Markets
- ECONOMY
The Future of Money Is Digital, But Is It Bitcoin?
(Bloomberg Opinion) — The idea that much of today’s cash use will shift to digital tokens is neither faddish nor outlandish, as…
Read More » - ECONOMY
Saudis Bet ‘Drill, Baby, Drill’ Is Over in Push for Pricier Oil
(Bloomberg) — Saudi Arabia just made a high-stakes wager that the glory days of U.S. shale, which transformed the global…
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Here’s What’s in the Senate’s $1.9 Trillion Stimulus Legislation
(Bloomberg) — Senate Democrats on Thursday released an updated version of the $1.9 trillion stimulus plan that Majority Leader Chuck…
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SpaceX denounces Justice Department’s subpoena in hiring practices investigation as ‘government overreach’
The SpaceX Falcon 9 rocket and Crew Dragon capsule stand upright on the launchpad at NASA’s Kennedy Space Center ahead…
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Texas Watchdog Says Power Grid Operator Made $16 Billion Error
(Bloomberg) — A firm hired to monitor Texas’ power markets says the region’s grid manager overpriced electricity for almost two…
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Morgan Stanley raises GE target to $17, a high among Wall Street banks
Morgan Stanley is now the biggest General Electric bull on Wall Street after analyst Josh Pokrzywinski raised his target on…
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Heavily shorted Tanger Outlet stock pops 20% in sudden move
Tanger Outlets in National Harbor, Md. Mark Gail | For The Washington Post | Getty Images Shares of Tanger Factory…
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Republicans Shouldn’t Be Democrats-Lite
(Bloomberg Opinion) — Republicans seem to be toying with the notion that the best way to erase the taint left…
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Market Correction Continues As Trip.com Results Deliver
Key News Asian equities were a sea of red following the US’ downward performance on rising US Treasury yields. Fed…
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Baidu Said to Win Hong Kong Bourse Approval for Second Listing
(Bloomberg) — Chinese search engine giant Baidu Inc. has secured approval from the Hong Kong stock exchange for a second…
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Exxon CEO Darren Woods promises investors a strong dividend despite 2020 losses
Exxon CEO Darren Woods emphasized the oil giant’s commitment to its dividend after the company lost more than $20 billion…
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‘Buzz’ ETF tracking social media sentiment launches Thursday amid Reddit manias in stocks
The logos of Google, Facebook, Instagram, Twitter, Snapchat and TikTok displayed on a computer screen. Denis Charlet | AFP via…
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Where Are We in Finding the Coronavirus’s Origin?
(Bloomberg) — More than a year after Covid-19 touched off the worst pandemic in more than a century, scientists have…
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U.K.’s Go-Big Budget Masks Spending Cuts Seen as Austerity 2.0
(Bloomberg) — Prime Minister Boris Johnson’s government is being accused of dropping its pledge to end austerity after cutting a…
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Deliveroo picks London for $7bn IPO
Food delivery company Deliveroo has chosen London for its initial public offering. In a 4 March press release, the firm…
Read More » - ECONOMY
Renegade Crypto Exchange Enlists Mainstream CEO for Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
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U.K. Debt Chief Hails Gilt Liquidity as Reason for Calm on Rout
(Bloomberg) — The head of the U.K.’s Debt Management Office is hardly batting an eye over the meltdown in U.S.…
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Renegade Crypto Exchange Turns to Mainstream CEO for a Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
Read More » - ECONOMY
CLSA Loses More Than Half of Its Hong Kong Bond Sales Team
(Bloomberg) — CLSA Ltd. has lost more than half of its fixed income team that focuses on bond sales in…
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Japan’s Genesia Leads $700,000 Vietnam Digital Media Investment
(Bloomberg) — Japan’s Genesia Ventures Inc. led a $700,000 investment in Vietnam startup Vietcetera Media targeting the nation’s growing middle…
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With Michaels Buyout, Apollo Picked a Weird Time to Get Crafty
(Bloomberg Opinion) — Michaels Cos.’ management has crafted a lucrative exit for shareholders. The arts and hobby supplies chain announced on Wednesday that it had…
Read More » - ECONOMY
Junk Bonds Prove to Be a Shelter From the Rates Storm
(Bloomberg Opinion) — The junk-bond market has never offered such low yields. And yet, it might just be the best…
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Now Could Be Buffett’s Moment to Lend America a Hand
(Bloomberg Opinion) — From a new presidential slogan of “Build Back Better” to an economy strained by supply chain problems…
Read More » - Market
Shares of Rocket Companies are dropping after a 70% irrational pop in the heavily shorted name
A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket |…
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Exxon Outlines Plan to Boost Returns and Grow Its Dividend
(Bloomberg) — Exxon Mobil Corp. outlined a target to achieve returns of least 30% on new projects after reducing capital…
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The oil industry is getting greener much more quickly as U.S. focus shifts to climate change
A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford |…
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Regional Bank M&A Won’t Easily Fix the Tech Gap
