Bill Ackman’s Pershing Square has been forced to restructure a $4bn deal to buy a 10 per cent stake in Universal Music, the company behind artists such as Taylor Swift, after US regulators objected to the original shape of the deal. Pershing had agreed last month to buy the stake from Vivendi, Universal’s owner, via
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European and Asian shares fell as growing concerns over Covid-19 outbreaks clouded the outlook for the global economy. In early morning trading on Monday, Europe’s Stoxx 600 index fell 1.4 per cent. London’s FTSE 100 dropped 1.3 per cent as England lifted most of its coronavirus restrictions. Optimism about the reopening was overshadowed by more
Shares of money transfer company, MoneyGram International, Inc. (MGI) spiked as much as 8% in intraday trading on July 16, closing up 2.9% at $10.27 on rumors of a potential acquisition by Private Equity firm Advent. According to the Financial Times, the company is said to be in early talks with Advent over a potential
Sharing is Caring! by Michael Snyder Did you know that the U.S. has averaged more than one and a half mass shootings a day so far this year? I know that sounds crazy, but it is true. Monday will be the 200th day of the year, and according to Wikipedia there have been 327 mass shootings up
Brian Armstrong, CEO of Coinbase, took to Twitter to tell his thoughts about the statements that Jackson Palmer, co-founder of Dogecoin, expressed last week. While Palmer now has a negative vision of the cryptocurrency industry, Armstrong is in the opposite field. To Armstrong, the cryptocurrency industry has its problems, but it still provides an alternative
New rhetoric from the Biden administration may add a degree of difficulty to the nonprofit hospital merger trend that remains solid in the wake of the COVID-19 pandemic. A total of 27 mergers and acquisitions involving not-for-profit and for-profit hospitals were announced in the first half of the year, compared to 43 for the first
Silver refreshes intraday top following a bounce off monthly low. Clings to 61.8% Fibonacci retracement, a sustained trading below 200-DMA keeps sellers hopeful. Silver (XAG/USD) prints corrective pullback near the monthly bottom, up 0.12% intraday around $25.70, amid Monday’s Asian session. In doing so, the white metal seesaws around 61.8% Fibonacci retracement level of March-May
Fed forced to admit that inflation will be higher and last longer than they predicted… by Peter Schiff of Peter Schiff Podcast Fed forced to admit that inflation will be higher and last longer than they predicted.June CPI numbers come in almost double Fed’s expectations.Highest monthly CPI increase in 13 years.Stock indexes are not a
Bitcoin (BTC) bulls have successfully defended the $30,000 level in the past few days but the failure to achieve a strong rebound has some traders worried that the price will eventually dip to new lows. In a series of tweets, Ecoinometrics said that the current correction “looks very similar to 2013” when Bitcoin took 197
While commission-free trades have become the norm for customers of discount online brokers, in October 2019, it was big news. Charles Schwab, TD Ameritrade, E*TRADE, and Ally Invest all cut equity commissions to zero the first week of October 2019, and Fidelity joined the crowd on October 10. Bank of America’s Merrill Edge extended free trading to all
Three of Britain’s most senior cabinet ministers — including prime minister Boris Johnson — will be self-isolating on England’s so-called “Freedom Day” on Monday, highlighting the surge in Covid-19 cases just as the country throws off its last pandemic restrictions. Johnson and chancellor Rishi Sunak were forced into a humiliating U-turn on Sunday after facing
This article from FT Globetrotter is part of a guide to Hong Kong and a new cycling series running all summer on exploring great cities by bicycle When I first started cycling in Hong Kong more than 15 years ago, I almost felt ashamed to admit my hobby to others. At the time, it was
As clients increasingly commit money to make a positive impact on society, “impact-first investing,” which puts social and environmental benefit ahead of financial return, is a logical next step for philanthropically inclined individuals and families looking for a way to make a difference. But they’ll need help from financial advisors, many of whom are already
As COVID-19 recedes, many companies are benefitting from rising retail and travel trends, as consumers leave their homes and spend money saved up during the previous year. One of those companies is tech giant International Business Machines Corporation (IBM). The company is expected to release its earnings report after-market close on Monday, July 19. (See IBM stock charts on TipRanks) Covering the stock in his
Sharing is Caring! by Mike Shedlock The CPI Measures Inflation and Other Widely Believed Economic Nonsense The Fed, mainstream media, and others have a spotlight on the CPI and that’s the wrong spotlight. Chart Discussion In the chart above I plot the Case-Shiller national home price index, the Case-Shiller 10-city index, the CPI, Owners’ Equivalent
