Announcement

DC5n United States financial in english 102 articles, created at 2021-07-20 07:03 articles set mostly positive rate 3.7
(11.99/12)  1 
0.4
Jim Cramer says the stock market will bottom after speculators find the exit

"Once the speculators are blown out … and the stocks that are already down huge start rallying, then we can find a tradeable bottom," the "Mad Money" host said. 2021-07-19 22:36 3KB www.cnbc.com

(11.99/12)  2 
0.7
Ticker: Robinhood sees valuation of up to $35 billion as public co.

Robinhood, the online brokerage that found itself embroiled in this year's meme stock phenomenon, will go public next week seeking a market valuation of up to $35 billion. 2021-07-19 22:33 2KB www.bostonherald.com

(10.99/12)  3 
0.7
Stock Market Sell-Off: Dow Plunges 700 Points In Worst Drop Since October As Delta Variant Fears Mount

One expert predicts the delta variant could ultimately push the S&P 500 down about 5%. 2021-07-19 20:01 3KB www.forbes.com

(10.99/12)  4 
0.8
Stocks drop on fears COVID variants threaten economy's recovery

Dow drops around 600 points as new variants of the coronavirus threaten to weaken economies around the world. 2021-07-19 14:16 4KB www.cbsnews.com

(8.62/12)  5 
0.5
Five9 spikes as Zoom announces massive $14.7 billion deal to acquire cloud-based call center operator

Shares of Five9 jumped as much as 15% on Monday on a deal by Zoom Video Communications to buy the cloud-based call center software … 2021-07-19 13:26 2KB markets.businessinsider.com

(6.43/12)  6 
0.4
Bill Ackman Calls Off SPAC Deal for Universal Music Group

Billionaire investor Bill Ackman will not use his SPAC to acquire 10% stake of Universal Music Group, but will purchase the shares directly. 2021-07-19 15:38 2KB variety.com

(6.35/12)  7 
0.6
The coronavirus recession only lasted 2 months, the shortest downturn in US history

Good Subscriber Account active since The National Bureau of Economic Research wrote in an announcement on July 19 that the pandemic recession only lasted two … 2021-07-19 21:11 2KB www.businessinsider.com

(5.26/12)  8 
0.2
California launches largest free school lunch program in US

When classrooms in California reopen for the fall term, all 6.2 million public school students will have the option to eat school meals for … 2021-07-19 20:39 6KB nypost.com

(4.50/12)  9 
0.8
Robinhood’s IPO Will Make Billionaire Cofounders Tenev And Bhatt Even Richer

The two billionaires behind stock trading app Robinhood stand to make billions of dollars when the company goes public. And billions more may be to come. 2021-07-19 15:56 5KB www.forbes.com

(4.11/12)  10 
0.1
Biden touts economy, pushes infrastructure bill

President Biden on Monday touted the economy and argued a bipartisan infrastructure deal will provide further help to workers and consumers. “Our economy’s come a … 2021-07-19 16:48 3KB thehill.com

(3.40/12)  11 
0.4
Covid-19 surge sparks bond rally, stocks on worst run in 18 months

Read more about Covid-19 surge sparks bond rally, stocks on worst run in 18 months on Business Standard. The Dow Jones Industrial Average dropped more than 2% mid-morning on Monday, with the S&P 500 falling 1.5%. The Nasdaq Composite fell nearly 1%. 2021-07-19 16:26 4KB www.business-standard.com

(3.10/12)  12 
0.7
The 10 Best Things To Buy At Everlane’s Rare Summer Sale

Want to buy timeless, sustainable clothes and accessories for a low, affordable price? Right now, Everlane is taking up to 60% off its beloved cashmere, jeans, boots and more. 2021-07-19 19:02 4KB www.forbes.com

(2.36/12)  13 
0.1
Why Peloton Stock Is Poised To Recover From The Sell Off

Peloton stock has declined by about 10% over the last week (five trading days), compared to the S&P 500 which was up marginally over the same period. The recent decline comes on the back of downgrades by brokerage analysts, including a long-time Peloton bull, who have cited mounting competition... 2021-07-19 15:00 4KB www.forbes.com

(2.33/12)  14 
0.4
Biden says inflation ‘temporary,’ urges more Americans to get vaccinated against COVID-19

President Biden said Monday that a spike in inflation and consumer prices is temporary but the economy is still riding “ups and downs,” and … 2021-07-19 16:18 2KB www.washingtontimes.com

(2.14/12)  15 
0.4
Will Nordstrom’s Anniversary Sale Boost Earnings?

Nordstrom Inc. is hoping that consumers coming out of the pandemic are finding that they have nothing to wear, and that they shop the retailer's Anniversary Sale.. 2021-07-19 14:07 5KB www.forbes.com

(2.04/12)  16 
0.9
Child Tax Credit: Monthly Payments Already Arriving In Parents’ Bank Accounts

The IRS sent out the first round of advance Child Tax Credit payments on July 15, and the money is already reaching parents. 2021-07-19 19:02 7KB chicago.cbslocal.com

(1.35/12)  17 
0.8
The best deals and sales happening on Amazon right now — save on the Roku Express 4k+ and Razer BlackWidow Keyboard

Good Subscriber Account active since When you buy through our links, Insider may earn an affiliate commission. Learn more. Amazon's … 2021-07-19 19:36 1KB www.businessinsider.com

(1.26/12)  18 
0.1
Invesco QQQ Trust Ranked Among This Week’s Top Buy ETFs

Lower your overall risk by diversifying with this week’s Top Buy ETFs from Q.ai’s deep learning algorithms. 2021-07-19 15:19 6KB www.forbes.com

(1.06/12)  19 
0.2
Joe Biden Loves Competitive Markets, But. .

All can applaud the president's aims, but questions of efficacy and unintended consequences abound. 2021-07-19 13:32 8KB www.forbes.com

(1.04/12)  20 
2.4
EXPLAINER| How African countries with highest Covid-19 death rates are dealing with the pandemic

Military intervention in Tunisia, a fast-filling cemetery in Namibia, a harsh lockdown in Uganda, and campaign rallies in Zambia. 2021-07-19 16:22 5KB www.news24.com

(1.03/12)  21 
0.8
Portillo’s announces plans to go public

Morningstar Equity Analyst Sean Dunlop said there is strong investor demand to buy shares of restaurant chains. 2021-07-19 20:11 2KB chicago.suntimes.com

(1.02/12)  22 
0.1
In Gift to Rich Tax Cheats, Republicans Strip IRS Funds From Bipartisan Infrastructure Bill

"Republicans can always be counted on to help billionaires not pay taxes" 2021-07-19 19:58 4KB www.salon.com

(1.01/12)  23 
0.1
Fundraiser Looks To Help Save The ‘Stargazer’ Sculpture At Gateway To The Hamptons

The giant deer head known as "Stargazer" has fallen into severe disrepair. 2021-07-19 20:14 2KB newyork.cbslocal.com

(1.01/12)  24 
0.1
New Mexico Supreme Court Rules Gas Stations Can Be Liable for Drunk Driving

The decision resolves a question of state law concerning the potential liability of a retailer that sold gasoline to a drunk driver in 2011. 2021-07-19 20:14 3KB www.newsweek.com

(1.01/12)  25 
0.4
Want To Boost Profits By 10%? Modify These 3 Things

Simplifying in key areas of your business can cancel out the cost of complexity. 2021-07-19 20:13 5KB www.forbes.com

(1.01/12)  26 
0.2
What's behind the push for a fourth stimulus check

As the IRS distributes the $1,400 stimulus payments, some lawmakers say the money won't last three months. 2021-07-19 19:38 9KB www.cbsnews.com

(1.01/12)  27 
0.1
Homebuyers aren't seeing savings from falling lumber prices – here's why

Lumber prices are falling sharply, but the savings are not yet trickling down to the retail market. 2021-07-19 16:56 3KB www.cnbc.com

(1.01/12)  28 
0.7
The 5 biggest insider stock buys of last week

Insider is watching which corporate executives are making big bets on their own companies. Here are the five companies that saw the biggest combined stock … 2021-07-19 16:49 3KB markets.businessinsider.com

(1.01/12)  29 
0.3
I Bonds: Buy I For Inflation

Rising inflation has been cause for concern after the most recent June consumer price index reading increased 5.4% from a year earlier. 2021-07-19 15:32 5KB www.forbes.com

(1.01/12)  30 
0.6
The best sales to shop today: Apple, Cricut, Casper and more

Today, you'll find a deal on our pick for best humidifier for large spaces, a discount on AirPods Pro and savings on Anker charging accessories. All that and more below. 2021-07-19 14:56 11KB us.cnn.com

(0.99/12)  31 
0.7
TRENDING ON TOWNHALL MEDIA

Fall guy? 2021-07-19 07:57 3KB hotair.com

(0.25/12)  32 
0.0
Investor Confidence In The UK Takes A Knock - ValueWalk

Investor confidence in the UK falls by 5 percent in July. 65 percent of investors believe interest rates will rise in a year’s time 2021-07-19 19:45 4KB www.valuewalk.com

(0.21/12)  33 
0.4
Premium valuations for specialty chemicals to sustain on multiple tailwinds

Read more about Premium valuations for specialty chemicals to sustain on multiple tailwinds on Business Standard. Near-term upsides however are limited given the spurt in stock prices 2021-07-19 14:28 2KB www.business-standard.com

(0.07/12)  34 
0.6
With prices of used vehicles soaring, now is the best time to sell your car — if you have one you don't need

Good Subscriber Account active since The used-vehicle market is unusually hot this summer, and it's spelling profits for some car owners. Prices for … 2021-07-19 18:48 4KB www.businessinsider.com

(0.07/12)  35 
0.1
What to know about speculation: When investors buy high-risk assets with the expectation of significant returns

Good Subscriber Account active since The bulk of investing advice, especially for those interested in retirement centers, are around slow and consistent gains over decades. … 2021-07-19 16:19 6KB www.businessinsider.com

(0.06/12)  36 
0.4
This Nespresso VertuoPlus coffee maker is better than a Keurig—and it's on sale right now

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission.  If you’re serious about your … 2021-07-19 21:54 3KB www.usatoday.com

(0.06/12)  37 
0.5
Steady Earnings Growth Could Drive Paycom Software Stock To $470

After a more than 2x jump from its low in March 2020, at the current price of $370 per share, we believe Paycom Software Inc. stock has further upside potential. Paycom stock has risen from $160 in March 2020 to $370 currently, more than the S&P which increased by around 95% from its lows... 2021-07-19 09:00 3KB www.forbes.com

(0.04/12)  38 
0.2
Oil sinks to 7-week low as OPEC+ deal to increase supply arrives as Delta variant cases surge

Oil prices tumbled by nearly 7% on Monday after major producers moved to supply more oil to the global market, with the agreement arriving as … 2021-07-19 16:27 2KB markets.businessinsider.com

(0.03/12)  39 
0.9
Will Humana Stock Continue Its Rally After A 10% Rise In A Month?

The stock price of Humana (NYSE: HUM) has seen a 10% rise over the last twenty-one trading days, while it is up 18% over the last year. Humana has benefited from higher Medicare Advantage premium income as well as increased healthcare services revenues. The company has seen a strong 29% growth... 2021-07-19 13:00 2KB www.forbes.com

(0.02/12)  40 
0.2
Sebi proposes swing pricing in open-ended debt schemes to protect investors

Read more about Sebi proposes swing pricing in open-ended debt schemes to protect investors on Business Standard. Swing pricing refers to the process of adjusting a fund's NAV to effectively pass on transaction costs stemming from either inflows or outflows from the schemes 2021-07-19 13:53 4KB www.business-standard.com

(0.02/12)  41 
0.3
5 Stock Option Mistakes To Avoid When Your Company Goes Public

When you have stock options, there's a lot to consider before and after an IPO. Here are the top five mistakes employees of private companies make when their employer goes public. 2021-07-19 11:40 5KB www.forbes.com

(0.02/12)  42 
0.4
Financials shares fall

Read more about Financials shares fall on Business Standard. Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 142.45 points or 1.79% at 7830.21 at 13:50 IST. 2021-07-19 08:30 2KB www.business-standard.com

(0.02/12)  43 
1.0
Power Finance Corporation Ltd in demand

Read more about Power Finance Corporation Ltd in demand on Business Standard. Power Finance Corporation Ltd is quoting at Rs 129.3, up 1.37% on the day as on 12:54 IST on the NSE. The stock is up 56.25% in last one year as compared to a 42.98% spurt in NIFTY and a 49% spurt in the Nifty Financial Services index. 2021-07-19 07:35 2KB www.business-standard.com

 44 
0.5
Contract Holdout a ‘Realistic’ Option for Bills QB Josh Allen: Insider

An insider says it is possible that Buffalo Bills quarterback Josh Allen could hold out for a new contract. 2021-07-19 22:28 3KB heavy.com

 45 
0.1
There are real questions about Yankees’ trade deadline plan: Sherman

This time of year exaggerates reactions. Each win. Each loss. It plays larger. Time is expiring for teams to determine exactly who they are — … 2021-07-19 22:15 4KB nypost.com

 46 
0.5
Industry Reaction To The Latest Rightmove House Price Index - ValueWalk

Industry reaction to the latest Rightmove House Price Index report. The availability of stock on the market is the lifeblood 2021-07-19 21:13 2KB www.valuewalk.com

 47 
0.2
As stablecoins explode in popularity, regulators prepare a response.

Asset-backed digital currencies have outstripped oversight, but the Treasury Department, the Federal Reserve and other regulators hope to change that. 2021-07-19 21:11 4KB www.nytimes.com

 48 
1.0
Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%

NEW YORK (AP) — Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%. 2021-07-19 20:05 977Bytes wtop.com

 49 
0.3
Barcelona Wants To Sign a Midfield ‘Beast’: Report

The club is looking for a swap or a midfielder who is available "at a very low price" 2021-07-19 19:43 3KB heavy.com

 50 
1.2
The best online sales and deals happening now, including United by Blue, Chewy, and Madewell

Get up to 60% at United by Blue Save with Chewy Summer Deals Get up to 30% off The North Face at Backcountry Get up … 2021-07-19 19:40 1KB www.businessinsider.com

 51 
0.6
Nearing Retirement? Kick Your Financial Fears To The Curb

While outliving savings in retirement is a very real risk for many Americans, there are a number of steps you can take now to help replace concerns about life in retirement with confidence. 2021-07-19 19:26 7KB www.forbes.com

 52 
0.1
Bitcoin Is At A Critical Juncture

Technical patterns indicate that bitcoin is at a crossroads, which shows it should either rally or more likely fall. 2021-07-19 19:03 2KB www.forbes.com

 53 
0.5
We are currently unavailable in your region

Unfortunately, our website is currently unavailable in your country. We are engaged on the issue and committed to looking at options that support our full … 2021-07-19 18:43 716Bytes www.tribpub.com

 54 
0.1
Insider's top 5 sustainability tips to save time and money

Good Subscriber Account active since Food waste is a massive issue that skews supply and demand, raises prices, and leads to more trash than our … 2021-07-19 18:28 2KB www.businessinsider.com

 55 
0.4
How To Sell Your Ideas To The C-Suite

One of the questions that arose from some lively LinkedIn discussions that followed the article begged this question: How can marketing leaders more effectively get their peers and leadership 2021-07-19 18:16 7KB www.forbes.com

 56 
0.5
Venture Capital Investment In Brazil Reaches $5.2 Billion During H1 2021

Brazilian startups attracted record levels of investment as the ecosystem matures with international funds rushing to seize opportunities in the Latin American country, according to research. 2021-07-19 18:07 2KB www.forbes.com

 57 
0.3
Very Used Cars: High-Mileage Models Are Now Selling For Big Bucks

It seems everything we thought we knew about used-car prices is wrong. 2021-07-19 17:50 4KB www.forbes.com

 58 
0.5
AutoNation shares surge after speeding past earnings estimates

AutoNation said it expects strong demand for new vehicles to continue into next year, as low-interest rates and robust demand helped the top US … 2021-07-19 17:49 3KB nypost.com

 59 
0.8
There’s a radio station coming that will play one artist and one artist only

Plus, some interesting news coming with the June ratings. 2021-07-19 17:41 5KB www.ocregister.com

 60 
0.4
Rhett And Link Are YouTube Legends. Now They Want To Be Investors, Too.

They plan to use their $5 million fund to buy stakes in up-and-coming social media stars, becoming the latest to put money into the burgeoning creator economy. 2021-07-19 17:41 7KB www.forbes.com

 61 
0.8
Clippers Veteran Dubbed ‘Most Likely’ to Be Traded This Offseason

The L.A. Clippers vet could be on the move as part of a package deal this offseason. 2021-07-19 17:22 3KB heavy.com

 62 
0.1
AOC Invests Heavily in Her Swag Shop

New York’s Rep. Alexandria Ocasio-Cortez says she is a “Democratic Socialist.” But she is also trying to make money from products leveraging her brand to sell swag to the masses, acc... 2021-07-19 17:13 2KB pjmedia.com

 63 
0.1
A Guide To Putting Your Money To Work

If FOMO plagues you as you scan headlines about the stock market soaring to new highs, you’re not alone. 2021-07-19 17:13 1KB www.forbes.com

 64 
0.3
Analysis: Democrat ‘Infrastructure’ Bill to Cost $5.4 Trillion

The Committee for a Responsible Federal Budget found that the Democrat “infrastructure” bill would cost $5.4 trillion, which is much more expensive than initially … 2021-07-19 17:12 2KB www.breitbart.com

 65 
1.0
Target offering teachers 15% discount on classroom supplies through July 31

Educators are eligible for a 15% discount at Target now through July 31 for classroom supplies and other essentials. 2021-07-19 16:53 1KB abc7news.com

 66 
0.2
Maine House upholds Gov. Mills’ veto of bill to create consumer-owned utility

Supporters of the effort to force CMP and Versant to sell their assets to a consumer-owned utility have pledged to work to send the issue directly to voters next year. 2021-07-19 16:45 4KB www.pressherald.com

 67 
0.0
Mark Hoppus Shares A Promising Update About His Cancer Treatment

The Blink-182 leader first revealed his diagnosis back in June. 2021-07-19 16:44 2KB uproxx.com

 68 
2.5
Personalization: How to Not Annoy the Customer

Everyone is more than a mere sum of their product purchases. What does ‘personalization’ really mean? And how can marketers use it to truly connect with their customers without annoying them? 2021-07-19 16:27 1KB www.adweek.com

 69 
0.7
Luxury menswear brand Ermenegildo Zegna to become a public company

Luxury menswear brand Ermenegildo Zegna plans to become a publicly traded company on the New York Stock Exchange. The century-old, family-controlled business said Monday … 2021-07-19 16:13 2KB nypost.com

 70 
0.6
Bernie Sanders Is the Real Force Behind the $3.5T Reconciliation Bill

The Vermont senator has been exercising a strong sway in negotiations with the White House for the Democrats’ bill. 2021-07-19 16:11 4KB truthout.org

 71 
0.4
Sixers Insider Ignites Controversial Debate on Bucks Star

Milwaukee Bucks star point guard Jrue Holiday was originally drafted by the Philadelphia 76ers back in 2009 and then traded in 2013. 2021-07-19 16:01 6KB heavy.com

 72 
0.1
Reparations legislation advocates push for new government commission, but short on specifics

Three advocates for slavery reparations legislation acknowledged that they do not know who should be eligible or how to finance compensation, with one supporter comparing American … 2021-07-19 14:59 5KB www.foxnews.com

 73 
0.2
Organizing a Union in the Disorganized World of Small Restaurants

The stresses of the pandemic and the demands for equity have moved many independent-restaurant workers to start labor-union drives. Will they get results? 2021-07-19 14:42 11KB www.nytimes.com

 74 
0.6
Dollar up

The U.S. dollar is up against other North American currencies in New York trading. It's worth 1.28 Canadian dollars, up from late Friday. And the dollar is… 2021-07-19 14:29 750Bytes wtop.com

 75 
0.5
Moody's places Sri Lanka's Caa1 rating under review for downgrade

Read more about Moody's places Sri Lanka's Caa1 rating under review for downgrade on Business Standard. Fragile external liquidity position raises the risk of default 2021-07-19 14:17 2KB www.business-standard.com

 76 
0.4
What Millennials Really Think About Social Security - And Why They Might Not Be Entirely Wrong

Will Social Security "run out of money"? Experts say no, but we should take seriously the polling that says otherwise. 2021-07-19 14:04 6KB www.forbes.com

 77 
0.3
The Retirement Plan Option You May Not Have Heard Of

re you maxing out your employer’s retirement plan contributions? Did you know you might be able to put additional money into your plan after-tax? 2021-07-19 14:00 4KB www.forbes.com

 78 
0.5
Misconceptions About 401(k)s And Long-Term Savings Plans

Employees and employers want smart, tax-advantaged savings plans that eliminate risk and optimize the sequence of returns for taxation. 2021-07-19 14:00 5KB www.forbes.com

 79 
0.2
Just How Desperate Is CNN? It's Not Pretty...

CNN, struggling with horrible ratings and powerful hits to its credibility, has turned to a subscription model. 2021-07-19 13:31 7KB pjmedia.com

 80 
0.1
Major Earnings Week Ahead With 76 S&P 500 Firms Reporting Including Netflix, IBM, CocaCola

Covid headlines are back on page one today, pressuring stock markets around the world and pushing bond yields to five-month lows. The question is whether this picks up or if cooler heads prevail as the day continues. 2021-07-19 13:23 10KB www.forbes.com

 81 
0.7
Revamping Loyalty Programs Could Be The Key To Customer Engagement

In an economy still healing from the shock of the pandemic, expanding the universe of payment options and consumer liquidity is table stakes. 2021-07-19 13:20 6KB www.forbes.com

 82 
0.6
Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound

"You are going to see a massive, my view, economic boom," Ackman said. "We are going to have an extremely strong economy coming in the fall." 2021-07-19 12:52 3KB www.cnbc.com

 83 
1.2
COVID home testing kits coming to Israel - Here’s what you need to know

Although no final pricing has been released, tests are expected to cost around 20 NIS each and could be sold in packs of one, two … 2021-07-19 12:38 1001Bytes www.jpost.com

 84 
0.3
PE/VC investments decline 22% to $5.4 bn in June, up 45% in H1: Report

Read more about PE/VC investments decline 22% to $5.4 bn in June, up 45% in H1: Report on Business Standard. Investments by private equity and venture capital funds declined by 22 per cent to $5.4 billion in June, as compared to the $6.9 billion in the year-ago period 2021-07-19 12:30 3KB www.business-standard.com

 85 
0.1
Gettr Reserves Donald Trump Handle After Fake Account Banned: 'It's in the Safe'

A fake Trump account gained tens of thousands of followers before it was banned from the platform. 2021-07-19 12:11 3KB www.newsweek.com

 86 
0.5
Fostering A Culture Of Innovation To Drive Growth

Responding to quickly changing consumer behaviors and market conditions requires fostering a culture of innovation. 2021-07-19 12:00 4KB www.forbes.com

 87 
2.4
How to shop for the best laptop for school 2021

Know what you're getting for your money Learn about the tech resources available on campus first Look for student discounts before you buy. Decide … 2021-07-19 11:48 1KB www.businessinsider.com

 88 
0.7
S4 Capital reveals ‘unprecedented’ post-pandemic trading activity and new tech ambitions

S4 Capital has reported “unprecedented“ business activity driven by the economic rebound from Covid-19 in a statement released to the London stock market today. 2021-07-19 11:27 886Bytes www.thedrum.com

 89 
0.5
Market Wrap Podcast, July 19: Here's all that happened in the markets today

Read more about Market Wrap Podcast, July 19: Here's all that happened in the markets today on Business Standard. Sectorally, only pharma and realty stocks showed some strength. Nifty Realty gained 0.43% and Nifty Pharma 0.24%. Nifty Private Bank index witnessed heavy profit-taking as the index slipped over 2% 2021-07-19 11:20 3KB www.business-standard.com

 90 
0.3
Nifty July futures trade at premium

Read more about Nifty July futures trade at premium on Business Standard. NSE VIX jumped 8.32% to 12.68. 2021-07-19 11:05 1KB www.business-standard.com

 91 
0.3
Stablecoins should be regulated like banks and central bank digital currencies could tame these 'wildcat' crypto tokens, according to research from the Fed and Yale

Cryptocurrencies that are pegged to a stable asset - known as "stablecoins" - should be regulated as strictly as commercial banks and those that are not should … 2021-07-19 10:42 3KB markets.businessinsider.com

 92 
0.4
With Bond Yields, Something Has to Give

Count on the current high rates of inflation receding as economic growth slows. 2021-07-19 10:30 6KB www.bloomberg.com

 93 
0.2
Quick Wrap: Nifty Private Bank Index falls 2.03%, NIFTY Tumbles 1.07%

Read more about Quick Wrap: Nifty Private Bank Index falls 2.03%, NIFTY Tumbles 1.07% on Business Standard. Powered by Capital Market - Live News 2021-07-19 10:30 1KB www.business-standard.com

 94 
0.5
This Startup Raised $30 Million To Create Brain Maps To Aid Surgeries And Therapeutics

Omniscient Neurotechnology will use the new parts of the new funds to increase the sales of their FDA approved products 2021-07-19 10:30 4KB www.forbes.com

 95 
0.1
Can $30 Million Solve Robinhood’s Legal Issues?

That’s just part of what it’s paying its team of former regulators. 2021-07-19 10:00 5KB www.bloomberg.com

 96 
0.0
Bitcoin Slides Toward $30,000| New Crypto Funding Record

Bitcoin stalls as Binance faces more regulatory questions. Crypto venture capital keeps setting records. 2021-07-19 09:43 5KB www.forbes.com

 97 
0.1
Woman Shares $3k Cleaning Bill After Prosecco Bottle Exploded in Hot Car

The woman, named Jessica McCance, claimed it was the most expensive bottle of alcohol she'd ever bought—and she didn't get to drink it. 2021-07-19 09:01 3KB www.newsweek.com

 98 
0.0
The Bond Market Loves New Jersey. Yes, New Jersey.

Were high taxes and costs to blame when the state’s debt lagged behind with investors? Apparently not. 2021-07-19 09:00 7KB www.bloomberg.com

 99 
0.7
Former HKEX boss Charles Li joins US-listed bond trading platform

Li has joined New York-based MarketAxess as a non-executive director in his first corporate role since stepping down as the highest paid regulator in Hong Kong in December. 2021-07-19 08:45 4KB www.scmp.com

 100 
0.6
Car sharing gains traction in Maine

Entrepreneurial Mainers are building minifleets to take advantage of mounting interest in car-sharing platforms, offering alternatives to traditional auto rentals. 2021-07-19 08:00 8KB www.pressherald.com

 101 
0.7
Transact only with registered payment system operators, BSP tells public

The central bank on Monday urged the public to deal only with legitimate payment system operators when making financial transactions to help ensure that their … 2021-07-19 07:34 2KB business.inquirer.net

 102 
0.2
Fineotex Chemical gains on forming JV with Australia's HealthGuard

Read more about Fineotex Chemical gains on forming JV with Australia's HealthGuard on Business Standard. Fineotex Chemical rose 2.50% to Rs 98.35 after the company said that it has entered into a joint venture with HealthGuard Australia to become the exclusive global marketing and sales channel partner with joint operations from Malaysia. 2021-07-19 07:34 4KB www.business-standard.com

Articles

DC5n United States financial in english 102 articles, created at 2021-07-20 07:03

 

 1 /102 

0.4
Jim Cramer says the stock market will bottom after speculators find the exit
(11.99/12)

The market euphoria is coming to an end after Wall Street was overtaken by rampant speculation, CNBC's Jim Cramer declared after stocks fell hard Monday. "Once the speculators are blown out… and the stocks that are already down huge start rallying, then we can find a tradeable bottom," the " Mad Money " host said. "We're close, but the speculators haven't been fully crushed yet." On Monday the Dow Jones Industrial Average tumbled more than 700 points, turning in its worst day since October as all 30 stocks on the index slid. The S&P 500 and Nasdaq Composite both declined more than 1%. Cramer suggested investors begin looking for buying opportunities in stocks that have already suffered a 10% to 20% pullback. He also recommended investors add a bank stock to their portfolio after the group took a hit, despite posting strong earnings reports. "I think you watch as the speculators get blown to kingdom come, while the pandemic stocks come roaring back and the big industrials try to bottom," he said. "The rails, the aerospace plays other than Boeing... and the infrastructure stocks all make a ton of sense down here well because they're down big" from their highs. Cramer, however, did point to a silver lining coming out of the oil trade. Speculation in oil slowed dramatically, he said, after OPEC agreed over the weekend to boost production. West Texas Intermediate crude futures dropped under $70, a key level, for the first time in more than a month. U. S. oil would finish the day at $66.42 per barrel, a more than 7% decline for its worst day since September. Without the deal, Cramer projected that oil could have run up to $100 per barrel. "The collapse of crude is actually good news for the broader market … it means lower costs for everybody," Cramer said. "Plus, at these levels, some of the better oils are too good to ignore [like] Chevron with a 5.6% yield." Disclaimer Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com
Global shares fall on virus fears; oil slips on OPEC deal
siasat.com
These stocks are already in a bear market amid Monday's market sell-off
cnbc.com
Investors dump stocks, buy bonds as virus fears flare again
wral.com
Investors dump stocks, buy bonds as virus fears flare again
twincities.com
Investors dump stocks, buy bonds as virus fears flare again
pressherald.com
Reopening stocks from airlines to cruise operators are getting hammered as Delta strain drives surge of infections
markets.businessinsider.com
Markets plunge as investors dump stocks, buy bonds as virus fears flare again
ocregister.com
Dow plunges 700: Worst drop since October as investors fear COVID resurgence
wnd.com
Dow drops 725 points in worst day since October amid COVID-19 fears
upi.com
Treasury yields fall to 5-month low as investors flee stocks for safe-haven assets
markets.businessinsider.com
Joe Biden Boasts of Economic ‘Boom’ as Dow Falls More than 900 Points
breitbart.com
Stock Market Plunges As Investors Fear Increasing Coronavirus Cases
dailycaller.com
Stocks Took A Hard Hit. Here Are 3 Things To Know
npr.org

 

 2 /102 

0.7
Ticker: Robinhood sees valuation of up to $35 billion as public co.
(11.99/12)

Robinhood, the online brokerage that found itself embroiled in this year’s meme stock phenomenon, will go public next week seeking a market valuation of up to $35 billion. The company said in a regulatory filing Monday that it hopes to price 55 million shares in its initial public offering in a range of $38 to $42 per share. It could raise about $2.3 billion if the shares are sold at the high end of the range. Robinhood is offering about 52.4 million shares. The company’s founders Baiju Bhatt and Vladimir Tenev, and Chief Financial Officer Jason Warnick, are offering about 2.6 million shares. The company won’t receive any proceeds from shares sold by its officers and founders. The underwriters have an option to buy 5.5 million shares to cover any over-allotments. Microsoft Exchange hack caused by China, US and allies say The Biden administration and Western allies formally blamed China on Monday for a massive hack of Microsoft Exchange email server software and asserted that criminal hackers associated with the Chinese government have carried out ransomware and other illicit cyber operations. The announcements, though not accompanied by sanctions against the Chinese government, were intended as a forceful condemnation of activities a senior Biden administration official described as part of a “pattern of irresponsible behavior in cyberspace.” They highlighted the ongoing threat from Chinese hackers even as the administration remains consumed with trying to curb ransomware attacks from Russia-based syndicates that have targeted critical infrastructure.
Robinhood seeks a $35 billion valuation in its I. P. O.
nytimes.com
Robinhood aims for $35 billion price tag in blockbuster IPO
edition.cnn.com
Robinhood wants to be valued as high as $35 billion in blockbuster IPO
nypost.com
Robinhood is seeking a market valuation as high as $35 billion in upcoming IPO
cnbc.com
Robinhood seeks $35-billion valuation in mega initial public offering
business-standard.com
Robinhood sees valuation of up to $35 billion as public co.
wtop.com
As Bitcoin Prices Slide Amid A Market Slowdown, Crypto-Charged Robinhood Seeks $32 Billion IPO Valuation
forbes.com
SEC Expects Robinhood IPO To Reach $35 Billion Valuation - ValueWalk
valuewalk.com
Robinhood seeks a $35 billion valuation in its I. P. O.
nytimes.com
Robinhood plans to raise as much as $2.3 billion in its upcoming stock market debut
markets.businessinsider.com
Robinhood seeks valuation of up to $35 billion as public company
cbsnews.com
Robinhood sees valuation of up to $35 billion as public company
washingtontimes.com

 

 3 /102 

0.7
Stock Market Sell-Off: Dow Plunges 700 Points In Worst Drop Since October As Delta Variant Fears Mount
(10.99/12)

Stocks fell sharply Monday as the pandemic’s resurgence in the United States fueled expert concerns that the highly contagious Delta variant of Covid-19 could spur renewed restrictions and ultimately curtail the economic recovery. “The main source of the global gloom is Covid, as the virus launches a resurgence with the Delta variant ravaging the large population of unvaccinated people,” Vital Knowledge Media founder Adam Crisafulli wrote in a Monday note to clients, adding that the market's recent optimism and record highs have made it especially vulnerable to any perceived setbacks. “A slew of governments have reinstituted various forms of virus-related lockdown restrictions, and investors are growing concerned about the impact this will have on growth [in the second half]." Despite the market's big drop, Goldman Sachs analysts say the downside economic risks of the Delta variant look only "modest" in the near term—even if the U. S. experiences a virus resurgence similar to the one in the U. K., where new cases are growing at their fastest rate since January. Led by economist Jan Hatzius, the researchers argue widespread vaccination should protect against severe infections, and they point out consumer spending and economic activity largely held up during the variant-spurred wave of infections in the U. K. 5%. That’s how much current concerns over the delta variant could tank the S&P, analyst Thomas Lee of Fundstrat Global Advisors told Marketwatch on Monday, suggesting the index could fall another 2% before losses are reversed. The index is up about 16% this year. After crashing last March, the market posted its quickest recovery in history during the pandemic, but experts have increasingly worried that rapidly spreading variants could once again halt economies. Rochelle Walensky, the director of the Centers for Disease Control and Prevention, said Friday some municipalities should consider imposing mask mandates and warned the rapidly spreading Delta variant is causing a “pandemic of the unvaccinated.” The pressure has intensified over the last few days, with Las Vegas and Los Angeles among major cities tightening their Covid-19 guidelines, fueling concerns that state and local governments may once again impose partial lockdowns. About 140 million Americans, roughly 44% of the nation’s population, have yet to receive a single Covid-19 vaccine dose. On the deal front, Zoom Video Communications announced Sunday night it plans to acquire cloud company Five9 for $14.7 billion in an all-stock deal, making it Zoom’s largest-ever acquisition. Shares of Zoom fell nearly 2% Monday despite the news. OPEC Oil Producers Reach Agreement To Boost Oil Supply As Prices Spike To Nearly 3-Year High (Forbes) Fed Chair Powell Changes Tune On Inflation—Says Higher Prices Could Remain For Months (Forbes) Dow And S&P 500 Hit New Highs Ahead Of Big Bank Earnings (Forbes)
Stocks plunge amid fears over COVID-19 delta variant
eu.detroitnews.com
Stocks drop amid delta variant concerns — what market analysts are saying
cnbc.com
Dow sinks nearly 800 points as Delta variant fears hit Wall Street hard
edition.cnn.com
Dow plunges more than 800 points on fears Delta variant could derail recovery
nypost.com
Stock market sell-off batters energy stocks as Delta variant and falling oil prices worry investors
markets.businessinsider.com
Dow futures sink 450 points as Delta variant fears hit Wall Street hard
edition.cnn.com
Dow plunges 700: Worst drop since October as investors fear COVID resurgence
wnd.com
Dow drops 725 points in worst day since October amid COVID-19 fears
upi.com
Dow Plunges 600 Points Amid Threat Of Delta Variant ‘Ravaging’ Unvaccinated Populations
forbes.com
Dow sinks nearly 800 points as COVID-19 Delta variant fears hit Wall Street hard
abc7news.com
Dow sinks more than 700 points as delta variant stokes new fears for economic recovery
abcnews.go.com
Dow sinks nearly 800 points as COVID-19 Delta variant fears hit Wall Street hard
abc7chicago.com
Dow falls 500 points as fears grow over spread of COVID-19 Delta variant
markets.businessinsider.com

 

 4 /102 

0.8
Stocks drop on fears COVID variants threaten economy's recovery
(10.99/12)

From Wall Street to Sydney, stocks are sinking Monday amid worries that rising mean the pandemic is worsening in hotspots around the world. The S&P 500-stock index fell 1.6% in the first half hour of trading, after setting a record high just a week ago. In another sign of worry, the yield on the 10-year Treasury dropped close to its lowest level in five months. It touched 1.21% as investors scrambled for safer places to put their money. The Dow was down 626 points, or 1.8%, at 34,062, early Monday, while the tech-heavy Nasdaq composite was 1.5% lower. Airlines, hotels and stocks of other companies that would get hurt the most by potential COVID-19 restrictions were taking the heaviest losses, reminiscent of the early days of the pandemic in February and March 2020. Cruise operator Carnival fell 6.2%, and mall owner Simon Property Group lost 6.8%. The drop also circled the world, with several European markets down more than 2%, on worries new virus variants are dragging particularly hard on economies where vaccination rates are low. The price of benchmark U. S. crude, meanwhile, sank more than 5% after OPEC and allied nations agreed on Sunday to eventually allow for higher oil production this year. Experts are saying Indonesia has become a new epicenter for the pandemic as outbreaks worsen across Southeast Asia. Meanwhile, some athletes have tested positive for COVID at Tokyo's Olympic Village, with the Games due to open Friday. "The more transmissible delta variant is delaying the recovery for the {Asia's] economies and pushing them further into the doldrums," said Venkateswaran Lavanya, at Mizuho Bank in Singapore. Even though vaccination rates are higher in the United States and some other developed economies, the tightly connected global economy means hits anywhere can quickly affect others on the other side of the world. In Japan, the world's third-largest economy, the vaccine rollout came later than in other developed nations and has stagnated lately. Japan is totally dependent so far on imported vaccines, and just one in five Japanese have been fully vaccinated. Financial markets have been showing signs of increased concerns for a while, but the U. S. stock market had remained largely resilient. The S&P 500 has had just two down weeks in the last eight. The bond market has been louder in its warnings, though. The yield on the 10-year Treasury tends to move with expectations for economic growth and for inflation, and it has been sinking from a perch of roughly 1.75% in March. It was at 1.22% Monday morning, down from 1.29% late Friday. Analysts and professional investors say a long list of reasons is potentially behind the sharp moves in the bond market, which is seen as more rational and sober than the stock market. But at the heart is the risk the economy may be set to slow sharply from its current, extremely high growth. Besides the new variants of the coronavirus, other risks to the economy include fading pandemic relief efforts from the U. S. government and a Federal Reserve that looks set to begin paring back its assistance for markets later this year. Worries about a possible sharp slowdown have particularly hurt stocks whose profits are most closely tied to the strength of the economy. Stocks of smaller companies, for example, have been scuffling since hitting a peak in March. The Russell 2000 index of smaller stocks slumped 2.3% Monday, outpacing losses for their larger rivals on Wall Street. In Europe, Germany's DAX lost 2.7%, and France's CAC 40 fell 2.6%. The FTSE 100 in London slumped 2.3%. In Asia, Japan's Nikkei 225 lost 1.3%, Hong Kong's Hang Seng fell 1.8%,South Korea's Kospi dropped 1%. Australian stocks sank 0.9%. In Japan, the vaccine rollout came later than in other developed nations and has stagnated lately. Japan is totally dependent so far on imported vaccines and just one in five Japanese have been fully vaccinated. Japan's benchmark Nikkei 225 shed 1.3% to finish at 27,652.74.South Korea's Kospi slipped 1.0% and Hong Kong's Hang Seng fell 1.8%. Investors' attention now turn to the earnings of U. S. companies. Most companies will report their results this week and in following weeks. Hopes are high, with profits in the S&P 500 expected to jump 64% from a year earlier, according to FactSet.
Stocks plunge amid fears over COVID-19 delta variant
eu.detroitnews.com
Investors dump stocks, buy bonds as virus fears flare again
wral.com
Stocks drop amid delta variant concerns — what market analysts are saying
cnbc.com
Investors dump stocks, buy bonds as virus fears flare again
twincities.com
Media, Tech Stocks Slide as Investors Fear COVID Resurgence
variety.com
Dow plunges more than 800 points on fears Delta variant could derail recovery
nypost.com
US stocks slide as investors fear virus surge will dent recovery
independent.ie
Markets plunge as investors dump stocks, buy bonds as virus fears flare again
ocregister.com
Dow plunges 700: Worst drop since October as investors fear COVID resurgence
wnd.com
Investors dump stocks, buy bonds as virus fears flare again
pressherald.com

 

