A party that has signed a letter of intent (LOI) may be legally bound to honor it depending on how the letter is drafted. In a business-to-business transaction, a letter of intent normally contains a provision stating that the letter is non-binding. Even if such language is not included, it is possible a court would rule that the
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In this article CLOV CLNE VIRT The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market maker Virtu Financial told CNBC on Wednesday. “There’s a lot of institutions, professional traders, speculators, whatever you want to call them, engaged in this in both the cash equities
Construction of the controversial Keystone XL pipeline was officially terminated on Wednesday, handing a big victory to environmentalists that had fought the project for more than a decade as they intensify their battles against other fossil fuel development. The decision by TC Energy and the government of Alberta to pull the plug on the $8bn
Sexual harassment is the norm for almost all young people in England’s schools and colleges yet teachers have done little to tackle it, an official assessment conducted in response to an online campaign against such abuse has found. Education inspectorate Ofsted said on Thursday that schools had to improve sex education and teacher training to
The forex markets can be exciting and lucrative for trading if you thoroughly understand how to buy and sell currencies. If you’re drawn to this area, you might even want to make it your career. Key Takeaways The foreign exchange (forex) market is the world’s largest asset marketplace by trading volume and liquidity, open 24/7
CNBC’s Jim Cramer said Wednesday that trading meme stocks is more gambling than investing. “It’s exciting. It’s fun, and it’s real,” Cramer said on “Squawk Box.” However, he added, “If you’re going to play it, I think that you can, I don’t know, go to the casino. These should be offered at the casino.” He
Rishi Sunak wants to build up the crumbling walls of the City of London. A G7 plan could raise the corporate tax rate for the world’s largest companies, helping to cover budget deficits swelled by the pandemic. The UK chancellor is seeking exemptions for City banks, citing already high capital requirements. The move smacks of
The Biden administration has revoked executive orders signed by former president Donald Trump targeting the Chinese-owned TikTok and WeChat apps, and issued a new order that steps up scrutiny of Chinese apps and software that could threaten the data of Americans. The order signed by President Joe Biden on Wednesday is the latest move to
Over the last century, Kraft Heinz Co. (KHC) has grown into a foods company behemoth with more than 200 household brands under its umbrella after decades of acquisitions. About 40 Kraft Heinz brands are more than 100 years old, including Heinz’s ketchup and Kraft’s processed cheese products. Five Kraft Heinz products bring in between $500 million
In this article AMC A sign hangs in front of an AMC theater on January 27, 2021 in Chicago, Illinois. Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Scott Olson | Getty Images Insider selling activity at AMC Entertainment ramped up like never before during
The price of goods leaving China’s factories has risen at its fastest pace since the financial crisis, piling pressure on policymakers as they grapple with the effects of a global commodity price rally. China’s producer price index added 9 per cent in May, data from the National Bureau of Statistics showed on Wednesday, its biggest
Australia has called on G7 nations to support reform of the World Trade Organization, arguing it was the best way to blunt Beijing’s campaign of economic coercion against Canberra and counter Chinese competition in the Indo Pacific region. Scott Morrison also supported President Joe Biden’s intelligence review into the origins of Covid-19 and warned that democracies had
Short Sales vs. Foreclosures: An Overview Becoming a homeowner is a dream for many people. It requires a lot of saving and a lot of discipline and it never hurts to have a great credit score. But sometimes, there are factors that can turn a person’s dream into a nightmare. You may lose your job
In this article BRK.A Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Warren Buffett’s Berkshire Hathaway made a $500 million investment in the parent company of Nubank, a privately held digital bank based in Brazil, the South American company announced on Tuesday. Nubank, which was
US tax authorities have launched an investigation into a leak of private records of billionaires including Warren Buffett, Jeff Bezos, Mike Bloomberg and Elon Musk that showed many of them have paid little tax even as their wealth ballooned. ProPublica published details of what it called “a vast trove of Internal Revenue Service data” covering
Andrew Edgecliffe-Johnson is right to argue that companies should pay heed to what campaigners are saying (“CEOs should heed difficult activists”, Opinion, June 4). However, unless chief executives and their boards are clear about their own values, and the values of the companies they run, they will fall down a rabbit hole into a world
Nike (NKE) is the largest seller of athletic footwear and apparel in the world. Its business is focused on product design and development, marketing and sales. Key product categories are running, basketball, the Jordan Brand, soccer, training and sportswear. Nike has 1,100 retail stores in the United States and internationally, and employs approximately 75,400 workers
An artist’s rendition of a Terran R rocket launching to orbit. Relativity Space 3D-printing specialist Relativity Space raised $650 million to step up work on a fully reusable rocket that will attempt to challenge Elon Musk’s SpaceX in less than three years, the company announced on Tuesday. The money will be used “to accelerate some
Facebook founder Mark Zuckerberg is buying Hawaii property again. In March, he and his wife reportedly paid $53m for 600 acres on Kauai, a Hawaiian island popular with second-home owners, where the couple purchased a home on 700 acres in 2014. Zuckerberg is not the only tech worker from California taken with the 50th state.
