazeneca-Oxford COVID-19 vaccine from pharmacist Anmol Soor at Shoppers Drug Mart during the COVID-19 pandemic in Toronto on Friday, April 9, 2021. (Nathan Denette/The Canadian Press via AP)TORONTO (AP) — Ontario Premier Doug Ford apologized Thursday for a failed attempt to ban playgrounds and allow police to stop and question people who were not in their homes — measures that created a backlash from police forces, health officials and the public. The leader of Canada’s most populous province, in his first public appearance since announcing the restrictions, said his government had moved too fast with the measures. ADVERTISEMENTThe pandemic restrictions Ford’s government announced on April 16 immediately ran into opposition.
US average mortgage rates under 3% for first time since Feb.
US average mortgage rates under 3% for first time since Feb. FILE - In this Thursday, Feb. 18, 2021 file photo, a new home is for sale in Madison, Ga. Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. (AP Photo/John Bazemore, File)FILE - In this Thursday, Feb. 18, 2021 file photo, a new home is for sale in Madison, Ga. Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. (AP Photo/John Bazemore, File)McLEAN, Va. (AP) — Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. Mortgage buyer Freddie Mac reported Thursday that the benchmark 30-year home-loan rate declined to 2.97% this week from 3.04% last week.
Chicago seeks developer to open city’s first casino by 2025
Starting Thursday, April 22, 2021, city officials are officially seeking bids from companies interested in what's being billed as a "world-class" resort scheduled to open by 2025. Starting Thursday, April 22, 2021, city officials are officially seeking bids from companies interested in what's being billed as a "world-class" resort scheduled to open by 2025. (Mark Welsh/Daily Herald via AP, File)CHICAGO (AP) — Chicago is laying its cards on the table and officially seeking bids to build the first casino in the nation’s third-largest city. City leaders want a “world-class” resort that’ll draw locals and tourists while boosting Chicago’s finances, but several steps remain. Tony Evers approved plans last month for a Ho-Chunk Nation casino in Beloit, near Illinois’ border and about a 90-minute drive from Chicago.
Nikola Stock Pops As Truck Maker Starts To Deliver On Key Part Of Strategy
Nikola stock jumped. It expects to deliver the first all-electric Tre EVs to customers in Q4, with a fuel-cell Tre following in 2023. A Clean-Energy Technology Elon Musk Hates May Be Near A Big BreakthroughNikola StockShares jumped 22.4% to 12.58 in Thursday's stock market trading. Also on Thursday, XL Fleet (XL) announced a pact with Dickinson Fleet Services, which will service XL customers who use its hybrid and plug-in hybrid electric drive systems. XL Fleet stock rose 2.5% Thursday, but has also slumped sharply from its 52-week high.
Are Vacations Back? Royal Caribbean Cruises Earns 83 RS Rating
On Thursday, Royal Caribbean Cruises (RCL) cleared an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before. XWhen looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes. Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 in the early stages of their moves. While EPS growth decreased in the company's most recent performance report from 0% to -453%, the top line rose -99%, up from -101% in the prior report.
Opinion: Why you should plan to leave money to your kids
But bear with me while I tell you why you should want to be able to leave money to them. This is the result you want, and it would indeed let you leave money to your kids. Before I briefly discuss the idea of “I want to die broke,” here’s my bottom-line advice when you’re planning retirement withdrawals. Even then, I think your best bet is likely to be planning to have some money left over to leave to the kids. And early next month, I’ll write about how to safely take more from your retirement portfolio.
Opinion: Here’s why the S&P 500’s outlook keeps looking bullish
So we have further criteria that must be satisfied in order to generate what we call the McMillan Volatility Band (MVB) sell signal. VIX VIX, -2.11% is in a downtrend, and that is just as important as SPX being in an uptrend. That is a precursor to a “classic” mBB sell signal, but it will take further confirmation to create an MVB sell signal. A “classic” mBB sell signal has occurred, so we want to take action on the confirming McMillan Volatility Band (MVB) sell signal. New recommendation: Breadth sell signalIn the commentary above, it was noted that both breadth oscillators are on sell signals.
ETF Wrap: Let’s get away from it all
Even as U.S. investors wait for news about a Bitcoin ETF, three ethereum ETFs launched this week in Canada: the Purpose Ether ETF CA:ETHH, CI Global Asset Management’s CI Galaxy Ethereum ETF CA:ETHX, and Evolve ETFs’ Ether ETF CA:ETHR. “The (utilities) sector has historically seen healthy gains when yielding more than 1% point above the 10-year Treasury yield,” NDR analysts wrote. The Utilities Select Sector SPDR Fund XLU, +0.09% is far and away the biggest utility ETF, with about $12.6 billion in assets. It’s followed by the Vanguard Utilities ETF, VPU, +0.18% which charges a few basis points less — 0.09%, as opposed to 0.12%. “Existing logistics assets appear to provide the company a meaningful head start in exploring hydrogen potential.”The ETF with the biggest holding of the stock isn’t a traditional utility ETF at all: VanEck Vectors Uranium+Nuclear Energy NLR, -0.16% ETF, at 6.4%, followed by the John Hancock Multifactor Utilities ETF JHMU, -0.64% , at 3.9%, according to FactSet data.
Global silver demand poised to rise this year; prices could jump more than 30%: report
Global silver demand suffered a decline last year on the back of pandemic-related restrictions to economic activity, but is expected to climb this year, contributing to a rise in prices for the metal that may top 30%, according to a report from The Silver Institute released Thursday. That was the highest average silver price since 2013. A “physical improvement in investor interest” contributed to the 2020 price climb, Philip Newman, managing director at Metals Focus in London, told MarketWatch. Still, a collapse in Indian silver investment was a notable surprise, Newman said. This year “will just remain a strong year,” with the 150 million ounces in ETP investment growth “still pretty sizable.”
Sell Fisker Stock Now. Goldman Sachs Explains Why.
One analyst sees more downside because competition in the EV space is ramping up. Goldman Sachs analyst Mark Delaney downgraded Fisker (ticker: FSR) stock to Sell from Hold. Fisker stock is off 4.42% to $14.48 in Thursday morning trading. Fisker stock has had a brutal few weeks. He sees competition increasing.
Opinion: Fall of a ‘value’ icon could be good for ‘value’
De Vaulx, a near-legendary figure among conservative, so-called ‘value’ investors, finally threw in the towel on IVA World a couple of months ago. The experts still debate whether ‘value’ stocks typically produce higher overall returns over the long-term than more expensive, ‘growth’ stocks. Maybe value is likely to beat growth if you buy value stocks when they are wildly out of fashion and particularly cheap. So in early 2000, when everyone wanted growth stocks and nobody wanted value, it turned out to be an excellent moment to sell down your Growth fund and move money into your Value fund. The swing in fashion became so extreme that one of the best Value investors in the business gave up.
Los Angeles Home Sales Log Best Start to the Year Since 2004
A swath of affluent greater Los Angeles, including Beverly Hills and other pricey West Side neighborhoods, saw its highest first quarter sales since at least 2004, according to new figures on Thursday. The figures cover the most affluent stretch of the county from downtown Los Angeles, north into Bel Air and west to Malibu. Trends playing out in the wider U.S. market, including a rush for second-home destinations, have triggered lopsided activity in Los Angeles County. From Penta: Classic Motorcycles Worth CollectingThe median price of a single-family home Malibu and Malibu Beach hit $4.25 million—a 49% increase over a year ago, according to the report. Even condos are benefiting from the rush, as buyers—homing in on larger units—drove the median price to $1.447 million in the first quarter, nearly double the $795,500 logged a year ago.
ETF Wrap: Let’s get away from it all
Even as U.S. investors wait for news about a Bitcoin ETF, three ethereum ETFs launched this week in Canada: the Purpose Ether ETF CA:ETHH, CI Global Asset Management’s CI Galaxy Ethereum ETF CA:ETHX, and Evolve ETFs’ Ether ETF CA:ETHR. “The (utilities) sector has historically seen healthy gains when yielding more than 1% point above the 10-year Treasury yield,” NDR analysts wrote. The Utilities Select Sector SPDR Fund XLU, +0.09% is far and away the biggest utility ETF, with about $12.6 billion in assets. It’s followed by the Vanguard Utilities ETF, VPU, +0.08% which charges a few basis points less — 0.09%, as opposed to 0.12%. “Existing logistics assets appear to provide the company a meaningful head start in exploring hydrogen potential.”The ETF with the biggest holding of the stock isn’t a traditional utility ETF at all: VanEck Vectors Uranium+Nuclear Energy NLR, -0.16% ETF, at 6.4%, followed by the John Hancock Multifactor Utilities ETF JHMU, -0.64% , at 3.9%, according to FactSet data.
Global silver demand poised to rise this year; prices could jump more than 30%: report
Global silver demand suffered a decline last year on the back of pandemic-related restrictions to economic activity, but is expected to climb this year, contributing to a rise in prices for the metal that may top 30%, according to a report from The Silver Institute released Thursday. That was the highest average silver price since 2013. A “physical improvement in investor interest” contributed to the 2020 price climb, Philip Newman, managing director at Metals Focus in London, told MarketWatch. Still, a collapse in Indian silver investment was a notable surprise, Newman said. This year “will just remain a strong year,” with the 150 million ounces in ETP investment growth “still pretty sizable.”
Teradata Soars on Hopes for Its Cloud Business. Analysts Aren’t Fully Convinced.
This time, Teradata (ticker: TDC) didn’t wait for its regularly scheduled earnings date of May 6—the company pre-announced another blowout quarter. The company now expects to report March quarter revenue comparable to the $495 million reported in the 2020 fourth quarter, well ahead of the Street consensus at $449 million. Teradata sees GAAP earnings for the quarter between 45 cents and 47 cents a share, ahead of its previous guidance range of 11 cents to 13 cents. The company now projects adjusted earnings of 67 cents to 69 cents a share, revised from a previous forecast of 38 cents to 40 cents. Teradata said public-cloud annual recurring revenue growth should be up between $16 million and $18 million, ahead of its previous forecast of $10 million to $15 million.
China’s Xi says world’s largest polluter will phase down coal consumption
China vows to start phasing down coal consumption from the 2026-2030 period as part of its efforts to reduce greenhouse gas emissions, President Xi Jinping told the U.S.-led Climate Leaders’ Summit Thursday. “We will strictly limit the increase in coal consumption over the 14th five-year plan period (2021-2025) and phase it down in the 15th five-year plan period (2026-2030),” Xi told the virtual gathering. China is the largest coal consumer and continues to approve new coal projects. In fact, Chinese coal consumption is poised to hit a record this year, the International Energy Agency said earlier this month, a bump up that contradicts the view held by some climate change and energy experts that coal burning in the world’s second-biggest economy and largest polluter had already peaked. China pledged last year that it would bring its overall emissions to a peak before 2030 and hit net zero emissions by 2060.
Zombies, robots and big unknowns lurk as the U.S. economy recovers from pandemic
The U.S. economy is going through a unprecedented period after having been shut down by government decree. In the immortal words of former Secretary of Defense Donald Rumsfeld, there are a lot of “known unknowns” out there. “Mankind for 5,000 years has been searching for three indicators that tell you how the economy is going to go south. Jerry Nickelsburg, faculty director of the UCLA Anderson Forecast said he thinks there is a lot of “wishful thinking” going on about office work. And these remote workers won’t be in line for raises as companies won’t have to compete for their services, he addedWhether business travel stays weak is another unknown.
Mortgage rates drop below 3% again — offering opportunities to buyers and homeowners
Mortgage rates slid below the 3% mark once again, giving both existing homeowners and prospective buyers the chance to lock in historically low interest rates in a competitive housing market. The 15-year fixed-rate mortgage, meanwhile, fell six basis points to an average of 2.29%. Mortgage rates roughly follow the direction of long-term bond yields, particular the 10-year Treasury note BX:TMUBMUSD10Y. The decline in rates offers another lifeline, particularly to homeowners who were unable to take advantage of last year’s record-breaking low mortgage rates. “Low and declining mortgage rates provide these homeowners the opportunity to reduce their monthly payment and improve their financial position,” Khater said in this week’s mortgage rates report.
Euro little fazed as ECB’s Lagarde dismisses taper talk
Some analysts have deemed the ECB’s purchases so far as disappointing, with a pickup in gross purchases offset by increased redemptions. Lagarde urged observers not to focus too much on weekly data, though economist Jack-Allen Reynolds of Capital Economics said that weekly measures do show a pickup. The euro is up 2.5% versus the dollar so far this month as a broader dollar rebound in the first quarter lost steam. Lagarde, asked about the euro’s level, emphasized that the ECB doesn’t target the exchange rate but does follow it closely as it’s movements affect the inflation outlook. A stronger euro weighs on prices, making it more difficult to achieve the ECB’s target for inflation at near but just below 2%.
Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
Be skeptical of fads and fashions and operate within your circle of competence. Is the U.S. housing market heading for a crash? Here’s what the experts saySearches for the phrase, 'When is the housing market going to crash?' are up 2,450% over the past month. See full story.
Oracle Stock Has Rallied 25% in Two Months. Why One Analyst Sees Higher Highs.
The enterprise software giant has rallied 25% since it was featured on the cover of the Feb. 22 edition of Barron’s. As that piece argued, Oracle is getting traction in its shift toward the cloud across its primary business lines—database software and enterprise applications—while making progress with its nascent public cloud unit, Oracle Cloud. “We think the framework for growth acceleration is strengthening as we exit the pandemic,” driven by both Oracle Cloud and Autonomous Database, a cloud-based version of the flagship Oracle database software, he notes. On database software, Wood writes, the company “remains confident on demand trends,” with growing traction for Cloud@Customer. On Oracle Cloud, Wood writes that the company is seeing growth not only for Oracle software workloads, but also for non-Oracle applications like video communications.
Opinion: 8 steps to repair your finances (and life) as we emerge from the pandemic
With all this in mind, what does it mean to invest in financial health, and where do we start? Workplace benefits and financial professionals can also help you build financial literacy, find useful resources, and avoid common pitfalls. A collaborative, holistic approach to financial wellness can open the door to new ideas as well as greater support. Financial wellness is truly interconnected with every aspect of our lives, touching our mental and physical wellbeing, families, and communities. Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of the information or data from sources outside of Morgan Stanley.
Euro little fazed as ECB’s Lagarde dismisses taper talk
Some analysts have deemed the ECB’s purchases so far as disappointing, with a pickup in gross purchases offset by increased redemptions. Lagarde urged observers not to focus too much on weekly data, though economist Jack-Allen Reynolds of Capital Economics said that weekly measures do show a pickup. The euro is up 2.5% versus the dollar so far this month as a broader dollar rebound in the first quarter lost steam. Lagarde, asked about the euro’s level, emphasized that the ECB doesn’t target the exchange rate but does follow it closely as it’s movements affect the inflation outlook. A stronger euro weighs on prices, making it more difficult to achieve the ECB’s target for inflation at near but just below 2%.
Whirlpool CFO talks Q1 earnings, consumer trends amid pandemic
Yahoo Finance Video--Story by Brooke DiPalma Environmental, social and governance-based (ESG) spending is gaining momentum, as companies devote more of their business plans to the concept -- and younger investors increasingly take sustainability into account on where to park their cash. In early March, the European Union (EU) Sustainable Finance Disclosure Regulation became effective, which imposes sustainability-related disclosure requirements on financial services institutions such as banks, insurance companies, pension funds, and investment firms. However, experts say it may take up to 18 months to fully reverse. Still, Wall Street -- and even the Federal Reserve -- is going all in on sustainability. According to a report from Bank of America, ESG inflows were up 135% compared to a year ago as of February, with $4 of every $10 going toward global equity inflows.
How homeowners should navigate the appliance shortage
Bankruptcy Judge Mary Walrath also gave Hertz permission to pay Centerbridge a so-called breakup fee if its plan isn’t chosen. Competitor Avis Budget Group Inc. has seen its stock double this year.To meet its timetable, Hertz wants creditors to vote on the Centerbridge plan by June 1. Should Knighthead’s plan replace the Centerbridge proposal, creditors would not be harmed because recoveries would be higher, Lauria told Walrath.The Centerbridge plan is also backed by Warburg Pincus and Dundon Capital Partners. Knighthead is backed by a group of shareholders, including Discovery Capital Management, Glenview Capital Management and Hampton Road Capital Management.The case is Hertz Corp. 20-11218, U.S. Bankruptcy Court, District of Delaware (Wilmington). )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
PSEG CEO: 'there's so much more that can be done in terms of energy efficiency'
Forward bookings for travel in the U.K. were also at a high.“This should be good time for the real world,” Blackstone President Jonathan Gray said in an interview. “Businesses like telemedicine and e-commerce will continue to do well but the pendulum is swinging back with a bunch of us getting out there again. The credit and insurance sector took in the most cash, followed by real estate in the first quarter. (Updates with Gray comments in sixth paragraph, share price in seventh. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Former Home Depot CEO: Woke backlash against corporate CEOs trickles down to hard-working employees
HOME DEPOT REACTS TO BOYCOTT CAMPAIGN OVER GEORGIA VOTING LAWBOB NARDELLI: I think it would be very unfortunate to have a boycott on Home Depot. I know Craig Menear and his leadership team, Maria, have done a fabulous job during this pandemic. They provided incentives and accommodations, 2,000 stores across the country, as Larry said, providing... necessary product during this very challenging time. You know, if you talk about punishing corporate America, remember, these are corporate employees that are working day in and day out. So it'd be very, very unfortunate, Maria.
JPMorgan ramps up hiring to combat junior banker burnout
Ticker Security Last Change Change % JPM JPMORGAN CHASE & CO. 149.02 -1.56 -1.04%The bank is also adding more flexibility by extending and encouraging junior bankers to take more personal time offline, and will conduct a quarterly review to evaluate how junior bankers are spending their time. JPMORGAN CEO DIMON SAYS US ECONOMIC POISED FOR ‘EXTREMELY ROBUST’ GROWTH IF GOVERNMENT STIMULUS SPENT 'WISELY'The move comes following the leak of an internal presentation at Goldman Sachs, revealing junior bankers' grueling 100-hour workweeks. CLICK HERE TO READ MORE ON FOX BUSINESSJPMorgan isn't the only bank making moves to support junior bankers. Meanwhile, Jeffries Financial Group is reportedly awarding Peloton and Apple products to junior bankers. A spokesperson for Jeffries Financial Group did not immediately return FOX Business' requests for comment.
US airline bailout helps Southwest post $116M profit
Without the federal money, Southwest would have lost $1 billion in the quarter. SOUTHWEST AIRLINES MAKES REWARDS POINTS LESS VALUABLE OVERNIGHTSouthwest also echoed rivals in saying that demand for travel is continuing to improve. The airline said Thursday that bookings for leisure trips within the United States have been improving each week since mid-February. Without Southwest's share of that aid and other temporary items, Southwest would have lost $1.72 per share. CLICK HERE TO READ MORE ON FOX BUSINESSSouthwest posted revenue of $2.05 billion, slightly above the analysts' prediction of $2.03 billion.
A Look at Snap Ahead of Earnings
Here's what Jim Cramer had to say about one of the stocks that callers offered up during the Mad Money Lightning Round Wednesday evening, Snap Inc. (SNAP) . The last time we dove into the charts of SNAP was back on Dec. 2 we wrote that, "These four charts of SNAP suggest that SNAP could weaken in the weeks ahead. SNAP has been trading around the flat 50-day moving average line. The 200-day moving average line has a positive slope. The 40-week moving average line is bullish and the OBV line has been constructive since March of last year.
Qualtrics Surges on Analyst Upgrades Sparked by Earnings
Qualtrics shares jumped Thursday on several analyst upgrades prompted by the company's first-quarter earnings. Shares of Qualtrics (XM) - Get Report surged Thursday after the customer-relationship software vendor reported a 35% jump in first-quarter revenue that sparked several analyst upgrades and price target increases. Piper Sandler analyst Brent Bracelin raised Qualtrics to overweight from neutral with a price target of $49 citing the company's growth potential and a favorable risk-reward ratio. Deutsche Bank analyst Patrick Colville said Qualtrics had an impressive start to 2021 and touts customer growth as indicative of the company’s strong competitive positioning. Deutsche Bank has a buy rating on the stock and raised its price target to $43 from $41.
Green-Energy Stocks Rise on Earth Day as Biden Starts Climate Summit
President Joe Biden on Thursday kicked off the virtual two-day climate summit. Shares of alternative energy stocks like FuelCell Energy (FCEL) - Get Report, SolarEdge Technologies (SEDG) - Get Report, Enphase Energy (ENPH) - Get Report and others were rising on Earth Day as U.S. President Joe Biden kicked off a global climate summit. The virtual summit is being live-streamed for public viewing. "The Leaders Summit on Climate will underscore the urgency -- and the economic benefits -- of stronger climate action," the White House said in a statement. "It will be a key milestone on the road to the United Nations Climate Change Conference this November in Glasgow."
Planet Fitness Slips as Piper Cuts Chain to Neutral
Piper Sandler cut Planet Fitness to neutral, citing some short-term concerns but lauding its longer-term prospects. Planet Fitness (PLNT) - Get Report stock slipped on Thursday after Piper Sandler cut its rating on the chain to neutral from overweight following the investment firm’s annual fitness survey. Half the people interested in joining Planet Fitness plan to do so in fourth-quarter 2021 or first-quarter 2022, he said. Stock Market Today With Jim Cramer: Buy LululemonThe survey says that people, including Planet Fitness members, are exercising more at home. “Furthermore, we expect Planet Fitness to flex its marketing muscle this spring and summer to drive member growth.
Jim Cramer: Secular Growth Is What Lam Research Is All About
PEP, LUV, AAPL, LRCX, ASM, AMAT, KLAC, DOW, DE Stocks quotes in this article: JNJEasy to understand versus hard to understand, that is the questionWhen Johnson & Johnson (JNJ) has a good quarter we get itThe comparisons are easy, not just quarter over quarter but category after categoryGrooming, hair care, baby care, we get itSame with PepsiCo (PEP) : snacks, beverages
I Went From 'Why Do I Own AT&T?' to 'Wow, Am I Glad I Own AT&T'
to "Wow, am I glad I own AT&T." The First QuarterFor the first quarter, AT&T reported adjusted EPS of $0.86, which best expectations on revenue of $43.9 billion. HBO Max gained 2.7 million domestic subscribers, bringing the U.S. total up to 44.2 million subs. Total revenues for the WarnerMedia unit where HBO Max resides increased 9.8% to $8.5 billion, as ARPU (average revenue per user) for HBO Max domestic and HBO printed at $11.72. Looking AheadFor the full year, the firm sees revenue growth of just about 1% on a comparative basis that will produce adjusted EPS in line with 2020.
Equifax Soars on First-Quarter Earnings Beat, Revenue Guidance Boost
Equifax (EFX) - Get Report was jumping Thursday after the credit-reporting company beat Wall Street's first-quarter earnings expectations, reported record revenue, and raised its 2021 revenue guidance. Revenue growth was driven by by "our combined US B2B Business - Workforce Solutions and USIS - which delivered a combined 38% revenue growth as we continued to significantly outpace the strong US mortgage market and deliver strong growth in our non-mortgage businesses," Bego said. Bego said the company was confident in its outlook for 2021 and raised the full-year revenue guidance to a range of $4.58 billion to $4.68 billion, and adjusted earnings guidance to between $6.75 and $7.05 a share. "By our estimate the revenue guidance range was raised over and above the 1Q beat and the additional inorganic contribution." Truist analyst Andrew Jeffrey said he believed "improving macro is driving credit demand, and the question for us is how much share Equifax may be gaining, particularly in EWS (Equifax Workforce Solutions."
Intel Earnings Preview: The Must-Know Levels in Both Directions
Intel is set to report earnings. In any regard, April 12 is the exact day that Intel stock hit a 52-week high, then reversed and closed lower by more than 4%. Will earnings hurt or help Intel stock? Chart courtesy of TrendSpider.comIn late October, Intel stock retested its coronavirus selloff lows from the first quarter of 2020. Unless we have an unchanged post-earnings reaction, it likely means Intel stock is in a make-or-break position ahead of the print.
Editorial: Biden set the right climate goal. Now we have to meet it
President Biden opened an international climate summit Thursday with a pledge that the U.S. would reduce carbon emissions by 50% by the end of the decade. It’s an appropriate and reachable goal, per the experts, but one that will take sweeping efforts, actions and investments. (Biden has suggested reviving the Obama administration’s “cash for clunkers” program to incentivize car owners to switch to electric or hydrogen cell vehicles.) AdvertisementSo it’s good that Biden has declared this ambitious goal, and that other countries are pushing similar though in many cases less-ambitious agendas. It’s clear the U.S. must lead by act and moral example, and bring the rest of the world with us.
Plans for an assisted living facility at the former Seven Seas in Delafield no longer include a restaurant
A proposed assisted living facility at the site of the former Seven Seas property that was criticized by some residents will no longer include a restaurant. "We are no longer proposing a restaurant use on this site," Kiefer wrote in the proposal. Kiefer said changes were made to the proposal to address the concerns of the neighbors and the plan commission. At the February plan commission meeting, residents expressed concerns about noise, increased traffic and the effect the development could have on property values. The proposal will have a public hearing at the April 28 plan commission meeting.
The redevelopment of downtown South Milwaukee continues as Dawn Equipment expands into the former Bucyrus campus
From the shovels that dug the Panama Canal to farm equipment, South Milwaukee’s former Bucyrus/Caterpillar campus is starting to fill out. Illinois-based Dawn Equipment, which makes farming equipment, is expanding into about 75,000 square feet of the property in the center of South Milwaukee. “With businesses large and small deciding to relocate or expand in our city, there is a really positive story being written right now across South Milwaukee, especially downtown,” Brooks said in a statement. Dawn Equipment joins Steele Solutions and Badger Industries, which are also part of the campus vacated by Caterpillar when the company consolidated operations north of Rawson Avenue. Reich Brothers LLC purchased the land in 2018 and is behind the redevelopment of the 27-acre property, which features seven buildings and over 750,000 square feet of space for offices and industrial operations.
Japan raises emissions reduction target to 46% by 2030
Prime Minister Yoshihide Suga said Japan will strive by 2030 to cut its emissions by 46% from 2013 levels, up from its earlier goal of 26%, to achieve carbon neutrality by 2050, a target he announced in October. He said Japan would further try to push the reduction as high as 50%. Japan, one of the world’s biggest carbon emitters, has been under pressure from environmental groups and European countries to do more than its earlier 26% reduction target. Japan initially was to release its new 2030 target in time for the U.N. The 2050 emissions-free target would require drastic changes and likely prompt calls for more nuclear plant restarts.
US jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. Most of the increase occurred in two states, California and Texas, which process their claims every other week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
Plastic: What we eat and breathe
Plastic pollution is everywhere, including in our bodies. Today, 40% of plastic goes into packaging, the largest component of plastic waste. In March, Sen. Jeff Merkley, D-Ore., and Rep. Alan Lowenthal, D-Calif., introduced the Break Free from Plastic Pollution Act. It would require plastic manufacturers to deal with the tide of plastic waste and pollution that disproportionately harms low-income people of color. It was a potent moment of symbolism for all of the plastic waste we are handing future generations.
Police: Drivers of stolen cars head straight for responding East Hartford officers
At about 2:30 a.m., officers saw the vehicles on Hillside Street and determined all four had been stolen, police spokesman Lt. Josh Litwin said. Two drivers had stopped next to each other in the roadway and two others were nearby in the parking lot of the apartment complex at 30 Hillside St., Litwin said.
Detroit schools using cash, extra sick days to get teachers, staff vaccinated
Detroit — The Detroit Public Schools Community District is offering an incentive to teachers and many other employees who prove they've taken a COVID-19 vaccine: $500 and two sick days. Chrystal Wilson, a spokeswoman, said the incentive applies to anyone who has been vaccinated and can prove it, or anyone who will be vaccinated by June 30. The sick days are meant as a recovery period in the event an employee becomes ill after a shot, Wilson said. The district has started mandatory weekly saliva surveillance testing for all employees, Wilson said. If someone tests positive, they need a negative test to return to work, Wilson said.
Huntington sees economic rebound as pandemic effects wane; TCF deal to close this spring
The results easily beat Wall Street estimates, but shares of the bank did trade lower on the report. Steinour doesn't believe at this point that another round of funding for small businesses will be necessary to support them. The bank remains on track to close its acquisition of TCF by the end of June. The bank recorded charges of $21 million, or 2 cents per share, during the quarter for costs tied to the deal. The bank also is proceeding with plans it previously announced to close branch offices in 44 Meijer stores this spring.
Ohio weekly unemployment claims declined last week as U.S. claims fall to a pandemic low
Adrienne Roberts and Kristi TannerDetroit Free PressNew weekly unemployment claims in Ohio declined last week compared with the week prior, the U.S. Department of Labor said Thursday. Claims for unemployment benefits in U.S. at lowest level since before COVIDU.S. unemployment claims dropped to 547,000 last week, down 39,000 claims from 586,000 the week prior on a seasonally adjusted basis. Last Thursday's report also showed U.S. jobless claims dropping to their lowest level since before the pandemic, and economists expected jobless claims to creep back up last week. New jobless claims are still on par with some of the worst weeks of the 2009 recession. Virginia saw the largest percentage increase in weekly claims, with claims jumping by 195.3%.
US jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. Most of the increase occurred in two states, California and Texas, which process their claims every other week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
Los Angeles County will appeal US judge's homeless order
LOS ANGELES (AP) — Los Angeles County will appeal a federal judge’s order requiring the city of Los Angeles and the county to shelter all unhoused residents of Skid Row within 180 days and audit any spending related to the homeless crisis. The county filed a notice of appeal on Wednesday and will ask for the judge's order to be suspended, attorney Skip Miller, who represents the county, said in a statement. “Deciding how to spend taxpayers’ money and deliver services to people experiencing homelessness is a legislative, not a judicial, function,” Miller said. The order was issued Tuesday by Judge David O. Carter, who is presiding over a lawsuit by a group of business owners, residents and community leaders. Carter’s order came a day after Los Angeles Mayor Eric Garcetti vowed to spend nearly $1 billion to get people off the streets.
Shortage cuts into sales of existing US homes in March
Sales of previously occupied U.S. homes fell for the second consecutive month in March because there are so few on the market, and the fierce competition for those that do exist are pushing prices to new highs. Existing home sales fell 3.7% last month from February to a seasonally-adjusted rate of 6.01 million annualized units, the National Association of Realtors said Thursday. Sales jumped 12.3% from March last year. At the end of March, the inventory of unsold homes stood at just 1.97 million. At the current sales pace, that amounts to a 2.1 months’ supply, the NAR said.
A philanthropic drive to aid Black women is gaining momentum
The foundation is backing the Black Feminist Fund, which it has helped launch with a $15 million contribution. That fund will be led by activists from across the African diaspora, and according to the foundation, will serve as “the first global resource hub for Black feminist organizing and philanthropy.”One of its co-founders, Tynesha McHarris, said the goals include ending violence against Black women, supporting young Black feminists and advocating resource rights around things like land, water and food. Separately, Goldman Sachs in March committed $10 billion over the next decade to an initiative to improve the lives of 1 million Black women by 2030. Most of the money is slated to be spent on Black women-focused investments, in areas like health and job creation, with $100 million earmarked for philanthropy. That announcement coincided with the release of a report from the bank called Black Womenomics, which focuses on the racial wealth gap and the need to seek economic equity for Black women.
PNM and merger partner offer customer rate relief
ADVERTISEMENTSkip................................................................Taken together, the new commitments offer at least $250 million in benefits for ratepayers, local communities and the state as a whole, according to PNM. Many case intervenors criticized the original merger proposal, which the two companies filed with the PRC last November. Seven organizations, however, have signed on to support the new stipulation agreement, including the Attorney General’s Office, the environmental group Western Resource Advocates, an electrical workers union, and four community and Indigenous organizations. If divided among 530,000 PNM customers, that would amount to about $94.35 per ratepayer, paid out over three years. PNM estimates that will generate between $150 million and $200 million in economic benefits for the state.
Human Resources Professional at Admin Office of the Courts in Albuquerque, NM 87102
Human Resources Administrator & Business Specialist IIThe Administrative Offices of the Courts inSanta Fe or ABQ, NM is recruiting for aHuman Resources Administratorand a Business Specialist II. Position Location: Santa Fe or Albuquerque, NMPay Ranges: HR Administrator $46K - $75Kand Business Specialist II $40K-$66KExtensive benefits package. To apply: https://www.nmcourts.gov/careers.aspxor call 505-827-4810Equal Opportunity Employer
Journeyperson Electrician at File Construction in Albuquerque, NM 87102
Journeyperson ElectricianConstruction Company An EEO Employer, a fast growing Utility Company is seeking full time Journeyman Electrician with a minimum of 5-10 years of experience in industrial,commercial, interior work, concrete work, equipment operator, light travel required. Please email your resume to Jaime Cruz, General Manger at jaimeC@fconst.com and Matilde Chavez, Operations ManagermatildeC@fconst.comSalary DOE, medical, 401K,great work environment, travel flexibility.
China, Russia join US vowing emission cuts at climate summit
The new urgency comes as scientists say that climate change caused by coal plants, car engines and other fossil fuel use is worsening droughts, floods, hurricanes, wildfires and other disasters and that humans are running out of time to stave off catastrophic extremes of global warming. Leaders of smaller states and island nations buffeted by rising seas and worsening hurricanes appealed for aid and fast emissions cuts from world powers. “We are the least contributors to greenhouse gas emissions, but the most affected by climate change,” said Gaston Alfonso Browne, prime minister of Antigua and Barbuda. He called for debt relief and more international assistance to recover from storms and the pandemic to prevent a flow of climate refugees. Biden excused himself in the midst of the first session for other duties, but planned to join a second session on financing poorer countries' efforts to remake and protect their economies against global warming.
Last relative of John Lewis founder to depart with £1.5m payoff
John Lewis has handed a £1.5m payoff to the great-grandson of its founder ahead of his departure from the retailer in June. The move comes after the John Lewis Partnership scrapped staff bonuses for the first time since 1953 last year and sunk to a £517m loss last month. The amount covers payment for loss of office, his salary, car, pension as well as a contribution to his legal fees. The closures are in addition to the eight stores shut last year, which included two small travel hubs at Heathrow and St Pancras station, affecting 1,300 jobs. The rise in online shopping, exacerbated by successive lockdowns, has forced John Lewis to review its existing space.
Citizens' rail: The cooperative launching train services in France
Citizens' rail: The cooperative launching train services in FrancePEOPLE & PROFIT © FRANCE 24France's railways are being opened up to private operators, as part of a process that will see state-owned SNCF face competition on high-speed and local routes. A group of citizens in rural France have seized the opportunity to launch their own rail cooperative, which will begin its first passenger services from Bordeaux to Lyon next year. And we see how French newspaper kiosks are getting a new lease of life by being transformed into cafés, shops and other businesses. Daily newsletterReceive essential international news every morning Subscribe Take international news everywhere with you! Download the France 24 app google-play-badge_EN
Ontario police find big weed farm in Tiny Township
Article contentSeveral complaints from area residents launched a police probe that revealed a large, sophisticated and illegal cannabis farm in south central Ontario. 19, uniform members of the Ontario Provincial Police’s (OPP) Southern Georgian Bay Detachment attended a farm in Tiny Township in response to citizen complaints about a possible grow-op. Try refreshing your browser, or Ontario police find big weed farm in Tiny Township Back to videoOnce there, police located several buildings that had signs of a cannabis grow operation in progress, notes a statement from the OPP. In all, police ended up seizing 9,207 cannabis plants, 2,448 weed clones, 36.2 kilograms of marijuana bud and a loaded and insecure .22 calibre rifle. The OPP and other police services have discovered a number of large illegal grow-ops — inside and outside — over recent weeks.
10/3 podcast: How the Liberal government's budget shows Trudeau is in election mode
10/3 podcast: How the Liberal government's budget shows Trudeau is in election modeArticle contentThe Trudeau Liberals delivered their first budget since before the start of the COVID-19 pandemic, with an eye to post-pandemic economic recovery. But it also shows the government eyeing an election. Parliamentary Bureau Chief and National Post Columnist John Ivison joins Dave to discuss the spending priorities of the budget, what it means for Canada’s bottom line long term, and how it potentially disadvantages Trudeau’s biggest rivals come election time. Background reading: John Ivison: A federal budget for you? No, it’s out to crush the NDP and shame ConservativesSubscribe to 10/3 on your favourite podcast app.
