In this article RKT Signage for Rocket Mortgage by Quicken Loans is displayed on a laptop computer in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Thursday, Aug. 6, 2020. Gabby Jones | Bloomberg | Getty Images Shares of Rocket Companies jumped as much as 8% on Monday after the
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San Francisco and six other counties in the Bay Area have reinstated a universal mask mandate for indoor public places. The requirement will take effect on Tuesday and will require individuals to wear a face covering when indoors in public settings, regardless of vaccination status. The US has administered at least one dose of a
Zillow is one of the most popular real estate databases online. Founded in 2006 by former Microsoft executives Rich Barton and Lloyd Frink, Seattle-based Zillow lists information about millions of homes for sale and rent across the United States and Canada. Users can search for a home in a particular area using different criteria including—but
A Belarusian sprinter at the Tokyo Olympics has taken refuge in Poland’s embassy in Japan after alleging she had been taken to the airport against her will having criticised her country’s coaches. Krystsina Tsimanouskaya, who earlier said on social media that she had been entered into the 4×400 relay even though she has never raced
The safest hedged portfolio would do no better than cash. Its perfect balancing of risks would earn nothing. That reality did not stop Allianz Global Investors, an offshoot of Europe’s largest insurer, from coming unstuck after offering supposedly protected returns. Tempestuous markets in early 2020 damaged its US Structured Alpha Funds, triggering client lawsuits and
The oil industry is driven by booms and busts. Prices typically rise during periods of global economic strength during which demand outpaces supply. Prices fall when the reverse is true, and supply exceeds demand. Meanwhile, oil supply and demand are driven by a number of key factors: Changes in the value of the U.S. dollar
HSBC said it would pay an interim dividend after its profit before tax grew more than fourfold to $5.1bn in the second quarter. Europe’s largest lender benefited from an improving global economic outlook as it continued to cancel provisions set aside to cover credit losses during the depths of the coronavirus pandemic that hit performance
Chinese authorities are rushing to trace and control the country’s first widespread appearance of the Delta variant as the worst coronavirus outbreak in more than a year spreads to at least 14 provinces. The National Health Commission reported 55 locally transmitted symptomatic infections on Monday, taking the total number of infections linked with a cluster
Gains or losses are said to be “realized” when a stock (or other investment) that you own is actually sold. Unrealized gains and losses are also commonly known as “paper” profits or losses. An unrealized loss occurs when a stock decreases after an investor buys it, but has yet to sell it. If a large
Joe Biden’s $1tn infrastructure package had enough support from lawmakers to pass the Senate this week, Republican senator Susan Collins said on Sunday. Collins said the bill could be introduced to the Senate floor as soon as late-Sunday, and that she expected it to be backed by at least ten Republican senators. Speaking on CNN,
A customer shops for groceries at La Tapatia Market during a blackout in Napa, California, on Wednesday, Oct. 9, 2019. David Paul Morris | Bloomberg | Getty Images The electric grid in the West is being tested like never before amid extreme-weather events, including raging wildfires and severe droughts fueled by climate change. Utility companies
Social bonds — sold to fund causes such as building hospitals and schools — are likely to remain a “significant chunk” of the growing market for sustainable debt, even if issuance reduces as the Covid-19 pandemic eases, according to a S&P Market Intelligence report. The value of bonds sold to fund social causes jumped nine-fold
There is a fierce debate among scholars about when exactly globalization began. Economic globalization is a historical process driven by the dual forces of innovation and technology. In the most general sense, globalization refers to the increasing integration of economies around the world. This heightened integration is the result of the movement of goods, services,
Donald Trump entered July with a war chest of more than $100m from his 2021 political committees, raising more than other Republicans in online donations during the first half of this year, new federal campaign finance filings show. Trump’s enormous cash flow — unprecedented for a former president — has renewed speculation that he is
Tesla’s Model Y compact crossover vehicles at a showroom in Shanghai, China, on January 18, 2021. VCG | Visual China Group | Getty Images Earnings season is well underway, as a number of mega-cap tech names released their financial results this past week. However, there’s still plenty more to come as several companies have yet
General Min Aung Hlaing, Myanmar’s junta chief, has taken the title of prime minister as head of a “caretaker” government, six months after the military seized power in a coup. The military commander also promised to lift the country’s state of emergency and hold elections by 2023, in a move anti-coup activists said was meant
Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. The median compensation for members of private company boards of directors was
Varda co-founders Delian Asparouhov, left, and Will Bruey. Varda Space Industries Varda Space Industries, a start-up founded less than a year ago by a pair with experience at Elon Musk’s SpaceX and Peter Thiel’s Founders Fund, has now raised more than $50 million as it works toward its first mission in the first quarter of
China’s central bank has urged further “rectification” of the country’s fintech sector, adding more pressure to tech groups besieged by intensifying regulatory scrutiny. The latest warning from Beijing, which did not name any companies, comes against a backdrop of strengthening headwinds for Chinese tech groups, equities markets and foreign investors in the world’s second-biggest economy.
