The Dow has set a new record, as investors look beyond the COVID-19 spike to a vaccine.
CTRL is a biokinetic sleeve that gives personalized feedback in order to help users improve upon their golf swing. The innovative golf training tool carefully monitors a player’s swing using its signature “weightless” biokinetic sleeve in order to provide feedback on the three most important aspects of a golf swing: tempo, club face and club path. Two hyper-sensitive motion sensors magnetically snap onto the sleeve and turn on with a simple double-tap to deliver information to CTRL’s smartphone app.
Advancements in several key data and power delivery protocol standards bring a new level of convenience and capability to new car buyers.
(Bloomberg) -- India’s mass transit systems, unreliable even before the coronavirus pandemic, were shut off completely when the country locked down. As a result, Indians rushed to find alternative transportation, and that often meant used cars.A major beneficiary was Cars24 Services Pvt., an online marketplace for used cars based in Gurgaon, India. The company’s valuation jumped to more than $1 billion after a new round of funding, Cars24 plans to announce Tuesday. DST Global, an investment firm overseen by Russia-born billionaire Yuri Milner, led the $200 million deal.The investment doubles the total funds raised by Cars24 since the business was established five years ago. The chief executive officer and co-founder, Vikram Chopra, was an investment analyst early in his career at Sequoia Capital, one of the world’s most prominent venture capital firms and now a Cars24 investor. Chopra started Cars24 after having a hard time selling his Hyundai Accent before a temporary move to the U.S., he said. Daunted by the situation, he ended up giving his car to a friend instead, he said.By the middle of this year, Cars24 saw sales rise 20% from pre-lockdown levels. That followed some weeks in the spring when the site generated no revenue whatsoever. At first, Chopra thought the numbers reflected pent-up demand that would be short-lived but said sustained high levels of traffic to the site suggest otherwise. Cars24, which takes a cut of each transaction, is on track to generate estimated gross annual revenue of $600 million, Chopra said. “Our awareness among consumers has shot up dramatically,” he said.India’s pre-owned vehicle market is fragmented and dominated by mom-and-pop operations. Online retailers like Cars24, Droom and OLX, along with the automakers themselves, offer a more consistent buying experience, simplified paperwork and access to lenders. India lacks a system to establish fair values for used cars like Kelley Blue Book, making the process more complicated and opaque.As the pandemic drags on, trains and buses in Bangalore, Delhi and Mumbai have resumed service, but fear of contracting the virus is keeping many commuters away. Coronavirus cases in India surpassed 9 million; infections are soaring; and multiple cities are contemplating further lockdowns.For Cars24, the new investor brings, as its name implies, a global expertise. DST Global is based in Hong Kong and has backed a varied list of companies over the years, including Facebook Inc. and WhatsApp in the U.S. and Alibaba Group Holding Ltd. in China.In India, DST invested in the online shopping company Flipkart, which sold an 80% stake to Walmart Inc. two years ago in a transaction that valued the startup at about $20 billion, and built up the firm’s awareness of the challenges around online marketplaces in India. This year, DST invested in the country’s prominent education-tech startup, Byju’s. What made Cars24 stand out was its ability to handle so many steps, including remote inspections of vehicles, said Rahul Mehta, a Dubai-based managing partner at DST. “You have to be deep into operations,” he said. “These guys have done well.”(Corrects the nature of DST’s role in the deal in the second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Tim Peterson, Ruth Peterson, 933672 Alberta Ltd. Sorbrick Capital Corp., 812787 Alberta Ltd., Big Country Holdings Ltd., Norman Storch and Jeffrey P. Newhouse (the "Concerned Shareholders") each of whom is a shareholder of Rifco Inc. ("Rifco" or "Company") (TSX VENTURE: RFC), today announced that they have filed, and commenced the mailing of the Concerned Shareholders' Dissident Proxy Circular ("Proxy Circular"), in advance of the Company’s Annual General and Special Meeting of Shareholders, to be held at 3:00pm (MT) on Friday December 11, 2020. As previously announced the Concerned Shareholders' director nominees are Jared Priestner, Tim Peterson, Jeffrey P. Newhouse and Sean C. Aylward, each of whom is highly qualified and well- known in the business community.