 5 /102 

0.5
Five9 spikes as Zoom announces massive $14.7 billion deal to acquire cloud-based call center operator
(8.62/12)

Shares of Five9 jumped as much as 15% on Monday on a deal by Zoom Video Communications to buy the cloud-based call center software maker in an all-stock transaction valued at $14.7 billion, building on Zoom's business which has boomed during the coronavirus pandemic. Zoom in a joint statement said the deal will be its entry into the $24 billion contact center market and will boost its presence with enterprise customers. Five9 has more than 2,000 customers worldwide and it said it facilitates billions of customer engagements each year. Five9 stockholders will receive 0.5533 Class A shares of Zoom for each share of Five9 they own. Five9 climbed 7.8% after stepping up by 15% to $196.99 in premarket trading. Shares of the company, which went public in April 2014, were on course to trade at all-time highs. The stock has risen by about 50% over the past 12 months. Meanwhile, Zoom stock was down 2% early Monday but has picked up 35% over the last year alongside its leap in business as millions of people worldwide took up videoconferencing for work and studying remotely because of the COVID-19 health crisis. The company, based in San Jose, California, in March posted a 326% spike in revenue to $2.65 billion. "Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers," Eric Yuan, Zoom's founder and CEO, said in a statement. Zoom and Five9 expect the deal to close in the first half of 2022, subject to approval by Five9's shareholders, among other conditions.
Zoom stock tanks on news of $14.7 billion Five9 deal
nypost.com
Zoom Buys Cloud Company Five9 For $14.7 Billion - ValueWalk
valuewalk.com
$14.7 Billion Five9 Acquisition Aims To Revive Zoom’s Growth
forbes.com
Zoom buys cloud call centre company Five9 for $14.7 bn in all-stock deal
business-standard.com
Zoom buying Five9 in $14.7B all-stock transaction
wtop.com
Zoom to acquire cloud contact center company Five9 for $14.7B
venturebeat.com
Zoom buys Five9 in $14.7 billion deal to prepare for a post-pandemic world
edition.cnn.com
Zoom to purchase cloud software company Five9 for $14.7B
upi.com

 

 6 /102 

0.4
Bill Ackman Calls Off SPAC Deal for Universal Music Group
(6.43/12)

Billionaire investor Bill Ackman announced early Monday that he has decided not to use his SPAC to acquire a 10% stake in Universal Music Group after the Securities and Exchange Commission voiced concerns about the complicated agreement, which would have been the biggest SPAC transaction to date. However, Ackman plans to use his hedge fund to buy the stake — now between 5 and 10% — directly instead. UMG parent company Vivendi had previously announced that UMG would be spun off as a standalone entity to trade on Euronext after it distributes 60% of UMG to its shareholders by September. It confirmed in an announcement that if Ackman’s share is less than 10%, it will sell the shortfall to other investors. Earlier this year, Ackman’s special purpose acquisition company, Pershing Capital, unveiled plans to acquire 10% of the world’s largest music company, which was valued at more than $40 billion. Pershing Square also owns stakes in Chipotle, Domino’s Pizza, the Lowe’s home improvement chain and Hilton Hotels but had not previously held any other media or entertainment properties. In a letter to investors cited by the New York Times and other outlets, Ackman said Pershing had failed to change the agency’s mind about the deal. Investors in the SPAC, which is called Pershing Capital Tontine Holdings, seemed to lack confidence in the deal: Its shares had dropped in value by nearly 20% since the deal was announced early in June. “Our share price has fallen by 18 percent since the transaction was announced on June 4,” Ackman wrote, noting that the SEC raised issues “with several elements of the proposed transaction – in particular, whether the structure of our initial business combination qualified under the New York Stock Exchange rules. “We underestimated the reaction that some of our shareholders would have to the transaction’s complexity and structure.” The terms of the arrangement called for the SPAC to invest $4 billion for 10 percent of UMG, which parent company Vivendi had Additionally, China’s Tencent acquired 20% of UMG, leaving 20% to Vivendi, to which it was considering selling half, as reported by Variety on May 18. Pershing Square Tontine now has 18 months to find and close a new deal, unless shareholders give it more time, and “our next business combination will be structured as a conventional SPAC merger,” Ackman said.
Bill Ackman's SPAC Drops Universal Music Deal - ValueWalk
valuewalk.com
Bill Ackman’s Deal Machine Must Try Again
nytimes.com
Bill Ackman drops SPAC deal with Universal Music.
nytimes.com
Bill Ackman’s SPAC drops $4B Universal Music deal over SEC scrutiny
nypost.com
Pershing Square SPAC exits Universal Music deal
wtop.com
Bill Ackman abandons Universal Music SPAC deal after SEC backlash
business-standard.com
Bill Ackman's PSTH scraps Universal Music deal after SEC pushback —but the billionaire investor is still buying a stake
businessinsider.com

 

 7 /102 

0.6
The coronavirus recession only lasted 2 months, the shortest downturn in US history
(6.35/12)

Good Subscriber Account active since The National Bureau of Economic Research wrote in an announcement on July 19 that the pandemic recession only lasted two months, from February 2020 to April 2020. That makes this the shortest recession in US history. NBER added in its announcement that the previous shortest recession, between January 1980 and July 1980, was six months long. NBER defines a recession usually as "a decline in economic activity that lasts more than a few months." But the pandemic was a unusual situation. "The recent downturn had different characteristics and dynamics than prior recessions," NBER wrote . "Nonetheless, the committee concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warranted the designation of this episode as a recession, even though the downturn was briefer than earlier contractions." As seen in the following chart, the US lost over 20.6 million jobs in April 2020 alone and a total of over 22 million in March and April together. The unemployment rate also spiked in April to 14.8%,11.3 percentage points higher than the rate in February 2020, as employees were furloughed or laid off early on in the pandemic. The US is slowly recovering from these job cuts and has mainly seen monthly employment gains since summer 2020. However, nonfarm payrolls are still down about 6.8 million jobs from their February 2020 level before the pandemic. The US added 850,000 nonfarm payroll jobs in June, and the unemployment rate is still higher than the pre-pandemic rate at 5.9% as of June 2021. The US is still recovering, and NBER notes that periods of expansion don't always mean robust economic activity. "Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion," NBER wrote in its announcement.
The COVID Recession Was The Shortest In US History, But We Spent More Than In Any Prior Recession
dailywire.com
It's official: The Covid recession lasted just two months, the shortest in U. S. history
cnbc.com
Officially, the pandemic recession lasted only two months.
nytimes.com
Coronavirus recession was shortest, steepest on record, economists say
cbsnews.com
U. S. Pandemic Recession Lasted Just Two Months, Committee Report Says
newsweek.com
The pandemic recession was the shortest in history, lasting just two months
edition.cnn.com

 

 8 /102 

0.2
California launches largest free school lunch program in US
(5.26/12)

When classrooms in California reopen for the fall term, all 6.2 million public school students will have the option to eat school meals for free, regardless of their family’s income. The undertaking, made possible by an unexpected budget surplus, will be the largest free student lunch program in the country. School officials, lawmakers, anti-hunger organizations and parents are applauding it as a pioneering way to prevent the stigma of accepting free lunches and feed more hungry children. “This is so historic. It’s beyond life-changing,” said Erin Primer, director of food services for the San Luis Coastal Unified School District on California’s central coast. Several U. S. cities including New York, Boston and Chicago already offer free school meals for all. But until recently, statewide universal meal programs were considered too costly and unrealistic. California became the first state to adopt a universal program late last month, and Maine followed shortly after with a similar plan. “We’ve completely leveled the playing field when it comes to school food,” Primer said. The extra funding will also allow her to offer tastier, better quality food such as fresh bread, produce and cheese from local producers, she said. Under federal rules, a family of four must make less than $34,000 a year to qualify for free meals and $48,000 to qualify for reduced-price meals. The caps shift annually but are based on federal poverty measures that don’t take into account the high cost of living and taxes in California. “So it’s just for the most poor families, and not even all of them because some people failed to sign up or were fearful to sign up,” said Kat Taylor, a philanthropist and major funder of the Center for Ecoliteracy and the TomKat Ranch that backed California’s plan. About 60% of California students qualify, but experts say the number of children who need food assistance is much higher in a state with vast income inequality. Communities of color are disproportionately affected and immigrant communities in particular are fearful of applying because of detailed forms that ask intrusive questions such as their family income, Social Security number and children’s immigration status. Schools reported a declining percentage of families applying for free and reduced-price meals during the Trump administration, which attempted to tighten immigration policies and public benefits. Like school officials statewide, Primer has countless tales of children who struggled to pay for school meals or were too ashamed to eat for free. There was the child whose mother called Primer, distraught because she made a few hundred dollars too much to qualify; the father who is in the country illegally and feared that filling out the free meal application could get him deported; and constant cases of high schoolers not wanting friends to know they need free food, so they skip eating. When the pandemic hit, it changed everything — including how school meals were served — and provided an impetus for the universal program, which had bipartisan, unanimous support. Lawmakers previously had only pursued targeted bills such as easing school lunch debt. After schools shut in March 2020, many transformed their parking lots into pickup sites, and federal funding allowed schools to offer meals to anyone. There were no applications, qualifications and no questions asked. The massive turnout showed how much families rely on the meals. The Los Angeles Unified School District, the state’s largest with 600,000 students, handed out upward of 400,000 meals a day, said spokeswoman Shannon Haber. San Luis Coastal, with 7,500 students, gave out 30,000 meals a week at the height of the pandemic, nearly triple the number before. The district includes the wealthy city of San Luis Obispo and lower-income areas. “I thought it was a pipe dream for a long time,” said Sen. Nancy Skinner, a longtime advocate for universal free meals. Backed by over 200 organizations in a coalition called “School Meals for All,” Skinner and other lawmakers pushed for funding in the state budget, seizing the momentum at a time when California is flush with cash. The $262 billion budget provides $54 million for the coming school year, supplementing funding from the Biden administration through June 2022. After that, California will spend $650 million annually. “If you’re a hungry child, you’re not going to learn well,” said Skinner, a Democrat representing Berkeley. “Why should we have to go through a bureaucratic hassle to get a kid fed, when we could just have universal meals?” Senate Education Committee Republicans supported the plan as a way to help families struggling with California’s high cost of living. Sen. Brian Dahle, a Republican from a largely rural area of Northern California, said he had watched kids at his children’s school steal leftover food when cafeteria workers weren’t looking. “For a lot of them that was their dinner and they were sneaking it or taking it off someone’s plate when they didn’t finish it,” said Dahle. Schools rarely turn hungry kids away. But for children who didn’t qualify and needed lunch, their parents were billed and many racked up huge debts. In recent years some schools threatened to not let students graduate middle or high school until lunch debts were paid, or stamped the hands of students who owed money, said Jessica Bartholow, chief of staff for Skinner who previously was an anti-hunger advocate. Some schools would hire debt collectors to hound parents, but at the end of the year schools have to use general fund dollars to pay off lunch program debts, she said. For Tina Self, a mother of three, avoiding the cost of $3 school lunches every day will be an enormous relief. “It might seem like a little bit, but it helps a lot,” said Self, who lives in San Luis Obispo where a gallon of gas can cost just shy of $5 a gallon and rent is “crazy.” “Lucky for us we both have a job and we have two running cars,” she said of herself and her husband. “But we’re barely making it as it is.” Tony Wold, an associate superintendent of the West Contra Costa Unified School, says it’s about time lunches were free. “Just like you need to give students textbooks and a computer, there are certain things you need to do. And this is one of them,” Wold said. ___ This story has been corrected to say that Kat Taylor is a major funder of the Center for Ecoliteracy, not its co-founder.
California launches largest free school lunch program in US
abc7news.com
California launches largest free school lunch program in US
eu.detroitnews.com
California to feed 6.2 million students in largest free school lunch program in US
ocregister.com
California launches largest free school lunch program in US
wral.com
California launches largest free school lunch program in US
washingtontimes.com

 

 9 /102 

0.8
Robinhood’s IPO Will Make Billionaire Cofounders Tenev And Bhatt Even Richer
(4.50/12)

Stock trading app Robinhood is targeting a valuation of up to $35 billion in its initial public offering—meaning its two cofounders are set to add billions to their fortunes—according to an amended SEC filing on Monday. The highly anticipated IPO will make Robinhood’s billionaire cofounders, Vlad Tenev,34, and Baiju Bhatt,36, even richer. According to the updated filing, Tenev holds 54.3 million shares of class B stock, while Bhatt has 80.2 million shares. The two cofounders each plan to sell around 1.25 million class A shares as part of the deal. At $40 per share, the midpoint of the proposed offering range, Tenev’s stake in Robinhood would be worth around $2.2 billion and Bhatt’s would be worth $3.2 billion, Forbes calculates. The mobile-friendly discount brokerage, which pioneered commission-free stock trades, aims to raise as much as $2.3 billion in its upcoming public market debut, which could happen as early as next week. The company plans to sell a total of 55 million shares at a range of $38 to $42 per share, trading under the ticker “HOOD,” according to its updated prospectus. Taking into account various awards and restricted stock units, after the IPO closes, Tenev and Bhatt will each own a 7.9% stake in the company, and hold all class B stock, which have 10 votes per share, according to filings. In total, Tenev will have 26.2% voting power, while Bhatt will have 39%. Robinhood’s last private market valuation was $11.7 billion, following a fundraising round in September 2020. That valuation made Tenev and Bhatt billionaires, worth $1 billion each, according to Forbes. Robinhood’s initial S-1 filing from earlier this month also disclosed an incentive-laden restricted stock award plan that could earn cofounders Tenev and Bhatt billions of additional dollars in coming years. In late May, Robinhood’s board approved awards of 22,200,000 and 13,320,000 restricted stock units to Tenev and Bhatt, respectively, which will vest over eight years after its IPO depending on how the company’s stock performs. If Tenev and Bhatt achieve each of these price-based stock milestones, which range from Robinhood reaching $120 per share to $300 per share, the total award would be worth over $7.5 billion based on current pricing. Tenev could stand to make an additional $4.7 billion, while Bhatt could make over $2.8 billion. The pair cofounded Robinhood in 2012, after meeting as undergraduates at Stanford University in 2005. They launched the trading app in 2013, with the mission to “democratize finance for all.” Robinhood was the first to pioneer commission-free trading, disrupting the entire brokerage industry and eventually leading to larger rivals like E-Trade, Schwab and TD Ameritrade to all follow suit by slashing fees. Since the onset of the Coronavirus pandemic in 2020, Robinhood’s business has grown exponentially, bringing its active users to more than 21 million as droves of millennials took to the app to trade stocks and options during quarantine. Robinhood’s ascent hasn’t been without growing pains, however: The company has been besieged by technical problems and regulatory scrutiny. Just last month, Robinhood was hit with a record $70 million fine by regulatory body FINRA, which revealed how the company had lost clients’ money due to chronic outages and incorrectly sending margin calls on millions of options trades. In June 2020, Forbes first reported that a 20-year-old Robinhood customer, Alex Kearns, died by suicide after seeing a negative $730,000 balance on his account due to options trading. Two days later, Robinhood’s founders pledged to tighten eligibility criteria, educational resources and upgrades to its user interface for customers trading options. The Kearns family sued Robinhood in February in a wrongful death suit. Robinhood has also come under fire for how it makes money. Last August, a Forbes investigation spelled out how the company generated the bulk of its trading revenue off of speculative options trades made by customers. A large chunk of Robinhood's transaction revenues—over 80%, according to SEC filings—comes from so-called “payment for order flow,” essentially selling customers’ orders to trading titans like Citadel Securities.
Fintech keeps minting billionaires as Robinhood co-founders prepare for massive IPO
cnbc.com
Robinhood seeks up to $35-billion valuation in upcoming mega US IPO
business-standard.com
Robinhood aims for $35 billion price tag in blockbuster IPO
edition.cnn.com
Robinhood CEO Vlad Tenev could be worth $2.5 billion after IPO
cnbc.com
Robinhood wants to be valued as high as $35 billion in blockbuster IPO
nypost.com

 

 10 /102 

0.1
Biden touts economy, pushes infrastructure bill
(4.11/12)

President Biden on Monday touted the economy and argued a bipartisan infrastructure deal will provide further help to workers and consumers. “Our economy’s come a long way over the last six months. We can’t slow down now," Biden said in remarks from the White House. "We can make this boom we’re experiencing today one that will ensure that all Americans have the opportunity to share in it for years to come and we can show the world that American democracy can deliver for the people,” he added. Biden spoke amid a sell-off on Wall Street, where stocks were falling over concerns about the rising number of coronavirus cases around the country. The bipartisan infrastructure deal is also in some peril, with Republicans and Democrats fighting over how to pay for a portion of the bill, which is expected to cost $1.2 trillion over eight years. The economy has been a strong point for Biden despite concerns over inflation and the stock selloff, as markets were recently at record highs and the economy has continued to create jobs. Biden on Monday sought to ease concerns over inflation. “My administration understands that if we were to ever experience unchecked inflation over the long term, that would pose a real challenge to our economy. So while we’re confident, that isn’t what we’re seeing today. We’re going to remain vigilant about any response that is needed,” he said. Biden added that the Federal Reserve “is independent” and “should take whatever steps it deems necessary” to prevent inflation. The president tied his remarks on the economy to call for every American to be vaccinated. “We can’t let up, especially since, and because of, the Delta variant, which is more transmissible and more dangerous,” he said, adding that four states made up 40 percent of all COVID-19 cases last week. “If you’re unvaccinated, you are not protected. So please, please get vaccinated. Get vaccinated now, it works, it's safe, it's free, it’s convenient,” he said. Last week, Surgeon General Vivek Murthy issued an advisory calling health misinformation an “urgent threat” amid the push to get more Americans vaccinated against COVID-19. Biden commented on criticism during the campaign that if he was elected, it would be the end of capitalism. “I never understood that one but we’ve heard an awful lot,” he said. “Folks, it turns out capitalism is alive and very well. We’re making serious progress to ensure that it works the way it’s supposed to work, for the good of the American people. For all those predictions of gloom and doom six months in, here’s where we stand. Record growth, record job creation, workers getting hard earned breaks,” he said.
Biden to push for infrastructure deal as economy rebounds
myfox8.com
Biden will promote the economy and push for further spending in a speech.
nytimes.com
President Biden discusses economic recovery ahead of infrastructure push
cbsnews.com
Joe Biden touts infrastructure deal, seeks to ease inflation fears
upi.com

 

 11 /102 

0.4
Covid-19 surge sparks bond rally, stocks on worst run in 18 months
(3.40/12)

moved away from risky assets on Monday as a rise in worldwide cases crushed bond yields and left stocks facing losing streaks, with Wall Street falling more than 1%. New COVID-19 cases rose in England and Asia, with U. S. infections soaring 70% last week, dampening optimism on the economic recovery. The 10-year yield fell 8.7 basis points to 1.212%, a low last seen in February, while the S&P 500 fell for a third straight session. " shed risk assets in early morning trading amid fears of a surge in COVID infections that have the potential to curtail global growth," said Peter Essele, head of investment management for Commonwealth Financial Network, in an e-mailed statement. "The risk aversion was most pronounced in the 10-year Treasury yield, which fell to its lowest level since the early days of 2021. "Fear of stagflation will be a major concern for if a resurgence in COVID infections causes economies to slow while consumer prices continue an upward trajectory," Essele said. The Dow Jones Industrial Average dropped more than 2% mid-morning on Monday, with the S&P 500 falling 1.5%. The Nasdaq Composite fell nearly 1%. MSCI's all-country world index, a gauge of global shares, was down 1.71%. In a sign of the continued implications of the pandemic, Britain's "freedom day," ending over a year of COVID-19 lockdown restrictions in England, was marred on Monday by surging infections, warnings of supermarket shortages and British Prime Minister Boris Johnson's own forced self-isolation. Britain's fully vaccinated health minister also contracted the virus. U. S. deaths from the coronavirus, spurred by the dominant Delta variant, are up 26%, with outbreaks occurring in parts of the country with low vaccination rates. About one in five new cases are in Florida. "The big concern for the market is whether we are going to see a slowdown in the global economic recovery, and this could be the overriding force which results in a bad period for equities in the weeks ahead," said Russ Mould, investment director at brokerage AJ Bell. On Wall Street, value stocks, including financials, industrials, materials and energy dropped between 2.1% and 4.2%. Europe's STOXX 600 slid over 2% in its worst session in seven months. London's FTSE fell a similar amount to the lowest since mid-May. were fretting over whether broader lockdowns might be needed again and a slowdown in China, the world's No.2 economy, meaning a recent surge in commodity prices could be peaking. Natwest's Global Head of Desk Strategy John Briggs said rising COVID-19 cases would focus on which countries had the highest vaccination rates, their appetite for social restrictions and their fiscal appetite. "The U. S. comes out on top of all these," Briggs added. "We are in a period of renewed U. S. exceptionalism... So all this is bullish for the USD." The greenback climbed to a more than three-month peak against a basket of major currencies. Oil prices, however, fell 5% as OPEC+ agreed to boost output, causing concerns about a crude surplus. The decline was the largest since late March. Brent crude was down $3.61, or 4.9%, at $69.68 a barrel. U. S. oil was down $3.75, or 5.2%, at $68.06 a barrel. Investors are also worried about the specter of elevated inflation, which the market has long feared. Economists at Bank of America downgraded their forecast for U. S. economic growth this year to 6.5%, from 7% previously. "Despite rising vaccination rates, a return to pre-Corona normality seems questionable," Ulrich Leuchtmann, head of FX and commodity research at Commerzbank, wrote in a research note.
Global shares fall on virus fears; oil slips on OPEC deal
siasat.com
Stock Market Plunges As Investors Fear Increasing Coronavirus Cases
dailycaller.com
Stock market volatility can be an opportunity for investors. Here’s why
cnbc.com

 

 12 /102 

0.7
The 10 Best Things To Buy At Everlane’s Rare Summer Sale
(3.10/12)

Want to add some well-made basics to your wardrobe without spending a small fortune? That’s generally not possible, but thanks to this week’s Everlane sale, it can be your shopping reality. Right now, the direct-to-consumer brand is taking up to 60% off its beloved cashmere, jeans, boots and more. During Everlane’s Summer Sale, you can shop hundreds of minimalist pieces for both men and women at impressive markdowns. So whether you’re looking for some last-minute summer essentials or you’re hoping to get a head start on prepping your closet for fall, this sale is the perfect opportunity to do so. To give you some inspiration for your shopping spree, we’ve rounded up 10 items from the Everlane sale worth adding to your cart below. Everlane is known for making awesome denim, and the ‘90s Cheeky is one of the brand’s most-popular style. With strategically-placed patchwork and a straight-legged silhouette, this pair is just as comfortable as it is flattering. Fun fact: Everlane teamed up with a LEED-certified denim factory that works hard to reduce CO2 emissions and recycled water used in the manufacturing process when creating these jeans. Scoring a brand new cashmere sweater for $50 is practically unheard of, so don’t let this opportunity pass you by. The discount applies to nine different colorways, so you might want to invest in multiple shades while you’re at it. Everlane’s Summer Sale is a great time to stock up on warm weather essentials. These chino shorts are the perfect cross between comfort and style. They’re elevated enough to wear to barbecues and date nights alike, and they have a special moisture-wicking, ultra-stretchy fabric that’ll keep you comfortable even on humid days. Considering these cult-favorite boots have earned a 4.76/5-star rating from over 1,000 reviewers, it’s safe to say they live up to the hype. We suggest snagging a pair while they’re 60% off and saving them in your closet until the fall. Want to take your assortment of Zoom-friendly tops to the next level? Consider buying this sophisticated silk wrap top, which is currently 50% off. Available in three neutral shades, this shirt is primed to become a staple in your work wardrobe. Best of all, it’s part of Everlane’s washable silk collection, so you can throw it in the laundry without second thought. If you’re heading back to the office, you’ll need a bag to store your laptop, notebook and important paperwork. With plenty of pockets and a padded sleeve that can fit a 15-inch MacBook, this backpack ticks all of the necessary boxes. Plus, the modern silhouette is bound to receive some compliments on your way to work. These durable chinos have a smidge of stretch, making them more comfortable than your traditional pair. And they’ll compliment everything from chunky sweaters to polished button-downs. “This dress is amazing—super comfy and flattering. Now I have [it] in three colors,” writes one woman. The 100% cotton material is designed to feel soft and lived-in from the very first wear. Simply slip this cotton blazer over your t-shirt and jeans, and you’ll look boardroom-ready in no time. Wearers say the lightweight material is perfect for the warmer months. Think of this polo as the happy medium between a crisp button-down and your favorite tee. Everlane reimagined the timeless silhouette in organic cotton, making this shirt the hero of your closet. And the $24 price tag makes this a budget-friendly pick.
10 Orange-y Beauty Buys I Need in My Summer Rotation Right Now
popsugar.com
Stock up on chic styles from Everlane’s Summer Sale right now
us.cnn.com
Everlane is having a huge summer sale right now, and we hand-picked the best deals
businessinsider.com

 

 13 /102 

0.1
Why Peloton Stock Is Poised To Recover From The Sell Off
(2.36/12)

Peloton stock (NASDAQ: PTON) has declined by about 10% over the last week (five trading days), compared to the S&P 500 which was up marginally over the same period. The recent decline comes on the back of downgrades by brokerage analysts, including a long-time Peloton bull, who have cited mounting competition in the connected fitness space and inflated expectations of the company. The broader rotation out of at-home stocks into cyclical and value stock has also hurt Peloton stock, which remains down by roughly 25% year-to-date. So will Peloton stock continue to trend lower over the coming weeks and months, or are gains looking more likely? According to the Trefis Machine Learning Engine, which identifies trends in a company’s historical stock price data, returns for Peloton stock average 8% in the next month (21 trading days) period after experiencing a 10% drop over the last five trading days. The stock is also likely to outperform the S&P 500 over the next month, with an expected return that would be 8.5% higher compared to the S&P 500. But how would these numbers change if you are interested in holding Peloton stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning to test PTON stock chances of a rise after a fall and vice-versa. You can test the chance of recovery over different time intervals of a quarter, month, or even just one day! MACHINE LEARNING ENGINE – try it yourself: IF PTON stock moved by -5% over 5 trading days, THEN over the next 21 trading days PTON stock moves an average of 8.7%, with a 62.2% probability of a positive return over this period. Also, given a -5% movement for the stock over 5 trading days, it has historically witnessed an excess return of 8.5% compared to the S&P 500 over the next 21 trading days, with a 58.2% percent probability of a positive excess return. Some Fun Scenarios, FAQs & Making Sense of PTON Stock Movements: Question 1: Is the average return for PTON stock higher after a drop? Answer: Consider two situations, Case 1: Peloton Interactive stock drops by -5% or more in a week Case 2: Peloton Interactive stock rises by 5% or more in a week Is the average return for Peloton Interactive stock higher over the subsequent month after Case 1 or Case 2? PTON stock fares better after Case 2, with an average return of 8.7% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an average return of 11.2% for Case 2. In comparison, the S&P 500 has an average return of 3.1% over the next 21 trading days under Case 1, and an average return of just 0.5% for Case 2 as detailed in our dashboard that details the average return for the S&P 500 after a fall or rise. Try the Trefis machine learning engine above to see for yourself how Peloton Interactive stock is likely to behave after any specific gain or loss over a period. Question 2: Does patience pay? Answer: If you buy and hold Peloton Interactive stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you - at least if the company is otherwise strong. Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks! For PTON stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Question 3: What about the average return after a rise if you wait for a while? Answer: The average return after a rise is understandably lower than after a fall as detailed in the previous question. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks - although PTON stock appears to be an exception to this general observation. PTON’s returns over the next N days after a 5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: See all Trefis Featured Analyses and Download Trefis Data here
Investors dump stocks, buy bonds as virus fears flare again
wral.com
Investors dump stocks, buy bonds as virus fears flare again
twincities.com

 

 14 /102 

0.4
Biden says inflation ‘temporary,’ urges more Americans to get vaccinated against COVID-19
(2.33/12)

President Biden said Monday that a spike in inflation and consumer prices is temporary but the economy is still riding “ups and downs,” and urged more Americans to get vaccinated against COVID-19. “We cannot afford to be complacent,” the president said in an address at the White House. “We can’t let up, especially since and because of the delta variant, which is more transmissible and more dangerous.” He said the virus “doesn’t have to hold our economy back any longer.” Referring to the largest jump in inflation in more than a decade, the president said “no serious economist” believes that unchecked inflation is ahead. “That’s not our view,” Mr. Biden said. “These disruptions are temporary.” He said of shortages and price increases: “You can’t flip the global economics light back on and not expect this to happen.” The president also rejected concerns that his proposals for nearly $4 trillion in new spending on social programs and infrastructure would add inflationary pressures. He called on Congress to approve his plans, saying his agenda will boost the economy. “If your primary concern right now is about inflation, you should be even more enthusiastic about this plan,” he said. Republicans quickly hit back at the president’s economic rationale. “Inflation is very real and President Biden has absolutely no regard for the rise in the cost of goods,” tweeted Rep. Andy Biggs, Arizona Republican. The president said thanks to his policies, including a $1.9 trillion coronavirus relief package in March, the U. S. is experiencing “the highest economic growth rate in nearly 40 years.” “We’ve brought this economy back from the brink,” Mr. Biden said. “It turns out capitalism is alive and very well.” The president acknowledged that persistent inflation “would pose a real challenge for our economy.” He said he told Federal Reserve Chairman Jerome Powell in a recent meeting that the Fed should “take whatever steps it deems necessary to support a strong, durable economic recovery.”
Biden insists inflation is ‘temporary,’ ‘expected’ despite $4.7T spending plan
nypost.com
Canada surpasses U. S. in share of fully vaccinated against COVID-19
washingtontimes.com
20% of Americans believe government is injecting microchips in COVID-19 vaccines, survey finds
myfox8.com

 

 15 /102 

0.4
Will Nordstrom’s Anniversary Sale Boost Earnings?
(2.14/12)

Nordstrom Inc. is hoping that consumers coming out of the pandemic are scanning their closets and finding that they have nothing to wear. A survey the retailer conducted in June found that 36% of participants felt their clothes were irrelevant. Nordstrom is hoping they shop its Anniversary Sale – its biggest event of the year – offering discounts on fall merchandise. After the sale ends, prices revert back to full price. The retailer needs to lift earnings and appease Wall Street, which is looking for growth of 28 percent in fiscal 2021. Nordstrom’s quarterly sales haven’t bounced back to pre-pandemic levels yet. The retailer anticipates a 25% increase for the year, from net sales of $10.36 billion in 2020, below the $15.13 billion it posted in 2019. The Anniversary Sale kicked off with Nordy Club members getting early access. How early depends on consumers’ rewards level and how much they spend per year at Nordstrom. The sale opens to all shoppers on July 28 and runs through August 8. Nordstrom’s survey reported that 35% consumers are more open to trying new styles, and 40% said they feel stuck in their personal style. The retailer said the findings bode well for its Anniversary Sale, which offers an additional 100 brands over last year’s event. Examples of deals include an AllSaints Dalby leather biker jacket, sale $299.90, after sale, $459; French Connection Mozart popcorn cotton sweater, $76.90, after sale, $128, and The Mother high-waisted ankle flare jeans, $145.90 versus $218. Anniversary Sale items are highlighted with bold yellow graphics. “We’re seeing a huge increase in lounge wear and comfy chic,” a spokeswoman said, adding that the survey revealed a 165% increase in searches for work wear. Jamie Nordstrom discussed the sale and other initiatives in an interview at the retailer’s Manhattan flagship. Anniversary Sale events include trunk shows and Restaurant Week, July 25 to July 31. “There’s demand for the customer to have a cool experience,” Nordstrom said, “whether it’s having a drink with a friend at the bar [there’s one in the shoe department] or having events that bring people together.” In an attempt to attract younger consumers, Nordstrom last week acquired a minority stake in Asos Holdings, whose portfolio includes the Topshop, Topman, Miss Selfridge and HIIT brands. The partnership will help drive the growth of the brands and re-imagine the traditional retail-wholesale model. “I think there’s a couple elements to that deal that are important,” Nordstrom said. “We’ve gotten to know them as the U. S. retailer for Top Shop. We started a dialog with them. We see the world in the same way and a really good portion of our businesses are very complementary.” Asked whether the company is looking to strike similar deals with other brands, Nordstrom said, “These things are tough to pull off. How do you attract young customers who don’t know what Nordstrom is. You can’t repeat the same playbook. “Asos is really good at bringing young consumers and we’re good at other things,” Nordstrom said. “We’re not necessarily looking for that nor do we have some strategy. It would be more opportunistic. Brands may choose not to have as many retail partners. We want to be a partner of choice.” Nordstrom has a test and learn culture. “We’ve done a few things, we partnered with Rent the Runway and have done a re-commerce initiative,” Nordstrom said, referring See You Tomorrow, its 2020 resale shop trial. “The customer gives us license to try new things. There’s a lot going on.” Supply chain challenges may temper results of the Anniversary Sale and create shipping backlogs that delay orders. “The challenge now because of the pandemic is supply chain delays,” Nordstrom said. “Brands don’t have back-ups for us to reorder against. We planned conservatively, but have the ability to make reorders. There are delays just in getting product on shore.” Supply chain pressures weighed on first quarter earnings with Nordstrom reporting a loss of $166 million, or $1.05 per share for the period ended May 1, versus a loss of $521 million, or $3.33 a share, in the prior year. Nordstrom said the company is working on catching up supply to meet demand. “We’ve had to be more creative,” he said. “We’ve been dealing with this for 18 months and have had to think of a way to survive.”
Shop Spanx faux leather leggings in Nordstrom’s Anniversary Sale
nypost.com
Get Nike shoes in all styles and sizes at the Nordstrom Anniversary Sale 2021
usatoday.com
Here’s Everything You Need To Know About The Nordstrom Anniversary Sale (Including What To Buy)
forbes.com

 

 16 /102 

0.9
Child Tax Credit: Monthly Payments Already Arriving In Parents’ Bank Accounts
(2.04/12)

(CBS Philadelphia) — The Internal Revenue Service (IRS) sent out advance payments for the updated Child Tax Credit on July 15. According to the White House, the first round totals $15 billion and will reach households accounting for 60 million kids. By midday on Thursday, money was already showing up in people’s bank accounts via direct deposit. The process will continue today and possibly into early next week, depending on individual banks. The arrival of mailed checks may take a little longer, given the vagaries of the U. S. postal system. Future payments will happen monthly through the end of the year, thanks to the American Rescue Plan passed back in March. Families are allowed to use the Child Tax Credit money however they see fit. That means the extra $250 or $300 per child can be put toward essentials like food or rent. It may also be used to buy a new computer, which the pandemic has taught is necessary for remote learning. Other households may apply the money toward piano lessons, daycare or even diapers. Regardless, knowing that the extra income will be there every month allows for a measure of security and flexibility in a world that’s full of surprises. The IRS is paying $3,600 total per child to parents of children up to five years of age. That drops to $3,000 for each child ages six through 17. Half of the total is being paid as six monthly payments and half as a 2021 tax credit. The IRS has made a one-time payment of $500 for dependents age 18 or full-time college students up through age 24. The updated Child Tax Credit is based on parents’ modified adjusted gross income (AGI), as reflected on their 2020 tax filing. (AGI is the sum of one’s wages, interest, dividends, alimony, retirement distributions and other sources of income minus certain deductions, such as student loan interest, alimony payments and retirement contributions.) The amount phases out at a rate of $50 for every $1,000 of annual income beyond $75,000 for an individual and beyond $150,000 for a married couple. The benefit is fully refundable, meaning it does not depend on the recipient’s current tax burden. Qualifying families receive the full amount, regardless of what they owe in taxes. There is no limit to the number of dependents that can be claimed. For example, suppose a married couple has a three-year-old child and a seven-year-old child and showed an annual joint income of $120,000 on their 2020 taxes. The IRS is sending them $550 per month. That’s $300 per month ($3,600 / 12) for the younger child and $250 per month ($3,000 / 12) for the older child. Those payments will last through December. The couple would then receive the $3,300 balance — $1,800 ($300 X 6) for the younger child and $1,500 ($250 X 6) for the older child — as part of their 2021 tax refund. Parents of a child who ages out of an age bracket are paid the lesser amount. That means if a five-year-old turns six in 2021, the parents will receive a total credit of $3,000 for the year, not $3,600. Likewise, if a 17-year-old turns 18 in 2021, the parents are receiving $500, not $3,000. An income increase in 2021 to an amount above the $75,000 ($150,000) threshold could lower a household’s Child Tax Credit. The IRS has confirmed that they’ll soon allow claimants to adjust their income and custodial information online, thus lowering their payments. Failure to do so could increase one’s tax bill or reduce one’s tax refund once 2021 taxes are filed. Eligibility requires that the dependent be a part of the household for at least half of the year and be at least half supported by the taxpayer. A taxpayer who makes above $95,000 ($170,000) — where the Credit phases out entirely — will not be eligible for the expanded credit. But they can still claim the existing $2,000 credit per child. Eligible families should have received a qualifying letter in the first half of June. It read, in part, “If you’re eligible for advance CTC payments and want to receive these payments, you don’t need to take any action. You will receive a letter with more details.” That second letter estimating the amount should have arrived earlier this week. The IRS has three different tools to help recipients and potential recipients update their information on file, register and check eligibility. The Child Tax Credit Update Portal allows users to make sure they are registered to receive advance payments. It also lets recipients unenroll from advance payments in favor of a one-time credit when filing their 2021 taxes. The next deadline is August 2. (Subsequent opt-out deadlines for future payments will occur three days before the first Thursday of the month from which a person is opting out.) Here are the remaining opt-out deadlines: The tool also allows users to add or modify bank account information for direct deposit. Other features coming to the portal include viewing payment history and updating dependents. To access this portal, users need an IRS username or an ID.me account. ID.me is a sign-in service used by various government agencies, including the IRS, Social Security Administration and Treasury Department, to authenticate users. Users need valid photo identification to create an account. The Child Tax Credit Non-Filer Sign-Up Tool is to help parents of children born before 2021 who don’t typically file taxes but qualify for advance Child Tax Credit payments. That means parents who have not filed their 2020 taxes, are not required to file, and don’t plan to file. (Parents who claimed their dependents on their 2019 tax return should not use this tool.) Users enter their personal information, including their name, mailing address, email address, date of birth, relevant social security numbers, bank account information, and identity protection PIN. The IRS uses the information to check eligibility and, once confirmed, will begin making payments. The IRS and experts advise using the tool on a desktop or laptop computer rather than a mobile device. The Child Tax Credit Eligibility Assistant lets parents check if they are eligible to receive advance Child Tax Credit payments. Users will need a copy of their 2020 tax return or, barring that, their 2019 tax return. It’s also fine to estimate income and expenses from the appropriate tax year, though the result may not be accurate. The assistant asks multiple questions to determine eligibility, but does not ask for sensitive information. No entries are recorded.
Child Tax Credit: Monthly Payments Already Arriving In Parents’ Bank Accounts
newyork.cbslocal.com
Child Tax Credit: Monthly Payments Already Arriving In Parents’ Bank Accounts
miami.cbslocal.com

 

 17 /102 

0.8
The best deals and sales happening on Amazon right now — save on the Roku Express 4k+ and Razer BlackWidow Keyboard
(1.35/12)

Good Subscriber Account active since When you buy through our links, Insider may earn an affiliate commission. Learn more. Amazon's dynamic pricing strategy can make shopping tricky for the average consumer, but if you know where to look⁠ — and when to act fast⁠ — Prime members can save a ton of money. We've gathered all the best discounts currently available on the retail giant. Below you'll find one-day sales via Amazon's Gold Box promotion, exclusive coupon codes, and, of course, deals ranging from tech, fashion, and gaming all the way to home goods. Due to the unpredictable nature of online shopping, prices may change without warning. For more ways to save, check out our round-up of the best sales going on right now. Read more about how the Insider Reviews team evaluates deals and why you should trust us.
You can get 3 months of Apple TV Plus for free when you buy a new iPhone, iPad, Mac, or Apple TV
businessinsider.com
'Ted Lasso' returns for a second season this Friday — here's how to watch the Emmy-nominated series on Apple TV Plus
businessinsider.com
Here’s Everything You Need To Know About The Nordstrom Anniversary Sale (Including What To Buy)
forbes.com
Everlane is having a huge summer sale right now, and we hand-picked the best deals
businessinsider.com
Infrastructure plan's big winners on Wall Street
businessinsider.com

 

