Month: July 2020

Microsoft Co-Founder Bill Gates joins ‘Influencers with Andy Serwer’ to discuss the Trump administration’s handling of the COVID-19 pandemic.
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In 2008, a housing crisis brought down the economy.
In 2020, it could bring down capitalism.
The idea is simple. As we write, 1 out of 3 renters is behind on their payments.
Two clear signals show this is a disaster in the making.
We’ll start with the financial fallout. It’s quite clear.
If folks don’t pay their rent, they lose the roof over their head. The effects of an eviction can span generations.
Of course, if renters don’t pay, landlords are in trouble too. Many landlords – even the big ones so many folks love to hate – collect the rent check with one hand …read more […]

Microsoft Co-Founder Bill Gates joins ‘Influencers with Andy Serwer’ to discuss the U.S. federal government’s pandemic response and how it can improve. …read more […]

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(Bloomberg) — The savers are getting restless.Running out of guaranteed ways to get meaningful returns, some people are increasingly being tempted to raid their interest-earning cash savings to load up on assets such as bitcoin, gold and stocks. The comfortable, if small, returns of high-yield savings accounts are looking less palatable as volatile assets take off.For a while, Brian Harrington, 28, had been satisfied with a high-yield savings account at Ally Bank, earning a risk-free 2%. Now, the marketing consultant in Anaheim, California, is planning to convert his remaining $15,000 in savings into bitcoin. He thinks the future is one …read more […]

IAG group says recovery will take at least three years as it announces plans to raise billions in new funds. …read more […]

Finnish telecom network equipment maker Nokia reported an unexpected rise in second-quarter underlying profit on Friday as it took on less low-margin business particularly in China, sending its shares up 13% in early trade. Cutting less-profitable service business and not winning 5G radio deals in the cut-throat Chinese market helped Nokia, where new Chief Executive Pekka Lundmark takes over this weekend, upgrade its earnings outlook for 2020. “We do not mind trading poor revenue which doesn’t have high quality margin for better revenue,” outgoing chief executive Rajeev Suri told Reuters. …read more […]

(Bloomberg) — Gold is set for the biggest monthly gain in more than four years after a weaker dollar and low rates fueled its surge to a record. Silver headed for its best month since 1979.Spot bullion is up 11% in July as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve currency of choice is at risk, and U.S. real yields fell to a record low. While the ferocity of gold’s rally cooled as the week wore on, it’s only about $10 shy of its all-time high and most market watchers predict there may …read more […]

(Bloomberg) — Nokia Oyj bumped up its full-year earnings guidance after slashing costs and overhauling its products to catch up with rivals in the market for fifth-generation wireless networks.The company expects diluted earnings per share of 0.25 euro cents, plus or minus 5 cents, versus a previous projection for 0.23 euro cents.Adjusted operating profit for the second quarter was 423 million euros, beating average analyst estimates of 289.8 million euros according Bloomberg-tracked ratings.Key InsightsChief Executive Officer Rajeev Suri’s last results as CEO mark a low-point for Nokia after it lost ground to competitors in 5G mobile networks and the coronavirus …read more […]

(Bloomberg Opinion) — When Nikola Corp. started trading on Nasdaq in June, the Phoenix-based clean transportation company raced quickly to a valuation of almost $30 billion.Its market worth has since fallen to a more reasonable $10.5 billion, but that’s still pretty spicy for a business yet to generate any revenue. Its most promising products are its heavy trucks, powered by electric batteries or hydrogen fuel cells.The rise of Nikola (whose name, cheekily, is another evocation of electrical engineer Nikola Tesla) will have reinforced a view among European auto industry executives that the U.S. stock market operates by different rules. While …read more […]

Finnish telecom network equipment maker Nokia reported an unexpected rise in its first-quarter underlying profit on Friday despite the COVID-19 crisis, while its new Chief Executive Officer Pekka Lundmark takes over this weekend. Lagging behind its rivals China’s Huawei and Sweden’s Ericsson in 5G network sales, Nokia said its April-June underlying earnings rose to 0.06 euros per share from a profit of 0.05 euros a year ago, beating the 0.03 euros consensus in a Refinitiv poll. Nokia, which had warned of a weak second quarter due to the virus, upgraded its forecast for 2020 underlying earnings …read more […]

Apple Inc. (NASDAQ: AAPL) Chief Financial Officer Luca Maestri signaled at the company’s earnings call Thursday that this year’s iPhone models, which are said to be 5G capable, might be delayed, CNBC reported.What Happened The Tim Cook-led company may not launch the next generation of iPhones in September, although, it isn’t known whether all, or only some, models of the iPhone 12 series are delayed.”As you know, the last year we started selling new iPhones in late September. This year, we project supply to be available a few weeks later,” Maestri said.Qualcomm, Inc (NASDAQ: QCOM) had earlier this week hinted …read more […]

(Bloomberg) — Apple Inc. pulled off a strong quarter in China by switching up retail tactics and pushing a cheaper iPhone, becoming one of the few U.S. tech giants to ride the country’s post-pandemic recovery despite Washington-Beijing tensions.IPhone shipments there surged a surprising 35% in the April to June period, research firm Canalys estimates, driving a 2% rise in Greater China revenue to $9.3 billion. Chief Executive Officer Tim Cook said sales actually grew 6% on a constant-currency basis, propelled by demand for Macs and iPads from millions now accustomed to working from home. Its out-performance in Greater China — …read more […]

Gilead said it expects total 2020 sales of $23 billion to $25 billion, up from its previous range of $21.8 billion to $22.2 billion. “We think this implies up to $1 billion to $3 billion of remdesivir, … a positive that was not expected at the start of the year,” said Jefferies analyst Michael Yee. Gilead’s second-quarter sales fell nearly 10% from a year earlier to $5.1 billion, short of the average analyst estimate of $5.3 billion, according to Refinitiv. …read more […]

Ford’s comments came as the company posted a quarterly profit thanks to an investment by Volkswagen AG in its self-driving Argo AI unit, more than offsetting a loss caused by a coronavirus-induced production shutdown. The better-than-expected results and earnings outlook sent Ford’s shares up 2.5% in after-market trading. Ford said it expects a pre-tax profit of between $500 million and $1.5 billion for the third quarter and a loss for the fourth quarter, which features three significant product launches delayed by the shutdown earlier this year. …read more […]