43 new charges filed against suspect in Colorado supermarket mass shooting
Colorado prosecutors filed 43 new criminal charges Wednesday against the man suspect of gunning down 10 people, including a police officer, at a supermarket. Ahmad Al Aliwi Alissa, 22, had originally been charged with 10 counts of first-degree murder and one count of attempted murder before prosecutors filed an amended complaint stemming from the March 22 mass shooting at a King Soopers in Boulder. He's now facing a 54-count complaint that includes 10 counts of first-degree murder, 33 counts of attempted murder, one count of first-degree assault and 10 counts of using a prohibited large-capacity magazine while committing a crime. The suspect was arrested at the scene after he was shot in the leg by police. Among the 10 people killed was Boulder Police Officer Eric Talley, 51, who had been the first officer to arrive at the King Soopers.
Putin Says Russia Fulfilling Obligations to Fight Climate Change
President Vladimir Putin said Thursday that Russia, the world's fourth-highest producer of carbon emissions, was committed to fulfilling its international obligations to combat climate change. "Russia is approaching with complete responsibility its fulfillment of international obligations in this area," Putin told a summit hosted by U.S. President Joe Biden. "Despite Russia's size, its geography, climate and the structure of its economy, I am sure this task is achievable," Putin added. He concluded by saying that Russia was interested in "stepping up international cooperation" on climate change. Putin said earlier this week that Russia would set an emissions target "lower than in the European Union."
Jobless claims fell to 547,000, lowest level since the pandemic began in a sign layoffs are easing
About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. Most of the increase occurred in two states, California and Texas, which process their claims every other week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits. Employers chase job candidates:There is a surge in new job openings, but why isn't there a surge in job candidates?
Advice for buying or selling your house in this market
Advice for buying or selling your house in this marketSave yourself headaches and tons of money by heeding this advice when it comes to buying or selling your home.
An empty-nester house reemerges as a ‘cozy cottage’ home
AdvertisementStory continues below advertisement“I was drawn to this house because of the location inside the Beltway and walkability,” Martha says. “I went into this project thinking that it didn’t need extensive renovation,” Martha says. “All I knew is that I wanted a ‘cozy cottage’ feel to it.”The Humlers’ Potomac house had about 10,000 square feet. AdvertisementStory continues below advertisementThe redesign of the house started with Martha’s idea for moving the kitchen from the front of the house to the back. “The original primary suite had a skinny hallway with some narrow closets and was at the front of the house,” Gorodetzky says.
Mortgage rates fall back below 3 percent
Freddie Mac, the federally chartered mortgage investor, aggregates rates from around 80 lenders across the country to come up with weekly national averages. “After a sustained sell-off in 2021’s first quarter, demand for Treasurys has increased recently, keeping downward pressure on yields and thus mortgage rates,” said Matthew Speakman, a Zillow economist. “Despite another weekly downtick, the longer-term trend for mortgage rates remains to the upside and barring a significant economic or pandemic-related setback, it’s unlikely that this downward movement in rates will continue for an extended period,” he said. “Seeing no imminent threat to the financial markets, 30-year mortgage rates should move slightly down as well. Such big drops often happen in March because borrowers use their tax refunds on missed mortgage payments.
Americans without college degrees are struggling the most in this economy
Hiring has rebounded quickly for Americans with college degrees. Nearly 4 million adult workers without college degrees have not found work again after losing their jobs in the pandemic. AdvertisementHorrigan’s research has shown that both minority females without college degrees and white males without college degrees are having the hardest time finding work again. For decades, men without college degrees have struggled as blue-collar jobs went away, leaving fewer opportunities for low-skilled men to make it in the modern economy. As low-skilled service sector jobs evaporated in restaurants, malls, hair salons, spas, and home health care, women without college degrees are struggling to figure out their next steps.
As Biden convenes world leaders, U.S. pledges to cut emissions up to 52 percent by 2030
The move comes as Biden convenes 40 world leaders for an Earth Day summit aimed at fueling similar ambition around the globe. The European Union, meanwhile, has put forward a pledge to cut 55 percent of its emissions by 2030. Rather, the White House plans to detail the various sectors where it believes significant emissions cuts can happen in the years ahead. At the same time, the Biden administration has faced enormous pressure from environmental activists, Democratic lawmakers, foreign leaders and hundreds of private companies to make the boldest climate pledge possible. Most allies have praised the president for striving to cut at least half of the nation’s emissions by 2030, saying that science demands no less.
Stocks slide ahead of Biden's climate summit
U.S. equity markets slipped Thursday as traders digested better-than-expected jobless claims and awaited details from President Biden's climate summit. GOP SENATORS WARN BIDEN ADMINISTRATION ON DE-BANKING ENERGY COMPANIESIn stocks, automakers were among the groups in focus as Biden gets set to unveil his climate actions. Ticker Security Last Change Change % DHI D.R. European markets rallied across the board with Britain’s FTSE 100 up 0.05%, Germany’s DAX 30 gaining 0.48% and France’s CAC 40 advancing 0.69%. In Asia, China’s Shanghai Composite index slipped 0.23% while Hong Kong’s Hang Seng index and Japan’s Nikkei 225 climbed 0.47% and 2.38%, respectively.
The labor market is 'starting to rip' as fewer seek unemployment benefits
In an aerial view, workers with the San Francisco Department of Public Works repave a section of 24th Avenue on April 08, 2021 in San Francisco, California. Weekly unemployment claims fell to a new pandemic era low for a second week, suggesting the turn in the labor market is picking up steam and the April employment report could be strong. "In general, I do think it's consistent with a strengthening in the labor market. It does feel like things are really starting to rip here," said Kevin Cummins, chief U.S. economist at NatWest Markets. This is a sharp contrast from a year ago, when early April claims reached a peak of 6.2 million.
Cramer on Credit Suisse CEO's comments on losses from Archegos scandal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer on Credit Suisse CEO's comments on losses from Archegos scandalCredit Suisse reported Thursday a net loss of 252 million Swiss francs ($275 million) for the first quarter, at a time of increased pressure on the bank. Shares fell 5% in early European trading hours. CNBC's Jim Cramer, Carl Quintanilla and David Faber discuss.
'World's most powerful tidal turbine' gears up for operation
A tidal turbine weighing 680 metric tons and dubbed "the world's most powerful" has been launched from the Port of Dundee in Scotland, marking another significant step forward in the development of the U.K.'s marine energy sector. The plan is for the turbine to then be connected to the Orkney-based European Marine Energy Centre, where it will become operational. Orbital Marine Power said its launch marked "the completion of the turbine build." With miles and miles of coastline, the U.K. is home to a number of projects and initiatives related to marine energy. By contrast, 2020 saw 14.7 gigawatts (GW) of wind energy capacity installed in Europe, according to industry body WindEurope.
Full interview with Southwest CEO Gary Kelly on Q1 results, demand, Boeing and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with Southwest CEO Gary Kelly on Q1 results, demand, Boeing and moreSouthwest Airlines said Thursday that leisure travel bookings continue to rise and it expects breakeven cash flow “or better” by June. The airline posted first-quarter net income of $116 million, compared with a $94 million loss a year earlier. Revenue of $2.1 billion fell nearly 52% from the year-earlier period. Southwest CEO Gary Kelly joined "Squawk on the Street" to discuss the results.
Why the Biden climate plan may be good for some investors
In this article ESGEXIPX-GBYuhan Liao | Moment | Getty ImagesThe Biden administration is taking aggressive steps to combat climate change. The White House also unveiled a $2 trillion infrastructure proposal last month, with ample measures to curb climate change. The developments may be a tailwind for investors in so-called sustainable or environmental, social and governance (ESG) funds, according to financial advisors. Impax Asset Management, Pernassus Investments and Boston Common Asset Management are good starting points for retail investors new to the space, he said. Instead, they may be investments in "new technologies to prepare the country for a more sustainable, climate friendly and energy-efficient future."
Dow CEO Jim Fitterling talks Q1 earnings, EBITDA and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDow CEO Jim Fitterling talks Q1 earnings, EBITDA and more"Pricing is strong because demand is strong," Dow CEO Jim Fitterling told CNBC's "Squawk on the Street" Thursday. "My outlook is that it's going to be tight this way for the rest of the year."
Southwest CEO Gary Kelly on Boeing 737 Max groundings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest CEO Gary Kelly on Boeing 737 Max groundingsU.S. airlines temporarily grounded more than 60 Boeing 737 MAX jets earlier this month after the U.S. planemaker asked 16 carriers who operate the jet to address an electrical power system issue in the aircraft. Southwest Airlines CEO Gary Kelly joined "Squawk on the Street" to discuss the impact on the company.
AT&T CEO says 'glory days are still in front' of HBO despite fierce streaming competition
AT&T CEO John Stankey expressed confidence Thursday in the future of HBO as the telecom giant's pay TV unit competes in the crowded field of digital streaming. In the first quarter, AT&T added 2.7 million U.S. subscribers for HBO and HBO Max, its online streaming option that launched in America in May 2020. The services now have a combined 44.2 million subscribers in the U.S. and almost 64 million worldwide. In March, Disney+ topped 100 million subscribers in just 16 months after its debut. At the same time, he said AT&T believes the ad-supported HBO Max will expand the pool of potential subscribers, while setting it apart from some of its rivals.
These are the world's largest banks that are increasing and decreasing their fossil fuel financing
But that number is not the full story: Some banks have been increasing their business with fossil fuel companies while others have been decreasing during that time. China Minsheng Bank had the second highest percentage change in fossil fuel financing from 2016 to 2020 with a 550% increase, as its financing went from $1.7 billion to $10.8 billion, according to CNBC's analysis. Neither Postal Savings Bank of China nor China Minsheng Bank responded to CNBC Make It's request for comment. In 2020, Crédit Mutuel decided it was willing to lose money "in the short term" for its fossil fuel goals. Zürich, Switzerland-headquartered investment bank UBS decreased fossil fuel financing by 73%, from $7.7 billion in 2016 to $2.1 billion in 2020, making it the bank with the second largest pullback, according to CNBC Make It's analysis.
Older millennials made it to management—now they're wondering if they even want to be the boss
What's different for millennials may be how it has become the top strategy to actually get ahead in their careers. Young has spent the last four years in a managerial role but doesn't relish the idea of being anyone's boss. Many people look at me and husband and say, 'Wow, they made it, they're so successful and both make six figures.' More flexible workplaces following the pandemic could also encourage millennials to pursue the management track. So after six months with one insurance company, he got promoted to a manager role — a record-speed for the company, Won adds.
Amazon's cashierless checkout technology is coming to its new supermarkets
Amazon's cashierless checkout technology could soon be coming to its growing line of Fresh grocery stores. Features of Amazon's automated checkout technology, called "Just Walk Out," appear in planning documents for a store under construction in a suburban shopping plaza in Brookfield, Connecticut. The technology allows customers to skip the checkout line by tracking any items they grab and charging them when they leave. In September, Amazon opened its first Fresh grocery store in Los Angeles' Woodland Hills neighborhood. If Amazon ends up launching cashierless checkout technology in Fresh stores, it would represent an industry feat.
Existing home sales suffer second straight monthly decline as tight supply pushes prices higher
That is the slowest sales pace since August and the second straight month of declines. Still, sales were 12.3% higher than March 2020, when transactions were falling due to the Covid pandemic. There were just 1.07 million homes for sale at the end of month, representing a 2.1-month supply at the current sales pace. Low supply continues to push prices ever higher. Some of that gain is due to the fact that there are more homes selling on the higher end of the market, therefore skewing the median higher.
Nikola shares surge on hydrogen fuel station plans with TravelCenters of America
Shares of embattled electric truck manufacturer Nikola surged during early trading Thursday after the company announced a limited collaboration on hydrogen fueling stations with TravelCenters of America. The plans include installing hydrogen fueling stations for heavy-duty trucks at two sites in California for TravelCenters of America, which is the largest publicly traded company that runs full-service travel centers in the U.S. The initial stations are "a first step for the parties to explore the mutual development of a nationwide network," according to Nikola. Shares of Nikola were up by as much as 7.7% in morning trading before leveling off to about $10.33 a share, up 1.5%. Nikola, which was briefly valued higher than Ford Motor last year, now has a market value of less than $4 billion.
Jobless claims fell more than expected last week, hitting a pandemic low
New York (CNN Business) Claims for unemployment benefits went down more than expected last week. Another 547,000 American workers filed jobless claims last week, adjusted for seasonal swings, the Labor Department said Thursday. It was a new low for claims since the pandemic started. Analysts surveyed by Refinitiv had predicted the number of claims to increase from the previous week. That said, claims are still far higher than in pre-pandemic times, when they hovered in the low 200,000.
A psychologist's advice: How to talk to your kids about social media and drug abuse
(CNN) While the drug dealers on the street enticing kids to take a hit haven't disappeared, my teenage clients tell me that social media is increasingly an almost invisible way that dealers are reaching young people. Understanding the nature of the dealI have spoken to two dozen teenagers, including three self-described dealers, about drug dealing via social media. How to talk with your kidsIt's easy to start with what parents should not do: Don't focus on social media drug dealers as predators. First, parents need to create a culture at home that allows space for drug use to be addressed with their kids anytime. Ask them to show you how their social media accounts work.
Exxon expands renewable fuel agreement amid clean energy push
An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim YoungExxon Mobil (XOM.N) said it has expanded an agreement to buy more renewable diesel from Global Clean Energy's biorefinery in Bakersfield, California, as climate policies pressure companies to cut their carbon emissions and opt for cleaner fuels. read moreExxon said its five-year deal will commit it to purchase up to 5 million barrels of renewable diesel per year from Bakersfield biorefinery, up from 2.5 million barrels as per the original agreement signed in August 2020. The biorefinery, on schedule to begin production in early 2022, will process up to 15,000 barrels per day of renewable feedstock. Exxon said it plans to distribute the renewable diesel within California and potentially other U.S. and international markets.
U.S. Supreme Court curbs FTC's power to recoup ill-gotten gains
Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. The justices ruled that judges do not have the authority under that provision to order defendants to return money to consumers. Circuit Court of Appeals that endorsed the agency's authority to recoup the money. Tucker in 2018 was sentenced to 16 years and eight months in prison after being found guilty of violating federal lending and racketeering laws. The Supreme Court's ruling will affect a separate case the justices have agreed to hear in which the FTC is seeking $5.2 million in ill-gotten gains from another company, the Credit Bureau Center.
Analysis: Tesla's bad week in China was months in the making
Staff members stand at the Tesla booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. Tesla's troubles in China also underscore a problem Musk and senior Tesla executives have acknowledged, though mainly in relation to the company's North American business. Tesla's rapid sales growth has outrun its capacity to repair vehicles when hardware goes bad. Tesla appeared to have scrapped much of its public relations team in the United States last year, although it has been hiring public relations staff in China. On Thursday, Global Times Editor-in-Chief Hu Xijin said the intent is not to force Tesla from China.
China's Xi says China will phase down coal consumption over 2026-2030
REUTERS/Carlos Garcia Rawlins/File PhotoChina will start to phase down coal consumption over the 2026-2030 period as part of its efforts to reduce climate-warming greenhouse gas emissions, President Xi Jinping told the Climate Leaders' Summit on Thursday. "We will strictly limit the increase in coal consumption over the 14th five-year plan period (2021-2025) and phase it down in the 15th five-year plan period (2026-2030)." Xi's comments imply that China's coal consumption, by far the highest in the world, will reach a peak in 2025 and start to fall thereafter. Xi pledged last year that China would bring its emissions to a peak before 2030 and become carbon neutral by 2060. "China has committed to move from carbon peak to carbon neutrality in a much shorter timespan than what might take many developed countries, and that requires extraordinarily hard efforts from China," he said.
Unemployment claims improve to the lowest point of the pandemic
As regular readers know, progress on weekly unemployment claims has been hit or miss in recent months, but the new report from the Labor Department represents great news. First-time claims for unemployment insurance totaled 547,000, well below the Dow Jones estimate for 603,000 and a new low for the Covid-19 pandemic era. That weekly total soon after reached nearly 7 million as the economy cratered. To be sure, it'd be a mistake to see 547,000 jobless claims as good news on its own. In the early months of 2020, for example, the U.S. average on unemployment claims was roughly 211,000 -- well under half of the total from today's report.
Shortage cuts into sales of existing US homes in March
Shortage cuts into sales of existing US homes in MarchA "for sale" sign stands along side a housing lot in Mount Prospect, Ill., Friday, April 2, 2021. U.S. home prices increased at the fastest pace in seven years in January as the pandemic has fueled demand for single-family houses even as the supply for such homes shrinks. (AP Photo/Nam Y. Huh)A "for sale" sign stands along side a housing lot in Mount Prospect, Ill., Friday, April 2, 2021. Existing home sales fell 3.7% last month from February to a seasonally-adjusted rate of 6.01 million annualized units, the National Association of Realtors said Thursday. At the current sales pace, that amounts to a 2.1 months’ supply, the NAR said.
Penns Woods: Q1 Earnings Snapshot
WILLIAMSPORT, Pa. (AP) _ Penns Woods Bancorp Inc. (PWOD) on Thursday reported first-quarter profit of $3.4 million. The Williamsport, Pennsylvania-based bank said it had earnings of 49 cents per share. The holding company for Jersey Shore State Bank and Luzerne Bank posted revenue of $17.2 million in the period. Penns Woods shares have decreased slightly more than 9% since the beginning of the year. Access a Zacks stock report on PWOD at https://www.zacks.com/ap/PWOD
Indiana lawmakers set to approve budget, finish session
INDIANAPOLIS (AP) — Indiana lawmakers were set to give final approval to a new two-year $37 billion state budget on Thursday as they wrapped up this year’s regular legislative session. That Republican-written budget plan is highlighted by an overall school funding increase of about 4.5% in each of the next two years while allowing a contentious expansion of the state’s private school voucher program. The funding increase is more than double what budget negotiators had proposed before new projections showed state tax collections should bounce back stronger than expected from the pandemic recession. ADVERTISEMENTThe budget also includes money for numerous economic grant programs and construction projects drawing on $3 billion the state is receiving from the federal coronavirus relief program backed by President Joe Biden and pushed by Democrats through Congress without Republican support. But having avoided any COVID-19 disruptions over the past four months, lawmakers will have a more ceremonial end to the session.
Maui’s mayor has vetoed an affordable housing unit bill
HONOLULU (AP) — Maui Mayor Michael Victorino has vetoed a bill that would have applied stricter regulations to a state program that offers developers incentives to build affordable housing units. Maui councilperson Michael Molina proposed the bill and said developers receive too many benefits for producing too few affordable housing units. “We’re just asking for more affordable housing,” Molina said earlier this month. The Maui County Council voted 6-3 to pass that version of the bill, which Victorino vetoed this week. Victorino said the bill had good intentions but that he thinks another layer of regulations would delay affordable housing construction.
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Lowe's acquires StainMaster
Lowe's Cos. LOW, -0.90% announced its acquisition of StainMaster, the carpet and flooring company. Lowe's has exclusively sold StainMaster carpet for the last decade, and says this expands on that partnership. The acquisition includes all intellectual property and sub-brands. StainMaster will join the Lowe's lineup of private labels, which includes Project Source and Harbor Breeze. Lowe's stock has gained 26.2% for the year to date while the benchmark S&P 500 index SPX, -0.07% is up 10.9% for the period.
Oil prices hold ground at lowest levels in over a week as global COVID cases rise
Oil futures remained under pressure Thursday, though prices held ground at their lowest levels in more than a week, as a continued surge in COVID-19 cases in Asia in particular underlined concerns about the global economy and energy demand. The market has realized that a “global come-back in oil demand cannot come without a come-back of the world’s largest economies,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. June Brent crude BRN00, +0.20% , the global benchmark, was off 24 cents, or 0.4%, at $65.08 a barrel on ICE Futures Europe. India on Thursday saw 314,835 new COVID-19 cases, marking a record daily tally. India and Japan are among the world’s largest oil consumers and importers, said Eugen Weinberg, analyst at Commerzbank, in a note.
Opinion: Thinking green (investments)? Why it rarely pays to buy niche ‘thematic’ ETFs
A prime example of hyped-up investments that haven’t recouped their initial prices are cannabis ETFs, Manning says. Several alternative-energy ETFs launched in the early 2000s in response to crude-oil prices trading well over $100 a barrel. The VanEck Vectors Solar Energy ETF debuted in 2008 and ceased trading in 2017. Even a diversified global clean-energy ETF such as the 16-year-old Invesco WilderHill Clean Energy ETF PBW, +3.19% suffered losses for much of its existence. A diversified renewable energy ETF might be a better pick over an unproven niche play such as hydrogen.
Opinion: Why you should plan to leave money to your kids
But bear with me while I tell you why you should want to be able to leave money to them. This is the result you want, and it would indeed let you leave money to your kids. Before I briefly discuss the idea of “I want to die broke,” here’s my bottom-line advice when you’re planning retirement withdrawals. Even then, I think your best bet is likely to be planning to have some money left over to leave to the kids. And early next month, I’ll write about how to safely take more from your retirement portfolio.
Existing-home sales fall for second consecutive month as house prices surge to record levels
Existing-home sales declined in March, reflecting the challenges buyers continue to face in the competitive real-estate market. Existing home-sales fell 3.7% to a seasonally-adjusted, annual rate of 6.01 million in March, the National Association of Realtors reported. Compared with a year ago, home sales were up more than 12%. Home prices hit a high of $329,100, reflecting a record pace of price growth at 17.2% from last year.
Ulta Beauty’s Outlook Is Getting Rosier, Says Analyst
E-commerce accounts for a rising share of Ulta Beauty’s sales. Dimitrios Kambouris/Getty Images for ULTA Beauty / KKW BeautyUlta Beauty is up more than 12% since the start of the year, and while that was enough to beat the broader market, the stock has lagged behind many peers in retailing and beauty. Wells Fargo expects that to change. Analyst Ike Boruchow reiterated an Overweight rating on Ulta Beauty (ticker: ULTA) on Thursday, while raising his target for the stock price to $365 from $356. He boosted his estimates of per-share earnings for both this year and next to $9.75 and $12.50, respectively, from $9.30 and $11.28.
U.S. leading indicator index suggests economy is gathering momentum
The index of U.S. leading economic indicators rose 1.3% in March, The Conference Board said Thursday. All 10 components of the index were positive, suggesting economic momentum in the near term, said Ataman Ozyildirim, senior director of economic research at The Conference Board. The firm now projects year-over-year economic growth could reach 6% in 2021, he said.
Why Macy’s Earnings Could Be Stronger Than Expected
Macy’s has been one of the best-performing department store stocks, rising more than 48% since the start of the year. Shares of Macy’s (ticker: M) were up 2% to $17 in morning trading. Although other retailers are also enjoying these tailwinds, Wissink thinks Macy’s looks particularly well positioned to take advantage of a coming cycle of people once again attending dressier events and updating their denim wardrobes. She expects Macy’s to lose 40 cents a share, down from the 49 cents she previously expected and the average analyst estimate for 47 cents. Traditionally, fall is more important than spring for fashion, but given evidence of a ramping recovery, Wissink thinks that Macy’s may be more confident in buying inventory for the second half of the year.
‘Sales have a good deal further to fall’: Property prices see record growth, but existing-home sales decline
Sales fell across every region, with the largest decline occurring in the West — where they dropped 8% since February. ”Home prices hit a high of $329,100 last month, reflecting a record pace of price growth at 17.2% from the previous year. The existing-home sales report reflects transactions where the sale has closed, which typically comes between one and three months after the contract was signed. Nevertheless, the steady stream of new listings is a sign that the housing market is behaving normally. “The storm didn’t help in February, but any rebound was more than offset by the much bigger problem for the housing market, which is that mortgage demand has tanked in recent months.
Mortgage rates drop below 3% again — offering opportunities to buyers and homeowners
Mortgage rates slid below the 3% mark once again, giving both existing homeowners and prospective buyers the chance to lock in historically low interest rates in a competitive housing market. The 15-year fixed-rate mortgage, meanwhile, fell six basis points to an average of 2.29%. Mortgage rates roughly follow the direction of long-term bond yields, particular the 10-year Treasury note BX:TMUBMUSD10Y. The decline in rates offers another lifeline, particularly to homeowners who were unable to take advantage of last year’s record-breaking low mortgage rates. “Low and declining mortgage rates provide these homeowners the opportunity to reduce their monthly payment and improve their financial position,” Khater said in this week’s mortgage rates report.
Investors Are Skeptical About European Oil Giants’ Push to Decarbonize, Analyst Says
The major European energy companies trade for a “historically wide” discount to their U.S. peers as investors take a cautious view of the Europeans’ decarbonization strategies, says Morgan Stanley analyst Martijn Rats. “European majors have usually been valued at a discount, but the gap is historically wide at the moment,” Rats noted. “European majors are embarking on ambitious strategies to decarbonize. After some dividend cuts in 2020, the European majors have much lower dividend payout ratios than their U.S. peers, which may also be contributing to their discounts. Dividends matter, Rats argues, as investors prefer the energy companies to pay out more free cash flow.
Sands Logs Another Big Loss, but Expects Macau to Drive Growth as Pandemic Eases
Casino operator Las Vegas Sands reported another big quarterly loss, but the company pointed to improving business in Macau as a growth driver as the pandemic eases. Those results exclude the company’s Las Vegas operations, which are being sold. Las Vegas Sands (ticker: LVS) said in early March that it will unload its Las Vegas real estate and operations for about $6.25 billion in a deal expected to close toward the end of this year. The company’s Las Vegas Strip properties include the Venetian Resort Las Vegas and the Sands Expo & Convention Center. Las Vegas Sands is behind when it comes to an online/mobile platform for sports betting and other types of wagering.
Lowe's acquires StainMaster
Lowe's Cos. LOW, -0.85% announced its acquisition of StainMaster, the carpet and flooring company. Lowe's has exclusively sold StainMaster carpet for the last decade, and says this expands on that partnership. The acquisition includes all intellectual property and sub-brands. StainMaster will join the Lowe's lineup of private labels, which includes Project Source and Harbor Breeze. Lowe's stock has gained 26.2% for the year to date while the benchmark S&P 500 index SPX, -0.08% is up 10.9% for the period.
Opinion: Thinking green (investments)? Why it rarely pays to buy niche ‘thematic’ ETFs
A prime example of hyped-up investments that haven’t recouped their initial prices are cannabis ETFs, Manning says. Several alternative-energy ETFs launched in the early 2000s in response to crude-oil prices trading well over $100 a barrel. The VanEck Vectors Solar Energy ETF debuted in 2008 and ceased trading in 2017. Even a diversified global clean-energy ETF such as the 16-year-old Invesco WilderHill Clean Energy ETF PBW, +3.14% suffered losses for much of its existence. A diversified renewable energy ETF might be a better pick over an unproven niche play such as hydrogen.
Natural-gas prices turn higher; EIA reports a 38 billion cubic foot rise in U.S. natural-gas supplies
The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 38 billion cubic feet for the week ended April 16. That just about matched an average increase of 37 billion cubic feet forecast by analysts polled by S&P Global Platts. Total stocks now stand at 1.883 trillion cubic feet, down 251 billion cubic feet from a year ago but 12 billion cubic feet above the five-year average, the government said. Following the data, May natural gas NGK21, +2.49% was up 4.3 cents, or 1.6%, to $2.74 per million British thermal units. It traded at $2.69 shortly before the data.
‘I don’t think this is a bubble at all in bitcoin…this is ‘the beginning of a mainstreaming of it’ says stock-market pro Bill Miller
“ “I don’t think this is a bubble at all in bitcoin, I think this is now the beginning of a mainstreaming of it.” ” — Bill MillerThat is famed stock picker Bill Miller doubling down on his support for bitcoin and the broader market during an interview with CNBC Tuesday afternoon. The star fund manager at Miller Value Partners said that he views the bitcoin market as just in its infancy, with demand for the digital asset far outweighing its current supply—a key factor in its rise to near records, despite a recent pullback over the weekend.
Construction group surges in London on upbeat update, as FTSE 100 edges higher
Shares of Morgan Sindall rose as much as 19% on Thursday, as the midcap U.K. construction group said its full-year performance will be “significantly” ahead of expectations. Morgan Sindall MGNS, +18.31% previously guided for a result “slightly ahead of that delivered in 2019,” when its adjusted operating profit was £93.1 million on sales of £3.07 billion. At the end of March, analysts had forecast a profit of £96.1 million on sales of £3.14 billion, according to FactSet.
Goldman Sachs says S&P 500 returns may tumble as U.S. economic growth peaks. Buy these stocks.
Our call of the day is from the team at Goldman Sachs, led by Ben Snider, who warns that as economic growth peaks, investors should expect lower equity returns and higher volatility. Chart via Goldman Sachs“Decelerating growth is usually associated with weaker, but still positive, equity returns and higher volatility,” the strategists say. Since 1980, the S&P 500 SPX, -0.08% has seen average monthly returns of 1.2% when economic growth was positive and accelerating, but just 0.6% when growth was positive but decelerating. Economists at Goldman Sachs expect economic growth in Europe, Japan, and emerging markets outside of China to peak later than in the U.S. — in the third quarter of this year. Goldman Sachs GS, -0.51% has two pieces of advice: Buy global-facing cyclicals relative to domestic-facing cyclicals and buy a basket of “Europe reopening” stocks, which have lagged behind “U.S.
Dogecoin army’s campaign to drive crypto to $1 was a bust — so why are the bulls feeling vindicated?
It was a dollar or bust for the dogecoin community on Wednesday — and now it seems that dogecoin fanatics have been left with only the bust. A social-media initiative to drive dogecoin to the $1 level for the first time ended the way it was most likely to, according to skeptics. Wednesday’s trading action comes after Tuesday’s campaign fell about 70 cents shy of its ambitious goal. Unlike Bitcoin, Dogecoin is inflationary and has no supply limit. Billionaire Mark Cuban, who now accepts doge as payment for tickets to his NBA franchise’s games, also has been championing dogecoin.
Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says
That keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week. Last week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the “primary beneficiary” of the increased adoption of bitcoin and other digital assets, especially be institutional investors. “Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,” Horgan wrote in a note to clients. “Net/net, we are buyers of [Coinbase’s stock] as a long-term category leader and pure-play cryptocurrency stock.”
Bitcoin bears are stalking crypto prices — here’s how low they could go
Bitcoin was off 1.8% late-morning Wednesday in New York, changing hands at around $56,000 on CoinDesk. The “50 DMA has been a crucial support for Bitcoin since October last year and it has held this support every time in this rally. The JPMorgan strategist point to bearish trends in bitcoin futures markets BTC.1, -1.73% , where institutional and professional investors go to hedge their exposures to the crypto. JPMorgan researchers aren’t 100% sure that this time bitcoin will follow a decline with a strong snap back higher as was seen in November and in mid-February. Notably, the analysts say that flows into bitcoin have been tepid and the downturn appears to be gathering steam.
Credit Suisse executives were grilled on Archegos losses. Here’s what they said.
Read: Credit Suisse taps shareholders for cash as regulator investigates Archegos lossesGottstein wasted no time addressing the inevitable. He said that reduction accounts for roughly a third of the total leverage employed at the prime business. Mathers also took umbrage at the idea Credit Suisse did a worse job exiting the Archegos positions than its Wall Street peers such as Goldman Sachs GS, -0.51% and Morgan Stanley MS, -0.57% . Gottstein commented on what Credit Suisse has already learned, though an internal investigation is continuing. Credit Suisse shares dropped 5% on Thursday, and have dropped 29% since the bank first announced losses tied to its lending to Archegos.
Qualtrics Soars as Earnings and Revenue Crush Estimates
For the March quarter, Qualtrics reported revenue of $238.6 million, up 36% from $176.1 million a year ago, and ahead of the company’s guidance range of $226 million to $228 million. Subscription revenue of $186.9 million was up 46% from a year ago, and ahead of the company’s projection of $176 million to $178 million. For the June quarter, Quantrics sees revenue of $240 million to $242 million, ahead of the Street consensus estimate at $229.3 million. subscription revenue of $190 million to $192 million, and a non-GAAP loss of 1 cent to 3 cents a share. The company sees full-year subscription revenue of between $768 million to $772 million, up from a previous estimate of $738 million to $742 million.
Southwest CEO: we’re better positioned today than before COVID
The timing of the blowup could hardly have been worse, coming just weeks after Credit Suisse found itself at the center of the Greensill Capital scandal, when it was forced to suspend investment funds. The bank increased its assets weighted according to risk for both Archegos and Greensill. Credit Suisse has so far returned about half the $10 billion in investor money held by the funds at the time of their suspension. While the bank marketed the funds as among the safest investments it offered, investors are left facing the prospect of steep losses as the assets are liquidated. “There are three more distinct positions which we will work through in the next months and quarters.
How to buy a house in 2021: 8 tips for winning the COVID homebuying season
What to expect for the 2021 homebuying seasonAlthough the average rate for a 30-year fixed-rate mortgage is still relatively low, mortgage rates have risen steadily this year. Mortgage rates will likely stay lowMortgage rates aren’t as low as they were in parts of 2020, but the Federal Reserve doesn’t see rates increasing significantly until after 2023. Establish your homebuying budgetWhy it’s important: You’ll know what you can afford before you set your heart on a particular home or location. If someone beats you with a better offer, you’ll know you could not have done any better. Be realistic about closing timelinesWhy it’s important: Closing late can be costly.
Former Chrysler CEO warns of unintended consequences of new climate standards on auto industry
Former Chrysler CEO Bob Nardelli warned of the unintended consequences of the Biden administration’s new regulations and emissions standards on the auto industry on FOX Business’ "Mornings with Maria" Thursday. And again, I would say the auto industry was trying to do right voluntarily. If they're going to have to spend it to improve fuel efficiency, they might as well convert to electric. CLICK HERE TO READ MORE ON FOX BUSINESS…We already see the car park at about 11 years, 280 million units out there. So I think we've got tremendous confusion for this industry going forward.
American Airlines posts $1.25B loss, delays new jets
American Airlines said Thursday that it lost $1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic. With less traffic, American reached a deal with Boeing to delay delivery of 23 737 Max jets until 2023 and 2024 and convert five of those to a larger version of the plane. American expects to take 14 Max jets over the next 12 months. A year ago, when the pandemic was just starting to hit the U.S., American lost $2.24 billion. Shares of Texas-based American Airlines Group Inc. rose 2% in trading before the opening bell.
Cleveland-Cliffs Wavers After Earnings and Raised Guidance
Cleveland-Cliffs shares wavered on Thursday after the steelmaker said it expected record free cash flow and would pay down substantial debt. Shares of Cleveland-Cliffs (CLF) - Get Report wavered on Thursday after the steelmaker swung to a first-quarter profit on a tenfold increase in revenue. Cleveland-Cliffs earned $41 million, or 7 cents a share, in the quarter compared with a loss of $52 million, or 18 cents a share, in the year-ago period. Cleveland-Cliffs expects full year adjusted earnings before interest, taxes, depreciation and amortization of $4 billion, up $500 million from its guidance of roughly $3.5 billion. Goncalves said "the pricing environment we are in -- and will continue to benefit from going forward -- is not a consequence of luck."
Flippers Hit Early Strength but Dip Buyers Are Showing Some Interest
After a solid day of gains on Wednesday for many small-cap, growth, and speculative names, there is flipping into early strength this morning. The issue now is whether stocks and indices can find support before giving back too much of yesterday's gains. As long as things don't move too close to yesterday's lows it will still be a technical positive. Momentum has slowed quite a bit this morning but small-caps are exhibiting some relative strength. Gogo (GOGO) is an interesting under the radar play I've highlighted in the past.
PPG Has Come Roaring Back to New Highs
For his final "Executive Decision" segment of Mad Money Wednesday, Jim Cramer checked in Michael McGarry, chairman and CEO of PPG Industries (PPG) , the materials and coatings maker. We would have been stopped out in February but PPG eventually rallied to new highs. PPG is trading above the rising 50-day moving average line and the rising 200-day moving average line. Prices are in a longer-term uptrend and trading nicely above the rising 40-week moving average line. In this weekly close only Point and Figure chart of PPG, below, we used a five box price filter.