 18 /102 

0.1
Invesco QQQ Trust Ranked Among This Week’s Top Buy ETFs
(1.26/12)

Markets were sharply in the red this morning, continuing Friday’s trend, as a worrying rise in Covid-19 cases from the Delta variant caused investors to hit the sell button. Risk-off appears to be here after an extremely impressive run in markets over the last couple of years. To be clear, a correction is not out of the question, but that does not mean the longer-term setup is not positive for stocks, it is merely an expression of what risk is. The 10-year Treasury yield dropping to about 1.2% is a new 5-month low, and if that’s the return option for the next 10 years on savings, you would be smart to have exposure to other assets given how high inflation has been lately. One thing you might do is lower your overall risk by buying diversified ETFs, and this week’s Top Buy ETFs are here to find a way to gain exposure to certain sectors of the market. Q.ai ’s deep learning algorithms have identified several to look out for this week based on their fund flows over the last 90-days,30-days, and 7-days. Sign up for the free Forbes AI Investor newsletter here to join an exclusive AI investing community and get premium investing ideas before markets open. The Invesco QQQ Trust is our first Top Buy this week. The Nasdaq has hit an all-time high last week and our AI-systems finds that QQQ is one of the better buys this week. The ETF is one of the largest with $164,136,811,474.50 AUM. It has seen positive fund flows, with a 90-day fund flow of $3,896,162,401.00, a 30-day fund flow of $7,546,925,738.00, and a 1-week fund flow of $714,954,769.00. This ETF has a reasonable but elevated net expense ratio of 0.20%. The Vanguard Growth ETF is our next Top Buy on the list this week. This ETF aims to give investors exposure to the CRSP US Large Cap Growth Index, which provides a convenient way to match the performance of many of the nation’s largest growth stocks. This ETF carries an AUM of $73,465,594,499.10. The ETF has seen mixed flows in recent months, with a 90-day fund flow of $1,933,991,710.99, a 30-day fund flow of -$2,586,503,358.32, and a 1-week fund flow of $164,613,935.55. With a net expense ratio of 0.04%, this ETF is one of the cheapest out there. Our next Top Buy for our weekly ETFs is the Vanguard Total Stock Market ETF. This is the largest ETF on our list with AUM of $234,272,783,020.77 and covers the total stock market in the US. It has seen positive fund flows lately, with a 90-day fund flow of $10,288,103,868.79, a 30-day fund flow of $1,667,393,348.79, and 1-week fund flow of $680,331,312.29. Its net expense ratio of 0.03% is extremely attractive and the cheapest by a hair on our list today as well. One of the most common ETFs used is up next in the SPDR S&P 500 ETF Trust. The ETF carries an AUM of a massive $357,840,044,986.53. It has seen mixed fund flows recently, with a 90-day fund flow of $990,092,442.65, a 30-day fund flows of $6,138,591,752.05, and a 1-week fund flow of -$3,439,095,956.15. The ETF has a relatively cheap net expense ratio of 0.094%. The iShares counterpart to the SPY is next up in the iShares S&P 500 ETF. The ETF carries an AUM $273,877,156,749.00. It has seen positive fund flows recently, with a 90-day fund flow of $3,603,608,970.00, a 30-day fund flows of $1,422,244,570.00, and a 1-week fund flow of $437,535,405.00. Its cost is one of the lowest in the business with a net expense ratio of only 0.03% in comparison. Bond ETFs are also on the Top Buy list this week, with the iShares Core U. S. Aggregate Bond ETF up next. This ETF covers the total US bond market to give investors exposure to the overall fixed-income market. The ETF has an AUM of $85,805,140,912.00, and has seen positive fund flows lately. The ETF has a 90-day fund flow of $2,200,285,620.00, a 30-day fund flow of $655,738,110.00, and a 1-week fund flow of $57,729,990.00. Its net expense ratio of 0.05% is very cheap. Another Top Buy this week in our ETFs is the Vanguard Value ETF. This ETF concentrates on tracking the CRSP US Large Cap Value Index, which measures the investment return of large-capitalization value stocks. This is an excellent ETF to play the sector passively and carries an AUM of $74,533,882,248.64, but has seen mixed fund flows recently. The ETF has a 90-day fund flow of $5,230,651,973.42, a 30-day fund flow of -$969,504,376.68, and a 1-week fund flow of $147,317,059.62. Its net expense ratio of 0.04% is attractive for the space. Another Top Buy ETF this week is another bond ETF in the Vanguard Total Bond Market ETF, similar to the iShares holding above. This ETF carries an AUM of $72,294,153,077.30. The ETF has seen positive fund flows with a 90-day fund flow of $5,822,537,000.00, a 30-day fund flow of $1,473,975,000.00, and a 1-week fund flow of $120,706,000.00. The ETF also has an attractive 0.05% net expense ratio, matching the iShares holding. The Vanguard S&P 500 ETF is next on our list of Top ETFs this week, similar to the SPDR S&P 500 ETF and the iShares S&P 500 ETF, the Vanguard holding tracks the S&P 500 index. The ETF runs with an AUM of $215,377,023,543.30. The ETF has seen positive fund flows, with a 90-day fund flow of $11,205,313,837.53, a 30-day fund flow of $5,005,593,628.56, and 1-week fund flow of $1,404,797,602.94. The ETF has a net expense ratio of 0.03%, which is more attractive than most on the list today. The iShares S&P SmallCap 600 ETF is our final Top Buy ETF today. Small caps have been bearing the brunt of the selloff recently, with risk being taken off the table in the most recent selloff. With $68,860,805,533.80 in AUM, the ETF is still sizeable. Its fund flows have been negative with a 90-day fund flow of -$432,667,580.00, a 30-day fund flow of -$989,813,775.00, and 1-week fund flow of -$974,655,925.00. With a net expense ratio of 0.06%, it is relatively inexpensive. Liked what you read? Sign up for our free Forbes AI Investor Newsletter here to get AI driven investing ideas weekly. For a limited time, subscribers can join an exclusive slack group to get these ideas before markets open.
Dow drops 725 points in worst day since October amid COVID-19 fears
upi.com
D R Horton Inc Ranked Among Today’s Top Buys
forbes.com

 

 19 /102 

0.2
Joe Biden Loves Competitive Markets, But. .
(1.06/12)

Believers in the value of free markets can only applaud the sentiment behind President Biden’s latest executive order. It aims to create more competition in business. Most proponents of free markets could agree heartily with the president when he deplored the fact that business formation in the United States has fallen by half since the 1970s. They might agree with his contention that fault lies with large businesses making it harder for small businesses to break into markets — but only in partly, since difficulties facing new businesses come at least as much from government rules, often written in collusion with existing business interests. Matters of blame aside, however, there are practical questions attached to this White House effort, on both issues of effectiveness and, as ever in the case with Washington, of unintended consequences. The order consists of 72 initiatives, creating a “Competition Council” in the White House and enlisting just about every administrative agency in the fight against anti-competitive practices across a multitude of industries. Among other things, the order encourages the Federal Trade Commission (FTC) and the Department of Justice (DoJ) to scrutinize mergers, even some completed in the past and especially those that include dominant players, particularly in the tech industry. The order also asks for special scrutiny on hospital mergers when they “hurt patients.” It further asks the FTC to ban collusion among employers on salaries and benefits and also to ban, or at least limit non-compete employment agreements. The order further charges the FTC to ban unnecessary occupational licensing restrictions and to stop the practices among manufacturers that forbid buyers from using independent repairers. The president presses the Food and Drug Administration (FDA) to allow the over-the-counter sale of hearing aids and to examine the possibility of lowering drug prices through imports from Canada. It charges the Department of Agriculture (DoA) to make it easier for ranchers and farmers to make claims against meatpackers and charges the Department of Transportation (DOT) will make fright haulers more open to competition from each other. It further asks the DOT to force airlines to dispense with fees of which consumers have complained. The order tells the Federal Communications Commission (FCC) to restore the net neutrality rule that held sway during the Obama administration and to limit termination fees imposed by internet providers as well as end deals between providers and landlords to limit the options of tenants. And these are only the big items. In one sense, it seems a strange time for the White House to press this matter now, especially with an executive order. Perhaps it is a response to the recent frenzy of merger and acquisition (M&A) activity as firms seek to reposition themselves for the post-pandemic world. Industry sources record up $700 billion in deals during the second quarter alone, the highest on record. But in another sense, this White House initiative would seem to be chasing a trend that has been gathering momentum for some time already. Thirty-six states plus Washington DC have already filed an anti-trust suit against Google, while the Senate and the House of Representatives have been actively reconsidering anti-trust policy and are likely to advance legislation soon. Perhaps the White House wants to cool M&A activity before any legislation can take effect, or perhaps President Biden just wants to get out ahead of a building trend and maybe steal Congress’ thunder. (That last thought might seem overly cynical, but your correspondent can claim a defense in that he was not born with such suspicions.) At this early stage in the process, there is no telling how this effort will proceed or how much it will change things. Over-the-counter sales of hearing aids will no doubt happen. It already was occurring. have long suffered under expensive anti-competitive Licensing for all sorts of unlikely occupations — beauticians, for example and even hair braiders — have long thwarted working people trying to better their condition, but since most such rules are imposed by the states, federal efforts are not likely to change much except perhaps through a demonstration effect. The irony is that most of this anti-competitive licensing cannot happen without government cooperation. The FTC and the DoJ can, of course, have a big impact on M&A activity. The president’s order singles out “killer acquisitions” in which a larger company, often in tech, acquires a startup that might eventually threaten its business. Even if the FTC, as it has already ordered, reviews the “over permissive” guidelines of the past, there is no telling how effective the measures will be. In any case, they will have a number of unintended consequences. An aggressive move against mergers might discourage what would otherwise have been an economically beneficial union of two firms. Because private firms tend to get much less regulatory scrutiny than public firms, the new tone might convince a firm to remain private even though a public listing would give it the financial wherewithal for an economically beneficial expansion. The reluctance to take firms public might also discourage the help venture capital gives startups, since public sales are the way venture capitalists get a return on their investment. As for the emphasis on hospital mergers, one would think that even under the most permissive rules the authorities would deny an action that would “hurt patients.” The irony here is that the advent of Obamacare was a cause of many of the hospital mergers that Washington now deplores. Questions of effectiveness and unintended consequences hover over other aspects of the White House plan as well. On the matter of importing drugs from Canada, for instance, it will likely face resistance from Ottawa, which in the past has said that it will not cooperate with such a scheme. Canada faces a drug shortage. Its government is also aware that the American pharmaceutical companies give Canada a deal because the higher prices in the United States compensate and any special importation deal might alter the tone of future Ottawa negotiations with drug producers. On a separate healthcare issue, the new rules seek to standardize the options on Obamacare’s National Insurance Marketplace. Though such a move would, as the White House has claimed, make it easier for people to compare plans, it also will unavoidably reduce flexibility. Then there is the effort to limit the amount of information social media platforms can gather. It no doubt would be a positive move for privacy, but since the sale of such information is a primary source of revenues for these firms, the mandated limitations might also induce them to charge a fee for what today is free. The same effect might arise with the White House’s drive to allow independent repairs of equipment. Most of the strictures in this matter are attached to the warranty on the product. If firms were forced to provide one even at the risk of an incompetent repair, they might charge more or refuse to give such warranties. Similarly, an end to non-compete employment agreements misses the fact that they are usually imposed for particularly valuable workers or when a worker shortage exists. The absence of such an option could create a huge employment turnover that disrupts industry efficiency and supply. Fairness might be worth that price, but it is far from apparent that the White House has considered the drawbacks or the less-than-welcome potential outcomes of other new rule making. The list is a long one. There are, after all,72 initiatives in the executive order, as many as there are virgins for jihadis when they go to heaven. Though any emphasis on competition and business formation from Washington or any government authority is as welcome as it is rare, there are always questions of effectiveness and unintended consequences that need attention. Now one can only hope that the agencies implement the effort in ways that minimize collateral damage and aim at effectiveness more than at what sounds good in a public statement.
Republicans' vaccine refusal is about more than just sabotaging Joe Biden
salon.com

 

 20 /102 

2.4
EXPLAINER| How African countries with highest Covid-19 death rates are dealing with the pandemic
(1.04/12)

Africa is experiencing a record surge of Covid-19 cases, with deaths now just one percent shy of the previous peak in January, the World Health Organisation (WHO) has said. With infections showing no sign of slowing down, this peak is expected to be breached. Only five countries account for 83 percent of new deaths recorded in the last week. South Africa is highest among these, but statistics from the Africa Centres for Disease Control show a sharp increase in cases. Here's a look at how the Covid-19 surge is affecting the other four countries devastated by the pandemic. Tunisia Cases: 546 233 Deaths: 17 527 Over the weekend, Tunisia's ministry of defence delivered 35 oxygen cylinders to hospitals around the country. That was not enough to solve the dire oxygen shortage Tunisia is experiencing and on Monday, a military aircraft flew to the French city of Marseille to fill 130 oxygen tanks, news agency Tunis Afrique Presse reported. READ| These five countries account for more than 80% of Africa's almost record Covid-19 infections Uganda Cases: 90 391 Deaths: 2 353 In Uganda, the Delta variant has not only driven record infections, it is also believed to be behind the increased incidents of illness in young people, the WHO said. While Uganda's fatalities are much lower than other countries struggling with Covid-19 surges, the country's health system is already buckling. This is largely why Uganda has instituted one of the strictest lockdowns on the continent. WATCH| Malawi destroys nearly 20 000 expired Covid-19 vaccine doses Uganda is currently in a 42-day lockdown, which includes a curfew from 21:00 to 05:30 and gatherings limited to 20 people. Buses may not travel outside districts, and cars may not have more than three people in them. Businesses that are allowed to operate must do so under strict rules. The rules are strictly enforced by Ugandan police, who have previously been accused of using regulations to enact human rights abuses. As infections continue to rise, the lockdown has also laid bare the country's inequality. Vendors, unable to return home, are forced to sleep in the market, according to a report by agencies. They also have to contend with economic uncertainty, with little support for the informal economy. Namibia Cases: 112 160 Deaths: 2 506 Windhoek's main cemetery is running out of burial space. The sparsely populated country is experiencing such a rise in deaths, the capital's main cemetery, Pionierspark will run out of space by 2024. According to a report in The Namibia newspaper, gravediggers find themselves digging new graves right next to ongoing funerals, in a desperate attempt to keep up with the demand. READ| Covid-19: SA in line to benefit as US lays out plan to share 55 million vaccine doses globally The Namibian health ministry has ramped up its vaccination drive, citing fatigue with current lockdown regulations. The surge in infections has encouraged the population to get vaccinated, but the country's vaccine drive was hampered by slow delivery of vaccines. In some cases, the health ministry was forced to close vaccination sites where doses had run out. Over the weekend though,250 000 Sinopharm doses arrived. It's a boon in a country where just over 31 800 people, or 1.27 percent of the population, are fully vaccinated. Namibia is also expecting 40 800 doses of the AstraZeneca vaccine via the Covax facility, and a donation of 168 000 Johnson & Johnson doses from the United States, via Covax. The Namibian government also procured over 300 000 doses from Johnson & Johnson. Zambia Cases: 185 649 Deaths: 3 084 Zambia is experiencing a third wave of infections that coincides with the run-up to its general election on 12 August. The third wave has been the worst yet, officials said. In June and July, the positivity rate remained above 20 percent. Zambian hospitals are admitting about 150 patients a day, with three quarters of those admitted to hospital needing oxygen therapy, according to Zambia's Ministry of Health. The country remains under lockdown regulations, with weddings and other ceremonies suspended. Schools are closed, church services are limited and those using public transport must adhere to mask-wearing and social distancing. The regulations also ban, "... all physical conferences, workshops and general meetings remain suspended until further notice", according to a government statement. Still, there have been accusations that political parties are flouting regulations. Both the incumbent, President Edgar Lungu of the Patriotic Front and his main rival Hakainde Hichilema of the United Party for National Development have been accused of attracting large crowds. The opposition, however, has accused the ruling part of using Covid-19 regulations as a form of harassment. The News24 Africa Desk is supported by the Hanns Seidel Foundation. The stories produced through the Africa Desk and the opinions and statements that may be contained herein do not reflect those of Hanns Seidel Foundation.
The UK now has the highest daily rate of Covid-19 cases in the world
newstatesman.com

 

 21 /102 

0.8
Portillo’s announces plans to go public
(1.03/12)

Portillo’s, known for its hot dogs and Italian beef sandwiches, wants to sell shares of stock to the public, too. The Oak Brook-based restaurant chain, owned by private-equity firm Berkshire Partners LLC, said Monday it has confidentially submitted a registration statement with the Security and Exchange Commission. No date has been announced for the initial stock offering. The company didn’t reveal the number of shares it will be offering or the price range, although the Wall Street Journal reported Portillo’s is targeting a valuation between $2.5 billion and $3 billion. Portillo’s declined to comment. Morningstar Equity Analyst Sean Dunlop said there is strong investor demand to buy shares of restaurant chains. Krispy Kreme recently went public, and Sweetgreen, Dutch Bros and Torchy’s Tacos have announced plans to go public. “In the case of Portillo’s, this is an opportunity for investors to get access to capital at an attractive valuation,” Dunlop said. “Over the last handful of years, we have seen price-earnings multiples continue to creep up in the sector as we have seen this broader shift towards franchising.” Berkshire Partners will likely keep a large stake in Portillo’s, Dunlop said. Portillo’s was founded in 1963 by Dick Portillo, who sold hot dogs from a stand in Villa Park. Portillo sold the company to Berkshire Partners for nearly $1 billion in 2014. Since then, Portillo’s has grown to about 50 restaurants across Illinois, with others in Arizona, California, Florida, Indiana, Iowa, Michigan, Minnesota and Wisconsin. The company this month announced plans to open its first outlet without a dining room. The pickup-and-delivery location in Joliet will have a three-lane drive-thru.
Rent the Runway confidentially files to go public in US
nypost.com

 

 22 /102 

0.1
In Gift to Rich Tax Cheats, Republicans Strip IRS Funds From Bipartisan Infrastructure Bill
(1.02/12)

Under pressure from well-heeled conservative advocacy organizations and donors, Republican senators have removed funding for IRS enforcement from an emerging bipartisan infrastructure plan, threatening to tank a proposed crackdown on rich tax cheats. "Fully funding the IRS = $1.2 trillion in revenue over 10 years. No wonder Republicans want to protect their rich friends." Rep. Ro Khanna Sen. Rob Portman (R-Ohio), part of the 22-member bipartisan group that's rushing to hash out the details of the infrastructure bill ahead of a key procedural vote this week, confirmed Sunday that the IRS provision has been removed due to right-wing "pushback." Portman also complained that Democratic lawmakers are working to provide the IRS with more funding in their forthcoming reconciliation package, which can pass without Republican support. The scrapped provision would have increased the IRS budget—a frequent target of GOP cuts in recent years—by $40 billion over the next decade to help the agency combat tax dodging, which is depriving the federal government of trillions of dollars in revenue. An analysis released earlier this year by academics and IRS researchers estimated that 36% of unpaid federal income taxes are owed by the top 1%. Due to persistent funding shortages and inadequate staffing, the IRS now audits poor Americans at roughly the same rate as the wealthy, who often use complex strategies to avoid paying taxes. Big businesses are also taking advantage of the depleted IRS; the agency now audits just half of all large company tax returns, allowing corporations to claim unwarranted tax breaks. "The decision to exclude the IRS provision means lawmakers will have to scramble to replace it to complete the infrastructure package before a midweek deadline, and it casts new uncertainty over the talks," the Wall Street Journal reported Sunday. It's unsurprising that Republicans are not enthusiastic about boosting IRS funding, given that their party is responsible for the 20% decline in the agency's budget between 2010 and 2018. "Fully funding the IRS = $1.2 trillion in revenue over 10 years," Rep. Ro Khanna (D-Calif.) tweeted last week. "No wonder Republicans want to protect their rich friends." The decision to strip the proposed IRS funding from the list of pay-fors in the bipartisan infrastructure package came after conservative advocacy organizations pressured Republicans to oppose the provision. As the Washington Post reported earlier this month, a coalition of right-wing groups including the Committee to Unleash Prosperity, FreedomWorks, the Conservative Action Project, and the Leadership Institute warned Republican lawmakers not to "negotiate with the White House unless they agree to 'no additional funding for the Internal Revenue Service.'" "The groups leading the opposition to the IRS budget increase include those that have received funds from major conservative donors, including the Mercer Family Foundation, the Sarah Scaife Foundation, and Donors Trust, a donor-advised fund that gives to conservative and libertarian causes," the Post noted. "One signatory of the letter, Phil Kerpen of American Commitment, worked for five years at Americans for Prosperity, the main political arm of the influential Koch network." Democratic lawmakers are expected to pursue IRS funding in their multitrillion-dollar reconciliation package, but it's not yet clear how much—and their effort could run up against arcane budget reconciliation rules. As part of his original safety net expansion plan, President Joe Biden called for $80 billion in additional IRS funding, a proposal that the White House said would bring in roughly $700 billion in revenue over a decade. Some Democrats, including Khanna, have demanded more. As part of his Stop Corporations and Higher Earners From Avoiding Taxes and Enforce Rules Strictly (CHEATERS) Act, the California Democrat has proposed investing $100 billion in the IRS over ten years. "We know our tax system is broken, and it's long past time we start fixing it," Khanna said earlier this year. Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Senate Drops Expanded IRS Funding From Infrastructure Bill
dailycaller.com

 

 23 /102 

0.1
Fundraiser Looks To Help Save The ‘Stargazer’ Sculpture At Gateway To The Hamptons
(1.01/12)

MANORVILLE, N. Y. (CBSNewYork) – A crowdfunding effort is underway to save an iconic art installation to the Hamptons. The giant deer head known as “Stargazer” has fallen into severe disrepair. As CBS2’s Carolyn Gusoff reports, the man who built it decades ago is offering to build it back stronger. It’s a landmark you can’t miss at the gateway to the Hamptons. A once proud sculpture named Stargazer is showing its age. Storms have torn away its red plywood skin, exposing its steel bones. “I feel pain for the sculpture. We put a lot of effort into it,” said David Morris. Three decades ago, Morris built the 50-foot sculpture with his own hands, designed by his longtime companion, artist Linda Scott. In her memory, he’s on a mission to save it. “It represents coming to the Hamptons,” he said. “They’ve finally reached it. They’ve reached the sun, the beauty, nature.” He’s offering to rebuild it stronger, and waterproof. “I have a relationship with it. I’ve been out here painting it. I’ve been on ladders. I’ve almost killed myself on it,” he said. “This will survive for sure.” The Schlosses of Manhattan donated to the cause. “Everyone compares it to the Statue of Liberty. We come out, we all feel our blood pressure go down,” Eleanor Schloss said. “It’s just a landmark that we love and we would love to see it saved,” one person said. Sitting on a leased patch of a private sod farm because it was too big to safely be installed on a highway, Stargaze has become a fodder of debate for decades. “To me it looks like a deer looking up, but to my children it looks like a chicken,” one person said. Morris explains that Scott wanted it to be abstract, but had in mind a deer with an antler in its mouth gazing toward the stars after outwitting hunters. “Whatever you go for, whatever your talent is, go for it because if you don’t, you never will know and you’ll have a regret,” Morris said. “The Stargazer and the antler represent victory.” Morris’ goal is to raise $100,000, and he believes with volunteers to help, and donated material, the Stargazer can live on, on land the owner has agreed to lease for at least the next 50 years. “She would be delighted,” Morris said. He hopes Linda is gazing down with hope and pride. If you’d like to contribute to the fundraiser, CLICK HERE.
Fundraiser seeks $100K to restore beloved Hamptons ‘Stargazer’ sculpture
pagesix.com

 

 24 /102 

0.1
New Mexico Supreme Court Rules Gas Stations Can Be Liable for Drunk Driving
(1.01/12)

A ruling from the New Mexico Supreme Court makes gas stations liable for drunk drivers if they sell them fuel, a decision that could have far-reaching implications for businesses. The divided court detailed a precent-setting ruling that applies to gasoline merchants and businesses like auto parts stores, tire shops and mechanics. Those merchants could be forbidden from selling products to people who then drive drunk. Only one other state, Tennessee, applies the law in such a way to create a "duty of care for businesses to withhold fuel to drunk drivers due to the dangers associated with driving under the influence. The decision from the court is a response to a request from a federal appeals court to resolve a question of state law concerning the potential liability of a retailer that sold gasoline to a drunk driver in 2011. The driver pulled onto the highway after purchasing gasoline, crossed the center line and crash into an oncoming vehicle, killing one person. Under the legal doctrine of negligent entrustment, the owners of potentially dangerous goods have a responsibility to supply those goods only to someone competent to safely use them. New Mexico courts have recognized in past decisions that the owner of a vehicle who entrusts an intoxicated person to drive it may be liable for injuries caused by the drunken driving. While New Mexico has no law that would prohibit the sale of gasoline to intoxicated drivers, the court's majority wrote that a duty not to sell gasoline to someone who is drunk is consistent with liability for giving that person alcohol or a vehicle. "Gasoline is required to operate most vehicles today. Providing gasoline to an intoxicated driver is like providing car keys to an intoxicated driver," the majority wrote. The court reviewed past legal precedents, statutes and other principles of law in reaching its decision. The majority noted the New Mexico Legislature this year prohibited the sale of hard liquor at convenience store gas stations in one county. State law also holds businesses and others liable for selling or serving alcohol to intoxicated people. In her dissenting opinion, now-retired Justice Barbara Vigil wrote that selling or serving alcohol is regulated and that laws don't warrant extending liability for drunken driving to retail sales of nonalcoholic goods. She noted that "this sea change in the law could have far-reaching consequences for retail businesses"—from auto parts stores and tire shops to mechanics and others who will be left guessing as to whether they are subject to the new duty. Vigil added that it's unclear how much investigation gas stations will have to do to determine whether a person may be intoxicated when trying to refuel a vehicle, particularly when many drivers pay at the pump rather than dealing with a worker inside.
New Mexico Supreme Court rules gas stations are liable for selling fuel to intoxicated people
businessinsider.com

 

 25 /102 

0.4
Want To Boost Profits By 10%? Modify These 3 Things
(1.01/12)

The downside of workplace complexity — daily frustration, red tape, reduced productivity — is no surprise to today’s leaders. But a study from the University of Warwick Business School in the U. K. estimates that complexity is actually robbing the average company of 10% in annual profits. Could simplifying in a few key areas offset the rising cost of complexity for your business? As a CEO and workplace expert, I’ve guided leaders all over the world through the process of simplifying. Unlike the processes that clutter our work lives, simplifying reduces and streamlines with the goal of removing barriers to productivity and profits. The ideas below are immediately actionable and have helped companies like Citibank and Pfizer reap the rewards of simplification. 1. Simplify decision-making across your entire org. The failure to clarify who should make which decisions slows down hiring, product development and time-to-market. By pushing decisions down to the lowest possible level — also known as the principle of subsidiarity — leaders can focus solely on the decisions with the greatest business impact. Start by reviewing the decision-making processes in your organization. Challenge yourself and your colleagues to reduce or eliminate the number of people required to approve, review or sign off on certain decisions. Then, take it to the org: Task each of your direct reports to make two decisions this month that would normally involve your input or approval. By this, I’m talking about minor but incessant questions like “Should I invite Dinesh to the weekly business review meeting?” or “Can I open a job position for regional sales director?” Thirty days from now, gather your team and find out which decisions they made and what other types of decisions they’ll commit to making on their own next month. Once people get used to decision-making, increase the number of monthly choices they’re making to four, eight,10, and eventually 20. At Merck Canada, a group of managers put this concept into practice. They collectively decided to stop making decisions that their direct reports were already authorized to make — with powerful results. Employees who were known to slack off began taking responsibility for their own decisions. Overall, people made smart decisions and reported feeling more ownership over the outcomes. And the managers actually found themselves with several hours of newly freed-up time every month. 2. Hire simplifiers. Unlike complicators who block progress and poison everything in their path, simplifiers default to efficiency and embrace change that leads to better or faster outcomes. Their daily approach to work is free of minutiae or ego, and their efficiency adds tangible value to their organization. As you’re interviewing people, look for examples of the candidates’ approach to simplification in their answers. True simplifiers can easily and passionately explain their philosophy and share stories about a process or task that they proudly streamlined or eliminated. They’re honest about the resistance they faced along the way, and can offer personal, detailed accounts of their experience. Conversely, beware of candidates who generalize or toss around business jargon in lieu of specifics. If you hear language about “minimizing bureaucracy” or “getting rid of red tape” without personal examples, you’re likely interviewing a status-quo complicator. If the only anecdotes they can share are business news stories or second-hand descriptions of simplicity in action, that’s also a red flag. 3. Establish anti-complexity metrics. Connecting goals to metrics is the smartest route to measuring the results of your efforts. To track simplification’s impact on your company’s profits, introduce metrics that relate to areas like hiring, product-development and decision-making. Sample metrics could include: · Decrease in number of approval layers for hiring qualified candidates. · Number of steps/layers removed from our product-development process. · Number of monthly hours saved from distributed decision-making. Before deciding on your goals for each metric, be sure to determine its starting place — your baseline — so you can see how far you’ve come a few months from now. With each metric, calculate where things stand today and where you want them to be. For example, if you currently spend seven hours a month approving, signing off or otherwise reviewing people’s decisions, then 7 is your baseline. Then, customize each goal with an eye on striking a balance between realistic and aspirational. Use these metrics as a guidepost and — a few months or a year from now — as proof of your simplification success. When complexity gets in the way of profits, productivity or people, leaders must be empowered to remove it. Experiment with the three tactics above and adjust according to the outcomes. Establishing anti-complexity habits now is key to bringing your company to a nimbler, more profitable place in 2022.
10 things before the opening bell
markets.businessinsider.com

 

 26 /102 

0.2
What's behind the push for a fourth stimulus check
(1.01/12)

The IRS has issued more than 169 million payments in the third round of direct stimulus aid, with another 2.3 million people last month receiving the $1,400 checks. But some lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends. So far, the federal response to the economic crisis caused by the has delivered $3,200 to each eligible adult: $1,200 under the Coronavirus Aid Relief and Economic Security Act in March 2020; $600 in a December relief measure; and $1,400 under the American Rescue Plan signed in March by President Joe Biden. Despite that financial assistance, millions of Americans remain in financial distress, with about 4 in 10 people saying their income remains below its pre-pandemic levels, according to a survey from financial services firm TransUnion. The pandemic worsened the hardship that many families experienced even before the crisis, with more than 1 in 4 households unable to pay for basics like rent or food in at least one of three years from 2014 to 2016, according to a new analysis of data from the Center on Budget and Policy Priorities. Nationwide, about 14.6 million people are currently receiving some form of jobless assistance. The unemployment rate, far higher than its pre-pandemic level of 3.5%. And while businesses are hiring, there are still nearly 7 million fewer people are on payrolls today than before the pandemic. A quarter of Americans struggled to pay their household expenses in the previous week, according to Census survey data from mid-June. For many people, in short, the latest round of $1,400 checks may not last long — an issue that is on the who continue to struggle with joblessness and a weak labor market. Indeed, more than 2.6 million people have signed a Change.org petition started last year that calls on lawmakers to pass legislation for recurring $2,000 monthly payments. Some lawmakers have picked up the idea. Twenty-one senators — all Democrats — signed a March 30 letter to Mr. Biden in support of recurring stimulus payments, pointing out that the $1,400 payment being distributed by the IRS won't tide people over for long. "Almost 6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months," the senators wrote in the letter. Meanwhile, millions of California residents are in line to get another stimulus check via a new effort from Governor Gavin Newsom. Earlier this month, he signed a $100 billion plan that includes $600 stimulus checks to state residents, with about two-thirds of Californians likely to receive a stimulus payment under the new plan. The letter from the U. S. senators doesn't specify how large are the payments they are seeking, but a separate effort from Democratic lawmakers in January for $2,000 monthly checks until the pandemic ends. Instead, the American Rescue Plan authorized $1,400 for each eligible adult and dependent. Some families received another form of stimulus aid on July 15 when the IRS into bank accounts of parents who qualify for the Child Tax Credit (CTC). Eligible families will receive up to $1,800 in cash through December, with the money parceled out in equal installments over the six months from July through December. The aid is due to the expanded CTC, which is part of President Joe Biden's American Rescue Plan. Families who qualify will receive $300 per month for each child under 6 and $250 for children between 6 to 17 years old. Several families that said the extra money would go toward child care, back-to-school supplies and other essentials. "Many people are going to be surprised when that first check comes in," said Greg Nasif, political director of Humanity Forward, a nonprofit pushing for recurring stimulus payments. "That obviously is going to add to the surge in popularity for the checks." Families may enjoy more of a tax break in coming years, if Mr. Biden's moves forward. Under that plan, the Child Tax Credit's expansion would last through 2025, giving families an additional four years of bigger tax breaks for children. So far, people who have received the three rounds of stimulus payments said they're using most of the funds to pay down debt or sock away the money in savings, according to a recent analysis from the Federal Reserve Bank of New York. That could indicate that people are using the money to whittle down debt they incurred during the pandemic as well as to build up an emergency fund in case of another shock. Still, many people said they planned to spend their stimulus funds on the basics — food and housing costs were cited as the top two uses of the third stimulus check following savings, according to a February poll from Bloomberg/Morning Consult. Almost 7 in 10 Americans who have received, or believe they will soon get, a third payment say it's important for their near-term finances, Bankrate.com said in April. That's down from about 8 in 10 people in March 2020, when the pandemic caused widespread unemployment, but overall the share of people who need additional support remains elevated more than a year later, according to the personal finance firm. About 1 in 3 people said the stimulus aid would help support them for less than one month, the survey found. Millions of Americans were spared hardship due to the three rounds of stimulus payments, researchers have found. But when stimulus has faltered, such as last fall when Congress was deadlocked on another round of aid, hardship increased "markedly" in November and December, according to a May analysis of Census data from the University of Michigan. Some top economists have called for more direct aid to Americans. More than 150 economists, including former Obama administration economist Jason Furman, signed a letter last year that argued for "recurring direct stimulus payments, lasting until the economy recovers." Although the economy is improving, millions of people continue to suffer from reduced income and have not been able to tap government aid programs, Nasif said. Only 4 in 10 jobless workers actually received unemployment aid, according to a March study from economist Eliza Forsythe. Many people never applied for unemployment benefits because they didn't think they were eligible, while others may have given up due to long waits and other issues. "You'll see reports about how the economy is starting to grow, but there are a lot of Americans living paycheck to paycheck, and for a lot of them the government relief programs haven't been able to help," Nasif said. Don't hold your breath, according to Wall Street analysts. "I think it's unlikely at this time," Raymond James analyst Ed Mills told CNBC. One reason is that the Biden administration is focused on advancing its nearly , which would reshape the economy by rebuilding aging schools, roads and airports, as well as investing in projects ranging from affordable housing to broadband. The proposal, which the White House says would be funded by boosting the corporate tax rate from 21% to 28%, may be "tougher to pass" than the relief bill that provided the $1,400 checks to most Americans because of opposition from both Republicans and some Democrats, noted Stifel chief Washington policy strategist Brian Gardner. Even so, only about one-third of Americans believe the American Rescue Plan will help them a lot, according to a poll from Politico-Harvard. That suggests some households feel they need more aid to help get through the next several months. At the same time, the economy is expected to rebound this year thanks to rising COVID-19 vaccination rates and as states start to reopen. JPMorgan Chase CEO Jamie Dimon predicted in his latest annual letter to shareholders that an economic boom. "[W]ith excess savings, new stimulus savings, huge deficit spending, more [quantitative easing by the Federal Reserve], a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U. S. economy will likely boom. This boom could easily run into 2023 because all the spending could extend well into 2023," Dimon wrote in the April 7 letter. That could diminish the rationale for the government offering more direct aid, especially if the jobless rate recovers and more workers come off the sidelines. By year-end, the nation's unemployment rate could fall to 4.3%, according to Oxford Economics. Even so, the path to recovery "remains long" as there are still 4 million workers who have dropped out of the workforce, noted Oxford Economics economists Oren Klachkin and Gregory Daco in a research note. "Looking ahead, the labor market is poised for an impressive run as expanding vaccine distribution, more reopenings and fiscal stimulus drive a hiring surge," they forecast.
Coronavirus Stimulus Check: Why Use Calculators For CTC? - ValueWalk
valuewalk.com

 

 27 /102 

0.1
Homebuyers aren't seeing savings from falling lumber prices – here's why
(1.01/12)

The price of lumber on the future's market has given up all of its gains for this year, falling by more than 50% in just the last few months. Homebuilders, homebuyers and homeowners looking to remodel, however, are not seeing savings yet. Lumber prices hit a record high on May 7, at $1,670.50 per thousand board feet on a closing basis. That was more than six times their coronavirus pandemic low in April of last year. The spike was due to sudden soaring demand and low supply both due to the pandemic. Saw mills closed at the start and did not ramp up production quickly enough to meet the new demand from builders and remodelers. Homebuyers and homeowners alike wanted more space, and that meant more lumber. Now demand for remodeling is falling, as people spend more money on vacations instead. Homebuilders are still seeing strong demand, but they have slowed construction due to high costs. Saw mills have gotten back on line, but many are having issues finding enough labor. Lower lumber prices are a welcome sign but not a reality yet on the retail side. Lumber prices are also still up nearly 100% from the spring of last year. "As the price declines began grabbing headlines, the price of lumber packages quoted to builders held at record highs," wrote David Logan, senior economist at the National Association of Home Builders. "In economics jargon, prices paid by builders—or 'street' prices—were 'sticky.' This dynamic is primarily due to dealers' inventory carrying costs and potentially large differences between the price at which inventory is bought and sold." The price of lumber packages quoted to homebuilders is still at a record high, according to Logan. Retailers of course want to buy their product low and sell high, so they're still selling the inventory they have at higher prices, despite what the futures market says. Also, given soaring demand and supply chain issues, their inventory is low anyway, and there is still demand, so they have no reason to lower prices. But that will change in the coming months. "We are still in a price discovery mode," said Michael Goodman, director of specialty products at Sherwood Lumber, a national wholesaler and distributor in Palmer, Massachusetts. Sherwood buys from mills in North American and Europe and ships directly to its customers. Goodman said they are just now seeing a lot more product come to the market. "Everyone is going to try to hold on as long as they can, but the market is going to find its way. Maybe in the end the price is higher because of inflation, but we are definitely in a housing boom now. That doesn't seem to be going away," said Goodman. While the price of softwood lumber is coming down, the price of other wood products, like oriented strand board (OSB), which is a type of engineered wood product used for panels, is up 325% year over year and 500% from pre-pandemic levels, due to supply chain issues. Steel mill products, used as inputs to steel building materials, jumped in price by about 70% in the first few months of 2021 and have yet to level off. "Builders are contending with shortages of building materials, buildable lots and skilled labor as well as a challenging regulatory environment. This is putting upward pressure on home prices and sidelining many prospective home buyers even as demand remains strong in a low-inventory environment," said Robert Dietz, NAHB's chief economist.
Lumber prices will fall back to pre-pandemic levels within a year amid considerable volatility, investment chief says
markets.businessinsider.com

 

 28 /102 

0.7
The 5 biggest insider stock buys of last week
(1.01/12)

Insider is watching which corporate executives are making big bets on their own companies. Here are the five companies that saw the biggest combined stock purchases from insiders during the period from July 10 through July 16, according to data compiled by Insider Monitor. On July 14, at $14 a piece, California-based investment firm Park West Asset Management purchased 2,142,857 shares of the battery start-up, amounting to $29,999,998. Enovix started trading on the Nasdaq on July 15 after completing its reverse merger with SPAC Rodgers Silicon Valley Acquisition. Launched in 2007, Enovix makes 3D silicon lithium-ion batteries through sampled cells based on innovative architecture. On July 16 at $6 a piece, company director David Bonita purchased 1,666,666 shares, amounting to $9,999,996. Bonita's investment firm where he is managing partner, Orbimed Capital, also bought 1,666,666 shares on the same day for the same price, amounting to $9,999,996. Imara, a clinical-stage biopharmaceutical company, seeks to commercialize new therapies to cure patients suffering from hemoglobin disorders due to inherited genetic changes. On July 16, the company closed its offering announced the pricing of its common stock, which sold at $6 a piece. Colin Moran,10% owner of Cricut - a machine that cuts vinyl, paper, cardstock for hobbyists - went on a three-day buying spree snapping 364,218 shares in total. Moran, a managing member of investment firm Abdiel Capital Management, bought 64,894 shares at $33.93 a piece on July 12, amounting to $2,201,853. The next day, he bought 253,953 shares at $33.86 a piece, totaling $8,599,610. Capping it off, on July 14, he bought 45,371 shares at $33.52, amounting to $1,520,835. Utah-based Cricut went public on March 29, 2021. The company, founded in 1969, offers a line of smart cutting machines and other unique tools. Investment firm Third Point on July 14 purchased 29,289 shares of SentinelOne at $45, amounting to $1,318,005. The next day, Third Point bought another 170,711 shares at $44.88, totaling $7,662,363. Earlier in July, the New York-based Third Point purchased nearly two million shares of the cybersecurity company firm, amounting roughly to $78 million. The artificial intelligence-powered firm on June 30 went public in what was the biggest cybersecurity IPO in history. Investor Aron English went on a five-day buying spree of the Canada-based firm, which designs, manufactures, and installs prefabricated walls that amounted to $7,443,210. English on July 14 purchased 440,298 shares at $4.17 a piece, amounting to $1,836,923. The next day, he purchased 1,202,072 shares at $4.43 a piece, totaling $5,329,987. On July 16, he bought 22,394 shares at $4.50 a piece, amounting to $100,773. On July 18, English 25,593 shares at $3.49, amounting to $89,319. To cap it off, the investor bought 24,000 shares at $3.59 for a total of $86,208. Meanwhile,726 Bc LLC also snapped up shares for three consecutive days. On July 14, it bought 37,500 shares at $4.18 a piece, amounting to $156,750. On July 15,15,200 shares at $4.51 a piece, totaling $68,521, and 7,000 shares at $4.60 a piece, amounting to $32,207 on July 16. Dirtt Environmental Solutions, founded in 2003, trades on the Nasdaq and the Toronto Stock Exchange.
Coca-Cola: A Stock That Rallied More Than 4% In A Week
forbes.com

 

