At least 33 people have died and dozens are missing in the worst flooding Germany has seen in years following days of heavy rain that senior politicians have linked to climate change. Twenty people died in and around the Rhine city of Cologne, with two of them drowning in their own flooded cellars. Rivers burst
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Linklaters has elected Paul Lewis as its new managing partner, marking a full refresh at the top of the elite UK law firm after Aedamar Comiskey became its first female senior partner in May. Lewis, the “magic circle” firm’s finance chief, will succeed Gideon Moore, who has held the top job since 2016. “It is
The current resurgence in value stocks calls for a discerning eye to gauge the different factor exposures driving the value rotation. Value’s resurrection began late last year as COVID-19 vaccine distribution campaign geared up and expectations for economic reopening increased. This coincided with a market shift that favored value stocks over more expensive companies exhibiting
Though many biopharma companies recorded soft sales in the first quarter due to the pandemic, these companies continue to hit the headlines. While the coronavirus treatments are poised to remain in the spotlight, other regulatory and pipeline developments have rebounded after being impacted by the pandemic. For biopharma stocks, factors including clinical trial data, regulatory
In this article MS AMC Check out the companies making headlines before the bell: Morgan Stanley (MS) – Morgan Stanley beat estimates by 20 cents with second-quarter earnings of $1.85 per share, while revenue topped forecasts as well, helped by an acceleration in investment banking activity. Despite the beat, Morgan Stanley shares fell 1.6% in
Founder and CEO, Visual Lease. Poor management of your real estate leases exposes your business to a range of risks including unexpected terminations, defaults and overbilling by lessors. And with new lease accounting rules requiring leases to be reported as assets and liabilities on the balance sheet, poor lease management can also result in inaccurate financial
The world’s largest asset manager with $9.5 trillion under management, Blackrock, sees “very little” demand for cryptocurrencies, including bitcoin, according to CEO Larry Fink. Blackrock’s CEO Talks About Crypto Demand Larry Fink, the CEO of Blackrock, the world’s largest asset manager, talked about bitcoin on CNBC Wednesday as his firm announced a better-than-expected quarterly profit.
Mansions seen along the coast of Palm Beach, Fla. Getty Images Prices in Florida’s ultra-rich Palm Beach community hit an all-time high in the second quarter, as brokers grappled with a record-low number of mansions to sell. The average price for a single-family home in Palm Beach hit $11.7 million in the second quarter, up
A key and controversial provision of President Biden’s tax overhaul proposal would cost families billions of dollars in additional taxes is the proposed shift from ‘Step-up’ basis to ‘Carryover’ basis. In addition, death and gift would be deemed transactions, so heirs would face massive tax bills. These changes, though seemingly small, would add up to
Lagging attendance at the home of the King of Rock and Roll continues to batter the tourist-tax municipal bonds that were issued to gussy it up. The bonds were sold in 2017 for a development project at Graceland, the former residence and now resting place of Elvis Presley, which has become a worldwide tourist attraction
By Eileen Soreng (Reuters) – Gold prices climbed to a one-month peak on Thursday after U.S. Federal Reserve Chair Jeremy Powell soothed investor fears by reassuring that he was in no rush to tighten policy, lifting the metal’s appeal as an inflation hedge. Spot gold was up 0.3% at $1,832.23 per ounce, as of 0752
Although developments like these have been in the pipeline for some time, and they are far from unique to Europe by Claudio Grass via Claudiograss.ch The prolonged and repeated lockdowns, business closures and travel bans have caused widespread economic devastation and changed the way all of us live, work and interact with each other. These
Kieran Warwick, the co-founder of forthcoming NFT-powered gaming metaverse Illuvium, has revealed he made a gain of more than 9,000% from flipping a virtual plot of land purchased from the Axie Infinity metaverse. Warwick, the brother of Synthetix founder Kain, recounts purchasing the plots during mid-2020, noting there “weren’t too many use cases” for digital
There are a number of ways to rank the size of insurance companies. Companies can be measured by their market capitalization (the value of the company on a stock exchange) or by using sales figures, such as net premiums written in a year or how many policies were sold. Here, we examine the top 10
The chairman and CEO of the world’s largest asset manager told CNBC on Wednesday that he worries about a “silent crisis of retirement,” citing global monetary policies that create disincentives for savers. “Unquestionably, as central banks keep rates low, or negative in Europe, the savers are getting slammed,” BlackRock co-founder Larry Fink said on “Squawk