Omnichannel Acquisition Corp. (the "Company") today announced that it has closed its initial public offering of 20,000,000 units. The units are listed on the New York Stock Exchange (the "NYSE") and began trading under the ticker symbol "OCA.U" on November 20, 2020. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols "OCA" and "OCA WS," respectively.
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Amazon Managed Workflows for Apache Airflow makes it easy to author, schedule, and monitor data processing and machine learning workflows in the cloud
Emmanuel Macron has loosened the grip of lockdown, which will be replaced by a curfew from 15 December, but called on the French to take responsibility during the festive season. This, as the country recorded 50,000 deaths from Covid. "We must continue our efforts," the head of state said during a televised address one month after the start of the second lockdown. "We must do everything to avoid a third wave, a third lockdown," he said.Hailing the mobilisation of the population, he welcomed the fact that the circulation of the virus had been "slowed down", but Covid-19 "remains very present" in France and the rest of Europe, he added.As a result, Emmanuel Macron announced that the easing of restrictions would not take place overnight but in three phases until January 20th. Its implementation will depend on the evolution of the epidemic, he warned.Phase 1The easing will begin on Saturday,, November 28: the lockdown will remain in place, but the certificate that people currently use when they leave home, will allow people to travel 20 km from home instead of one, and for three hours instead of one.He also lifted the constraints on Christmas shopping by reopening all so-called "non-essential" shops such as bookshops and clothing shops until 9 pm if they apply strict health protocols. "I know how great the wait [to open these businesses] is and how much they contribute to our daily life in our town centres," he said, after sustained pressure from professionals in recent weeks.The reopening of places of worship, which has been demanded by some groups, Catholics in particular, will be effective this weekend, but with a maximum capacity of 30 people at services.Restaurants and bars, however, will remain closed.Phase 2The second stage is set for December 15th, the day on which "the confinement can be lifted" if health conditions permit. It will be replaced by a curfew from 9pm to 7am throughout the country, with an exception for Christmas Eve and New Year's Eve, when people will be free to travel.A 'truce' at the end of the year has also been agreed upon by several neighbouring countries, such as the United Kingdom, which on Tuesday authorised family reunions from 23 to 27 December, while Germany plans to limit the number of participants in family celebrations to ten people.From December 15th, cinemas, theatres, and museums will be allowed to reopen, but gatherings and festive events will continue to be banned.Sporting activities for minors will also be allowed outside again from Saturday and in cinemas from 15 December.Phase 3The third phase will begin on 20 January with the potential reopening of restaurants and sports halls. However, no date has been set for the bars and discotheques.The high schools will then be able to be "fully open, with all the students" if the number of daily contaminations remains below the 5,000 mark, the president said. Universities will follow two weeks later. Vaccines The vaccination, which will not be compulsory, will be able start "in late December-early January" for "the most vulnerable people". France, together with the European Union, has "secured the number of doses" needed to secure the population, he said.After the first vaccines became available at the end of December, a second generation of vaccine is expected in the spring. For the tests, Macron also promised a maximum delay of 24 hours for the results by January. He also promised the deployment of rapid antigenic tests throughout the country. On the economic front, Emmanuel Macron announced that bars, restaurants and sports halls will be able to benefit from additional aid of up to 20% of their turnover if this amount exceeds the 10,000 euros that can be paid by the solidarity funds for businesses.Ski resorts closedFrance's ski resorts, among the most popular in Europe, will not be allowed to reopen in time for the year-end holiday season.Macron said he would consult with his European partners to coordinate start dates for the winter season.It was preferable, Macron said, to plan for a re-opening of the resorts in January "under favourable conditions". He promised an update with 10 days.The Haute-Savoie region in the French Alps on Monday had the highest number of virus infections per 100,000 people in the entire country, followed by the neighbouring Savoie region. Health authorities have warned that regional hospitals could be saturated quickly if crowds of skiers from France and abroad were allowed to travel to those regions. "Obviously we really want a reopening, but not at the cost of endangering public health," Jean-Luc Boch, president of the ANMSM association of mountain resort mayors, told AFP.France totals 350 ski resorts employing 120,000 people during the high season and generating an estimated 10 billion euros of income each year.
What would a Treasury Secretary Janet Yellen mean for stimulus, Fed policy, bank regulation and bitcoin?