 29 /102 

0.3
I Bonds: Buy I For Inflation
(1.01/12)

Rising inflation has been cause for concern after the most recent June consumer price index reading increased 5.4% from a year earlier. This was the largest jump since August, 2008. Investors therefore are seeking a hedge against inflation as speculation grows that this may be more than transitory. A sector investment into commodities, specifically a commodities exchange traded fund (ETF), is a pointed, tactical approach. Another tactical tool for investors is to purchase government products such as Treasury Inflation-Protected Securities (TIPS) and Series I (Inflation) bonds. Series I bonds are currently paying slightly more than 3.50% in interest (3.54% rate annualized is good through October 31,2021.). This rate exceeds current inflation, which is targeted at 2% by the fed. The interest for Series I bonds is significantly higher than the interest rate for savings accounts and clearly higher than that for online bank savings accounts. The yield on I bonds is also superior to those of TIPS. Series I bonds pay a fixed rate for the life of the bond plus adds an inflation-based rate premium. Consumer Price Index measures inflation and is the component used to determine the inflation-based rate. The inflation-adjusted variable rate is double the semiannual inflation rate. The fixed rate for the Series I bonds resets twice a year. Investors receive the initial investment, or bond’s face value, and the overall rate cannot fall below zero. Therefore, unlike TIPS, Series I bonds will never fall below zero if we experience deflation. Series I bonds also protect against inflation, and they make sense in an elevated inflationary environment. Investors bought ten times the total of I bonds in May when compared to what they bought last year in May 2020. January is usually the peak month for buying Series I bonds. Series I bonds have their limits and drawbacks however. The limit per person, per year to buy I bonds is $10,000, and these bonds are digital only. To purchase, one has to go to TreasuryDirect.gov and set up an electronic TreasuryDirect account. Because no commissions are involved, there are no brokers to go through. One could go over this $10,000 limit and buy an additional $5,000 in I bonds if using an income tax refund, or receiving Series I bonds as payment instead of a tax refund. These additional bonds are paper only. For example, a married couple can purchase a total of $30,000 in Series I bonds, with $20,000 digital and $10,000 paper. Additionally, Series I Bonds are not liquid. The holding period for any Series I bonds is a minimum of 12 months, and you cannot redeem it any earlier. The last three months of Series I bond interest is taxable if you cash out before five full years. To compare, TIPS have a much higher purchase limit and are available on the secondary market. With respect to taxation, the federal government taxes Series I bonds at the federal level but not at the state or local level. Investors owe taxes at the time of Series I bond redemption, unlike TIPS for which investors owe taxes as interest accrues. Series I Bond investors have the option to pay taxes as they accrue. The taxes are potentially fully avoidable if the investor is in a lower tax bracket and is using the proceeds to pay college expenses (tuition and fees only). One can earn interest on I bonds for up to 30 years. One can redeem the Series I bond at 30 years, and all the taxes up to that moment of redemption are tax deferred. Series I Bonds pay interest monthly, and this interest compounds every six months. Keep in mind that with a zero base rate, I bonds would earn less if inflation falls, rates reset, and the Series I bond’s variable rate falls. Owning Series I bonds can be risky because of the minimum 12-month holding period. The influx into Series I bonds occurred recently based on concern about inflation and on anticipation of a rate increase. One scenario is that rates may not change, inflation does not hit 2%, and Series I bond investors have to hold onto their bonds for ten more months if they bought in May. We do not know with certainty where interest rates and inflation will be later this year. The 10-Year Treasury yield peaked in March of this year and his since come down, leaving many wondering how big of a concern inflation really is. While it remains to be seen, it is important to have these tools at your disposal if they become necessary. Always consult a tax or investment professional before making these important decisions.
This investment option can provide protection against inflation
cnbc.com

 

 30 /102 

0.6
The best sales to shop today: Apple, Cricut, Casper and more
(1.01/12)

Today, you’ll find a deal on our pick for best humidifier for large spaces, a discount on AirPods Pro and savings on Anker charging accessories. All that and more below. Our — and really, everyone’s — favorite true wireless earbuds are back down to a great price at Amazon. Right now you can score your very own pair of AirPods Pro — complete with wireless charging case, active noise cancellation, transparency mode, adaptive EQ and all the other features you know and love — for just $189.99. Rest assured, the buds have been sanitized and tested to be in full working condition. Just be sure to shop before they sell out. Crafters, rejoice! The cult-favorite Cricut Explore Air 2 cutting machine is back down to its lowest price ever of $169. This handy tool makes all your projects a breeze with the ability to cut more than 100 different types of materials including vinyl, cardstock, faux leather, adhesive foils, specialty paper, poster board and more. Plus, it comes with a Cricut Premium Fine Point Blade and Housing, a Cricut 12-inch-by-12-inch Light Grip Adhesive Cutting Mat, a Cricut Black Fine Point Pen, access to Cricut’s design software Design Space and a two-week free trial of Cricut Access. Don’t sleep on your chance to snag a free gift from Casper. Right now, when you buy a Wave or Nova mattress from the brand, you’ll get two Original Casper pillows and a mattress protector for no additional cost with code FREEGIFT. Just be sure to shop soon; the savings will say good night for good by July 26. If dry air has been known to do a number on your skin, consider picking up our pick for best humidifier for large spaces, now down to $41.20 — less than $1 away from its lowest price ever. The Vicks Ultrasonic Humidifier Cool Mist Humidifier has a 1.5 gallon tank to ensure over 20 hours of 35% humidity. We were impressed by its performance in a space that was over 500 square feet, so it’s likely perfect for most bedrooms or home offices. Not to mention, it’s ultra quiet so as not to disturb your sleep or day-to-day activities. Anker is a name you should know when it comes to affordable charging accessories, and for one day only at Amazon, a slew of them are significantly marked down. Pick up a new portable charger, charging pad, cables and more, all at incredibly affordable prices. Best Buy Now’s the right time to stock up on discounted tech: Best Buy’s Outlet Event is on. Through Aug.1, you can save on clearance and open-box items, including appliances, TVs, laptops and more, not to mention a selection of marked-down refurbs. If you opt for an open-box product, Best Buy will list the condition so you know exactly what you’re getting. Plus, most items come with Best Buy’s warranty and the retailer’s Return and Exchange Promise. ————————————————————————————————————————————————————————————— Athleta Whether you’re looking for activewear to sport during winter workouts or athleisure to wear during the rest of your day, you can find quality pieces from Athleta. And now all sale items on the site are up to 60% off for the brand’s Semi Annual Sale, no code needed. It’s all the motivation you need to stock up on leggings, sports bras, sweatshirts and more — including a pack of face masks. ————————————————————————————————————————————————————————————— Sur La Table Spending more time at home over the last year has meant plenty of time to refine your culinary skill set and perfect your favorite recipes, so if you’re looking for the necessary cooking implements, head over to Sur La Table. Right now the retailer is offering discounts on a range of items like up to 50% off outdoor dining items, La Marque 84 Stoneware Bakers for 75% off, $112 off Limited Edition MLB Le Creuset Dutch Ovens,30% off the Oceana Dinnerware Collection and more. ————————————————————————————————————————————————————————————— The Home Depot Summer sales are still ongoing at The Home Depot. At the mega home retailer’s Summertime Savings Event, shoppers can save big on a range of home items, including interior furniture, bedding, cookware, decor and more. And, if you use the promo code SUMMERTIME10 at checkout, you’ll get an extra 10% off already marked-down items. ————————————————————————————————————————————————————————————— Whether you’re getting ready for your next outdoor adventure or simply want to stock up on new gear, Marmot has you covered. Right now the brand is offering 30% to 60% off a variety of items for its End of Season Sale. Eco jackets, haulers, winter coats and more are all included in the sale, so take this opportunity to upgrade the quality of your adventure gear at a reasonable price. ————————————————————————————————————————————————————————————— Apple’s AirPods Max made quite a splash when they hit the headphones scene at the end of 2020. And while we acknowledged that the luxury they deliver comes at quite a high price in our full review, they’re seeing their biggest discount ever on Amazon right now. AirPods Max are down to $472.81 in every color — about $75 off their usual price. If that’s enough of a deal to convince you to buy, be sure to act fast; there’s no telling how long this discount will last. ————————————————————————————————————————————————————————————— What’s better than savings on sustainably made products? A pound of trash getting removed from oceans and waterways for every product you buy. That’s exactly what United By Blue does, and now you’ll find discounts of up to 60% off sitewide at the brand’s End of Season sale. Pick up apparel that’s perfect for heading outdoors, plus all the accessories you need for camping, hiking and more. Don’t forget to use code EXTRA40 to take an extra 40% off sale items too. ————————————————————————————————————————————————————————————— Whether you’re headed out on the trail or getting ready to lounge on the shore, Yeti’s Camino Carryall is equipped to help you bring along everything you need, and now Yeti is clearing out its stock of the bag to make way for new inventory — that’s good news for you, since you can capitalize on a 25% discount, bringing the price of this feature-packed tote down to just $112.49. Its outer shell is puncture- and abrasion-resistant, while its bottom is made to keep water out and the bag upright. Plus, it’s incredibly easy to clean. ————————————————————————————————————————————————————————————— Petco Spoil your furry friend and save all the while with Petco’s latest sale event, which is marking down select items for all types of pets for up to 50% off. Pet tech, such as automatic feeders, cameras and trackers, is currently up to 30% off, with select adorable dog toys and cat furniture up to 50% off. If you opt for repeat delivery on eligible brands, you can also get 40% off on your first delivery, then 10% off your second and third. The sale lasts until July 24, with some promotions ending early, so be sure to stock up on pet essentials soon. ————————————————————————————————————————————————————————————— Madewell Your new summer wardrobe is within reach, thanks to Madewell’s Secret Stock Sale. For just one more day, you can take up to 60% off sale styles with code PSST. It’s your chance to save on everything from the brand’s signature denim to sandals and warm-weather tops. Just be sure to add your favorites to cart soon. ————————————————————————————————————————————————————————————— Allswell You’ll sleep soundly knowing you saved big on mattresses, bedding and decor at Allswell’s latest sitewide sale. Use code STAYCATION to take 10% off a range of blankets, pillows, duvets, sheets and more, many of which come in contemporary patterns that will boost the look of your space as well as your comfort level at bedtime. Not to mention, the brand makes a range of hybrid mattresses that are sure to give you sweet dreams this summer. ————————————————————————————————————————————————————————————— Bissell isn’t just a top brand when it comes to vacuums. In fact, another great Bissell cleaner — the PowerFresh Steam Mop — is now on sale for $59, down from $99, at Walmart. Clean and sanitize your floors simultaneously with the flip-down Easy Scrubber that gets into all the nooks and crannies of hardwood or tiled floors with ease. The PowerFresh also comes with scent discs so your floors smell as clean as they look. ————————————————————————————————————————————————————————————— Reebok You can never have too many sneakers or accessories, so why not add to your collection now that Reebok is having a sitewide summer sale? Right now you can get 40% off all items, plus an additional 50% off sales items when you use the code SIZZLINSUMMER. Sandals, training shoes and sports apparel are all on offer, with free shipping on orders over $49. ————————————————————————————————————————————————————————————— Dagne Dover We’re huge fans of Dagne Dover — especially the travel bags and toiletry organizers — which is why we’re taking note of the brand’s summer refresh sale. Bestselling neoprene backpacks, totes, lunch boxes, organizers and laptop bags are now an extra 25% off when you use the code REFRESH at checkout. We don’t see sales on Dagne Dover that are this substantial that often, so take advantage before items are all gone. ————————————————————————————————————————————————————————————— Ruggable Ruggable’s machine-washable rugs are the pinnacle of style and convenience, and starting today you can outfit your entire home in the brand, thanks to this deal on rug bundles. At the Fan Fave Rug Bundle Sale, take up to 30% off bundled styles; specifically, when you buy one rug system (a Rug Cover and Rug Pad), you’ll get a second Rug Cover for up to 30% off. There’s everything from contemporary styles to traditional looks up for grabs — even a few doormats are marked down.————————————————————————————————————————————————————————————— Under Armour Under Armour is here to help with the heat of summer workouts now that its Semi Annual Sale has started. Going on through July 20, the brand is offering up to 50% plus an additional 25% off with the code JULY25 on sports apparel, shoes and accessories for men, women and kids. Adult running sneakers are now as low as $54.99, with specialty shoes like baseball or football cleats also on offer. You can even find the UA Sportsmask, known for its breathable, waterproof fabric, for the record-low price of $10. Free shipping is offered on orders over $60, so start shopping now before items run out. ————————————————————————————————————————————————————————————— When it comes to outdoor fire pits, you can’t beat the quality of Solo Stove, and right now the brand is offering some extra savings on the fan-favorite Bonfire to help you get those marshmallows roasting. For $254.99, originally $349.99, plus free shipping and returns, you can get this smokeless portable fire pit with a 360-degree Airflow Design made to ensure even heating. The Bonfire is made from stainless steel for added durability and requires minimal cleanup when you’re done using it. For more great deals, check out CNN Coupons.
July Cricut Explore Air 2 Sale: $80 Off Right Now
heavy.com

 

 31 /102 

0.7
TRENDING ON TOWNHALL MEDIA
(0.99/12)

A little later today in Washington, D. C., there’s going to be a scene playing out in the U. S. District Court for the District of Columbia that’s being described as a “benchmark” for the hundreds of other trials of individuals charged in the January 6th riot on Capitol Hill. U. S. District Judge Randolph Moss will be sentencing Paul Allard Hodgkins of Florida for his role in the attack. Hodgkins pleaded guilty to a single count of obstructing an official proceeding in June, and the sentence he receives today will be seen as a clue as to what the other participants can expect if they enter similar pleas. The prosecution is asking for 18 months behind bars. (The maximum sentence for this crime is 20 years.) But his attorney is asking for probation without jail time. As with most plea bargains, don’t be surprised if the final sentence falls somewhere in between. (Associated Press) Hodgkins’ attorney is arguing that his client will already be punished with a lifetime of shame and being “branded with a scarlet letter” for his involvement in the riot. Prosecutors counter that the defendant boarded a bus in Florida “carrying rope, protective goggles and latex gloves.” This, they say, speaks to intent and proves that he headed to the Trump rally “prepared for violence.” It’s the lack of serious involvement by Hodgkins that makes this case the benchmark to watch. He had no priors and is not accused of committing property damage or assaulting anyone. The basis for charging him with this felony rests entirely on the fact that he stepped onto the Senate chamber floor. (He also posed for a selfie there with the Qanon Shaman.) Others who remained off of the chamber floor have already pleaded guilty to misdemeanors and been sentenced to probation. If they can put Hodgkins behind bars, even for a year, then you can bet we’ll see prosecutors asking for much longer sentences for any participants who stand accused of property crimes or assault. But if the judge accepts the defense’s claims that this was a “momentary lapse of judgment” and a case of “following the crowd” and lets him off with probation, the hundreds of other defendants will likely be fighting for plea deals with similarly lenient sentences. In some ways, Hodgkins has become something of a victim himself here, by being pushed into the spotlight as a test case. (Not that he shouldn’t face justice for the crime he has already pleaded guilty to.) Democrats who describe the riot as an “insurrection” and some sort of treasonous attempt to overthrow the government will be looking for the stiffest sentence possible, while Republicans who have played down the seriousness of the incident will be hoping for leniency. Those arguments are still being mirrored in the mainstream media every day. And let’s not pretend that the courts aren’t sensitive to that sort of public pressure.
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com
TRENDING ON TOWNHALL MEDIA
hotair.com

 

 32 /102 

0.0
Investor Confidence In The UK Takes A Knock - ValueWalk
(0.25/12)

Investor confidence in the UK takes a knock despite ‘Freedom Day’ as infection rates soar. [soros] Q2 2021 hedge fund letters, conferences and more “Far from bringing an added dose of confidence to investors, ‘Freedom Day’ appears to be a setback. Investors’ confidence in the UK has dropped by 5% in July, when compared to June, a steeper fall than the 2% registered on average for regions around the globe. The sharply rising Covid infection rates across the UK, and concerns about fresh easing of restrictions, is likely to be behind the drop, which is identified in the HL monthly investor confidence survey*. Worries are mounting about what the lifting of social distancing rules will mean for economic recovery, if the virus spreads more rapidly. Already many industries from hospitality to manufacturing are struggling to cope with high levels of absence as staff are pinged by the test and trace app, leading to the closure of some venues and a drop in output. The confusion surrounding quarantine and testing rules for international travel is also leading to fresh uncertainty about the prospects for the aviation and tourism industries, which have been struggling through the worst crisis in their history. The lack of warning about the need for travellers from France to isolate for ten days from today, has thrown holiday plans into fresh mass chaos, with hopes of a boost to summer bookings evaporating. Amidst concerns that infection rates could derail the recovery are worries about inflation heating up and the knock on effect of rising interest rates.65% of investors believe interest rates will be higher in a year’s time compared to 60% last month. That is the highest level since January 2019. More than a quarter (26%) now believe they could be higher in six months, compared to 24% in June 2021. Economies have been re-opening with an energy that once seemed unlikely in the depths of the pandemic, which is pushing up inflation. In addition the recession left supply chains broken around the world, leading to some shortages. Companies have also slashed investment during the crisis, so the ability to increase production is limited, which has the effect of pushing up prices even further. Central banks are largely still talking as a team, stressing that these effects are transitory, kicking the ball of monetary easing down the pitch. But it’s clear investors, watching from the side lines, are increasingly nervous that price rises are likely to linger for longer. More fear that a swifter rolling back of mass stimulus programmes and the spectre of rising interest rates could dampen economic growth and asset valuations.” *The investor confidence index is compiled by surveying clients on a monthly basis. Each month we send the investors’ confidence survey to 6,000 random clients and there is a representative split of our clients by age. On average 10% of clients respond (around 600 clients). Clients are asked to say how likely they are to invest in a certain sector over time frames of 6 months,1 year and 3 years, by selecting Very Likely, Neither Nor, Unlikely or Very Unlikely. HL Investor Confidence Survey Hl Investor Confidence Survey July 2021 HL Investor Confidence Survey July 2021 Do you think interest rates in the UK will be higher than they are today? Data from the HL Investor Confidence Survey Article by Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown About Hargreaves Lansdown Over 1.6 million clients trust us with £132.9 billion (as at 30 April 2021), making us the UK’s largest digital wealth management service. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month.
McIntyre 2Q21: Garrett Motion Is A Big Bet Investment - ValueWalk
valuewalk.com
Blue Tower Asset Management 2Q21 Commentary - ValueWalk
valuewalk.com
Growth Versus Value? It Looks Like Both Are Right - ValueWalk
valuewalk.com
Zoom Buys Cloud Company Five9 For $14.7 Billion - ValueWalk
valuewalk.com

 

 33 /102 

0.4
Premium valuations for specialty chemicals to sustain on multiple tailwinds
(0.21/12)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard. Digital Editor
Board of IndusInd Bank to consider fund raising options
business-standard.com
Anjani Finance consolidated net profit rises 25.00% in the June 2021 quarter
business-standard.com

 

 34 /102 

0.6
With prices of used vehicles soaring, now is the best time to sell your car — if you have one you don't need
(0.07/12)

Good Subscriber Account active since The used-vehicle market is unusually hot this summer, and it's spelling profits for some car owners. Prices for used car and trucks increased 10.5% in June, the highest of any consumer spending category, and some models are going for higher prices now than they sold for new a year ago. A lack of supply and a lot of demand is causing prices to soar to new records. Average used-vehicle prices topped $22,500 at the start of May, and are just beginning to start ticking back down. "If you have a car to sell, there's never been a better time," said Pat Ryan, the CEO of CoPilot, a personalized car-shopping service. "Dealers will pay incredible prices." Read more: When I first became a millionaire I bought fancy cars and watches. Now I'm much more thoughtful in my purchases — here's how I spend my money. When Silverado owner Franko Dokaj went to buy new floormats from his dealer, he was offered $3,000 more for his year-old pickup than he originally paid for it, the Wall Street Journal reported. One dealer told the Journal he used to run TV ads showing the sale price of new cars. Now his ads tell potential customers how much their trade-ins are worth. Of course, there are a few caveats to consider before rushing off to find a buyer, namely whether you need to replace the car, or if you're trading it in for a new one. Toby Russell, a co-CEO of the used-vehicle marketplace Shift, previously told Forbes that his company was paying 25% more for vehicles than it did at the start of the year. "Normally we would lose a little money on that, but we're making money on these because auction pricing is so intense and high," he said. "It's just a total dislocation in the market." Ordinarily a year-old trade-in would lose as much as a quarter of its value, but some in-demand trucks and SUVs are being traded back to dealers for more than last-year's purchase price, a CNN analysis of Edmunds.com data found. A year-old Dodge Ram 2500 is now worth about $5,200 more than it cost new last year, while a Ford F-250 is worth $3,300 more, CNN found. Other popular models, like Jeep Wranglers and Honda Civics, lost some value, but only a fraction of what normally gets carved off when you drive off the lot. Most used inventory comes from off-lease models or former rentals, but the pandemic disrupted that flow and in some cases caused it to reverse. When the chip crisis cut the supply of new cars, automakers curbed their fleet sales, forcing rental companies to buy used cars instead. Ryan said he doesn't see an end in sight for the lack of supply, which is down roughly 90 percent from normal for price-points below $20,000 — an issue he speculates could be related to buyers using government stimulus money. "It's not clear where the supply comes from, because there's no used car factory you can ramp up and start producing," he said. "The market could be like this for quite a while." So, if you have a car to sell or trade-in, Ryan recommends contacting several dealers to get a few bids. It's not quick or easy, but it could be highly rewarding. "We regularly see people who went to go offer their car online, and then they called another dealer and found there were $4,000 or $5,000 differences that were people were offering," he said. If you're considering a trade-in, Ryan suggested that you would get the most bang for your buck swapping an in-demand crossover SUV or pickup truck for a higher-end sedan or compact from a maker that has been less affected by the chip shortage. "Dealers are thirsting for inventory, there's no question about it," he said.
Infrastructure plan's big winners on Wall Street
businessinsider.com

 

 35 /102 

0.1
What to know about speculation: When investors buy high-risk assets with the expectation of significant returns
(0.07/12)

Good Subscriber Account active since The bulk of investing advice, especially for those interested in retirement centers, are around slow and consistent gains over decades. But not every investor is content with the prospect of patient long-term gains. Some would rather aim for the home run trade — a move that could change their fortunes overnight. This is known as speculation and it doesn't come without significant risk. Speculation is the act of buying or selling assets that have an increased chance of significant losses. As speculative investors take on more risk, there's an expectation to achieve extraordinary returns which — in the mind of speculators — is compensation for the outsized risk. Speculative investors tend to be active traders. This means that they're attempting to beat the market average and have more of a hands-on approach, especially during short-term swings in the market. This is a stark contrast to more passive, buy-and-hold investors who generally have more of a hand-off approach and do not adjust their investments as often. The decision-making process for speculative investors can vary wildly in terms of sophistication. Some speculators base their investing decisions on social media groups and memes. This was, and still is, the primary driver behind the surge in stock price for companies like GameStop and AMC Theaters. Both companies were mired in financial trouble and at different points rumoured to file for bankruptcy prior to 2021. Another example is Dogecoin, a cryptocurrency that saw massive spikes earlier this year when celebrities like Mark Cuban and Elon Musk discussed it on Twitter. After Elon Musk's Saturday Night Live appearance on May 8, 2021, Dogecoin fell more than 30%. A series of Musk's tweets were also blamed for the volatility in Bitcoin when Tesla announced it would take Bitcoin as a form of payment in February — only to reverse that decision in May and deciding again that the company will accept Bitcoin in June. In April, the price of Bitcoin was slightly above $65,300 which is significantly more than the current price of Bitcoin at $33,600 at the time of writing. Other speculators base their decision on a "hunch" or market volatility, says Sabina Smailhodzic Lewis, CFP® and co-owner at Avant-Garde Wealth. "They're looking for pieces of information that scream potential to them and risk to everyone else," she added. Nearly every market has a speculative corner, but in today's investing environment, cryptocurrencies followed by NFTs (non-fungible tokens) are likely the most speculative. Speculation works when an investor has a strong worldview or prediction about an industry. Next, they typically identify a catalyst or event likely to spark a significant movement toward their initial prediction. If a speculator feels that the event is likely, they'll buy assets they believe will benefit them most if their prediction comes to fruition. An example might be the 2020 election cycle. At the time, many believed that if then-former Vice President Joe Biden won the presidency, that cannabis would be legalized on a federal level. Thus, companies like Tilray (TLRY), Canopy Growth Corporation (CGC) and Aurora Cannabis (ACB) were ground zero for speculators. Speculation is common among penny stocks and over-the-counter (OTC) investments. Companies that trade on OTC markets are not listed on formal exchanges like the New York Stock Exchange (NYSE) or the NASDAQ. These investments tend to be inexpensive — usually less than $5 per share — but are highly risky because of the lack of oversight and their generally shaky financial histories. In March 2020, the rental car company Hertz was trading as low as $0.41 cents and was delisted from the NYSE just days before the company filed for Chapter 11 bankruptcy. Hertz then began trading on the OTC markets under the ticker symbol HTZGQ. Due to speculators betting on the company, Hertz stock price soared more than 1,100% within just two weeks during the summer of 2020. Foreign exchange (forex) is a highly speculative market in which investors trade currencies like the US dollar, Japanese Yen, and British Pound without a centralized exchange. The objective for Forex traders is to take advantage of short-term price movements between currencies. Forex, for individual investors, relies heavily on margin and leverage. The Commodity Futures Trading Commission (CFTC), the federal agency that regulates forex, requires a minimum of 2% deposit for trading, which means that $1,000 in a Forex account can invest up to $50,000, translating to a 50:1 ratio. If the investment moves in a positive direction, an investor can profit quickly — but if the market moves unexpectedly, a small $1,000 investment could result in thousands of dollars in debt. In the bond market, the line between investing and speculation is defined by bond rating agencies like Moody's, Standard and Poor's, and Fitch. Bonds that are considered strong, with a high likelihood that investors will receive their interest payments and principal, are known as "investment grade." Bonds with the lowest ratings are considered "speculative" and are sometimes called "junk bonds." Speculative grade bonds, however, often pay a higher interest rate to investors as compensation for the increased risk. In some circles, the terms speculation and investment are used interchangeably. But, practically, there are some key differences in the level of risk and the types of financial instruments used between investors and speculators. "Someone who might be more speculative is typically higher net worth or they have more knowledge about a particular market or industry," said Tremaine Wills, a financial planner at Mind Over Money in Newport News, VA. That specialized knowledge and higher disposable income can result in a higher tolerance for risk than the average person she added. Speculation is not for the faint of heart. While the allure for big-time gains are present, it may be wise to consult a financial planner to ensure that you are not taking on more than you can handle. Also consider taking a risk tolerance questionnaire to help prepare and understand how you may react to losses. Finally, make sure that you have a plan in place to address your immediate, short-term and long-term financial goals and keep them separate from any speculative moves you may have in mind.
Infrastructure plan's big winners on Wall Street
businessinsider.com

 

 36 /102 

0.4
This Nespresso VertuoPlus coffee maker is better than a Keurig—and it's on sale right now
(0.06/12)

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. If you’re serious about your morning cup of joe, you already know that not just any old coffee maker will do. For those looking for an elevated coffee experience at a wallet-friendly price, you can’t beat our favorite single-serve coffee maker —the Nespresso VertuoPlus by Breville —and right now, you can get it for a steal. Get expert shopping advice delivered to your phone. Sign up for text message alerts from the deal-hunting nerds at Reviewed. The Nespresso VertuoPlus by Breville normally goes for $179.95, but you can get it at Walmart for $158.21. According to our cooking experts, this model beat out even the Keurig in our tests for the best coffee maker around. We ranked our testing unit as our top pick for the compact size that made it easy to keep on the counter, fast brewing time and customizable options, which allowed us to craft our perfect cup of delicious, crema-topped java for a truly "luxurious" experience. This model also offer an option of five cup sizes, ranging from espresso to a 14-ounce mug of coffee. In short? This machine will have you wondering how you got through harried mornings without it—something nearly 2,000 happy Amazon shoppers seem to concur with, based on its stellar rating. Walmart is also offering a deal on the super-similar Nespresso by De'Longhi VertuoPlus coffee and espresso maker, which you can pick up for $149. (While it's not marked as a sale price at Walmart, the same machine is currently listed at Amazon for $194.81.) According to our cooking experts, this De'Longhi model brews exactly the same as the Breville model, just with a few aesthetic differences, like the De'Longhi's flat top versus the Breville's round one, and a slightly smaller water tank capacity. There's no telling when these deals might end, and these models have been selling out quickly at these sale prices, so this is definitely one sale you won't want to skip. Trust us—you'll be thanking us when you're sipping delicious brews each and every morning Need help finding products? Sign up for our weekly newsletter. It’s free and you can unsubscribe at any time. The product experts at Reviewed have all your shopping needs covered. Follow Reviewed on Facebook, Twitter, and Instagram for the latest deals, reviews, and more. Prices were accurate at the time this article was published but may change over time.
The 5 best Amazon deals you can get this Monday
usatoday.com
This is one of the best meat thermometers you can buy—and it's 30% off
usatoday.com

 

 37 /102 

0.5
Steady Earnings Growth Could Drive Paycom Software Stock To $470
(0.06/12)

After a more than 2x jump from its low in March 2020, at the current price of $370 per share, we believe Paycom Software Inc. stock (NYSE: PAYC) has further upside potential. Paycom stock has risen from $160 in March 2020 to $370 currently, more than the S&P which increased by around 95% from its lows. Further, the stock is up 1.2x from the level it was at before the pandemic. We believe that Paycom stock could rise more than 25% to regain its late-2020 high of $470, driven by steadily rising demand and strong Q1 2021 results. Our dashboard What Factors Drove 361% Change In Paycom Software Stock Between 2017 And Now? has the underlying numbers behind our thinking. Paycom, an online payroll and human resource technology provider, has seen its stock price rise since 2017-end due to an almost 2x rise in revenue from $433 million in FY 2017 to $841 million over the last 12 months. Combined with a roughly unchanged outstanding share count over this period, RPS (revenue-per-share) rose from $7.50 in FY 2017 to $14.50. Meanwhile, Paycom’s P/S (price-to-sales) multiple rose from 11x in 2017 to 32x at 2020 end, before dropping to 25x currently. However, we believe that the company’s P/S ratio has the potential to rise in the near term on expectations of continuing demand growth and a favorable shareholder return policy, thus driving the stock price higher. Where Is The Stock Headed? The global spread of coronavirus and the resulting lockdowns have led to a rise in online activity and driven the shift toward working from home. This has motivated more and more companies to make the switch to third party human research management vendors, both for convenience and to save costs. This is evident from Paycom’s FY 2020 earnings, where revenue came in at $841 million, up from $738 million in FY 2020. Additionally, in Q1 2021, Paycom posted a further jump in revenue to $272 million, up from $242 million for the same period last year. With operating expenses rising slightly faster, Paycom’s operating margins dropped slightly from 36.8% to 34.7%, but a slight rise in other income, helped EPS increase from $1.09 to $1.12. Going forward, we believe the company will continue seeing strong revenue growth, as demand for the company’s products and services is expected to stay strong. Additionally, if Paycom manages to successfully control operating expenses, profitability could rise further in the near to medium term. This will raise investor expectations, driving up the company’s P/S multiple. We believe that Paycom stock can rise over 25% from current levels, to regain its late-2020 high around $470. While Paycom Software Inc. stock may move higher, it is helpful to know how its peers stack up. Paycom Software Inc. Stock Comparison With Peers summarizes how Paycom compares against peers on metrics that matter. You can find more such useful comparisons on Peer Comparisons. See all Trefis Featured Analyses and Download Trefis Data here
Down 50% From Recent Highs, Time To Buy Tupperware Brands Stock?
forbes.com
Chipotle’s Stock Has Moderate Growth Potential Post Q2 Earnings
forbes.com

 

 38 /102 

0.2
Oil sinks to 7-week low as OPEC+ deal to increase supply arrives as Delta variant cases surge
(0.04/12)

Oil prices tumbled by nearly 7% on Monday after major producers moved to supply more oil to the global market, with the agreement arriving as a surge in COVID-19 cases stoked worries about demand for crude. West Texas Intermediate crude prices sank 6.8% to $66.90 per barrel, the lowest price since June 1. Brent oil, the global benchmark, fell by 6% to $69.21. Prices came under pressure after OPEC and its allies agreed to boost stockpiles by 400,000 barrels a day beginning in August, with monthly production increases continuing until April 2022. As more oil is set to come online, cases of COVID-19 from the Delta strain of the virus have been accelerating worldwide, pushing total cases to more than 190 million. The UK recorded more than 50,000 new cases for the first time in six months on Friday. In the Asian financial hub Singapore, new cases nearly doubled to their highest amount in 11 months. In the US, infections are rising in all 50 states, with Los Angeles County, the largest in the country, reimposing indoor mask mandates. OPEC+ struck its deal over the weekend after a deadlock between Saudi Arabia and the United Arab Emirates was resolved. The agreement also comes as oil prices this year had climbed about 40% this year to nearly three-year highs on expectations that mass vaccinations against COVID-19 would invigorate the demand for oil that was devastated by last year's onset of the pandemic. OPEC+ is aiming to add 2 million barrels per day to the market by the end of 2021. "Investors should understand that the cartel has agreed to boost oil production and has decided to restore all supply removed from the market during the coronavirus pandemic by the end of 2022," Naeem Aslam, chief market analyst at AvaTrade, said in a note Monday. "However, traders should keep in mind that the slow pace of production growth indicates that producers are comfortable with current oil prices and are likely concerned about the pace of economic recovery as new coronavirus variants emerge," he said. "Therefore, it is uncertain whether the planned rise in oil supply will hinder a rise in oil prices as demand continues to rise."
Global stocks tumble as delta variant cases soar; oil falls after OPEC+ reaches a deal on supply
markets.businessinsider.com

 

 39 /102 

0.9
Will Humana Stock Continue Its Rally After A 10% Rise In A Month?
(0.03/12)

The stock price of Humana (NYSE: HUM) has seen a 10% rise over the last twenty-one trading days, while it is up 18% over the last year. Humana has benefited from higher Medicare Advantage premium income as well as increased healthcare services revenues. The company has seen a strong 29% growth in individual Medicare Advantage membership from 3.1 million members in 2018 to a little under 4.0 million members in 2020, aiding its premium revenue growth. Separately, Humana has been focused on enhancing its offerings for home-health services, and it recently announced its plans to acquire One Homecare Solutions, a home care provider. [ 1] This acquisition comes just months after Humana announced the acquisition of the remaining 60% stake (Humana owned 40% earlier) in Kindred At Home, the largest home-based care provider in the U. S. These developments have boded well for HUM stock in the recent past. However, now that HUM stock has seen a rise of 10% in twenty-one trading days, will it continue its upward trajectory, or is a fall imminent? Going by historical performance, there is a higher chance of a decline in HUM stock over the next month. Out of 293 instances in the last ten years that HUM stock saw a twenty-one day rise of 10% or more,167 of them resulted in HUM stock declining over the subsequent one month period (twenty-one trading days). This historical pattern reflects 167 out of 293, or about 57% chance of a decline in HUM stock over the coming month. See our analysis on Humana Stock Chances of A Decline for more details. Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using last ten years data Predict average return on Humana Stock Return: AI Predicts HUM Average and Excess Return After a Fall or Rise Humana Stock Return (Recent) Comparison With Peers While HUM stock may see lower levels,2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Amerco vs Humana. See all Trefis Featured Analyses and Download Trefis Data here
Down 50% From Recent Highs, Time To Buy Tupperware Brands Stock?
forbes.com

 

 40 /102 

0.2
Sebi proposes swing pricing in open-ended debt schemes to protect investors
(0.02/12)

The Securities and Exchange Board of India (Sebi) on Monday proposed to introduce a swing-pricing mechanism to protect in an event of market dislocation. Swing pricing refers to the process of adjusting a fund’s net asset value (NAV) to effectively pass on transaction costs stemming from either inflows or outflows from the schemes. In a consultation paper, has said keeping in mind regulatory practices followed by other jurisdictions, a hybrid model is proposed which is partial swing during normal times and a mandatory full swing during times of market dislocation. will determine ‘market dislocation’ either based on industry body Association of in India's (Amfi's) recommendation or based on a combination of various factors like net redemption build up at industry level, global market indicators, Indian market indicators as well as bond market indicators. The secondary bond market in India is not as liquid as the equity market and can absorb only a limited amount of paper on any given day. Further, liquidity is concentrated in high quality paper and during market dislocation, very high-risk aversion is observed and in terms of yield of bonds, spread over benchmark spikes, particularly for relatively lower quality paper. “There is a need for a mechanism that imposes certain costs on existing investors (since they are contributing to a downward spiral in NAV) while incentivizing entering investors (since they are helping to stem the downward spiral in NAV). This happens as the NAV is adjusted downwards during times when net outflows are more than the swing threshold and this lower NAV is offered to the entering investors during such times,” said in the consultation paper. If the net inflows are more than the swing threshold NAV will be adjusted upwards and if net outflows are more than swing threshold the NAV will be adjusted downwards. Swing pricing mechanism shall be mandated only for all open-ended debt schemes that have high or very high risk on risk-o-meter. For example, under Class I, if Macaulay Duration is less than or equal to one year and if credit risk value of the scheme is more than or equal to 12 the swing factor will be optional. While under Class III, a scheme having any Macaulay Duration, but credit risk value of the scheme is less than 10—swing would be 2 per cent. When swing pricing mechanism is triggered and swing factor is made applicable (during normal time or market dislocation, as the case may be), both the entering and exiting investors shall get NAV adjusted for swing pricing. Swing pricing framework shall be implemented in a phased manner. In the first phase, it shall be mandated only during the times of outflow market dislocation across as it is a high-risk scenario. Further, it is proposed that in subsequent phases, SEBI will examine the applicability of swing pricing mechanism to equity schemes, hybrid schemes, Solution oriented schemes and other schemes like index funds and exchange traded funds (ETFs). Swing pricing shall be made applicable to all unitholders with an exemption for redemptions upto Rs 2 lakh for all unitholders and upto Rs 5 lakh for senior citizens at mutual fund level in order to keep retail investor and senior citizen insulated from the applicability of swing pricing to certain extent.
Sebi proposes swing pricing mechanism for mutual fund debt schemes
business-standard.com

 

 41 /102 

0.3
5 Stock Option Mistakes To Avoid When Your Company Goes Public
(0.02/12)

Amidst a flurry of IPOs, many employees are experiencing their first major liquidity event from stock options. Unfortunately, for stock option rookies and veterans alike, there are plenty of potholes you'll want to avoid when your company goes public. The crux of the issue boils down to planning, or lack thereof. Here are the top five mistakes employees of private companies often make when their employer is going public via IPO, SPAC, or direct listing. If your employer (or former employer) is going public, you've likely done some Googling to learn more about what an IPO means for employees. In your research, it's also likely that you've been frustrated by the lack of concrete advice and frequent use of 'it depends'. Why is that? It's not because financial advisors (are lazy, it's because companies have a lot of latitude when structuring stock plans and public offerings. So the rules of the road for someone with stock options at one company going public may be totally different for another. For example, the length of a lockup period depends on how a company goes public. In a traditional IPO, lockup periods are typically six months. In a direct listing, there's no lockup, yet when a company goes public via SPAC merger/acquisition, the lockup period can be a year. So it depends! While stock plans and planning strategies during an IPO differ, the most common mistakes people make usually don't. When you have stock options, there's a lot to consider before and after an IPO. Here are a few considerations: Please don't take tax advice from Bob in accounting. Sure, he's in finance, and very smart I'm sure, but he knows nothing of your financial and tax situation, stock grants, and perhaps not much about how stock options work in general. In fact, many financial advisors aren't even experienced with equity compensation plans. And even when they are, the ultimate number-crunching tax guidance should come from a CPA or qualified tax advisor. Aside from getting tax advice from unqualified professionals, other common rumor-mill mistakes include not understanding your grant terms, vesting (any accelerated vesting provisions, double-trigger clauses), and access to liquidity. For example, even when the lockup period expires, if you're an insider without a 10b5-1 plan, you probably can't sell any shares. Stocks don't only go up. And newly public companies are notoriously volatile. Professor Jay Ritter from the University of Florida tracks IPO data and trends. His research showed that between 1980 and 2019 IPOs have underperformed other similarly sized companies by 2.8% per year on average during the five years after issuing, excluding the first-day return which can be significant (18% on average according to Ritter). To be clear: IPOs can be wildly successful. Many of our clients, particularly early employees, have benefitted significantly from sudden wealth following a merger, acquisition, or public offering. But it's important to accept that it's not a foregone conclusion. Paper profits are only that until the gains are realized when the stock is sold. This brings us to the next mistake employees make with stock options during an IPO. A company isn't publicly traded until it is. In 2019, WeWork was planning an IPO: it failed. Now, WeWork is merging with a blank check company to go public via SPACquisition. That deal isn't done yet either. Even after a company goes public, there's no telling how the market will react. Coinbase went public via direct listing in April 2021. As of July 16, 2021, the stock was down over -31% on the year. Compass went public around the same time and the stock is down nearly -37% YTD. Upstart Holdings went public mid-December 2020 and is up 286% since then. Because of the volatility and uncertainty, pre-spending paper profits is an important stock option mistake to avoid when your company goes public. After realizing gains, the next step will be avoiding lifestyle inflation, but that's another topic entirely. Aside from stock volatility, consider how potential changes in tax laws may impact your net gains and that you may not earn unvested shares if you change jobs. Before a major liquidity event, employees with stock options may not have an overly complex financial situation. However, sudden wealth from an IPO often requires more sophisticated planning and assistance from professional advisors. For example, you may want to consider updating your estate plan or setting up trusts. Having a cohesive investment strategy and financial plan is also critical at this juncture. After all, you only have one chance to save, spend, or invest every dollar from a windfall. A fiduciary financial advisor can also help you evaluate other opportunities, like using stock options for charitable goals. For employees with stock options, an IPO may not change your life or financial situation. For some, going public could provide a modest windfall and welcome financial boost. In other situations, it's a path towards early retirement or multi-generational wealth. In any case, consider taking steps to help ensure you don't make any major stock option mistakes when your employer goes public.
The Boeing Company Ranked Among Today’s Trending Stocks
forbes.com

 

 42 /102 

0.4
Financials shares fall
(0.02/12)

Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 142.45 points or 1.79% at 7830.21 at 13:50 IST. Among the components of the S&P BSE Finance index, PTC India Financial Services Ltd (down 4.92%), L&T Finance Holdings Ltd (down 4.27%),HDFC Bank Ltd (down 3.4%),IDFC Ltd (down 3.23%),Shriram Transport Finance Company Ltd (down 3.11%), were the top losers. Among the other losers were HDFC Asset Management Company Ltd (down 3.06%), AU Small Finance Bank Ltd (down 3.02%), Equitas Holdings Ltd (down 2.61%), Magma Fincorp Ltd (down 2.6%), and IndusInd Bank Ltd (down 2.56%). On the other hand, CRISIL Ltd (up 9.43%), Angel Broking Ltd (up 5.92%), and BF Investment Ltd (up 4.25%) moved up. At 13:50 IST, the S&P BSE Sensex was down 573.13 or 1.08% at 52566.93. The Nifty 50 index was down 161.9 points or 1.02% at 15761.5. The S&P BSE Small-Cap index was down 32.81 points or 0.12% at 26429.5. The S&P BSE 150 Midcap Index index was down 36.21 points or 0.45% at 8082.5. On BSE,1665 shares were trading in green,1559 were trading in red and 183 were unchanged.
Metal stocks edge lower
business-standard.com