Fisker Cut to Sell, Lordstown Dropped to Neutral by Goldman
Fisker and Lordstown Motors slide after Goldman Sachs warns of an 'increasingly competitive' electric vehicle market. Analyst Mark Delaney said in a research note he was downgrading Fisker to sell from neutral and cutting his price target to $10 from $15. On Tuesday, analysts at Bank of America initiated coverage of Fisker with a buy rating and $31 price target. Delaney cut Lordstown Motors rating to neutral from buy, while cutting his price target to $10 from $21. Lordstown Motors suffered a setback Monday after its pickup truck, Endurance, failed to complete a race in Baja, Mexico.
Canoo Names Executive Chairman Tony Aquila as New CEO
Aquila will replace Canoo co-founder Ulrich Kranz as the company's CEO once Kranz leaves at the end of the month. Electric vehicle maker Canoo Inc (GOEV) - Get Report announced before the market open that it was appointing Tony Aquila, its executive chairman and one of its largest investors, to the role of chief executive. He immediately replaces Ulrich Kranz, who co-founded the company and will be leaving his post at the end of the month. "Any company that's young and at this age is fine-tuning its strategy," Aquila told Reuters in an interview. We are focused on aligning the business to best meet the greatest market demand," Aquila said in the press release announcing his new position.
Union Pacific Misses on First-Quarter Results, Affirms 2021 Guidance
Union Pacific misses on first-quarter results, but reaffirms its full-year guidance. Union Pacific (UNP) - Get Report fell short of Wall Street's first-quarter earnings expectations Thursday as the railroad giant felt the impact of extreme weather and rising fuel prices, but also affirmed its full-year guidance. In January, Union Pacific posted fourth-quarter results that topped analyst estimates. In response, Canadian Pacific argued on Wednesday that the $30 billion takeover would stifle competition and raise freight prices. Union Pacific is a holding in Jim Cramer's Action Alerts PLUS member club.
Skillz Jumps as Cathie Wood's ARK Investment Buys Shares
Two ARK active ETFs purchased over 5 million shares of Skillz on Wednesday afternoon. Shares of mobile gaming company Skillz Inc. (SKLZ) - Get Report continued to rise Thursday after Cathie Wood's ARK Investment Management bought shares of the e-sports platform. On Wednesday afternoon, ARK's active ETFs added over 5 million shares of the company, with ARK Innovation ETF (ARKK) - Get Report buying more than 4 million shares and ARK Next Generation Internet ETF (ARKW) - Get Report purchasing more than 1 million shares. Skillz shares closed Wednesday's session up 33.6%. The company will sell 17 million shares of Class A common stock while certain stockholders will sell another 15 million shares at a price of $24 per share.
LIVE: Jim Cramer on Chipotle, Airlines, Ford, FAANG, Earth Day
Jim Cramer and Katherine Ross discuss Chipotle earnings, Southwest and other airline earnings, and yet another chip shortage impact for Ford. Jim Cramer and Katherine Ross will discuss Chipotle (CMG) - Get Report earnings, why he likes Southwest (LUV) - Get Report the most out of the airlines, and Ford (F) - Get Report getting hit yet again by the chip shortage. Is the Stock Market Dangerous? "In his "No Huddle Offense" segment, Cramer talked about those who believe the stock market is dangerous. Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club in Thursday’s Daily Rundown.
There Is No Shortage of Kevin Bacon-ing in This Market
There is certainly no shortage of Kevin Bacon-ing in this market, where bad earnings, bad data, bad anything really, is fobbed off by an army of Bacon-ites on Wall Street and in the financial media. Tech companies are judged on sequential results. So, only sequential comparisons matter. Netflix's quarterly results showed 1.95% sequential growth overall in end-of-period subscribers, with an anemic 0.61% sequential growth rate in the company's largest region, UCAN (U.S. and Canada.) Even worse, Netflix's prediction of 1 million net adds for the June quarter (globally) implies a sequential growth rate of 0.48%.
Stock Market Action Thursday: Cramer Shares Why Stocks May Fall
Here's the latest stock market news including premarket movers like Ford, buy-the-dip candidates and advice from Jim Cramer including Snap, Netflix and Boeing. Here is a recap of the latest stock market action including the top stock gainers, buy-the-dip candidates, volume leaders and advice from Jim Cramer from Wednesday, Apr. Best of Jim Cramer for ThursdayMorning Bell: Cramer discussed Apple's "Spring Loaded" event, semiconductor equipment maker ASML Holding and back-to-back selloffs in the market. Stock Market Today: Cramer shared how to trade Netflix after earnings, the CFO's departure at Boeing and markets on Wednesday. Jim Cramer Live: Cramer and Katherine Ross talked about Netflix, Boeing (BA) - Get Report, ASML Holding (ASML) - Get Report, and market rotations.
U.S. jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits. AdvertisementEconomists expect inflation to rise steadily in the coming months because prices fell about a year ago when the pandemic first hit and the economy largely shut down.
Revere wants 70 percent of city residents vaccinated by July 4
Revere Mayor Brian M. Arrigo speaks to press after visiting the COVID-19 vaccination site in Revere at Oceanside Events Center with Governor Charlie Baker on April 7. According to the statement, the city’s launching a campaign dubbed “Let’s Do This, Revere,” to meet the lofty goal of vaccinating nearly three quarters of all residents. Revere officials want 70 percent of their population vaccinated against COVID-19 by July 4, and they’re rolling out a multilingual ad campaign in an effort to make it happen, the city said in a statement Wednesday. “The ‘Let’s Do This, Revere’ campaign aims to create excitement around the possibilities of a fully vaccinated Revere. “The COVID ambassadors provide multilingual support at the Revere Board of Health vaccine clinics and help answer questions at the Revere Vaccine Hotline (781-286-8182).”As of April 15, the statement said, 23.6 percent of Revere residents had been fully vaccinated against the potentially deadly virus.
Earth Day: Do I recycle this? Does it matter?
(Photo by Paul Bersebach, Orange County Register/SCNG)Republic Services General Manager James Castro stands in front of some of the 200 bails of recyclable cardboard the company produces daily. (Photo by Paul Bersebach, Orange County Register/SCNG)Republic Services produces 200 bails of recyclable cardboard and 200 bails of paper per day that is recycled. (Photo by Paul Bersebach, Orange County Register/SCNG)Workers pre-sort items on the container line at Republic Services in Anaheim, CA on Thursday, April 15, 2021. (Photo by Paul Bersebach, Orange County Register/SCNG)A worker keeps the tip floor clean where material from recycle bins are unloaded in Anaheim, CA on Thursday, April 15, 2021. However, from 2014 to 2019, the amount of waste recycled shrunk from 50% to 37%, according to CalRecycle, the state’s solid waste agency.
This Phoenix e-bike company wants to eliminate 100 million car rides in 5 years
Zebra, the Phoenix electric bike company Napolitano founded in 2019, is the result of that risk. Napolitano used his savings so he could start the company without taking a salary as he learned more about the entrepreneurial side of the business world. It’s also way cheaper than a car,” said Rivet, who also sells solar panels as a part-time job. According to company data, 80% of clients say Zebra rides have replaced their car trips. Zebra’s goal: Eliminate 100 million car rides in the next five years and knock out 4.25 million tons of C02.
COVID economy: California unemployment claims rise slightly, stay below 100,000
Unemployment claims in California rose slightly last week and remained below 100,000 for two weeks in a row — yet jobless filings are still far above what they were before the business shutdowns to combat the coronavirus. Nationwide, unemployment claims totaled 547,000 for the week ending on April 17, a decline of 39,000 from the 586,000 claims that were filed during the week that ended on April 10, the Labor Department reported. During January and February of 2020, unemployment claims averaged 44,800 a week. But during the four most recent weeks, jobless claims in California averaged 98,500 a week. That’s more than double the weekly pre-COVID average of early 2020, this news organization’s analysis of the California filings shows.
AT&T posts quarterly profit of $7.5 billion
AT&T Inc. on Thursday reported first-quarter net income of $7.55 billion. The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. Twelve analysts surveyed by Zacks expected $42.76 billion. AT&T shares have increased nearly 5% since the beginning of the year, while the S&P’s 500 index has increased 11%.
Pipeline operator Kinder Morgan posts $1 billion windfall from Texas’ winter storm
Houston-based Kinder Morgan Inc. surprised investors with a $1 billion windfall from the historic winter storm that crippled Texas and boosted natural gas and power prices. The deadly mid-February storm swelled first-quarter results, President Kimberly Dang said during a conference call with investors on Wednesday. Kinder Morgan “was not really on anyone’s list of potential winners from Winter Storm Uri,” said Gabriel Moreen, an analyst at Mizuho Americas LLC. A Kinder Morgan spokesperson declined to comment on the figures. Investors and analysts will be closely watching for similar positive surprises among Kinder’s pipeline-sector peers as they disclose first-quarter results in coming weeks.
U.S. jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation.
Ford extends Chicago plant shutdown due to chip shortage
Ford has extended by two weeks the shutdown of its assembly plant on Chicago’s South Side, citing the global shortage of semiconductors. About 5,800 people work in Chicago to build the Ford Explorer, Lincoln Aviator and Police Interceptor SUV. A UAW spokesman said that during temporary shutdowns UAW workers get 75% to 80% of full pay, counting state unemployment benefits. It lengthened through the week of May 3 a shutdown at a plant in Oakville, Ontario, Canada. Ford has a stamping plant in Chicago Heights, home to about 1,300 workers.
US jobless claims fall to pandemic low of 547K
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. Most of the increase occurred in two states, California and Texas, which process their claims every other week. The unemployment rate fell from 6.2 percent to 6 percent, well below the pandemic peak of nearly 15 percent. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
The richest people in the world
Richest people in the world | It's true that the rich are different from you and me. To learn about the wealthiest people in the world, Stacker compiled net worth data from Forbes as of March 26, 2021. Among the top 100 richest, a noticeable number made their fortunes in China via commercial real estate, cutting-edge pharmaceuticals, e-commerce and more. It's not uncommon for the richest people in the world to be reclusive, shuttling from one luxurious home to another by private jet, protected by walls of security and windows of dark tinted glass. Keep reading to learn more about the richest people in the world and how they made their fortunes.
Readers respond: Choose green for your car
One topic you didn’t address is “greening your ride.” What we drive is one of the main contributors to global warming. We now have a great and growing selection of vehicles that can lower, or even largely eliminate, the contribution driving makes to global warming. Plug-in hybrids are even better, as they let you do most driving on electricity but switch to gas for miles-per-gallon hybrid driving for long drives. The greenest cars are all-electrics, which use no gas, are cheap to fuel, reliable and low-maintenance. And given how long today’s cars last, if we’re going to have a green driving future, we need to buy greener cars starting today.
This Is A Robbery: Coverage of the Gardner Museum Art Heist and Robert Gentile from the Courant archives
What put Robert "The Cook" Gentile at the center of the Gardner art heist mystery and why authorities pursued him relentlessly had never been explained — until this Courant article in 2016. In a series of interviews with The Courant, a longtime Gentile associate who agreed to work with the FBI said he told agents that Gentile has acted for years as if he had access to the missing art, has talked about selling it and, for a time, kept what appeared to have been a lesser-known Gardner piece — a 200-year-old gilded eagle — at a used car lot he owned in South Windsor. You can read this story here
Stocks open lower on Wall Street, led by banks and tech
Associated PressStocks are opening modestly lower on Wall Street, led by drops in banks and technology companies. The S&P 500 slipped 0.2% in the early going Thursday. The future for the S&P 500 fell less than 0.1%, as did the future contract for the Dow industrials. On Wednesday, the S&P 500 rose 0.9%, snapping a two-day slide, to close at 4,173.42. On average, analysts expect quarterly profits across the S&P 500 to climb 24% from a year earlier, according to FactSet.
ECB head: Europe "on crutches," still needs robust stimulus
David MchughAssociated PressFrankfurt, Germany – European Central Bank head Christine Lagarde said the economy is still “on crutches” and in need of support from both the central bank and government spending as the 19 countries that use the euro limp through extended lockdowns in a third wave of the COVID-19 pandemic. Lagarde spoke at a news conference after the ECB left interest rate benchmarks untouched at record lows made no adjustments to its 1.85 trillion (2.22 trillion) bond purchase stimulus it says will run at least through March, 2022. Lagarde again said that increased inflation this year, which is anticipated, would not lead the bank to tighten policy. Output is not expected to reach pre-pandemic levels until mid-2022, lagging well behind other major pillars of the global economy. The U.S. rebound is being propelled by massive relief and stimulus spending by the federal government.
Microchip shortage hits Jeep Grand Cherokee production in Detroit
Jefferson North Assembly Plant produces the Jeep Grand Cherokee and Dodge Durango SUVs. "Due to the unprecedented global microchip shortage, Jefferson North will adjust its production schedule through the end of May as we continue to build our award winning Jeep Grand Cherokee and Dodge Durango." It's scheduled to launch the next-generation Grand Cherokee in the third quarter. Four of Stellantis' North American plants remain idled through the end of April, and dealers are experiencing low inventories. Warren Truck Assembly Plant has paused the building of Ram 1500 Classic pickup trucks, while production of Chrysler minivans in Windsor, Ontario; the Jeep Cherokee in Belvidere, Illinois; and the Jeep Compass in Toluca, Mexico, also has halted.
Jaguar Land Rover halts production because of chip shortage
Associated PressLondon – Jaguar Land Rover said Thursday it’s suspending production at two U.K. factories, becoming the latest automaker to fall victim to a global shortage of microchips. The announcement is the latest to highlight the challenge the intensifying chip shortage poses to the global auto industry, which is building vehicles that are starting to resemble computers on wheels. General Motors and Ford said earlier this month they were being forced to cut production at their North American factories because of tightening chip supplies. Other marques like Fiat Chrysler, now Stellantis, Volkswagen and Honda have also been hit hard by the semiconductor shortage. As the coronavirus pandemic erupted in early 2020, chip factories started shutting down, particularly in Asia, where much of global semiconductor production is based.
Stocks open lower on Wall Street, led by banks and tech
Investors are weighing company earnings reports while keeping an eye on bond yields, which eased lower. Much of the market's focus over the next two weeks will be on individual companies and the outcome of their quarterly results. About 80 members of the S&P 500 are due to report results this week, as well as one out of every three members of the Dow. On average, analysts expect quarterly profits across the S&P 500 to climb 24% from a year earlier, according to FactSet. There are also signs of COVID infections increasing outside the U.S. in major economies such as India and Brazil once again.
In Biden climate show, watch for cajoling, conflict, pathos
Then he’ll try to cajole other nations to ratchet up the pollution-cutting promises they made in 2015’s Paris climate agreement. After the United States helped negotiate the last two climate agreements — 1997’s Kyoto Protocol and 2015’s Paris accord — Presidents George W. Bush and Donald Trump backed out. The United States last year became the only country to leave the Paris deal. “The fact that the United States is back is very important.”WHY WATCHHuman-caused climate change is getting worse around the globe. The United Nations is counting on nearly 200 nations to announce tougher emission cut targets before that meeting, which will hash out still lingering issues.
Video: Tree crashes to ground narrowly missing driver in North Carolina
Video: Moment SUV driver narrowly escapes being hit by a falling tree as it crashes onto the road bringing down power lines and traffic lightsA traveling SUV was almost hit by a falling tree in Durham, North Carolina. The vehicle passes the tree just seconds before it crashes to the ground and brings down traffic lights and electricity lines.
Video: Biden vows to cut carbon emissions in half by 2030 at climate summit
Video: 'The science is undeniable': Biden and Kamala Harris promise to slash US carbon emissions in HALF by 2030 in virtual climate summit with Putin, Xi Jinping and 38 other world leadersPresident Joe Biden issued a call to action to world leaders, asking them to work together to combat climate change as he kicked off Climate Summit. Biden pledging the country will cut emissions blamed for climate...
Boulder King Soopers gunman charged with an additional 44 counts
Rikki Olds, 25Rikki Olds, 25Olds was identified by her aunt on Facebook. A front-end manager at King Soopers, Olds aspired to work her way up the ranks at the store, her family said. Kevin Mahoney with his daughterKevin Mahoney, 61Kevin's daughter Erika Mahoney revealed that her he was also among the victims. Denny Stong, 20Denny Stong, 20Friends said Denny Stong, who was the youngest victim, was training to be a pilot. Tralona Bartkowiak, 49Tralona Bartkowiak, 49Tralona Bartkowiak ran a small clothing and artisan store in Boulder and had recently become engaged.
China's Xi says China will phase down coal consumption over 2026-2030
China's Xi says China will phase down coal consumption over 2026-2030China will start to phase down coal consumption over the 2026-2030 period as part of its efforts to reduce climate-warming greenhouse gas emissions, President Xi Jinping told the Climate Leaders' Summit on Thursday.
All you need to know about cannabis and NFTs
Share this Story: All you need to know about cannabis and NFTsAll you need to know about cannabis and NFTs Art, including weed-related art, appears all-in when it comes to betting on the possibilities of NFTs. Photo by Fire & FlowerAdvertisement Story continues below This advertisement has not loaded yet, but your article continues below. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Oregon craft cannabis farm, Alibi Cannabis, is also looking to the future.
At 'moment of peril,' Biden opens global climate summit
At 'moment of peril,' Biden opens global climate summitVideo by: David SMITHThe Biden administration has opened a global climate summit including 40 world leaders. President Joe Biden is pledging to cut at least in half the climate-wrecking coal and petroleum fumes that the US pumps out. That's a commitment Biden hopes will spur China and other big polluters to speed up efforts of their own.
Biden sees 'extraordinary economic opportunity' in climate measures
Biden sees 'extraordinary economic opportunity' in climate measuresDeclaring that the United States and other big economies must "get this done,” President Joe Biden opened a global climate summit Thursday aimed at getting world leaders to dig deeper on emissions cuts. The United States pledged to cut in half the amount of climate-wrecking coal and petroleum fumes it is pumping out. FRANCE 24's International Affairs Editor Armen Georgian tells us more.
Doug Ford apologizes for closing playgrounds, increasing police powers
Ford on Thursday promised a paid sick-leave program for Ontario workers after months of saying a provincial policy wasn't neededArticle contentTORONTO — Premier Doug Ford is promising a paid sick-leave program for Ontario workers after months of saying a provincial policy wasn’t needed. Try refreshing your browser, or Doug Ford apologizes for closing playgrounds, increasing police powers Back to videoHe says the province is now working on a solution because the federal government hasn’t expanded its own policy. An emotional premier also apologized for increasing police enforcement powers and closing playgrounds last Friday. “If we get something wrong, we’ll fix it.”Ford had steadfastly refused to introduce a sick-leave program despite COVID-19 outbreaks in workplaces. Ford is in self-isolation after a member of his staff tested positive for COVID-19 on Tuesday.
Trudeau promises to slash emissions by up to 45 per cent by 2030 after Biden pledges 50 per cent
Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
William Watson: Tories on gas — If it's not a tax it has no effect
Share this Story: William Watson: Tories on gas — If it's not a tax it has no effectWilliam Watson: Tories on gas — If it's not a tax it has no effect If their policy affects the environment, it’s only because their tax bites. The gas cost you $35, the $50 you paid minus the $15 you were immediately rebated. Try refreshing your browser, or William Watson: Tories on gas — If it's not a tax it has no effect Back to video What if the government doubles the tax? But if you don’t smoke cigars, your gas tax rebate gives you the right to buy something you’re never, ever going to buy. By contrast, the less and less desirable the listed products, the greater and greater the effect on gas consumption.
A whistleblower said Jeff Landry mishandled a child porn case. Here's what we know about it.
The family’s attorney, meanwhile, has said they have no connections to Landry or to any other prosecutors in his office — familial, friendship, business or otherwise. While the Campo family has donated generously to other causes, campaign finance records do not show any contributions to Landry’s campaigns. He pleaded not guilty to the charges last month, and a trial date has not yet been set in his case. e-mail address * Sign Up“The Campo family, the parents, do not know Jeff Landry,” said attorney Bryan Fisher, who represents the Campo family. Landry often sends out news releases announcing arrests in child porn cases, and has sent out 11 since the start of the year.
Posthaste: Why Canadians should brace for higher mortgage rates sooner than expected
The Bank of Canada took a step towards easing pandemic stimulus yesterday — the biggest yet by a major economy — with a hawkishness that surprised many observers. Previously, the Bank had forecast that slack in the economy would not be absorbed until 2023. “The Bank of Canada has made a drastic U-turn in the space of three months from being extremely cautious to being extremely upbeat. In an earlier survey done in March, more than half of economists believed the rate would hold for two or more years. James Laird, co-founder of Ratehub.ca and president of CanWise Financial mortgage brokerage, said if Canada’s recovery proves even stronger, it is possible the bank could move up its timeline further and Canadians should brace for higher mortgage rates sooner than expected.
At Earth Day climate summit, Biden promises 50% reduction in US greenhouse emissions
Boris Johnson, the United Kingdom's prime minister, called Biden's pledge "game changing" and offered a blunt retort to those who question the need to address climate change. In his opening remarks, Biden noted the U.S. represents less than 50% of the world's emissions. While other world leaders offered similarly dire assessments of the threat posed by climate change, only a few outlined aggressive new steps to address the crisis. “President Biden is unilaterally committing America to a drastic and damaging emissions pledge,” Barrasso said in a statement Thursday. He has already taken several steps to address climate change, such as pausing oil drilling on public lands and halting construction of the Keystone XL Pipeline.
Report: Watchdog Finds Trump Admin Created Obstacles That Delayed Relief Aid To Puerto Rico
The Trump administration lined up unprecedented bureaucratic obstacles that delayed approximately $20 billion in hurricane relief for Puerto Rico, according to an inspector general report that could be released publicly as soon as Thursday. Hurricanes Irma and Maria had left Puerto Rico residents without power and clean water for months after ravaging the U.S. territory in 2017. While investigators interviewed 20 current and former HUD officials and two Puerto Rico housing officials, they were unable to ever gain access to Carson, the Post said. “Since its first days, the Biden-Harris Administration has prioritized action to enable stronger recovery for Puerto Rico,” HUD Secretary Marcia Fudge said in a statement Monday. “The actions taken by HUD today will unlock access to funds Puerto Rico needs to recover from past disasters and build resilience to future storms, while ensuring transparency and accountability.”
US jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. Most of the increase occurred in two states, California and Texas, which process their claims every other week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
A moving SUV has a very close call with a massive falling tree
A moving SUV has a very close call with a massive falling treeThis SUV had a close call with a falling tree in Durham, North Carolina.
Workers file 547,000 new jobless claims in sign COVID layoffs are slowing
The Labor Department said Thursday that applications declined 39,000 from a revised 586,000 a week earlier. Weekly jobless claims are down sharply from a peak of 900,000 in early January. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. Many states have struggled to clear backlogs of unemployment applications, and suspected fraud has clouded the actual volume of job cuts. In addition, a supplemental $300-a-week federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits.
Biden announces US greenhouse gas emissions goal, cites ‘moral imperative’
President Biden, citing a “moral imperative,” has announced an ambitious goal to battle climate change by pledging to cut greenhouse gas emissions in the US by 52 percent by 2035. The president, speaking at a White House virtual summit of 40 world leaders Thursday, said that in order to keep global warming at a maximum of 1.5 degrees Celsius, nations around the globe must sign on to the effort to cut greenhouse gas emissions. We’ll create good jobs here at home for millions of Americans and lay a strong foundation with growth for the future,” he said. German Chancellor Angela Merkel attends a virtual international climate summit with US President Joe Biden in Berlin, Germany Kay Nietfeld/Pool/AP“This is a moral imperative and economic imperative. I believe that we will do this,” he told the gathering of world leaders.
How to start composting at home, even if you don’t have a yard
Here’s everything you ever wanted to know about composting but were afraid to ask:AdvertisementStory continues below advertisementQ: Ummm … What is the point of composting? Food waste accounts for the largest single source of waste in landfills, clocking in around 22 percent, according to the EPA. Composting keeps food waste out of landfills and puts it to good use growing new food. Known as “vermicomposting,” worms can eat a significant amount of food scraps each day, and then their castings (read: poop) become an excellent plant fertilizer. Bins can be made or purchased at a low cost and, if maintained properly, generate plenty of good compost for home use without much effort.
547,000 Americans filed jobless claims, a new pandemic low
But Mike Loewengart, managing director of investment strategy at eTrade, said the back-to-back reports of unexpectedly lower claims signal “significant momentum” in the labor market. Last week, 133,319 Americans filed claims for Pandemic Unemployment Assistance, for gig and self-employed workers. New York, Florida, Alabama, Washington and Georgia saw the biggest increases in first-time unemployment claims for the week ended April 10. Poverty rose to 11.7 percent in March, the highest level of the pandemic, according to research from the University of Chicago and University of Notre Dame, as Americans awaited the next round of stimulus relief. AdvertisementStory continues below advertisementMany economists describe the recovery as “K-shaped” because of its diverging prospects for the rich and poor.
Live updates Biden calls combating climate change ‘moral imperative’ as he convenes summit of world leaders
Japanese Prime Minister Yoshihide Suga announced Thursday that his country is setting a target for reducing greenhouse gas emissions, with a benchmark reduction of 46 percent by 2030 compared with 2013 levels. “Japan is ready to demonstrate its leadership for worldwide decarbonization,” Suga said at a virtual climate summit convened by the Biden administration shortly after he announced the new targets. It is a challenge that requires a whole international community to be united,” Suga added. Shortly after entering office late last year, Suga announced plans for carbon neutrality by 2050, a target similar to those set by other major industrialized countries. Climate groups had a muted reaction to the 46 percent target on Thursday.
Jeffrey Epstein’s Palm Beach estate has been demolished
The Florida mansion where prosecutors say Jeffrey Epstien raped underage girls and women for many years has "finally" been demolished. Developer Todd Michael Glaser said the sprawling Palm Beach property met the wrecking ball on Monday, according to a report in The Palm Beach Daily News. Glaser bought 358 El Brillo Way for $18.5 million in March, and announced his plans to raze the property. "I only got involved in the sale of Jeffrey Epstein’s residence to ensure it would be wiped off the map of Palm Beach," Lawrence Moens reportedly said. The 14,223-square-foot 1952 six-bedroom mansion, staff house and pool house on the Intracoastal Waterway were demolished to make way for a new property.
The auto industry 'has to move' on electrification as consumers become more conscious, Nissan CEO says
Nissan recently announced its goal to be carbon-neutral by 2050, and plans to electrify 100% of its new vehicles on offer by the early 2030s. The fully electric Nissan Leaf hit 500,000 units in sales in 2020, a car that the company has been producing since 2010. And in 2020, market research firm Fortune Business Insights valued the EV industry at around $250 billion. Zurich Insurance has set new climate targets for its investments and operations as it seeks to become a net zero emissions business by 2050. "And insurance can support this transformation — the thing insurance cannot do is to pay just the damages of the climate transformation.
Green infrastructure, not bitcoin could be the next asset bubble: Strategist
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreen infrastructure, not bitcoin could be the next asset bubble: StrategistJeff Kleintop from Charles Schwab thinks green infrastructure could approach bubble status, but initially expects good earnings momentum for stocks in the sector.
Sustainable investing is not new to China — but complying to a formal framework is, says CEO
Asset managers in China are no strangers to sustainable investing — but doing so in a way that fits into formal social responsibility frameworks is still "relatively new," said the chief executive of a Chinese financial services company. ESG — or environmental, social and governance — refers to a set of criteria used to measure a company's performance in areas ranging from carbon emissions, to contributions to society and staff diversity. "Responsible investing and looking at the long-term sustainability of our portfolio is not new to the investment community in China, but we didn't really comply it within the regime of ESG," Li Yimei, CEO of China Asset Management, told CNBC's "Squawk Box Asia" on Wednesday. Li gave an example of a home appliance company that had initiatives to recycle metal waste and manage their supply chain in an environmentally friendly way. The firm's sustainability efforts were not formally disclosed to the public, and it was given a low score on MSCI's ESG Rating.
American Airlines CEO: Cash flow will continue to accelerate into Q2
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican Airlines CEO: Cash flow will continue to accelerate into Q2"The story of the quarter was acceleration at the tail end. We got to where we were cash positive in the month of March," American Airlines CEO Doug Parker told CNBC's Phil LeBeau Thursday. "[There was] real acceleration throughout the quarter and that's continuing now as we head into the second quarter."
Full interview with American Airlines CEO on Q1 loss, cash flow and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with American Airlines CEO on Q1 loss, cash flow and moreAmerican Airlines reported a loss of $4.32 per share for the first quarter, one cent a share wider than consensus estimates. The stock rallied 3.6% premarket after American said its cash flow turned positive by the end of the quarter, excluding debt payments. American Airlines CEO Doug Parker joined "Squawk Box" on Thursday to discuss.
If fundamentals change, you can seriously impact CO2 levels: Expert
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf fundamentals change, you can seriously impact CO2 levels: ExpertPolicy Exchange's Senior Adviser for Energy and Environment, Benedict McAleenan, discusses the Biden Climate Summit and what to expect in terms of global cooperation to address climate change.
U.S. weekly jobless claims total 547,000 vs. 603,000 estimate
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. weekly jobless claims total 547,000 vs. 603,000 estimateThe plodding jobs market recovery accelerated its pace last week as fewer Americans headed to the unemployment line, the Labor Department reported Thursday. CNBC's Rick Santelli and Steve Liesman break down the numbers.
Full interview with Blackstone president on Q1 results, future investments and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with Blackstone president on Q1 results, future investments and moreJon Gray, president and chief operating officer of the Blackstone Group, joined "Squawk Box" on Thursday to discuss the company's first-quarter numbers, future investments, market sentiment and more.
Full interview with AT&T CEO on Q1 earnings beat, HBO Max, 5G and more
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with AT&T CEO on Q1 earnings beat, HBO Max, 5G and moreAT&T reported quarterly earnings of 86 cents per share, 8 cents a share above estimates. Revenue also came in above forecasts and AT&T added more wireless customers during the quarter than analysts had anticipated. The stock rose about 3.5% in premarket trading. AT&T CEO John Stankey joined "Squawk Box" on Thursday to discuss the results.
Raising corporate taxes 'makes no sense': Far Peak's Tom Farley
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaising corporate taxes 'makes no sense': Far Peak's Tom FarleyTom Farley, chairman and CEO of Far Peak and former NYSE president, joined "Squawk Box" on Thursday to discuss what he thinks about President Joe Biden's sweeping infrastructure proposal, which Democrats propose should be paid for through a higher corporate tax.
Here are Thursday's biggest analyst calls of the day: Tesla, Amazon, Alphabet, Microsoft & more
Here are Thursday's biggest analyst calls of the day: Tesla, Amazon, Alphabet, Microsoft & morePublished Thu, Apr 22 2021 8:14 AM EDT
AT&T CEO John Stankey on Q1 earnings, maintaining the dividend
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAT&T CEO John Stankey on Q1 earnings, maintaining the dividendAT&T CEO John Stankey joined "Squawk Box" on Thursday to discuss the company's first-quarter results and how the company plans to increase the dividend by focusing on getting the stock price up
Blackstone president on Q1 earnings beat, investment strategy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackstone president on Q1 earnings beat, investment strategyJon Gray, president and chief operating officer of the Blackstone Group, joined "Squawk Box" on Thursday to discuss how the company's "thematic" approach to investing helped position it to post an earnings beat in the first quarter.
Lagarde: Headline inflation expected to increase in coming year
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLagarde: Headline inflation expected to increase in coming yearCNBC's Steve Liesman reports on the latest comments from European Central Bank President Christine Lagarde on growth, inflation expectations and more.
North American chip firm Alphawave opts for London over New York in upcoming IPO
LONDON – Canadian chip firm Alphawave is set to list on the London Stock Exchange, shunning New York's tech-focused Nasdaq stock market in the process. The four-year-old company, which makes chip technology that can help data flow through networks faster, announced Thursday that it intends to raise around $500 million in an initial public offering on the main market of the London Stock Exchange. Founded by Tony Pialis, Jonathan Rogers and Raj Mahadevan in Toronto, Alphawave has said it plans to set up a research lab in Cambridge, where chip designer Arm is also headquartered. BlackRock has pledged to buy $390 million worth of shares at an equity value of up to $4.5 billion, while asset manager Janus Henderson has agreed to buy £85 million worth of shares, or $120 million. It's a rare example of a North American tech firm crossing the Atlantic to list on the London Stock Exchange and a potential boost for the U.K. stock market, which is under the spotlight after food delivery service Deliveroo had a disastrous listing late last month.
Watch Christine Lagarde speaking after the ECB's latest rate decision
[The stream is slated to start at 08:30 ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision. The ECB held off making any significant moves Thursday, keeping interest rates and coronavirus stimulus unchanged. Investors will likely look out for any comments from Lagarde on when its massive monetary stimulus might start to be wound down.
Citi hikes Tesla earnings estimates, but still sees big drop in the stock ahead
A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York. One of the most bearish Wall Street firms on Tesla thinks the automaker will meet expectations in its first-quarter earnings report. Citi hiked its earnings estimate for Elon Musk's company on Thursday, citing Tesla's record deliveries number in the first quarter and saying that there was upside potential heading into the report.
Jobless claims fall again as employment picture gains strength
First-time claims for unemployment insurance totaled 547,000, well below the Dow Jones estimate for 603,000 and a new low for the Covid-19 pandemic era. The total represented a further decline in claims and gets the jobs picture closer to where it was pre-pandemic, though there's still plenty of distance to cover. Some 17.4 million Americans are still receiving benefits under various programs, though that data runs two weeks behind the weekly applications claims number. Sharp increases in those applying for benefits through pandemic-related programs boosted the total recipients by nearly half a million. Continuing claims, which run a week behind the headline data, also fell, dropping 34,000 to 3.67 million, a fresh pandemic low and another indication that conditions are thawing.
Jaguar Land Rover, Daimler production scaled back due to global chip shortage
LONDON – The global chip shortage is continuing to wreak havoc at some of the world's biggest carmakers. Britain's Jaguar Land Rover announced Thursday that it has been forced to stop car production for a "limited period" at its Castle Bromwich and Halewood manufacturing plants in England as a result of the chip shortage, which has been going on for several months now. The Coventry-headquartered firm — which produces cars like the popular Range Rover Evoque, the iconic Land Rover Defender, and the Jaguar F-Pace SUV — said production will continue at its Solihull plant near Birmingham while its other factories are out of action. Jaguar Land Rover's announcement comes just two months after the company announced it was going to cut 2,000 non-factory jobs. "Currently, there is a worldwide supply shortage of certain semiconductor components," a spokesperson reportedly told Reuters.
Is the US recovery approaching its peak?
You can sign up right hereLondon (CNN Business) Bolstered by strong data, investors are expressing plenty of faith in the power of the global economic recovery . What's happening:analysts predict that US economic growth will slow after the April-to-June period this year. The team then expects economic growth to "slow modestly" between July and September and "decline sequentially during the next several quarters." Meanwhile, the full economic recovery could be delayed in important engines of growth like India, which is currently in the throes of a devastating second coronavirus wave . Other members of the executive board will not receive bonuses for 2020, and board chairman Urs Rohner will give up 1.5 million Swiss francs ($1.6 million) in compensation.
Bitcoin? Ethereum? Dogecoin? Your guide to the biggest names in crypto
BitcoinBitcoin is the biggest and most recognized fish in the crypto sea, with a market cap of more than $1 trillion. Binance CoinThe third-largest crypto with a market cap of nearly $90 billion, Binance Coin is a bit of a different beast. The neat thing about Ripple is that any currency — digital or otherwise — can be exchanged for another. Its market cap briefly grew to more than $40 billion and it's competing with Tether for spot number five on the list of biggest cryptos. It even briefly overtook XRP as the fourth-largest cryptocurrency by market cap in April.
Opinion: 5 ways businesses can be more aggressive about climate change
This Earth Day, President Biden will bring together government leaders from around the world for a climate summit aimed at accelerating efforts to meet the goals of the Paris Agreement. But President Biden and other country leaders are not alone in tackling the climate crisis. companies, including major names from the technology, food and hospitality sectors, collectively lowered their emissions by 25% between 2015 and 2019. The private sector, in particular, has been instrumental in driving US action on climate change. We urge business leaders to raise their climate ambitions and commit to more aggressive action.