From ‘Christmas bubbles’ to travel rules: Here’s everything you need to know about the festive five days of freedom
The Federal Communications Commission (FCC) said on Tuesday it had rejected a petition from ZTE Corp asking the agency to reconsider its decision designating the Chinese company as a U.S. national security threat to communications networks. The FCC announced in June it had formally designated Chinese's Huawei Technologies Co and ZTE as threats, a declaration that bars U.S. firms from tapping an $8.3 billion government fund to purchase equipment from the companies. The FCC on Dec. 10 will vote on rules to help carriers remove and replace untrusted equipment from networks.
Calls for chancellor to ditch ‘economic madness’ of public sector pay freeze
There are tons of Black-owned brands with Black Friday and Cyber Monday deals happening across fashion, beauty, wellness and more. Period underwear brand Ruby Love is currently running a buy more, save more sale through Thanksgiving where you can get up to 20 percent off your order. Curly and coily hair care lovers can enjoy Bread Beauty’s sitewide sale of 15% off.
(Bloomberg) -- Wall Street banks don’t have a consensus on how much municipal bond business they’ll have next year.Strategists that cover the $3.9 trillion state and local government debt market have 2021 supply forecasts that range from $375 billion to $550 billion. Low borrowing rates and issuance to bolster pandemic-induced deficits will lead to a record year of sales, according to some firms, while others believe that states and cities whose budgets were hammered by the coronavirus pandemic will refrain from selling bonds for new projects. State and local governments have sold $421 billion of long-term bonds so far this year.Citigroup Inc. analysts led by Vikram Rai had the highest forecast, projecting governments will sell $550 billion in municipal bonds next year. “We are convinced of extremely robust municipal supply next year,” the group wrote in a Nov. 2 note. “Municipal issuance will be utilized by public agencies and state and local governments to rebuild their respective budgets and economies (and infrastructure) as the nation recovers from the pandemic.”Tom Kozlik, head of municipal strategy and credit at Hilltop Securities, said he expects issuance to fall to about $375 billion next year, the smallest among the nine firms which provided forecasts. He said many deals were pulled ahead into this year and that governments will issue less for infrastructure projects because of revenue uncertainty and balance sheet concerns.“State and local governments and other municipal bond issuers are likely going to approach 2021 cautiously,” Kozlik wrote in a note dated Nov. 19. “We think there is still a significant amount of uncertainty about what revenues could look like for the rest of FY21 and for the beginning of FY22.”The range in forecasts illustrates the uncertainty that grips the state and local government debt market amid political debates over additional stimulus aid and the longevity of the coronavirus pandemic.“It’s a mixed bag at the state and local level which makes it hard to make a macro prediction,” said Natalie Cohen, president at National Municipal Research Inc., a consulting firm. While some local governments are contracting and may be cautious of taking on new debt, others are seeing a population surge and will need to sell bonds to finance infrastructure, she said. “You can’t just look at one side of the contraction and not look at the growth that is going on in a lot of communities,” Cohen said in an interview.The market would need about $440 billion of supply to meet current demand, according to Bloomberg Intelligence analyst Eric Kazatsky. His outlook is based on the latest muni-fund flows and bondholder reinvestment data.Read BI report: Technicals Provide Vaccine for 2021 Municipal-Credit ConcernsBankers have already seen a surge of sales this fall as governments rushed to market in October, selling a record $71 billion worth of debt as they sought to get in the market ahead of any election-related volatility.Nearly a third of the $421 billion of long-term muni sales so far this year were subject to federal income taxes, a 130% increase from the same period last year. Rates held near record lows for much of 2020, allowing governments to realize savings by refinancing outstanding debt with taxable securities.Analysts at UBS said that taxable munis are likely to maintain a “meaningful market share” in the coming year as issuers are “likely to continue to take advantage of refinancing opportunities through the taxable muni market.”Key InsightsState and local financial conditions in 2021 are likely to be closer to those seen in the second half of this year compared to 2019 leading to a “similar performance in the primary market calendar,” wrote Matt Fabian and Lisa Washburn at Municipal Market Analytics in a research note published Nov. 16. They forecast about $500 billion in total sales with about 30% taxable.Bank of America’s Yingchen Li and Ian Rogow expect sales to reach $470 billion next