What happened Shares of MicroStrategy (NASDAQ: MSTR) declined by 10% Thursday, as the price of Bitcoin (CRYPTO: BTC) fell. So what MicroStrategy's stock has become something of a proxy for the price of Bitcoin.
The Hernando de Soto Bridge, which connects Tennessee to Arkansas, has been closed to traffic since Tuesday.
(Bloomberg) -- Fisker Inc.’s existing agreement to develop an electric vehicle with Foxconn Technology Group will now include a factory in the U.S., the companies said in a statement Thursday.The joint project -- codenamed Project PEAR -- is targeting a start of production in the U.S. by the fourth quarter of 2023. The companies said they’re considering multiple sites around the world to support eventual global manufacturing capacity of 250,000 units a year. The partners plan to unveil a prototype of their jointly developed car later this year.Los Angeles-based Fisker’s shares rose as much as 22% to $12.13 in late trading in New York. The stock is down 32% this year through Thursday’s close. Hon Hai Precision Industry Co., the main listed arm of Foxconn, is up 12% for the year in Taipei.Electric vehicles have risen in prominence in recent months, with everyone from established automakers like Geely to smartphone purveyor Xiaomi Corp. making big investments in the category. Foxconn has an EV platform that will be used to launch two light vehicles in the fourth quarter of this year, Chairman Young Liu said in February. The company has also inked a manufacturing deal with Chinese startup Byton Ltd. and been among a coterie of suppliers and assemblers linked with a potential Apple Inc. car.Read more: IPhone Maker Foxconn to Help Launch Electric Cars This YearFisker is one of a wave of startups to go public via a special purpose acquisition company, or SPAC, and seek a fast-track challenge to Tesla Inc. in the EV market. It’s also the second battery-powered-car venture founded by its namesake founder and chief executive officer, Henrik Fisker, a longtime auto designer. Fisker’s first venture, Fisker Automotive, filed for bankruptcy in 2013.Under the agreement, Fisker and Foxconn will jointly invest in Project PEAR -- short for Personal Electric Automotive Revolution -- with each company taking proceeds if the launch is successful. Foxconn has said it will decide between Mexico and Wisconsin for the site of its first electric-car plant this year. The companies didn’t disclose any specifications of the vehicle they’re developing.The companies said the jointly developed vehicle will be priced below $30,000. Taiwan-based Foxconn, best known for assembling iPhones, is the second major manufacturer with which Fisker has announced a partnership since reaching a deal to go public last year. In October, the EV startup said Magna International Inc. would help it build its debut model. The Ocean electric SUV is scheduled to start production in late 2022 at a Magna facility in Graz, Austria.(Updates with other Foxconn EV projects in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
LOS ANGELES (AP) — “Jersey Shore” star Ronnie Ortiz-Magro will not be charged after an arrest on suspicion of domestic violence last month, authorities said Thursday. Los Angeles city attorney's spokesman Rob Wilcox said his office opted not to file charges against the 35-year-old Ortiz-Magro, but it will charge him with a probation violation from another domestic violence case. Ortiz-Magro pleaded no contest last year to domestic battery and resisting arrest.
Seimone Augustus has retired from playing and will be an assistant coach for the Los Angeles Sparks, the team announced Thursday. Augustus is a 15-year veteran who played most of her career with the Minnesota Lynx, winning four titles there. “It’s an honor to continue to serve the game that has given me so much,” Augustus said in a statement.
