Democrats smear possible SCOTUS nominee; Dinesh D'Souza weighs in on 'The Ingraham Angle.'
Democrats smear possible SCOTUS nominee; Dinesh D'Souza weighs in on 'The Ingraham Angle.'
InMoment, the leading provider of Experience Improvement (XI)™, announced today that its XI™ technology platform has been named a 2020 Customer Experience Innovation winner.
The family owners of Italian fashion house Salvatore Ferragamo <SFER.MI> have held informal discussions with financial investors to sell a minority stake within their holding firm, as they seek to turn around the luxury brand and cope with the fallout of COVID-19, five sources told Reuters. The company's chairman Ferruccio Ferragamo, son of founder Salvatore who is now leading the shoe dynasty, held the discussions sometime after the summer, offering a stake of about 20% in the holding vehicle that controls the Milan-listed business, banking and private equity sources said, speaking on condition of anonymity as the matter is confidential. The sources told Reuters that the family is still in the preliminary stages of testing market appetite and that a deal might face resistance from investors since the family is not willing to give away any governance control.
The actress also wishes she was "more careful with the sun" after facing skin cancer
Purdue Pharma, the company that makes OxyContin, the powerful prescription painkiller that experts say helped touch off an opioid epidemic, will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion, Justice Department officials told The Associated Press. The company will plead guilty to a criminal information being filed Wednesday in federal court in New Jersey to three counts, including conspiracy to defraud the United States and violating federal anti-kickback laws, the officials said. The deal does not release any of the company’s executives or owners — members of the wealthy Sackler family — from criminal liability.
(Bloomberg) -- A machine-guided fund which has almost doubled the performance of the S&P 500 Index this year is casting serious doubt over a sustained rebound in cyclical stocks.The AI Powered Equity ETF (AIEQ), an exchange-traded fund driven by artificial intelligence, has risen about 13% year-to-date versus a 7% gain in the S&P 500.The fund’s “manager,” a model which runs 24/7 on IBM Corp.’s Watson platform, is heavily overweight health care and consumer discretionary shares, according to data compiled by Bloomberg. It has a modest overweight in technology and is underweight financials and industrials.“However the algorithm is picking stocks it is delivering decent returns, albeit with some air pockets along the way,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note Tuesday. “It isn’t buying the reopening/cyclical trade as we start the final quarter of 2020,” but at the same time, “it is not running to hide in Big Tech.”Quant ModelThe quantitative model behind the $96 million fund, developed by EquBot, assesses more than 6,000 U.S. publicly-traded companies each day. It scrapes millions of regulatory filings, news stories, management profiles, sentiment gauges, financial models, valuations and bits of market data, and then chooses about 30 to 70 stocks for the fund, which is run by ETF Managers Group LLC.Launched in October 2017, the AI Powered fund has gained about 27% since inception, compared with a 35% rise for the S&P 500.“We read its message as ‘tech will work, just not the go-to names from earlier this year, and be very careful with cyclicals,” said Colas. “We’re more optimistic than that, but looking at the AIEQ portfolio is a good reality check nonetheless.”(Updates performance details, adds extra context.)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.
The Global Satellite-based Earth Observation Market will grow by USD 4.51 bn during 2020-2024
He says United are in regular dialogue with ECA and UEFA over potential changes to the Champions League from 2024.
(Bloomberg) -- General Motors Co. is moving ahead in its talks with startup Nikola Corp. over a proposed partnership to make electric and fuel-cell-powered trucks, a senior executive at the Detroit automaker said.GM and Nikola announced a tentative agreement last month but have yet to come to final terms. Nikola’s stock price has plunged in the wake of allegations of deception by a short seller, raising questions from investors about GM’s due diligence and commitment to a deal.“Right now we are going forward,” Mark Reuss, GM’s president, said in a Bloomberg TV interview taped Oct. 16. In what he called “the exciting piece” of those discussions, Reuss said GM plans to share hydrogen-fuel-cell technology developed with Honda Motor Co. with Nikola for use in both a pickup and big-rig trucks.“They are taking what I believe is the best fuel cell in the world -- with our fuel cell that is made in our joint venture with Honda right here in Michigan -- and taking that fuel cell and looking at deploying it in the heavy-duty transport market with the large trucks -- the Class 7 and 8s -- and also in the light-duty Badger truck,” he said.Nikola shares pared a gain of as much as 8.4% to trade up 3% to $21.35 as of 9:46 a.m. in New York.The proposed deal would give GM an 11% stake in Nikola and allow the startup to use its hydrogen-fuel-cell technology. GM also said it plans to manufacture the Badger pickup truck for Nikola, which initially would be battery-electric and eventually fuel-cell powered.Reuss said the Badger will have a different powertrain from the one GM will use in its new Hummer pickup, which will run on the Ultium battery-pack system the Detroit automaker co-developed with LG Chem Ltd.“We won’t sell and market that truck. That is what Nikola is doing,” Reuss said. “It’s still a fuel-cell electric truck but quite different from what we are offering on our Ultium packs on the pure electric Hummer.”(Updates share price in fifth 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.
