As a Utah helicopter crew buzzed over the southeastern part of the state looking for big horn sheep last week, sitting beneath them in the middle of the desert was a bright shiny monolith, the stuff of sci-fi sagas. Pilot Bret Hutchings of the state Department of Public Safety recalled someone on board spotting the gleaming metal object firmly implanted in a small clearing set against the redness of the rocks and sand below. “He’s like, whoa, whoa, whoa, turn around, turn around,” Hutchings told KSL-TV in Salt Lake City.
The impending US leader says the idea of a hard border being reimposed is “just not right”.
Asian stocks made early gains on Wednesday, following a world rally overnight that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. The main drivers of that exuberance were increasing confidence a COVID-19 vaccine would be ready soon and the formal start of U.S. president-elect Joe Biden's transition to the White House, which ends weeks of post-election political uncertainty. President Donald Trump's apparent willingness to comply with the formal transfer of power also boosted investor sentiment, following weeks of legal challenges to the election results.
Pick up a piece of IKEA history at this one-off sale, which touts classic products by Verner Panton and Niels Gammelgaard
Just as star anchor Sean Hannity and other high-profile Fox News figures were due to be deposed about their promotion of a bogus conspiracy theory about the death of former Democratic National Committee staffer Seth Rich, the conservative cable network last month threw in the towel and moved to settle a lawsuit brought by Rich’s parents that threatened to expose a wealth of new details about one of its most embarrassing screw-ups in recent years. The settlement between Fox News and Rich’s parents, Joel and Mary Rich, was publicly disclosed Tuesday, but with no details about the terms.
Pinterest is getting into online events. The company has been spotted testing a new feature that allows users to sign up for Zoom classes through Pinterest, while creators use Pinterest's class boards to organize class materials, notes, and other resources, or even connect with attendees through a group chat option. The company confirmed the test of online classes is an experiment now in development, but wouldn't offer further details about its plans.
On Tuesday, amid much contention, the Los Angeles County Board of Supervisors hotly debated a public health officer order that will close outdoor dining on Wednesday. On Sunday, after the county’s five day average went over 4,000 cases for the first time, county officials announced that restaurants, wineries and breweries would halt in-person dining (including […]
The Offshore Oil and Gas Pipeline Market will grow by USD 2.79 bn during 2020-2024
Global Superabsorbent Polymers market is expected to grow by USD 3 billion as we reach 2024, due to the impact of the COVID-19 pandemic in 2020.
Dallas Cowboys backup linebacker and special teams player Luke Gifford has been suspended two games without pay for violating the NFL policy on performance-enhancing substances. While Gifford has played only one defensive snap this season, he has played 121 snaps on special teams with three tackles in the six games he has played for the Cowboys (3-7). Gifford will miss games the next two Thursdays, the Thanksgiving Day game at home against Washington, and then a week later at Baltimore.
(Bloomberg) -- Carson Block is having an unusually tough time betting against Chinese stocks.The famed short seller’s recent calls to unload shares of GSX Techedu Inc., TAL Education Group and Joyy Inc. have largely backfired after the stocks rallied following brief dips when his reports were first posted.“GSX, after we reported it, tripled,” Block said in an interview with Bloomberg Television. “There is clearly something wrong.”Block, founder of Muddy Waters Research, isn’t questioning his methods. He blames options traders, small floats and investors taking advantage of low volumes to push the Chinese stocks back up after his calls.The result has been a grim year of shorting China equities for Block, who earned his reputation following successful bets against companies like Noble Group Ltd., the commodities firm in Singapore, and Sino-Forest Corp., a Canada-based timber company that operated in China.GSX, the online education firm that Muddy Waters called out in May, soared more than 200% through August before paring some of its gains. TAL Education has almost doubled since Block announced his short position more than two years ago.GSX has said Muddy Waters doesn’t understand its business model. TAL Education called the report erroneous and deceptive.“Given the infamy of short sellers and unchanging methods, a short sell report essentially puts a bullseye on their back asking for a short squeeze,” Justin Tang, head of Asian research at United First Partners, said in an email. He also noted the impact of the recent market rally. “Short sellers are swimming against the current at the moment, given the overhang lifting from the U.S. elections and the coronavirus vaccine.”The trend is playing out again with Joyy, the streaming service that plunged 26% on Nov. 18 when Muddy Waters announced its short call. The stock is crawling back, down just 12% since before the call, eroding gains from Block’s short bet.Block said Joyy is a “fraud” that’s a zero since 90% of the “gifters” who are allegedly paying for entertainment on Joyy’s servers are robots.“The reality is that the vast, vast, vast majority of the gifters are fake and the money is round tripped and recycled” Block said in the interview with Erik Schatzker.Joyy has said Block doesn’t understand the way streaming services work in China.“Muddy Waters’s report is full of ignorance about the live-streaming industry and the live-streaming ecosystem,” Joyy said in a statement. “The report contains a large number of errors with unclear logic, confusing data, and hasty generalizations.”Insane AlphaBlock says about 65% of the names he has shorted over the past decade have declined in the long term, generating added value, or alpha, for his clients. One of his notable winners this year was in China -- Luckin Coffee Inc. is down almost 90% since his January bet.“What we short generates pretty insane alpha,” he said, without elaborating on his returns. “This year, all bets are off.”Matt Wiechert, founder of Bonitas Research LLC, agreed it’s been difficult to short stocks in China this year, with the pandemic making it harder for proper due diligence to detect potential fraud.“This has been an unusually tough year staying short Chinese stocks,” he said in a phone interview. “Investors seem to be caring less about owning frauds than in previous years.”Block meanwhile reiterated his call for the U.S. Securities & Exchange Commission to delist the Chinese firms that it can’t properly monitor.“This is China and the Chinese stock promotion, manipulation fraud machine laughing in the face of the SEC,” he said. “If they are ripping us off, then we need to delist. Otherwise this is a total joke and what’s the point of the market?”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.
