Investing

Jeffrey Ubben Source: BusinessWire Activist Jeff Ubben thinks the market is mistakenly underappreciating Strategic Education because it is a for-profit education company. His firm, Inclusive Capital, has a more than 5% stake in Strategic Education. Since early June, the stock is down more than 40%, while the S&P 500 has rallied more than 12%. For-profit

Anglo-Swedish drugmaker AstraZeneca has agreed to buy US biotechnology group Alexion in a $39bn deal, marking the biggest agreement struck by a pharmaceutical company since the start of the Covid-19 pandemic.  The cash-and-stock takeover will deepen AstraZeneca’s core focus on immunology, by bringing a pipeline of experimental drugs that target rare diseases as it races

Adoption of renewable energy sources has risen since the Paris climate agreement was struck in 2015, when global goals were set for limiting the climb in global temperatures by cutting greenhouse gas emissions by 2050. Energy from renewable sources now accounts for 25 per cent of electricity, as shown in these charts of electricity production

What Is a No-Deal Brexit? With the Dec. 31, 2020, deadline for a trade agreement between the European Union and United Kingdom approaching, the risk of a “no-deal Brexit” is mounting. When the U.K. initiated Brexit—its exit from the EU—on Jan. 31, 2020, the Withdrawal Agreement provided 11 months for negotiating a new trade relationship and

The US has approved the Pfizer/BioNTech Covid-19 vaccine on an emergency basis, with the first shots set to be shipped within 24 hours. The Food and Drug Administration announced on Friday night it was granting an emergency use authorisation for the inoculation, which will be offered to healthcare providers and people in care homes first.

In a classic lesson of buying low and selling high, CNBC’s Jim Cramer on Thursday recommended investors trim their holdings in a number of speculative stocks he recently said are worth owning. After some of the stock picks put up triple-digit gains in a short timeframe, he advises trading at least the cost basis, or

Cheap index tracking funds beat the returns of private equity investments over the past two decades, according to a survey of pension schemes. The findings by CEM Benchmarking, a Toronto-based consultancy, raise more questions about claims of superior performance by private equity. CEM examined the net returns (after fees) of 330 pension funds and other

There is no tax filing status that confuses taxpayers more than the one called head of household. When you hear the term, what comes to mind? The breadwinner? The main source of household income? To the Internal Revenue Service (IRS), it’s not that simple. There are many rules that determine who can file their taxes

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. Susan Walsh | Pool | Reuters The Federal Reserve heads into its meeting next week in a familiar place, with a teetering economy that could be in

The UK is set to end financing for oil and gas projects overseas — a move that will strip out billions in underwriting loans to energy projects — as it works to burnish its green credentials ahead of a major climate summit.  Support for overseas fossil-fuel energy projects has totalled more than £3.5bn over the

Mexico’s central bank could appeal to the country’s highest court if rules requiring it to absorb excess dollars in the economy are approved, a move that bankers and critics say would undermine Banxico’s autonomy, put its reserves at risk and force it to launder illicit drug cartel cash. The bill was approved this week in

Every year, millions of Americans patiently wait for weeks to receive all of their necessary tax forms in the mail, dutifully gather them together and prepare their returns, and wistfully contemplate what they could have done with the dollars that went to Uncle Sam and their state governments. But not everyone is subject to this

Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer on Friday sharply criticized how investment bankers handled the recent initial public offerings for companies such as DoorDash and Airbnb, two tech companies that saw major pops in their stocks after they began trading this week. “I don’t want to say that the market is broken,

The pound fell more than 1 per cent on Friday as Brussels told EU leaders that “no deal” appeared to be the most likely outcome of trade talks with the UK, echoing a warning from Boris Johnson. But EU leaders also rejected the UK prime minister’s claims that the bloc is seeking to bind Britain

Telecoms regulator Ofcom has fined BT £6.3m for breaking rules when bidding for a public sector telecoms contract in Northern Ireland. The regulator said on Friday that BT’s network division failed to give the same information to rival Eir as it gave to the company’s own in-house team that was bidding for the same contract