Welcome back. When I took this job, my friend Jonathan Guthrie said that the professional risk was that I would just end up writing, “boy, interest rates sure are low!”, in slightly different ways, day after day. He has not turned out to be entirely wrong. On the other hand, there do seem to be
The pace of China’s economic recovery rose modestly in the second quarter after signs of sluggishness in the world’s second-biggest economy had stoked expectations of greater policy support. On a quarter-on-quarter basis, China’s gross domestic product grew 1.3 per cent in the three months to the end of June, up from a revised 0.4 per
The SEC has settled unrelated cases with two wealth management firms for improper disclosure of conflicts of interest. On Friday, the SEC announced that Kestra Advisory Services would pay $10 million for allegedly failing to disclose compensation received by its affiliated broker-dealer for investing clients in certain mutual funds. Kestra Private Wealth Services paid an
The U.K. Competition and Markets Authority has given AstraZeneca (AZN) the green light to proceed with its acquisition of U.S.-based Alexion Pharmaceuticals (ALXN). The deal is expected to close on July 21. Upon closing, Alexion shares will be delisted from the Nasdaq. “We are very pleased to have secured this critical final clearance from the
Sharing is Caring! by Charles Hugh-Smith Great swaths of the American workforce are already on strike or slipping away from the dead-end treadmill. America’s labor shortage is complex and doesn’t lend itself to the simplistic expectations favored by media talking heads. The Wall Street cheerleaders extol the virtues of “getting America back to work” which is
This charming Engadine-style house in Bever, Switzerland, has been a year-round holiday home for the past three decades. Over the centuries uses have included a rectory, a farm, an artisan’s workshop and even the residence of a practitioner of mesmerism. Although the first record of the structure dates to 1762, its cellar walls go back
Visa is reportedly set to approve Australian crypto startup Cryptospend’s issuance of debit cards for spending bitcoin and several other cryptocurrencies. “We have a lot of demand for the card,” the company claims. Global card giant Visa is expected to announce later this week the approval of the issuance of a physical debit card that
Real estate agents Rosa Arrigo, center, and Elisa Rosen, right, work an open house in West Hempstead, New York on April 18, 2021. Newsday LLC | Newsday | Getty Images Homeowners saw an opportunity last week and seized it. A sudden and unexpected drop in mortgage rates sent borrowers to their lenders in droves, hoping
One of the trends that has emerged during the COVID-19 pandemic is the growth in the number of new, young investors, spurred on by easy-to-use investment apps and developments such as stock slices – the ability to buy a piece of a high-priced stock as opposed to a whole share. ADVERTISEMENT They have entered the
The Puerto Rico Oversight Board reached a verbal agreement with bond insurers on a debt repayment plan on Wednesday, two days after they reached an agreement with unsecured creditors representing the largest debt holders in the negotiations. Lawyers at Proskauer Rose LLP representing the Oversight Board, and federal Judge Laura Taylor Swain, agreed to delay
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – AVZ Minerals (ASX:AVZ) announced today that it has increased reserves, grade and the life of mine estimates for its Manono
Are you required to open the door? by John Whitehead and Nisha Whitehead via The Rutherford Institute “Experience teaches us to be most on our guard to protect liberty when the government’s purposes are beneficent.”—Supreme Court Justice Louis D. Brandeis A federal COVID-19 vaccination strike force may soon be knocking on your door, especially if you
In early 2021 Bitcoin and Ether price was the center of attention as each asset seemed to hit a new all-time high every 24-hours and traders called for $100,000 BTC and $5,000 ETH. Fast forward to the present and both assets are still more than 40% down from their all-time highs and the bulls calling
What Is the Difference Between the Different Cost Types? Fixed costs, total fixed costs, and variable costs all sound similar, but there are significant differences between the three. The main difference is that fixed costs do not account for the number of goods or services a company produces while variable costs and total fixed costs
In this article CLNE CLOVW GME AMC The price of AMC Entertainment stock has been cut in half from its peak amid a big rout in meme stocks this month as the reality of bubble-like rallies and failing businesses started to become apparent for Reddit-obsessed investors. The movie theater chain’s stock tumbled about 13% to