This Amazon-backed startup is trying to save the planet, one motor at a time
New York (CNN Business) Turntide Technologies is on a mission to save the planet , one motor at a time. Turntide says companies like Amazon and Five Guys that retrofitted their old motors with its smart motor have reduced their heating and cooling motor energy consumption by an average of 64%. Turntide says companies that retrofitted their old motors with its smart motor have reduced their heating and cooling motor energy consumption by an average of 64%. Beyond deploying Turntide's smart motor system in its own facilities, it also invested in the startup through the Amazon Climate Pledge Fund. The early focus is on upgrading the HVAC motors used to power commercial buildings and to retrofit the systems used to keep cows cool on dairy farms.
U.S. weekly jobless claims fall to new one-year low
Initial claims for state unemployment benefits decreased 39,000 to a seasonally adjusted 547,000 for the week ended April 17, the lowest since mid-March 2020. In a healthy labor market, claims are normally in a range of 200,000 to 250,000. Last week's claims data covered the period during which the government surveyed business establishments for the nonfarm payrolls component of April's employment report. Claims are generally considered a leading labor market indicator, but they have lagged employment during the pandemic. "The magnitude of the decline in claims suggests a marked improvement in the economy and the labor market as COVID restrictions continue to be eased."
Blackstone's first-quarter earnings surge as it cashes out on assets
Dealmaking activity surged in the quarter as a booming stock market and low borrowing costs emboldened private equity firms to sell some of their assets for top dollar. L8N2LR63LBlackstone reported distributable earnings per share of $96, surpassing the average Wall Street analyst estimate of 76 cents, according to financial data provider Refinitiv. In its push to cash out on assets in the quarter, Blackstone floated app Bumble Inc (BMBL.O) in the stock market in a $2.2 billion initial public offering. L4N2KH2LBlackstone said its private equity portfolio appreciated 15.3% in the quarter, compared with an 5.8% rise in the benchmark S&P 500 stock index over the same period. Total assets under management rose to $648.8 billion, from $618.6 billion in the previous quarter, driven by strong fundraising.
COVID-19 spike is biggest challenge to India's recovery-MPC minutes
REUTERS/Altaf Hussain/File PhotoA steep rise in COVID-19 infections across the country is the single biggest challenge to economic recovery, Reserve Bank of India Governor Shaktikanta Das wrote in his monetary policy committee (MPC) meeting minutes released on Thursday. read moreAll six members highlighted the increased risks to economic recovery from the recent steep rise in coronavirus infections and said monetary policy must continue to support growth. "Rapidly rising cases of COVID-19 is the single biggest challenge to ongoing recovery in the Indian economy. The need of the hour is to effectively secure the economic recovery under way so that it becomes broad-based and durable," Das said. With inflation risks looming, the ability to lower rates further to support growth remains limited.
Brazil March industrial confidence at 7-month low, hammered by COVID
Brazilian industrial confidence fell in March for a third month to its lowest since last August, a survey showed on Friday, as a second COVID-19 wave triggers new lockdown measures in many states. The Fundacao Getulio Vargas's national industrial confidence index for March fell 3.7 points to a seasonally adjusted 104.2 from 107.9 in February. The central bank on Thursday revised up its 2021 outlook for the sector in its quarterly inflation report. It now expects industrial production to grow 6.4% this year, up from 5.1% in its last report. That would more than make up for downwardly-revised growth in the civil construction and power sectors, the central bank said.
EU defends its push for rules on company ‘green’ reporting
Investors have called for global standards to replace a patchwork of norms now emerging, to make comparisons between companies easier and avoid 'greenwashing' or firms overplaying their green credentials. Global financial regulators have also thrown their weight behind the proposed new sustainability standards board, but it has not stopped the EU from pushing ahead on its own. "At the moment we have a confused situation, an array of different standards companies can use," she said. Axel Weber, chairman of UBS bank, said global financial institutions need international rules to create a mobile pool of capital that can invest in climate-friendly assets anywhere. "It's good we are seeing a European approach as opposed to a fragmented approach we have seen in Europe many times in the past, but we need a global approach," Weber said.
US airline bailout helps Southwest post $116 million profit
DALLAS (AP) — Southwest Airlines is the first major U.S. airline to report a profit since the pandemic started, as federal payroll aid helped boost the company to net income of $116 million in the first quarter. Without the federal money, Southwest would have lost $1 billion in the quarter. The airline said Thursday that bookings for leisure trips within the United States have been improving each week since mid-February. Without Southwest’s share of that aid and other temporary items, Southwest would have lost $1.72 per share. Southwest posted revenue of $2.05 billion, slightly above the analysts’ prediction of $2.03 billion.
TCF Financial: Q1 Earnings Snapshot
DETROIT (AP) _ TCF Financial Corporation (TCF) on Thursday reported first-quarter net income of $123.3 million. The bank, based in Detroit, said it had earnings of 79 cents per share. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share. TCF Financial shares have climbed 25% since the beginning of the year. Access a Zacks stock report on TCF at https://www.zacks.com/ap/TCF
Central Valley Community Bancorp: Q1 Earnings Snapshot
FRESNO, Calif. (AP) _ Central Valley Community Bancorp (CVCY) on Thursday reported first-quarter profit of $7.5 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share. The holding company for Central Valley Community Bank posted revenue of $19.8 million in the period. Central Valley Community Bancorp shares have increased 32% since the beginning of the year. Access a Zacks stock report on CVCY at https://www.zacks.com/ap/CVCY
1st Source: Q1 Earnings Snapshot
SOUTH BEND, Ind. (AP) _ 1st Source Corp. (SRCE) on Thursday reported first-quarter net income of $28.1 million. The bank, based in South Bend, Indiana, said it had earnings of $1.10 per share. The holding company for 1st Source Bank posted revenue of $88.2 million in the period. Access a Zacks stock report on SRCE at https://www.zacks.com/ap/SRCE
Old Republic: Q1 Earnings Snapshot
CHICAGO (AP) _ Old Republic International Corp. (ORI) on Thursday reported first-quarter net income of $502.1 million, after reporting a loss in the same period a year earlier. Its adjusted revenue was $1.98 billion. Old Republic shares have risen 21% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORI at https://www.zacks.com/ap/ORI
Famous T. Rowe Price Fund Takes New Name, Targets More Cyclical Stocks
The $8.4 billion T. Rowe Price All-Cap Opportunities Fund (PRWAX), one of the best-known and best mutual funds, is pouncing on more cyclical stocks that are poised to benefit from a reopening of the economy. He also invests mainly in growth stocks, but likes the freedom to invest in value stocks as well. "Most of the things I've bought aren't in the growth benchmark but are still growth," White said. Microsoft Helps Make All-Cap One Of The Best Mutual FundsHow does Microsoft (MSFT) help make All-Cap Opportunities one of the best mutual funds? Follow Paul Katzeff on Twitter at @IBD_PKatzeff for tips about retirement planning and active mutual fund managers who consistently outperform the market.
ARK Invest Stocks To Buy And Watch: 6 Stocks That Cathie Wood's ARK ETFs Own; Coinbase, Tesla Fall
Cathie Wood's ARK Invest ETFs are some of the hottest funds after 2020's huge stock market gains. Six ARK Invest stocks to buy and watch are Coinbase, DraftKings, Sea Limited, Square, Teladoc Health and Tesla. XARK ETFsThe ARK Invest investment company's flagship fund is ARK Innovation ETF (ARKK). The new stake in Coinbase represents another one of the Ark Invest stocks that offers more exposure to cryptocurrencies. Teladoc is one of the biggest ARK Invest stocks, with an over-6% portfolio weighting in the ARKK portfolio.
Dow Jones Today, Nasdaq Futures Flat; Jobs Data Improve; AT&T Climbs On Earnings; Equifax, Teradata Spike
Stock futures trimmed early losses and small caps turned positive Thursday, following a second-straight improvement in weekly unemployment data. XEarly action flattened, with Dow Jones futures and S&P 500 futures and Nasdaq 100 futures hovering a fraction below fair value. Shares of data warehousing leader Teradata (TDC) spiked 28%, after the company significantly raised its first-quarter earnings guidance. Disney Leads Dow Jones Today, Intel Earnings DueWalt Disney (DIS) pared its early gain to 0.6%, leading the Dow Jones today. S&P 500, Nasdaq And Dow Jones TodayThe S&P 500 and the Dow Jones today look to open just a whisper away from new highs.
Top Copper Miner's Stock Slips After Mixed Earnings Report
Freeport-McMoRan (FCX) reported mixed results for fiscal Q1 as Southern Copper (SCCO) awaits. FCX stock and SCCO stock slipped. Stock: Shares of the top copper producer fell 1.7% to 35.28 in premarket stock market trading Thursday. IBD Live: A New Tool For Daily Stock Market AnalysisSouthern Copper EarningsEstimates: Analysts forecast Southern Copper earnings will climb 204% to 85 cents, per Zacks. Both FCX stock and SCCO stock rallied hard in the past year, due in part to President's Biden infrastructure agenda.
Biogen Tops First-Quarter Expectations And Boosts Earnings Outlook
Biogen stock rose moderately on Thursday after the biotech company reported adjusted earnings of $5.34 per share on $2.69 billion in sales for the quarter ended March 31. XAnalysts polled by FactSet expected Biogen (BIIB) earnings of $4.97 per share and $2.65 billion in sales. In the year-earlier quarter, Biogen earned $9.14 per share on $3.53 billion in sales. For the year, Biogen guided to adjusted earnings of $17.50-$19 per share on $10.45 billion to $10.75 billion in sales. In premarket trading on the stock market today, Biogen stock was up 1.4% near 273.50.
Privia Health sets IPO terms, that could value that company at up to $2 billion
Privia Health Group Inc. PRVA, has set terms for its initial public offering, as the Virginia-based provider of services to optimize physician practices could be valued at up to $1.97 billion. The IPO is expected to price between $17 and $19 a share. The company is offering 2.8 million shares in the IPO, to raise up to $53.2 million, while selling shareholders are offering 16.7 million shares to raise up to $317.3 million. The company recorded net income of $31.2 million on revenue of $817.1 million in 2020, after net income of $8.2 million on revenue of $786.4 million in 2019. The company is looking to go public at a time of tempered investor demand for IPOs, as the Renaissance IPO ETF IPO, +0.64% has dropped 11.5% over the past three months while the S&P 500 SPX, -0.27% has gained 8.6%.
AT&T Stock Climbed After It Reported Earnings. Here Are the Numbers to Know.
AT&T reported a blowout quarter of mobile and streaming subscriber growth, and added better-than-expected earnings and revenues to boot. AT&T is focused on three core areas of its business these days: AT&T 5G, HBO Max, and AT&T Fiber. Management expects to have up to 150 million streaming subscribers by 2025, when the service could first break even. AT&T had a strong quarter of wireless subscriber growth as well. In today’s buy-first-and-ask-questions-later market, big wireless and streaming subscriber growth and a top- and bottom-line beat was more than enough to send AT&T shares higher.
Why Bitcoin Might Be Good for the Environment, According to Cathie Wood’s ARK Invest
And Cathie Wood’s ARK Invest has a message: Bitcoin mining can be good for the environment. That the argument Brett Winton, director of research at ARK Invest, made in a blog post Wednesday. But as long as Bitcoin keeps rising, don’t expect the conversation of its environmental impact to go away. The invite list includes Russian President Vladimir Putin and China’s President Xi Jinping, who will speak Thursday by videoconference. Xi has said China’s carbon emissions would peak by 2030 and that it would achieve net-zero carbon-dioxide emissions by 2060 .
Expectations for Starbucks Stock May Be Too High Ahead of Earnings
With its focus on cafes and breakfast, Starbucks was one of the restaurants hardest hit by the pandemic’s mandatory closures and remote working trends. The stock has rebounded strongly—but expectations are now on the high side, warns MKM Partners. Analyst Brett Levy reiterated a Neutral rating on Starbucks shares (ticker: SBUX) on Thursday, though he raised his fair-value estimate to $117 from $105. The flip side is that “expectations remain high for Starbucks earnings and its elevated valuation as the company has been successful in driving near-term fundamental improvements and fortifying its long-term plan,” he writes. Starbucks stock is up 9% year to date and has gained more than 55% in the past 12 months.
Zymergen's upsized IPO prices at top of expected range, valuing 'biofacturing' company at $3 billion
Zymergen Inc. ZY, is set to go public Thursday, after the biofacturing company's upsized initial public offering priced at $31 a share, at the top of the expected range. The company sold 16.13 million shares in the IPO, up from previous expectations of 13.6 million shares, to raise $500.0 million. The IPO pricing values the company at about $2.96 billion. The stock is expected to begin trading Thursday on the Nasdaq under the ticker symbol "ZY." The company is going public at a time that the Renaissance IPO ETF IPO, +0.64% has dropped 11.5% over the past three months while the S&P 500 SPX, -0.25% has gained 8.6%.
Fisker Stock Is Tumbling and Equifax Is Soaring but the Stock Market Is Doing Nothing at All
The result Thursday was a pandemic low, as reopening and fiscal stimulus helps fuel a recovery in the job market. Here were some notable stock movers:Teradata Corporation (TDC) shares soared 29% after the company pre-announced better-than-expected results for its quarter ended in March. Fisker (FSR) shares fell 9% after Goldman Sachs downgraded the stock to Sell from Neutral. Ford (F) shares rose more than 2% after Wolfe Research upgraded the stock to Outperform from Peer Perform. Shares of First Solar (FSLR) rose almost 2% after Barclays upgraded the stock to Equal Weight from Under Weight.
American Airlines reports wider-than-expected loss and revenue falls shy, but cash burn reduced again; stock jumps
Shares of American Airlines Group Inc. AAL, -0.77% jumped 3.0% in premarket trading Thursday, after the air carrier reported a wider-than-expected first-quarter loss and revenue that fell shy, but showed continued improvement in cash burn. Net losses narrowed to $1.25 billion, or $1.97 a share, from $2.24 billion, or $5.26 a share, in the year-ago period. Revenue dropped 52.9% to $4.01 billion, just below the FactSet consensus of $4.04 billion, as passenger revenue fell 58.6%. Average daily cash burn was $27 million, including $4 million per day in March, compared average daily cash burn of $30 million in the fourth quarter and $44 million in the third quarter. Global Jets ETF JETS, -0.06% has climbed 14.5% and the S&P 500 SPX, -0.25% has advanced 11.1%.
Southwest Airlines stock rallies after narrower-than-expected loss, raised April outlook
Shares of Southwest Airlines Co. LUV, +1.23% rallied 1.3% in premarket trading, after the air carrier reported a narrower-than-expected first-quarter loss but revenue that fell just shy of forecasts, but increased its April outlook for revenue and load factor. Total revenue fell 51.5% to $2.05 billion, just shy of the FactSet consensus of $2.07 billion. Load factor fell to 64.3% from 67.7% but topped expectations of 59.6%. Average daily cash burn was $13 million, including average cash burn of $9 million per day in March. The company expects second-quarter average daily cash burn of $2 million to $4 million.
Stocks edge lower at open despite slide in jobless claims
U.S. stocks fell slightly at the start of Thursday's session as investors sifted through corporate earnings and a drop in unemployment claims to a pandemic low. The S&P 500 SPX, -0.25% fell 0.2% to 4,165. First-time jobless claims fell by 39,000 to 547,000 in the week ended April 17, the lowest since before the pandemic struck. Continuing claims fell 34,000 to 3.67 million as of April 10. Shares of AT&T Inc. T, +3.89% rose 4% after reporting first-quarter results early Thursday.
Privia Health sets IPO terms, that could value that company at up to $2 billion
Privia Health Group Inc. PRVA, has set terms for its initial public offering, as the Virginia-based provider of services to optimize physician practices could be valued at up to $1.97 billion. The IPO is expected to price between $17 and $19 a share. The company is offering 2.8 million shares in the IPO, to raise up to $53.2 million, while selling shareholders are offering 16.7 million shares to raise up to $317.3 million. The company recorded net income of $31.2 million on revenue of $817.1 million in 2020, after net income of $8.2 million on revenue of $786.4 million in 2019. The company is looking to go public at a time of tempered investor demand for IPOs, as the Renaissance IPO ETF IPO, +0.64% has dropped 11.5% over the past three months while the S&P 500 SPX, -0.25% has gained 8.6%.
Volvo Crushed Earnings. The Truck Maker Can Shrug Off the Chip Shortage.
Volvo stock jumped early on Thursday, as the Swedish truck maker crushed earnings expectations in the first quarter amid surging demand. The stock rose more than 3% after the earnings, despite the company reiterating its warning over the global chip shortage, which has hit the automobile industry in recent weeks. Production problems may be looming in the not-too-distant future but, unlike Renault, Volvo had a bumper first quarter as earnings convincingly beat expectations. The global chip shortage has been hampering the automobile industry so far this year with Ford, Volkswagen and General Motors among those also highlighting problems. They shrugged off the production warning and said that better first-quarter earnings and a low risk of cancellations supports a production catch up in the second half of the year.
U.S. weekly jobless claims keep falling to new post-pandemic lows
The numbers: Jobless benefit claims fell to 574,000 last week from a revised 586,000 a week earlier, the U.S. Labor Department said Thursday. It is the second straight week with a significant drop in claims, which are now at their lowest level since mid-March 2020. Claims in the prior week were revised from the prior estimate of 576,000. That is also the lowest level since last March. This is also the lowest level since last March.
Stocks edge lower at open despite slide in jobless claims
U.S. stocks fell slightly at the start of Thursday's session as investors sifted through corporate earnings and a drop in unemployment claims to a pandemic low. The S&P 500 SPX, -0.24% fell 0.2% to 4,165. First-time jobless claims fell by 39,000 to 547,000 in the week ended April 17, the lowest since before the pandemic struck. Continuing claims fell 34,000 to 3.67 million as of April 10. Shares of AT&T Inc. T, +4.05% rose 4% after reporting first-quarter results early Thursday.
AT&T Stock Climbed After It Reported Earnings. Here Are the Numbers to Know.
AT&T reported a blowout quarter of mobile and streaming subscriber growth, and added better-than-expected earnings and revenues to boot. AT&T is focused on three core areas of its business these days: AT&T 5G, HBO Max, and AT&T Fiber. Management expects to have up to 150 million streaming subscribers by 2025, when the service could first break even. AT&T had a strong quarter of wireless subscriber growth as well. In today’s buy-first-and-ask-questions-later market, big wireless and streaming subscriber growth and a top- and bottom-line beat was more than enough to send AT&T shares higher.
Dow Earnings Smashed Expectations. Investors Should Take Note.
Not even winter storm Uri—which severely disrupted Texas chemical production—could derail earnings, with chemical demand so strong. For the first quarter, Dow (ticker: DOW) reported adjusted earnings of $1.36 a share from $11.9 billion in sales. “Our second quarter will be the strongest earnings quarter for new Dow or old Dow,” says CFO Howard Ungerleider. Dow stock was down 0.3% in recent premarket trading. Year to date, Dow stock is up about 17%, a little better than comparable gains of the broader market.
Nucor posts record profit as selling prices jump
Nucor Corp. said strong demand and higher average selling prices brought the company to its most profitable quarter on record. The steel maker on Thursday posted a net income attributable to shareholders of $942.4 million for the first quarter, compared with $20.33 million in the comparable quarter last year. Earnings were $3.10 a share, compared with 7 cents a share in the prior year.
Turks Suspect Big Crypto Losses as Exchange CEO Flees Abroad
The World Bank told them just this week that they must prepare for the possibility of their recoveries losing steam. It’s an ominous sign of history repeating itself.”Markets are showing signs of jitters. A gauge of stocks in Asia has lagged global peers this month, while the Indian rupee is this week’s worst-performing currency in the region. The IMF currently expects the world economy to grow 6% this year, the most in four decades of data. (Updates with Nestle in 11th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Kandji nabs $60M Series B as Apple device management platform continues to thrive
During the pandemic, having an automated solution for onboarding and updating Apple devices remotely has been essential, and today Kandji, a startup that helps IT do just that, announced a hefty $60 million Series B investment. Felicis Ventures led the round with participation from SVB Capital, Greycroft, Okta Ventures and The Spruce House Partnership. Today's round comes just 7 months after a $21 million Series A, bringing the total raised across three rounds to $88.5 million, according to the company. CEO Adam Pettit says that the company has been growing in leaps in bounds since the funding round last October. While Pettit didn't want to discuss exact revenue numbers, he did say that it has tripled since the Series A announcement.
AT&T Stock Rises As Wireless Subscriber Additions Beat, WarnerMedia Rebounds
They also tally with the view of some economists that the central bank’s adjustments were intended to make it easier to dial back stimulus.BOJ Seen Tweaking Economic Forecasts, Standing Pat: SurveyThe BOJ says the fine-tuning was aimed at making its stimulus more sustainable over the longer term after its biggest policy review since 2016. Around half of economists agree that the tweaks shored up the stimulus framework, but about 40% see them as a step toward policy normalization, according to a Bloomberg survey.A key point of the adjustments was making the buying of exchange-traded funds more flexible, Hayakawa said. The BOJ had already made its bond buying more flexible by changing its focus to interest rates in 2016 and by removing a purchase guideline last year, he said.The ETF buying had attracted increasing criticism that the bank was helping prop up stock prices already at three-decade highs.The bank demonstrated its new flexibility on Tuesday when it didn’t buy ETFs for the first time since at least 2016 even after the Topix stock index fell more than 1% in the morning session. On Wednesday the bank did buy ETFs, but only after stocks dropped 2.2% in the morning.“It’s not worth making problems bigger and bigger through massive bond or ETF buying,” said Hayakawa, who left the bank in 2013 and has generally taken a skeptical view of Kuroda’s efforts to reflate the economy. “Those purchases aren’t bringing the bank any closer to its inflation target.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
HBO And HBO Max Add 2.7M Subscribers In Q1, AT&T Reports As It Beats Wall Street Earnings Expectations
On a combined basis, HBO and streaming service HBO Max added 2.7 subscribers in the first quarter, WarnerMedia parent AT&T reported. HBO Max, the nearly year-old service available at no extra cost to HBO subscribers, propelled the overall HBO number to 44.2 million subscribers. Content revenues increased, which the company attributed to higher sales to HBO Max for theatrical product and basic networks licensing. Those gains were partly offset by lower TV product licensing from prior-year licensing to HBO Max. Globally, HBO and HBO Max reached 63.9 million subscribers.
AT&T beats revenue estimates as reopening helps phone sales
The company said on Thursday it added 595,000 net wireless phone subscribers in the first quarter, more than double what analysts had expected. The services now have a total of 44.2 million U.S. subscribers, AT&T said. Wireless phone churn, or the rate of customer defections, declined 0.1% in the first quarter to 0.76%. The improvements were, in part, due to the bundling of HBO Max to higher-priced phone plans. Revenue for AT&T was up nearly 3% at $43.9 billion, beating analysts' average estimate of $42.69 billion, according to IBES data from Refinitiv.
German court refuses effort to block EU recovery fund
Germany's participation was approved by a wide majority in the parliament March 25. The Lucke group filed suit immediately, asking the court to halt Germany's participation in the fund until the case could be decided on its merits. Wednesday's rejection of that request by the court opens the way for President Frank-Walter Steinmeier to sign the legislation governing Germany's participation into law. The economic stimulus from the fund is intended to buttress monetary support from the European Central Bank in the form of bond purchases and rock bottom interest rate benchmarks. Analysts have downplayed its chances of success, but said any delay could hurt the recovery.
First-time unemployment claims fall to pandemic low of 547,000
The number of Americans filing for first-time jobless claims last week fell to the lowest level since the outbreak of COVID-19, according to the Labor Department. Data released Thursday showed 547,000 Americans filed for first-time unemployment benefits in the week ended April 17, below the 617,000 that analysts surveyed by Refinitiv were anticipating. About 8 million fewer Americans are working now than before the pandemic. Continuing claims for the week ended April 10, meanwhile, fell to 3.674 million, but were above the 3.667 million that was expected. Despite the decline in both initial and continuing claims, the number of Americans receiving some form of jobless benefits rose by more than 491,000 to 17.4 million.
How to pay off your mortgage early: 5 of the best options to explore
And once that mortgage is paid off, you free up a lot of extra money in your budget. Switch to biweekly mortgage paymentsSwitching from monthly to biweekly mortgage payments can help you to pay down your mortgage faster. Depending on your interest rate, this could help you to pay off your mortgage around five years early. HOW TO LOWER YOUR MORTGAGE PAYMENTS DURING COVID-19Next stepsPaying off your mortgage early can provide you both emotional and financial freedom. Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.
American Airlines posts $1.25B loss, delays new jets
American Airlines said Thursday that it lost $1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic. With less traffic, American reached a deal with Boeing to delay delivery of 23 737 Max jets until 2023 and 2024 and convert five of those to a larger version of the plane. American expects to take 14 Max jets over the next 12 months. A year ago, when the pandemic was just starting to hit the U.S., American lost $2.24 billion. Shares of Texas-based American Airlines Group Inc. rose 2% in trading before the opening bell.
Today's mortgage rates largely hold steady at record lows | April 22, 2021
Based on data compiled by Credible, mortgage rates remained largely unchanged since yesterday, except for 15-year rates, which creeped up incrementally. 30-year fixed mortgage rates: 2.875%, Unchanging2.875%, Unchanging 20-year fixed mortgage rates: 2.625%, Unchanging2.625%, Unchanging 15-year fixed mortgage rates: 2.250%, Up from 2.125%, +0.1252.250%, Up from 2.125%, +0.125 10-year fixed mortgage rates: 2.000%, UnchangingRates last updated on April 22, 2021. Looking at today’s mortgage refinance ratesToday’s mortgage refinance rates fell as 30-year loans finally budged from 3% after holding steady for six consecutive days. How mortgage rates have changedToday, mortgage rates are down compared to this time last week. 30-year fixed mortgage rates: 2.875%, down from 3.000% last week, -0.1252.875%, down from 3.000% last week, -0.125 20-year fixed mortgage rates: 2.625%, down from 2.750% last week, -0.1252.625%, down from 2.750% last week, -0.125 15-year fixed mortgage rates: 2.250%, down from 2.375% last week, -0.1252.250%, down from 2.375% last week, -0.125 10-year fixed mortgage rates: 2.000%, down from 2.125% last week, -0.125Rates last updated on April 22, 2021.
Today's mortgage refinance rates continue freefall for 30-year fixed, drop to 2.5% | April 22, 2021
30-year fixed-rate refinance: 2.875%, Down from 3.000%, -0.1252.875%, Down from 3.000%, -0.125 20-year fixed-rate refinance: 2.750%, Unchanging2.750%, Unchanging 15-year fixed-rate refinance: 2.250%, Unchanging2.250%, Unchanging 10-year fixed-rate refinance: 2.125%, UnchangingRates last updated on April 22, 2021. Mortgage refinance rates fell as 30-year loans finally budged from 3% after holding steady for six consecutive days. How mortgage refinance rates have changedToday, mortgage refinance rates have fallen compared to this time last week. 30-year fixed refinance rates: 2.875%, down from 3.000% last week, -0.1252.875%, down from 3.000% last week, -0.125 20-year fixed refinance rates: 2.750%, the same as last week2.750%, the same as last week 15-year fixed refinance rates: 2.250%, down from 2.375% last week, -0.1252.250%, down from 2.375% last week, -0.125 10-year fixed refinance rates: 2.125%, the same as last weekThink it might be the right time to refinance? The factors behind today’s refinance ratesCurrent refinance rates, like mortgage interest rates in general, are affected by many economic factors, like unemployment numbers and inflation.
First-time unemployment claims fall to pandemic low of 547,000
The number of Americans filing for first-time jobless claims last week fell to the lowest level since the outbreak of COVID-19, according to the Labor Department. Data released Thursday showed 547,000 Americans filed for first-time unemployment benefits in the week ended April 17, below the 617,000 that analysts surveyed by Refinitiv were anticipating. Last week’s total of 576,000 first-time filings was revised up by 10,000 to 586,000. Continuing claims for the week ended April 10, meanwhile, fell to 3.674 million, but were above the 3.667 million that was expected. The April jobs report will be released on May 7.
Netflix and Snap Charts Say Wait for More Pullback Action to Buy
SNAP Stocks quotes in this article: NFLXI've picked two stocks to watch -- one that reported earnings on Tuesday, the other that is scheduled to report after the close here on ThursdayWhere should investors look to buy these names? Let's go to the charts to see if we can identify trading opportunities in these two high-flyersNetflix On Wednesday, Netflix Inc. (NFLX) fell $41.56, or 7.5...
Teradata Leaps After Estimating Profit Will Exceed Guidance
Teradata leaped on Thursday after the data-analytics company said it expected first-quarter profit to exceed its guidance. Teradata (TDC) - Get Report shares leaped on Thursday after the data-analytics company said it expected first-quarter profit to exceed its guidance. Analysts surveyed by FactSet had called for earnings of 39 cents a share. Teradata Shares Keep Soaring on Enthusiasm for Data AnalyticsIn February the company posted stronger-than-expected fourth-quarter results including revenue of $491 million. The FactSet consensus is calling for first-quarter revenue of $448.8 million.
'Cryptocurrency Is the Best-Kept Secret in the World' - Former NYSE President
The former NYSE President said crypto could even be the best-kept secret in the history of the financial markets. Thomas Farley, the former president of the New York Stock Exchange, fully endorsed cryptocurrency on Squawk Box saying, "it's the best-kept secret in the world and maybe the financial markets." Farley further noted that he believes the crypto space is amazing in spite of the press it has gotten. "I think the crypto space is amazing right now, notwithstanding the press its gotten. I think it's the best-kept secret in the world and maybe the history of the financial markets," he said.
Tractor Supply Higher After Profit Doubles, Guidance Raised
Tractor Supply jumped after the farm-and-ranch-equipment provider reported earnings more than doubled on 43% higher sales and raised its guidance. Tractor Supply (TSCO) - Get Report jumped after the the farm-and-ranch-equipment provider reported that first-quarter earnings more than doubled on 43% higher sales and raised its guidance. At last check the shares of Tractor Supply were 3.6% higher at $186.62. At the end of the first quarter Tractor Supply held cash and cash equivalents of $1.15 billion and had not drawn on its $500 million revolving credit facility. Net sales are expected to range between $11.4 billion and $11.7 billion, up from $10.7 billion to $11 billion.
Will U.S. Legalize Cannabis? Industry Insiders Give Their Take
Momentum for cannabis legalization at the federal level has never been stronger now that Democrats control the White House and both houses of Congress. The future of cannabis legalization is at the forefront of discussion for investors looking to get into the sector. See CanadaDemocratic control of the White House and both houses of Congress has some industry insiders more bullish than ever before about the prospects for federal legalization. Here's what some insiders had to say about the prospect of cannabis legalization at the federal level in the near future. "Each state that legalizes cannabis for medicinal or adult-use, further solidifies the inevitability of federal legalization and positions the industry for sustainable long-term growth," said David Weinstein, CEO of NewLake Capital, a cannabis real-estate investment company.
Electric Vehicle Checkpoint: Top Competitors for Tesla
See the latest news for the top stocks in the electric vehicle space including Tesla, Ford, General Motors, NIO, Lordstown Motors, and more. For more in-depth coverage of the electric vehicle sector including trading recommendations and investment strategies, follow experts on Real Money. 21:Tesla | +1.11% 5-DayTesla (TSLA) - Get Report shares dropped Monday after one of the electric vehicle maker's cars, believed to be without a driver and on autopilot, crashed, killing two passengers. “Overall we still believe the company's electric vehicle and hydrogen fuel cell ambitions are attainable in the semi-truck market,” he wrote in a commentary. The Chinese electric vehicle maker was a volume leader Monday with 92,190,700 shares traded.
US jobless claims dip to 547,000, another record low since the start of the pandemic
Weekly jobless claims are down sharply from a peak of 900,000 in early January. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. Many states have struggled to clear backlogs of unemployment applications, and suspected fraud has clouded the actual volume of job cuts. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation. Economists expect inflation to rise steadily in the coming months because prices fell about a year ago when the pandemic first hit and the economy largely shut down.
California AG’s office says decision ‘imminent’ on high-profile rape case involving doctor and his girlfriend
The California Attorney General’s Office is closing in on a decision on whether to proceed with a high-profile rape case involving a Newport Beach surgeon and his girlfriend, a prosecutor said Wednesday, April 21, with the office likely to seek dismissal of at least some criminal counts. (Photo by Mark Rightmire, Orange County Register/SCNG)Dr. Grant Robicheaux, left, and Cerissa Riley listen as Orange County Superior Court Judge Steven Bromberg speaks during a hearing in their high-profile rape case in Orange County Superior Court in Santa Ana on Wednesday, April 21, 2021. (Photo by Mark Rightmire, Orange County Register/SCNG)Orange County Superior Court Judge Steven Bromberg speaks to Deputy Attorney General Yvette Martinez during a hearing in the rape case involving a Newport Beach doctor and his girlfriend in Orange County Superior Court in Santa Ana on Wednesday, April 21, 2021. Judge Bromberg questioned why the department’s political leader, rather than the prosecutor directly involved in the case, would make that decision. Despite the request by the DA’s Office, Orange County Superior Court Judge Gregory Jones refused to dismiss the case, ruling that it should go before a jury.
Real estate: Just-bought downtown San Jose apartments may offer new housing approach
SAN JOSE — A busy development firm that has just bought a downtown San Jose apartment complex intends to use the property as a trailblazer to explore ways to provide homes for essential workers in the area. “San Jose is evolving, and the big question is how do we transform the city,” said John Schlueter, WRNS Studio associate and designer. In a unique twist, Urban Community will offer ownership options to residents, community members, local businesses, and investment partners. Dillabough and Arrillaga said they want to be able to help provide as much housing in downtown San Jose and they see Atrio as a piece of that puzzle. “This is essential living for essential workers,” Dillabough said.
On TV show ‘Restaurant Recovery,’ Dallas barbecue joint gets $100,000 mid-pandemic
If you’re looking for a feel-good food story amid the worst year in restaurant history, turn on Restaurant Recovery on Discovery+. It’s not hard to find yourself rooting for each restaurant, which includes a more than 100-year-old California restaurant named Chili John’s and the family-owned Dallas barbecue joint Smokey John’s Bar-B-Que & Home Cooking. “Our drive-throughs were busier [in 2020] because people weren’t going to dine-in restaurants,” Graves says. New episodes of Restaurant Recovery drop on Thursday mornings on Discovery+. Smokey John’s Bar-B-Que & Home Cooking is at 1820 W. Mockingbird Lane, Dallas.
‘We believe the worst is behind us:’ Travel boost helps Southwest, American Airlines envision end to financial pain of COVID-19
Fort Worth-based American Airlines said it turned an operating profit of about $4 million a day in March, excluding debt and severance payments. We don’t like losing that much money,” American Airlines CEO Doug Parker told CNBC Squawk Box on Thursday morning. “We believe there is significant pent-up demand for leisure travel and are optimistic about summer 2021,” Southwest said Thursday. Southwest Airlines brought in $2.1 billion in revenue, which was also down 51.5% compared to a year ago. However, Southwest and American have added significantly to debt loads over the last year and that will require time to pay off.
U.S. unemployment claims drop to pandemic low as job market signals improvement
The number of Americans applying for unemployment aid fell last week to 547,000, a new low since the pandemic struck and a further encouraging sign that layoffs are slowing on the strength of an improving job market. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. Many states have struggled to clear backlogs of unemployment applications, and suspected fraud has clouded the actual volume of job cuts. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation. Economists expect inflation to rise steadily in the coming months because prices fell about a year ago when the pandemic first hit and the economy largely shut down.
The Wisconsin VFW is looking for a disabled veteran who could use a Vietnam vet's wheelchair-accessible minivan
After the death of her husband, a Wisconsin woman wants to donate his wheelchair-accessible minivan to another disabled veteran in need. The Wisconsin chapter of Veterans of Foreign Wars is accepting applications through May 31 from veterans with severe disabilities who could use the van. Marilyn Grau of Oregon, Wis., saw the freedom the van afforded her husband Lonnie, a Vietnam War veteran who lost both legs in 2006, said Jason Johns, VFW state commander. Buying the van in 2018 meant Grau could drive himself around for the first time in 12 years. The chosen recipient will receive the keys at the VFW's annual state convention in June.
Woman carjacked at gunpoint while parked on Lower Randolph in the Loop
A woman was carjacked at gunpoint while parked on Lower Randolph in the Loop Wednesday night, according the Chicago police. The woman, 34, was sitting in her 2012 Red Honda Civic in the 200 block of East Lower Randolph Street around 9 p.m. when a man tapped on the window with a gun and demanded she get out, police said. She complied and ran away as the man sped off in the car, police said. The woman was not injured. Area Three detectives were investigating.
