Month: July 2020

Documents released during a High Court action reveal more offensive comments about financier Amanda Staveley. …read more […]

(Bloomberg) — Zhong Shanshan, whose schooling was interrupted during China’s cultural revolution, worked in construction, as a reporter and in the bottled-water business. Today, he’s worth $17 billion after his drug company went public in April and the shares surged 26-fold.Known as Lone Wolf by the Chinese media, Zhong, 65, has a made-for-movie story, but it’s far from unique in China. At least 24 people have become billionaires this year through June from the country’s raging market for initial public offerings, including former teachers, accountants and software developers, according to data compiled by the Bloomberg Billionaires Index.Selling shares to the …read more […]

The Texas attorney general may sue Apple for violating the state’s deceptive trade practices law in connection with the multi-state investigation, according to the document, which was obtained by the Tech Transparency Project. The document did not provide additional details. The office of the Texas attorney general declined to comment. …read more […]

(Bloomberg) — Ballard Power Systems Inc., the second-best performing stock in Canada this year, is a new short at Lakewood Capital, the firm said in its quarterly letter, calling it a “consistently loss-making and cash-burning Canadian company.”Shares of the Vancouver-based hydrogen fuel cell maker have risen 139% this year amid burgeoning speculation that wide-scale adoption of hydrogen fuel cells may at long last be around the corner.New York-based Lakewood is skeptical on the fuel cell industry and views fuel cell stacks as a “low value-add product that is relatively commoditized.” The firm added that Ballard generates just over $100 million …read more […]

The number of Americans filing for unemployment benefits unexpectedly rose last week for the first time in nearly four months, suggesting the labor market was stalling amid a resurgence in new COVID-19 cases and depressed demand. The weekly jobless claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed nearly 32 million people were collecting unemployment checks in early July. Relentless labor market weakness puts pressure on the U.S. Congress to extend a $600 weekly jobless benefit supplement, which expires on July 31. …read more […]

When you buy shares in a company, there is always a risk that the price drops to zero. But if you pick the right… …read more […]

(Bloomberg) — Two years ago, Los Angeles Dodgers Chief Financial Officer Tucker Kain talked up a plan to whisk baseball fans to the team’s stadium in minutes using an electric-car filled tunnel, built by Elon Musk’s Boring Co. It would be ready, he said, in time for the 2020 baseball season.But on Thursday, when the Dodgers play their opening game against the San Francisco Giants, there will be no fans, thanks to the novel coronavirus. And even if there were, they’d have to sit in traffic as usual to get to the stadium the old-fashioned way.The project hasn’t advanced much …read more […]

Buy low, sell high. That’s the goal for most investors. But that adage ignores an important strategy. For example, Warren Buffett’s goal is to buy and hold forever. And he grows his wealth by holding passive income stocks.

So what are passive income stocks? They’re publicly traded shares of companies that pay dividends to shareholders. And the dividends are a prime source of passive income. After buying shares, it takes no work to earn those payments.
Unlike traders that buy and sell shares to turn a profit, investors in dividend-paying stocks will continue to see steady returns (as long as the company …read more […]

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Notorious boxer Mike Tyson, at 54 years of age, is stepping back into the ring after more than 15 years, with an exhibition bout set for September. The eight-round match, pitting Tyson against 51-year-old boxing champ Roy Jones Jr., will take place on Sept. 12, 2020, starting at 9 p.m. ET. The fight will be […] …read more […]

On the Move Breaking News: Mitt Romney tells reporters that he will not support President Trump’s Fed nominee Judy Shelton. …read more […]

Andrew Slimmon, Morgan Stanley Investment Management Managing Director and Sr. Portfolio Manager joins the On the Move panel to discuss the market recovery post pandemic. …read more […]

Iowa Senator Chuck Grassley joins Yahoo Finance’s On The Move panel to weigh in on the state of the economy and break down what the next stimulus package should include. …read more […]

A look at the shareholders of Western Digital Corporation (NASDAQ:WDC) can tell us which group is most powerful… …read more […]

(Bloomberg) — Traders who have been waiting for the right moment to bet against stock volatility have rarely seen the stars align like this.After soaring some 500% in the pandemic crisis, a popular strategy tracking the Wall Street fear gauge, formally known as the Cboe Volatility Index, looks ripe for a fresh plunge that would deliver gains for short sellers.The iPath S&P 500 VIX Short-Term Futures ETN — a $900 million long-volatility product with the ticker VXX — could soon get hit by a rare bout of bearish momentum, according to Dean Curnutt, CEO of Macro Risk Advisors. Thank technical …read more […]