 

 43 /102 

1.0
Power Finance Corporation Ltd in demand
(0.02/12)

Power Finance Corporation Ltd is quoting at Rs 129.3, up 1.37% on the day as on 12:54 IST on the NSE. The stock is up 56.25% in last one year as compared to a 42.98% spurt in NIFTY and a 49% spurt in the Nifty Financial Services index. Power Finance Corporation Ltd gained for a third straight session today. The stock is quoting at Rs 129.3, up 1.37% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is down around 1.03% on the day, quoting at 15759.2. The Sensex is at 52546.32, down 1.12%. Power Finance Corporation Ltd has risen around 3.94% in last one month. Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has risen around 0.03% in last one month and is currently quoting at 16884.1, down 2.1% on the day. The volume in the stock stood at 59.25 lakh shares today, compared to the daily average of 67.3 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 129, up 0.82% on the day. Power Finance Corporation Ltd is up 56.25% in last one year as compared to a 42.98% spurt in NIFTY and a 49% spurt in the Nifty Financial Services index. The PE of the stock is 3.99 based on TTM earnings ending March 21.
Power Finance Corporation Ltd rises for third consecutive session
business-standard.com

 

 44 /102 

0.5
Contract Holdout a ‘Realistic’ Option for Bills QB Josh Allen: Insider

Getty Josh Allen throws a pass in a game against the New England Patriots. Both the Buffalo Bills and Josh Allen seem to be singing the same tune regarding a contract extension — talks are moving along, albeit more slowly, with both sides committed to reaching a long-term deal. Still, one insider believes there is the potential for the negotiations to go sideways. Chris Roling of Bleacher Report published a list of the top six players who could be headed for contract holdouts, listing Allen as one of the likely options. The latest Bills news straight to your inbox! Join the Heavy on Bills newsletter here! Join Heavy on Bills! As Roling noted, it didn’t necessarily seem likely that Allen would hold out after both sides had spoken so positively of the process, but it’s still a possibility given his stature in the league. He noted that Allen could have a good argument for getting a new deal now rather than waiting closer to the end of his contract. “Still, a holdout is realistic because he’s a star quarterback who can afford, over the long-term, the cost of such a move. He’ll also ruin his team’s plans if he’s not in camps,” Roling wrote. All Allen has to do is point toward names such as Patrick Mahomes and Deshaun Watson getting extensions before their fourth years for justification, especially after his epic campaign. That and the small $6.9 million cap hit he has in 2021. Nick Wojton of USA Today’s Bills Wire disagreed strongly with the assessment. He pointed out that Allen is already getting a significant raise next season since the Bills picked up his fifth-year option, saying that there is close to zero chance he would hold out. No shot: https://t.co/1HfyraPoON TheBillsWire (@TheBillsWire) July 19, 2021 A holdout would also seem unlikely given the tenor of Allen’s comments about the process. He has spoken about his desire to remain in Buffalo, and Bills head coach Sean McDermott has expressed plenty of optimism about how the process will play out. “These things handle themselves,” McDermott said, via Sports Illustrated’s Bills Central . “They work themselves out when you’ve got two parties that want to be together and have the same end goal in mind. Josh is a great, young talent and he fits so well with Buffalo and the city and the town and the people of Buffalo. So I firmly believe it’s going to work itself out.” While there has been some debate among insiders as to the total number of years and dollar amount of Allen’s likely contract, there is an overall belief that the Pro Bowl quarterback is willing to work with the team a bit. ESPN’s Jeremy Fowler noted that Allen loves being in Buffalo and is willing to structure a new contract so it would allow the team to stay competitive over the coming years. #Bills ’ Sean McDermott remains cool about Josh Allen extension talks: https://t.co/9RSIyqPoo3 — TheBillsWire (@TheBillsWire) July 12, 2021 “As was told to me, look, he knows he’s going to get paid eventually, the Bills know he’s going to get paid eventually, so neither side is particularly worried about it,” Fowler said on ESPN, via Bleacher Report. READ NEXT: Analyst Predicts Monstrous Year for Bills’ Josh Allen, Makes New Prediction

 

 45 /102 

0.1
There are real questions about Yankees’ trade deadline plan: Sherman

This time of year exaggerates reactions. Each win. Each loss. It plays larger. Time is expiring for teams to determine exactly who they are — if they still don’t know — and to externally fix what is wrong. So when a club closes the first half as the Yankees did — blowing a five-run, ninth-inning lead in Houston — and comes back from the break with a quarter of its roster lost to COVID-19 or injury before sleepwalking through a shutout loss to the Red Sox, what ensues is a sell-everything furor. That is until two straight well-pitched, underdog-spirit victories over Boston brings a “hold on, maybe, buy” rebound. The Yankees are not alone on vacillation island. The Angels, Indians, Braves, Nationals and Reds also are teetering between buy or sell — and to what levels. A few wins or losses in a row carry additional weight between now and the July 30 trade deadline. The Yankees want to go for it. They are out hunting outfielders, preferably someone who can play center field, if perfect someone who bats left-handed. They have inquired about Miami’s Starling Marte (a righty hitter). They remain fascinated with Texas’ Joey Gallo. They have wondered about Minnesota’s Max Kepler. No team at this time of year completely ignores pitching. After all, the Dodgers added to the deepest rotation in the majors by signing Trevor Bauer in the offseason. The Padres obtained Yu Darvish, Joe Musgrove and Blake Snell. Yet due to injury and/or Bauer’s legal problems, those NL West powers are pursuing starting pitching now. So the Yanks would not ignore that market completely — no team truly has enough. But they appear willing to gamble that the pitching answers come internally. With Nestor Cortes Jr. and Jonathan Loaisiga returning from the COVID-19 list. With Corey Kluber, Luis Severino and Clarke Schmidt returning from the injured list. With Zack Britton and Aroldis Chapman rediscovering their best form. The Mets, conversely, are much more headlong into finding pitching. That was true even before Jacob deGrom went to the injured list. That is partially because they have lost depth pieces such as Joey Lucchesi and Jordan Yamamoto for the season. The fear about having too little pitching — especially with so many concerns about what arms look like the rest of the way after a COVID-shortened 2020 with no minors — is palpable, especially because you essentially upgrade in the next 10 days or the chances to do so virtually vanish. This year, as part of rewritten COVID rules, there are no August waiver trades, like the one that sent Justin Verlander to the Astros in 2017 or Andrew McCutchen to the Yankees in 2018. No 40-man player can be traded after 4 p.m. July 30. Pure minor leaguers can be dealt and clubs can still add players via waiver claim or signing free agents such as released players. But this is not a bin likely to provide meaningful help. So how much will the Yanks push into a market that has further complications for them. Consider that through the weekend, five AL teams outside the East had either the same or a better winning percentage than the Yankees, who were 14-5 against the White Sox, Indians, Astros, A’s and Mariners. But against the three teams ahead of them in the AL East — the Red Sox, Rays and Blue Jays — the Yanks are 13-21. Beginning Thursday, the Yanks play seven straight at Boston and Tampa Bay. That will take them to deadline day. To even be the second wild card, the Yanks must finish at least third in the AL East. The current occupant, the Blue Jays, not only can upgrade with trades, but can anticipate a strong emotional bump July 30 upon returning to play in Toronto for the first time since 2019. The Yankee situation also is complicated by how much they are willing to spend. Hal Steinbrenner has said he would consider going over the $210 million luxury tax threshold. I am dubious. Is he really authorizing going over to pursue the second wild card or in a year in which projection models currently have the Yanks missing the playoffs at least 60 percent of the time? If the Yanks don’t go over, they have, perhaps, $3 million in wiggle room; unless they can free marginal dollars by, for example, including a prospect along with Justin Wilson as they did to trade Adam Ottavino in the offseason. The Yankees are not surrendering. At least not yet. But there are real questions about just how far they will go in this trade market.

 

 46 /102 

0.5
Industry Reaction To The Latest Rightmove House Price Index - ValueWalk

Industry reaction to the latest Rightmove House Price Index report. Q2 2021 hedge fund letters, conferences and more Commentary On The Rightmove House Price Index Managing Director of Barrows and Forrester, James Forrester, commented: “The availability of stock on the market is the lifeblood of the property market and if it’s significantly short in volume. As a result, we can expect to see prices soar ever skyward as demand continues to outstrip supply, regardless of the fact that the stamp duty bonanza may have finished.” Founder & Managing Director of Yes Homebuyers, Matthew Cooper, commented: “History tells us that such a meteoric rate of house price growth simply isn’t sustainable. The past 12 months or so may well have been good for the property industry and for sentiment overall however caution now prevails as we enter a second year of wildly increasing property values - a bubble if ever there was. The spectre of higher inflation and the Bank of England potentially responding with the blunt instrument of an increase in interest rate rather adds to the peril.” Founder and CEO of GetAgent.co.uk, Colby Short, commented: “The time it’s taking to sell a home has plummeted to just 38 days in June, an all time low. However, it’s important to note that this is the time it’s taking to agree a sale, not complete it, and sizable delays remain at the final stage of the transaction timeline. Now that the support from the temporary stamp duty relief has all but ended, we will inevitably see the market return to normality with demand diluting somewhat, price growth softening and time-to-sell increasing back to 45 to 50 days.”

 

 47 /102 

0.2
As stablecoins explode in popularity, regulators prepare a response.

Top U. S. financial regulators met on Monday to discuss stablecoins, asset-backed digital currencies that are exploding in popularity so quickly that the government is struggling to keep up — and which economic officials increasingly see as a risk to financial stability. Stablecoins are cryptocurrencies that derive their value from an underlying currency or basket of assets, and they have long been a point of unique concern. When news broke in 2018 and 2019 that Facebook was looking into creating a stablecoin, the Federal Reserve and other regulators took note, worried that the project could gain scale rapidly. Pressure to develop a framework for overseeing them has ramped up even more recently, as prominent stablecoins including Tether and Binance have exploded in popularity. The Treasury Department announced on Friday that Secretary Janet L. Yellen would convene a meeting of the President’s Working Group on Financial Markets to discuss regulators’ work on stablecoins. That group includes Jerome H. Powell, the chair of the Federal Reserve, and the leaders of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Monday’s meeting was expanded to include the heads of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. Meeting participants “discussed the rapid growth of stablecoins, potential uses of stablecoins as a means of payment, and potential risks to end-users, the financial system, and national security,” according to a Treasury statement released after the meeting on Monday. Ms. Yellen “underscored the need to act quickly to ensure there is an appropriate U. S. regulatory framework in place.” Mr. Powell has been particularly outspoken about the need for better oversight of stablecoins and said repeatedly during two congressional appearances last week that they are inadequately regulated. “If we’re going to have something that looks just like a money-market fund, or a bank deposit, a narrow bank, and it’s growing really fast, we really ought to have appropriate regulation — and today we don’t,” he said during testimony before the Senate Banking Committee. Eric Rosengren, the president of the Federal Reserve Bank of Boston, has similarly warned about Tether, arguing that it relies on underlying financial assets that could experience investor runs in times of trouble. New York’s attorney general said earlier this year that Tether had misled investors by claiming to be fully backed by U. S. dollars at all times. The Treasury said that the working group expects to issue recommendations in the coming months for stablecoins. The group has previously warned stablecoin operators that they need to maintain adequate cash reserves to back their offerings. The Fed could also try to elbow aside digital offerings by offering its own alternative. The central bank is looking into a digital currency offering, which would probably function much like the digital cash you spend when you swipe your debit card. But where that debit card money ties back to the commercial banking system, the central bank digital currency would have direct backing from the Fed, just like physical cash does. Mr. Powell told lawmakers last week that obviating the need for stable coins could be one of the stronger arguments for a digital dollar. But Mr. Powell remains undecided on whether a central bank digital currency makes sense, he told lawmakers. The Fed is planning to publish a comprehensive report on the possibility of a digital dollar, probably around September.

 

 48 /102 

1.0
Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%

NEW YORK (AP) — Stocks slump, bond yields drop on worries another surge in virus cases will sap economic growth; Dow sinks 2%. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

 

 49 /102 

0.3
Barcelona Wants To Sign a Midfield ‘Beast’: Report

Getty Barcelona legend Yaya Toure Barcelona has already brought in four players this summer but remains reportedly keen to sign a midfield “beast” before the start of the 2021-22 La Liga season. There is a “consensus” at the Camp Nou that a “powerful” and experienced midfielder is needed to strengthen the squad after missing out on Georginio Wijnaldum, according to Mundo Deportivo’ s Fernando Polo. Coach Ronald Koeman wants a box-to-box midfielder who can increase the goal threat from midfield for next season. Former stars such as Edgar Davids, Yaya Toure, and Deco are mentioned as the type of “dynamic” player Barca is looking for. Koeman has admitted in a new interview with Barca TV that he wants more goals from midfielder when talking about Frenkie de Jong, as reported by Marca. He explained, “He has improved going forward and we will keep working for him to get even better. Like all the midfielders, he should aim to score between three and six goals.” Meanwhile, Polo also adds that Barcelona has looked at Chelsea’s recent Champions League triumph and believes the team lacks the “advanced pressure” and “level of intensity” that brought Thomas Tuchel’s side European glory. The club is struggling financially and needs to cut the wage bill dramatically to comply with La Liga’s salary cap but will still “work tirelessly” to try and incoporate another midfielder either in a swap deal or “for a very low price.” Follow the Heavy on Barcelona Facebook page for the latest breaking news, r umors and content! One player who has been offered to Barcelona at a low cost is Lille and Portugal midfielder Renato Sanches. Agent Jorge Mendes has offered the 23-year-old to the Catalan giants on an initial loan, according to Jordi Batalla at Mundo Deportivo. Sanches would fit the profile of a dynamic midfielder at a low price, but the report states that Barca is not too keen on the youngster and a move to the Camp Nou currently is unlikely. Santi Gimenez at AS reports that Sanches has prompted “internal debate” at Barcelona. Some in the club’s hierachy have deemed the midfielder to be a “great market opportunity,” while others “are suspicious of his performance when he has been in highly competitive teams.” Sanches started off at Benfica before securing a big-money move to Bayern Munich. However, the youngster struggled with the Bavarian giants and was shipped out to Swansea City on loan before joining Lille. Sanches is not the only midfielder being linked with a move to Barca. There has been speculation the Catalans could move for Atletico’s Saul Niguez in a swap deal with Antoine Griezmann. However, Barca appears to have ruled such a transfer out. According to Xavi Hernandez Navarro at Ara, the Catalans have given up on the idea because they do not think it is a good deal as Griezmann has a higher market value that Saul. Manchester United midfielder Donny van de Beek also continues to be linked with a Camp Nou move. The Dutchman only joined the Red Devils in summer 2020 but struggled to make an impact in his first season. Gabriel Sans at Mundo Deportivo reports the midfielder could arrive at Barcelona on loan, while there’s also a possibility that Barca could also try and use Samuel Umtiti as part of any transfer. READ NEXT: Barcelona New Boy Says Club’s Style of Play ‘Is Perfect For Me’

 

 50 /102 

1.2
The best online sales and deals happening now, including United by Blue, Chewy, and Madewell

Get up to 60% at United by Blue Save with Chewy Summer Deals Get up to 30% off The North Face at Backcountry Get up to 60% off at Madewell Get ready for Nordstrom's Anniversary Sale Get up to 50% off at Lo and Sons Get $25 back when buying HBO Max with your Amex card Get 15% off your first contacts order at Warby Parker Get 50% off your first Menlo Club box

 

 51 /102 

0.6
Nearing Retirement? Kick Your Financial Fears To The Curb

As markets remain volatile, inflation creeps up, and taxes are poised to rise for wealthy taxpayers, a growing number of investors are expressing concerns about their prospects for life in retirement. A recent study on the biggest risks to retirement security looked at the top concerns among investors who plan to retire in the next ten years. More than half (56%) of those surveyed say they are concerned about spending too much and running out of money in retirement, with 53% concerned about losing money in their retirement accounts, due to a severe drop in the stock market. In a separate survey, nearly 60% of financial advisors note that clients need to accumulate more money in order to have a financially secure retirement, but many are too close to retirement to take on the risk of investing in high-risk/high-reward financial products. Ironically, longevity, the desire to live a long and fulfilling life, is also one of the greatest risks to retirement security. Longevity risk refers to the possibility that retirees will live to such an advanced age that they will deplete their retirement savings and have to rely solely on Social Security to meet their essential expenses for housing, healthcare, food, clothing and transportation. While Social Security provides lifetime benefits, keep in mind that it’s only expected to replace about 40% of the average worker’s income in retirement. For most retirees, that would leave a significant gap between the income they receive and the income they need to accomplish all of their lifestyle goals. While outliving savings in retirement is a very real risk for many Americans, there are a number of steps you can take now to help replace concerns about life in retirement with confidence. That begins with working with an independent advisor who can help you put a plan in place that brings all of the elements of wealth planning together in a seamless manner, including the four key areas discussed below. Identifying potential risks that could prevent you from accomplishing your goals is important at every stage of life. That’s why you insure your home, automobiles, and business. It’s also why you protect your income—and the people who depend on your income if something happens to you—with disability and life insurance. Risk management is also a critical part of your investment strategy. Are you taking on too much or too little investment risk, based on your financial objectives, timeframe and tolerance for market fluctuations? A strategy that is too risky can result in losses that are not easily recouped, especially for investors in or nearing retirement with shorter investment timeframes. It can also lead to poor decision making, like selling holdings as stock prices are falling, then buying back in as prices begin to rise again. A strategy that’s too conservative can also have serious consequences if investment earnings can’t keep pace with inflation over time. This is why adhering to a disciplined investment process is so important. A consistent and repeatable process provides an orderly way to create and maintain a portfolio aligned with your specific goals and objectives while seeking to manage investment risk. If you don’t have a plan in place now, consider working with a fiduciary advisor to help you develop a strategy that will put you on the right course toward accomplishing your goals. Taxes in retirement are complicated. If not managed properly, they can take a serious bite out of your income in retirement. Tax planning should begin while you are still employed to help ensure that you are maximizing benefits such as employer retirement plans and that you receive the maximum tax benefits for various forms of compensation, including salaries, bonuses and stock options. As you near retirement, it’s critical to have a plan in place for how you will take income in retirement. A tax-efficient withdrawal strategy determines which accounts to draw down on, and in what order, to optimize your income and tax exposure. Tax-smart strategies are also important for carrying out your legacy during your lifetime and transitioning assets to your heirs upon your death. Your financial advisor can partner with you and your CPA to help ensure you have a plan in place to manage taxes now and throughout retirement. Entering retirement with a considerable amount of debt—especially from personal loans or credit cards—can be challenging. As interest charges accrue, they can make balances grow larger and more difficult to pay down. For example, on a $1,000 balance paid over six months, you'll spend about $47 on interest if your card has an annual percentage rate (APR) of 16%. If you have the same balance but a 20% APR, you'll pay about $59 in interest over the same period, according to U. S. News. What may feel like small amounts now can eat into your income over time. That’s because debt effectively “subtracts” from the income you receive from Social Security and other sources in retirement. Even a mortgage, which is the most common type of debt among retirees, can reduce your financial flexibility in retirement. Ideally, you want to pay off any revolving credit card debt and personal loans before you retire. Your financial advisor can work with you to put a plan in place to help rein in spending and manage debt as you prepare to enter retirement. Estate planning is central to the wealth management process. Without the right legal documents in place to protect your loved ones and your assets, in the event of your death a court could be left to decide the disposition of your assets or appoint a guardian for any minor children. However, estate planning is about far more than what happens after you’re gone. It’s about protecting your interests during your lifetime, including who will make important decisions on your behalf concerning your living arrangements, medical treatments, and end of life care if you’re unable to make these decisions yourself, due to temporary or permanent incapacitation. A comprehensive estate plan generally includes a variety of documents including a last will and testament, living will, revocable living trust, durable power of attorney, and more. Life insurance, retirement plans, and business plans (if you own a business) may also be included. It’s important to work with your financial, tax and legal advisors to put a plan in place as soon as possible to protect your life and your legacy. If you already have a plan, make sure you and your advisors are reviewing it regularly and whenever circumstances in your life change or state or federal tax laws change. If you experience stress or anxiety about how financially prepared you may be for retirement, you’re far from alone. Retirement is a significant lifestyle change. However, confronting your fears and concerns is the first step toward building a confident path to the life you desire in the decades ahead. To learn more about ways to overcome apprehension and fear when it comes to your retirement, download 8 Blunders to Avoid in Retirement.

 

 52 /102 

0.1
Bitcoin Is At A Critical Juncture

After peaking at $63,503 on April 13 this year bitcoin has fallen just over 50% to approximately $30,700 today. It is still up 6% for the year but has been in a steady downward trend since it tried to rally in the late April to mid-May timeframe and failed to make a new high. There are two technical patterns that show bitcoin is at a critical juncture. Head and shoulders StockCharts.com describes a head and shoulders pattern as, “the Head and Shoulders reversal pattern is made up of a left shoulder, a head, a right shoulder, and a neckline.” It adds, “A Head and Shoulders reversal pattern forms after an uptrend, and its completion marks a trend reversal. The pattern contains three successive peaks, with the middle peak ( head) being the highest and the two outside peaks ( shoulders) being low and roughly equal. The reaction lows of each peak can be connected to form support, or a neckline.” As can be seen in bitcoin’s chart there was a heads and shoulders pattern formed between March and May this year. And then it decisively broke below the neckline support at $50,000. Descending triangle The near-term technical bearish pattern that has formed is a descending triangle. StockCharts.com describes it as, “a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution (or selling of shares).” After an attempted rally in late June bitcoin has seen a series of lower highs with the base of the triangle right around where it is currently trading. If the pattern holds, which is by no means a certainty, and bitcoin breaks below the base of the triangle, there is some longer term support around $30,000 but it could easily fall below this level.

 

 53 /102 

0.5
We are currently unavailable in your region

Unfortunately, our website is currently unavailable in your country. We are engaged on the issue and committed to looking at options that support our full range of digital offerings to your market. We continue to identify technical compliance solutions that will provide all readers with our award-winning journalism.

 

 54 /102 

0.1
Insider's top 5 sustainability tips to save time and money

Good Subscriber Account active since Food waste is a massive issue that skews supply and demand, raises prices, and leads to more trash than our infrastructure can handle. Additionally, carelessly discarding household appliances and clothing can be detrimental to the environment. Thankfully, mindful lifestyle choices can help alleviate the harmful effects that contribute to the climate crisis. But can you make more sustainable choices without paying more? Can sustainable habits actually save you time and money, or is it all a hassle no matter how you slice it? Our list of tips are here to help you reduce food waste, slow down wardrobe turnover, make better use of community resources, and so much more. Donate, shop, and volunteer at your local Habitat for Humanity ReStore. Home improvement items, extra lumber, materials, and appliances can be donated and purchased at hundreds of the nonprofit's stores. Proceeds help build homes for low-income families. Moving? Rent and use reusable plastic totes on your next local move. They're easier to deal with than cardboard boxes, come with easy to lift handles, and many moving companies now offer them. Every time you want to buy something that isn't a staple or necessity, write it down and wait three days. The urge to shop will often pass. Organize a clothing swap of new and gently used items that no longer fit with friends and family members. You can also donate to a clothing or home-goods drive nearby. Another option? Visit a local thrift store to drop off items. Bonus: you can typically get a receipt for the value of your donation, which is tax-deductible up to a certain amount. Instead of buying items like blenders and drills, borrow them from a tool library (and donate your unwanted, working, small household appliances and tools there too) or explore local thrift/secondhand options before buying new from a hardware store. If you're interested in a more in-depth look at the business and culture of sustainability, sign up for our free sustainability newsletter. Have any tips you want to recommend? Let us know! Send an email to newsletter@insider.com.

 

 55 /102 

0.4
How To Sell Your Ideas To The C-Suite

It seems my open letter to CEOs about marketing hit a nerve with many readers. With CMO turnover rates at an all-time high, it’s no wonder marketing leaders are feeling undervalued and unappreciated. One of the questions that arose from some lively LinkedIn discussions that followed the article begged this question: How do I sell my ideas to the C-suite? Specifically, how can marketing leaders more effectively get their peers and leadership on board with what it actually takes to market in the digital age, aside from hoping that they stumble onto that article! To that end, here are my top five tips on how to sell your ideas to the C-suite. Whether that’s convincing them to stop chasing MQLS and focusing on profitability or convincing them to invest in share of voice and PR. After all, recall drives revenue. Think Like an Investor. First, you have to take on this persona. A savvy investor makes decisions by projecting forwards. The approach is highly fluid, and the focus is on reading signals, pricing in the risk of failure, and doubling down on success based on data and agility. They have to be able to take a certain amount of risk. With this mindset, you move away from the myth that every marketing investment has to pay off instantly, and that you should be able to measure the success of each initiative (investment) at every juncture because that’s hardly how the world of investing - even the most successful investing - works. Then, you can train the C-Suite to start seeing marketing as less of an on-demand collateral factory to an internal investment division because that’s really what good marketing is all about in the first place - choosing which resources to deploy when and where. Successful investing includes wins, short-term losses, strategic experimentation and more. And, that’s acceptable because we expect that of investments. In traditional marketing, decisions are made looking backwards. Hence, why so many companies continue to attend trade shows when a much better ROI could be achieved elsewhere. Expand your Vocabulary. Once you’ve taken on the internal investor persona, you need to start using vocabulary that matches your lens and leads to more aligned support based on the investor vs. marketer persona. Instead of a marketing spend - ask for an investment budget with a spread of strategies. Before you bring new ideas to the C-suite, ask your team, “what is our appetite for risk?” Inevitably some companies will have a greater appetite for risk than others based on how fast they want to grow or if they want to enter new markets. However, higher the risk, higher the reward. Now, as a marketer, you know that what sometimes feels “risky” to most of the C-suite isn’t actually all that risky. But, this will take away the pressure that every tactic has to be a bullseye, and instead puts the focus on end of year ROI. When proposing new ideas, position them as “scalable experimentation.” By setting the right tone and expectations from the beginning, your wins will be much more celebrated and your “short-term losses” will be understood as opposed to the gross pressure to measure the unimportant just to be able to present some KPIs that make the board feel good. Create Attribution for Both Demand Creation and Demand Capture. Most of the C-suite is familiar with demand capture: How many of the buyers looking for services in our category find and choose us. With demand capture, you have SEO, adwords, partners, direct traffic...all the tactics which can be measured by flow of the demand. However, you need to separate marketing into two separate categories - and help the C-Suite understand the distinction - so you aren’t judged unfairly (...or at all) for the demand you CREATE. By focusing on how much of your audience views you as the category leader (Share of Voice) and length of sales cycle (buyers ready to buy from YOU vs. those who are already shopping around and are over 60% through the buying cycle before they even reach out to you), you create the paradigm by which you and the team will judge your success. You can set specific KPIs for “category leader,” which you define and report on. Learn to Assess the Timing. The above three ideas will not work if the company is hand to mouth. Meaning, GOOD marketing is a privilege. If the company is underperforming or very much under the gun, no matter what you do, innovation and new ideas will take the backseat to short-term tactics - no matter the actual cost. You have to create a baseline and meet your team where they are before you can guide them to where you want them to go. Getting agreement on key KPIs beforehand will go a long way in helping you establish a baseline. From there, watch and wait for the right timing. The best time to get approval on your next idea is on the tail of a successful one. Focus on Influence, Not Control. This is a tough one because you can’t make anyone actually listen. I know this because I have a two year old whose favorite sentence is “no, mama, bye.” I don’t try to control him because I can’t. I take this same approach with clients. What you CAN do is inspire and connect where they (toddler or C-suite) feel aligned and hence choose to listen and follow of their own free will. This means accepting that there are things you can control and things you can’t. If you work with leadership that, despite your best efforts, is entrenched in their beliefs, there isn’t much you can do except walk away. There are toxic corporate cultures that no matter how good you are at your job or selling your ideas, it isn’t worth it. It’s the business equivalent of “should I stay or should I go?” There are relationships where you can work it out and others where no matter what you do, it isn’t going to be what you want. The difference is always knowing which is which and then having the courage to act on it. Although some of these strategies are easier said than done, you can more effectively pitch your marketing ideas - and even more - help your company see themselves as a market-led company. When a good product or service becomes table stakes, marketing takes on a whole new level of importance. Sometimes the tide of change is slower than we’d like, but this is one fight worth fighting.

 

 56 /102 

0.5
Venture Capital Investment In Brazil Reaches $5.2 Billion During H1 2021

Brazilian startups attracted record levels of investment as the ecosystem matures with international funds rushing to seize opportunities in the Latin American country, according to research. During the first six months of 2021, a total of $5.2 billion was invested in startups based in Brazil, according to numbers released by open innovation network Distrito. By comparison, the total invested in the whole of 2020 - which was considered to be the best year on record for the ecosystem until recently - reached $3.5 billion. During the first half of 2021, the study noted Brazil saw the emergence of four new unicorns, companies valued at $1 billion or over: online education and e-commerce firm Hotmart, crypto exchange Mercado Bitcoin, and online retailer MadeiraMadeira. In addition, digital bank C6Bank, which had a 40% stake purchased by JP Morgan Chase, was added to the pool of Brazilian unicorns. "The success stories and constant unicorn announcements in Brazil are attracting the attention of foreign investors and that feeds back into the market," says Gustavo Gierun, co-founder at Distrito. While 64% of the deals were concentrated in early-stage rounds, with 234 such investments announced in the first half of 2021, later-stage deals represented the bulk of the invested volume in the first six months of the year. The report lists the 11 mega rounds that surpassed US$ 100 million in the first six months of 2021, raised by digital banking firm Nubank across two rounds ($ 1.15 billion), real estate company Loft ($525 million), cross-border payments company Ebanx ($400 million), real estate firm Quinto Andar ($ 300 million), corporate wellness operator Gympass ($220 million), logistics company Loggi ($212 million), Mercado Bitcoin ($200 million), MadeiraMadeira ($190 million), payments company Cloudwalk ($190 million), bus charter firm Buser ($138.9 million) and Hotmart ($126.5 million). According to the report, fintech is the most active segment of the Brazilian startup ecosystem. Startups focused on financial services provision attracted around half of the volume invested in the country, with $2.4 billion spread across 72 deals.

 

 57 /102 

0.3
Very Used Cars: High-Mileage Models Are Now Selling For Big Bucks

There’s a television commercial that’s been airing for decades in Chicago which begins with the tag line, “That old car is worth money.” While that ad is for a local auto graveyard, the same could be said for the larger used-vehicle market, where even models that may have formerly been written off as “beaters” are commanding hefty sums these days. According to the valuation experts at Edmunds.com, the average pre-owned vehicle on a dealer’s lot that’s racked up between 100,000-109,999 miles rose in value by 31 percent over the past year, from $12,626 in June 2020 to $16,489 last month. That’s right, they actually increased in price by nearly a third. It seems everything we thought we knew about used car prices is now wrong. The notions that a vehicle is virtually guaranteed to depreciate over time, losing at least half their original value after five years, and that models with more than 100,000 miles on the odometer are a tough sell to all but the most cash-strapped motorists no longer apply. With production of many new-vehicle lines being slowed or halted by the current microchip shortage, a lack of supply has sent more U. S. consumers (even rental companies) to the used-car market. In turn, the upsurge in demand along with a short supply of product to sell (fewer new models sold means fewer trade-ins winding up on used-vehicle lots) has caused prices to skyrocket literally across the board. In fact, as we documented in a recent post some pre-owned models are now commanding higher prices than their factory fresh counterparts. A “gently used” Kia Telluride SUV is going, on average, for over $3,500 more than a new one, according to the car-search website iSeeCars.com . "It's been a long-held belief among many car buyers and sellers that a vehicle's value begins to decline dramatically once it crosses the 100,000-mile mark, but that's proven to be wrong as vehicle technology and durability have greatly improved over the years," explains Ivan Drury, Edmunds' senior manager of insights. "We're seeing seven- to eight-year-old vehicles with more than 100,000 miles commanding prices today that are more like the cost of five-year-old vehicles with 60,000-80,000 miles a year ago." It should come as no surprise that used vehicle costs accounted for more than a third of the 5.4 percent gain in the Consumer Price Index over the past year. It should also come as no surprise, given the genre’s overwhelming popularity, that used trucks commanded the highest year-over-year increases. Used Chevrolet Silverado 1500s now sell for an average 49 percent more than they did last summer, according to Edmunds.com, with pre-owned Ford F-150 models going for 43 percent more and the Ram 1500 at an average 42 percent increase. Clearly this affords a rare opportunity to sell an older car, truck, or SUV that may be taking up space in the garage for a hefty sum, or to trade in your current ride and apply the extra money to a down payment on a new model. You might even want to sell the old vehicle and lease a new one at a favorable rate (Toyota Camrys are advertised for as little as $239 per month) to ride out the current market conditions and pocket the profit. “Even if you own an SUV or passenger vehicle that's a bit long in the tooth, you shouldn't be too quick to assume its value is dead,” Drury advises. “Chances are it's worth a bit more — if not a lot more — than you think.” You should certainly consider winnowing the family fleet if you own any of what Edmunds says are the 10 top-valued used vehicles driven for between 100,000-109,999 miles:

 

 58 /102 

0.5
AutoNation shares surge after speeding past earnings estimates

AutoNation said it expects strong demand for new vehicles to continue into next year, as low-interest rates and robust demand helped the top US auto retailer trounce quarterly earnings estimates. The company said on Monday sales of new and used vehicles surged 42 percent and 37 percent, respectively, in the second quarter. Shares of the stock were up 4.4 percent, to $107.03, in early afternoon trading. “Consumers are buying vehicles before they even arrive at our stores. We expect the current environment of demand exceeding supply to continue into 2022,” Chief Executive Mike Jackson said in a statement. The global semiconductor chip shortage has depleted vehicle inventories and forced automakers to cut production, prompting consumers to pay more for cars. In its latest auto-industry forecast released in June, JD Power said the average price of a new vehicle was set to reach a record $38,088 in the first half of 2021, up 10.1 percent over a year ago when pandemic lockdowns brought the U. S. auto industry to a near standstill. “Everyone is comparing (current prices) against the collapse of last year,” Jackson told Reuters on Monday. A year ago, used vehicle prices were depressed as rental fleets rushed to unload vehicles stranded by the plunge in travel, he said. Now, AutoNation is stepping up efforts to acquire used vehicles directly from consumers to meet strong demand. A new AutoNation USA used vehicle store in San Antonio was profitable in its first month of operation, Jackson said. Fort Lauderdale, Florida-based AutoNation’s gross profit per new vehicle jumped 89 percent, to $4,157, in the quarter ended June 30, while the gross profit per used vehicle rose 24 percent, to $2,240. The company had 14 days of supply for new vehicles in the quarter, compared with 49 a year earlier. Adjusted net income from continuing operations came in at a record $4.83 per share, easily beating a Refinitiv IBES estimate of $2.81. Record revenue of $6.98 billion was also higher than expectations. The company said overhead costs in the second quarter were 56.5 percent of revenue, down from 68.9 percent a year ago. Jackson said he expects overhead expenses will be at 60 percent of revenue for the full year, compared to more than 70 percent before the pandemic, as more than half of customers use the company’s online tools to shop and complete steps of a purchase. “We are at a good cost place, and digital capability enabled that,” Jackson said. The company had $1.6 billion of liquidity as of June 30 and said its board had authorized a share buyback worth $1 billion. AutoNation also said it was on track to open four new stores in the US in the second half and 12 new stores in 2022.

 

 59 /102 

0.8
There’s a radio station coming that will play one artist and one artist only

Coming soon to an HD radio, smartphone, smart speaker, or computer near you: All Frank Sinatra, all the time. It will be a service of Saul Levine, owner of Go Country (105.1 FM) and one of the biggest supporters of digital HD Radio in town. The exact launch date is still up in the air, but Levine promises it will be soon. Perhaps as soon as within the week, or even by the time you read this. It will be part of Go Country’s extra digital streams that can be decoded if you have an HD Radio in your home or car, but frankly, it’s almost easier — and often more reliable — to hear such stations using a smartphone app or a smart speaker. When it officially launches, I’ll give more details on how to pick it up. Over the air it will be heard on 105.1 HD3, replacing the current simulcast of K-Jazz (88.1 FM). The new station will be programmed by Pat Welsh and hosted by Jerry Sharell, described by Levine as “America’s authority on Frank Sinatra.” More National Programming Audacy — formerly and better known as Entercom — is following up on its threat, er, promise to regionally and nationally program more stations, effectively destroying their own future.Last year it was alternative and country stations that became one, now it’s top-40. The move means Now FM (KNOU,97.1 FM) will have a morning show out of Phoenix, middays from Chicago, afternoons based local but generic to fit seven other cities in the afternoons and seven cities in the evening at the same time. Corporate radio apologists: please explain how this is any different than satellite radio — but with 20 minutes of commercials per hour? Explain also why anyone would or should listen. June Nielsens Oldies must make people feel good, as KRTH (101.1 FM) once again dominated the Los Angeles Nielsen ratings for the month of June, beating second-place KOST (103.5 FM) by just over a half-point,5.5 to 4.9. Just a half-point down from there was KFI (640 AM) at 4.4, followed by KLVE (107.5 FM) at 4.2 and KBIG My FM (104.3 FM) at 4.1. Alt 98.7 FM beat out competitor KROQ (106.7 FM) by almost a full point,3.2 to 2.3, while KIIS-FM (102.7) beat its closest direct competitor — Now — by almost two full points,3.7 to 1.8. Even below Now was Power 106, at 1.6. Interesting rating, that 1.6. About a full point behind the rating that K-WEST had before the decision was made to change to Magic 106… and lower than Magic had when the decision was made to change to Power 106. Makes you think – why not let Chuck Martin come back to program the station as K-WEST again? I bet he’d beat KIIS at their own game. But I digress… Some of the more interesting ratings came from the bottom of the list: LA Oldies, heard on 105.1 HD2, earned a 0.1 share. Not impressive until you remember that it’s a station that you need s special radio to receive. Same with Roq of the ‘80s on 106.7 HD2: a 0.1 share for a station most people can’t get on their regular radios. Classical on AM? Yes… K-Mozart actually earned a 0.1 share. The online stream for KLOS similarly impressed: a 0.2 share of people listening via online streams, smartphones and smart speakers. Add that to KLOS’s 2.8 share, and KLOS has a total of 3.0. Speaking of which, there is a buzz about KLOS lately regarding a bit of new music. Is KLOS moving more toward active rock? Wouldn’t be a bad idea. To say that KFI dominates the talk format — in addition to all AM stations — would be an understatement. Its 3rd place finish at 4.4 dwarfs all other talk stations in town; the next highest doesn’t show on the list until KRLA’s (870 AM) 28th place 1.4 share. If you include sports talk, KFI still dominates, as the highest-rated sports format is found at 22nd place with KLAC’s (570 AM) 1.6 share. Interestingly, KFI is doing better now than it did comparatively when more listeners tuned to AM than FM. That’s impressive, indeed. Each rating is an estimate of listeners aged 6 and over tuned to a station between the hours of 6 a.m. and 12 midnight, as determined by Nielsen Ratings. 1. KRTH (5.5) 2. KOST (4.9) 3. KFI (4.4) 4. KLVE (4.2) 5. KBIG (4.1) 6. Jack-FM, The Wave (3.9) 8. KIIS-FM (3.7) 9. KLAX (3.6) 10. Alt 98.7 (3.2) 11. KLOS, KNX, KRCD (2.8) 14. KPCC (2.6) 15. Go Country (2.5) 16. KLYY, KROQ, KSCA (2.3) 19. Real 92.3 (2.2) 20. KJLH, KNOU (1.8) 22. KLAC, KLLI, Power 106, KUSC, KXOL (1.6) 27. KCRW (1.5) 28. KRLA (1.4) 29. KDAY (1.2) 30. KBUE, KEIB (1.1) 32. KABC, KFWB (1.0) 34. KDLD, KKJZ (0.8) 36. KFSH (0.7) 37. KWIZ (0.6) 38. KSPN (0.5) 39. KCSN (0.4) 40. KHJ, KTNQ (0.3) 42. KKLA, KLOS Online Stream (0.2) 44. KIRN, KKGO HD2, KMZT, KROQ HD2, KWKW (0.1)

 

 60 /102 

0.4
Rhett And Link Are YouTube Legends. Now They Want To Be Investors, Too.

Y ouTube fame tends to be counted in hours, days, weeks or, possibly, months if all goes really right. It doesn’t often stretch much further—into something delineated by years. Which makes the ongoing nine-year run by comedians Rhett and Link, whose daily show “Good Mythical Morning” counts 17.1 million subscribers, surprising even to them. “It was all so unknown when we were first getting started,” says Rhett,43. “We were very much just focused on, ‘How can we keep doing this and providing for our families?’” “If you had told us about our current situation 15 years ago, I would’ve been elated and extremely relieved,” says Link, also 43. “It’s been scary. Would we have liked more support? Absolutely. Would we have liked to have someone we could have emulated? Definitely.” Rhett, a.ka. Rhett James McLaughlin, and Link, a.k.a. Charles Lincoln Neal III, have already established themselves as YouTube’s grand old men and as two of the platform’s most consistently lucrative stars, staples of Forbes ’ top-earning YouTubers list. (They’ve made it every year since we started the ranking in 2015, most recently landing at No.4 with $20 million last year.) Over the last few years, they’ve increasingly displayed a desire to think bigger than their variety show, and in 2019, they dipped their toes into what remains largely uncharted territory for YouTubers: M&A. Their Mythical Entertainment, the parent company encompassing all their endeavors, spent $10 million to acquire SMOSH, a sketch comedy, improv and gaming YouTube channel with 25.1 million subscribers today. For their next act, they’d like to be investors, too, and they’ve put aside $5 million to start their grandly named Mythical Accelerator fund, using the money to acquire ownership stakes in other social media stars’ businesses. “We've always been interested in building outside of ourselves, building significant enterprises, hopefully, something that looks like a studio with other people who've succeeded in building fandom on the internet,” says Brian Flanagan. He’s Mythical Entertainment’s chief operating officer, a role he held previously at Demarest Media, which produced things like 2016’s Oscar-nominated Hacksaw Ridge. “We think we can invest and then deploy a lot of expertise, advice and growth guidance to people,” he says. “They have developed a major fandom, and their fandom is loyal, highly engaged and growing.” With Flanagan’s help, Rhett and Link aim to be something akin to the venture capitalists who’ve hurriedly shoving money into the influencer industry—the creator economy if you want to call it that—for the better of a year, a group already including names like Andreessen Horowitz and Seven Six, the new VC fund from Reddit cofounder Alexis Ohanian. The attention newly spent on the space is a distinct change from several years ago when Instagram and Facebook seemed to dominate social media, and influencers were seen as Hollywood’s insubstantial cousins. Rhett and Link have already made their first investment: in up-and-coming YouTuber Jarvis Johnson, taking a minority stake in the company he founded as the umbrella over his various revenue streams. Additional terms of the deal weren’t disclosed. Johnson,29, is exemplary of the type of stars Rhett and Link would link to finance. First and foremost, like Rhett and Link, Johnson is advertiser friendly. (This matters a lot: Almost every social media star still makes the majority of their earnings through ads appearing on their videos or some other type of corporate sponsorship.) “I make comedy videos,” he says. “Well, I hope they’re comedy videos.” He’s funny enough to get 1.6 million subscribers following his commentary on internet culture and other YouTubers, a discussion about “what other people are making and what other people are talking about,” he says. His most popular one video, which has almost 10 million views, critiques a YouTube channel called “Five Minute Crafts,” a series Johnson dismisses as peddling “ridiculous clickbait.” “Whenever I see a low-stakes opportunity to goof on something—but also ask, ‘Hey, why does this exist?’—that's the space that I find myself in,” Johnson says. Before seeking out his own internet fame, Johnson worked as a software engineer at Yelp and Patreon, which offers an easy subscription model for creators to use and generate greater revenue. It was at Patreon where he first ran into Mythical Entertainment’s Flanagan in a meeting, a happenstantial moment: Johnson wasn’t supposed to be there and had needed to ask a friend to tag along. (“I was kind of like, sneaking into meetings that I wasn’t supposed to be at,” he admits.) At that point, Johnson was already mulling over whether he should start his own YouTube channel, and he and Flanagan stayed in touch. (“The thing that I really value about his work is that he has got a very wry sense of humor about what’s both good and bad with internet entertainment,” Flanagan says.) The deal discussions kicked up late last year and were carried out mostly over telephone and video chat; Johnson has yet to meet Rhett in person and has met Link only once face to face. Beyond his wisecracks, Rhett and Link also liked Johnson’s interest in extending his brand. In addition to his main YouTube page, he has added five more YouTube channels, a Twitch stream and a podcast he cohosts with a friend, Sad Boyz. He mainly plans to use Mythical’s money to hire a handful of staff to help with production. “For me, the goal with all of this is to build a healthy, sustainable business for myself and for my employees,” Johnson says. Rhett and Link have certainly made their own relationship endure. The pair met in the first grade at Buies Creek Elementary School in Harnett County, North Carolina and later roomed together at North Carolina State, where Rhett studied civil engineering, Link industrial engineering. For a time, Rhett worked at Black & Veatch, a Kansas City engineering firm, while Link went to IBM. They grew bored and decided to gamble on YouTube in 2012, securing a place for themselves there in the preceding years with an enthusiasm for bits like their food challenges—a fish-bait taste-off one day, a game guessing whether an item came from Whole Foods or a dollar store on another. They’ve since expanded to several podcasts; a subscription-based fan club (starting at $5 a month); and a merchandise line that includes Mythical-branded beard oil, aprons and combs, among many other items. The pair say they’ll use the Mythical Accerlator fund to invest in influencers based on any social platform, not just YouTubers. But they are keen to see potential recipients displaying a reach across several sites—hopefully including YouTube, which still offers creators the best avenue to earning money through ad revenue sharing agreements. They’re still considering exactly how sizable a creator’s audience and revenue should be to merit an investment. “We want to find the other creators out there who want to cross the same bridges we’ve crossed, answer the same questions we have, build teams around themselves—and build a brand,” Rhett says.