American Airlines sees signs of hope as it posts $1.25 billion loss, delays new Boeing jets
American said it burned through $27 million in cash each day in the quarter, down from $30 million a day in the fourth quarter of 2020. The airline said it reduced 2021 costs by more than $1.3 billion, including a new round of voluntary buyouts that will result in 1,600 employees leaving the company.
Oregon electric vehicle startup’s decision to go public sent it on a wild ride
He continued working to tweak the design of his three-wheel electric vehicle, ditching the steering wheel in favor of motorcycle handlebars. Frohnmayer had set a target of bringing the cost of his Fun Utility Vehicle down to $11,900, a price point that would set it apart in the electric vehicle market. Back in 2017, they were growing wary of electric vehicle companies after plunging millions into electric vehicle pioneer Tesla only to have the company struggle with production problems and delays. “It was a very difficult time for any electric vehicle company to raise venture capital,” Hambrecht said. But first, Gerber said Arcimoto has to prove that it can meet its goals to safely scale up production – something that has challenged other electric vehicle startups.
At global climate summit, Biden pledges to cut greenhouse gas emissions in half
The world’s top two climate offenders, China and the United States, are feuding over nonclimate issues. Chinese President Xi Jinping, who waited until Wednesday to confirm he would even take part, spoke first among the other global figures. He made no immediate reference to other U.S.-China disputes, saying, “To protect the environment is to protect productivity, and to boost the enviroronment is to boost productivity. It’s as simple as that.”
US jobless claims fall to lowest level of pandemic; Oregon claims down, too
Weekly jobless claims are down sharply from a peak of 900,000 in early January. In Oregon, the number of new claims fell to 6,289 -- down from 8,379 the prior week and the lowest weekly total since November. Oregon’s weekly jobless claims haven’t been falling as fast as the national rate. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. Economists expect inflation to rise steadily in the coming months because prices fell about a year ago when the pandemic first hit and the economy largely shut down.
New unemployment claims fall to 547,000, another pandemic low, as job market strengthens
For now, the economy is showing steady signs of recovering. Sales at retail stores and restaurants soared 10% in March — the biggest increase since last May. Federal stimulus checks of $1,400 have been sent to most adults. And Americans who have kept their jobs have accumulated additional savings, part of which they will likely spend now that states and cities have loosened business restrictions and the virus wanes.
The Hartford rejects two additional takeover offers from rival Chubb.
The Hartford’s board of directors unanimously rejected both proposals, after consulting with its financial and legal advisors, determining that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders.
US jobless claims fall to 547,000, another pandemic low
Christopher RugaberAssociated PressWashington — The number of Americans applying for unemployment aid fell last week to 547,000, a new low since the pandemic struck and a further encouraging sign that layoffs are slowing on the strength of an improving job market. Weekly jobless claims are down sharply from a peak of 900,000 in early January. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation. Economists expect inflation to rise steadily in the coming months because prices fell about a year ago when the pandemic first hit and the economy largely shut down.
With a new round of dispensary licenses on the horizon, cannabis industry advocates turn attention to greater diversity
Earlier this week, the Ohio Board of Pharmacy voted to increase the number of dispensary licenses to 130 from the current 57. Fifteen percent of marijuana business licenses were set aside for companies with at least 51% minority ownership. Even before courts invalidated the carve-outs, the Buckeye State’s marijuana businesses had few minority owners. State officials defend the stringent requirements, saying it is vitally important to keep the state’s marijuana program legitimate, especially with the drug still illegal under federal law. So advocates are looking to the next round of licenses to make up some ground for members of economically disadvantaged groups.
Renewable energy to make up 50% of AEP's generation by 2030
American Electric Power is continuing its move away from fossil fuels, saying on Thursday that it expects renewable sources of energy to make up more than 50% of its portfolio by 2030. AEP said it is proposing 16,600 megawatts of wind and solar generation during that period. It also plans to acquire one of the units of a coal-fired power plant in Indiana that it has leased next year with the intention of closing the plant in 2028. AEP has said its goal is to reduce carbon dioxide emissions by 80% from its 2000 baseline by 2030. Akins said the company is making progress in diversifying its generation fleet with investments in renewable energy.
Turkey probes cryptocurrency exchange for possible $2B fraud
ANKARA, Turkey (AP) — Turkish prosecutors launched an investigation into a cryptocurrency exchange Thursday over allegations it may have defrauded some 390,000 investors of an estimated $2 billion. The office of Istanbul's chief prosecutor said it was probing the Thodex cryptocurrency exchange following complaints from users who could not access their assets. Thodex owner Faruk Fatih Ozer deactivated his social media accounts and is believed to have fled Turkey on Tuesday, Turkish broadcaster Haberturk reported. Earlier in the week, Thodex notified users that it would halt operations for six hours for maintenance and later extended that period to 4-5 days. The decision came as many in Turkey have turned to cryptocurrencies to shield their savings from rising inflation and the Turkish currency’s slump.
US jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation.
ECB leaves interest rates, pandemic stimulus unchanged
She said the risks were “on the downside” in the short term and that bank stood ready “to adjust all its instruments” if the situation calls for it. Longer term, risk are “more balanced” and progress in ramping up vaccination was “encouraging.” Europe's vaccine rollout has lagged that in the US and the UK. Inflation in the eurozone was an annual 1.3% in March. The bank’s goal is close to but below 2%. U.S. Federal Reserve Chair Jerome Powell has taken a similar view, saying that price increases later this could be due to temporary factors and that the Fed would not begin raising rates until the recovery in jobs in hiring was “effectively complete” and that inflation appears “on track to run moderately above 2% for some time.”
ECB leaves interest rates, pandemic stimulus unchanged
Inflation in the eurozone was an annual 1.3% in March. Output is not expected to reach pre-pandemic levels until mid-2022, lagging well behind other major pillars of the global economy. The U.S. could reach pre-pandemic output as early as this month, according to an April 14 forecast from the Conference Board, while China was the only major economy to grow for the year in 2020. The U.S. rebound is being propelled by massive relief and stimulus spending by the federal government. European governments have also spent heavily on pandemic relief but their 750-billion euro recovery fund at the EU level will only starting paying out for digital and green projects this year.
US jobless claims fall to 547,000, another pandemic low
WASHINGTON (AP) — The number of Americans applying for unemployment aid fell last week to 547,000, a new low since the pandemic struck and a further encouraging sign that layoffs are slowing on the strength of an improving job market. The Labor Department said Thursday that applications declined 39,000 from a revised 586,000 a week earlier. Weekly jobless claims are down sharply from a peak of 900,000 in early January. Last month, the nation's employers adding 916,000 jobs, the most since August, in a sign that a sustained recovery is taking hold. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%.
The Latest: India announces US climate partnership at summit
Xi emphasizes that China is aiming to move from peak carbon to net zero in a short time period –- just 30 years, or the span of one generation. ———8:35 a.m.United Nations Secretary-General António Guterres says the world is “at the verge of the abyss” because of climate change and must take aggressive steps to avoid catastrophe. Speaking at a global virtual summit on climate change Thursday, Guterres called for world leaders to build a global coalition for net-zero carbon emissions by 2050 — “every country, every region, every city, every company and every industry.?Guterres says the next decade must be one of transformation, with major polluters such as the United States and other advanced countries submitting detailed, ambitious plans to slow climate change. Guterres says countries around the world must put a price on carbon, end subsidies for fossil fuels, ramp up investments in renewable energy and green infrastructure and stop the financing of coal and the building of new coal power plants. He calls for advanced countries to phase out coal by 2030, with other countries phasing it out by 2040.
Climate activists shatter windows at HSBC London building
LONDON (AP) — Climate change activists have vandalized HSBC’s London headquarters, smashing windows in a protest against the bank’s alleged links to the fossil fuel industry. Nine women from the Extinction Rebellion activist group and political party Burning Pink targeted the building in Canary Wharf, London’s financial district, on Thursday. They used hammers and chisels on the building’s glass windows. The Metropolitan Police said nine women were arrested on suspicion of criminal damage. The protesters said they wanted to highlight the financial sector’s role in the climate crisis.
Chip maker Alphawave aims to be new Arm with £3.2bn float
The deal comes after Deliveroo’s disastrous opening day on the stock exchange threatened to throw investors off course. The appetite for new deals has not slowed with City floats raising £7.2bn in the first three months of the year. Alphawave, founded in Canada by Tony Pialis, Jonathan Rogers and Raj Mahadevan, designs the blueprints for semiconductor parts used to speed up connections in servers and data centres. It licenses its “chiplet” designs to be included in semiconductors made by the likes of Taiwan’s TSMC foundry and Samsung. These chips have been used in data centres to speed up “cloud” internet computing, but could also be used in consumer devices.
Channel Tunnel dividend on track despite Eurostar crisis
The Channel tunnel owner is pressing ahead with plans to pay a dividend despite the uncertainty surrounding the future of passenger rail operator Eurostar. Getlink, a separate company to Eurostar, said the rail operator had carried just 88,051 passengers in the first three months of the year compared with almost 2m in the same period of 2020. The operator is in talks with the UK and French governments over additional support to tide it through until travel restrictions are lifted. Getlink said the number of rail freight trains running under the Channel was down just 10pc, meaning total rail revenues only halved to €32.6m. The company has about 200 passenger service staff on furlough schemes run by the UK and French governments.
Crispin Odey's hedge fund takes short position against Deliveroo
A hedge fund that is part of Crispin Odey’s investment empire has revealed it took a short position against Deliveroo, the first sign that short-sellers are targeting the company following its disastrous float last month. James Hanbury and Jamie Grimston of Brook Asset Management, part of the Odey Asset Management group, took out the short position on March 31 when Deliveroo went public in London, according to the Financial Times. Deliveroo’s market debut was one of the worst on record for the City as the company’s share price fell more than 25pc, wiping £2bn off its valuation. At the time, Deliveroo’s advisers partly blamed short sellers, who bet against companies by selling borrowed stock and hoping it will fall, allowing them to return the trade at a profit. However, Odey’s short position did not reach the 0.5pc disclosure threshold meaning it’s unlikely to have entirely accounted for Deliveroo’s performance since its debut.
Extinction Rebellion's vandalism betrays its hollow message
Yes, HSBC finances fossil fuel projects. But HSBC has already bowed to intense shareholder pressure to end funding for coal projects, with new coal-fired power plants the “the most urgent threat” to the climate, according to the OECD. Even charity ShareAction, which co-ordinated the investor backlash, acknowledged that it was “a powerful statement” and “a massive win for shareholder power”. Through “a four-year engagement process”, the campaign group said, not by committing mindless acts of vandalism. If Extinction Rebellion’s real issue is that it thinks the bank isn’t moving quickly enough then perhaps it would have more luck going through the front door, rather than kicking it in?
Greta Thunberg issues ‘emergency alert’ video, calling out ‘bulls***’ on emissions pledges
Greta Thunberg has issued an “emergency alert for the general public” in which she has said the climate targets countries lay out this year are likely to be insufficient, and based on non-existent carbon removal technologies. Joe Biden’s administration has announced it will cut carbon dioxide emissions to half of what they were in 2005 by 2030. In her video, Thunberg says: “At the leaders’ summit countries will present their new climate commitments, like ‘net zero emissions by 2050’. She also says – while a pink unicorn floats across the screen – that many countries’ targets are “completely relying on future, fantasy-scaled, currently barely-existing, negative emissions technologies”. And the gap between our so-called climate targets and the overall best available science should no longer be possible to ignore.
This incredible upside down house is Romania's most exciting new tourist attraction
You could be forgiven for thinking that everything has fallen from the sky at this amazing upside down house in Gorj, southwestern Romania. It's proving a hit with local tourists who can't wait to see what a house where everything is the wrong way up, both inside and out, looks like. The owner Alex Ducu built the house in just three months. He now plans to add an adventure park to the grounds. A visit to the house costs 15 lei (€3) and allows six visitors at a time.
SUV driver narrowly escapes being hit by a falling tree
A motorist narrowly missed being smashed into by a tree as it collapsed across both lanes of a quiet neighborhood street. The tree came crashing down near an intersection in the Duke Park area of Durham, North Carolina. Footage from another vehicle shows an SUV pulling up to a crossroads as the huge tree begins to fall. Durham's Urban Forestry Department said the tree fell from a combination of winds and rot in its roots system. Five years ago a pregnant woman died after a tree fell on her minivan just six blocks away.
Driver chases runaway truck packed with gas canisters
The man ran in front of the truck to get to the cab and steer it away from a cliffThis is the shocking moment a gas truck driver avoided catastrophe after his vehicle started driving off without him. CCTV shows the worker running in front of the out-of-control lorry to get back behind the wheel and stop it rolling off a cliff. The video begins after the man has finished loading his stake bed truck full of gas canisters from a local depot. His quick actions stop the vehicle from knocking into a neighbour's wall, but puts the truck on path to fall over a cliff. Colleagues from the gas depot run outside to help but luckily the worker is able to get back into the cab and bring the truck to a halt.
Govt allocates 50mn for Alitalia to pay salaries - English
The loss-making former flag-carrier has been in extraordinary administration for years and the pandemic has made its plight even worse. The government wants to restructure the airline, via the launch of new State-controlled company, ITA. According to the plan, ITA would get State cash to buy many of Alitalia's assets and it would hire around 11,000 of its workers. But the negations between Rome and Brussels on how to allow the move to proceed while complying with EU law are proving tough. It was given the green light in an article in the decree approved by cabinet on Wednesday setting out the system of COVID-19 restrictions that will be in force from next week, the source said.
Biden calls climate action a 'moral and economic imperative'
Biden calls climate action a 'moral and economic imperative'The Biden administration has opened a global climate summit including 40 world leaders. President Joe Biden is pledging to cut at least in half the climate-wrecking coal and petroleum fumes that the U.S. pumps out. That's a commitment Biden hopes will spur China and other big polluters to speed up efforts of their own.
Biden vows to cut US emissions by at least 50% by 2030
Biden vows to cut US emissions by at least 50% by 2030The Biden administration on Thursday pledged to slash US greenhouse gas emissions by 50%-52% from 2005 levels by 2030, a new target it hopes will spur other big emitter countries to raise their ambition to combat climate change.
US pledges to halve its emissions by 2030 in renewed climate fight
US pledges to halve its emissions by 2030 in renewed climate fightThe Biden administration on Thursday pledged to slash US greenhouse gas emissions by 50%-52% from 2005 levels by 2030, a new target it hopes will spur other big emitter countries to raise their ambition to combat climate change. FRANCE 24's Environment Editor Mairead Dundas tells us more.
Trolley Problem in space goes off the rails
Share this Story: Trolley Problem in space goes off the railsTrolley Problem in space goes off the rails In Stowaway, an extra astronaut on a ship bound for Mars creates a conundrum for the crew Photo by Amazon PrimeReviews and recommendations are unbiased and products are independently selected. Try refreshing your browser, or Trolley Problem in space goes off the rails Back to video Which brings us to Stowaway, a second feature from director Joe Penna, co-written with Ryan Morrison. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. What could have been an exciting application of the philosophical notion of the Trolley Problem – in space! Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
Should Russian Banks Be Scared of SWIFT Disconnection?
He called disconnecting Russian banks from SWIFT a “red herring” and suspects it stems from a “huge misunderstanding” of what the network actually does. Money doesn’t actually flow over the SWIFT network, which is what many people don’t realize,” O’Toole said. “By itself, disconnecting Russian banks from SWIFT means only increasing the cost and slowing down financial transactions,” said Oleg Bogdanov, lead analyst at investment company QBF. Domestic alternative Russian banks would be forced to use alternatives, perhaps having to convince their counterparts to sign up to a Russian system just for them — a significant inconvenience — or incurring the cost of using friendly intermediaries. Meanwhile, Russian banks remain among the world’s most active users of SWIFT.
US 2030 goals will take world closer to holding global heating below 2C
The US goal of halving greenhouse gas emissions by 2030, compared with 2005 levels, will take the world closer to the reductions scientists say are necessary to hold global heating within scientifically advised limits, analysis has shown. This is the strongest contribution yet made by any major economy, in terms of the amount of carbon to be cut, towards meeting the goals of the 2015 Paris climate agreement of holding global heating well below 2C. The EU has already agreed to cut carbon by 55% by 2030, compared with 1990 levels. “With the new target for 2030 and holding the climate summit, the US has again a leading role in international climate policy,” said Höhne. Japan was criticised for announcing a reduction of 46% in emissions by 2030, compared with 2013 levels.
China's Xi says China will phase down coal consumption over 2026-2030
SHANGHAI (Reuters) - China will start to phase down coal consumption over the 2026-2030 period as part of its efforts to reduce climate-warming greenhouse gas emissions, President Xi Jinping told the Climate Leaders’ Summit on Thursday. China is aiming to bring its emissions to a peak before 2030 and to become carbon neutral by 2060. China’s energy regulator said earlier on Thursday that it would aim to reduce the share of coal in its total energy mix to less than 56% this year, but it remains one of the only major economies to approve new coal projects.
Contractor that ruined 15M doses of J&J vaccine hiked price of another by 800%
800% drainBut the investigation stretches back much farther than the start of the pandemic—through years of questionable federal contracts. Advertisement“Emergent has raised the government purchasing price of the anthrax vaccine by 800% since acquiring the drug in 1998,” the lawmakers write in their letter. “As a result, through most of the last decade, nearly half of the SNS’s budget has been spent purchasing Emergent’s anthrax vaccine. First on the list is that Emergent failed to thoroughly investigate how the millions of Johnson & Johnson and AstraZeneca doses became contaminated. At the request of the FDA, vaccine production at the Baltimore facility has been halted since April 16.
Trudeau pledges to slash greenhouse gas emissions by at least 40% by 2030
At an international climate summit convened by U.S. President Joe Biden, Prime Minister Justin Trudeau pledged today that Canada would aggressively curb greenhouse gas emissions over the next decade. Canada has long maintained it would slash emissions by 30 per cent by 2030. In real terms, which would mean lowering GHG emissions from 732 megatonnes to 513 megatonnes. Speaking at the summit, Trudeau said Canada is "now on track to blow past our old target." A recent report from Environment and Climate Change Canada found Canada's emissions were headed in the wrong direction.
US jobless claims fall to 547,000, another pandemic low
Weekly jobless claims are down sharply from a peak of 900,000 in early January. About 17.4 million people were continuing to collect unemployment benefits in the week that ended April 3, up from 16.9 million in the previous week. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%. In addition, the supplemental federal jobless payment, on top of regular state unemployment aid, might have encouraged more people to apply for benefits. Those issues, in turn, have fed concerns that the Federal Reserve’s low-interest rate policies could fuel a spike in inflation.
‘Just kidding’: Michigan unemployment agency reconsiders who’s eligible, demands money back
The CARES Act came to the rescue, giving Holifield federal unemployment money through the Pandemic Unemployment Assistance program. The Michigan Unemployment Insurance Agency changed its mind – deciding that people who aren’t available for full-time work don’t get benefits. “The unemployment agency … is purposely excluding money from coming into Michigan that’s going into these other states,” Kohl said. Depriving them of unemployment benefits that are rightfully theirs does nothing but add to their hardship and therefore hurts Michigan’s economic recovery. " COVID-19-related reasons no longer acceptable to get Michigan unemploymentDespite draining 89% of unemployment funds, Michigan says it won’t run out in 2021Extended Benefits unemployment program ends in Michigan
Greensill lender Credit Suisse suffers 'unacceptable' loss
But analysts have said the crisis at Credit Suisse will cast a long shadow over the bank. "The full consequences from the reputational loss will only be visible over time," said Andreas Venditti, an analyst at Vontobel bank,
The New Documentary That Reveals the Queen as CEO As One of the World’s Most Successful Brands
As the royal family mourns the death of the Duke of Edinburgh, a new documentary premiering on True Royalty TV reveals his role, alongside the Queen, in growing the British royal family into one of the world’s most successful, and biggest brands. The research also argues that she has grown the royal family into the world’s fifth biggest “corporate brand,” ahead of multinationals including Coca-Cola, Nike, and Microsoft. Elizabeth at 95: The Invincible Queen uncovers how the Queen and Prince Philip acted when necessary to protect the Windsor brand at virtually all costs. David Haigh, CEO of Brand Finance, tells the program, “The Royal Family refers to itself as ‘The Firm’. That puts it as the most valuable UK brand.
Greenwashing, upcycling a další ekologické pojmy, které musíte znát
Greenwashing, upcycling a další ekologické pojmy, které musíte znát Emily Chan 22. Pokud jste informovaným zákazníkem, m?žete se vyhnout greenwashingu a ujistit se, že zna?ky, které si vybíráte, skute?n? p?ijímají opat?ení pot?ebná k ochran? planety a podporují ty, kte?í vyráb?jí naše oble?ení. Proto stále více zna?ek za?íná s uhlíkovou kompenzací: investují do projekt? zam??ených na snižování emisí, jako je nap?íklad obnova les?. A?koli skupina Fashion Revolution každoro?n? sestavuje Index transparentnosti módy , musíme si uv?domit, že zna?ky, které jsou transparentn?jší, nemusí být nutn? udržiteln?jší. Aby zna?ka fungovala eticky, musí dodržovat práva zam?stnanc?, jako je maximální délka pracovní doby, bezpe?nost a ochrana zdraví, svoboda sdružování a spravedlivá mzda.
Chcete zachránit planetu? P?e?t?te si t?chto šest knih
Od No One Is Too Small To Make a Difference od Grety Thunberg po What Can I Do? : The Truth About Climate Change and How to Fix It here?ky Jane Fonda, p?inášíme seznam knih, které byste si m?li p?e?íst nejen na Den Zem?.
Dia da Mãe: 20 presentes para sempre
Nenhuma palavra poderá expressar com exatidão o poder, beleza e heroísmo do amor de uma mãe. Quer o reconheçamos conscientemente ou não, temos um cenário ideal de como seria a nossa relação com a nossa mãe agora que somos adultos. Mãe não é só mãe – é a minha mãe, é a sua mãe, é a nossa mãe. Porque o contrário de amor não é ódio, nem tão pouco raiva. Neste dia da mãe que se aproxima, faça as pazes com a sua e mime-a (quem sabe com uma das nossas sugestões acima).
Mango lança coleção para mulheres com apenas um peito
A Mango lança a primeira coleção, a nível mundial, de roupa interior e de banho para mulheres com apenas um peito. Segundo a Liga Portuguesa Contra o Cancro, o cancro da mama é um problema de saúde pública. Mulheres que optam pela prótese pós mastectomia e mulheres que decidem não usar uma prótese ou fazer uma reconstrução mamária. Foi por isso que a Mango criou uma nova coleção de lingerie e roupa de banho para mulheres com apenas um peito. O desenho versátil de todas as peças permite que cada uma se adapte tanto a mulheres com apenas um peito como a mulheres com prótese.
Greta Thunberg tells us how we can tackle the climate crisis
Here, Thunberg explains why she wants our leaders to move beyond “big words and little action” when it comes to tackling the climate crisis. On Earth Day 2021, 22 April, at the Leaders’ Climate Summit led by US president Joe Biden, countries will present their new climate commitments, including net-zero by 2050. Their job is to fulfil the wishes of voters, and if voters are not demanding real climate action, then of course no real changes will happen. And the gap between our so-called climate targets and the overall, current best-available science should no longer be possible to ignore. These gaps of action, awareness and time are the biggest elephant that has ever found itself inside any room.
Greta Thunberg’s Passionate Letter on Why We Must Do More to Tackle the Climate Crisis
Here, Thunberg explains why she wants our leaders to move beyond “big words and little action” when it comes to tackling the climate crisis. On Earth Day 2021, April 22nd, at the Leaders’ Climate Summit led by United States president Joe Biden, countries will present their new climate commitments, including net-zero by 2050. However, when you compare the overall current best-available science to these insufficient, so-called “climate targets,” you can clearly see that there’s a gap—there are decades missing where drastic action must be taken. But we must not forget that while we can fool others and even ourselves, we cannot fool nature and physics. If you call these pledges and commitments “bold” or “ambitious,” then you clearly haven’t fully understood the emergency we are in.
Angel Soft exec explains why toilet paper supply couldn’t keep up with demand when COVID-19 hit
I’m talking about the Great Toilet Paper Crisis of 2020. Yet where COVID-19 was nature’s doing, the toilet paper crisis was entirely humanity’s fault. Talking to CNBC, Noble revealed that the machinery of toilet paper product basically never stops for a break, since it’s a commodity constantly in demand even during normal times. But one good thing did come from the Great Toilet Paper Crisis of 2020. Even my own mother wanted to know if I had any toilet paper I could get her.”
U.S. Department of the Treasury
The current public health crisis and resulting economic crisis have devastated the health and economic wellbeing of millions of Americans. Economic Impact PaymentsThrough this third round of Economic Impact Payments, the U.S. Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) are ensuring that Americans will receive fast and direct relief during the final phase of the COVID-19 crisis. The Treasury Department and the IRS continue to expand outreach to the millions of homeless, rural poor, and other disadvantaged Americans to ensure that they receive Economic Impact Payments. Child Tax CreditThe American Rescue Plan’s expansion of the Child Tax Credit will substantially reduce child poverty by supplementing the earnings of families receiving the tax credit. The American Rescue Plan waives federal income taxes on the first $10,200 of unemployment benefits received in 2020 by middle- and lower-income taxpayers.
Gov. Lujan Grisham signs $330 million relief package for New Mexicans
Michelle Lujan Grisham on Wednesday signed into law a significant relief package for New Mexicans that will deliver grants to small New Mexico businesses, supplemental payments to the unemployed and other emergency food and housing relief. “I know this stimulus will mean so much to so many New Mexicans as we enter the holiday season,” said Gov. We must continue to evaluate how we can get more assistance to more New Mexicans who need it in this time of crisis. The package provides for $100 million in grants for small businesses in New Mexico. The legislation was approved Tuesday evening in both chambers of the Legislature on overwhelming bipartisan votes.
HBO And HBO Max Add 2.7M Subscribers In Q1, AT&T Reports As It Beats Wall Street Earnings Expectations
On a combined basis, HBO and streaming service HBO Max added 2.7 subscribers in the first quarter, WarnerMedia parent AT&T reported. HBO Max, the nearly year-old service available at no extra cost to HBO subscribers, propelled the overall HBO number to 44.2 million subscribers. Content revenues increased, which the company attributed to higher sales to HBO Max for theatrical product and basic networks licensing. Those gains were partly offset by lower TV product licensing from prior-year licensing to HBO Max. Globally, HBO and HBO Max reached 63.9 million subscribers.
Maryland RELIEF Act stimulus checks: When do they arrive?
The majority of the stimulus payments have already been processed, according to the state comptroller. — The majority of stimulus payments from Maryland's new RELIEF Act should be processed by Friday February 19, according to the state's comptroller. Larry Hogan signed the bipartisan RELIEF Act of 2021 Monday, February 15, to provide a $1 billion package of emergency coronavirus relief to families and small businesses. The legislation repeals all state and local taxes on unemployment benefits and includes immediate stimulus payments of $500 for families and $300 for individuals who filed for the Earned Income Tax Credit. Franchot's office says 98% of RELIEF Act stimulus payments to individuals will be processed by Friday, February 19.
Colorado To Distribute One-Time $375 Stimulus Checks This Week
Hundreds of thousands of state-funded stimulus payments are set to hit the bank accounts of unemployed Coloradans this week, according to the Colorado Department of Labor and Employment. “So Colorado is boldly doing our part to help our own.”Since then, the state labor department has notified eligible residents directly, according to its website. Residents don’t need to take any action to receive their payments, according to the labor department. Users using pre-loaded debit cards will get their stimulus checks that way. The payments are significantly less than the federal government’s $1,200 CARES Act stimulus checks issued last spring.
The U.S. plans to cut greenhouse gas emissions in half by 2030
The U.S. now aims to cut annual greenhouse gas emissions in half—between 50% and 52% lower than 2005 levels—by the end of the decade. The Biden administration announced the goal today as its new commitment under the Paris climate agreement , nearly doubling the previous commitment made under Obama. There should be a plausible pathway to success.”In one analysis, Hultman and other researchers found that a combination of new policies and federal standards could cut emissions 51% by 2030. That’s partly by design—countries set voluntary goals under the Paris agreement and then are expected to ramp up ambition over time. More than 200 American companies have science-based targets to cut emissions.
Instead of clogging sidewalks, this bike share company will dock on private property
In New York City, the dominant micromobility option is Citi Bike, the official bike-sharing system of the city. But one micromobility company wants to try a new model: putting its sharable bikes on private property instead. Unlike with Citi Bikes, users will be able to reserve the e-bikes via smartphone; they’ll be charged $1 for unlocking, plus 25¢ per minute of use, versus Citi Bike’s $3.50 per single ride under 30 minutes and 18¢ per minute thereafter. Citi Bike, Wejman says, “has done a tremendous job of driving cycling adoption in New York,” and the cycling infrastructure is already in place. The aim is to complement Citi Bike with a fleet of electric bikes, to show that demand can be met with private and public models working together.
It takes 15 gallons of water to distress a pair of jeans. Uniqlo is trying to change that
Creating a stonewashed or distressed look on a single pair of jeans requires 15 gallons of water. Last year, the Japanese retailer opened a Jeans Innovation Center in Los Angeles to develop more eco-friendly approaches to manufacturing jeans. Given Uniqlo’s enormous scale—its parent company is the world’s most valuable clothing retailer—this new approach could have a large impact. Fast Retailing—Uniqlo’s parent company, which also owns Theory and Helmut Lang—hasn’t fared well in recent sustainability reports. To create a stonewashed look, Uniqlo previously used pumice stones, but they would quickly break down, producing a residue, so the brand switched to artificial stones that last much longer.
Buying a home is harder in these 3 states where income has been stagnant
Owning a home is a key part of the iconic American dream, but when housing costs go up—and wage levels do not— that makes it hard to do. A new study from QuoteWizard by LendingTree finds that the imbalance today is real. Over the past 10 years, the median price of a home has increased 70% to $129,000 while the median income has only risen 30% to $14,695. The states with the biggest gaps are:Nevada : 118.8 percentage points or $275,724: 118.8 percentage points or $275,724 Idaho : 118.6 percentage points or $298,001: 118.6 percentage points or $298,001 Arizona: 99.3 percentage points or $256,945If buying a home is important to you, consider developing a taste for cheesecake, Bobbie sandwiches, or gumbo, because in New York, Delaware, and Louisiana, income increased more than housing costs did. For its study, QuoteWizard by LendingTree analyzed data from Zillow and the U.S. Census.
IRS warning: Your tax refund could be delayed if you mess up on the new cryptocurrency question
The Internal Revenue Service added a question about cryptocurrency on 1040 tax forms for 2020, asking taxpayers if they’ve “received, sold, sent, exchanged, or otherwise acquired any financial interest in any virtual currency” during the past year. (Note: You don’t have to answer “yes” to that question if you only purchased cryptocurrency in 2020.) Now, the agency is reminding taxpayers to make sure they answer the new cryptocurrency question correctly—otherwise, they could see a delay in their tax refunds. All of which is a way of saying, if you dabble in crypto, make sure you answer the crypto question correctly. According to federal law, digital currencies such as bitcoin and litecoin are considered property and therefore subject to capital gains tax.
Houzz CEO Adi Tatarko's Biggest Pandemic Lesson: Never Say 'Never'
She'd founded her company, Houzz, in 2009 along with her husband, Alon Cohen. More than a decade later, stay-home orders and subsequent health-and-safety precautions forced Tatarko to work from home again. And in the process, Tatarko learned perhaps her biggest lesson from the pandemic: Never say never. Houzz saw 60 percent growth in homeowners looking for help from professionals during 2020. Houzz also saw a boost in outdoor-space renovations, and investments in using every inch of a property.
Waiting for a fourth stimulus check? Some states are sending direct payments, too
It’s a new age of stimulus payments in America, where some households received 4-5 payments in the last year. If you thought stimulus payments come only from the Internal Revenue Service (IRS), think again: Some Californians were surprised to find $600 stimulus payments in their bank accounts this month. What’s going on with state stimulus payments? The idea is to shore up struggling workers while also playing fair with taxpayers who missed out on federal stimulus checks. The Maryland and California stimulus checks were signed into law in February, before President Biden signed the American Rescue Plan Act in March, which provides federal stimulus checks of up to $1,400.
Lightning-Fast Home Sales Are Leaving Sellers Stranded
Since this comes with added risk to the seller, most are unwilling to accept these offers in today’s red-hot market. “Listings are so low that buyers will wait.”Typically, sellers would pay a daily, weekly or monthly rate to lease the home back from the buyer. For one, sellers can move in with friends or family — something the Torstensons are currently considering. This requires putting most belongings in storage, but for sellers with loved ones nearby, it’s often the most economical choice. Get Money’s Toolkit By clicking "Get Money's Toolkit," I would like to receive relevant marketing communications from Money and selected partners.
Today's 30-Year Mortgage Rates Are The Lowest They've Been Since February | April 22, 2021
Today’s 30-year fixed mortgage ratesThe 30-year rate is 3.333%. Today’s mortgage refinance ratesThe average rates for 30-year loans, 15- year loans and 5/1 jumbo ARMs are:The refinance rate on a 30-year fixed-rate refinance is 3.663%. View Rates for April 22, 2021Where are mortgage rates heading this year? Tips for getting the lowest mortgage rate possibleThere is no universal mortgage rate that all borrowers receive. Our mortgage rate methodologyMoney’s daily mortgage rates show the average rate offered by over 8,000 lenders across the United States the most recent business day rates are available for.
The Future of Substack and Amazon’s Failed Union Effort
Is the newsletter platform Substack the new media wunderkind or a flash in the pan? What can we learn from the failed effort to unionize Amazon workers in Alabama? Plus, they examine why the Retail, Wholesale, and Department Store Union failed to unionize an Amazon warehouse in Alabama. You can follow Youngme, Mihir, Rebecca, and Rawi on Twitter at: @YoungmeMoon, @DesaiMihirA, @RebeccaReCap, and @RawiAbdelal. HBR Presents is a network of podcasts curated by HBR editors, bringing you the best business ideas from the leading minds in management.
A Fair Way to Lead a Team of Contractors and Full-Time Employees
But the reality is that full-time employees (FTEs) and contractors have different motivations, expectations and backgrounds. Motivations and OpportunitiesUnderstanding the differences between the motivations and opportunities of internal team members and project-based contractors is the first step. These often can come from team members and the team leader, all of whom can post on social media. Ground rulesAs you bring the team together and launch the work, create and enforce explicit agreements and ground rules of behavior for both contractors and internal project team members. Will team members and contractors present themselves as part of the same organization or as people coming from different places?
The Best ESG Stocks in the Dow
Dow stocks with high ESG scores often happen to be some of analysts' favorite blue-chip stocks to buy, too. Amgen Market value: $149.2 billion$149.2 billion Dividend yield: 2.7%2.7% MSCI ESG rating: AA Amgen (AMGN, $259.14), which replaced Pfizer (PFE) in the Dow last year, gets an AA ESG rating from MSCI – a level it first attained in June 2019. The drinks giant also is among the best ESG stocks in the Dow, claiming a MSCI rating of AA. Salesforce.com Market value: $209.1 billion$209.1 billion Dividend yield: N/AN/A MSCI ESG rating: AA Salesforce.com (CRM, $227.96), which also was added to the Dow last year, gets an AA ESG rating from MSCI, thanks to high marks for human capital development and privacy and data security. 3M Market value: $114.9 billion$114.9 billion Dividend yield: 3.0%3.0% MSCI ESG rating: AAA 3M (MMM, $198.30) is the first of only two Dow stocks to receive a perfect MSCI ESG rating of AAA.
15 Best ESG Funds for Responsible Investors
Investors' hunger for ESG funds and stocks is growing at a rapid clip. This is primarily the realm of ESG funds, which aim to hold stocks with good environmental, social and governance practices. Here are 15 of the best ESG funds for investors looking to put their money where their values are. Most of these picks, which include mutual funds and exchange-traded funds (ETFs) alike, use a combination of SRI exclusion and ESG inclusion. Vanguard FTSE Social Index Fund uses a passive strategy that tracks the FTSE4Good US Select Index, a market-capitalization-weighted index that screens constituents for ESG criteria.