year, $170 billion of which will be federally taxable. Even with the expected uptick in sales, they said market demand will outweigh supply. The group expects overall municipal returns to be 3.5% in 2021.Morgan Stanley strategists project $520 billion in gross-supply in 2021, driven by taxable advanced refundings that will shift net issuance from the tax-exempt market, the team led by Michael Zezas wrote in a note. “We expect the impact of supply to be muted relative to macro drivers,” the group wrote, saying the supply uptick is unlikely to pressure performance.Analysts at Oppenheimer and Barclays both forecast a range of $420 billion to $440 billion in total sales. Supply will be lower than 2020 as municipalities “will likely be cautious about funding new projects in an uncertain economic environment, as well as issuers’ having pulled deals forward into this year,” Barclays analysts led by Mayur Patel wrote in a Nov. 10 research note.UBS analysts led by Thomas McLoughlin said that new issuance is expected to move lower as issuers are cautious about financing new projects in an uncertain economic environment. Bond ballot proposals were “relatively light” in November, which could depress future issuance, he said. The outlook could increase by a “meaningful amount” if Congress approves an infrastructure bill in the first half of 2021.RBC estimates total sales to reach $425 billion next year, below the firm’s 2020 projection, according to a research note by Christopher Mauro, the bank’s municipal desk analyst. “We anticipate that refunding activity will decline next year because we estimate that the pool of eligible refunding candidates in 2021 will be smaller than it was this year,” he wrote. Still, taxable advanced refundings will continue at a “brisk pace.”(Updates with new chart, last bullet to add RBC forecast)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of Beam Global (NASDAQ: BEEM) plummeted today, down by 11% as of 3:25 p.m. EST, after the company priced a secondary offering. Beam, which offers electric vehicle (EV) charging services powered by solar energy, has agreed to sell 250,000 shares at $30 per share, raising gross proceeds of $7.5 million. It's not uncommon for companies to price secondary offerings at a discount to the market in order to incentivize investors to purchase the newly issued shares, which helps the issuer raise fresh capital.
Kuno turned the tide during an assault on a compound in 2019
A House Democratic lawmaker is requesting a federal investigation into Sen. David Perdue’s (R-GA) purchase and sale of stock in a U.S. Navy contractor while he was chairman of a Senate subcommittee with jurisdiction over Navy spending, first reported by The Daily Beast last week.On Tuesday, Rep. Raja Krishnamoorthi (D-IL), the chairman of the House Oversight Committee’s subpanel on economic policy, sent a letter to Jay Clayton, chairman of the federal Securities and Exchange Commission, requesting he probe Perdue’s investment in BWX Technologies for any evidence of wrongdoing.In December 2018, a month before he was announced as the chairman of the Senate Armed Services Subcommittee on Seapower, Perdue began purchasing thousands of dollars worth of shares in BWX, which makes nuclear reactors and other parts for submarines. As his committee worked to pass the annual defense spending bill in 2019—which set aside $4.7 billion for a new submarine that the company specialized in—Perdue sold off his shares in BWX at a profit, with sales totaling as much as $385,000, according to his official financial disclosures.Perdue’s office has stated that the senator has no influence over his stock portfolio, which they say is managed by an independent adviser. His office did not immediately respond to a request for comment about Krishnamoorthi’s letter. A spokesperson for the SEC declined to comment.Under the STOCK Act, which passed in 2012, lawmakers are barred from using information they glean through their official duties for personal financial benefit. The law has proven difficult to enforce. But in recent years, many lawmakers have increasingly sold off their holdings of individual stocks so as to avoid the appearance of a conflict of interest, or placing those holdings in a blind trust. Indeed, after scrutiny of his trading earlier this year, Perdue announced he would sell off his investments in individual stocks.“I strongly believe that Members of Congress should be prohibited from buying or selling individual stocks while in office to avoid any potential conflicts of interest,” wrote Krishnamoorthi. “But until we pass this necessary legislative reform into law, it is incumbent upon the SEC to investigate whether Members of Congress, like Senator [Perdue], are in fact using their official positions to benefit themselves personally and to enforce the law to the fullest extent necessary.”Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
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It's deep into the fantasy football season, but there are still a number of players that could help you win your league on the waiver wire.