(Bloomberg) -- Asia stocks climbed after U.S. benchmarks halted a three-day slide, with investors migrating to value from growth companies as signs of a strengthening labor market tempered inflation worries.Indexes in South Korea, Australia and Japan also gained for the first time in four sessions. Investors will be watching China’s open after MSCI Inc.’s index covering the country’s stocks fell into bear-market territory. U.S. futures edged higher, following gains in the major benchmarks. Industrial and financial shares outperformed overnight, while energy producers joined a slump in oil.Tesla Inc. fell after Chief Executive Officer Elon Musk said the electric-car maker is suspending purchases using Bitcoin over environmental concerns. Bitcoin pared some of the losses sparked by Musk’s comments, trading around $50,000. Coinbase Global Inc. fluctuated in late U.S. trade as the biggest U.S. cryptocurrency exchange reported revenue below Wall Street estimates.Markets appear to have recovered from a bout of volatility following an unexpectedly sharp increase in the U.S. consumer price index. The latest data reinforced inflation pressures, with producer prices outpacing forecasts, but a drop in jobless claims helped sentiment. Fed Governor Christopher Waller reiterated the central bank’s view that the economic reopening is driving a temporary surge in price pressures, though they may last through 2022.“We see 10-year yields move up, we see inflation expectations move up, but as long as the underlying economic backdrop is still doing just fine it should power that value trade generally,” Lori Calvasina, RBC Capital Markets head of equity strategy, said on Bloomberg TV. “We’re going to have some interesting days but the runway is there from an economic perspective for this rotation to keep going.”Treasuries rallied from the prior session’s weakness, with the 10-year yield easing to 1.66% despite a lackluster auction of 30-year bonds. The Federal Reserve tweaked its purchasing plan to focus more on longer-dated Treasuries, while leaving the $80 billion monthly total unchanged.Meanwhile, concerns about a possible pullback in Fed support have stalled the rally in commodities. Oil slumped the most in over a month as growing inflation concerns raise the specter of a less accommodative central bank.The MLIV Question of the Day is: When Can Crypto Reach Mainstream Investing?These are some of the main moves in markets:StocksS&P 500 contracts climbed 0.1% as of 9:18 a.m. in Tokyo. The S&P 500 rose 1.2%Nasdaq 100 futures were steady. The index advanced 0.8%Japan’s Topix Index rose 1.4%Australia’s S&P/ASX 200 was up 0.8%South Korea’s Kospi gained 0.8%Hong Kong’s Hang Seng futures rose 0.7% earlierCurrenciesThe Bloomberg Dollar Spot Index edged higherThe euro was at $1.2077The British pound traded at $1.4043The Japanese yen was at 109.54 per dollarBondsThe yield on 10-year Treasuries was steady at 1.66%Australia’s 10-year yield slipped two basis points to 1.80%CommoditiesWest Texas Intermediate crude edged down to $63.78 a barrel, after falling 3.4% in U.S. hoursGold futures traded at $1,824.85 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Andrew Yang rejects ‘defund the police’ as progressive candidates want to shift more funds away from the nation’s most expensive – and largest – police department
According to Bindi Irwin, her 7-week-old daughter Grace "loves an afternoon walk through our Australia Zoo gardens, lots of cuddles and smiling big"
Former U.S. national team defender Geoff Cameron has signed a two-year contact with Cincinnati of Major League Soccer. The 35-year-old Cameron scored four goals in 55 appearances for the U.S. from 2010-17 and started three matches during the 2014 World Cup.
Image source: The Motley Fool. Fiesta Restaurant Group Inc (NASDAQ: FRGI)Q1 2021 Earnings CallMay 13, 2021, 4:30 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by.
Thank you for joining us today for Spectrum Pharmaceuticals' first quarter 2021 financial results conference call. Joining me on the call today from Spectrum Pharmaceuticals will be Joe Turgeon, President and CEO, and Dr. Francois Lebel, Chief Medical Officer.
SUZ earnings call for the period ending March 31, 2021.
At this time, we would like to welcome everyone to Natura & Co First Quarter 2021 Results. Such statements are not statements of historical fact and reflect the beliefs and expectations of Natura & Co's management. Now, I will turn the conference over to Mrs. Viviane Behar, Investor Relations Officer of Natura &Co. Ms. Behar, the floor is yours.
Before we begin, I would like to read the following regarding forward-looking statements. During the course of this conference call, the company may make projections or other forward-looking statements regarding future events or future business outlook, our development efforts and their outcome, our discovery platform, anticipated progress and timeline for our programs, financial and accounting related matters as well as statements regarding our cash position. The company undertakes no obligation to update projections or forward-looking statements in the future.
Thank you for standing by and welcome to Telefonica's January-March 2021 Results Conference Call. Good morning and welcome to Telefonica's conference call to discuss January-March 2021 results. Before proceeding, let me mention that the financial information contained in this document related to the first quarter 2021 has been prepared under International Financial Reporting Standards as adopted by the European Union.