7 ESG ETFs to Buy for Responsible Profits
However, given the difficulty in assessing individual ESG stocks by their various standards, ESG ETFs help provide investors with a basket of stocks (and even bonds) that meet a baseline of various "responsible" metrics. Here are seven of the most interest ESG ETFs to buy if you're interested in joining the trend. Vanguard ESG International Stock ETF Assets under management: $2.0 billion$2.0 billion Expenses: 0.15% If you're interested in geographical diversification, consider the Vanguard ESG International Stock ETF (VSGX, $62.65). But Nuveen's ESG ETF has accumulated more than $800 million in net assets in its short time on the market. This ESG ETF has been around for more than a decade, launching in February 2007.
Stock Market Today: Dow Bounces Back as Earnings Beats Roll On
Wednesday maintained the same light-news, heavy-earnings pace of the past couple of days, but with a much better result that saw the major indexes close in the black. Netflix (NFLX) was the primary focus of today's earnings slate. Its stock tanked by 7.4% after it reported disappointing subscriber growth in Q1 and predicted much of the same for Q2. Indeed, Verizon (VZ, -0.4%), Halliburton (HAL, -3.6%) and Edwards Lifesciences (EW, +6.3%) were among a few dozen companies to announce Street-beating earnings over the past 24 hours alone. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
The Essentials You Need for an Estate Plan
If you’ve been putting off your estate plan, you aren’t alone. Otherwise, the beneficiary instructions take precedence, even if you ask for something different in your will. “For that, you’ll need a living will, also known as an advance directive or medical POA.” A living will names a conservator to make medical decisions on your behalf. Your living will should serve as a guide for the conservator by listing medical instructions for yourself. My mother had to go to court just for the right to make his medical decisions,” says Simasko.
Did You Know Your Financial Adviser Can ‘Fire’ You as a Client? Here Are 6 Times When They Should
Our goal as financial advisers usually is to build our client base, not reduce it, so letting go of clients seems counterintuitive. Below I address six scenarios and circumstances where I believe a financial adviser should fire a client. The client doesn't fit your ideal client profile We are going through new ownership and rebranding in my current firm. This is a “win-win” for the adviser and the client because you can focus your services to best fit your clients’ needs. A solution here may be referring the client to a different adviser or firm that can better meet their needs.
Coors Seltzer Doesn’t Want You to Shower on Earth Day
Coors Seltzer is aiming for dirty humans and clean rivers on Earth Day . Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth.
Here are the CMOs Who Have Stepped Into New Roles This Year
Here are the CMOs Who Have Stepped Into New Roles This YearThe majority of moves seen in apparel, entertainment, retail, auto and restaurants.
The Curtain on Earth Day! The Musical to Rise on Facebook Watch
Facebook teamed up with EarthDay.org on Earth Day! The Musical, which will debut on the Facebook Watch page at 9 a.m. PST/noon EST on Earth Day (Thursday, April 22). Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth.
4 Things a Marketer Learned at the Apple Event
I’m someone with a fascination with Apple. Here are the four main takeaways from Apple’s event on Tuesday:Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth.
Don’t Ghost Your Mentors and Mentees
Editor’s note: This piece is part of our Columnist Network series, which explores the tactical thoughts and actions from Adweek’s community of high-level experts. Today, Pinterest’s global head of business marketing Jim Habig reflects on how we’ve lost connection with our mentors and mentees during the pandemic—and how to rekindle these relationships.
Unilever’s Love Beauty and Planet Rolls Out Reusable Bottles
As its name implies, personal care brand Love Beauty and Planet was designed with sustainability in mind. Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth.
The Practices That Set Learning Organizations Apart
Member Free 5 free articles per month, $6.95/article thereafter, free newsletter. The authors validated their initial findings through a survey of learning and development (L&D) and HR professionals, with 251 responses. This research was funded through support from two Irish government organizations: the Trainers’ Learning Skillnet and the Irish Institute of Training and Development. The results show that relatively few organizations had strong L&D programs in place before the pandemic. The Case for Investments in L&DWe conducted our quantitative survey in 2019 and found that few organizations had a strategic, forward-looking approach to L&D.
Live updates Biden convenes world leaders for virtual climate summit, seeking to restore U.S. leadership
Japanese Prime Minister Yoshihide Suga announced Thursday that his country is setting a target for reducing greenhouse gas emissions, with a benchmark reduction of 46 percent by 2030 compared with 2013 levels. “Japan is now taking a giant step forward toward solving global challenges,” Suga said as he announced the move, which came hours before the start of a virtual climate summit convened by the Biden administration. Japan had previously been aiming for a 26 percent reduction in greenhouse gas emissions, a target that was criticized as far too modest for the world’s third-biggest economy and fifth-largest emitter of carbon dioxide. Shortly after entering office late last year, Suga announced plans for carbon neutrality by 2050, a target similar to those set by other major industrialized countries. Climate groups had a muted reaction to the 46 percent target on Thursday.
Citigroup's Stephen Trent on what to expect from upcoming airline results
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitigroup's Stephen Trent on what to expect from upcoming airline resultsStephen Trent, Airlines Analyst at Citigroup, joins Worldwide Exchange to discuss the airline results out today, and the performance over the past quarter.
Parents getting new $3,000 child tax credit should do this with the money
Good news for parents: Millions of American families with children will start receiving monthly payments from the enhanced child tax credit in July. That's a significant chunk of money for many families to receive on a monthly basis. The new enhanced credit increases the annual benefit per child 17 and younger to $3,000 from $2,000 for 2021. It also gives an additional $600 benefit for children under the age of 6 for the 2021 tax year. The enhanced credit begins to phase out for taxpayers who have higher income and ends for individuals earning $95,000 and married couples filing jointly making $170,000.
Commodity prices are spiking — here's how traders are hedging the risks
Commodity prices are surging this year. Futures for lean hogs, corn, crude oil, gasoline and lumber have spiked in 2021, a sign that investors see the economic rebound as having roots. Futures contracts allow traders to lock in a price for a commodity and give insight into where they believe prices are headed. Quint Tatro, president of Joule Financial, says stock market investors need to pay attention to the signals the commodity market is sending. Matt Maley, chief market strategist at Miller Tabak, called for a long-term rally in the commodity market last summer.
SL Green Realty CEO Marc Holliday on workers returning to the office
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSL Green Realty CEO Marc Holliday on workers returning to the officeAt least 7 million new square feet is up for grabs in half a dozen new or renovated Midtown office towers, according to a new report. It comes as New York City continues to deal with the question of when or if businesses will make a full return to the office. Marc Holliday, chairman and CEO of SL Green Realty, joined "Squawk Box" on Thursday to discuss.
Bowersock Hill: There's a bubble building in certain parts of the market, and it's good time to take profits
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBowersock Hill: There's a bubble building in certain parts of the market, and it's good time to take profitsEmily Bowersock Hill, founding partner of Bowersock Capital at Sanctuary Wealth, discusses which parts of the markets may have run up a bit too much -- large cap U.S. stocks, consumer discretionary -- and where in the world some attractive options may lie.
Brian Sullivan's RBI: The amount not collected in taxes every year
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrian Sullivan's RBI: The amount not collected in taxes every yearBrian Sullivan's daily RBI segment on Worldwide Exchange focuses on taxes, and just how much money is lost to the IRS every year from unpaid taxes.
Airline losses mount but the worst appears to be over
But after a year of massive losses, airlines are showing signs that better times lie ahead. The story and the outlook was much the same at, which reported a loss of $2.7 billion in the first quarter, excluding special items. "We've gotten through the worst of this for certain," said CEO Doug Parker in an interview on CNBC. It also reported a slightly smaller than loss excluding items. American reported a net loss even with the federal help.
Stocks making the biggest moves in the premarket: American Airlines, Teradata, Equifax & more
The stock rallied 3.6% premarket after American said its cash flow turned positive by the end of the quarter, excluding debt payments. Equifax (EFX) – The credit reporting agency's stock jumped 8.5% in premarket trading after it reported better-than-expected earnings and raised its annual guidance. Tractor Supply (TSCO) – The farm equipment and supplies maker earned $1.55 per share for its latest quarter, well above the 97 cents a share consensus estimate. Discover Financial (DFS) – The financial services company earned $5.04 per share for its latest quarter, beating the $2.82 a share consensus estimate by a wide margin. Netgear (NTGR) – The computer networking equipment maker's shares fell 3.5% in premarket trading after giving a weaker-than-expected current-quarter forecast.
Deutsche Bank sees a short-term trade opportunity in Ford ahead of earnings
The Ford company logo is displayed on a sign outside of the Chicago Assembly Plant on February 03, 2021 in Chicago, Illinois. Shares of Ford could enjoy a sizable jump in the coming weeks thanks to an earnings report next week and an analyst day expected later this spring, according to Deutsche Bank. The investment firm has a hold rating on the stock overall but added a short-term buy call ahead of Wednesday's earnings report. Deutsche Bank said in a note to clients on Thursday that Ford could be set for a significant first-quarter earnings beat.
Foxconn's giant factory in Wisconsin sounded too good to be true. Turns out it was
New York (CNN Business) When first announced in 2017, Foxconn's plan to build a massive electronics factory in Wisconsin was hailed by then-President Donald Trump as a sign of the rebirth of American manufacturing. And this week it became official: The pledged investment of up to $10 billion to create as many as 13,000 jobs is not coming. The Wisconsin Economic Development Corp. and the Taiwanese electronics maker signed a revised incentive deal outlining a $672 million investment from Foxconn that will create fewer than 1,500 jobs. "When I ran to be governor, I made a promise to work with Foxconn to cut a better deal for our state," Gov. "The last deal didn't work for Wisconsin, and that doesn't work for me."
Southwest Airlines says leisure bookings improving, expects to break even in June
Southwest Airlines on Thursday said leisure travel bookings continue to rise and that it expects to break even "or better" by June. Southwest's shares were up 1% in premarket trading, after trading lower before it reported results. Meanwhile, American Airlines posted a $1.25 billion net loss, its fifth consecutive quarterly loss. The Fort Worth, Texas-based carrier, like its large-carrier rivals Delta and United, has been forced to do without much of the business and international travel revenue, they long relied on. Southwest's revenue fell to $2.05 billion, down more than 51% from last year and slightly below the $2.07 billion Wall Street analysts were expecting.
Futures muted ahead of jobless claims data, AT&T rises after results
A U.S flag is seen on the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., November 6, 2020. read moreSouthwest Airlines Co (LUV.N) posted a smaller-than-expected quarterly adjusted loss and forecast lower cash burn in the second quarter. The airline's shares, however, fell 1.7%. read moreMeanwhile, official data is likely to show that the number of Americans filing new claims for jobless benefits rose last week. Its shares rose 0.3% in premarket trading.
Analysis: U.S. financial regulators in hot seat as Biden ramps up climate agenda
REUTERS/David RyderAs U.S. President Joe Biden escalates his climate change agenda, pressure is growing on the country's regulators to catch up with Europe and incorporate various risks posed by climate change into their oversight of the financial system. After the Trump administration's assault on climate change policy, the United States lags Europe on financial climate risk and is under pressure from countries there to catch up. European regulators have also begun adding climate risks to annual bank exams, a step the Fed has so far resisted. And the Federal Reserve, CFTC and housing finance agency have begun assessing how climate change could affect lenders, trading firms and the markets they oversee. Many such measures will be opposed by Republicans and corporate lobbyists, who say Democrats are using financial policy to advance a political agenda.
The debt limit is back (kind of)
The debt limit is back (kind of) Presented by Sallie Mae®Editor’s Note: Morning Money is a free version of POLITICO Pro Financial Services' morning newsletter, which is delivered to our subscribers each morning at 6 a.m. Quick FixThe debt limit is back (sort of) — Remember the debt limit? MM spent much of the Obama administration covering debt limit battles. A message from Sallie Mae®: You shouldn’t need a college degree to figure out how to pay for college. This responsible approach is working: 97% of Sallie Mae loans in repayment are being repaid on time and less than 2% default annually.
Atlantic Union: Q1 Earnings Snapshot
RICHMOND, Va. (AP) _ Atlantic Union Bankshares Corporation (AUB) on Thursday reported first-quarter earnings of $56.2 million. The bank, based in Richmond, Virginia, said it had earnings of 67 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share. The holding company for Atlantic Union Bank posted revenue of $178.7 million in the period. Access a Zacks stock report on AUB at https://www.zacks.com/ap/AUB
Safety, Income and Growth: Q1 Earnings Snapshot
NEW YORK (AP) _ Safety, Income and Growth Inc. (SAFE) on Thursday reported first-quarter earnings of $16.9 million. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 32 cents per share. Safety, Income and Growth shares have decreased almost 3% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAFE at https://www.zacks.com/ap/SAFE
Lab director blames hospital for fertility clinic failure
Three years after a malfunctioning storage tank destroyed thousands of frozen eggs and embryos at an Ohio fertility clinic, its former lab director is blaming what he described as bungling staff and administrators who ignored his warnings. The claims made for the first time in legal filings this month have ignited a flurry of accusations between University Hospitals in Cleveland and its former employee and his attorney. Andrew Bhatnager, who oversaw the clinic’s fertility tanks, said in an affidavit quickly sealed by a judge that a series of avoidable mistakes led to the tank failure. Hospital attorneys called his statements “salacious, misleading and untrue” and have asked a northeastern Ohio court to stop Bhatnager’s lawyer from releasing what it says is confidential information. That failure and a second one the same day at a fertility clinic in San Francisco were the biggest such losses on record in the U.S., causing centers around the nation to review their procedures.
German ‘emergency brake’ plan clears last legislative hurdle
The upper house, where Germany’s 16 state governments are represented, could have held up the plan by seeking renegotiations but let it pass. The legislation calls for limiting personal contacts, closing leisure and sports facilities and shutting or restricting access to many stores. Germany’s nationwide rate stood at 161 new cases per 100,000 residents on Thursday, though there were wide regional variations. The country’s initially slow vaccination campaign has gathered pace , with 21.6% of the population now given a first dose. “I hope with all my heart that what we are doing now is successful,” Hesse governor Volker Bouffier said in Thursday’s debate.
First Merchants: Q1 Earnings Snapshot
(AP) _ First Merchants Corp. (FRME) on Thursday reported first-quarter profit of $49.5 million. The Muncie, Indiana-based bank said it had earnings of 91 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME
The Latest: Biden administration opens global climate summit
President Joe Biden speaks to the virtual Leaders Summit on Climate, from the East Room of the Wh...President Joe Biden speaks to the virtual Leaders Summit on Climate, from the East Room of the Wh...WASHINGTON (AP) — The Latest on President Joe Biden’s global climate summit (all times local):8 a.m. The Biden administration has opened a global climate summit including 40 world leaders. President Joe Biden recently announced a pledge to cut at least in half the climate-wrecking coal and petroleum fumes that the U.S. pumps out. That’s a commitment Biden hopes will spur China and other big polluters to speed up efforts of their own. Read more:— What to Watch : In Biden climate show, look for cajoling, conflict, pathos
Cleveland-Cliffs Earnings Top; Steel Leader Nucor Misses
Nucor earnings and revenue fell short. STLD stock held near a buy point after Steel Dynamics' Q1 earnings topped estimates late Monday. Cleveland-Cliffs EarningsEstimates: Analysts forecast Cleveland-Cliffs earnings of 33 cents vs. 4 cents a year ago, according to Zacks Investment Research. Nucor EarningsEstimates: Analysts expect Nucor earnings per share of $3.14, up 217% from a year ago. Ahead of the Q1 report, analysts expected Nucor earnings per share of $3.29 for Q2 and $9.05 for all of 2021.
AAL Stock: American Airlines, Southwest Report Steep Losses, But See Demand Improving
American Airlines (AAL) reported mixed first-quarter results while Southwest Airlines (LUV) beat forecasts earlier Thursday. AAL stock and LUV stock rose slightly. AAL stock has a 44 Composite Rating, with an EPS Rating, which measures profit growth, of 10. YOU MAY ALSO LIKE:Is AAL Stock A Buy As Air Travel Recovers? Here's What Earnings, Delta Stock Chart ShowDoes Reopening Of 3 European Markets Make United Airlines Stock A Buy Right Now?
AT&T Stock Rises As Wireless Subscriber Additions Beat, WarnerMedia Rebounds
AT&T stock rose as WarnerMedia revenue also rebounded. AT&T Stock: Wireless Subscriber Additions Top EstimatesIn addition, AT&T said it added 595,000 postpaid wireless phone customers vs. estimates for a 216,000 gain. AT&T stock rose nearly 2% to 30.70 in early trading on the stock market today. Despite its 7% dividend, AT&T stock holds a Relative Strength Rating of only 25 out of a best-possible 99. AT&T stock recently forged a flat base, with an entry point of 31.99.
How A Home Depot Store Manager Became A Top CEO
Tom Taylor joined Home Depot (HD) at just 16 years old — and became its youngest store manager at 22. It's also important to know just because you're CEO doesn't mean you always know better than employees on the store floor. Build On Your Experience Like The Floor & Decor CEOHeadquartered in Atlanta, Floor & Decor (FND) sells hard-surface flooring and tile. Floor & Decor CEO: Learn From ExperienceTaylor grew up in Florida in a "middle-class family." Floor & Decor CEO Taylor's KeysFloor & Decor CEO since 2012.
Worried Stocks Just Peaked? Get Paid To Sit Out The Market
ETF giant Vanguard just launched its own version, the low-cost Vanguard Ultra-Short Bond ETF (VUSB), in March. Hiding From S&P 500 Is Getting ExpensiveBut overall, these ETFs are losing ground as yields fall and the S&P 500 soars. The Vanguard Total Bond Market ETF (BND) yields more, 1.3%, but owns securities that mature on average in more than six years. Ultra-Short Not The Only Way To Gird For S&P 500 VolatilityBut sitting out the S&P 500 is costly. But in the meantime, ultra-short bond ETFs "squeeze out better yield than (investors) can get from a money market," Crigger said.
State Foster Care Agencies Take Millions Of Dollars Owed To Children In Their Care
State Foster Care Agencies Take Millions Of Dollars Owed To Children In Their CareTristen Hunter was 16 and preparing to leave foster care in Juneau, Alaska, when a social worker mentioned that the state agency responsible for protecting him had been taking his money for years. State foster care agencies collected more than $165 million from these children in 2018 alone, according to the most recent survey data from the research group Child Trends. Nationwide, foster care agencies are funded through a complicated web of federal and state grants and subsidies, paid for by taxpayers. Children's Social Security benefits were not intended to be one of those funding streams, according to federal law. The spokesperson also pointed out that per federal law, the Social Security Administration conducts regular oversight of state foster care agencies that obtain kids' benefits.
Opinion: Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
The serial frenzies in meme stocks like GameStop GME, -0.01% and cryptocurrencies like dogecoin DOGEUSD, -14.55% make this a good time to contrast what investors should do from what many seem to do. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. This excludes at least some meme stocks and many currently faddish “blank-check” IPO-mergers. For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility.
Goldman Sachs says S&P 500 returns may tumble as U.S. economic growth peaks. Buy these stocks.
Our call of the day is from the team at Goldman Sachs, led by Ben Snider, who warns that as economic growth peaks, investors should expect lower equity returns and higher volatility. Chart via Goldman Sachs“Decelerating growth is usually associated with weaker, but still positive, equity returns and higher volatility,” the strategists say. Since 1980, the S&P 500 SPX, +0.93% has seen average monthly returns of 1.2% when economic growth was positive and accelerating, but just 0.6% when growth was positive but decelerating. Economists at Goldman Sachs expect economic growth in Europe, Japan, and emerging markets outside of China to peak later than in the U.S. — in the third quarter of this year. Goldman Sachs GS, +1.02% has two pieces of advice: Buy global-facing cyclicals relative to domestic-facing cyclicals and buy a basket of “Europe reopening” stocks, which have lagged behind “U.S.
How Has Client Interest in ESG Investing Changed?
Welcome to The Big Q, our regular feature where we ask top advisors and wealth management executives for their best answers to challenging questions. Join the conversation with your peers by using the comments section below, and check back for additional answers and reader feedback. The latest question: How much has client interest in environmental, social, and governance investing changed lately? “We have clients shift more quickly from asking ‘why’ to ‘how’ as they look to incorporate sustainable strategies in portfolios....
Hamptons Sellers Bask in a Luxury Buying Spree
The Covid-19 pandemic sent many New Yorkers running for the Hamptons, and a year later, the market remains robust and inventory is at record lows, according to a Douglas Elliman report on Thursday. First-quarter sales in the Hamptons jumped 48.4%, compared to the same time last year, the data showed. Meanwhile, the median price of an East End home was up 31.3% to $1.3 million, and supply was down 40.5% year over year. "The market pace remained brisk, with heavy sales volume and limited inventory,” according to the report. “This market doesn’t show any signs of slowing down and the intoxicating mix of privacy, space and beautiful beaches continues to lure New Yorkers out East,” according to Mr. Cervi.
Would New York’s Proposed Pied-à-Terre Tax Hit Apartment Owners With Multiple Units?
The second unit serves as additional living space for me and my family, including my mother when she is in town. Would this second unit potentially be subject to the proposed pied-à-terre tax being discussed in Albany? The New York State Legislature was considering an additional tax on second homes earlier this year, but it was not part of the 2022 budget released earlier this month. The so-called pied-à-terre tax would have meant an extra charge on non-primary residences in cities with more than 1 million people. Click to Read Tax Experts Share Answers and Advice for Readers’ Pressing Tax QuestionsEmail your questions to editors@mansionglobal.com.
Gold pulls back from nearly 2-month high
Gold futures edged lower Thursday, after pushing to a nearly two-month high in the previous session as investors weighed surging COVID-19 cases outside the U.S.Gold for June delivery GC00, -0.56% GCM21, -0.56% was down $5.70, or 0.3%, at $1,787.40 an ounce on Comex. May silver SIK21, -0.72% was off 13.5 cents, or 0.5%, at $26.435 an ounce.
Biogen's stock is up, though revenue fell 25% for the quarter
Shares of Biogen BIIB, -1.23% gained 1.4% in premarket trading on Thursday after the drug maker beat earnings expectations and even though it saw revenue drop 25% for the quarter. Biogen had earnings of $410.2 million, or $2.69 per share, in the first quarter of 2021, compared to $1.4 billion, or $8.10 per share, in the like quarter in 2020. Biogen's revenue fell roughly 25% to $2.69 billion for the quarter, down from $3.53 billion in the first quarter of last year. Its top-selling drug is multiple-sclerosis therapy Tecfidera, which generated $479.3 million in revenue for the quarter, down from $1.1 billion in the same quarter last year. Biogen's stock is up 10.2% for the year, while the S&P 500 SPX, +0.93% has gained 10.1%.
HCA Healthcare stock jumps into record territory after profit and revenue beats, raised outlook
Shares of HCA Healthcare Inc. HCA, +2.38% hiked up 2.5% into record territory in premarket trading Thursday, after the hospital operator reported first-quarter profit that more than doubled and beat expectations, and raised its full-year outlook, even as same-facility admissions declined. Net income grew to $1.42 billion, or $4.14 a share, from $581 million, or $1.69 a share, in the year-ago period. Revenue increased 8.7% to $13.98 billion, beating the FactSet consensus of $13.63 billion. Same-facility equivalent admissions declined 6.5%, while same-facility revenue per equivalent admission increased 16.6%. Same-facility emergency room visits dropped 18.4% and same-facility inpatient surgeries were down 5.4%, while same-facility outpatient surgeries increased 2.3%.
Credit Suisse Taps Investors for Cash After Archegos and Greensill Debacles
Credit Suisse branch building in downtown Geneva, Switzerland. AFP via Getty ImagesSwiss bank Credit Suisse said on Thursday it would sell convertible notes to its current shareholders in a bid to raise nearly $2 billion of fresh capital, to repair its balance sheet after losses triggered by the meltdowns of U.S. hedge fund Archegos Capital Management and British supply-chain finance group Greensill.
Here’s What Analysts Are Saying About Credit Suisse’s New Archegos Loss
Expectations weren’t high heading into Credit Suisse ‘s first-quarter results, having already issued a profit warning, but the Swiss bank still managed to shock the analysts that follow the banking giant. Credit Suisse shares dropped 6% in midday Zurich trade and have lost about 30% since the bank first disclosed it would take a loss on Archegos. Credit Suisse also said it was “reasonably possible” it will have to take a loss over the suspension of $10 billion worth of supply-chain funds tied to fallen Greensill Capital. The bank announced a $35 billion reduction in the leverage its investment bank business—and within there, the prime services business—will provide. Mathers said all the businesses are being reviewed, but that Credit Suisse “pretty much outperformed everybody else in the first quarter.”
European Central Bank leaves rates, bond-buying program unchanged
The European Central Bank, as expected, left interest rates unchanged and made no changes to its bond-buying efforts on Thursday. The central bank said it would continue to buy bonds under its 1.85 trillion euro pandemic emergency purchase program until at least the end of March 2022, while net purchases under its asset purchase program would continue at a monthly pace of 20 billion euros. The ECB said PEPP purchases, as decided at the ECB's previous meeting, will continue at a significantly faster pace over the current quarter. Interest rates were left unchanged, with the main refinancing rate at 0% and the deposit rate at minus 0.5%. ECB President Christine Lagarde will hold a news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern.
AT&T earnings, revenue rise as company sees some recovery from COVID-19
AT&T Inc. topped expectations with its first-quarter earnings and revenue Thursday morning as the company benefited from a greater demand for higher-priced smartphones and saw some recovery in its WarnerMedia business from the impacts of the pandemic. The company posted net income of $7.5 billion, or $1.04 a share, up from $4.6 billion, or 63 cents a share, in the year-earlier period. After adjusting for factors such as an actuarial gain on benefit plans and amortization costs related to merger activity, AT&T T, +0.74% generated earnings per share of 86 cents, up from 84 cents a year prior and ahead of the 78 cents that analysts surveyed by FactSet had been projecting.
Opinion: Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
The serial frenzies in meme stocks like GameStop GME, -0.01% and cryptocurrencies like dogecoin DOGEUSD, -14.84% make this a good time to contrast what investors should do from what many seem to do. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. This excludes at least some meme stocks and many currently faddish “blank-check” IPO-mergers. For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility.
Goldman Sachs says S&P 500 returns may tumble as U.S. economic growth peaks. Buy these stocks.
Stocks got back on the horse on Wednesday, with both the Dow and S&P 500 indexes finishing at their second-highest levels ever, as investors continue to smile on strong economic growth prospects. Strategists at Goldman Sachs are bullish on the U.S. economy, expecting sequential annualized U.S. gross domestic product growth to clock in at 10.5% in the second quarter of 2021. That would be the strongest quarterly growth rate since 1978 (outside of the surge in mid-late 2020, when the economy rebounded from a sudden halt).
BBVA aims to cut around 3,800 jobs, close branches
Banco Bilbao Vizcaya Argentaria SA is seeking to cut 3,798 jobs and close around 530 branches, according to a Spanish union. Most of the branches to be closed are in the Catalonia region, Jorge Villarino of Comisiones Obreras told The Wall Street Journal.
The ‘greening’ of the S&P 500: 7 charts for Earth Day
For Earth Day, the Bank of America equity and quant strategy team, led by Savita Subramanian and Marisa Sullivan, created a punch list highlighting the “surprising greening” of the S&P 500 SPX, +0.93% . The bulk of S&P 500-linked emissions — 70% — are generated by industrials, utilities and energy combined, yet these stocks are less than 15% of the total index. Read: ‘ESG’ funds have more energy stocks than you might thinkFrom there, the “green” dissection of the index is more nuanced. The BofA team tracked higher multiples for the S&P 500 stocks linked to low emissions, net zero targets and water efficiency. Financial firms have faced fresh scrutiny, however, that despite emissions pledges for their operations, banks continue to fund traditional energy sectors whose emissions pollute.
ECB Keeps Rates Steady and Asset-Buying Program Unchanged
The European Central Bank on Thursday decided to “reconfirm” its monetary policy, with its key interest rate unchanged at minus 0.5% while the ceiling of its Covid-19 pandemic-specific asset buying remained at €1.85 trillion ($2.2 trillion). The Bank explained its decision in a statement after a meeting of its governing council in Frankfurt, which noted that financial conditions and the inflation outlook in the eurozone had not changed since it last met on Mar. The ECB reiterated that it stands ready to act and use all tools at its disposal to guarantee that “favorable financing conditions” are maintained throughout the eurozone, including by increasing the amount of quantitative easing or prolonging the program beyond its end in March 2022. Members of the ECB’s six-strong executive board and of its governing council (which includes the board as well as the 19 national central bank governors) have begun to discuss and diverge on the direction of monetary policy once the recovery is on more solid grounds. Some members of the governing council have begun to argue that the current accommodative policy could be phased out in the coming months if the recovery firms up in the second half of the year.
Siegel Says We're in a Bull Market, But Beware of Bonds
Now, data across the world is flashing warning signs again. “This activity builds inflation expectations, which leads fixed-income investors to seek protection in CPI-linked securities.”Inflation expectations are likely to keep climbing as emerging-market central banks take the lead from the Federal Reserve, Roche said. The Fed has signaled that it will continue with expansionary monetary policy for an extended period. While concern is high, inflation quickened less than forecast in March as underlying pressures remain muted for now. Inflation accelerated to 16.2% in March from 14.6% at the start of the year.
Stocks seek direction as Biden holds climate summit
U.S. stock futures slipped in early trading a day after the major averages got back on track following two days of selling. The early selling comes as President Biden holds a virtual conference with 40 world leaders, including Chinese President Xi Jinping, where he will pledge to lower U.S. greenhouse gas emissions by up to 52% from 2005 levels before the end of the decade. GOP SENATORS WARN BIDEN ADMINISTRATION ON DE-BANKING ENERGY COMPANIESIn stocks, automakers were among the groups in focus as Biden gets set to unveil his climate actions. The bank expects an additional 600 million Swiss franc charge in the current quarter. In Asia, China’s Shanghai Composite index slipped 0.23% while Hong Kong’s Hang Seng index and Japan’s Nikkei 225 climbed 0.47% and 2.38%, respectively.
Qualtrics International Sees Its Charts Greatly Improve
In his first Executive Decision segment of Wednesday''s "Mad Money" program, host Jim Cramer spoke with Zig Serafin, CEO, and Ryan Smith, founder and executive chairman, of Qualtrics International (XM) , an experience management platform. For a growing number of companies, an experience management platform is becoming critical, he said. That's why the state of Missouri is using Qualtrics to gather valuable feedback on its vaccine distribution program. The On-Balance-Volume (OBV) line shows a decline until April 12, after which it has been improving. Bottom line strategy: Aggressive traders who are comfortable trading relatively new issues could go long XM around $36.
Binance Under Scrutiny Over its Tesla and Coinbase Stock Tokens
Binance, one of the world's largest cryptocurrency exchanges, has come under fire from UK regulators over its Tesla (TSLA) and Coinbase (COIN) token listings. Regulators are examining whether Binance has broken securities laws with the issuing of these token representations of stock shares. Binance allows customers who live outside the US, Turkey or China the ability to trade these tokens. In a statement to the Financial Times, the UK's Financial Conduct Authority said that it is "“working with the firm to understand the product, the regulations that may apply to it and how it is marketed. The German regulatory body known as the Federal Financial Supervisory Authority told the Financial Times it could not comment on specifics of the case as it is obligated to be confidential.
Credit Suisse Takes $5.5 Bln Archegos Hit; Swiss Regulator Probes Role
Credit Suisse Group (CS) - Get Report said Thursday that it expects to book a total hit of around $5.5 billion linked to Archegos Capital as Swiss regulators probe the bank's role in the hedge fund's collapse. Credit Suisse said its current quarter earnings would be reduced by around $655 million from the Archegos failure, adding to the $4.7 billion in booked for the three months ending in March. Swiss market regulator FINMA, meanwhile, said Thursday that it has opened enforcement proceedings against Credit Suisse linked to both Archegos Capital and the collapse of Greensill Capital, a specialized lender with links to former U.K. Prime Minister David Cameron. The loss we report this quarter, because of this matter, is unacceptable," said CEO Thomas Gottstein. Credit Suisse's U.S.-listed shares were marked 6.36% lower in pre-market trading Thursday to indicate an opening bell price of $9.72 each.
'Mad Money' Lightning Round: Snap, Boston Scientific
Here's what Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Wednesday evening:Snap (SNAP) - Get Report: "I think they're gonna have a great quarter with fantastic growth." Read the full story from Wednesday's show, Cramer's Mad Money Recap: Netflix, Apple. On Real Money, Cramer keys in on the companies and CEOs he knows best. Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
The Hour Glass Phenomena, Oh Canada, Portfolio Haircut, Earth Day, ESG Investing
Every major equity index not named the Dow Jones Utility Average had a nice day. The U.S. dollar softened throughout the session, partially thanks to the hawkish tone taken by the Bank of Canada. Within the U.S. Dollar Index (DXY), known to currency traders as "the Dixie," the Canadian dollar carries a 9.1% weighting. Trading volume fell significantly from Tuesday to Wednesday at the NYSE, and at the Nasdaq market site. The Bank of CanadaNow, the Bank of Canada really didn't do anything other than revise forward-looking guidance on Wednesday.
I'd Like to Introduce You to Janus Henderson, a Friend of My Portfolio
IVZ Stocks quotes in this article: JHGMoney management firms Janus Group and Henderson of the United Kingdom merged in May of 2017 creating a good-sized multi-national company with geographic diversityJanus Henderson (JHG) figures to post greater than $2.5 billion in 2021 revenues while setting a new all-time high EPS of about $3.45. The company's post-merger numbers are shown below ...
Now Comes the Hard Job of Building on Wednesday's Bounce
The sellers just decided to relent, and as the day progressed buyers gained some confidence and put some cash to work in favorite names. In the early going on Thursday stocks are mixed and there are few signs of continued momentum. Only three stocks missed earnings estimates Wednesday night out of about 50 reports, but good reports have been expected and so far aren't doing much to impact sentiment. It will be tough for secondary names to keep running higher if the big-caps that drive the indices are struggling. There has been a lack of energy plaguing the market lately, and if that doesn't change it is going to be tough to keep this bounce going.
American Airlines Shares Jump As Demand Hopes Offset $2.7 Billion Loss
American CEO Doug Parker said he sees "signs of continued recovery in demand" following another deep quarterly loss of $2.7 billion. American Airlines Group (AAL) - Get Report posted a modestly wider-than-expected first quarter loss Thursday, but noted that improved booking trends will support group liquidity as carriers look to exit the travel-related impact of the coronavirus pandemic. Looking into the current quarter, American Airlines said capacity will be down around 20% to 25% from 2019 levels, and will end the three month period with total liquidity of around $19.5 billion. “We are incredibly proud of the American Airlines team for their continued care of our customers and each other,” said CEO Doug Parker. “Looking forward, with the momentum underway from the first quarter, we see signs of continued recovery in demand," he added.
Bayer Berkeley expansion could create 1,000 jobs: report
BERKELEY — Bayer’s plan for a massive expansion of its Berkeley campus is poised to create several hundred jobs and double the company’s employment at the complex over the next 30 years, a report released Thursday shows. “Bayer is one of Berkeley’s and the Bay Area’s major economic contributors,” stated the new report, which was prepared by the Bay Area Council Economic Institute. By the time the expansion is complete, the Bayer Berkeley campus is expected to support about 3,800 jobs directly or indirectly, the Bay Area Council economics researchers determined. That’s up 76% from the current estimated economic impact of $353.2 for the Bay Area, the report stated. Bayer executives said the company believes it can play a role in helping the Bay Area bounce back from its coronavirus-linked economic woes.
New competitor in the cordless vacuum space has great power but needs longer battery life
This week I’m reviewing the Lupe Technology Pure Cordless vacuum, ($779, lupetechnology.com/products/pure-cordless-vacuum-cleaner), which really surprised me with its power. The Lupe Pure Cordless vacuum has impressive suction power. The Lupe Pure Cordless vacuum cleaner works as a handheld. Emptying the bin of the Lupe Pure Cordless vacuum. I don’t have a Dyson cordless vacuum to compare with the Pure Cordless.