Pinterest, YouTube, and Instagram have been the go-to for interior design inspiration in recent years, but TikTok is beginning to rival these platforms. While many people associate TikTok with Generation Z dance trends, it is also a great place for interior designers, hobbyists, and experts to share their tips, how-to advice, shopping hauls, etc. I
Jackson, Tennessee’s mayor is a fan of bitcoin and he wants the city to become a bitcoin hub in order to entice technology companies and innovation. Jackson’s mayor Scott Conger is in the midst of discussing creating legislation that allows Jackson residents to pay property taxes with bitcoin. Jackson, Tennessee’s Mayor Is a Fan of
Municipals had a firmer tone, but not enough to move benchmark yields, as the final new issues of the week priced with bumps in repricings amid a stronger U.S. Treasury market. Refinitiv Lipper reported another week of $2 billion-plus inflows, with high-yield making up $654 million, buttressing the sector’s strength. It marks the 19th consecutive
Today’s column addresses questions about which benefits on a worker’s record are subject to the earnings test, how survivor benefits are determined and whether having filed a restricted application for spousal benefits only mean you must file for retirement benefits at the same office. Larry Kotlikoff is a Professor of Economics at Boston University and
The Silver price finished last week, nudging against a major support level. So could XAGUSD be on the cusp of a significant shake-out? Despite inflation expectations hitting a 13 year high last week, precious metals failed to gain positive traction. Silver led the way lower, closing out the five-day performance with a 1.60% decline. Although
Having just gotten from the BOE an exemption from the “Basel 3” protocol that threatened to make the “paper gold” business prohibitively expensive for bullion banks, the LBMA… by Chris Powell of the Gold Anti-Trust Action Committee (GATA) Dear Friend of GATA and Gold: Having just gotten from the Bank of England an exemption from
Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution. From building bigger data centers to acquiring hardware inventories, these establishments have been making concert efforts to balance the
Apple Inc. (AAPL) resumed its dividend payments in 2012 after a 17-year hiatus. At the end of its fiscal year 2011, it had accumulated cash and cash equivalents of over $25 billion. That cash hoard has grown to $38 billion as of the end of the fiscal year 2020. Since then, Apple has seen a
Co-founder and director of Netflix Reed Hastings delivers a speech as he inaugurates the new offices of Netflix France, in Paris on January 17, 2020. Christophe Archambault | AFP | Getty Images As second-quarter earnings season kicks into gear, Wall Street analysts are highlighting the stocks that are poised to deliver impressive quarterly performances. The
Asian garment workers have been deprived of almost $12bn in wages and severance pay as international retailers cancelled orders and demanded price reductions in the wake of the pandemic, according to a labour rights group. The Clean Clothes Campaign said that roughly 1.6m garment workers had lost their jobs in seven Asian countries, including Bangladesh,
Hello and welcome to the working week. Firstly, thank you to all those who contacted me at jonathan.moules@ft.com about the new Week Ahead format. Please keep messaging me with your thoughts — whether you would like more of something or less of something else. I would also love to hear about the important events of
Interest in cryptocurrency has gained serious momentum in 2021. As waves of new retail investors join established institutions in evolving their investment strategies, your clients with crypto holdings may welcome ways to leverage their cryptocurrency gains and offset the tax implications. Contributing cryptocurrency to a donor-advised fund (DAF) has become a popular strategy to strategically
Just when we thought that COVID was starting to fade, the Delta variant has come our way. Is this the dreaded vaccine-resistant wave that will put economies back into lockdown? So far, at least, that doesn’t appear so – while this variant has shown the ability to infect people who are fully vaccinated, the vaccines
According to regional reports, El Salvador’s current leadership is in the midst of developing a stablecoin backed by the U.S. dollar. Meanwhile, others believe the stablecoin idea was scrapped now that Nayib Bukele’s government chose to leverage bitcoin. Some Say the Colón-Dollar Is Being Developed, Others Claim the Salvadoran Stablecoin Idea Was Scrapped There’s lots
“Not everything that can be counted counts, and not everything that counts can be counted.” Albert Einstein Indeed, this is hardly the only quote of Einstein’s that relates to personal finance, and almost certainly not his most famous. That award likely goes to: “Compound interest is the eighth wonder of the world. He who understands