 

 61 /102 

0.8
Clippers Veteran Dubbed ‘Most Likely’ to Be Traded This Offseason

Getty Kawhi Leonard and Rajon Rondo of the LA Clippers. The Los Angeles Clippers sent former Sixth Man of the Year Lou Williams, along with two future second-round draft picks to the Atlanta Hawks in late March to acquire veteran point guard Rajon Rondo. The goal for L. A. was to improve upon the sometimes-shoddy defense Williams played while also adding a proven winner with strong postseason acumen in Rondo. A two-time NBA champ (he won with the Boston Celtics in 2008 and again with the Los Angeles Lakers last year), the Clips had hoped they’d be getting some of the “ Playoff Rondo ” magic the veteran had displayed so many times before. But instead, Rondo averaged a career-worst 4.2 points in his 13 postseason games with the Clips (his career average in the playoffs is 12.5 points), and L. A. drew criticism for making the trade in the first place. Now, one analyst thinks Rondo may be on the move again. Follow the Heavy on Clippers Facebook page for the latest breaking news, rumors and content out of Clipper Nation! Follow Heavy on Clippers In his 18 regular season games with the Clippers, Rondo averaged 7.6 points,3.1 rebounds and 5.8 assists. There were moments when he made a definite impact, but they were few and far between. Grant Hughes of Bleacher Report thinks Rondo’s days with the Clips may be numbered: The Los Angeles Clippers’ offseason focus should be on free agency,” Hughes began. “They’ve got to decide what to offer Kawhi Leonard, assuming he declines his player option ahead of a season he may spend—partially or entirely—rehabbing a torn ACL. After that, they’ve got Reggie Jackson and Nicolas Batum’s unrestricted status to fret over. Both will command raises above last year’s rates. If L. A. manages those concerns, it can turn its attention to a trade. Marcus Morris Sr. ($15.6 million), Patrick Beverley ($14.3), Luke Kennard ($12.7), Serge Ibaka ($9.7 million player option) and Rajon Rondo ($8.3 million) could all be part of a deal to add a starrier name. The idea Ty Lue and company will be looking to add a more marquee name this offseason has been circulating for months, and it doesn’t seem like a stretch at all to assume Rondo could be shipped off as part of a package deal. If that happens, it would be the shortest stint of his 14-year career. Hughes cited Rondo’s hefty price tag in relation to his lackluster production as a primary reason the Clips may want to part ways with him. “Rondo seems most dispensable,” Hughes wrote . “Jackson shone in the playoffs, and if he and Beverley are both back, Rondo is a costly third point guard who’ll be playing his age-35 season. Worse than Jackson offensively and Beverley defensively, Rondo may not play enough to justify his salary. Kennard is a capable facilitator as well, which only further marginalizes Rondo’s on-court value. The Clips may not trade anyone at all, but of their options, Rondo makes the most sense.” With superstar Kawhi Leonard out for an indefinite amount of time recovering from knee surgery, the Clippers are going to need to address their lineup in a big way this offseason. We’ll see if Rondo is a part of the shuffle yet again. READ NEXT: NBA Insider: Leonard Surgery a ‘Positive’ for Clippers Title Hopes

 

 62 /102 

0.1
AOC Invests Heavily in Her Swag Shop

New York’s Rep. Alexandria Ocasio-Cortez says she is a “Democratic Socialist.” But she is also trying to make money from products leveraging her brand to sell swag to the masses, according to the Daily Caller. Ocasio-Cortez was just Sandy the bartender a few years ago. She’s come a long way since then. Now she’s living the American dream, making big bucks, and influencing the world’s most powerful nation to become socialist. Socialism is just slavery with better branding, and that’s branding Sandy seeks to turn into a fortune. AOC is a socialist but all socialists are really capitalists in that they desire wealth and power for themselves, they just alter societies to cater to their whims and fancies in different (less moral) ways than most capitalists. Whatever those ways turn out to be, riches follow — as long as they’re the ones who come to power, anyway. Hugo Chavez led the socialist takeover in Venezuela. That once-rich country is now dirt poor, but he also died a near-billionaire. Fidel Castro led the Cuban revolution, putting communism in power 90 miles off America’s shores and putting himself in charge. He broke that beautiful country but died a near-billionaire. He also executed and imprisoned thousands along the way, and left his country so many decades behind technologically it may as well have been frozen in amber. It’s good to be the commie king. Here in America, our socialists may be the most capitalist of all the socialists. They openly hate the country that makes them rich, which if they succeeded in destroying, would make the wealth they pile up worthless. We have Bernie the wealthy socialist bookseller. AOC the big-spending socialist swag queen. Marxist critical race theory is a multimillion-dollar business for consultants such as Joyce James even deep in the heart of Texas. Castro and Chavez were both brown people who oppressed other brown people, which fundamentally discredits CRT, but CRT consultants rake in too much cash to fret over such details.

 

 63 /102 

0.1
A Guide To Putting Your Money To Work

I f FOMO plagues you as you scan headlines about the stock market soaring to new highs, you’re not alone. A recent survey by FINRA Investor Education Foundation and CFA Institute found that 43% of Millennials don't have any investment accounts. That alarmingly high statistic highlights not only shortcomings in financial literacy but also barriers to investing that many face, including high levels of student loan debt and stagnating wages. Many Millennials also had their first exposure to the stock market during the Great Recession, which made many wary of the markets. However, today, there are more options than ever to get started with investing. Jump-start the process with these smart money moves.

 

 64 /102 

0.3
Analysis: Democrat ‘Infrastructure’ Bill to Cost $5.4 Trillion

The Committee for a Responsible Federal Budget found that the Democrat “infrastructure” bill would cost $5.4 trillion, which is much more expensive than initially projected. Senate Minority Leader Chuck Schumer (D-NY) plans to move forward with a partisan infrastructure bill that they claim would cost $3.5 trillion. However, according to the Committee, the proposal could cost “far more” than the Democrats’ projection. Instead, the nonpartisan organization projects that the bill would cost $5.4 trillion over a decade and that Democrat lawmakers intend to use “arbitrary policy sunsets” or “budget gimmicks” to hide the true cost of the bill. The Committee detailed some of the Democrat “infrastructure” bill’s more expensive provisions, which notably, does not amount to physical infrastructure. This includes: The Committee wrote in the analysis, “It would be unwise and irresponsible to use arbitrary expirations and sunsets to obscure the true cost of this legislation.” Marc Goldwein, the senior vice president of policy for the Committee, said Monday that Democrats plan to hide the cost of the Democrat infrastructure bill by having some programs and tax breaks expire. Goldwein said, “the new $3.5 trillion budget agreement appears to have enough policies to cost $5 – $5.5 trillion over a decade. Lawmakers plan to hide the package’s true cost by having some programs and tax breaks expire early.” 🚨 BREAKING🚨 – the new $3.5 trillion budget agreement appears to have enough policies to cost $5 – $5.5 trillion over a decade. Lawmakers plan to hide the package;s true cost by having some programs and tax breaks expire early. From @BudgetHawks – https://t.co/fCChJ4QMNC Marc Goldwein – GET VAXXED (@MarcGoldwein) July 19, 2021

 

 65 /102 

1.0
Target offering teachers 15% discount on classroom supplies through July 31

Heads up, teachers! Educators are eligible for a discount at Target right now as back-to-school season is right around the corner. For the fourth year in a row, teachers can receive a 15% discount on select classroom supplies and essentials as part of Target's Teacher Prep event. According to a press release from the retailer, all K-12 teachers, homeschool teachers, teachers working at daycare centers and early childhood learning centers, university or college professors and vocational/trade/technical school teachers are eligible. Teachers can access the discount via Target Circle, the retailer's loyalty program. The offer runs from now through July 31. The discount can only be used on one purchase.

 

 66 /102 

0.2
Maine House upholds Gov. Mills’ veto of bill to create consumer-owned utility

AUGUSTA — Lawmakers in the Maine House on Monday upheld Gov. Janet Mills’ veto of a bill seeking to force the sale of the state’s two largest electric utilities. The 68-65 vote in the House was well short of the two-thirds margin that would have been needed to override Mills’ veto of a bill that would have dramatically reshaped Maine’s electricity landscape. However, supporters of the push to create a large, consumer-owned utility in Maine have pledged to work to send the issue directly to voters next year via a statewide referendum. Mills vetoed the high-profile and controversial bill last week, claiming the proposal to create a Pine Tree Power Company from the assets of Central Maine Power and Versant Power was “hastily drafted and hastily amended.” In her veto letter, Mills raised concerns about the proposed company’s board of directors as well as the costs of protracted litigation and delayed investment in the grid during what she called a “hostile takeover of the state’s utilities.” Bill sponsor Rep. Seth Berry, D-Bowdoinham, said he agreed with Mills’ letter on one key point: That the legislation is “arguably one of the most consequential every to be considered by the Legislature — a bill the impact of which would touch the lives of every Maine citizen in serious, substantial and fundamental ways.” But Berry said a “consumer-owned business model is far better suited to the complex and urgent needs of our energy future” and will give ratepayers more control. Berry said the bill, L. D.1708, would “free our people from energy captivity” under the foreign companies that own CMP and Versant. “Our monopoly grid will soon power every aspect of our lives,” Berry said in a floor speech. “It is the lifeline of our shared energy future. It is possibly the most critical infrastructure of tomorrow, essential to our security and our survival.” Opponents, meanwhile, suggested the bill would create a dangerous precedent by forcing two private companies to sell billions of dollars in assets to the Pine Tree Power Company. “If we don’t like way our cable companies are run, are we going to have state-owned cable?” asked Rep. Bruce Bickford, R-Auburn. “Are we going to have state-owned newspapers if we don’t like what they write? Are we going to have state-owned grocery stores? This is something that Russia does, China does, Venezuela does. Is that direction we want to head?” The outcome of the House vote on Mills’ veto was widely expected given the relatively narrow margins with which L. D.1708 passed the House and Senate. Not long after the House vote, an organization supporting the bill, Our Power, said they are ready to begin collecting the signatures needed to place a consumer-owned utility question on the statewide ballot in 2022. “While politicians in Augusta have failed to let Maine ratepayers weigh in on this important question this year, we will make sure that voters’ voices are heard in 2022,” said Stephanie Clifford, campaign manager for Our Power. Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page. Enter your email and password to access comments. Forgot Password? Don't have a Talk profile? Create one. Invalid username/password. Please check your email to confirm and complete your registration. Create a commenting profile by providing an email address, password and display name. You will receive an email to complete the registration. Please note the display name will appear on screen when you participate. Already registered? Log in to join the discussion. Only subscribers are eligible to post comments. Please subscribe or login to participate in the conversation. Here’s why. Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code. Send questions/comments to the editors.

 

 67 /102 

0.0
Mark Hoppus Shares A Promising Update About His Cancer Treatment

Mark Hoppus offered a positive update surrounding his cancer diagnosis, writing on Twitter, “Scans indicate that the chemo is working,” though he “still has months of treatment ahead.” The full statement reads, “Scans indicate that the chemo is working! I still have months of treatment ahead, but it’s the best possible news. I’m so grateful and confused and also sick from last week’s chemo. But the poison the doctors pump into me and the kind thoughts and wishes of people around me are destroying this cancer. Just gonna keep fighting…” pic.twitter.com/1MhfxvTXVh ϻ𝔞Ⓡ𝔨 𝐇𝑜Ƥ𝐩ย𝓼 (@markhoppus) July 19, 2021 A few days ago, the Blink-182 bassist and singer revealed what specific cancer he was battling, telling Chilean fans in a Q&A that he had been diagnosed with “diffuse large B-cell lymphoma.” He continued, “My classification is stage IV-A, which means, as I understand it, it’s entered four parts of my body. I don’t know how exactly they determine the four part of it, but it’s entered enough parts of my body that I’m stage IV, which I think is the highest that it goes. So, I’m stage IV-A. […] The cancer isn’t bone-related, it’s blood-related. My blood’s trying to kill me.” pic.twitter.com/1MhfxvTXVh — ϻ𝔞Ⓡ𝔨 𝐇𝑜Ƥ𝐩ย𝓼 (@markhoppus) July 19, 2021 Hoppus first shared the news that he was undergoing cancer treatment back in June. “For the past three months I’ve been undergoing chemotherapy for cancer,” he wrote on social media. “It sucks and I’m scared, and at the same time I’m blessed with incredible doctors and family and friends to get me through this.” He added, “I still have months of treatment ahead of me but I’m trying to remain hopeful and positive.” Blink-182 is a Warner Music artist. Uproxx is an independent subsidiary of Warner Music Group.

 

 68 /102 

2.5
Personalization: How to Not Annoy the Customer

Performance Marketing Performance Marketing Awards & Honors Direct Mail Marketing Email Marketing Mobile Marketing Search Engine Marketing Search Engine Optimization &copy2021 Adweek - All Rights Reserved. Do not sell my personal information Terms of Use Privacy Policy

 

 69 /102 

0.7
Luxury menswear brand Ermenegildo Zegna to become a public company

Luxury menswear brand Ermenegildo Zegna plans to become a publicly traded company on the New York Stock Exchange. The century-old, family-controlled business said Monday it will go public via a blank-check company run by the European investment firm Investindustrial, which is providing the company with $880 million in cash to pursue acquisitions. The deal will value the company at about $3.2 billion including debt and the Zegna family will continue to run the business, retaining a 62-percent stake, according to reports. Chief executive Gildo Zegna, who is the grandson of the founder, said the company “wants to consolidate,” signaling that the company is eyeing an acquisition spree in the luxury niche, according to a New York Times report citing a call with journalists Monday morning. In 2018, Zegna acquired the Thom Browne label. It said it also needs capital to expand its footprint, which includes 300 stores globally. The company has two stores in the Big Apple, including in Brookfield Place in lower Manhattan and one at 4 West 57th St. where the company sell $450 jeans, $750 suede sneakers and $345 short sleeve cotton polo shirts. “Today’s announcement underscores the success of our strategy of continuously focusing on the group’s brand equity while also continuing to build upon our heritage, our ethos of sustainability, and the unique craftsmanship that has made our name synonymous with quality and luxury around the world,” Zegna said in a statement. “Our goal now is to support Zegna in this important new chapter of its history while opening the opportunity to the public to invest in one of the last great iconic independent luxury brands,” Sergio Ermotti, chairman of the Investindustrial SPAC, said in a statement.

 

 70 /102 

0.6
Bernie Sanders Is the Real Force Behind the $3.5T Reconciliation Bill

When the idea of the reconciliation bill was originally floated in June, Sen. Bernie Sanders (I-Vermont) had an ambitious price tag in mind: $6 trillion. And, though the reconciliation bill currently in discussion is $3.5 trillion, senators say that the bill isn’t smaller because of Sanders. Though it’s yet unclear what exactly is in the reconciliation bill, lawmakers like Sanders and Majority Leader Sen. Chuck Schumer (D-New York) have celebrated it, saying it would be the largest and most consequential measure if it passes Congress. The full bill has yet to be unveiled. But it contains some significant Democratic benchmarks like Medicare expansion, major climate provisions, tax hikes on the wealthy and parts of the pro-union PRO Act, which has been hailed by labor advocates as crucial legislation to protect the working class. It’s thanks to Sanders that Democrats have been able to include as many of their agendas items as they have, senators say. Senators on the Budget Committee told Politico recently that they see the committee chair’s $6 trillion benchmark as a negotiation tactic and that, if he had originally proposed a smaller bill, the Democrats would be looking at a much smaller price tag than $3.5 trillion. “Bernie Sanders is like a human embodiment of shifting the Overton Window,” Sen. Tim Kaine (D-Virginia), who is on the Budget Committee, told Politico. “We wouldn’t be there without him putting out $6 trillion.” Though Sanders had originally rejected a smaller price tag than the $6 trillion of his proposal, he has said that $3.5 trillion is still enough to fit everything he wanted to get passed — though for a shorter period of time than he would like. That means that there could still be future fights over renewing some of the proposals in the bill, writes Politico. Over the past months, Sanders has been exercising a much stronger influence over the White House and Washington at large than he previously has. He has a close relationship with the White House and President Joe Biden, who is receptive and supportive of Sanders’s ideas. Last week, the two had an extended meeting in which Sanders discussed the need for Biden to go bigger on his infrastructure bill. Biden’s original infrastructure proposal was $4 trillion — Sanders argued for his $6 trillion proposal, which the president was open to. The two also talked about uniting the party in support of the reconciliation bill. Though Biden’s support doesn’t always lead to results (Sanders talked to the White House constantly during the $15 federal minimum wage fight earlier this year to no avail), it signals an openness from Democratic leadership to progressive ideals. It also signals a shift from Sanders being a political outsider to being a dealmaker within the Democratic caucus. The largest hurdle for Democrats to cross now on the reconciliation package is the conservative plank of the party. Winning the approval of people like Sen. Joe Manchin (D-West Virginia) may prove difficult; and there’s already a fight brewing within the party over proposals to allow Medicare to negotiate drug prices. Schumer is evidently prepared to move on with both the reconciliation and bipartisan infrastructure bills, however. The majority leader is expected to file cloture on the infrastructure bill on Monday, setting up a procedural vote on the matter later this week. The bipartisan group is still negotiating specifics of the bill — evidently, there’s still debate about something in every spending category. Meanwhile, Schumer is also preparing to get all 50 Democrats on board with the reconciliation bill by the end of this week. Sharon Zhang is a news writer at Truthout.

 

 71 /102 

0.4
Sixers Insider Ignites Controversial Debate on Bucks Star

Getty Bucks point guard Jrue Holiday guarded by Suns star Devin Booker in the NBA Finals. It’s been almost a decade since the Philadelphia 76ers jettisoned Jrue Holiday for Nerlens Noel and a first-round pick. Revisionist history suggests it was a lop-sided trade, one of the worst in franchise history. It’s not. In fact, it could be argued that the Sixers fleeced the New Orleans Pelicans in the deal. They received two top-10 players for a one-time All-Star stuck on a mediocre team. Trading Holiday earned them multiple draft assets – the tentacles of this trade stretch deep, wrote The Rights to Ricky Sanchez – and seemingly kicked off “The Process.” Names like Dario Saric, Elfrid Payton, Michael Carter-Williams, Justin Anderson altered the space-time continuum. Fast forward to 2021 and Holiday has been a force for the Milwaukee Bucks in the NBA Finals. He’s averaging 17.6 points,9.0 assists,5.6 rebounds per game after a dominant Game 5 performance. It has reopened the debate over whether the Sixers should have traded Holiday in 2013. One of the leading nay-sayers has been long-time NBA reporter Dei Lynam of NBC Sports Philadelphia and her criticism has drawn the ire of loyal “Process” defenders everywhere. If the great Harry Kalas was calling this game I can hear it “Jrue Holiday you are the man.” He was Sam Hinkie’s first trade as President of 76ers for Nerlens Noel. I’ll leave it at that. Dei Lynam (@dlynamCSN) July 18,2021 Here's the roster for that last 76ers' team before Jrue was traded for 1st rd picks. Who is Jrue leading to the playoffs with that capped roster & no 1st rd picks in 2 of the next 3 drafts. Who do you keep that continues to keep them capped & mediocre? Where do you improve? pic.twitter.com/6ft0fO7HKC — BelmontShore (@BelmontShore) July 18,2021 Because it led to the process? — Dei Lynam (@dlynamCSN) July 18,2021 It’s weird that Dei covered the Sixers during that time and doesn’t seem to know the context of situation, or the trade. — CGhi (@GallagherArtist) July 18,2021 And Lynam wasn’t the only local media personality critiquing the Holiday trade. SportsRadio 94WIP’s Howard Eskin took aim at the Sixers’ general manager at the time, Sam Hinkie, referring to him as “Scam Hinkie” while comparing Holiday to Ben Simmons. Holiday is the better player, per Eskin. Sixers fans were quick to point out that Philly passed on Phoenix Suns starter Mikal Bridges in 2018. Got couple observations after #Bucks win Gm 5 of #NBAFinals. #Sixers first trade starting process under Scam Hinkie trading Jrue Holiday. Now one of best PGs in league and he’s so much better at position than Ben Simmons. Not close. — Howard Eskin (@howardeskin) July 18,2021 I still can’t believe the Sixers drafted Mikal Bridges and then immediately gave him away. — Bryan Toporek (@btoporek) June 20, 2021 The latest Sixers news straight to your inbox! Join the Heavy on Sixers newsletter here! Join Heavy on Sixers! There were quite a few people – fans and media alike – who rushed to the Sixers’ defense regarding the Holiday trade. Why are we revisiting a trade from eight years ago? Especially when Holiday was sitting out there as a restricted free agent this past offseason. All the Sixers or any other team had to do was outbid the Bucks. Instead, Milwaukee locked him up to a max contract extension worth $160 million. If you’re revisiting a trade from eight years ago — believing that said player would’ve still been here all these years later — I don’t know what to tell you. If you want to argue that the Sixers should’ve outbid the Bucks for him this offseason, that’s a much better discussion. — Paul Hudrick (@PaulHudrick) July 18,2021 Can we just be happy for Jrue Holiday and not have a pointless reexamination of a trade that happened almost 10 years ago? #Sixers — Rashaan Josey (@Rashaan) July 18,2021 Jrue is really, really good but there’s no world where he’s the franchise guy on a team winning a title. The reason the Sixers are where they are isn’t because of trading Holiday, like at all. People forget there was a 2-3 season period where they added nothing of long-term value https://t.co/UiQj0xy9e1 — Harrison Grimm (@Harrison_Grimm) July 18,2021 Holiday was arguably the best player on the court on Saturday night, dropping 27 points and dishing out 13 assists. The 31-year-old point guard also made the play of the night when he lobbed a perfect alley-oop to Giannis Antetokounmpo with 16.7 seconds left. “My dad thinks I’m the best player in the world,” Holiday told reporters after Game 5, via ESPN. “He just feels like I can do everything – play 48 minutes, I don’t need to come out, I don’t need a break. But really just be aggressive the whole game.” The Sixers drafted Holiday in the 2009 NBA draft with the 17th overall pick. The UCLA product burst onto the scene in 2013 and scored a career-high 35 points on Jan.26. The 22-year-old became the youngest player in franchise history to make the All-Star team when he earned a reserve spot for the Eastern Conference. Holiday spent four seasons in Philadelphia and averaged 13.4 points,5.8 assists,3.6 rebounds in 32.9 minutes per game. Hinkie eventually traded Holiday and a 2013 second-round pick (turned out to be Pierre Jackson) in exchange for Nerlens Noel and a 2014 first-round pick (turned out to be Elfrid Payton). The Sixers flipped those assets and acquired Dario Saric, another first-rounder and a 2015 second-rounder during subsequent “Process” wheelings and dealings. Photo-Shopping Jrue Holiday into a Sixers Uniform pic.twitter.com/89xeB0KKyX — Sixers Nation (@PHLSixersNation) September 18,2020

 

 72 /102 

0.1
Reparations legislation advocates push for new government commission, but short on specifics

Three advocates for slavery reparations legislation acknowledged that they do not know who should be eligible or how to finance compensation, with one supporter comparing American slavery reparations to those paid out by Germany after the Holocaust in World War II. In separate sit-down interviews with Fox News, Del. Eleanor Holmes Norton, D-D. C.; Wanika Fisher, a Maryland General Assembly delegate representing Prince George’s County; and Nkechi Taifa, a member of the National African-American Reparations Commission, all voiced support for legislation to establish a commission to study reparations. But they offered few specifics when pressed on how they would implement such a compensation program. Reparations are an "attempt to compensate for years of slavery, which put African Americans behind in wealth, education and almost everything else that White Americans experienced when they came to this country simply for being White," Norton told Fox News. CALIFORNIA TASK FORCE HOLDS FIRST MEETING TO STUDY REPARATIONS FOR SLAVE DESCENDANTS Norton co-sponsored H. R.40, a federal bill that would establish a commission to study reparations but includes limited details. "This bill was written correctly, without specifics, because, to be frank, no one knows what we’re talking about, who exactly we’re talking about, what form it should take," Norton said. "No one knows off the top of their head who would be eligible and why," Norton continued. "And no one knows whether reparations is the appropriate remedy. That’s what you need a commission for." Taifa, who has been active in the reparations advocacy community for decades, said "the privilege that White people in [America] enjoy is called ‘White skin privilege'," and that White Americans have benefitted from "a state and a social structure that is governed by White supremacy." She also agreed that a federal commission should decide reparations specifics. "It’s for a federally chartered commission to study all of the information, gather all of the evidence and make recommendations. They will make the recommendations as to who, what, when and where," Taifa said. Fisher, who also voiced support for H. R.40, introduced her own bill in the state assembly that relies on a commission to determine specifics. "The bill in Maryland would set up a commission to not just study it, but it's to actually come up with the way reparations would look and work in Maryland and to figure out who should sit on that board to actually then execute reparations to descendants of Maryland slaves," said Fisher, who was elected to the General Assembly in 2018. Fisher said reparations can take shape in many different forms and listed various methods. "There’s obviously direct money payment – would be payment for basically lost wages and the fact that your descendants did work and were never paid and were obviously enslaved," Fisher told Fox News. Fisher said other options could include "free tuition" and "the ability to take out loans without having to put down any sort of deposit or down payment." In June, Robert Johnson, who founded Black Entertainment Television, put a $14 trillion price tag on reparations. But Taifa said no amount of compensation can make up for the damages caused by slavery. "There’s no question that Whites in this country enjoy the benefits of over 400 years of unjust enrichment," Taifa said. "No amount of monetary damages could fully compensate for the atrocities of the enslavement era and everything that’s happened since then." Americans who believe they shouldn't be forced to pay for reparations because their ancestors either didn't own slaves or weren't in the U. S. during slavery should look to post-World War II Germany, Fisher suggested. "When I look at Germany in their program, when it comes to the Holocaust there, there are tons of Germans that didn't do anything wrong to Jews that weren't, you know, Nazi sympathizers, weren't part of that, but they're paying into it and the German government to make things right," Fisher told Fox News. Norton, who has served as Washington, D. C.’s lone delegate since 1991, said she supports funding reparations with taxpayer money. "I would be for the money coming out of the Treasury, where everyone has been taxed, from corporations to individuals," Norton told Fox News. But, not all Americans agree reparations are the best solution. Only 28% of White Americans support reparations, an April UMass/WCVB poll found. "I don't think you're going to get White Americans to support reparations until we get this commission set up and people can find out what it's all about," Norton said of the polling during her interview with Fox News. Congress has previously approved financial payments for past wrongdoings perpetrated by the U. S. government. President Ronald Reagan signed the Civil Liberties Act in 1988, which gave reparations to Japanese Americans held in internment camps during World War II at the direction of President Franklin D. Roosevelt. Fisher hinted that reparations, if approved, could be paid out for years to come. "I think to heal what has gone on for slavery, Jim Crow, redlining, all of that, it's not going to be a year. I think it's going to be a long-term process because the damage was long-term."

 

 73 /102 

0.2
Organizing a Union in the Disorganized World of Small Restaurants

Worried about returning to work during a pandemic and galvanized by the racial-justice protests throughout their city,17 cocktail-room employees at Tattersall Distilling in Minneapolis told the owners during a staff meeting in June 2020 that they intended to form a union. They wanted personal protective equipment, overtime pay and antiracism training. “We all felt a sense of urgency and, I mean, legitimate fear,” said Krystle D’Alencar, a bartender and server. “Many of us, including me, live paycheck to paycheck.” The owners, Jon Kreidler and Dan Oskey, pushed back on Tattersall’s social media accounts: “We don’t believe a union is necessary, nor is it in the best interest of our employees or our company.” But two months later, after much organizing and the threat of a boycott by customers who supported the effort, the employees voted for a union,19 to 3. They receive regular requests from restaurant workers around the country asking how to start their own. And Tattersall’s owners say they are working to reach a contract deal as quickly as possible. “This is our first time going through” a union drive, Mr. Kreidler said last week. “We realize this is the employees’ decision. We support their decision.” The past year and a half has been a watershed for labor organizing, as the pandemic and a national discourse on racial equity have turned a harsh spotlight on low pay and poor working conditions across the American economy. One of the most surprising places those campaigns have surfaced is independent restaurants, bars and bakeries, where unions are rare. In March, employees of Colectivo Coffee, which has 18 locations in Chicago and Wisconsin, held an election to form their own union; it ended in a 99-99 tie, and the union that is working to represent them, the International Brotherhood of Electrical Workers Local 494, is now fighting to have challenged ballots included in the count. At JuiceLand, a small Texas chain, about 40 employees went on strike in May after several workers called in sick, forcing some of the remaining production staff to work long shifts on Mother’s Day. While they try to drum up support for a union among the other 500 or so workers, the company has raised wages for hourly workers. “Honestly, in my 20 years of organizing, I have never seen such a willingness” to organize among restaurant workers, said Saru Jayaraman, the president of One Fair Wage, a national advocacy group for service workers and the director of the Food Labor Research Center at University of California, Berkeley. How successful and long-lasting these efforts will be, however, remains unclear. The nascent unions are testing grounds where workers will learn over time whether, or how, they can change a decentralized industry. Substandard wages, long hours and little to no benefits have become norms in the restaurant business. And in 2020, food service had one of the lowest unionization rates of any American economic sector — 1.2 percent, versus an average of 10.8 percent for all wage and salary workers, according to the U. S. Bureau of Labor Statistics. At the pandemic’s onset, as diners rushed to support local restaurants with delivery orders and gift card purchases, many workers felt that no one was looking out for their well-being, or even safety. “This pandemic gave us all time to sit and reflect on how the hell we were able to get cut down to this place of life or death so quickly and easily,” said Mx. D’Alencar,34, the Tattersall Distillery server. Establishing a union is a complicated process that can take years: It typically involves creating an organizing committee, getting workers to sign union cards, winning an election and successfully negotiating a contract. Unionizing restaurants is even harder, said Natalia Tylim, a server at a West Village restaurant and a founder of the Restaurant Organizing Project run by the Democratic Socialists of America. High turnover makes it hard to build an employee base. Divisions frequently arise between workers in the dining room and those in the kitchen, who are often compensated differently. Because operations vary from restaurant to restaurant, there isn’t a one-size-fits-all contract. Independent restaurants pose their own special barriers: Their staffs can be too small to attract interest from existing unions, and because employees often have personal relationships with managers and owners, they may be unwilling to rock the boat. “People feel an allegiance to a small business because it is the underdog,” Ms. Tylim said. “There is a dynamic in the workplace where people feel genuinely, or performatively, like a family.” Yet it’s these small businesses that often don’t have mechanisms that help employees report harassment or ask for raises. “The worst conditions I have worked in have always been the smaller restaurants, personally,” said Diego, a line cook in Queens who declined to give his surname for fear of losing his job. The pandemic, and the difficulty many restaurants now face in hiring, present a distinct opportunity for unions, Ms. Tylim said. Workers “are starting to think about what they contribute, what they are worth.” In February 2020, before the lockdowns began, the renowned Tartine Bakery in California made headlines after its workers — dissatisfied with their pay and what they called the management’s lack of transparency — announced their intent to unionize. They narrowly won an election, but challenges to several ballots held up the process until last March, when the results were certified and the union prevailed. The unit expects to begin negotiations soon on a contract, said Matthew Torres,24, a former Tartine barista who still belongs to the union. Because Tartine is well-known nationally, he said, its union has served as a powerful propellant for organizing elsewhere. Employees at some restaurants opt to join a larger union to tap into its many resources, as Tartine’s did with the International Longshore and Warehouse Union. For both the longshore union and Unite Here Local 17, unionizing restaurants and other food businesses is relatively new territory. During the pandemic, restaurant workers “were interested in organizing in a way they weren’t before,” said Sheigh Freeberg, the secretary and treasurer of Unite Here Local 17. What’s distinct about many of these fledgling drives, Mr. Freeberg added, is that they are not taking on corporations worth millions of dollars. Most independent restaurants operate on slim profit margins. For those workers, “it is about respect on the job, or being able to have your schedule ahead of when it comes out,” he said. “Stuff that doesn’t cost any money.” Still, many recent organizing efforts stalled or failed. After working at N7, a French bistro in New Orleans, for more than three years, Luna Vicini was fired last October from her job as floor manager, with a note saying that the business needed a manager who prioritized profitability. She believes it was because she had organized workers around concerns about pay, transparency and safety protocols. (The company did not respond to requests for comment.) Following Ms. Vicini’s exit, she said, nine employees went on strike; the restaurant shut down for several days before the owners, Aaron Walker and Yuki Yamaguchi, reopened with a mostly new staff. Ms. Vicini hoped to get her job back and help unionize N7, but the strike fizzled as some employees returned to work or took jobs elsewhere. “I think that people left the strike because they couldn’t see what it would be like if it worked out,” said Ms. Vicini,31. “And they could see what it would be like if it didn’t work out.” At American Beauty, a steakhouse in Venice, Calif., six servers and two former employees picketed the restaurant last March after the owners reduced the percentage of the tip pool allocated to servers and other front-of-the-house workers. The restaurant said the move was intended to give the kitchen staff a bigger share of that pool; the picketers said the business should simply raise wages for kitchen workers. Sam Sachs, a former server who joined in the strike, said he couldn’t rally enough interest in a union. Not everyone, he said, has the financial security to take the risk of speaking out. Servers “are some of the highest-paid hourly employees in the industry,” said Mr. Sachs,25. “ That does afford us the privilege to be able to demand our dignity, because maybe we have been able to save potentially a little more.” But a union-organizing drive can fall short and still engender change. In July 2020,19 employees at Cork & Fork, an Italian restaurant with two locations in central Pennsylvania, tried to form a union to address pay, communication and scheduling. They brought it to a vote, and lost. But the owners later convened an all-staff meeting where workers could voice their concerns, and removed a manager whom employees had complained about. “They know we will just keep trying to unionize if things don’t change,” said a server, Tiffany Ramsey,35. To help coalesce workers across many restaurants, citywide groups have formed recently in places like Detroit, Memphis and New York. The Restaurant Workers’ Council in New York, founded by 12 restaurant employees in March 2020, aims to force the creation of a multi-employer bargaining unit. They plan to picket several employers one by one, creating an incentive for the owners to bargain together. “If you are only focused on the restaurant at hand that you work at, you are narrowing the scope of your own reach,” said Jason,42, a council member, who did not provide his surname for fear of losing his job as a waiter in a Brooklyn restaurant. One worker at a Michelin-starred restaurant in Manhattan, who asked not to be identified because she is undocumented, said that even though employees like her are often paid the least because of their vulnerable status, she has long been afraid to join a union drive at her workplace. Now, as a member of the Restaurant Workers’ Council, she feels there is safety in numbers. But Ms. Jayaraman, of One Fair Wage, believes that unionizing can be an inefficient means for creating industrywide change. “We don’t think you can organize shop by shop by shop,” she said. She would prefer that workers and owners push for federal policies like raising the minimum wage. At Augie’s Coffee, a small chain in Southern California, employees chose the union path, with different results for different workers. About 45 of them began organizing in May 2020, saying that the owners, Austin and Andy Amento, had repeatedly denied wage increases and abruptly tried to fire several workers during the pandemic. That July, the Amentos shut all five locations, eventually making the closings permanent. (They did not respond to requests for comment.) A few months later,16 former employees started their own coffee shop, Slow Bloom, which will open this fall in Redlands, Calif. Workers share in the ownership and profits, and have formed a union that bargains with an elected executive board. “It is all good and well to say you want everyone’s voice to be heard,” said Matthew Soliz, a Slow Bloom worker who helped lead the union drive at Augie’s. But then you have to translate a union’s demands into a sustainable business. “I have only ever made lattes,” said Mr. Soliz,29. “I am learning all of this live.”

 

 74 /102 

0.6
Dollar up

The U. S. dollar is up against other North American currencies in New York trading. It’s worth 1.28 Canadian dollars, up from late Friday. And the dollar is trading at 19.95 Mexican pesos, up from late Friday. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

 

 75 /102 

0.5
Moody's places Sri Lanka's Caa1 rating under review for downgrade

Global rating agency Moody's today placed the Government of Sri Lanka's “Caa1” foreign currency long-term issuer and senior unsecured ratings under review for downgrade. The rating decision is driven by assessment that the island nation's increasingly fragile external liquidity position raises the risk of default. It also reflects governance weaknesses in the ability of the country's institutions to decisively mitigate significant and urgent risks to the balance of payments. Although the government has secured some financing, mainly from bilateral sources, its financing options remain narrow with borrowing costs in international markets still prohibitive, Moody's said in a statement. Moody's expects Sri Lanka's foreign exchange reserves to continue declining from already low levels. This will further erode its ability to meet sizeable and recurring external servicing needs, and increasing balance of payment risks. It has extremely weak affordability with interest payments absorbing a very large share of the government's very narrow revenue base. This compounds the debt repayment challenge. The review will focus on whether the sovereign is able to use time provided by current foreign exchange reserves and bilateral arrangements to implement measures that widen and increase its financing sources for the medium term. And avoid default for the foreseeable future, it added. Sri Lanka's foreign currency country ceiling has been lowered to Caa1 from B3, while the local currency country ceiling remains unchanged at B1. The three-notch gap between the local currency ceiling and the sovereign rating balances relatively predictable institutions and government actions against the low and declining foreign exchange reserves adequacy.