Netflix, which has invested more than $500 million to gain a foothold in India in recent years, is slowly finding out just about what all could upset some people in the world’s second-largest internet market: Apparently everything. A police case has been filed this week against two top executives of the American streaming service in India after a leader of the governing party objected to some scenes in a TV series. Narottam Mishra, the interior minister of the central state of Madhya Pradesh, said a First Information Report (an official police complaint) had been filed against Monika Shergill, VP of Content at Netflix and Ambika Khurana, Director of Public Policies for the firm, over objectionable scenes in the show that hurt the religious sentiments of Hindus.
As the pandemic surges, people berated the outgoing president for patting himself on the back over the Dow Jones milestone.
Instead of taxing electric vehicles, heavy vehicles should pay more for the damage they cause. But this would upset powerful industries, so don’t hold your breath
Mark Latham 'filibusters' on NSW energy bill, forcing upper house to sit around the clock. One Nation MP moves hundreds of amendments in attempt to stop electricity infrastructure roadmap being passed this year
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of HP Inc. (NYSE: HPQ) between November 6, 2015 and June 21, 2016, inclusive (the "Class Period") of the important January 4, 2021 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for HP investors under the federal securities laws.
The Flexible Pipes Market for Oil and Gas will grow by USD 123.54 mn during 2020-2024
Britain's government is on track to borrow roughly 400 billion pounds this financial year as it struggles with the social and economic impact of the coronavirus pandemic that has killed more than 55,000 people. As a share of the economy, this will be the highest borrowing since World War Two, reflecting how Britain suffered a deeper slump in the first half of 2020 than other major economies. But even with public debt above 2 trillion pounds, the cost of interest is low at under 2% of gross domestic product.
The top team in the first set of playoff rankings has finished the regular season at No. 1 in three of the playoff's first six years.
(Bloomberg) -- A global equity rally picked up steam on Wednesday after U.S. stocks climbed to fresh records, with cash continuing to flow into cyclical sectors. The dollar extended its decline.Asian shares opened with gains and futures on the S&P 500 Index pushed higher after the index closed at an all-time high and the Dow Jones Industrial Average topped 30,000 for the first time. Helping sentiment overnight was the formal start of President-elect Joe Biden’s transition, a clearer sense of what his Treasury Department will have in policy preferences after he nominated Janet Yellen to the post and a third promising vaccine candidate. U.S. bonds were steady after the Treasury yield curve steepened on Wednesday. Oil held its surge.Positive vaccine news has fueled optimism that the global economic recovery can continue despite more troubling news on the virus front, with cases rising and more U.S. states enacting restrictions ahead of the Thanksgiving holiday. Next up Wednesday comes a slew of American economic indicators, from jobless claims to readings on consumer confidence and personal income.“Looking three to six months out, we do think the recovery will maintain its momentum,” Anna Han, equity strategist at Wells Fargo Securities LLC, said on Bloomberg TV. “When you see that reflation trade coming back, it’s telling you that investors are gaining confidence in growth prospects looking forward.”Elsewhere, Bitcoin rose to a three-year high, topping $19,000 as it closed in on a record. In New Zealand, bond yields climbed to the highest since July following the central bank’s quantitative easing operation.Here are some key events coming up:Minutes of the most recent Federal Open Market Committee meeting are due Wednesday.U.S. jobless claims, GDP and personal spending data come Wednesday.U.K. Chancellor of the Exchequer will lay out spending plan on Wednesday.Thursday sees a policy decision and briefing from the Bank of Korea.U.S. celebrates the Thanksgiving holiday on Thursday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.These are the main moves in markets:StocksS&P 500 Index futures added 0.2% as of 9:02 a.m. in Tokyo. The gauge rose 1.6% on Tuesday.Japan’s Topix index advanced 1.2%.South Korea’s Kospi index gained 0.9%.Australia’s S&P/ASX 200 Index advanced 0.8%.CurrenciesThe Bloomberg Dollar Spot Index was flat after falling 0.4%.The euro bought $1.1897.The yen was at 104.48 per dollar.The offshore yuan traded at 6.5713 per dollar.BondsThe yield on 10-year Treasuries remained at 0.88%.Australia’s 10-year yield climbed four basis points to 0.94%.CommoditiesWest Texas Intermediate crude dipped 0.3% to $44.79 a barrel.Gold was at $1,810.36 an ounce, up 0.2%.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.