Featuring a lot of people shouting 'Mank!' at Gary Oldman
Boston’s Batterymarch Group and Andrew Haigney now offering fiduciary level real estate brokerage and advisory services.
(Bloomberg) -- The series of mergers reshaping the beleaguered U.S. shale oil industry accelerated Tuesday when Pioneer Natural Resources Co. agreed to buy Parsley Energy Inc. for $4.5 billion in stock, creating one of the largest producers in the Permian Basin.The deal came a day after ConocoPhillips announced its $9.7 billion takeover of Concho Resources Inc. and underscores the view that oil companies must be big to survive in a new, pandemic-maligned world that’s oversupplied with crude. Earlier this month Chevron Corp. completed its takeover of Noble Energy Inc., while Devon Energy agreed to merge with shale driller WPX in late September.The sector is in full-on merger mode in response to oil prices that have been stuck at around $40 a barrel in recent months after the Covid-19 pandemic hit global demand. While that’s put pressure on energy companies around the world, the pain is most severe in U.S. shale. The industry is weighed down by massive debts, the result of years of break-neck expansion that made America the largest crude producer but also disappointed investors with poor returns.Energy has slumped to less than 2% of the S&P 500 Index, down from more than 11% a decade ago, even as the wider market rose to record levels.“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer Chief Executive Officer Scott Sheffield said on a conference call with analysts. The “real survivors” will be Pioneer-Parsley, EOG Resources Inc., ConocoPhillips, and “maybe” Hess Corp. over the long-term, he said. “The best companies have been picked off the past few weeks.”Of those companies left, there’s speculation that billionaire Harold Hamm’s Continental Resources Inc. may come to some agreement with Marathon Oil Corp., Paul Sankey, a New York-based analyst at Sankey Research said in a note. Other mid-size players that haven’t made deals this year include Diamondback Energy Inc., Cimarex Energy Co. and Ovintiv Inc.Pioneer’s purchase of Parsley will save about $325 million a year in debt repayments and cost reductions while also adding to free cash flow, the company said. But size is also key to the transaction’s success, according to Sheffield. “You’ve got to be over $10 billion market cap.”Size matters in U.S. shale because of economies of scale, lower overheads, increased bargaining power with suppliers but also, crucially, greater access to debt markets. Many companies are having to contend with falling production for the first time because they lack the financial resources to drill the new wells needed to offset rapid declines from older ones. About 35% of Pioneer’s production drops off each year without fresh drilling, while at Concho, the rate is closer to 40%.A Pioneer-Parsley combination creates one of the largest players in the prolific Permian Basin of West Texas and New Mexico, which produces more oil output than every OPEC member except Saudi Arabia. The newly enlarged Pioneer’s production in the shale formation would grow by more than 40% to the equivalent of roughly 558,000 barrels of oil a day, according to regulatory filings and data from energy analysis firm Enverus compiled by Bloomberg, rivaling only Occidental Petroleum Corp. and Chevron Corp.Shares of Parsley fell 3.4% to $10.26 at 9:45 a.m. in New York, while Pioneer was down 1.2% to $82.56.Initial reports of the deal talks between Pioneer and Parsley raised eyebrows among some onlookers because Pioneer CEO Sheffield is the father of Parsley chairman Bryan Sheffield. More of the family’s wealth is tied up with Parsley than Pioneer, according to data compiled by Bloomberg. The two were not involved in the negotiations, Pioneer executive Rich Dealy said on the call.The deal already appears to have strong support from two of Parsley’s top shareholders. Bryan Sheffield’s stake in Parsley is amplified by his holdings of Class B shares, which give him overall voting power of 7.8%. Quantum Energy Partners holds a further 17% of the stock and said it supports the deal.The premium may be a slight disappointment to some Parsley investors, analysts at Tudor, Pickering, Holt wrote in a note to investors.“At first blush, we think PXD is getting a solid deal as added leverage more than offset by Parsley’s higher free cash flow given low premium paid,” they said. “The combined organization will be in a stronger position to garner capital relative to peers given the strength of the balance sheet and quality of long-term inventory.”(Updates share prices in 10th 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.
