Under budget pressure from the COVID-19 pandemic, Colorado lawmakers withheld a $225 million contribution to the state’s pension plan for the current fiscal year, a decision that will have negative implications for the state’s Aa1 credit rating, according to Moody’s Investors Service. “The retreat from its plan to bolster poorly funded teacher and state employee
Month: July 2020
(Bloomberg Opinion) — Gold’s record run to almost $2,000 an ounce has burnished cash flows and driven a surge in shares of bullion producers. The rally provides a renewed test of discipline for Barrick Gold Corp. and peers after a similar climb a decade ago prompted a spate of inflated deals and overly optimistic investments that wasted billions. The 2020 redux
Debate has been exacerbated by the inconsistency of the recommendations of authorities (political, scientific, and imaginary). Early in the pandemic… by Chris Calton via Mises As the “fifteen days to slow the spread” continues to extend indefinitely, the issue of mask mandates has become increasingly contentious. The debate has been exacerbated by the inconsistency of
2020 has been a crazy year for car rental firm Hertz (HTZ). The year – so far – has included a bankruptcy, a probable NYSE delisting, and a stupefying post-bankruptcy share price run up of 1,200% that still can’t compensate for an overall 90% year-to-date decline. Add in an attempt to cash in on the
Check out the companies making headlines after the bell: Starbucks — Shares of the coffee giant jumped 5% in extended trading after the company posted its third-quarter financial results. The company reported a third-quarter loss of 46 cents per share excluding some items on revenues of $4.22 billion. Analysts surveyed by Refinitiv expected as a loss of
by Chris Vermeulen of The Technical Traders Our research team continues to attempt to navigate the difficult market dynamics ahead as traders’ concerns related to continued global economic functions persist. We believe the US stock market has rallied well beyond sustainable levels and the recent move in the US Dollar and Precious Metals has issued a clear warning
Key Takeaways Adjusted EPS was $0.18 vs the $0.16 analysts expected. Gross margin rose in line with expectations. Revenue also matched expectations as AMD grew despite global economic troubles. What Happened AMD announced its Q2 2020 earnings on July 28, 2020, and reported slightly higher-than-expected profits. While its revenue and gross margin matched what analysts
Virgin Galactic is giving its customers a first look inside the cabin that will carry them to the edge of space and back, as the space tourism company gets closer to finishing development of its spacecraft. “Every seat is a window seat,” Virgin Galactic design director Jeremy Brown told CNBC about the interior. The cabin’s design
China’s leading artificial intelligence start-ups Megvii and SenseTime are raising money and winning overseas contracts despite landing on a US blacklist last year, underscoring how Beijing’s brightest young companies are weathering the setback rather than scrambling to survive. Megvii, one of eight companies put on the US commerce department’s entity list nine months ago, is
FedEx pilots call on company to suspend Hong Kong flights over quarantines FedEx pilots have called on the company to suspend operations to Hong Kong for what they see as “unacceptable conditions” after crew who tested positive for the virus were hospitalised. Pilots from the FedEx Express unit of the Air Line Pilots Association said
A customer leaves a Sherwin-Williams Co. store Daniel Acker | Bloomberg | Getty Images With one-third of the S&P 500 reporting, there’s a battle shaping up between two stories. One is somewhat bearish: The reopening is slowing, and the second half will not see the V-shaped recovery anticipated at the height of reopening euphoria in
How do advisors help clients plan for college when its value is unclear during the coronavirus-era of virtualized learning? “We have a lot of parents who haven’t decided whether or not to send their kids to college this fall, which is crazy, since school starts in, what, a month?” says advisor Ann Alsina of CovingtonAlsina
Richard Heart’s controversial HEX token has launched an advertising blitz in the U.K., plastering ads on London public transportation, in newspapers, and during English Premier League soccer games. As reported by Twitter user Metallic Elmo, scrolling text appeared behind players at the series of soccer matches on July 26. “HEX price went up 11,500% in
Real estate agents could have their license revoked if they engage in racial discrimination on the … [+] job. getty After a newspaper investigation uncovered widespread race-based discrimination in the Long Island housing market, New York has passed a bill that puts a real estate agent or broker’s license on the line if they are
Max Keiser has predicted that bitcoin’s current bullish pattern will lead toward a price of $28,000. While the bitcoin bull does not give a timeframe when this is likely to happen, he believes that, thanks to relentless government money printing, the benchmark cryptocurrency will eventually test $100,000. But not before some correction. “$28,000 is in
getty Separate and apart from the Paycheck Protection Program (“PPP”) is the Economic Injury Disaster Loan (“EIDL”) program. Initially enacted many years ago to provide loans to businesses that have suffered from major storms, droughts, and other federally-declared disasters, the SBA has already advanced over $150 billion in EIDL money to borrowers who have verified
Municipal yields were steady to stronger on the long end Tuesday as Colorado sold notes and Seattle offered bonds, but those long-dated, smaller-coupon bonds are enticing investors. A Dallas, Texas, ISD bond, 4s of 2049, traded in large blocks at 1.72%, just about 30 basis points lower than AAA benchmark scales. A four-handle at 1.72%.
Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The recent rally in gold prices has brought retail customers to their dealers with renewed interest to sell their gold holdings. One
The Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies… by Ron Paul of Ron Paul Institute for Peace and Prosperity If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in
DraftKings (DKNG) announced on Tuesday that it is now the first official betting operator of the PGA Tour. Financial terms of the collaboration with the organizer of US golf tours weren’t disclosed. The partnership marks an expansion of a multi-year content and marketing relationship between the online betting giant and the PGA Tour. Back in
Traders wearing masks arrive before the opening bell at the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images Check out the companies making headlines in midday trading. McDonald’s — Shares of the restaurant chain slipped more than 2% after the company
by Shaun Richards The U.S. Mint made an unusual request last week. In a press release dated July 23, the bureau literally begged Americans to start putting coins back into circulation by spending or depositing them. As you may have noticed, people just aren’t making transactions with coinage like they used to. That’s especially the case now
U.S. markets have been stumbling over the past two weeks as a resurgence in COVID-19 cases has forced the re-closings of several states around the country. We are right in the teeth of earnings season, which is expected to be one of the worst on record. Financials led the way last week, and this week
A smart phone with the icons for the J.P. Morgan apps. Christopher Wong | S3studio | Getty Images JPMorgan Chase is ditching plastic for some of its credit cards. The Wall Street giant’s commercial cards team is partnering with Bay Area start-up Marqeta to launch digital-only credit cards. The new function will allow JPMorgan corporate cards
Joe Biden, the presumptive Democratic nominee for president, has vowed to push the Federal Reserve to narrow racial gaps in “jobs, wages and wealth” as he released a plan to tackle economic inequalities that have damaged minority communities for decades. Mr Biden’s proposal attempts to address the economic dimension of the “Black Lives Matter” movement,
Pemex’s refinery Antonio Dovali Jaime in Salina Cruz: Pemex said upgrades to its six refineries were bearing fruit © Mexico’s Presidency via REUTERS Mexico’s state oil company Pemex suffered a near-$2bn net loss in a second quarter blighted by its downgrade to junk status as its former boss, Emilio Lozoya, went on trial in a
A heavy-hitting former UBS advisor has joined an independent firm founded by several of his former colleagues, who defected from the same wirehouse several years ago. Steven Mitchell, who oversaw $2 billion at UBS, joined Procyon Partners in New York, according to the firm. It was founded by ex-UBS advisors in conjunction with Dynasty Financial
Despite Russia recently passing its first major legislation devoted to cryptocurrencies, the country’s central bank continues to treat the industry as a criminal area. Sergei Shvetsov, the first deputy governor at the Bank of Russia, has voiced the bank’s negative stance towards crypto investment. He compared cryptocurrency with financial pyramid schemes and roulette games. The
Montage Cay is a 48-acre private island in The Abacos Islands in the Bahamas. Montage Hotels & … [+] Resorts will develop 50 all-suite guest accommodations and a residential community on the island. Courtesy of Montage Cay Montage Hotels & Resorts, a global leader in luxury hotel management, will open its first resort in the
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Home prices continued to rise in May, albeit at a slightly slower pace than they did in April — likely due to the brief but sharp slowdown in home sales as the coronavirus
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