 

 76 /102 

0.4
What Millennials Really Think About Social Security - And Why They Might Not Be Entirely Wrong

What do Americans believe about Social Security? A new poll by Nationwide Financial, with splits by generation, gives us some answers. Here are four key items from the survey: What should we make of this? The standard response to these survey results is to say something like this, quoting CNBC in an article titled (as is par for the course for this sort of article), “71% of Americans are worried Social Security will run out of money in their lifetimes. Why experts say that won’t happen”: “The trust funds on which Social Security relies to pay benefits have been running low. The last official projection by the Social Security Administration indicated those funds could run out in 2035, at which point 79% of promised benefits would be payable. That estimate did weigh any pandemic effects. “Even so, fears that the program will run dry and benefit checks will stop are unfounded, said Shai Akabas, director of economic policy at the Bipartisan Policy Center. . “’It is highly unlikely that it is going to disappear anytime soon.’” But let’s give these respondents a fair hearing, rather than immediately writing them off as uninformed. As to the apparent belief that Americans can collect Social Security far earlier than is actually the case, I can only guess that survey-takers misunderstood the question as I don’t believe it’s credible that substantial numbers believe they can actually collect Social Security so young. Perhaps they understood this to include eligibility for disability, perhaps they thought this was the age in which a person would have earned the minimum number of “coverage quarters” required, or something else. I tend to discard this answer as simply not meaningful. Are Americans right to believe that Social Security may “run out of funding”? When it comes down to it, it’s a matter of interpretation: after all, I do believe it is very likely that Congress will not act before the Trust Fund runs dry, and that, regardless of when they act, it is highly likely that they will shift Social Security’s funding to that of ordinary tax revenues rather than a special Trust Fund. After all, the Trust Fund made sense when the program was established and it was intended that funds would build up for a time before being paid out, and again in the reforms of the 80s when Baby Boomers had hit their peak earning years, but now there is no such demographic bulge but merely an ever-diminishing number of workers relative to retirees. What’s more, the Democrat’s proposal for age 60 Medicare uses general revenues rather than a dedicated funding source. In addition, the child tax credits being celebrated now are being called “ Social Security for children ” despite any similar special “Trust Fund.” These developments, along with substantial plans for government spending expansion in general, make it all the more likely that the notion of a “Social Security Trust Fund” will not continue after its current funds are depleted. Are Americans — and especially Millennials — right to suspect that they personally will not receive Social Security benefits? Again: it’s not unreasonable. In an environment in which there is so much talk of so much government spending, paired with seemingly endless partisan rancor, it indeed seems reasonable to surmise that the Social Security system,27 to 42 years from now, could be much-altered and, quite possibly, be reserved for the poor. It seems rather likely that young adults in particular would believe that, regardless of their current finances, they would make their way up in the world to earning enough, relative to their peers, to be disqualified for welfare benefits. Finally, again, in a world in which there is so much talk of a substantial expansion of government benefits, and so much disconnection of Social Security from its prior promise that is earned by paying into the system, it is no surprise that the majority of Millennials would view it as just another benefit system. Consider, after all, that 43% of Millennials support a “universal basic income,” compared to 37% of Gen Xers and 22% of Boomers, according to Victims of Communism polling; and that 47% of Millennials, compared to 39% of Gen Xers and 34% of Boomers, had a favorable opinion of the term “socialism.” If they believe that the government ought to, in a moral sense, be giving ordinary Americans more money than is now the case, it stands to reason that expectation would likewise be the case for Social Security. And, of course, the refrain of Democratic candidates during the last election was that they would “expand Social Security,” and surely far more voters heard that refrain, than dug into the details to learn the expansion promised was relatively small in scale. What this boils down to, in the end, is not as simple as a throwaway explanation that Americans aren’t educated enough on Social Security. Rather, it seems more likely that their preferences have simply changed, compared to their elders — a change which may be positive, to the extent that it opens up opportunities for a complete redesign of the system, but may increase the difficulty of a successful political resolution, if too many Americans believe they can get the proverbial “free lunch.” As always, you’re invited to comment at JaneTheActuary.com!

 

 77 /102 

0.3
The Retirement Plan Option You May Not Have Heard Of

Are you maxing out your employer’s retirement plan contributions? Did you know you might be able to put additional money into your plan after-tax? (The 2021 annual IRS limit for the total of all annual contributions is the lesser of 100% of your compensation or $58k plus $6,500 if you’re age 50 or older.) If you check with your retirement plan provider, you may be surprised to discover that this option is available. Here are some factors to help you decide if it's an option worth considering. Are you maxing out your pre-tax and/or Roth contributions? You'll probably want to make sure that you're maxing out your pre-tax or Roth contributions first. Roth contributions are also after-tax, but the earnings are tax-free after age 59 1/2 as long as the account has been open for at least 5 years. In contrast, earnings on after-tax contributions are still taxable when you withdraw them. As for pre-tax contributions, the only way that after-tax contributions can come out ahead is for your tax rate to be significantly higher when you make withdrawals. In that scenario, you might be better off paying the tax on the contributions now rather than later. But you have to ask yourself how likely that is, considering that people typically have less income in retirement and a lot of your retirement account withdrawals may be taxed at lower brackets. In addition, that benefit is at least partially offset by the fact that you can afford to save more pre-tax since those contributions have a smaller effect on your paycheck than after-tax contributions, which reduce your paycheck dollar-for-dollar. Would you end up paying more taxes and penalties in the after-tax account? Even if you're maxing out your pre-tax or Roth contributions, you still might be better off putting money in a taxable account for a couple of reasons. First, under current tax law, you'll end up paying a lower tax rate on long term capital gains (except maybe on collectibles) in a taxable account since earnings from the after-tax retirement account are taxed at higher ordinary income tax rates when they're withdrawn. This is less of an issue if you invest the after-tax account in bonds since the interest is taxed at ordinary income rates anyway. Second, a taxable account provides more flexibility as you can withdraw all your money anytime and for any reason without worrying about early-withdrawal penalties. On the other hand, even if your retirement plan allows you to withdraw from the after-tax account, a pro rata percentage of your withdrawals would be considered earnings and possibly subject to a 10% penalty if you're under age 59 1/2. This is an important factor if you might need the money before then. Would you like to contribute more to a Roth? There is one really good tax reason to contribute to an after-tax account though. That's the ability to contribute additional dollars into your retirement plan that can later be rolled or converted into a Roth account, which can then grow to be tax-free after 5 years and age 59 1/2. (This is often called a mega-backdoor Roth.) If your employer offers you a Roth option, you might even be able to convert it to a Roth while you're still working there. Otherwise, you can roll the after-tax money into a Roth IRA, which gives you more investment flexibility and the option of withdrawing the converted amount tax and penalty-free at any time. (The earnings can be rolled into a pre-tax traditional IRA.) Does your retirement plan offer superior investment options? Taxes aren't everything. You might want to contribute more to your retirement plan rather than a taxable account if it offers a unique investment opportunity that you want to take advantage of or mutual funds for a lower cost than you can purchase outside. These are valid arguments for an after-tax account too. Still not sure if after-tax contributions make sense for you? Consider consulting with an unbiased and qualified financial planner. Your employer may even offer access to some for free through a workplace financial wellness program.

 

 78 /102 

0.5
Misconceptions About 401(k)s And Long-Term Savings Plans

Managing Partner of Max It Out Retirement| Big-picture thinker driven by helping people who work hard for their money keep more of it Long-term savings plans, by definition, are plans that help employees and employers meet savings goals that are five or more years away. The goals are typically retirement, college education or saving for a house. Common long-term savings vehicles for meeting these goals are 529 accounts for college savings and 401(k) accounts for retirement. Seems pretty simple, right? As most savers know, with a 401(k), funds are contributed from your paycheck and not included in taxable income in the here and now. IRS rules limit access to the plan prior to age 59 ½, and distributed funds before that time are heavily penalized then taxed. Your nest egg will also be heavily taxed at retirement. Because tax rates are at an all-time low, it’s almost a guarantee that hard-earned savings will be taxed significantly more at distribution, allowing you to take home even less. Of course,401(k) plans aren’t necessarily bad, but there are four common misconceptions that are worth exploring before you blindly contribute. 1.401(k) plans must always be utilized. Perhaps you’re in the market for a new job, and you’re comparing the merits of joining one company versus another. Maybe the salary is the same, but one company offers a 401(k) plan and the other does not. Prevailing wisdom would say: “That’s a no-brainer. Take the job with the 401(k).” This counsel is wise, but only if the said company offers a match which, essentially, is free money for you. But hear me out. I believe 401(k) plans do not need to be utilized. Not utilizing one doesn’t make you a poor planner, uninformed or “bad” with money management. There are other beneficial and flexible long-term savings and retirement plans to consider that might even be better. 2. The 401(k) is the gold standard of retirement savings plans. This is another misconception I encourage folks to challenge. The IRS began to allow 401(k) plans in 1978. Back then, a middle-class earner was paying effectively 55% of their income to taxes. With tax rates so high, it made sense to put a percentage of their salaries into a 401(k) where taxes were deferred to later. Today, with effective tax rates in the teens for the same middle-class earner, it is a near guarantee that tax rates will be higher at retirement time, meaning well-intentioned 401(k) holders will take home significantly less at retirement time. 3. Work hard, and your job will take care of you. At my company, we often tell clients that their savings plans are not their parents’ retirement strategies. Why do we say that? Because, quite simply, young professionals aren’t living in the same financial environment their parents did when they were growing their families. Our elders had benefits packages that included health insurance and pensions, essentially guaranteeing security through the end of life. Most jobs of today — unless you’re a cop, firefighter or teacher — don’t have a benefits package for life, certainly don’t offer pensions and rarely even match a 401(k). It’s up to employees and employers to ensure they're saving smartly for their family’s future. The job won’t do that anymore. 4. Retirement dollars aren’t needed until retirement age. The current, full retirement age is 66+ years, and that age is increasing. Very few people plan to work that late into life or want to work that late into life. Even 59 ½ is a long way off for those who have been working hard since the age of 21 (or younger). Retirement money that’s been saved in the form of a 401(k), additionally, can only be used for retirement, but life is long and monetary needs can vary. Employees can look at other options that will allow them to use their money before retirement. For example, my company suggests individuals put 401 and 529 together to create the 930 Plan. Employees and employers want smart, tax-advantaged savings plans that eliminate risk and optimize the sequence of returns for taxation. I encourage all individuals to do a deeper dive into 401(k) plans to determine if that’s what’s right for them or if there is another way to safeguard their financial future. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

 

 79 /102 

0.2
Just How Desperate Is CNN? It's Not Pretty...

CNN really wants those airports to fork over some cash. Without Donald Trump in the White House, the network has experienced steep declines in ratings, so on Monday, it announced a new and “much-anticipated” streaming subscription service. As MediaIte’s Caleb Howe pointed out, “It’s already fake news.” In its official announcement for CNN+, the network bragged about its high ratings in 2020, conveniently failing to mention its huge ratings decline in the current year, which is no longer 2020. “CNN is coming off its highest rated and most trafficked year ever on both television and digital platforms and remains the most trusted name in news,” the network said in a statement, apparently forgetting Russiagate, the Hunter Biden emails, Nick Sandmann, and on and on. “From this position of strength, CNN+ will expand CNN’s unparalleled multiplatform global reach to provide a new, additive experience that complements the core CNN linear networks and digital platforms to serve CNN superfans, news junkies and fans of quality non-fiction programming,” the network added. Recommended: [WATCH] CNN Director Admits Network Ran ‘Propaganda’ to Get Trump ‘Voted Out’ “CNN invented cable news in 1980, defined online news in 1995 and now is taking an important step in expanding what news can be by launching a direct-to-consumer streaming subscription service in 2022,” Jeff Zucker, chairman of WarnerMedia News and Sports and president of CNN Worldwide, said in a statement. “As the most trusted and recognized name in news, CNN has unrivaled global reach, world class talent and a deep existing library of content including award winning series and films.” CNN isn’t fooling anyone. Its ratings are in the crapper, and for good reason. Some obscure cable channel called “Fox News” again dominated the cable news ratings in the second quarter of 2021, with four of the five most-watched shows ( Tucker Carlson Tonight, Hannity, The Five, and The Ingraham Angle). Only MSNBC’s The Rachel Maddow Show also made the top five — behind every Fox show except Ingraham’s. “The most trusted name in news” didn’t make the cut, according to Nielsen, Forbes reported. CNN took third in prime time, behind Fox (2.176 million viewers) and MSNBC (1.464 million viewers). CNN had less than a million viewers (914,000) in prime time. While all of the cable news networks saw rating declines compared to the second quarter of the annus horribilis of 2020, CNN experienced the sharpest drop, down by 57 percent. CNN fell even more among the key demographic, dropping a staggering 68 percent. Yet this decline should come as little surprise to “the most trusted name in news.” What little was left of CNN’s credibility took devastating hits over the past year. Recommended: [WATCH] CNN Director Reveals the Awful Truth Behind CNN’s COVID-19 Death Toll Counter CNN forked over an undisclosed amount to settle a lawsuit from the defamed Covington Catholic High School teen Nick Sandmann (who had sought $800 million from the network). CNN’s Brian Stelter hilariously accused conservative media of having an “obsession” with the Russia probe that slowly dismantled every Trump-Russia collusion lie CNN had been spouting during and after the 2016 election. Last October, when The New York Post published bombshell reports about Hunter Biden’s laptop that implicated Joe Biden, Big Tech and the legacy media rushed to silence the reports as “misinformation.” CNN’s Jake Tapper gleefully jumped on the bandwagon, condemning the revelations as “the Gaetz Mc-Breitbart nonsense.” He claimed the Hunter Biden revelations were based on “no evidence, just completely made up.” Yet it appears the emails from the laptop are indeed genuine. Hunter Biden himself has acknowledged that the laptop could “certainly” belong to him, but he laughably insisted, “I really don’t know.” Biden reportedly dropped off the water-damaged laptop at the Wilmington, Del., repair shop of John Paul MacIsaac in April 2019. MacIsaac provided a hard drive containing the contents of the laptop to former New York Mayor Rudy Giuliani’s lawyer, Robert Costello, and Giuliani gave the Post a copy of the hard drive in October 2020, leading to explosive stories about Hunter Biden’s business dealings in Ukraine and China. The FBI seized the laptop in December 2019, apparently as part of a probe that Hunter Biden characterized as an investigation into his “tax affairs.” CNN’s Chris Cuomo gave his brother, Gov. Andrew Cuomo (D-N. Y.), eleven softball interviews during the COVID-19 pandemic, celebrating his brother as a hero even as Cuomo’s nursing home policy consigned many of the most vulnerable to COVID-19. Perhaps the biggest hit to CNN’s credibility came from Project Veritas. In a sting video, CNN Technical Director Charlie Chester admitted that his network used “propaganda” in an effort to ensure that President Donald Trump lost the 2020 election. “Look what we did, we [CNN] got Trump out. I am 100% going to say it, and I 100% believe that if it wasn’t for CNN, I don’t know that Trump would have got voted out,” Chester said. “I came to CNN because I wanted to be a part of that.” The president’s “hand was shaking or whatever, I think. We brought in so many medical people to tell a story that was all speculation — that he was neurologically damaged, and he was losing it,” Chester recalled. “He’s unfit to — you know, whatever. We were creating a story there that we didn’t know anything about. That’s what — I think that’s propaganda.” In a separate video, Chester admitted that CNN capitalized on the COVID-19 pandemic, using its death toll numbers to scare people and gin up ratings. “COVID? Gangbusters with ratings, right? Which is why we [CNN] constantly have the [COVID-19] death toll on the side, which I have a major problem with – with how we’re tallying how many people die every day,” Chester said. While CNN spent every second it could demonizing Trump, the network has gone so soft on Joe Biden, it has become an international laughingstock. Australian journalists mocked CNN for this change of pace. Recommended: Leftist Media Bias Is a Threat to Democracy, Judge Warns in Scathing Dissent “I just think Joe Biden is a lucky person,” said Sophie Elsworth of The Australian. “He has got all the media on his side—or most of the media on his side—particularly CNN. Completely at odds with what they did to Trump.… It’s quite appalling to watch. And what happened to straight news reporting, which doesn’t seem to be existent there?” So yeah, “the most trusted name in news” is extremely desperate to resurrect its flagging enterprise, and Americans see through the lie that this new subscription service is “much-anticipated.” Even the CNN airport network is going the way of the dodo. Perhaps the network should head down to Cuba. I hear there’s a communist regime desperately in need of some leftist propaganda.

 

 80 /102 

0.1
Major Earnings Week Ahead With 76 S&P 500 Firms Reporting Including Netflix, IBM, CocaCola

Key Takeaways: A ramp-up in new Covid cases is bringing fear that we may take a step backward here, weighing on stocks to start the week. Wall Street continues to show signs of tracking the bond market, and bond yields posted fresh five-month lows this morning. Daily cases have tripled from a month ago in the U. S., and travel stocks are taking it on the chin today in pre-market trading. Airlines, hotels, casinos, and restaurants all could receive the brunt of the blow if Covid worries keep growing. Other companies aren’t immune. The outbreak is generally worse overseas, which could threaten business for multinational U. S. firms. Caterpillar (CAT) and General Motors (GM) both slid ahead of the bell. As Covid concerns return to Page 1 of the morning news, we might see the return of one of last year's trends, where markets settle down during the middle of the week but fear creeps in by the end of the week and into the weekend. On Friday the major indices closed on their lows—typically a bad sign from a technical standpoint—and like many weeks during the height of the pandemic, Friday’s weakness carried over into the new week. The 10-year Treasury yield fell below 1.25% to new five-month lows early Monday. Crude fell below $70 a barrel for the first time since June 11. Part of the crude weakness might reflect the OPEC+ deal reached over the weekend, but it also could suggest fears of a slowing economy if the pandemic stays front and center. Keep an eye on volatility, too. The Cboe Volatility Index (VIX) put on some steam late last week and that spilled over into Monday. It’s back above 21 this morning, a move that’s probably going to get some notice. A higher VIX often can signal people taking protection against possible market turbulence. Weirdly, the dollar is rising here even as bond yields fall. This could reflect people thinking the U. S. is being hit less hard by this fresh Covid outbreak. As Monday continues, we’ll see if the market action here is one of those things where weekend fears lead to an initial reaction and then cooler heads prevail, or if concerns continue to weigh. The “buy the dip” mentality has been so strong lately, it’s hard to believe it would suddenly fade. The question is, at what level does it happen? The 4280 level in the S&P 500 Index (SPX) could be an important one to watch. Oddly, earnings seem almost like a second-tier story today even though we’re heading into the thick of the season with 76 S&P 500 companies reporting. Things kick off with Big Blue, IBM (IBM) expected to report this afternoon. A host of other big names step to the plate this week including Netflix (NFLX), American Express (AXP), Johnson & Johnson (JNJ), Twitter (TWTR), United Airlines (UAL), AT&T (T), Verizon (VZ), American Airlines (AAL), and Coca-Cola (KO). Something to consider as these companies report is the impact of rising producer prices, and whether this could be clipping margins or causing them to pass along costs to consumers. Reopening is also in focus, so listen for executives’ thoughts on how that’s going. With NFLX in particular, investors will likely focus on membership growth. That metric was far below what Wall Street had expected in Q1 and even missed the typically conservative mark offered by the company’s own C-suite. It rolled in at 3.98 million—the softest showing since 2013 when only three million customers joined the club. NFLX execs told investors then to brace for the worst as the challenges ahead amid vaccinations and the economic reopening would be heady. They forecast new membership would inch up only one million in Q2, a fraction of the 4.44 million Wall Street was anticipating. Shares of NFLX popped up a bit recently but are pretty much flat year-to-date. The company is expected to report after the close tomorrow. In the tech arena, keep an eye out for the first major chip firms to report, with Intel (INTC) and Texas Instruments (TXN) on this week’s schedule. It’s still early, but initial earnings season numbers look pretty good overall. About 8% of S&P 500 companies have reported, and 85% of those reported a positive earnings surprise while 90% surprised to the upside on revenue, FactSet reported. FactSet now expects a pretty amazing 69.3% growth for Q2 S&P 500 earnings, up from its previous 63.9%. It expects average revenue to rise more than 20%. This is all positive, but it does mean investors begin earnings season with extremely big expectations. So it’s a high bar for companies reporting, and if they don’t clear it they could get punished. The biggest Tech stocks like Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) begin reporting soon, and all of them set new all-time highs recently. This could reflect earnings optimism, but at these levels it will probably take some very strong balance sheets to avoid seeing the momentum slow. Last week saw Wall Street step back from recent record highs as major indices fell in part on inflation and Covid worries. Both the June consumer and producer price indexes came in hotter than expected. Many people are struggling with, 'My day-to-day life is telling me that prices are higher, but the Fed chairman is telling me that it's not going to last.” On the other hand, the bond market seems to think inflation isn’t here to stay, judging from low recent yields. If inflation is going to last, we certainly have priced rates pretty low. It's a situation of we're going to have to be shown that it's transitory. One thing that could take some of the starch out of inflation is if crude has another week like last one. The Energy sector is getting crushed lately, helping pressure the Russell 2000 (RUT) small-cap index. On the data front, investors get a look at real estate tomorrow with housing starts and building permits for June. Housing starts rose faster than expected last time out but building permits decreased, so we’ll see if that continued in June. Otherwise, key numbers are a bit sparse in coming days, and the Fed will soon go into its “quiet period” ahead of the Federal Open Market Committee (FOMC) meeting scheduled for later this month. All this could mean an intense focus on earnings reports without much distraction. The Capitol watch is also back on this week as Congress keeps wrestling with the infrastructure bill. Progress there could potentially provide a lift. Or should we say a forklift? How Strong Were Retail Sales, Really? Investors received a couple of conflicting data points going into the weekend that are still being digested and debated as the new week starts. Retail sales for June were off the charts, rising 1.3% excluding autos, compared with consensus expectations of 0.3%. This appeared to point toward consumers getting out and spending last month as the economy opened, though if you’re a glass half-empty type you might point out that a chunk of the retail sales strength reflected higher prices due to inflation, rather than volume of sales. Though retail sales shined, consumer sentiment didn’t paint such a pretty picture. The University of Michigan’s consumer sentiment data for early July, also released Friday, showed a drop to 80.8 in the headline figure from above 85 in June. Analysts had expected 86.3, according to research firm Briefing.com. From a historic perspective,80.8 isn’t a horrible number. It was the lowest since February, however, and down from nearly 100 at one point this year. What’s sapping sentiment? Inflation, possibly. As Barron’s pointed out, after the impact of higher prices, real hourly earnings are down 1.7% from a year ago. This might explain why nine million jobs are unfilled despite continued high unemployment. Boss, I Need a Raise: Last week, Fed Chairman Jerome Powell told Congress it’s important to keep inflation expectations from getting out of hand. The Fed’s longstanding target is 2%, and the central bank is comfortable allowing inflation to run above that for a while here as the economy reopens. Powell expects elevated inflation to moderate. But if expectations for inflation continue to look this strong, it could cause wage demands to rise, putting pressure on companies to pay more, and maybe raise prices to cover the costs. That’s the kind of thing that set off a “wage-price spiral” in the 1970s that the Fed eventually had to pop with extremely high rates. No one’s saying that’s going to happen again, and we’re only talking about one sentiment report here. Still, those inflation expectations bear further watching when the next sentiment data hit the tape July 30. Bond Market May Signal 2022 Headwinds: At recent lows, the closely followed U. S.10-year Treasury yield sank to between 1.25% and 1.3%, falling to 1.29% at the end of last week. There’s growing concern that these weak levels could indicate worries about U. S. economic growth going into 2022, and that’s certainly worth thinking about. After all, in 2022 the government’s fiscal stimulus could be ebbing, the Fed might be beginning to taper its bond buying, and earnings will have a huge mountain to climb if they’re going to match this year’s amazing post-Covid growth. FactSet said analysts expect only 11% S&P 500 earnings growth in 2022 vs.36.7% in 2021. In other words, there could be a lot of headwinds both on Wall Street and in the broader economy next year, and it’s possible that’s what the bond market is telling us with the recent yield downtrend from the peak above 1.75% in March. One analyst told CNBC on Friday that it’s important for the 10-year yield to hold onto recent lows, or the stock market could lose any momentum it still has. Another concern is that some of the mega-cap Techs AAPL, AMZN, and MSFT weren’t able to add on to recent gains. If their momentum is slowing, the rest of the market could lose that particular crutch, too. TD Ameritrade® commentary for educational purposes only. Member SIPC.

 

 81 /102 

0.7
Revamping Loyalty Programs Could Be The Key To Customer Engagement

As CTO of Engage People Inc. Len Covello helps companies differentiate loyalty programs to deliver a better experience for their customers. Facing macro and microeconomic pressures related to a rapidly evolving industry and the lingering effects of the Covid-19 pandemic, banks across America have a heightened sense of urgency to launch innovative products and services to capture new revenue streams. Enhancing the payments experience may offer financial institutions (FIs) the quickest path to improving customer retention, engagement and acquisition — which can improve liquidity and revenue capture. The key to this strategy is increasing the number of payment options, including the untapped loyalty rewards dollars available to bank customers. The loyalty market — tapped as $200 billion, according to one 2020 industry study — is surprisingly unfulfilled. In fact, industry analysts estimate that some $100 billion worth of loyalty points go unused every year. Before diving into how FIs can improve their liquidity and revenue capture with the payments transformation, it’s important to note why they’re so eager to do so. A key motivator is the meteoric rise of digital-first banking, which has been hyper-accelerated by branch closures and the rapid decline of cash. While these trends have been advantageous for digital-savvy banks that have embraced fintech, the future is looking more and more uncertain for FIs that have resisted innovation. Consumers are growing increasingly alienated by legacy banking models that have failed to embrace digital transformation and integrate more modern, frictionless and mobile-native experiences. It’s no wonder then that the number of consumers considering switching banks reached record highs last year. In 2020,22% — or some 44 million people — considered leaving their old bank and establishing a new primary FI, according to survey data from marketing consultants Foresight Research. Next-generation loyalty programs will play a key role in fulfilling customer needs. Increasingly, financial services consumers — particularly millennials and Generation Z — are considering leaving their primary FI for providers that offer reduced friction, enhanced convenience and more rewarding consumer engagement. While cryptocurrency markets have captured the lion’s share of media fanfare, with trading volumes on decentralized exchanges (DEX) and Ethereum transactions continuing to break records, loyalty points as a digital currency alternative are also on the rise. While cryptocurrencies are mined out of complex and computationally intensive processes, loyalty points are minted out of recurring user-purchasing behavior. By integrating with simple, self-serve APIs, banks can build a bridge to their customers and select retailers to monetize loyalty-driven digital currency throughout their merchant networks. This “loyalty network” dynamic enables consumers to convert points to currency during the online checkout process within the bank’s network of designated merchant partners — further enhancing their digital payment experience. The Future Of Loyalty Points And Personalization A loyalty network offers FIs a new vector to attract young depositors in search of a new primary FI, while retaining existing customers. The key theme here is finding creative ways to engage millennial and Gen Z financial services consumers. While API integrations currently allow for loyalty customers to pay with points at participating online e-commerce sites, the future hints at a world where loyalty points — regardless of the program — are recognized simply as another form of payment, like a debit or credit card. Depending on the setup, accumulated loyalty points could also be used to pay off certain bills or to make donations to a favorite charity. The same dynamic could apply to community banks and their networks of smaller mom-and-pop style stores, thus promoting the interests of local businesses hit hard by the pandemic. This cyber-enabled loyalty framework helps personalize the consumer’s purchasing journey, which creates a more meaningful retail experience for end users. Consumers also benefit from expanded options in how and where they spend their points. For program owners in this environment, where do you start to enable these new loyalty initiatives? First, identify the objectives for your organization. How do you want customers to interact with your brand, and how do you want to communicate with them? Second, look at your current program and identify what’s missing to achieve your long-term objectives. This may require a clear understanding of what competitors are doing both inside your industry and from other industries and the latest technology solutions. Third, determine the resources and skillsets required to optimize the customer journey. Is it available internally? Do you need to contract a third party? Fourth, identify an internal champion and/or a good third-party partner to help deliver the necessary tools to optimize the customer journey. This resource should remain focused on implementing category innovations and delivering the ideal customer experience. Finally, remember it takes time to implement often with trial and error, this is an ever-evolving area of opportunity, what works for today’s customer isn’t necessarily going to work tomorrow. In an economy still healing from the shock of the pandemic, expanding the universe of payment options and consumer liquidity is table stakes. As banks seek out inventive ways to engage new customers, retain existing ones and navigate an uncharted era of unresolved Covid-enhanced risks, loyalty points are a rapidly emerging digital currency alternative that banks can no longer afford to neglect. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?

 

 82 /102 

0.6
Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound

Billionaire investor Bill Ackman said Monday that the spread of the delta variant doesn't pose a significant threat to the economic reopening, and he sees interest rates rising on the back of the big comeback. "I hope what it does is that it motivates anyone who doesn't get the vaccine to get the vaccine. I don't think it's going to change behavior to a great extent," Ackman said in a interview on CNBC's " Squawk Box." "You are going to see a massive, my view, economic boom.... We are going to have an extremely strong economy coming in the fall." The delta variant is causing flare-ups across unvaccinated pockets of the country and leading to an increase in hospitalizations as cases climb. Ackman, the founder and CEO of Pershing Square Capital Management, said the variant is less deadly than other strains and the U. S. could achieve herd immunity faster as more people recover from the infections. The hedge fund manager believes bond yields will trend much higher in the second half of 2021 as the economy continues to recover from the pandemic-induced recession. "I think rates are going up. Short rates I think are going to go up a lot faster than people think," Ackman said. "Coming to the turn of the year... I think we are going to have meaningfully higher yields as people realize the economy is going to make a big recovery." Ackman said the slide in Treasury yields Monday provided investors with a buying opportunity. The 10-year benchmark rate fell 7 basis points to 1.22% to hit a new five-month low. "Today's move... I would borrow as much as you can in the long term fixed rate on the basis of today's rates," Ackman said. The hedge fund manager has been betting big on the rebound in the restaurant, retail and hotel industries. His top holdings at the end of the first quarter included Lowe's, Hilton, Restaurant Brands and Chipotle. He recently picked up Domino's Pizza shares following a pullback. In mid-March at the height of the Covid-19 crisis, Ackman came on CNBC to warn investors that "hell is coming" and urge the White House to shut down the country for a month. Days after the interview, Ackman revealed his firm exited the short positions on March 23 just as the S&P 500 bottomed, pocketing more than $2 billion in bets against markets in March. Enjoyed this article? For exclusive stock picks, investment ideas and CNBC global livestream Sign up for CNBC Pro Start your free trial now

 

 83 /102 

1.2
COVID home testing kits coming to Israel - Here’s what you need to know

Although no final pricing has been released, tests are expected to cost around 20 NIS each and could be sold in packs of one, two or even five for large families. ts will be purchased from commercial companies abroad and imported into the country via various distributors, some of which are already well-known and distributing other rapid tests in Israel, such as Remipharm Group, which represents the American company Quidel in Israel.

 

 84 /102 

0.3
PE/VC investments decline 22% to $5.4 bn in June, up 45% in H1: Report

Investments by and venture capital funds declined by 22 per cent to USD 5.4 billion in June, as compared to the USD 6.9 billion in the year-ago period, a report said on Monday. However, if compared with May's USD 4 billion, the investments were higher by 33 per cent, the monthly report by industry lobby group IVCA and consultancy firm EY said. If one were to compare the inflows into companies in the first half of 2021, the investments were 45 per cent higher at USD 26.9 billion. Indian PE/VC investment activity grew at a record-setting pace throughout H121 and the deal pipeline indicates that this pace is only going to intensify as 2021 progresses. Both H121 and second quarter notched up lifetime highs for pure-play at USD 21.9 billion and USD 14.1 billion respectively, EY's partner Vivek Soni said. Activity in both large deals (of over USD 100 million), as well as mid-market deals (USD 20-100 million) and growth deals, continue to be the mainstay, the material increase in buyout and start-up deals are the growth drivers when we compare PE asset class data to the previous two six-month periods, he added. From a sectoral perspective, technology, e-commerce, financial services, pharmaceuticals, education, and media and entertainment have either gained on account of COVID or have demonstrated resilience to or a quick bounce back from the pandemic and its aftereffects. Conversely, in infrastructure and real estate asset classes and the retail and consumer products sector have shown a material decline, he said. Buyouts, which was the most impacted deal strategy last year, were the highest in June 2021 at USD 1.9 billion across five deals, followed by growth investments at USD 1.6 billion across 25 deals and start-up investments at USD 1.4 billion across 53 deals, the report said. June 2021 recorded 12 large deals aggregating USD 3.6 billion compared to 11 large deals worth USD 6.1 billion in June 2020 which include deals worth USD 4.9 billion in Jio Platforms. From an exit perspective, June 2021 recorded 29 exits worth USD 3.2 billion,4.8 times the USD 657 million in June 2020 and 74 per cent lower when compared with May's USD 12 billion. The month recorded total fundraises of USD 325 million compared to USD 121 million raised in June 2020, the report said.

 

 85 /102 

0.1
Gettr Reserves Donald Trump Handle After Fake Account Banned: 'It's in the Safe'

A new conservative social media website has reserved a handle exclusively for Donald Trump after a fake account with tens of thousands of followers was banned from the platform. Gettr CEO Jason Miller, previously a senior adviser to Trump, confirmed the handle was now "in the safe" and reserved exclusively for the former president. Sharing an article about the reservation by the right-wing publication the Washington Examiner. Miller said: "True story! We've protected the handle, and only President Trump can activate it." Miller's statement comes after Gettr banned an account impersonating Trump that had managed to gain 23,400 followers before it was taken down. The account had promised "uncensored posts" and attracted thousands of likes and shares before it was ultimately suspended. Gettr does not allow users to register as other people unless the account is run by their social media team or another authorized person. It also reserves the right to remove and account "for any reason." The Trump imposter was one of several fake accounts that had appeared on Gettr and was among the several issues that plagued the social media website after it went live. Gettr had been marred by users sharing pornographic images and GIFs after Gettr uploaded its first welcome message. There were many users who spammed the welcome post itself with graphic hentai and images of Hilary Clinton's face photoshopped onto a naked woman's body, according to Mother Jones. Following the mass trolling, Miller said Gettr had fixed several issues and that the platform had been "shaking things up." He added: "You know you're shaking things up when they come after you. The problem was detected and sealed in a matter of minutes, and all the intruder was able to accomplish was to change a few user names." The Twitter-style service launched earlier this month and had been touted as an anti-censorship platform for conservative voices and reportedly gained more than 1 million followers shortly after going live. It was set up some right-wing and conservative figures were purged by big tech companies over their content. Then-president Donald Trump was not immune when he was banned from major social media platforms, including Twitter and Facebook following the January 6 riot at the Capitol. Trump has attempted a fightback and has since launched a lawsuit against Facebook, alleging the platform had violated his and other users' First Amendment rights by censoring content and indefinitely suspending his account.

 

 86 /102 

0.5
Fostering A Culture Of Innovation To Drive Growth

By Matt Laukaitis, Executive Vice President and Global General Manager of SAP’s Consumer Industries Innovation has always been a way for a company to differentiate its offerings from the competition by seeing and doing things differently. It used to be good enough to innovate once in a while and every so often, a company would come up with something new. But now it’s essential. Responding to quickly changing consumer behaviors and market conditions requires fostering a culture of innovation. It’s easy to say; after all, realizing that you must innovate is only the first step – the hard part is actually delivering it. In 2020, as the pandemic hit, companies across industries and sectors had little choice but to accelerate innovation or go out of business. Some companies were prepared by having begun the process of digital transformation and found themselves in a good position to adapt to changing customer needs. In contrast, others had put off digital transformation instead prioritizing different projects. Suddenly, innovations including curbside pickup, contactless delivery, and e-commerce had to be reprioritized and implemented as a means of survival. By delivering innovation in the midst of a global pandemic, it was clear that businesses could in many cases, deliver a portfolio of rapid, yet impactful, innovations. In response to the pandemic, many companies executed swift pivots or implemented entirely new businesses very successfully. Brakes, a UK food distributor, saw its traditional business serving restaurants and institutions rapidly decline almost overnight, so it implemented a direct-to-consumer food delivery business in less than 2 weeks, delivered via an easy to use mobile app. Casey’s General Stores, a US based convenience store that’s also known for fantastic pizza and food, saw its fuel – and store – traffic slow substantially, so it quickly created a new mobile app enabling home delivery and curbside pickup to meet customer demand. They also delivered a loyalty program and tools to help customer recognition to provide personalized offers. Within a short time, the app accounted for over 60% of its sales during the pandemic. Now that many companies have developed a taste for delivering new innovations at speed, they want more. The pressure from CEOs on the business to constantly innovate is accelerating, creating even more stress on the organization and people. So, how can businesses create a culture of innovation, where innovating comes naturally and all ideas count? There are four areas that businesses can focus on to help drive more innovation across their business: Research has shown again and again that diverse teams tend to rank among the highest-performing teams and deliver innovations at a higher level, especially when they are fostered within a culture where it is safe to experiment and fail. Build the team you need to drive and accelerate innovation by seeking out people who do things differently and who value and respect the strength in diverse backgrounds, perspectives, and ideas. According to McKinsey, “When employees feel comfortable asking for help, sharing suggestions informally, or challenging the status quo without fear of negative social consequences, organizations are more likely to innovate quickly, unlock the benefits of diversity, and adapt well to change – all capabilities that have only grown in importance during the COVID-19 crisis.” Trust, diversity, and inclusion are essential to fostering a culture of innovation. Failure of some kind is likely even when you’re not innovating, but failure is inevitable when you’re doing what hasn’t yet been done. Navigating the high-pressure testing ground of responding to a pandemic, we have seen what is possible. Just imagine what incredible impact this can have when focused more directly on urgent issues such as sustainability, with compelling business, climate, and human cases for accelerating our efforts.

 

 87 /102 

2.4
How to shop for the best laptop for school 2021

Know what you're getting for your money Learn about the tech resources available on campus first Look for student discounts before you buy. Decide whether a Mac, Windows PC, or Chromebook is best for you Choose a laptop with the right specifications for your needs Our guides to the best laptops

 

 88 /102 

0.7
S4 Capital reveals ‘unprecedented’ post-pandemic trading activity and new tech ambitions

S4 Capital has reported “unprecedented“ business activity driven by the economic rebound from Covid-19 in a statement released to the London stock market today.

 

 89 /102 

0.5
Market Wrap Podcast, July 19: Here's all that happened in the markets today

It was a manic Monday for investors on Dalal Street as the worst global stock rout in 18 months wiped off Rs 1.2 trillion of their wealth and pushed Sensex and Nifty over 1 per cent lower. Financials were the worst drags with HDFC twins leading the losers' pack. Sensex declined 587 points to 52,553 and Nifty shed 171 points to end at 15,752. It was the worst fall by the benchmark indices in nearly three months. Only four of the 30 stocks in the Sensex pack ended in the green, with HDFC Bank as the worst performer as it missed Street's earnings estimates for the June quarter. The stock tanked 3 per cent to Rs 1471. IndusInd Bank, HDFC and Axis Bank were other top losers. Sectorally, only pharma and realty stocks showed some strength. Nifty Realty gained 0.43% and Nifty Pharma 0.24%. Nifty Private Bank index witnessed heavy profit-taking as the index slipped over 2%. Metals too took a beating with the index down over 1.3%. The resilience continued in the smallcap space. Nifty Smallcap defying overall market mood as it gained 0.03%. On the stock-specific front, shares of Clean Science Technology after listing at 98 per cent premium over issue price faced selling pressure. It ended the day lower by 11% over its listing price of Rs 1,784. GR Infraprojects, another firm that debuted today rose 108% over the issue price. It had listed at a premium of 103% over Rs 837 per share. Shares of Adani Group stocks hogged the limelight with all five stocks ending in the red after junior finance minister Pankaj Chaudhary told the Parliament that Sebi and customs authorities are investigating some Adani Group companies for non-compliance of rules. The group companies declined up to 4%. Vodafone Idea and Bharti Airtel wiped off early gains to end 3% and 0.50% lower after the Supreme Court reserved judgment in the AGR case, suggesting it may allow DoT to re-calculate the amount due by the telcos. Shares of Larsen Toubro had hit a new high of Rs 1,638.65 in intra-day on winning new orders but failed to hold gains and ended 0.62% down. Going into trade on Tuesday, global cues will be on investor radar along with quarterly earnings. In early trade, Street may react to HCL Tech's Q1 numbers besides 33 companies are set to report their Q1 results including Asian Paints, Bajaj Finance, Network 18 Media and Shya Metaliks. The action could be leaner in the market as investors may choose to remain on the sidelines ahead of the holiday on Wednesday. In the primary market, the IPO by Tatva Chintan Pharma Chem was subscribed 14 times by Day 2. The issue closes on Tuesday. Globally, US equity futures fell, indicating a weak Wall Street start. And stocks in Europe were headed for a seven-week low as the spread of the delta variant around the world threatens the global economic recovery. The Stoxx Europe 600 fell 1.6% and the MSCI World index fell 0.6%. In the commodities market, Brent was down $2.01, or 2.7% at $71.58 after OPEC+ overcame internal divisions and agreed to boost output, sparking concerns about a crude surplus as COVID-19 infections rise in many countries.