The Families First Coronavirus Response Act (FFCRA) was signed into law March 18, 2020 as the second major legislative initiative designed to address COVID-19. So far, three coronavirus stimulus bills have been signed into law with a fourth currently in the planning stages. The Act, which is effective April 1 through December 31, 2020, addresses the impact of COVID-19

The 100,000 cocoa farmers Frank Okyere represents as head of Ghana’s Kuapa Kokoo co-operative eke out hardscrabble lives despite producing the raw material for a global chocolate industry worth an annual $100bn in retail sales. The world’s two largest cocoa producing countries, Ivory Coast and Ghana, have added a supplement to the sale price in

Peter Wells Several of the most populous states in the US reported daily death tallies that were close to records or among the highest in months. The latest figures came as California, the most populous US state, earlier today revealed a record daily death count and after the US as a whole on Wednesday reported

With stimulus talks at another standstill and vaccine momentum in the rearview mirror, U.S. equity markets fell today, bringing the S&P 500 and the Nasdaq off their record highs. The losses were mild with technology and stay-at-home stocks leading the declines.  This article is an excerpt from our free The Market Sum newsletter. Sign up here to

SpaceX’s Crew Dragon Endeavour seen docked with the International Space Station on July 1, 2020. NASA Morgan Stanley held its annual space summit virtually this year due to the coronavirus pandemic, but analyst Adam Jonas told CNBC that hundreds of investors and observers participated in the event on Tuesday as interest in the space industry

The Trump administration is planning to sanction Turkey over its acquisition of the Russian S-400 missile defence system, according to two people familiar with the matter. One of the people said the sanctions would probably be announced on Friday and were being crafted to be “as mild as possible” to placate Congress while avoiding serious

Morocco and Israel have agreed to “full diplomatic relations” in a US-brokered deal under which Washington recognises Moroccan sovereignty over the disputed territory of Western Sahara. “Another historic breakthrough today!” US president Donald Trump wrote on Twitter. “Our two great friends Israel and the Kingdom of Morocco have agreed to full diplomatic relations — a

What Is Bloomberg? If you work in the business world, there’s a very good chance you’ve heard of Bloomberg LP. The company is among the leading providers of financial news and information. It also provides price data, analyst coverage, analysis tools, and other services. it’s probably best known for its print and broadcast news services—it

Eurozone bond yields hovered around all-time lows and the euro rallied on Thursday after the European Central Bank announced further asset purchases and held rates steady. The euro climbed 0.4 per cent to $1.2132, close to its high of the year, after the ECB said it would expand its €1.35tn emergency bond-buying programme by another

The pace of new US jobless claims accelerated to 853,000 last week, after a fresh surge in coronavirus cases spurred a new round of shutdowns that has stymied the labour market’s recovery. Initial applications for unemployment benefits had increased from a seasonally adjusted 716,000 in the previous week, the US labour department said on Thursday.

As a technology, blockchain is quickly becoming unrivaled. Although the Internet has long been familiar with other peer-to-peer applications for file sharing, music streaming, and more, the idea that these types of networks can provide their own security and resources has only been around since 2008. In the decade since its inception, blockchain was mostly

Alice Woodhouse Developing economies in Asia will shrink at a slower pace than forecast this year on improved outlooks for India and China, according to the Asian Development Bank. The ADB forecasts economies in developing Asia are expected to contract by 0.4 per cent in 2020, an improvement on the bank’s forecast in September of

Australia has sold short term treasury bills at a negative yield for the first time in its history, joining Japan and a raft of European nations that are being paid to borrow money from investors. Investors snapped up A$1.5bn ($1.1bn) of three-month notes on Thursday at an average yield of 0.01 per cent, with some

We publish the work of so many writers, photographers, and illustrators, but too few are Black, Indigenous, or People of Color (BIPOC). We will change that. BIPOC communities continue to face challenges unique to them as they interact with the financial system, and we will do more to help address those challenges. This will be

The US Federal Trade Commission and 46 states have brought antitrust cases against Facebook, accusing the company of using its social-media dominance to crush competition and calling for penalties that could include a forced break-up. The FTC accused Facebook of conducting a “years-long course of anti-competitive conduct”, which included strategically buying up rivals that threatened its