Kraft Heinz Production Associate - Hiring Event in Garland, TX
Stop by our Hiring Event on April 27th to interview for our PRODUCTION ASSOCIATE @ Kraft Foods, 2340 Forest Ln, Garland, TX 75042All positions within the plant, "this position also has accountabilityfor QRMP standards as outlined in the Garland QRMP accountability documents. ESSENTIAL DUTIES AND RESPONSIBILITIESinclude the following. QUALIFICATIONS:To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. While performing the duties of this job, the employee is regularly required to stand and talk or hear. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
Council members look for compromise in Denver7 landmark fight
The fight over whether a television station building should be named a city landmark went before a Denver City Council committee on Tuesday, and members probed whether the two sides could meet in the middle. New York-based apartment developer Property Markets Group is under contract to buy the station’s 2.3-acre block. Three Denver residents, however, have asked the city to designate the building a landmark, which would effectively prevent demolition of the structure. That project’s developer, The X Company, was spun out of Property Markets as a separate company. On Tuesday, the council committee ultimately voted to send the landmark application to be considered by the full council.
South Florida restaurants: Now open, coming soon and closed
A loyal following could not save Eddie Watana’s upscale Thai restaurant, the offspring of his family’s Sukhothai in Fort Lauderdale. He said a bankruptcy filing pre-COVID nearly ended his restaurant but the pandemic was the “final nail in the coffin.” 2571 N. Hiatus Road, Cooper City.
Scooters are coming to Hartford Thursday. 250 electric scooters will be deployed across downtown Hartford.
The LINK e-scooters are expected to be available all throughout Hartford within the next month. The city will have free safety training and a helmet giveaway Friday at Burr Mall between 11 a.m., to 1 p.m., officials said. Local residents can provide feedback about the LINK program at a website, https://www.link.city/hartford.
Choctaw Nation solar farm in Durant to double in size as OG&E invests more in renewable energy
The utility, which serves about 850,000 customers across parts of Oklahoma and Texas, announced Wednesday it will double the size of the Choctaw Nation Solar Farm it operates in Durant. Operations at both the Choctaw farm and the Chickasaw farm near Davis are going well, said Jeff Wood, a lead account executive at OG&E. Choctaw Nation Utility Authority Director Stanley Self is looking forward to expanding the tribe's participation within the program. Solar farm expansion to serve Choctaw Nation and beyondSelf recognizes the growth, which will boost the plant's capacity from 5 to 10 megawatts and increase OG&E's total solar capacity to 32 megawatts, serves more than just Choctaw Nation. It also is building a 5 megawatt farm near Fort Smith, Arkansas, that it expects will begin operating in September.
Epic Chater Schools approves settlement, will likely avoid termination proceedings
The Community Strategies Inc. Board, the school board governing Epic, agreed Wednesday night to a settlement proposed the day before by the Oklahoma Statewide Virtual Charter School Board. The settlement would conclude termination proceedings that threatened possible closure of Epic One-on-One, an online learning platform that makes up 60% of Epic's total student enrollment. Like all virtual charter schools in Oklahoma, Epic One-on-One is authorized to operate through the statewide board. The counter proposal requests Epic One-on-One and Epic Blended have seven-member school boards made up of entirely different people. The settlement also demands all finances and service contracts for Epic One-on-One and Epic Blended be completely separate from each other.
With Europe's economy lagging, ECB to keep stimulus running
Output is not expected to reach pre-pandemic levels until mid-2022, lagging well behind other major pillars of the global economy such as the US and China. The U.S. could reach pre-pandemic output as early as this month, according to an April 14 forecast from the Conference Board, while China was the only major economy to grow in 2020. The U.S. rebound is being propelled by massive relief and stimulus spending by the federal government. One ECB board member, Klaas Knot from the Netherlands, has suggested the ECB could start scaling back pandemic bond purchases later this year in time to phase them out in March 2022. The purchases are a way of pumping newly created money into the economy, a step which helps keep borrowing costs low.
Yes, working from home makes you more productive, study finds
A new study finds that, in fact, remote work does indeed make us more productive. Not everyone is a fan of remote work. The benefits of working from home “will accrue disproportionately to the highly educated and well paid,” the study noted. A better-than-expected experience, technological innovations and investments, and lingering fears of crowds and contagion will all bolster the new working arrangements, according to the research. “Our data on employer plans and the relative productivity of WFH imply a 5% productivity boost in the post-pandemic economy due to re-optimized working arrangements,” according to the paper.
Biden opens climate summit with new US pledge; NC deputy fatally shoots Black man; it's Earth Day
Today is Thursday, April 22, 2021. Let's get caught up. These headlines are in the news this morning: President Biden will open his global climate summit today with an ambitious U.S. pledge; a N.C. deputy fatally shot a Black man while serving search warrant; and it's Earth Day today. Read on for these stories, other top headlines, celebrity birthdays and more. TOP STORIESBiden opening summit with ambitious new US climate pledgeWASHINGTON (AP) — President Joe Biden will open a global climate summit with a pledge to cut at least in half the climate-wrecking coal and petroleum fumes that the U.S. pumps out, a commitment he hopes will spur China and other big polluters to speed up efforts of their own.
Channel Tunnel dividend on track despite Eurostar crisis
The Channel tunnel owner is pressing ahead with plans to pay a dividend despite the uncertainty surrounding the future of passenger rail operator Eurostar. Getlink, a separate company to Eurostar, said the rail operator had carried just 88,051 passengers in the first three months of the year compared with almost 2m in the same period of 2020. The operator is in talks with the UK and French governments over additional support to tide it through until travel restrictions are lifted. Getlink said the number of rail freight trains running under the Channel was down just 10pc, meaning total rail revenues only halved to €32.6m. The 5c a share dividend is far lower than the 35-40c paid to investors in the past.
Telegraph Media Group Subscription Numbers – April 22, 2021 – The Telegraph
Telegraph Media Group (TMG) remains focused on a subscriber-first strategy underpinned by long term investment in The Telegraph’s digital transformation: the numbers that reflect the success of our business are our subscriber numbers. TMG’s transformation will continue into the following years and the 10-1-23 strategy remains central to our vision – namely the aim to reach 10 million registrants and 1 million subscribers to sign up to the Telegraph by 2023. We are transparent with our core monthly subscriber numbers which are omni-channel. We also share both volumes and average revenue per subscription, as below:In March 2021, The Telegraph had:603,468 subscriptions across print and digital, with 9,099 net new subscriptions this monthDigital = 413,187 Print = 190,281ARPS (blended average revenue per subscription): £188.80Weekly average number of active subscriptions across the prior financial month. The Subscriptions and ARPS (annual net revenue per subscription) totals are independently assured by PwC.
Brazil crime: One of world's biggest arms traffickers recaptured
He then spent time in three different states but ran out of money, police chief Mauro César told a news conference after his arrest. Barbieri returned to Rio to claim an estimated 500,000 reais (£65,000; $90,000) in debts owed to him by drug traffickers but he was already under police surveillance, Mr César added.
Cocaine boss 'was shot on his doorstep over debt to crime queen after £20m drugs seizure'
A cocaine boss was shot on his doorstep over debt to an underworld crime queen dubbed 'The Banker' after police seized £20million of his drugs in the UK's biggest-ever land seizure, a court has heard. The victim of that shooting was John Tobin. 'There has been an important observation by the Crown that John Tobin was not involved in the importation of Class A drugs.' Judge Byrne jailed John Tobin for 19 years and eight months and Alan Tobin for 20 years. John Tobin's term was reduced because he had spent 110 days - the equivalent of a 220-day sentence - on remand over a discontinued matter.
Mafia infiltration of Italian tourism sector worth 2.2 bn - report - English
(ANSA) - ROME, APR 22 - The infiltration of Italy's various mafias into the lucrative tourism sector is worth some 2.2 billion euros, almost 40% of it concentrated in the Mezzogiorno where they are based, according to a Demoskopika report of which ANSA has seen an advance copy. Italy's leading mafia, the Calabria-based 'Ndrangheta, has a 40% slice of the lucrative cake, the report said. Some 4,500 tourism companies are at risk of being used for money laundering due to the COVID-19 emergency, the survey said. "A tourism sector on its knees is an appetizing prospect for criminal syndicates", said Demoskopika President Raffaele Rio. Tourism MInister Massimo Garavaglia told ANSA: "the Demoskopika probe on mafia infiltration in tourism is concerning.
Environmental tricks to help make your home Earth-friendly
Share this Story: Environmental tricks to help make your home Earth-friendlyEnvironmental tricks to help make your home Earth-friendly Plenty of things can be done to help save the planet Photo by Photo Alex Schuldtz, The Holmes GroupReviews and recommendations are unbiased and products are independently selected. Try refreshing your browser, or Environmental tricks to help make your home Earth-friendly Back to video Here are some earth-friendly tips for your home in honour of Earth Day. Advertisement Story continues below This advertisement has not loaded yet, but your article continues below. Just because you don’t need that old stuff, doesn’t mean there’s not a family somewhere who could. Shopping essentials Advertisement Story continues below This advertisement has not loaded yet, but your article continues below.
President Joe Biden highlights Ohio business helping get people vaccinated
SPRINGFIELD, Ohio (WDTN) — A small business owner from Springfield got a shoutout from President Joe Biden during a briefing Wednesday afternoon. Patty Young, owner of Young Hair, Inc., was praised by the president for her salon’s creative strategy aimed at getting people in the community vaccinated. “Patty Young owns a hair salon in Springfield, Ohio. Or to get a COVID vaccine?” Woods said. With almost all of their clients vaccinated, the phone calls have slowed down, Woods said the salon’s efforts haven’t stopped.
Know about the reasons behind the cryptocurrency downfall of recent times
Crypto-Currency is a digital asset designed to perform functions of a ‘medium of exchange.’ This does not exist in a physical (paper) form. Explaining this would dive us deep into the complexities of Crypto-Currency functioning, which isn’t the subject matter of today’s topic. Like how more demand instills more excellent value, more transactions would increase the value of a crypto-currency. This has been the prime reason for the fall in the current value of Bitcoin and other Crypto-Currencies. But this couldn’t be sustained as the reasons mentioned earlier significantly spread the air of pessimism in the market.
Japan raises emissions reduction target to 46% by 2030
Prime Minister Yoshihide Suga said Japan will strive by 2030 to cut its emissions by 46% from 2013 levels, up from its earlier goal of 26%, to achieve carbon neutrality by 2050, a target he announced in October. He said Japan would further try to push the reduction as high as 50%. Suga, during a visit to Washington last week, agreed to cooperate in leading global efforts to reduce carbon emissions by promoting clean energy technologies and implementing the 2015 Paris climate accord. The 2050 emissions-free target would require drastic changes and likely prompt calls for more nuclear plant restarts. He also promised to reduce Japan’s reliance on coal-fired energy by promoting conservation and maximizing renewables, while promoting nuclear energy.
Chanel loses EU court battle over Huawei logo
Added: 21.04.2021 17:46 | 31 views | 0 commentsThe EU General Court ruled that the differences between the firms' logos "are significant".
E.On compensates customers after Christmas blunder
E.On compensates customers after Christmas blunderAdded: 22.04.2021 8:10 | 17 views | 0 commentsSource: en.wikipedia.orgThe energy firm will pay more than £650,000 after taking payments on Christmas Eve instead of January. More in www.bbc.co.uk »
Biden signs $1.9T relief bill before speech to nation
Biden signs $1.9T relief bill before speech to nationAdded: 11.03.2021 20:35 | 15 views | 0 commentsSource: www.wbur.orgThe signing came hours before Biden delivers his first prime-time address since taking office Marking a year of loss and disruption, President Joe Biden on Thursday signed into law the $1.9 trillion relief package that he said will help the U.S. defeat the coronavirus and nurse the economy back to health. The signing came hours before Biden delivers his first prime-time address since taking office. He’s aiming to steer the nation toward a hungered-for sentiment — hope — as he marks one year since the onset of the pandemic that has killed more than 529,000 Americans. “This historic legislation is about rebuilding the backbone of this country,” Biden said as he signed the bill in the Oval... More in article.wn.com » Economy Tags: President
How product placements may soon be added to classic films
How product placements may soon be added to classic filmsAdded: 22.04.2021 11:18 | 14 views | 0 commentsGetting consumer goods in shot is big business for movies and TV series, and items can now be added digitally.
Greensill lender Credit Suisse suffers 'unacceptable' loss
Added: 22.04.2021 10:17 | 6 views | 0 commentsCredit Suisse raises $2bn to shore up its finances as regulators open another probe into the Swiss bank.
Quad to hold first-ever head of states meet today
Added: 12.03.2021 4:42 | 16 views | 0 commentsNew Delhi [India], March 12 (ANI): Quadrilateral Security Dialogue (Quad), a strategic forum comprising India, Japan, Australia and the United States of America, will hold its first-ever head of states meet virtually on Friday. Prime Minister Narendra Modi of India will be meeting virtually with President Joe Biden of the United States, Prime Minister Yoshihide Suga of Japan, and Prime Minister Scott Morrison of Australia. The Quad, mooted by former Japanese Prime Minister Shinzo Abe in 2007, has met regularly at the working and foreign ministers...
Big Tech Got $3 Trillion Bigger During the Pandemic – and Became a Bigger Target
Big Tech Got $3 Trillion Bigger During the Pandemic – and Became a Bigger TargetAdded: 12.03.2021 3:06 | 14 views | 0 commentsSource: www.upi.comWhile the past year has been financially and emotionally crippling for millions of Americans, the nation's tech giants have not only survived, but thrived. This week marks the unhappy one-year anniversary of when the weight of the coronavirus pandemic seemed to really hit the U.S., when Tom Hanks and Rita Wilson both announced they'd tested positive for COVID-19 and the NBA halted its season - two major indicators life was about to go sideways. At the same time, the stock market was tanking, with the Dow absorbing its biggest single-day percentage decline since the "Black Monday" crash of 1987; the tech-heavy Nasdaq was beat up nearly as bad, dropping more than... More in article.wn.com » Tom Hanks Tags: NBA
China wraps up annual session, paves way for Xi's third term
Added: 12.03.2021 2:13 | 14 views | 0 commentsChina wrapped up this year's annual session of the country's parliament after paving the way for a controversial third term for President Xi Jinping, with its neighbor Japan increasingly on guard against the Asian power's ambition. In a bid to cement the authority of the Communist Party, the National People's Congress on Thursday adopted a resolution to alter Hong Kong's electoral system so that the mainland can exclude pro-democracy activists from the political arena in the territory. Also at the parliament, the Chinese government pledged to take measures to surpass the United States as the world's biggest economy by 2035, highlighting Xi's eagerness to remain in power at least for the next...
Russia stands up to Putin: Thousands ignore threats and protest in support of Navalny
Russia stands up to Putin: Thousands ignore threats and protest in support of NavalnyAdded: 21.04.2021 21:21 | 24 views | 0 commentsRUSSIA descended into chaos today as thousands of protestors defied coronavirus restrictions in order to protest against Vladimir Putin.
EU not doing enough to undermine Putin’s operations, claims Russian activist
Added: 22.04.2021 5:20 | 16 views | 0 commentsTHE EU could seriously undermine Putin's operations if they followed in the footsteps of the US and took a harder stance against Russia, an activist has claimed.
India variant: Expert warns new Covid case is 'triple mutant' and threatening world surges
Added: 22.04.2021 9:05 | 10 views | 0 commentsTHE INDIA Covid variant has been classed as a "triple mutant" by one expert who warned the new strain will be tracked elsewhere.
EU artificial intelligence rules will ban 'unacceptable' use
Added: 21.04.2021 13:28 | 32 views | 0 commentsAn outright ban on some AI systems, such as "social scoring" by governments, is proposed for the EU.
Chanel loses EU court battle over Huawei logo
Added: 22.04.2021 7:17 | 15 views | 0 commentsThe EU General Court ruled that the differences between the firms' logos "are significant".
Buy Apple AirTags: Price, release date, when the new tracker tags go on sale
Added: 22.04.2021 9:00 | 17 views | 0 commentsApple's new AirTags can help you find your lost keys, backpack, luggage or nearly anything else you attach them to. Here's how much they cost and when you can get them.
PS5 restock update: How to find inventory at Amazon, GameStop, Best Buy, Target, Newegg and other retailers
PS5 restock update: How to find inventory at Amazon, GameStop, Best Buy, Target, Newegg and other retailersAdded: 22.04.2021 4:18 | 8 views | 0 commentsThe Sony PS5 is still the hottest ticket in gaming. These vendors are your best bets for finding one in stock.
Some parents want to opt out of child tax credit payments. Why and how to do it
Some parents want to opt out of child tax credit payments. Why and how to do itAdded: 22.04.2021 11:18 | 15 views | 0 commentsThe revised child tax credit will be split between seven payments, but not everyone will want to get their money that way. We'll explain your options and what to do.
Biden's next stimulus bill could deliver even more money: What's in it for you?
Biden's next stimulus bill could deliver even more money: What's in it for you? Added: 22.04.2021 10:00 | 16 views | 0 commentsWashington lawmakers are not done looking for ways to send money and lessen debt for Americans still struggling with the results of the pandemic.
Man advertises room for rent with brutal amount of honesty
Added: 15.01.2018 13:26 | 8 views | 0 commentsRaphael Briand is leaving London and is trying to get a new renter to move into his old room (some may find the language offensive)
'Darth Vader' enforces lockdown in Philippine village
Added: 04.05.2020 14:02 | 13 views | 0 commentsDressed as "Star Wars" characters, local officials in the Philippines are out and about to enforce strict quarantine measures while also handing out relief packages.
Novelty toilet roll cakes keep Finnish baker in business
Added: 08.04.2020 16:55 | 11 views | 0 commentsA quick-thinking Helsinki bakery has saved itself from financial ruin due to the new coronavirus pandemic by creating a cake that looks like a toilet roll.
Dow CEO Jim Fitterling on the company's flooded Michigan facility
Dow CEO Jim Fitterling on the company's flooded Michigan facilityAdded: 22.05.2020 16:15 | 13 views | 0 commentsSource: www.themaneater.comJim Fitterling, chairman and CEO of Dow, joins "Squawk on the Street" to discuss the evacuation and flooding of its facility in Michigan. More in www.cnbc.com »
Don't get caught unprepared if disaster strikes. Here's what you can do to get ready
Don't get caught unprepared if disaster strikes. Here's what you can do to get readyAdded: 22.05.2020 14:02 | 17 views | 0 commentsWith more than 38 million Americans out of work since the coronavirus pandemic began, the importance of a financial first-aid kit has never been more important.
Photos show devastating impact of Michigan floods
Photos show devastating impact of Michigan floodsAdded: 21.05.2020 19:45 | 13 views | 0 commentsSource: www.mlive.comThe failure of two Michigan dams on Tuesday evening led to devastating floods and the evacuation of more than 10,000 people. More in www.cnbc.com »
Island nations facing a 'perfect storm' as the coronavirus intersects with hurricane season
Added: 12.06.2020 7:57 | 17 views | 0 commentsAs well as being threatened by a global recession, extreme weather and the ongoing health crisis, many island economies have been hit hard by plummeting international tourism amid the pandemic.
African migrant workers are unable to send money home, cutting off a lifeline to vulnerable communities
African migrant workers are unable to send money home, cutting off a lifeline to vulnerable communitiesAdded: 29.05.2020 11:23 | 16 views | 0 commentsThe coronavirus pandemic is leaving migrant workers unable to send money or goods home to families, cutting off a vital lifeline for communities already under siege from a barrage of external shocks.
This disaster could wipe out your finances – and few people are preparing for it
This disaster could wipe out your finances – and few people are preparing for itAdded: 27.05.2020 16:54 | 11 views | 0 commentsAmericans' finances have been battered by the coronavirus pandemic, and now a new threat is emerging: hurricane season. Only 15% of people polled by the American Institute of CPAs have drafted a disaster plan to deal with it.
Goldman Sachs employs just 49 Black people in top US jobs
Added: 21.04.2021 14:17 | 24 views | 0 commentsGoldman Sachs has just 49 Black executives and senior managers in its US workforce, accounting for about 3% of the total.
U.S. Senate votes to confirm McConnell protege to influential appeals court
Added: 18.06.2020 20:07 | 15 views | 0 commentsThe U.S. Senate on Thursday voted to confirm a federal judge who is a protege of Senate Republican Leader Mitch McConnell to an influential appeals court in Washington.
Nearly 10% of American families struggled with unemployment last year
Added: 21.04.2021 18:18 | 15 views | 0 commentsThe pandemic devastated the once strong US labor market — that much we already knew from various economic data. On Wednesday, the Bureau of Labor Statistics added a bit more detail.
Alexa, should I get bangs? Amazon is opening a hair salon in London
Alexa, should I get bangs? Amazon is opening a hair salon in LondonAdded: 21.04.2021 17:22 | 30 views | 0 commentsGood news for people looking to get a post-pandemic chop: Amazon is opening a hair salon in London. Yes, you read that right.
The parent company of Old Country Buffet filed for bankruptcy
The parent company of Old Country Buffet filed for bankruptcyAdded: 21.04.2021 15:17 | 24 views | 0 commentsFresh Acquisitions, the parent company of a restaurant chain that owns several buffet-style concepts, including Old Country Buffet, filed for bankruptcy.
General Motors CEO announces remote work plan for employees
Added: 21.04.2021 15:17 | 23 views | 0 commentsGeneral Motors chairman and CEO Mary Barra announced Tuesday a more flexible work situation for employees at the company.
'A perfect storm': These restaurants survived the pandemic. Now they can't find workers
'A perfect storm': These restaurants survived the pandemic. Now they can't find workersAdded: 21.04.2021 19:18 | 23 views | 0 commentsA few weeks ago, Philippe Massoud posted online ads looking for a cook to hire at ilili, his New York City restaurant.
U.S. Mail Delays Slow Delivery of Medicines
Added: 20.08.2020 19:33 | 17 views | 0 commentsIn addition to concerns over mail-in voting, the cost-cutting at the Postal Service affects the millions of people who get their prescriptions by mail.
Kehlani expresses outrage, calls for reform after Columbus police shooting: 'What is justice'
Kehlani expresses outrage, calls for reform after Columbus police shooting: 'What is justice'Added: 21.04.2021 15:53 | 15 views | 0 commentsCelebrities including Kehlani and Kathy Griffin are calling for reform after the fatal police shooting Tuesday of 16-year-old Ma'Khia Bryant.
Cruise ships are moving out of the US due to CDC restrictions. Will they return?
Cruise ships are moving out of the US due to CDC restrictions. Will they return? Added: 22.04.2021 12:05 | 9 views | 0 commentsCruise lines are moving ship after ship to other parts of the world as they continue to be barred from cruising in U.S. waters.
Accor preparing for strong rebound this summer
Accor preparing for strong rebound this summerAdded: 22.04.2021 11:27 | 7 views | 0 commentsSource: www.autoevolution.comAccor has reported first-quarter revenue of €361 million for 2021. The figure is down 53 per cent on a reported basis against last year, and down 57 per cent when compared to pre-Covid first quarter of 2019. More in feedproxy.google.com »
IAG seeks to boost use of sustainable aviation fuel
Added: 22.04.2021 10:32 | 8 views | 0 commentsInternational Airlines Group has become the first European airline group to commit to powering ten per cent of its flights with sustainable aviation fuel by 2030.
Wisconsin suspect charged with 3 counts of murder after tavern shooting: report
Added: 22.04.2021 8:33 | 8 views | 0 commentsA suspect who was arrested in connection with last weekend’s shooting deaths at a Wisconsin tavern was formally charged with three counts of murder Wednesday, according to a report.
LeVar Burton will guest host 'Jeopardy!' and he's 'serious' about wanting permanent job
LeVar Burton will guest host 'Jeopardy!' and he's 'serious' about wanting permanent jobAdded: 22.04.2021 4:19 | 14 views | 0 commentsSource: www.blackenterprise.comThe stars have aligned. LeVar Burton has been tapped to guest host "Jeopardy!" after a Change.org petition called for him to take over. More in rssfeeds.usatoday.com »
Tempest Storm, burlesque star who dated JFK and Elvis, dead at 93
Tempest Storm, burlesque star who dated JFK and Elvis, dead at 93Added: 22.04.2021 10:24 | 9 views | 0 commentsStorm had been battling dementia and other health issues in recent months
Stouffer's announces combination lasagna/mac and cheese: LasagnaMac
Added: 22.04.2021 9:00 | 10 views | 0 commentsWho has time to eat a lasagna and mac and cheese separately?
Klacik to LeBron James: Can’t support Biden, a 1994 Crime Bill author, and complain about police brutality
Added: 22.04.2021 8:46 | 8 views | 0 commentsKimberly Klacik, a former Republican congressional hopeful from Maryland, challenged LeBron James over his tweet that critics say threatened the life of an Ohio police officer who fatally shot a teen.
The Moneyist: I’m on track to retire at 58. My fiancée is in debt and drives my old car, and I support her family. How do I ensure my son inherits my wealth after I die?
The Moneyist: I’m on track to retire at 58. My fiancée is in debt and drives my old car, and I support her family. How do I ensure my son inherits my wealth after I die?
Billionaire Sir James Dyson moves residency back to the UK
Billionaire Sir James Dyson moves residency back to the UKAdded: 22.04.2021 6:16 | 12 views | 0 commentsSir James faced criticism in 2019 over relocating his company's global headquarters to Singapore.
Miami Open Day 10 Recap: Ashleigh Barty Advances to Final
World number one Ashleigh Barty advanced to the final of the Miami Open Thursday, moving one step closing towards defending her title at the event.
It's Earth Day 2021. The Circular Economy Can Actually Save You Money
If your business isn't participating in the circular economy, you may want to spend part of Earth Day on Thursday asking yourself, "Why not?" While many companies follow a linear economy in which products are created, used, and thrown away, companies that participate in the circular economy continuously recycle and reuse their materials. For many businesses, getting existing customers to remain loyal to their brand could require switching to a circular model. Many business owners think participating in the circular economy means more expenses, but doing so can actually save businesses money by reusing materials, says Kate Daly, managing director of the Center for the Circular Economy at Closed Loop Partners, an investment firm in New York City. You should also consider publishing a public sustainability report, which the Berlin, Germany-based meal delivery company HelloFresh did with its 2020 sustainability report.
Houzz CEO Adi Tatarko's Biggest Pandemic Lesson: Never Say 'Never'
She'd founded her company, Houzz, in 2009 along with her husband, Alon Cohen. More than a decade later, stay-home orders and subsequent health-and-safety precautions forced Tatarko to work from home again. And in the process, Tatarko learned perhaps her biggest lesson from the pandemic: Never say never. Houzz saw 60 percent growth in homeowners looking for help from professionals during 2020. Houzz also saw a boost in outdoor-space renovations, and investments in using every inch of a property.
Kung Fu Recap: Patience Is a Virtue
Desperate to change the subject, Nicky tells Henry that she’ll talk to him later and leaves with Evan to hear his latest update about Zhilan. After meeting Faye, Nicky heads to the University of California, Berkeley, to meet with Henry, who has scheduled a meeting with Chau’s teaching assistant. At the VIP party, Nicky meets Eddie, the well-intentioned but ill-informed young man who eventually pawns her off to his COO, Brett Slakter, whom he calls “Brometheus.” (Yikes.) When Nicky brings up Faye, Brett assures her that he’s been a huge ally and that he’s been helping to fast-track the unionization process. Henry tells her that they have found the “turducken of puzzles,” as he managed to solve the large puzzle, only to be met with a smaller one.
Considering joining the stock market? Here's how a 401(k) can help you break into investing.
How a 401(k) can help you break into investingOne of the greatest things about 401(k)s is that investing in one is seamless. Index funds are massively managed funds that aim to track the performance of the market indexes they're associated with. Index funds really take the pressure off for new investors -- namely, because they're the perfect "set it and forget it" type of investment. Now one thing you should know is that 401(k)s generally offer a mix of actively managed mutual funds and index funds. In fact, index funds routinely outperform actively managed mutual funds despite costing a lot more.
U.S. Home Sales Are Surging. When Does the Music Stop?
As housing omens go, beware the trending Google search. In the first week of April, U.S. search interest in the phrase “when is the housing market going to crash” jumped 2,450 percent compared to the previous month, and is now more popular than anytime since 2004, according to Google. The search terms “should I buy a house” and “sell my house” also reached record interest. Market watchers are right to be wary. “I think it’s what’s on everybody’s mind,” said Jonathan J. Miller, a New York appraiser who analyzes markets nationwide.
Chevron Lobbies to Head Off New Sanctions on Myanmar
WASHINGTON — The Myanmar military’s coup and brutal crackdown on dissent has left it with few allies in the West. But one of the most sophisticated corporate lobbying operations in Washington has mobilized to head off intensifying pressure on the Biden administration to impose broad sanctions against the state-owned oil and gas company helping to finance the junta. The California-based oil and gas giant says sanctions could endanger the long-term viability of a big Myanmar gas field in which it is a partner, risk worsening a humanitarian crisis for people who rely on the operation for power and expose the company’s employees to criminal charges. Chevron, the second-largest oil and gas producer in the United States, has a longstanding relationship with Myanmar Oil and Gas Enterprise, or MOGE, a state-owned company that is closely connected to the military generals who seized power from elected leaders on Feb. 1. Since then, the military has killed an estimated 740 citizens of Myanmar and detained thousands more.
The U.S. Has a New Climate Goal. How Does It Stack Up Globally?
The United States officially has a new goal for fighting climate change over the next decade. The later baseline makes the United States target look a bit better, because it omits a period when emissions were rising. Mr. Biden unveiled the pledge at the opening of a White House climate summit for world leaders, declaring that the United States is ready to reclaim a leadership role on climate change. Trajectories for the World’s Largest Emitters The United States was still increasing emissions until the mid-2000s, while Europe took earlier action. India China 3.4 0.9 2020 1990 2030 1990 2020 2030 The United States was still increasing emissions until the mid-2000s, while Europe took earlier action.
Our long pandemic hair is finally getting cut — and hair donation charities are overwhelmed
She waited until March, three months after she was vaccinated for the coronavirus, to visit a hair salon. According to Chimera, Hair We Share’s individual hair donor base has increased about 230 percent over the last year. Most of them want long hair,” Chimera explained. (It did not respond to The Washington Post’s requests for comment on pandemic hair donations.) She’ll remember her long hair and then her very short hair as little more than amusing relics of a year she’d like to otherwise forget.
Biden to release climate goals to improve jobs and lower pollution
President Biden is set to announce new goals for reducing greenhouse gas emissions by more than 50% from 2005 levels by 2030 on Thursday as part of the administration's plan to combat climate change. In order to achieve Biden’s climate goals, the administration has suggested cutting energy costs and emissions through building upgrades, expanding rail lines and bike lanes, and improving soil to assist agricultural communities and lower carbon emissions. Biden’s goals to expand jobs and lower greenhouse gas emissions have been met with backlash by Republicans on the Hill who fear high costs to the taxpayer and the destruction of certain industries. Attendees are expected to include China’s President Xi Jinping, United Nations Secretary-General António Guterres, Canadian Prime Minister Justin Trudeau, French President Emmanuel Macron and German Chancellor Angela Merkel. "Together, we can seize the opportunity to drive prosperity, create jobs, and build the clean energy economy of tomorrow."
Invesco's Brian Levitt on the biggest risks to the market
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvesco's Brian Levitt on the biggest risks to the marketBrian Levitt, Global Market Strategist for North America at Invesco, joins Worldwide Exchange to discuss his market outlook.
Earnings still need to justify market uptick, pro says
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings still need to justify market uptick, pro saysLisa Erickson, head of Traditional Investments Group at U.S. Bank Wealth Management, and Gunjan Banerji, markets reporter at the Wall Street Journal's Money and Investment team, joined "Squawk Box" on Thursday to discuss what they're seeing in the markets as earnings season gets underway.
Stock selection matters more than macro right now, fund manager says. Here's why
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock selection matters more than macro right now, fund manager says. Here's whyMarcus Morris-Eyton, portfolio manager at Allianz Global Investors, discusses European equity opportunities and the shift from trading macroeconomic themes to seeking savvy stock calls.
Leveling the financial playing field through education
Leveling the financial playing field through education CNBC + Acorns Invest in You: Ready. and Junior Achievement are partnering to bring students from across the United States together to give them the opportunity to ask a panel of experts questions about the role education plays in leveling the financial playing field. Leveling the Financial Playing Field Through Education CNBC + Acorns Invest in You: Ready. and Junior Achievement are partnering to bring students from across the United States together to give them the opportunity to ask a panel of experts questions about the role education plays in leveling the financial playing field. Invest in You: Finding your financial success will live stream on Thursday, April 22 from 1-2p ET.
Watch CNBC's full interview with Credit Suisse CEO Thomas Gottstein
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Credit Suisse CEO Thomas GottsteinCredit Suisse CEO Thomas Gottstein discusses the Swiss bank's first-quarter earnings, the fallout from the collapse of Archegos Capital, its exposure to Greensill Capital and the outlook for the remainder of 2021.
Index tracking Chinese new economy firms launches in Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndex tracking Chinese new economy firms launches in SingaporeCNBC and the Singapore Exchange jointly launched the iEdge-CNBC China Growth Economy Index, CNBC's Sam Vadas reports.
Piper Sandler downgrades Planet Fitness, says many people may stick with at-home fitness options
A person works out at Planet Fitness as they re-open at 25 percent capacity in Boston's Dorchester on Feb. 1, 2021. Shares of Planet Fitness could stall amid a soft recovery for gyms, Piper Sandler said in a note on Thursday. The investment firm downgraded the stock to neutral from overweight, citing results from a proprietary survey that showed interest in returning to a public gym is still sluggish even as vaccines become more widespread.
Credit Suisse says this could be the beginning of a 'multi-decade' opportunity for clean energy
It's an "exciting" time for renewable energy firms because more policymakers around the world have committed to carbon emissions goals, according to Credit Suisse. "I'm feeling fairly bullish on the current market conditions for energy transition beneficiaries," said Phineas Glover, the investment bank's Asia-Pacific head of environmental, social and governance (ESG) research. The energy transition refers to a move away from reliance on fossil fuels, and toward clean energy alternatives. "We're at the beginning of possibly a multi-decade, secular investment opportunity in the energy transition," he told CNBC's "Street Signs Asia" on Wednesday. That's in part because governments have taken steps that brought certainty to the market.
AT&T beats revenue, wireless subscribers estimates
AT&T Inc's (T.N) wireless subscriber additions more than doubled first-quarter estimates, as the reopening of the U.S. economy after months of pandemic-led restrictions boosted its smartphone sales and media business, pushing revenue past Street targets. The company said on Thursday it added 595,000 net wireless phone subscribers in the quarter, compared with estimates of 268,800, according to research firm FactSet. The company has been investing heavily in its 5G wireless network and bundling free streaming service for HBO Max with certain phone plans to attract customers. HBO and HBO Max had 44.2 million U.S. subscribers at the end of the quarter, AT&T said. Separately, rival Verizon Communications Inc (VZ.N) has said it lost more wireless subscribers than expected during the first quarter as it battled intense competition from T-Mobile US Inc (TMUS.O) and AT&T to attract customers.
U.S. pledges to halve its emissions by 2030 in renewed climate fight
The goal, unveiled at the start of a two-day climate summit hosted by Democratic President Joe Biden, comes as the United States seeks to reclaim global leadership in the fight against global warming after former President Donald Trump withdrew the country from international efforts to cut emissions. Biden focused on restoring U.S. climate leadership during his campaign and in the first days of his presidency after Republican Trump, a climate change skeptic, removed the United States from the Paris agreement on global warming. Biden will announce the number at the start of a climate summit on Thursday that will be attended by leaders from the world's biggest emitters, including China. World leaders aim to limit global warming to 1.5 degrees Celsius above pre-industrial levels, a threshold scientists say can prevent the worst impacts of climate change. "When we close this summit on Friday, we will unmistakably communicate ... the U.S. is back," he said.
Quetta Bombing Highlights Global Risks to China
It will provide China with access to the Bay of Bengal and, in strategic terms, is possibly the most important single project of the BRI. But the bombing spotlights the harsh reality of a grand global engineering project across some of the world’s most restive territory. “Baloch separatists have publicly declared many times that Chinese workers, engineers and firms are one of their immediate targets. It may not be just Baloch separatists who want to target Chinese interests. “The violence will go up and, of course, the Chinese will be one of the targets.”Write to Charlie Campbell at charlie.campbell@time.com.
Biden aims for sweeping climate goal — with or without Congress
“That is, I guess we could say, the $2 trillion question,” said Dan Lashof, director of think tank the World Resources Institute. Administration officials told reporters in a Wednesday briefing that they saw multiple pathways to achieving the climate goal outside of the infrastructure package as currently crafted. “The trend towards the utilization of clean energy technology around the world is both steep and secular,” Zaidi said. That could be in the form of legally mandated emissions targets, a clean energy standard that requires adoption of green energy, or direct spending to eliminate carbon pollution. “Yes, the Biden administration can be successful in setting the U.S. on a path to achieving its ambitious goal without Congress,” Goldfuss said.
