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Peter Wells in New York The US reported more than 57,000 new coronavirus cases on Monday, in line with its average over the past week, which in turn is at its highest level since early August. States collectively reported 57,148 new cases, according to Covid Tracking Project data, up from 48,922 on Sunday and compared

Dow component Intel Corporation (INTC) reports third quarter 2020 earnings this week after stumbling in July, beating second quarter estimates but lowering guidance due to delays in the rollout of the company’s 7nm-based CPUs. The stock fell 16% after the news, battered by shareholder disappointment and at least seven Wall Street downgrades. The decline stretched

CNBC’s Jim Cramer said on Monday that “we’re in some wacko market” because normally chasing stay-at-home stocks trading at off-the-charts multiples to sales would not make sense, but now the market is rewarding investors who do so. Cramer cited Zoom Video Communications at about 50 times sales and cloud company Snowflake at about 100 times

President Emmanuel Macron’s government has launched a crackdown on Islamists in France after the decapitation of a history teacher by a Chechen Muslim refugee, questioning dozens of militants suspected of promoting violence and announcing plans to ban radical organisations.  “Islamists should not be able to sleep easy in our country,” Mr Macron said after an

Any lingering doubts about the wave of consolidation engulfing the US oil and gas industry were put to rest by ConocoPhillips’ all stock deal for Concho Resources on Monday. Valued at $13.3bn including debt, this is not only the year’s biggest deal but the third major transaction in the US shale industry in under three

The year 2020 has brought a lot of surprises: a global pandemic, an economic downturn, millions of jobs lost, and withdrawal of American leadership from the global stage. But it hasn’t slowed down the initial public offering (IPO) momentum and those looking to profit from IPOs. Key Takeaways This year’s record IPO activity could rival

Danone is overhauling its management and structure and is planning to sell underperforming businesses as it seeks to recover from the shock of the coronavirus pandemic.  Chief financial officer Cécile Cabanis, a well-respected executive who has been at the company for 16 years, announced she would leave by February. The moves were a sign of

China’s economy expanded 4.9 per cent year on year in the third quarter as industrial growth powered the country’s recovery from the coronavirus pandemic. The expansion in gross domestic product missed expectations but was well ahead of a 3.2 per cent increase in the second quarter and represented a sharp turnround from a historic decline

Money laundering is a multibillion dollar industry that impacts legitimate business interests by making it much more difficult for honest businesses to compete in the market since money launderers often provide products or services at less than market value. Where a financial institution or business is also regulated by the government, money laundering or a

George Russell in Hong Kong Switzerland’s executive body, the Federal Council, on Sunday introduced new restrictions to counter what it called a “rapid rise in coronavirus infections”. From Monday, gatherings of more than 15 persons are prohibited, while wearing masks is compulsory in “publicly accessible indoor areas”, including in all railway stations, airports and at

North Korea’s pretrial detention system is rife with forced labour, sexual abuse and filthy prison conditions, according to testimony obtained by Human Rights Watch. The new allegations of rights abuses returns to the fore questions about whether the US and South Korea can hold Kim Jong Un to account for crimes in his country while

American Funds has been offering mutual funds since 1934. Based in Los Angeles, it is a subsidiary of global asset manager Capital Group. Capital Group is America’s seventh-largest asset management firm with assets under management (AUM) of $1.7 trillion, as of June 2020. It provides wealth management and financial advisory services to high net-worth individuals,

Europe’s economy is sliding towards a double-dip recession, with economists warning that rising coronavirus infections and fresh government restrictions on people’s movement are likely to cut short the region’s recent recovery. Germany, France, the UK, Italy, Spain and the Netherlands have all announced measures in the past week to contain the second wave of Covid-19

Evan Spiegel, CEO and co-founder of Snap Inc. Adam Galica | CNBC With earnings season gathering pace, now is the time to re-evaluate your portfolio. However, in such an unpredictable environment, investors need to be particularly savvy when making critical investing decisions. “Markets are now hoping for (and trading on) a smooth election, a big

Britain’s biggest care home lobby group has criticised the sector’s regulator for failing to “stop the car crash” during the first months of the Covid-19 pandemic and provide sufficient support and oversight. Faced with the most acute crisis to hit care homes and their residents in decades, Care England, which represents the larger chains as