More than 800 people have been arrested around the world in a sweeping police sting that lured drug dealers, mafia members and other organised criminals to an encrypted communications platform secretly run by the FBI. Investigators said they monitored more than 12,000 devices used by more than 300 criminal syndicates in an operation that led
Deciding whether to leave an inheritance for your children impacts the amount you save, the retirement plans you choose and how you take qualified retirement plan distributions. However, beyond your desire to leave some wealth to your children (or not), there are some essential personal financial issues to consider. Consider Your Income Needs Some retirees
Cevian, Europe’s largest activist investor, has called on Aviva to return £5bn in excess capital to shareholders next year after building an almost 5 per cent stake in the FTSE 100 insurer. Rather than urging a change of leadership at the top of the London-listed group, Cevian is pushing chief executive Amanda Blanc to build
In this article .BBKA A customer shops for meat at a Costco store on May 24, 2021 in Novato, California. Justin Sullivan | Getty Images Inflation may look like a problem that will go away, but is more likely to persist and lead to a crisis in the years ahead, according to a warning from
The Chinese Communist party’s claim that it had eliminated extreme poverty has been challenged by a new study that argues Beijing used a limited and inflexible definition of what it means to be poor. Late last year, the party announced that extreme poverty had been successfully eradicated, despite negative economic growth in the first half of
What Are 5 Recession Resistant Industries? When a recession or an economic slowdown occurs, markets tend to become volatile leading investors to sell stocks. While some industries are very susceptible to economic changes, other industries perform well regardless of what’s happening with the economy. Although no company is completely recession-proof, the following industries tend to
Jeff Bezos takes a look at the New Shepard rocket booster on the landing pad after a successful NS-15 flight and landing in April 2021. Blue Origin Jeff Bezos will fly on the first passenger flight of his space company Blue Origin, which the company plans to launch on July 20, the billionaire announced on
US regulators have approved the first new treatment for Alzheimer’s disease in almost two decades by giving a green light to a drug developed by Biogen despite a rancorous scientific debate over whether the medicine works. In a significant moment for the roughly 35m people suffering from the cognitive illness worldwide, the US Food and
US officials say they have recovered $2.3m worth of the ransom payment made to hackers who shut down the Colonial Pipeline last month and disrupted the country’s fuel supplies for several days. Justice department officials said on Monday that they had identified a virtual wallet used by suspected Russia-based ransomware group DarkSide from which they
A credit analyst is responsible for assessing a loan applicant’s ability to repay the loan and recommending that it be approved or denied. Credit analysts are employed by commercial and investment banks, credit card companies, credit rating agencies, and investment companies. They may also work in the credit departments of a wide range of companies.
An AMC theatre is pictured in Times Square in the Manhattan borough of New York City, New York, June 2, 2021. Carlo Allegri | Reuters AMC Entertainment, the meme stock that amazed Wall Street recently, rallied double digits on Monday as speculative trading activity in the struggling movie theater gained steam. Shares of AMC jumped