Biden will commit to cutting U.S. emissions in half by 2030 as part of Paris climate pact
The U.S. will aim to cut greenhouse gas emissions in half by 2030 as part of its new commitment to the Paris climate agreement, President Joe Biden will announce Thursday. Biden will make the pledge, called the Nationally Determined Contribution, when he speaks at a two-day virtual climate summit attended by dozens of world leaders Thursday morning, the White House said. Biden rejoined the 2015 climate pact in February, reversing a decision by President Donald Trump to withdraw the U.S. from the global coalition to curb carbon emissions. The administration has been under immense pressure from environmental groups and climate scientists to commit to an emissions cut of at least 50 percent, compared to 2005 levels. Biden and Vice President Kamala Harris are set to open the climate summit Thursday, with Secretary of State Antony Blinken and Kerry also participating.
LSI: Fiscal Q3 Earnings Snapshot
CINCINNATI (AP) _ LSI Industries Inc. (LYTS) on Thursday reported fiscal third-quarter net income of $1.5 million. The Cincinnati-based company said it had net income of 5 cents per share. Earnings, adjusted for stock option expense and pretax expenses, came to 7 cents per share. LSI shares have increased almost 3% since the beginning of the year. Access a Zacks stock report on LYTS at https://www.zacks.com/ap/LYTS
Capital Bancorp: Q1 Earnings Snapshot
(AP) _ Capital Bancorp, Inc. (CBNK) on Thursday reported first-quarter earnings of $9 million. The bank, based in Rockville, Maryland, said it had earnings of 65 cents per share. Its revenue net of interest expense was $38.4 million, missing Street forecasts. Capital Bancorp shares have risen 52% since the beginning of the year. Access a Zacks stock report on CBNK at https://www.zacks.com/ap/CBNK
D.R. Horton: Fiscal Q2 Earnings Snapshot
Horton Inc. (DHI) on Thursday reported fiscal second-quarter profit of $929.5 million. The average estimate of 20 analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share. Horton shares have risen 35% since the beginning of the year, while the S&P’s 500 index has climbed 11%. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DHI at https://www.zacks.com/ap/DHI
With Europe’s economy lagging, ECB to keep stimulus running
Consumer inflation is expected to temporarily climb above 2% annually in the later part of the year. Output is not expected to reach pre-pandemic levels until mid-2022, lagging well behind other major pillars of the global economy such as the US and China. One ECB board member, Klaas Knot from the Netherlands, has suggested the ECB could start scaling back pandemic bond purchases later this year in time to phase them out in March 2022. For now that position appears to be in the minority but could signal friction between stimulus advocates and skeptics when the scheduled end of the bond purchase stimulus draws nearer. The purchases are a way of pumping newly created money into the economy, a step which helps keep borrowing costs low.
Valero Energy: Q1 Earnings Snapshot
SAN ANTONIO (AP) _ Valero Energy Corp. (VLO) on Thursday reported a loss of $704 million in its first quarter. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.91 per share. Valero Energy shares have risen 24% since the beginning of the year, while the S&P’s 500 index has climbed 11%. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLO at https://www.zacks.com/ap/VLO
In Biden climate show, watch for cajoling, conflict, pathos
Then he’ll try to cajole other nations to ratchet up the pollution-cutting promises they made in 2015?s Paris climate agreement. After the United States helped negotiate the last two climate agreements — 1997’s Kyoto Protocol and 2015’s Paris accord — Presidents George W. Bush and Donald Trump backed out. The United States last year became the only country to leave the Paris deal . “The fact that the United States is back is very important.”WHY WATCHADVERTISEMENTHuman-caused climate change is getting worse around the globe. The United Nations is counting on nearly 200 nations to announce tougher emission cut targets before that meeting, which will hash out still lingering issues.
Glitches in the Unemployment Insurance System Threaten Recovery. Here’s a Fix.
The culprit in both cases: design flaws in unemployment insurance that fail to account properly for changes in economic conditions. There is no single unemployment insurance system in the U.S. When EB turned off in Alabama, roughly 30% of all workers receiving some form of unemployment insurance were on EB. The biggest problem with the unemployment insurance system is that it fails to provide sufficient support during economic downturns. But the temporary Federal Pandemic Unemployment Compensation, or FPUC, payments added onto unemployment insurance may also discourage some workers from accepting jobs, thereby holding back the recovery.
Charles Schwab Stock Is Tailor-Made for Volatile Times
The faith that stock prices will perpetually advance after a plunge is so widespread that a specialized language has developed. Even if a day of reckoning arrives, online brokerage firms, including Charles Schwab (ticker: SCHW) and Interactive Brokers Group (IBKR), will probably benefit. The market volatility even attracted more investors—rather than scaring them away. A Schwab survey found that 15% of all current U.S. stock investors first began trading in 2020. Yet Schwab stock has weakened a bit since the earnings report.
Summer Travel Season Is on the Horizon. Expect Oil Prices to Rise.
Oil prices have climbed more than 25% this year, as production was restrained and a rise in consumption is expected for the summer travel season. It had been holding back around eight million barrels a day of output, one million of which represented Saudi Arabia’s voluntary cut. The International Energy Agency sees a demand increase of 5.7 million barrels a day to 96.7 million barrels a day this year. Problems with the Covid vaccine rollout could weigh on the recovery for the economy and oil demand, says Karpf. For now, the market expects a gradual climb in supply and increased demand during the summer travel season, says Mayor.
Danaher 1Q profit rises on anti-COVID-19 efforts
Danaher Corp. Thursday logged year-over-year profit and revenue growth in the latest quarter, as the company's contributions to anti-Covid-19 efforts contributed to its results. The Washington, D.C.-based medical company reported net earnings of $2.29 a share, up from 81 cents a share in last year's first quarter. The company's total net earnings were $1.7 billion, compared with $595 million a year earlier.
Alaska Air's stock climbs after narrower-than-expected loss, with cash flow turning positive in March
Shares of Alaska Air Group Inc. ALK, +2.88% rallied 1.3% in premarket trading Thursday, after the air carrier reported a narrower-than-expected first-quarter loss and revenue and load factor that topped forecasts, and said cash flow turned positive in March. The net loss narrowed to $131 million, or $1.05 a share, from $232 million, or $1.89 a share, in the year-ago period. Excluding nonrecurring items, CARES payroll support and mark-to-market fuel hedge accounting adjustments, the adjusted per-share loss was $3.51, beating the FactSet loss consensus of $3.63. Total revenue fell 51% to $797 million but was above the FactSet consensus of $786.4 million. Load factor fell to 51.9% from 69.6%, but topped expectations of 48.6%, as traffic was down 49.4% while capacity declined 32.1%.
More consumers have been looking to spend money at Black-owned businesses — ‘People are rallying around small business’
Since that time, data suggests consumers have increasingly put their money where their mouth is, by spending more at Black-owned businesses and restaurants. The surging interest is certainly welcome, but the pandemic has dug a deep hole for Black-owned businesses and other minority-owned businesses. The number of active Black-owned businesses fell 41% from February 2020 to April 2020, according to one study looking at the pandemic’s initial shockwave. 92% of Black-owned businesses said they were experiencing financial strain, which was up from 85% in 2019. See also: 5 ways to support black-owned businesses: ‘It’s not rocket science — people just choose not to do it’
Soy and Corn Extend Rally on Weather Worries, Strong Demand
(Bloomberg) --Corn extended gains above $6 a bushel and soy topped $15, setting fresh mulityear highs, as China’s rampant demand and adverse weather threaten to further tighten supply. Wheat has also rallied this month, adding to worries about global food-price inflation as consumers still contend with the coronavirus pandemic. The weather concerns in major growers come amid signs of continued strong demand, particularly in China. Corn futures rose as much as 1.9% to $6.1775 a bushel in Chicago, climbing to the highest since May 2013. Soybeans reached $15.045 a bushel, the highest since 2014, and wheat rose to a two-month high.
Credit Suisse executives grilled on Archegos losses. Here’s what they said.
Credit Suisse says it has already given back $4.8 billion to investors, and according to Gottstein has “good visibility” on about three-quarters of the book, and has “very strong legal positions” with respect to the remaining 23%. He said that reduction accounts for roughly a third of the total leverage employed at the prime business. Mathers also took umbrage at the idea Credit Suisse did a worse job exiting the Archegos positions than its Wall Street peers. Gottstein commented on what Credit Suisse has already learned, though an internal investigation is continuing. Credit Suisse shares dropped 5% on Thursday, and have dropped 29% since first announcing losses tied to its lending to Archegos.
Stock futures struggle for direction ahead of jobless claims data
Stock-index futures hovered on either side of unchanged Thursday morning as investors dug through a heavy round of corporate earnings and awaited the latest round of weekly data on jobless claims. On Wednesday, stocks ended higher after back-to-back declines, with the Dow DJIA, +0.93% rising 316.01 points, or 0.9%. The S&P 500 SPX, +0.93% gained 0.9%, while the tech-heavy Nasdaq Composite COMP, +1.19% jumped 1.1%. “It is only natural to expect markets to take a breather after posting a string of record highs earlier in the month. First-time claims are expected to rise to 603,000 in the week ended April 17, up from 576,000 a week earlier.
Allegion profit, revenue rise, top views
Allegion PLC said Thursday that its first-quarter profit rose alongside revenue. The Dublin-based security-products company posted earnings of $108 million in the quarter, compared with $400,000 in the same period a year earlier. Earnings per share were $1.18, compared with EPS of $0.00 a year ago. Excluding items, U.S.-listed Allegion reported adjusted profit of $1.20 a share, compared with $1.04 a share a year earlier and analysts' forecasts of $1.02 a share. Revenue rose to $694.3 million from $674.7 million.
Dow's stock rises after profit and sales beats, as prices increased across all businesses
Net income increased to $1.01 billion, or $1.32 a share, from $258 million, or 32 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.36 from 59 cents, beating the FactSet consensus of $1.14. Sales grew 21.6% to $11.88 billion, above the FactSet consensus of $11.09 billion. Local price increased 19% from a year ago. The stock has rallied 16.8% year to date through Wednesday, while the Dow Jones Industrial Average DJIA, +0.93% has advanced 11.5%.
Credit Suisse taps shareholders for cash as regulator investigates Archegos losses
Swiss financial regulator Finma also said on Thursday that it had “opened enforcement proceedings” against the bank and will notably investigate “possible shortcomings in risk management” in the two financial scandals. The bank said it had sold 203 million mandatory convertible notes to “a selected group of core shareholders” and institutional investors to shore up its capital base. Credit Suisse CS, +0.87% shares fell 6% on Thursday. The price is now down 34% since early March, just before the revelation of the bank’s Greensill exposure. Read: Credit Suisse executives grilled on Archegos losses.
Google's Live Caption feature comes to Chromebooks
The timing of the blowup could hardly have been worse, coming just weeks after Credit Suisse found itself at the center of the Greensill Capital scandal, when it was forced to suspend investment funds. The bank increased its assets weighted according to risk for both Archegos and Greensill.The Greensill debacle is also far from over. Credit Suisse has so far returned about half the $10 billion in investor money held by the funds at the time of their suspension. While the bank marketed the funds as among the safest investments it offered, investors are left facing the prospect of steep losses as the assets are liquidated. “There are three more distinct positions which we will work through in the next months and quarters.
High expectations can mean big letdowns: Morning Brief
SubscribeWednesday, April 22, 2021Netflix's first quarter disappointment might be one of manyFirst quarter earnings out of Netflix (NFLX) published Tuesday night surprised investors. ET: Dow Inc ( DOW ) is expected to report adjusted earnings of $1.17 per share on revenue of $11.08 billion6:25 a.m. ET: DR Horton ( DHI ) is expected to report adjusted earnings of $2.18 per share on revenue of $6.13 billion6:35 a.m. ET: AT&T ( T ) is expected to report adjusted earnings of 78 cents per share on revenue of $42.66 billion6:45 a.m. ET: Blackstone ( BX ) is expected to report adjusted earnings of 76 cents per share on revenue of $1.81 billion8:00 a.m.
Police and Law Enforcement
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Southwest Airlines Posts Narrower-Than-Expected First-Quarter Loss
Southwest Airlines posts a narrower-than-expected adjusted first-quarter loss as air travel continues to recover amid vaccinations and the reopening of the economy. Southwest Airlines (LUV) - Get Report on Thursday posted a narrower-than-expected adjusted loss for the first quarter as air travel continued to recover amid ongoing vaccinations and the reopening of the U.S. economy. The Atlanta-based airline reported an adjusted loss of $1.72 a share. First-quarter operating revenue was $2.05 billion, above the $2.1 billion expected by Wall Street analysts. For May, Southwest said it expects operating revenue to be down 35% to 40% from 2019 levels, even as passenger traffic and fares continue to show improvement.
Danaher Beats Earnings Forecast, Issues Fresh 2021 Sales Guidance
Danaher said it expects full-year sales to grow in the "high-teens percentage range" after a stronger-than-expected first quarter. Danaher Corp (DHR) - Get Report posted much stronger-than-expected first quarter earnings Thursday, while issuing fresh 2021 guidance, as it continues to benefit from last year's $21.4 billion deal for GE Biopharma. Group revenues, Danaher said, surged 58% to $6.9 billion, again besting analysts' estimates of a $6.26 billion tally. "This broad-based outperformance was driven by double-digit core revenue growth in our base business, and our ongoing contributions to the development and production of COVID-19 vaccines, therapeutics and diagnostic tests." "Our record top-line performance contributed to strong earnings per share growth and cash flow generation and, we believe, continued market share gains in many of our businesses," he added.
Dow Futures Lower as COVID Gains Pace in Asia; Jobless Claims in Focus
Global stocks test fresh all-time highs despite record COVID cases in India, reported state of emergency orders in Tokyo and the slowing pace of vaccinations in the United States. The Thursday Market MinuteGlobal stocks grin higher as corporate earnings gains offset ongoing concerns over the increase in COVID infections, particularly in Asia. European earnings continue to impress, with Nestle, SAP and Renault boosting regional market gains ahead of the ECB's April interest rate decision at 7:45 am Eastern time. Benchmark 10-year note yields ease to 1.555% in overnight trading following a solid 20-year auction Wednesday and a steady U.S. dollar. U.S. equity futures suggest a modestly lower open on Wall Street ahead of earnings from AT&T, Danaher and DR Horton as well as weekly jobless claims at 8:30 am Eastern time.
Missing Indonesian submarine may be too deep to rescue
Indonesian naval ships Thursday were intensely searching for a submarine that likely sank too deep to retrieve, making chances of survival slim for the 53 people on board. Frank Owen, secretary of the Submarine Institute of Australia, also said the submarine could be at too great a depth for a rescue team to operate. “Most rescue systems are really only rated to about 600 meters,” or 1,969 feet, he said. He said a rescue submarine would make a waterproof connection to a disabled submarine with a so-called skirt fitted over the rescue seat so that the hatch can be opened without the disabled submarine filling with water. Rescue ships from Singapore and Malaysia are expected to arrive between Saturday and Monday.
Don't Let the Rally Fool You
Even in the reopening stocks, the banks had stalled, energy had stalled, industrials had stalled. Solar and electric vehicle stocks rallied. Pot stocks rallied. Nasdaq saw 89% on the upside. The number of stocks making new highs -- keep in mind the indexes are at their highs -- was 101 for Nasdaq, which is pathetic.
AT&T Beats Earnings Forecast as HBO Max, Wireless Additions Impress
AT&T adds nearly 600,000 wireless subscribers, along with 2.7 million new additions to its HBO Max streaming service, helping boost its bottom line past Wall Street forecasts. AT&T Inc (T) - Get Report posted stronger-than-expected first quarter earnings Thursday as its HBO Max streaming service added more subscribers and wireless additions more than doubled Wall Street forecasts. AT&T said it added 2.7 million U.S. subscribers to its HBO Max streaming service, taking the quarter-end total to 44.2 million -- and 64 million worldwide -- as it continues to challenge its larger rival Netflix (NFLX) - Get Report for new additions. “We continued to excel in growing customer relationships in our market focus areas of mobility, fiber and HBO Max,” said CEO John Stankey. "HBO Max continued to deliver strong subscriber and revenue growth in advance of our international and AVOD launches planned for June,” he added.
Word Game: Aprl 22, 2021
TODAY’S WORD — AUGMENT (AUGMENT: awg-MENT: To make something greater, as in size or extent.) Average mark 21 wordsTime limit 35 minutesCan you find 29 or more words in AUGMENT? YESTERDAY’S WORD — LOUVERS lore lose loser louse love lover lues lure ours overuser velour verso vole euro role rose roue rouse rove rule ruse sloe slue slur sole solvesolver sore soul sour suer sureTo purchase the Word Game book, visit WordGameBooks.com. For example, if “bake” is used, “baked” or “bakes” are not allowed, but “bake” and “baking” are admissible. Contact Word Game creator Kathleen Saxe at kzsaxe@gmail.com.
At this gym, ‘There’s no such thing as an autism-specific exercise’
Advertisement“There’s no such thing as an autism-specific exercise,” Austin said. Inclusive Fitness opened during the pandemic, following all state social-distancing requirements; the couple just didn’t want to wait any longer. Inclusive Fitness is collaborating with local organizations and agencies to create opportunities to share costs and increase access. Inclusive Fitness tentatively plans to open a second site next year, likely in Metro West, and another on the North Shore. But even if Inclusive Fitness never expands beyond West Roxbury, Greg and Kristina Austin are already winners in my book.
Here are the EVs coming down the pike
Prices start at $99,900 and top out at $139,900 for the RS E-Tron GT. Prices start around $85,000. Prices start at $79,995. Prices start at $39,995. Recharging to 80% takes 40 minutes using a DC fast charger, and prices start at less than $50,000.
Ask a real estate pro: Is there an obligation to tell buyers about nearby cell phone tower?
Q: We bought a condo last year and recently discovered that a shopping plaza that borders our neighborhood has a large cell phone tower disguised as a clock tower. Is the seller or real estate agent obligated to disclose information about cell phone towers within a certain radius to the buyer when purchasing?
In Biden climate show, watch for cajoling, conflict, pathos
Years ago, the developed world committed to $100 billion in public and private financial help, much of which hasn’t been paid. The U.S. promised $3 billion in aid in Paris but paid only the first $1 billion. “The U.S. is way behind on its commitment because of those four Trump years,” Figueres said. WHOM TO WATCHThis is Biden’s show, and he will kick it off, formally announcing the 50% to 52% emissions cut. He’ll be followed by the leaders of the world’s biggest economies, which spew 80% of the greenhouse gases.
UK food bank use rises by a third during COVID-19 pandemic
LONDON (AP) — U.K. food bank rose use by a third during the past 12 months as the COVID-19 pandemic left more people without the money to buy basic necessities, a charity that distributes food said Thursday. The Trussell Trust said the food banks it works with handed out more than 2.5 million food parcels in the year through March, up from 1.9 million a year earlier. The figures represent only a partial picture of the increasing need because independent food aid providers also expanded during the pandemic, the trust said. The trust called on the British government to do more to help people struggling to make a living and not to rely on food banks to fill gaps in the country's welfare system. “No one should face the indignity of needing emergency food,’ said Emma Revie, the trust’s chief executive.
Grim list of deaths at police hands grows even after verdict
The verdict in the Chauvin case might not be quickly repeated, even as the list of those killed at the hands of police grows. The day after Bryant was fatally shot, at least two other people were also killed by police in the United States. On Wednesday morning, a deputy fatally shot and killed a Black man while serving a search warrant in eastern North Carolina. And in the San Diego suburb of Escondido, police said an officer fatally shot a man who was apparently striking cars with a metal pole. The boy, who was Latino, appeared to drop a handgun moments before the officer shot him.
Schapiro: Making dollars and sense of a wealthy donor's agenda
They see nothing contradictory in operating by rules that, they say, have corrupted politics but somehow can uncorrupt it. Their logic: Our big money is good because it protects people. The utilities’ big money is bad because it protects profits. Magnifying wariness over the Bills-Smith-Clean Virginia money machine is the source of its lucre, the Bills-led hedge fund, Bluestem Asset Management. Hedge funds are complex schemes that, while regulated by the federal government, can be opaque, providing little information to the public on their investments.
Richmond housing authority to pursue federal grant for Gilpin Court overhaul
With one public housing redevelopment ramping up in the East End, the Richmond Redevelopment and Housing Authority wants to lay the groundwork for another one. The housing authority’s board of commissioners on Wednesday unanimously endorsed the agency’s pursuit of a competitive federal grant that would jumpstart an overhaul of its oldest and largest public housing community: Gilpin Court. Housing authorities around the country vie for the grants, called Choice Neighborhood Planning grants, to pay for planning that’s a precursor to redeveloping public housing neighborhoods. Receiving one of the planning grants also positions a project to compete for the more coveted implementation grants, which can infuse a project with $30 million. Of the 89 recipients that have received one of the planning grants since 2013, about one in four have gone on to secure an implementation grant, according to the U.S. Department of Housing and Urban Development.
U.S. Home Sales Are Surging. When Does the Music Stop?
“I think it’s what’s on everybody’s mind,” said Jonathan J. Miller, a New York appraiser who analyzes markets nationwide. Today’s supercharged market has been caused by pandemic forces that have challenged other assumptions about the market. From 2018 to the end of 2019, Manhattan saw a roughly 15 percent drop in sale prices, Mr. Miller said. First-time buyers made up 41.9 percent of sales in Manhattan last quarter, the highest share in at least seven years, Mr. Miller said. “The easy answer was: the city is down, the suburbs are up,” said Mr. Miller.
How to report text and email scams
In reality, they’ve been connected to a criminal who can now use their personal details to commit fraud. “Even confirming personal details, such as your email address, date of birth or mother’s maiden name, can be used by criminals to commit fraud. Netflix says that it will never ask you to enter personal information in a text or email. TV Licensing say that in emails, it will include your name and part of your postcode, compared with scam emails which often just use your email address or “Dear customer”. If you think you’ve been a victim of a TV license scam, contact Action Fraud or email the government’s fraud service at report@phishing.gov.uk.
Dollar edges down below ¥108 in Tokyo
The dollar inched down to levels below ¥108 in lackluster Tokyo trading Thursday. At 5 p.m., the dollar stood at ¥107.90, down from ¥108.22 at the same time Wednesday. Following a moderate rise on the 225-issue Nikkei average’s sharp upturn, the dollar fell back past the ¥108 line in line with a drop in U.S. long-term interest rates. But the U.S. currency, again, sank into ¥107 terrain in late trading joined by European players. The dollar is believed to have been affected by stepped-up position-squaring activities involving European currencies ahead of a European Central Bank policy meeting later the same day, traders said.
Earth Day 2021 latest live: Joe Biden announcing major new climate target with Xi, Johnson and Putin also to speak
BreakingEarth Day 2021 latest live: Joe Biden announcing major new climate target with Xi, Johnson and Putin also to speakJoe Biden marks Earth Day by hosting a two-day virtual climate summit to announce new carbon emission targets; HSBC HQ in London attacked; Elon Musk trolled.
TEPCO may appoint ex-business lobby chief Yoshimitsu Kobayashi as chairman
Tokyo Electric Power Company Holdings Inc. (Tepco) is considering tapping Yoshimitsu Kobayashi, who headed a major business lobby, to become the utility’s chairman as it continues with decommissioning the damaged Fukushima nuclear plant, sources familiar with the matter said Thursday. Tepco is said to be making final arrangements with the government to name Kobayashi, former head of the Japan Association of Corporate Executives and now chairman of Mitsubishi Chemical Holdings Corp., to the post, according to the sources. Since the nuclear disaster, which was triggered by a massive earthquake and tsunami in 2011, Tepco has picked chairman candidates from outside the company to oversee management reforms and tackle efforts toward decommissioning the nuclear plant. Former Chairman Takashi Kawamura, who had headed infrastructure conglomerate Hitachi Ltd., left the Tepco post in June last year and the seat has been vacant since. Kobayashi, 74, served as chairman of the business lobby, known as Keizai Doyukai, between 2015 and 2019.
France worried about Chad's stability after Deby's death
France worried about Chad's stability after Deby's deathThe French government is concerned for Chad's political stability after the sudden death of its longtime ruler, but does not believe its new leaders will disengage from the Sahel's anti-jihadist fight, Foreign Minister Jean-Yves Le Drian said Thursday.
US climate summit: Biden aims to cement credibility after Trump's years
US climate summit: Biden aims to cement credibility after Trump's yearsPresident Joe Biden will open a global climate summit with a pledge to cut at least in half the climate-wrecking coal and petroleum fumes that the US pumps out, a commitment he hopes will spur China and other big polluters to speed up efforts of their own. FRANCE 24's Environment Editor Mairead Dundas tells us more.
Taiwan vows to defend itself after Yoshihide Suga qualifies Japan’s stance
Fighter jets at a military base in Taiwan, which said safeguarding itself was its own responsibility. Photo: EPA-EFE
Biden to cut US carbon emissions by half of 2005 levels by 2030
The United States will aim for a 50 per cent reduction of it’s 2005 greenhouse emissions by 2030, in a target due to be announced by Joe Biden on Thursday. Mr Biden’s target will aim to reduce emissions by 50-52 per cent of 2005 levels by 2030 — a cut of more than half, that will have dramatic ramifications for US industry and life. There are going to be multiple pathways to get there," one official told Reuters of the 2030 emissions target. Importantly, members of Congress will need to approve both the infrastructure plan and the 2030 emissions target for the president’s aims to bear fruit. "When we close this summit on Friday, we will unmistakably communicate ... the US is back," said the White House official.
Ireland will resist global corporate tax rate, says finance minister
Ireland’s finance minister has signalled the country will resist attempts to rebalance the global tax system if they affect Dublin’s ability to undercut its rivals. Under new tax proposals led by the US, Ireland could lose 20% of its tax revenues, according to Paschal Donohoe. The global tax system has failed to adapt to the rise of digital services across borders in recent decades, and critics argue that the lack of harmonised rules has triggered a “race to the bottom” on global tax. Speaking at a virtual summit convened in Dublin, Donohoe said the country would seek to retain its current tax rate. Its headline corporate tax rate is 12.5%.
Signal hacked Cellebrite's phone hacking software used by law enforcement
After the cellphone hacking company Cellebrite said it had figured out a way to access the secure messaging app Signal, Signal said in a blog post that it has turned the tables. He then implied that Signal will update the app to stymie any law enforcement attempts to hack it. Marlinspike managed to obtain a Cellebrite UFED, complete with the software and hardware dongle, joking that it fell off a truck while he was out for a walk. Marlinspike then implied that it might install such code within Signal to foil future Cellebrite extraction attempts by law enforcement. Signal released details about the supposed Cellebrite vulnerabilities without giving the company any warning, but said it would change tack if Cellebrite reciprocated.
‘Stop fossil fuel expansion’: Nobel laureates urge climate action
Nobel laureates urge world leaders to invest in a plan that could allow economies to diversify away from oil, coal and gas. More than 100 Nobel laureates, including the Dalai Lama, have signed a letter calling on world leaders to take action and tackle the climate crisis while also making a call to “stop fossil fuel expansion”. “The burning of fossil fuels – coal, oil, and gas – is by far the major contributor to climate change. Today 101 Nobel Prize winners called for a phase-out of coal, oil & gas. Next up: this powerful letter from scientists, academics and researchers calling for a Fossil Fuel Non-Proliferation Treaty.
AP Top Stories April 22 A
AP Top Stories April 22 AHere's the latest for Thursday April 22nd: Congress working on policing reform deal; Columbus, Ohio police release 911 call from before Ma'Kiah Bryant shooting; Protests after North Carolina deputy shooting; Coronavirus surge in India.
Most buyers can still afford homes despite record prices
In addition, Realtor.com reported that the number of homes on the market in March was 52 percent lower than in March 2020. AdvertisementStory continues below advertisementMedian listing prices were up 39.8 percent in Austin, up 28.3 percent in Buffalo and up 24.8 percent in Los Angeles compared with March 2020. Median listing prices were up 10.5 percent in the New York City metro area, but up just 1 percent in the D.C. metro area in March compared with the same time last year. During the first quarter of 2020, homes were more affordable than historic averages in 63 percent of counties. Five years ago, during the first quarter of 2016, homes were more affordable than the historic average in 95 counties.
The world cannot depend on 'one or two countries' for chips, says SEMI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe world cannot depend on 'one or two countries' for chips, says SEMIAjit Manocha of SEMI says there's "global interdependence" in the semiconductor industry, with a chip traveling about 25,000 miles before being ready for shipping to customers.
SAP says new cloud package a hit, confirms outlook
Software group SAP said on Thursday its new all-in cloud package was proving to be a hit with its customers, as it confirmed its first-quarter results and recently raised guidance. SAP's new business transformation product, Rise with SAP, was "rapidly becoming a massive accelerator." SAP confirmed its guidance after earlier this month nudging up expectations for cloud and software revenue to 23.4-23.8 billion euros ($28.15-$28.64 billion) this year, representing a rise of 1%-2% year on year. Klein said SAP had "an absolute blowout in the cloud" in the first quarter, with the Rise initiative driving a 19% increase in its current cloud backlog — a management measure of incoming business — at constant currencies. After stripping out the effect of that, adjusted operating profit rose by 24% to 1.74 billion euros at constant currency.
Renault posts lower first-quarter sales on global chip shortage
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenault posts lower first-quarter sales on global chip shortageCNBC's Charlotte Reed reports on lower sales at Renault for the fifth consecutive quarter amid a global chip conductor shortage, as the French carmaker undergoes a transformation of its business model.
ECB's monetary policy support into next year 'is justified,' says UBS economist
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's monetary policy support into next year 'is justified,' says UBS economistReinhard Cluse, chief European economist at UBS, previews the ECB's likely monetary policy outcomes from its announcement Thursday.
Goldman downgrades Fisker, Lordstown as electric vehicle competition heats up
The Lordstown Motors factory is where GM once operated, in Lordstown, Ohio, on October 16, 2020. Goldman Sachs downgraded a pair of early stage electric vehicle companies on Thursday, citing concerns about what an increasingly competitive space will look like once those two companies are ready to fully enter the market. The firm moved its rating on Fisker to sell from neutral and dropped Lordstown Motors to neutral from buy and slashed its price target for both even as it said in a note that it remains "very constructive" on the electric vehicle space overall.
Ad group WPP targets net zero emissions by 2025
Branding signage for WPP, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. REUTERS/Toby MelvilleWPP (WPP.L)said on Thursday it planned to make the world's largest advertising company reach net zero carbon emissions by 2025 by incorporating many of the virtual production solutions it has developed during the pandemic. "WPP is the world's largest buyer of advertising space, managing more than $60 billion in media spend on behalf of our clients, and the world’s largest producer of advertising content," Chief Executive Mark Read said. WPP, which owns such agencies as GroupM, Ogilvy and Hill+Knowlton, said the pandemic had accelerated innovation in virtual production technology and reduced the need for staff to gather at carbon-intensive location shoots. The group added that it expected carbon data to increasingly become part of the information that is requested when ad firms pitch to run ad campaigns for brands.
Japan's car lobby says it can lead the drive for carbon neutrality
Akio Toyoda, the head of a Japanese lobby group, said on Thursday Japan's auto industry can lead the country's push to achieve carbon neutrality. While carbon neutrality is the final target, there is no sole path in achieving it, Toyoda also said, speaking as chairman of the Japan Automobile Manufacturers Association (JAMA). "What Japan needs to do now is to expand its options for technology. Japan Prime Minister Yoshihide Suga will attend a two-day virtual summit of 40 leaders on climate change starting on Thursday. JAMA, which is headed by Toyota Motor Corp President Toyoda, represents all of Japan's big automakers, including Toyota (7203.T) , Nissan Motor Co (7201.T) and Honda Motor Co. (7267.T).
The First Bancshares: Q1 Earnings Snapshot
(AP) _ The First Bancshares Inc. (FBMS) on Wednesday reported first-quarter profit of $16.6 million. The Hattiesburg, Mississippi-based bank said it had earnings of 79 cents per share. Its revenue net of interest expense was $48.7 million, which fell short of Street forecasts. The First Bancshares shares have risen 22% since the beginning of the year. Access a Zacks stock report on FBMS at https://www.zacks.com/ap/FBMS
TAL Education: Fiscal Q4 Earnings Snapshot
BEIJING (AP) _ TAL Education Group (TAL) on Thursday reported a loss of $169 million in its fiscal fourth quarter. For the year, the company reported that its loss widened to $116 million, or 19 cents per share. For the current quarter ending in June, TAL Education said it expects revenue in the range of $1.3 billion to $1.32 billion. TAL Education shares have dropped 12% since the beginning of the year. Access a Zacks stock report on TAL at https://www.zacks.com/ap/TAL
SAP: Q1 Earnings Snapshot
WALLDORF, Germany (AP) _ SAP SE (SAP) on Thursday reported first-quarter net income of $1.25 billion. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share. SAP shares have climbed roughly 9% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAP at https://www.zacks.com/ap/SAP
Heritage Financial: Q1 Earnings Snapshot
OLYMPIA, Wash. (AP) _ Heritage Financial Corp. (HFWA) on Thursday reported first-quarter net income of $25.3 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share. Heritage Financial shares have risen 17% since the beginning of the year. _____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HFWA at https://www.zacks.com/ap/HFWA
UK food bank use rises by a third during COVID-19 pandemic
LONDON (AP) — U.K. food bank rose by a third during the past 12 months as the COVID-19 pandemic left more people without the money to buy basic necessities, a charity that distributes food said Thursday. The Trussell Trust said the food banks it works with handed out more than 2.5 million food parcels in the year through March, up from 1.9 million a year earlier. The figures represent only a partial picture of the increasing need because independent food aid providers also expanded during the pandemic, the trust said. “No one should face the indignity of needing emergency food,” Emma Revie, the trust’s chief executive, said. “Yet our network of food banks has given out record numbers of food parcels as more and more people struggle without enough money for the essentials.’’ADVERTISEMENTThe British economy suffered one of the deepest and most protracted recessions in the developed world last year.
European stocks rise as Nestlé leads strong earnings wave; Credit Suisse slumps
European stocks rose on Thursday, buoyed by a solid start to earnings season on both sides of the Atlantic, with the European Central Bank expected to keep policy intact. The Stoxx Europe 600 SXXP, +0.57% rose 0.4% to 438.69, as the index closed in on the record 442.49 reached last week. In March, the ECB said it would accelerate its bond purchases within its existing €1.85 trillion program, and while it hasn’t really done so, euro-area bond yields have stabilized. U.S. stock futures ES00, -0.09% NQ00, -0.04% were steady, following Wednesday’s low-volume march to the second-highest level SPX, +0.93% in history. Nestlé NESN, +3.48% shares rose 3%, as the Swiss food giant said first-quarter organic sales rose a stronger-than-expected 8%.
Mining Stocks Signal Better Days for Gold
Even more than the metal, shares of gold miners have rebounded and gained relative strength versus the broad stock market. Gold mining stocks tend to be a leading indicator for bullion given their earnings leverage relative to the metal’s moves. The better relative performance of gold mining shares such as Barrick Gold (ticker: GOLD) is another positive for the metal. But the mining shares also can provide dividend income. In any case, cheap and abundant money again is lifting gold and mining shares even as cryptocurrencies sputter for now.
European stocks rise as Nestlé leads strong earnings wave; Credit Suisse slumps
European stocks rose on Thursday, buoyed by a solid start to earnings season on both sides of the Atlantic, with the European Central Bank expected to keep policy intact. The Stoxx Europe 600 SXXP, +0.57% rose 0.4% to 438.69, as the index closed in on the record 442.49 reached last week. In March, the ECB said it would accelerate its bond purchases within its existing €1.85 trillion program, and while it hasn’t really done so, euro-area bond yields have stabilized. U.S. stock futures ES00, -0.09% NQ00, -0.04% were steady, following Wednesday’s low-volume march to the second-highest level SPX, +0.93% in history. Nestlé NESN, +3.48% shares rose 3%, as the Swiss food giant said first-quarter organic sales rose a stronger-than-expected 8%.
A new breed of credit cards is easier to get, even in hard times
In 2020, young companies like Gro