(Bloomberg) -- Masan Group Corp., a Vietnamese conglomerate, is exploring options for its animal feed unit that could include selling a stake to a strategic partner, according to people familiar with the matter.The company is working with advisers to weigh introducing fresh investment in the business, which is currently held under its listed Masan MeatLife Corp. unit, said the people, who asked not to be named as the information is private. It is seeking to raise as much as $1 billion from a deal, they said.Masan is also mulling a possible initial public offering for the animal feed unit, one of the people said. The company’s management believes Masan MeatLife is under-appreciated by the market, the person said.Deliberations are at an early stage and may not lead to any transaction, said the people. A representative for Masan Group declined to comment.Shares in Masan MeatLife closed up 6.5% on Thursday, their highest level since the end of Jan. 2020, giving the unit a market value of $865 million.A $1 billion deal would be Vietnam’s biggest since 2017, when Vietnam F&B Alliance Investment JSC bought 54% of Saigon Beer Alcohol Beverage for $4.4 billion, according to data compiled by Bloomberg.Masan Group is controlled by Vietnamese tycoon Nguyen Dang Quang. Founded in 1996, the Ho Chi Minh City-based firm is best-known for its fish sauce which it sells under brands including Chin-Su and Nam Ngu, according to its website. It has interests in retailing and mining as well as a stake in Vietnam Technological & Commercial Joint-Stock Bank, commonly known as Techcombank.Masan MeatLife is one of the largest fully-integrated feed-farm-food business platforms in Vietnam, its website shows. In 2015 the company merged its two animal feed businesses, Anco and Proconco, and three years later began selling fresh, chilled meat under the MeatDeli brand.(Updates with Masan MeatLife share price in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Colombia has been hit by a wave of protests since late April with riot police wielding tear gas and stun grenades clashing with crowds in many of the country’s biggest cities. Four games were moved from Colombia to Paraguay and Ecuador last week due to the unrest and Wednesday night’s game between Junior and River Plate was marred when some of the players felt the effects of tear gas that wafted into the stadium from outside. In an appeal to the Colombian Football Association, the league and their own clubs, players with the Acolfutpro union said that “until the public order situation that affects the entire country and puts our wellbeing at risk is not resolved, we ask you not to schedule any more games in domestic tournaments.”
(Bloomberg) -- Oil steadied in Asia after dropping the most in more than a month on fears accelerating inflation could cause major central banks to pull back from accommodative monetary policy.West Texas Intermediate traded near $64 a barrel after slumping 3.4% on Thursday, the most since April 5, amid a broad retreat in commodities that followed a pick-up in consumer-price gains. Prices have dropped 1.7% this week, despite a broadly positive assessment from the International Energy Agency that showed the global glut that built up last year has been cleared.Oil has rallied this year as demand picks up with the roll-out of vaccines, although gains has stalled since early March. Raw materials were buffeted Thursday after the pace of price gains surged in the U.S., stoking speculation the Federal Reserve may dial back its support. Still, a parade of policy makers have insisted that there’ll be no change in the accommodative stance just yet.The recovery from the outbreak remains patchy, complicating the picture for oil demand. In the latest sign the U.S. is making progress, President Joe Biden’s administration announced that vaccinated Americans can ditch masks in most settings. In Asia, however, Japan signaled that it may extend curbs.Elsewhere, India’s largest oil refiner is shopping for crude again after a one-month hiatus, providing some optimism the South Asian country’s demand hasn’t been stalled by a virus resurgence. Indian Oil Corp. issued three tenders to buy crude for loading in the next two months. The significance of the company’s move will depend on how much it actually ends up purchasing.Brent’s prompt timespread was steady at 17 cents a barrel in backwardation. While that’s a bullish pattern -- with near-term prices above those further out -- it’s down from 49 cents two weeks ago.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
White ball batsman Glenn Phillips and allrounder Daryl Mitchell have been included for the first time on New Zealand Cricket’s list of centrally contracted players. The list is compiled by New Zealand coach Gary Stead and selector Gavin Larsen, who rank players on performances in all three formats, with tests receiving a double weighting.
"The View" co-host, Sunny Hostin, exposes a world of sand and secrets on Martha's Vineyard in her new book, "Summer on the Bluffs."