Given the sky-high valuations achieved by market newbies, it is fitting that their prospectuses achieve equally ridiculous bulk. US-listed ride-hailing apps Didi and Uber both bombarded would-be investors with about 400 pages of information. Paytm, listing in India, this month bested the duo with a 500-page “red herring”, as preliminary prospectuses are known. This is
The Walt Disney Company’s (DIS) latest release Black Widow is turning into a fount of controversies. The movie, which recorded Hollywood’s best weekend opening of the year only to crash to one of the lowest box office grosses for a Marvel movie, generated headlines after theater owners criticized Disney’s business strategy. It is in the
In this article XOM CVX Michael Wirth, CEO of Chevron. Adam Jeffery | CNBC Chevron reported a second straight quarter of profits Friday as improving demand for petroleum products and a jump in oil prices boosted operations. The company also reinstated its share repurchase program. The oil giant earned $1.71 per share during the second
The consultancy firm Berkeley Research Group has been lined up to take control of the private equity fund that owns the Israeli spyware maker NSO Group, in a move that would give the Californian company an important say in NSO’s future. Investors in the Novalpina Capital private equity fund that bought the surveillance company in
Over 200,000 people marched in cities across France on Saturday in the biggest turnout of three consecutive weekends of protests, calling for an end to what they see as draconian rules forcing them to get vaccinated against their will. They marched down the streets of Paris, Lyon, Marseille, and elsewhere, shouting “This is a health
Spreads play a significant factor in profitable forex trading. When we compare the average spread to the average daily movement, many interesting issues arise. First, some pairs are more advantageous to trade than others. Secondly, retail spreads are much harder to overcome in short-term trading than some may anticipate. Third, a larger spread does not
People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., May 12, 2021. Andrew Kelly | Reuters The Securities and Exchange Commission said Friday it will require additional disclosures from Chinese companies seeking a listing on U.S. stock exchanges, following Beijing’s intensified crackdown on oversea share issuance. “In light of the
At the Tokyo 2020 Olympics, each day records are being set by the dozen. Globally, a different set of records are making history but for the wrong reasons. The number of so-called “planetary vital signs” hitting new highs and lows, despite the restraint to human activity from the pandemic in the past year, were highlighted
Russia’s central bank governor has warned that inflation is set to be a long- term phenomenon in her country, signalling that the bank is likely to continue with its tough monetary policy stance. Elvira Nabiullina told the Financial Times in an interview that public fears over soaring prices lay behind the central bank’s concerns. Sharp
Every year, about 40% of American adults visit at least one of the casinos that are located in Las Vegas, Nevada, in Atlantic City, New Jersey, or in one of the dozens of places in between, not to mention on the web. A lucky few take home a lot of money. Alas, If you win
MicroStrategy CEO Michael Saylor on Friday defended his enterprise software company’s debt-financed purchases of bitcoin, telling CNBC he sees buying the cryptocurrency right now as comparable to investing in Facebook in the social network’s early days. “We’ve got $2.2 billion of debt and we pay about 1.5% interest, and we have a very long time