(Bloomberg Opinion) — Regional U.S. banks are having something of a moment. After M&T Bank Corp. agreed last week to buy…
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Economists see first signs in data that vaccine is working
Economists following the high-frequency data on virus infections are seeing initial signs that the vaccine is having positive effects on…
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Japanese billionaire to fly eight members of the public on SpaceX moon flight
Japanese billionaire entrepreneur Yusaku Maezawa speaks at SpaceX’s headquarters in Hawthorne, California. Michael Sheetz | CNBC Japanese billionaire Yusaku Maezawa…
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Policy Credibility Is Hard to Earn and Easy to Lose
(Bloomberg Opinion) — Some emerging markets managed to stage a great escape from the ravages of Covid-19 by deploying all sorts of…
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Billionaire Fund Manager to Pay $105 Million in NY Tax Case
(Bloomberg) — A billionaire hedge fund manager agreed to pay $105 million to New York, the biggest fine of its…
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China Investors Await Policy Signals to Boost Faltering Stocks
(Bloomberg) — China’s renewable energy, defense and technology sectors are poised for a boost from the nation’s top political meeting…
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SpaceX is building a factory in Austin, Texas for Starlink satellite internet equipment
The contents of the Starlink Kit for customers, which includes the satellite antenna dish, a stand, its power supply, and…
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Intel Told to Pay $2.18 Billion After Losing Texas Patent Trial
(Bloomberg) — Intel Corp. was told to pay $2.18 billion after losing a patent-infringement trial over technology related to chip-making.…
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Shares of Rocket Companies, a large short target of hedge funds, jump more than 20%
Shares of Rocket Companies rallied more than 20% Tuesday in a surprising move on no apparent new news. The online…
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China Bank Regulator Warns Of Foreign Equity Bubbles
Key News Asian equities were mixed as India and South Korea outperformed. The biggest catalyst was China Banking and Insurance…
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The record boom in blank-cheque firms could make 2021 the year of the Spac
The boom in special purpose acquisition companies – or Spacs – is set to continue and this year looks on…
Read More » - ECONOMY
Bond Tantrum Has Big Silver Lining for Pensions
(Bloomberg Opinion) — As is often the case with large market swings that evoke the specter of a “regime change,” it’s…
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Carbon Emissions Made a Rapid Recovery From Covid
(Bloomberg Opinion) — The chief benefit of the International Energy Agency’s new monthly data on global carbon emissions, published Tuesday,…
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Fed policy changes could be coming in response to bond market turmoil, economists say
Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott |…
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BlackRock Warns of Whipsawed Emerging Markets After Taper Scare
(Bloomberg) — There’s no immediate end in sight for bond investors getting tugged between risk-on rallies and selloffs that rekindled…
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Why Changes to Hong Kong’s Stock Index Are a Big Deal
(Bloomberg) — The Hang Seng Index is undergoing a dramatic overhaul aimed at giving investors who track it greater exposure…
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Rocket Lab CEO says SPAC deal is ‘a supercharger’ for growth and adds ability to launch astronauts
CEO Peter Beck stands at the base of the fairing, or nosecone, of the Neutron rocket the company is developing.…
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Warren Buffett owns more of a Chinese electric car company than General Motors
Chinese battery and electric vehicle maker BYD shows off a model of its Han EV series at the 2020 Beijing…
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Investor Michael Farr: Inflation worries are rising, but there may be a happily ever after for markets in sight
Yellow Dog Prod. | Image Bank | Getty Images After a wild final week of a volatile month, it’s becoming…
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New York attorney general warns cryptocurrency industry: ‘Play by the rules or we will shut you down’
A visual representation of digital currencies. Yuriko Nakao | Getty Images New York Attorney General Letitia James sent a blistering…
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South Korea’s Coupang Seeks Up to $3.6 Billion in New York IPO
(Bloomberg) — South Korean e-commerce giant Coupang Inc. is seeking to raise as much as $3.6 billion from an initial…
Read More » - Market
Satellite data company Spire goes public via SPAC, adding to a growing list of public space plays
A Spire satellite pictured in orbit. Spire Global Small satellite builder and data specialist Spire Global is planning to go…
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Goldman says that investors shouldn’t worry about interest rates at these levels
Traders on floor of the New York Stock Exchange. Source: New York Stock Exchange Rising bond yields that shook investors…
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Fed’s Brainard Sets Out Reform Plan for Covid-Stressed Markets
(Bloomberg) — Federal Reserve Governor Lael Brainard described a broad regulatory reform agenda for the coming months aimed at fixing…
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