 

 90 /102 

0.3
Nifty July futures trade at premium

The Nifty July 2021 were at 15,761.3, a premium of 8.9 points compared with Nifty's spot closing of 15,752.40. Turnover on the National Stock Exchange's & options (F&O) segment was Rs 44.36 lakh crore compared with Rs 28.26 lakh crore in the previous session. In the cash market, the Nifty 50 index slumped 171 points or 1.07% to 15,752.40. The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 8.32% to 12.68. Adani Ports & Special Economic Zzone, HDFC Bank and Reliance Industries were the top traded stock contracts in F&O segment for July expiry. The July F&O contracts will expire on 29 July 2021.

 

 91 /102 

0.3
Stablecoins should be regulated like banks and central bank digital currencies could tame these 'wildcat' crypto tokens, according to research from the Fed and Yale

Cryptocurrencies that are pegged to a stable asset - known as "stablecoins" - should be regulated as strictly as commercial banks and those that are not should be wiped out to prevent instability in the global payments system, according to a report from researchers at the Federal Reserve and Yale University. The report, titled "Taming the wildcat stablecoins", was released over the weekend ahead of a meeting of a Treasury Department working group on digital assets on Monday. In it, researchers suggested stablecoins should be issued by insured banks and backed by government bonds. But anyone can issue a stablecoin and it is these privately produced tokens that have regulators worried. Tether, for example, is the world's third-biggest cryptocurrency by market value. It's designed to be pegged to the US dollar and backed by assets such as dollars and Treasury bills. But regulators in New York recently banned it after an investigation found it had overstated its US dollar backing. In May, the Federal Reserve's Lael Brainard raised concerns stablecoins could default and destabilize the financial system. "Policymakers have a couple of ways to address this development, and they better get going," the report said. The report's authors said the federal government could either "convert stablecoins into the equivalent of public money by (a) bringing stablecoins within the insured bank regulatory perimeter or (b) requiring stablecoins to be backed one-for-one with Treasuries or reserves at the central bank; or (2) introduce a central bank digital currency and tax private money out of existence." The US is not the only government that feels the need to cool down the risks that stablecoins present central banks. "Some commercial organizations' so-called stablecoins, especially global stablecoins, may bring risks and challenges to the international monetary system, and payments and settlement system etc," Fan Yifei, a deputy governor of the People's Bank of China, told CNBC earlier this month. The Treasury Department called Monday's meeting to address some of these issues. "Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system," Treasury Secretary Janet Yellen said in a statement Friday. "In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities." Cryptocurrency usage has grown across the world, and most major central banks are now considering issuing their own digital currencies. The report suggested central bank digital currencies (CBDCs) could be issued either as a deposit account, or as a digital coin, with the latter being the preferred option, as it could operate alongside traditional banking tools like cards. The first option would mean central banks will have to open accounts and administer payments for users. "The introduction of a central bank digital currency allows the government to maintain monetary sovereignty," the report said.

 

 92 /102 

0.4
With Bond Yields, Something Has to Give

The yield on the benchmark 10-year U. S. Treasury note averaged 0.79% from 2007 through last year after adjusting for inflation as measured by the consumer price index. It’s now minus 4.0%. If that’s not shocking enough, corporate bonds rated below investment grade, or junk, yield 4.57%, below the current 5.40% rate of inflation. Something’s got to give. To return to more normal conditions, ether nominal yields must rise or inflation must recede. Bet on the latter. Since mortgage rates are closely linked to the bond market, enhanced yields would mean trouble for the highly-interest rate-sensitive housing sector. Declining mortgage rates led to a surge in refinancings that last year reached the highest since 2009. Also, the drop in 30-year fixed-rate mortgage rates from 4.45% in the second quarter of 2018 to 3.15% in the first quarter of this year more than offset the surge in house prices, helping to push the National Association of Realtors’ Housing Affordability Index up from 142 to 177. The problem here is that higher interest rates would squeeze new borrowers and those with floating-rate loans, quickly making housing less affordable. Studies have shown that even a 1 percentage point increase in mortgage rates significantly reduces housing affordability, like in early 2013 and throughout 2017 and 2018. Furthermore, a jump in rates would be curtains for many high-tech and other stocks whose current lofty valuations are dependent in part on ultra-low rates. The belief is that the equity price today is the discounted value of future profits, and $10 in earnings 10 years from now is worth $9.05 at present with a 1% discounting rate, but only $5.58 at a rate of 6%. Soaring stocks have positively affected the behavior of businesspeople and consumers much like roaring equities in the late 1920, so rising interest rates could have devastating effects not only on the stock market but also on the broader economy. In contrast to the consensus, I continue to believe the current burst of inflation is transitory, the result of bottlenecks in reopening the economy and supply-chain disruptions spawned by the pandemic. Already, the prices of sensitive commodities are well off their peaks. Lumber is down 71% from its May 7 high. Copper, which goes into almost every manufactured good from machines to vehicles to plumbing fixtures and therefore is an excellent indicator of production, is off 10% from its May 11 top. In addition, the recent burst of a wide range of prices has not sired inflationary expectations in which buyers anticipate higher goods prices by buying ahead, creating a self-feeding cycle of higher demand straining supply, resulting in even-higher prices. Consumers forced to stay home during the pandemic have largely satiated their demand for many goods, with real, inflation-adjusted spending dropping 0.4% in April from March and 2% in May, as measured by the Commerce Department. Spending on restaurants and other services has risen with the reopening of the economy, but the 0.4% real rise in May didn’t offset the weakness in goods outlays so total personal consumption expenditures were off 0.4% compared to April. Furthermore, services by definition are consumed as produced so hedge buying isn’t possible. Consumers always overestimate inflation. According to the University of Michigan’s Survey of Consumers in July, they expected inflation five to 10 years from now to run just 2.9%, about the same as in 2014. The Federal Reserve Bank of St. Louis reports financial markets this month anticipate inflation to average 2.16% in the 2026-2031 years. Although up from 1.57% a year ago, it’s down from 3.0% expectations in 2012. Significant and lasting inflation results from demand for goods and services meaningfully exceeding supply, hardly the case in today’s globalized world. Asian economies are robust producers but frugal spenders. The result is a deflationary saving glut. In China, consumer spending is only 42.5% of gross domestic product, compared with 67.6% in the U. S. And President Joe Biden seems less inclined to limit imports from China than was Donald Trump. Besides, manufacturing for export is moving from China to even-lower-cost countries such as Vietnam. Rather than sell off in anticipation of rising rates of inflation, the recent rally in long-term Treasuries that has pushed yields lower heralds a weaker economy with less inflation. Treasury bonds started to rally 16 months on average ahead of the six recessions since 1980. Stock performance also led recessions, but the S&P 500 Index turned lower five months on average in anticipation. I don’t expect a recession in the foreseeable future, but look for slower economic growth in future quarters. U. S. consumers show few signs of spending any more of their fiscal stimulus money then they must. They spent only 29% of their March 2020 checks and saved the rest to build assets and reduce debts, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations. They spent even less of the December 2020 round, or 26%, and just 25% of their March 2021 money. Furthermore, consumer spending power is also falling. The recent burst of inflation reduced the real hourly earnings of production workers by 0.6% in June from May. Including the 0.6% decline in the work week, average real weekly earnings fell 1.2%, according to the Bureau of Labor Statistics. On top of all that, new Covid-19 cases are rising in a number of states as many Americans remain unvaccinated and the highly-transmissible delta variant spreads. So renewed lockdowns are a threat. At the height of the 2020 pandemic, yields on 10-year Treasury notes fell to 0.51%, before rising to around 1.30% now. A return to those lower yields is a definite possibility. To contact the author of this story: Gary Shilling at agshilling@bloomberg.net To contact the editor responsible for this story: Robert Burgess at bburgess@bloomberg.net

 

 93 /102 

0.2
Quick Wrap: Nifty Private Bank Index falls 2.03%, NIFTY Tumbles 1.07%

Nifty Private Bank index ended down 2.03% at 18330.2 today. The index has gained 1.00% over last one month. Among the constituents, HDFC Bank Ltd shed 3.37%, IndusInd Bank Ltd fell 2.72% and IDFC First Bank Ltd dropped 2.68%. The Nifty Private Bank index has soared 52.00% over last one year compared to the 44.49% increase in benchmark Nifty 50 index. In other indices, Nifty Financial Services index has dropped 1.94% and Nifty Bank index is down 1.88% on the day. In broad markets, the Nifty 50 has dropped 1.07% to close at 15752.4 while the SENSEX has dropped 1.10% to close at 52553.4 today.

 

 94 /102 

0.5
This Startup Raised $30 Million To Create Brain Maps To Aid Surgeries And Therapeutics

When Michael Sughrue was studying medicine in the early 2000s, surgeons didn’t have a full picture of the brain. While MRI and CT scans could spot structural abnormalities, they couldn’t tell how brain cells, known as neurons,were connected or how they communicated. “I didn’t want to hurt people when we did brain surgery. I couldn’t see where really important things in the brain were,” says Sughrue. That’s what motivated him to cofound Omniscient Neurotechnology along with Stephane Doyen. Their startup creates neuronal brain maps, which can aid decision-making related to surgeries and therapeutics. The Australia-based startup, which has U. S. offices in Wilmington, Delaware, announced a $30 million Series B financing on July 19, 2021 led by several Australian billionaires valuing the three-year old company at $295 million. With approximately 86 billion neurons wired together in convoluted electrical circuits, the brain is the most complex human organ. Brain maps can help doctors spot abnormal connections, the misfiring of neurons in patients with brain tumors, neurodegenerative conditions, anxiety and depression, Sughrue,42, says. It also helps map human emotions and intellect. Once doctors identify a cluster of misfiring neurons through the maps, they can use brain stimulation therapies such as trans transcranial magnetic stimulation with utmost precision, Sughrue adds.“It gives us the ability to look into someone’s brain, figure out what’s firing incorrectly and edit it,” he says. The technology to map neuronal connections in the brain, also called a connectome, was developed by applying machine learning algorithms to tens of thousands of MRI scans. “It is like Google Maps of the brain,” explains Omniscient’s CEO Stephen Scheeler, who was previously the CEO of Facebook for Australia and New Zealand. One of Omniscient’s products called Quicktome, which provides brain maps and visualizations of connections, received FDA approval in the United States in September 2020. Michael McDermott, a neurosurgeon at the Miami Neuroscience Institute, who also mentored Sughrue during his residency will is excited to use the new technology. “I thought it was the most amazing thing I had ever seen. It is a big step forward in our understanding of the functions and the interconnections of the human brain,” McDermott says. His center will soon start using Omniscient’s technology for his patients who may need brain surgeries. “No longer are we going to look at the white blobs on MRIs. We are also going to look at relationships of all (neuronal) fibre tracts and clusters,” he added. Omniscient is not the first to develop brain maps, but it perhaps the first to commercialize its use. The National Institutes of Health supported the Human Connectome Project, which was launched in 2009, to map the human brain. Based on the data from the project, two universities built a custom “Connectome” scanner with MRI technology that can visualize the brain’s networks in 10-fold higher detail than conventional scanners, according to a 2016 NIH press release. Omniscient’s founders, however, want to be the leaders in the field. “In the coming 20 to 30 years, there is going to be an operating system for brain data. There are going to be app stores for brain apps. We want to be the Google or app store of brain data,” adds Scheeler. Will Vicar, chief investment officer, Caledonia Investments, put in nearly $14 million, half of which was in the latest round, and says his investment is philanthropic. Vicar, who has known Sughrue since 2006, says the product could go global very quickly, given how desperately it was needed. The new funds will go towards new research and sales of the existing products which have received FDA approval. “We see this becoming a gold standard for diagnosis and treatment for all brain related ailments,” says Sughrue.

 

 95 /102 

0.1
Can $30 Million Solve Robinhood’s Legal Issues?

Robinhood Markets Inc., which filed this month for permission to sell shares to the public, has no shortage of legal and political issues. The Financial Industry Regulatory Authority and the Securities and Exchange Commission have both fined it for misleading customers, among other things; SEC Chairman Gary Gensler criticized it for the gamification of stock trading; the SEC is looking into the order-flow payments that comprise most of its revenue; Massachusetts regulators are trying to ban it; prosecutors have executed a search warrant for Chief Executive Officer Vlad Tenev’s personal cell phone; legislators have publicly grilled Tenev; famed investor Charlie Munger has described the company as “sleazy” and “beneath contempt.” So perhaps it shouldn’t be surprising that Robinhood has hired enough former employees of both Finra and the SEC to field a baseball team and still have three extra players — at exorbitant cost. Still, while it’s not the first company seeking to buy its way out of trouble, the speed and scale of its endeavor strike me as particularly brazen. Digging through LinkedIn, I found at least 12 Robinhood employees who had significant experience at either Finra or the SEC, and who were responsible for key legal and regulatory issues. That’s not counting those who left in a recent spate of departures — including Smeeta Ramarathnam, who had spent a decade at the SEC, including as chief of staff to former Commissioner Luis Aguilar, and subsequently risen to deputy general counsel at the company. Around the time of the exits, Robinhood redoubled its efforts to recruit lawyers and other executives with extensive regulatory resumes. The first big hire was former SEC Commissioner Dan Gallagher, who joined the company as its first independent director in October 2019 and was named chief legal officer in May 2020. Gallagher’s former chief of staff at the SEC, Lucas Moskowitz, joined Robinhood in August 2020. Four more came straight from Finra. Both the SEC and Finra have “revolving door” policies, which are supposed to prevent former employees from approaching them on behalf of new employers for certain periods of time. A spokesman for Finra said the agency is “really strict about this,” and keeps track of former employees for at least 12 months to make sure no violations occur. In the almost 13 years the policy has been in place, Finra hasn’t formally disciplined anyone for violations, the spokesman said. Given Robinhood’s legal and regulatory challenges, fielding a team of former regulators makes sense. Gallagher, in particular, is known for his connections in regulatory and political circles. Perhaps that’s why the company agreed to pay him a $4.2 million signing bonus, along with an unusually large number of options and restricted shares. In its IPO filing, the company estimated Gallagher’s compensation for 2020 at $30 million, even though he started only in May. The hefty compensation has had SEC attorneys past and present buzzing. The more typical path for a former SEC commissioner — take former SEC Chair Mary Jo White, for example — is to become a partner at a major law firm, or to land at a law school, as did Kara Stein, who overlapped with Gallagher at the SEC. “It’s hard to argue that you need to spend $30 million to bring a company into compliance unless they’re wildly out of compliance,” said Tyler Gellasch, a former senior attorney at the SEC who now serves as executive director of the Healthy Markets Association. “The compensation reflects the desire to stay out of regulatory problems without changing the business model.” When I sent an email to Robinhood seeking comment, another Finra alum responded: Josh Drobnyk, who joined Robinhood as vice president of corporate communications in January from a similar job at the self-regulatory organization. Drobnyk had nothing to say publicly, citing the company’s pre-IPO quiet period, but pointed to a blog post noting that the company was beefing up its legal, compliance and risk functions. Robinhood must disclose Gallagher’s pay because he’s a named executive. There hasn’t been any disclosure on what the company is paying the 11 other former Finra and SEC employees. Chances are it’s not insignificant. All told, Robinhood appears to be making a big bet that highly paid former officials, with their extensive contacts, can help keep it in business and reduce its regulatory costs. Given that the company has already been fined $135 million by Finra and the SEC and potentially faces additional regulatory and legal hurdles, the investment might actually be worth it. Whether that’s OK is another question entirely. To contact the senior editor responsible for Bloomberg Opinion’s editorials: David Shipley at davidshipley@bloomberg.net .

 

 96 /102 

0.0
Bitcoin Slides Toward $30,000| New Crypto Funding Record

BITCOIN STALLS AS BINANCE FACES MORE REGULATORY QUESTIONS Not a great week for bitcoin as it’s squeezing into a tight consolidation range in the low-$30,000s. The cryptocurrency, promoted as a hedge against inflation but still seen as a risky asset, took a dip on Tuesday, following a Labor Department report of an accelerating inflation. “Overall, the risk of downside below $30,000 on bitcoin is much higher now than what it was in the months of May and June,” writes Pankaj Balani, CEO of crypto derivatives platform Delta Exchange, in a note shared with Forbes. As of Friday morning, bitcoin is changing hands at a price below $32,000. The breakdown one direction or another may come as the Grayscale Bitcoin Trust (GBTC) will release a swath of its shares worth 16,240 BTC on July 17, one of the largest such unlocks to date. Analysts have been debating what impact the coming unlocks will have on bitcoin’s price. Meanwhile, the largest crypto exchange in the world, Binance, stopped selling tokens linked to shares of publicly listed companies a.k.a tokenized stocks in the face of the latest regulatory probe. On July 16, Hong Kong’s Securities and Futures Commission (SFC) said Binance was not licensed to sell “stock tokens” in the city. The move came a day after Italian regulators issued a similar warning and Binance faces further questions about its business model from officials around the world. CRYPTO VENTURE CAPITAL KEEPS SETTING RECORDS Crypto is poised to set a new record for the biggest private round fundraise ever. The France-based fantasy soccer game and non-fungible token (NFT) trading platform Sorare is close to completing a $532 million funding round, led by Japanese telecommunications company SoftBank with participation from London-based venture capital firm Atomico, at a $3.8 billion valuation. This round would add to an already lucrative 2021 for crypto startups, which has seen the top six funding rounds this year collectively raise more than $1.9 billion. An NFT platform setting a new record in this climate would also counter the narrative that the vertical is losing steam after a white-hot winter. PAYPAL UPS ITS BITCOIN LIMITS Are you buying crypto with PayPal? Good news: eligible PayPal customers in the U. S. can now buy up to $100,000 worth of bitcoin and other cryptocurrencies per week (up from a previous limit of $20,000) with no annual purchase limit. The payments giant launched its crypto services last October and later added the capability to buy bitcoin and a few other cryptocurrencies via its mobile payment app Venmo. While the firm has been quiet about its average monthly cryptocurrency volume, CEO Dan Schulman told Forbes in April he expected the number would hit $200 million within months. THE DIGITAL EURO PROJECT Central banks around the world are hard at work on digital currencies. On Wednesday, the Governing Council of the European Central Bank (ECB) launched the investigation phase of a digital euro project, a significant step that could lead to the issuance of a central bank digital currency (CBDC) in the euro zone. The announcement marks the beginning of a two-year investigation process, during which time the central bank will work to develop a functional CBDC design while also addressing questions related to its impact on monetary policy, financial stability and illicit activity. It will also evaluate necessary changes to the European Union legislative framework. Meanwhile, the pace of CBDC rollouts is picking up. In 2020 the Bahamas launched the first CBDC, the Sand Dollar. Additionally, the People’s Bank of China, running one of the most advanced such programs in the world, is already conducting real-world trials and announced earlier this month that 10 million people have been made eligible to participate in retail digital yuan trials. BLOCKCHAIN 50 SPOTLIGHT: SQUARE Two years ago, Square, the payments company headed by Twitter co-founder and CEO Jack Dorsey, started letting users of Cash App, its peer-to-peer money transfer and digital banking service, buy bitcoin. The app has grown to 30 million active users and generated $3.51 billion in revenue and $75 million in gross profit from bitcoin during the first quarter of 2021, each up approximately 11x year-over-year. Square currently holds approximately $250 million worth of bitcoin on its balance sheet and is working on a bitcoin hardware wallet and a new crypto development platform. ELSEWHERE Digital bank Revolut valued at $33 billion in funding round led by SoftBank and Tiger Global [ CNBC] China's Share Of Bitcoin Mining Slumped Even Before Beijing Crackdown, Research Shows [ Reuters] White House announces ransomware task force—and hacking back is one option [ Politico]

 

 97 /102 

0.1
Woman Shares $3k Cleaning Bill After Prosecco Bottle Exploded in Hot Car

While we all know not to leave pets or children in hot cars, it seems that your alcohol isn't safe either. A woman has issued a stark warning, telling people not to leave bottles of prosecco in a hot cars after her bubbly exploded. Jessica McCance, from Birmingham in the U. K., joked it was the priciest bottle she never got to drink, after sharing a breakdown of the cleaning bill. She uploaded a video to TikTok on Sunday, which can be viewed here, showing the interior of her damaged car. A broken bottle lies on the passenger seat, which was soaked with booze, while shards of glass had ripped through the lining of the roof. "Never ever leave a bottle of prosecco in a hot car," she captioned the clip, which has amassed more than 100,000 views. The on-screen caption said: "Learn from my mistake and never leave a bottle of prosecco in a hot car. Well that was the most expensive bottle of prosecco I've ever not had." She shared an email from a repair company, entitled "interior damage," revealing she'd been quoted more than $3,000 to fix her car. The email said: "Hi Jessica, the total cost would be £2,258 inc VAT. This includes parts and labour. It may be a call to your insurance perhaps to gauge their opinion. Should you need any more information please let me know." McCance jokingly added: "Just when I thought it couldn't get any worse," next to the amount, which works out at about $3,097. And it seems she'd received similar quotes, as she added: "I've spoken to so many and all of them say it's not repairable." "If a bottle of wine has a cork rather than a screw top, the cork itself is likely to explode off of the bottle rather than the glass itself exploding. If the bottle of wine has a screw top rather than a cork, there is a possibility of the glass exploding. "Plus, inexpensive wines are often packed in less expensive and thinner bottles that cannot handle as much pressure. However, there is far more likelihood of sparkling wine exploding than other types of wine due to the second fermentation process this wine goes through." The U. K. is currently in the midst of a heatwave, seeing highs of 88.88F, which pales in comparison to the scorching 122F seen across the Northwest and Canada last month. After sharing her life lesson, numerous people thanked her, as Ashleigh Louise said: "Thank you!! I've just took one out of my car." Anay Makan thought: "For £2,200 I could live with the damage." While Procrastination88 joked: "I'm surprised no one tried to nick it." While Josh pointed out: "Learn from your mistakes? Common sense may be in order instead."

 

 98 /102 

0.0
The Bond Market Loves New Jersey. Yes, New Jersey.

High taxes and living costs along with underfunded borrowing once seemed to explain why New Jersey has been the worst performer in the $3.8 trillion market for state and local government debt during much of the last decade. Then a new governor actually raised taxes and imposed new costs on business — and turned the state’s debt into the nation’s most desired by investors since he took office in 2018. Now New Jersey is one of only seven states with an improving economy over the last three-and-a-half years, measured by employment, personal income, home prices, tax receipts, mortgage delinquencies and the equity of their companies. It’s the only one of those seven with perennial leadership in public education and health care. The 11th most-populated state appears likely to re-elect the new governor,63-year-old Phil Murphy, who’d then become the first Democrat in 44 years to win a second term. Murphy stands out as the only U. S. governor who promised and delivered higher minimum wages, a tax on millionaires, paid sick leave, college financial aid, free community college tuition, stricter gun laws, legalized recreational marijuana and the first full payment to New Jersey's pension system in 25 years. “The two big attributes we have as a state are talent and location,'' Murphy said in an interview last week in his 14th-floor office surrounded by life-size photographs of New Jersey natives Danny DeVito, James Gandolfini, Jon Bon Jovi, Queen Latifah, Jack Nicholson, Meryl Streep and Bruce Springsteen — all on loan from the Newark Museum of Art. “We have the No.1 public education in America and we are No.1 per square mile in research and engineers in the world.” In contrast to their disdain for state debt during the two terms of Murphy’s Republican predecessor, Chris Christie, investors have made New Jersey the most lucrative holding among the five largest municipal borrowers with a total return (income plus appreciation) of 21.7% since the beginning of 2018, according to data compiled by Bloomberg. It’s crushing California,16.1%, New York,15.7%, Texas,16.2%, Massachusetts,15.6% the U. S. average,16.6%, along with the world's average for sovereign debt. During Christie's governorship, the state suffered four downgrades by rating companies and its bonds changed hands at the lowest prices relative to the market benchmark, according to data compiled by Bloomberg. Last week, Moody's Investors Service raised its bond-rating outlook for New Jersey from stable to positive, the first upward move since it last downgraded the state's credit rating to A3 in 2017. Unlike the other top six states that improved in six metrics 1 compiled by the Bloomberg Economic Evaluation of the States since Murphy took office, New Jersey has no peers for the diversity of its most-densely populated 9.4 million residents. Its taxes and living costs are high compared to those six — Alabama, Idaho, Kansas, Maine, New Hampshire and Ohio — but its recent successes contradict the political narrative of residents fleeing to Florida and Pennsylvania, according to data compiled by Bloomberg. On the contrary, New Jersey outperformed the 2020 U. S. Census estimates with a 5.7% population increase since 2010, greater than any of its neighbors. The longstanding commitment to public schools and health care goes hand in hand with the thousands of skilled workers employed by 14 of the world's 20 largest pharmaceutical companies in the state, including, Bayer Healthcare, Bristol-Myers Squibb Co., Johnson & Johnson Co., Merck & Co., Novartis and Novo Nordisk. Murphy said that supporting Big Pharma and Biotech means “we're investing at an all-time high in infrastructure” and committing “more money to child care, affordable housing, pre-kindergarten through 12th grade, free community college below specified income levels'' and wind farms on the Atlantic shelf as a climate change imperative. Christie initially refused to make any major investments in the third-richest state based on median income when he took office in 2010, and immediately rejected a chance to improve transportation infrastructure. That's when the federal government offered New Jersey $3 billion to build a rail tunnel to double commuter capacity to New York City to relieve pressure on the overburdened existing tunnel, built in 1910 and damaged in 2012 by Hurricane Sandy. Christie instead canceled the project, predicting cost overruns (without citing any evidence) in a rare period of disinflation and exceptionally low borrowing costs following the worst recession since the Great Depression. The new tunnel, which belatedly may be built under President Biden's American Jobs Plan, would have created at least 200,000 jobs, generated $9 billion in business revenue and $1.5 billion in federal, state and local tax revenue during nine years of construction, according to a March 2012 report by the U. S. Government Accountability Office. After the Christie cancellation, New Jersey's economic performance lagged behind for five years. Adjusted for inflation, median household income declined 12.2 percent to No.4 in the nation, compared with an average drop of 3.9 percent for the U. S. New Jersey was among only 12 states with deteriorating economic health defined by jobs, mortgage delinquency, personal income, home prices, tax income and stock performance, according to data compiled by Bloomberg. The same data showed Michigan and California, where infrastructure was a priority, as leaders in job growth. By the same measures, New Jersey plummeted to No.6 from the bottom. While there were many causes for the weak economy, transportation in New Jersey is vital. The state sends almost half a million people out of state for jobs, the most in the nation. The majority go to New York. Christie belatedly signed New Jersey's first gas-tax increase in almost 30 years after a 2016 spending freeze that left thousands of construction workers unemployed and various road, rail and tunnel projects behind schedule. He left office insisting that he reformed the pension system, but that claim was immediately discredited. So far this year, New Jersey is the biggest mover in the municipal bond market, increasing its weighting in the Bloomberg Barclays Municipal Bond Index the most of any state as a result of increasing issuance and the performance of state and local government debt financing improvements in infrastructure, education and health care. Of his latest budget, Murphy said: “Every kid in the state is going to be covered by health insurance. That's good for the kid, it's good for their family, it's good for society and our economy.” To contact the author of this story: Matthew A. Winkler at mwinkler@bloomberg.net To contact the editor responsible for this story: Jonathan Landman at jlandman4@bloomberg.net

 

 99 /102 

0.7
Former HKEX boss Charles Li joins US-listed bond trading platform

It is his first corporate role since Working from Hong Kong, Li will join the board to advise the Nasdaq-listed electronic fixed-income trading platform that is expanding rapidly across Asia. The company, based in New York, announced on Monday afternoon that he had started his new role on July 13. “I have a strong interest in market infrastructure companies. Joining the MarketAxess board will allow me to continue to learn and to further contribute to the buildout of electronic marketplaces for global fixed-income trading,” Li said in a Zoom interview on Monday. Li, who turned 60 in March, had indicated he would stay in Hong Kong, the city he has called home for the last three decades, and The appointment comes as Beijing is expected to soon announce the launch of the so-called southbound leg of About 2,600 global institutional investors have been approved to use the northbound channel to access China’s US$16 trillion bond market, which had a daily average turnover of 28.1 billion yuan (US$4.4 billion) in May, according to HKEX data. “Ever since my involvement with the MarketAxess chairman and chief executive Rick McVey said in a statement that Li’s “knowledge of market structure in Asia would be invaluable to MarketAxess as we expand our investment in the region.” Read more Hong Kong stock exchange boss Charles Li hints he will start finance business Read more Charles Li uses oil rigs-to-Wall St career to grow Hong Kong bourse Read more At 20, HKEX ‘has never been more relevant’ as bridge between China, world International bonds issued in Asia have increased more than fivefold from US$107 billion in 2006 to US$575 billion in 2020, according to data from the International Capital Market Association. China is driving the growth: the average number of international bonds issued from China increased from 20 deals per year during the 2000s to nearly 600 deals in 2020, the association’s data showed. “MarketAxess has created a unique, centralised global electronic marketplace that continues to expand internationally. The Asia region is growing rapidly, and it is a great time for me to join a global leader in fixed-income electronic trading,” Li said. “It is indeed a trend for major publicly-listed corporates to raise funds in the bond markets as they diversify their channels of funding.” McVey and Li had both worked at US lender JPMorgan Chase, but at different times. McVey joined in 1991 in the US and stayed until he founded MarketAxess in April 2000 with backing from the bank and other investors. The company now has over 1,800 international asset managers and institutional investors trading fixed-income products globally. Headquartered in New York, Market Axess has a number of international offices in cities such as London, Hong Kong, Singapore and Sao Paulo. Li, who He took home HK$120.49 million (US$15.55 million) in salary, bonus and share awards last year. Li was replaced by another former JPMorgan banker, The exchange’s market capitalisation has almost tripled since Li took over in January 2010 to HK$47.5 trillion (US$6.13 trillion) at the end of last year, and Hong Kong has been the world’s largest hub for initial public offerings (IPOs) in seven of the past 12 years. He also introduced the Stock Connect scheme for cross-border trading of shares between Hong Kong and Shanghai in 2014, adding the Shenzhen leg two years later. Recommended Video

 

 100 /102 

0.6
Car sharing gains traction in Maine

Douglas Mackell was nearing his last leg as an Uber driver in 2019 when one of his passengers introduced him to a new word. “Turo,” the passenger said. “I’m taking your Uber to pick up my Turo.” Turo, Mackell learned, is one of many car-sharing apps, such as Getaround, Avail and Car2Go, that allow car owners to rent their car online when they aren’t using it – essentially the airbnb for cars. A seasoned gig worker, Mackell knew an opportunity when he saw it. He purchased a new car to continue making deliveries, and listed his old car on Turo. “It absolutely blew up,” said Mackell, of Westbrook. “So I decided to strike while the iron was hot, and within two months I bought four cars.” Amid a national car-rental shortage that’s left travelers scrambling for cheaper alternatives, car-sharing platforms are on the rise, and Maine’s gig workers are expanding beyond four wheels. Though the majority of car sharers own under two cars and utilize car sharing for extra money to pay off their car loans or other debts, gig workers like Mackell, investing in a minifleet of cars, are dipping their toes into a U. S. car rental market that is estimated to be worth $39.9 billion in 2021, according to IbisWorld.com, an industry research firm. With the recent growth in car sharing, the state of Maine is trying to get in front of a host of insurance regulations. On June 27, Gov. Janet Mills signed into law a bill updating regulations established in Maine’s initial car-sharing legislation in 2019. That first measure was pushed by worried car-rental companies, such as Hertz and Enterprise, as part of an effort to weaken car-sharing platforms in Maine and across the nation. But the law left gaps in liability coverage and lacked important consumer protections. Updates in the most recent version of the law are based on a national model drafted by the nation’s top insurance and car-sharing companies and adopted by 11 other states. The legislation ensures coverage for drivers and car owners during the car-sharing period and continues to exempt providers and car owners from vicarious liability, or being held financially accountable for another’s actions. The new law also includes additional consumer protections, such as mandated record-keeping and disclosures, and clarifies the distinction between standard car rental companies and car-sharing platforms – a big win for the car-sharing industry, which is now facing similar battles across the nation. In 2019, the rental car industry argued that car-sharing platforms should be defined as rental-car companies and subject to similar sales taxes. Turo, the largest car-sharing provider in Maine, argued that it is fundamentally different from a rental car company because car-sharing companies don’t actually own any cars, and private car owners don’t receive the tax exemptions that car rental companies do. “Maine has decided to regulate the peer-to-peer car-sharing industry differently than rental car companies,” said Lou Bertuca, head of government relations at Turo. “Over a dozen states have decided to make that same determination, ensuring that traditional rental doesn’t dictate the terms of regulation and try to stifle the growth of this emerging industry.” The trade organization that represents the rental car industry, the American Car Rental Association, did not respond to a message from a reporter seeking comment. The Maine Trial Lawyers Association opposed the new law. The association cited concerns about the exemption of vicarious liability and a reduction in the required minimum insurance protections from three times the state minimum to just equal to the state minimum, which it saw as favoring car-sharing providers and not Maine’s consumers. “The Maine Trial Lawyers Association is excited about the potential ways that car-sharing programs can benefit Maine people and the Maine environment,” the association said in a statement. “However, we opposed the recent legislation because it rolled back protections for consumers and future casualty victims, in the fledgling, two-year old law, at their expense and in favor of insurance companies and corporations.” The association said it plans to pursue legislation to “restore consumer rights and correct legal ambiguities that we believe will cause court confusion if left uncorrected.” Meanwhile, with summer travel returning to Maine in full force, and car rental prices skyrocketing, car-sharing hosts are already seeing a large increase in demand. Jeffrey Laverdiere, a Portland resident, and his 13-year-old son, Sam, his main helper, currently own and operate a fleet of 15 cars on Turo. According to Laverdiere, their cars are booked into the fall. Depending on the make, model and year of the car, Laverdiere charges between $20 and $60 per day. Turo promotes that its platform offers rentals averaging around 20 percent below the average car rental company, but this summer some of the remaining cars in Portland exceed $100 per day. With 15 cars, Laverdiere charges a lower price, and says that his listings have been around half of what’s offered by the local traditional car rental market. But the money made with car sharing doesn’t always come easy. Hosts running fleets have to manage a pile of car debt, maintenance and parking payments. And above all, they need to have a high tolerance for headaches. Three years ago, on just his fourth rental on Turo, Laverdiere’s car was stolen by a drug dealer. Luckily, after two months, with the help of Turo, Liberty Mutual and a repossession company, he was able to get the car back undamaged. Now a seasoned car-sharing host, Laverdiere and his son understand what it takes to run a successful car-sharing fleet. According to Laverdiere, there are three elements to his success: “You have to have great knowledge of all the supporting apps to help you track your expenses and deductions, you need to have a good tax accountant – don’t try it yourself – and you absolutely have to have relationships, mechanics, people that are willing to be flexible and help you out.” Above all else, Laverdiere credits the mechanics at the garage in Gorham who work to keep his fleet maintained and fixed when problems do occur. Laverdiere and his son now leave their cars in undisclosed locations throughout the city, and allow for their guests to pick up their cars by accessing a key in locked boxes on the cars. He said they are making around $1,100 per month per car, with around 30-40 percent expenses the first year, due to extra maintenance to get the cars up to his standards, and 20 percent expenses afterward. Laverdiere said he is looking to eventually boost his fleet up to 30 cars. “We’re right on the edge of what I consider a tsunami, and I’m being conservative,” he said. Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page. Enter your email and password to access comments. Forgot Password? Don't have a Talk profile? Create one. Invalid username/password. Please check your email to confirm and complete your registration. Create a commenting profile by providing an email address, password and display name. You will receive an email to complete the registration. Please note the display name will appear on screen when you participate. Already registered? Log in to join the discussion. Only subscribers are eligible to post comments. Please subscribe or login to participate in the conversation. Here’s why. Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code. Send questions/comments to the editors.

 

 101 /102 

0.7
Transact only with registered payment system operators, BSP tells public

The central bank on Monday urged the public to deal only with legitimate payment system operators when making financial transactions to help ensure that their rights as consumers are fully protected. In a statement, the Bangko Sentral ng Pilipinas (BSP) said Filipinos should deal with, entertain product offerings, or carry out financial transactions only with BSP-registered Operators of Payment Systems. Under BSP regulations, operators of payment systems include cash-in service providers, bills payment service providers, and entities such as payment gateways, platform providers, payment facilitators, and merchant acquirers that enable sellers of goods and services to accept payments, in cash or digital form. The registration of a payment system operator allows the central bank to have oversight of the payment system it operates to ensure that it functions safely, efficiently, and reliably by itself and in relation to the National Payment System, consistent with the regulator’s objectives of consumer protection and financial stability. All payment system operators must register with the BSP pursuant to Circular 1049 which provides for the rules and regulations on the registration of operators of payment systems. According to the central bank rules, when a payment system operator is found to be operating without registration, the Monetary Board shall issue a directive to the entity to comply with the registration requirements. If the payment system remains unregistered, the Monetary Board shall issue an order for the entity to stop from operating a payment system without registration and to take immediate action to register. The central bank may coordinate with other regulators and concerned government agencies to inform them that the entity is operating a payment system without registration, and may be subjected to enforcement actions by the regulator. At present, there are 150 accredited payment system operators, with the oldest having been accredited since late 2019 and the newest receiving central bank imprimatur only earlier this month. To confirm if an entity is duly registered with the BSP, the public may view the list on the central bank’s website. The public is encouraged to immediately report unregistered payment system operators to the central bank.

 

 102 /102 

0.2
Fineotex Chemical gains on forming JV with Australia's HealthGuard

Fineotex Chemical rose 2.50% to Rs 98.35 after the company said that it has entered into a joint venture with HealthGuard Australia to become the exclusive global marketing and sales channel partner with joint operations from Malaysia. Fineotex Chemical will add to its portfolio the much-required metal-free safety for its customers around the world with all the required global certifications. HealthGuard will concentrate on developing cutting-edge solutions, that will be marketed and channelized across the world by Fineotex-Biotex, its exclusive channel partner for the entire range of products over several industries like textile, detergent, leather and allied industries. HealthGuard makes anti-microbial, anti-viral, anti-dust mite, antimosquito and anti-bed bug finishes. It is a well-known name in the Indian market with textile giants like Welspun, Trident, Himmatsingka Seide group treating their fabrics with its chemicals to make them safer for end use. Internationally, HealthGuard is approved as an antimicrobial active ingredient in M&S, TURNER BIANCA products. Globally customers use this product as it is an economic, safe and sustainable alternative to all heavy metal base chemistry like silver, zinc, copper. The synergy between HealthGuard & Fineotex - Biotex, will provide solutions that are the most durable metal-free sustainable chemistry (no silver, no zinc, no copper) antimicrobial and anti-viral sustainable chemistry in the market. Arindam Choudhuri, CEO of Fineotex Chemical, said: "The synergy with HealthGuard will add a crucial certified product line to our growing range of solutions and expand our global footprints. Protected and treated fabrics that are breathable, comfortable, and easy-to-care are going to increase in demand. As India and the world opens up gradually, just about everyone from students to factory workers, from tourists to staffers in the hospitality industry, will need to put on protected garments that can bring down the chances of them getting infected by the virus." Fineotex Chemical is a speciality chemical producer with a market leader position in the international textiles industry. The company has entered the next phase of growth by diversifying into growing home care and hygiene products, and drilling specialty chemical segments. The subsidiary in Malaysia, Biotex leads the R&D initiatives and the overall product development and is a Bluesign System Partner. The company reported a consolidated net profit of Rs 11.22 crore in Q4 FY21 as against a net loss of Rs 6.31 crore in Q4 FY20. Net sales during the quarter rose 72.14% YoY to Rs 75.02 crore.


Total 102 articles.
Version: 9.55.35971-219432. Input files: 1, items detected: 5827, scanned: 5827, accumulated: 102, inserted: 102, exclude filters: 0, include filters: 0, empty media: 340, filtered media: 405, duplicated media: 119, not matched limits: 555, passed http check: 0, not passed http check: 0, http check errors: 0, skipped: {total: 5724, by unique value: 0, by limits: 1169, by similarity: 90, by unicity: 526, by dates: 730, by classifier: 4036, by blacklist: 556, by mandatory tag: 0, from input files: 0}, bad dates: 0, similar from same domain: 1510, unique Ids: 9658, unchangeble patterns: 660, words comparisons: 79538529/9070649, python: 2.7.13 (default, Sep 26 2018, 18:42:22) [GCC 6.3.0 20170516], dynamic containers: {u'nlpu.stemWordsBackHash': -1, u'nlpu.languagesMap': -1, u'nlpu.languagesCache': -1, u'bcla.similarCache': -1, u'bcla.tagsClassificationPopWordsData': -1, u'nlpu.stopWordsCache': -1, u'nlpu.stemWordsBackHashFreqs': -1, u'bcla.autoWeightedWords': -1, u'nlpu.stopWords': -1, u'bcla.tagsSimilarityPopWordsData': -1, u'nlpu.synonimsReplacedCache': -1, u'nlpu.stemWordsBackHashFreqsStemmed': -1, u'bcla.synonyms': -1, u'nlpu.posHash': -1, u'bcla.notSimilarCache': -1, u'nlpu.stopwordsCustom': -1}; the same images URLs found 4745 times; total 0 languages detected: {}; {u'text': {u'chars': 8554468, u'bytes': 35160996, u'words': 1373281, u'sentences': 97802}}
Created at 2021-07-20 07:03