China has been the largest exporter of goods in the world since 2009. Official estimates suggest the country’s total exports amounted to $2.641 trillion in 2019. In 2013, China became the largest trading nation in the world. The United States previously held that position. The title of largest exporter of goods in the world has

The head of the Japanese games group behind the hit Final Fantasy series has warned that Covid-19 has caused “time to stand still” on production of new titles, threatening to undermine an industry boost from global lockdowns. Yosuke Matsuda, chief executive of Square Enix, told the Financial Times in an interview that while the $145bn

Since July’s agreement by EU leaders to establish a €750bn coronavirus recovery package funded by borrowing, investors have been preparing for the arrival of Brussels as a major force in bond markets. That shift begins in earnest as soon as this week with the bloc due to sell the first bond under its separate €100bn

Key Takeaways All five franchises on this list belong to American professional sports leagues. Out of the five franchises, three of them play in the NBA. The most valuable sports franchise in the world is the Dallas Cowboys, who are worth $5.5 billion. It is no secret that the world of sports is big business.

More than 70 British business groups representing more than 7m workers have made a last-ditch attempt to persuade politicians to return to the table next week to strike a trade deal between the EU and UK. Organisations from across British business in automotive, aviation, chemicals, farming, pharmaceuticals, tech and financial services sectors have united to

Ming Dao, a 57-year-old Chinese-American who came to the US almost 30 years ago, is a recent convert to Donald Trump’s campaign. Over the past two years, he has started at least 10 social-messaging groups with names such as “Americans for President Trump” to reach fellow Chinese-American voters. But these groups could disappear at any

Approximately 2,000 Robinhood accounts were accessed by hackers and looted during the week of October 5, according to Bloomberg. Victims told Bloomberg that their trading accounts were hacked in spite of already having set up account protection. A Robinhood spokesperson tells us, “A limited number of customers appear to have had their Robinhood account targeted

As Robert Smith laboured under a criminal tax investigation in recent years, the billionaire private equity executive played hardball with the Internal Revenue Service. Mr Smith, the founder of Vista Equity Partners, had hidden $200m from the taxman offshore and evaded some $43m in taxes from 2005 to 2014, he admitted in a settlement this

Integrated circuits on a circuit board. The semiconductor industry has been in focus during the U.S.-China trade war. filonmar | E+ | Getty Images Company: ON Semiconductor Corp (ON) Business: A premier semiconductor company that focuses on power and sensor products. ON Semi’s segments include (i) Power Solutions Group, which offers a range of discrete,

French police have detained nine people after a Chechen Muslim decapitated a history teacher near Paris on Friday for having shown his pupils satirical cartoons depicting the Prophet Mohammed in a lesson about freedom of speech.  The assassination of 47-year-old Samuel Paty in a street near the school in Conflans-Sainte-Honorine was immediately condemned by the

In classical economics, no concept is more important than that of utility. The theory of utility is that every transaction we make in the marketplace is an attempt to maximize our satisfaction, however we choose to define that. While utility is at the top of the list, convenience isn’t far behind. A company that makes

Did Arsène Wenger get the balance right between being a football manager and being a person? “I got it completely wrong,” he laughs. “I would not advise anybody to lead the same life. Sometimes I think what kind of human being I might be, because to be obsessed like that and sacrifice everything — I

In this edition of Scoreboard, we explain why a deadlock in bailout talks for lower-league clubs could cost the English Premier League more than just cash, how Liverpool FC and Boston Red Sox owner John Henry is flexing his own Moneyball muscle, what an uptick in women’s football transfer activity means for pandemic-era trends, and

The CUSIP number, also known as the Committee on Uniform Securities Identification Procedures number, is a unique nine-character identification number assigned to all stocks (and registered bonds) in the U.S. and Canada. It is used to create a concrete distinction between securities that are traded on public markets. The system is in place to facilitate

Nikola’s share price fell 16 per cent on Friday as investors worried that General Motors might decide against taking a stake in the truck start-up. Mark Russell, chief executive, exacerbated the concerns on Thursday, telling Bloomberg that the embattled company had a “base plan” for moving forward if GM walked away from a deal announced