Arsenal, Tottenham, Leicester, Celtic and Rangers are in action.
She will host BBC One show This Is MY House.
State of Global Air report finds South Asia and sub-Saharan Africa contribute vast majority of infant deaths due to air pollution, with 20% coming from India alone
(Bloomberg) -- Treasuries slid alongside the dollar amid speculation that Washington lawmakers will make progress on talks for stimulus legislation to be financed by trillion-dollar borrowing. U.S. stocks were pushed higher.The U.S. 10-year yield broke above 0.8% to the highest since June and European yields also rose after Democratic House Speaker Nancy Pelosi expressed hope for political compromise on a bill this week.The S&P 500 rose for a second day, with social media firms leading after Snap Inc. reported strong earnings. Netflix Inc. tumbled after missing subscriber estimates. Tesla Inc. rose ahead of financial results later Wednesday, and social-media company Snap Inc. soared after an earnings beat.European stocks slumped for a third day, with gold miners Fresnillo Plc and Centamin Plc falling after cutting production guidance. Telecom equipment maker Ericsson was a bright spot, climbing after a profit beat.Pelosi said Tuesday she also hoped that fresh stimulus spending would be retroactive, although the Republican Senate majority leader has warned the White House against a bigger Democrat-led deal before the election. The administration said it hopes to get a deal in the next 48 hours and that its offer is now up to $1.88 trillion, below the $2.2 trillion Pelosi has pushed for.“The rise in yields suggests that the market thinks a stimulus deal will be forthcoming and that the Democrats are set to take both the presidency and the Senate at the Nov. 3 election,” said John Hardy, chief foreign-exchange strategist at Saxo Bank.Elsewhere, the yen headed for its best day versus the dollar since August. The pound jumped after European Union chief Brexit negotiator Michel Barnier said a deal is within reach. Copper traded near a two-year high on supply disruptions in Chile.Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles.Here are some key events this week:Brexit trade talks are likely to continue at least into next week if the U.K. and EU fail to reach an agreement.The final presidential debate before the U.S. election, between President Donald Trump and former Vice President Joe Biden, will be live from Nashville, Tennessee on Thursday.U.S. jobless claims come Thursday.Here are some of the main market moves:StocksThe S&P 500 Index rose 0.4% as of 9:44 a.m. New York time.The Stoxx Europe 600 Index decreased 0.9%.The MSCI Asia Pacific Index rose 0.7%.The MSCI Emerging Market Index gained 0.3%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.4% to 1,159.24.The euro increased 0.3% to $1.186.The British pound surged 1% to $1.3078.The Japanese yen strengthened 0.7% to 104.75 per dollar.BondsThe yield on 10-year Treasuries jumped three basis points to 0.82%.The yield on two-year Treasuries climbed one basis point to 0.15%.Germany’s 10-year yield gained one basis point to -0.59%.Britain’s 10-year yield climbed four basis points to 0.231%.CommoditiesWest Texas Intermediate crude dipped 1.4% to $41.11 a barrel.Gold strengthened 0.8% to $1,921.76 an ounce.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.
Capital markets are powerfully rewarding companies with strong purpose, an outcome that has strengthened since the onset of Covid-19. The CEO Investor Forum, a global organization preparing corporate leaders to navigate the quickly changing financial landscape and the purpose-driven economy, released The Return on Purpose: Before and During a Crisis in partnership with Fortuna Advisors, a management consulting firm focused on helping clients achieve their value creation ambitions by redefining how they create value today and improving confidence to invest behind that.
Fortune 1000 Global Information and Insights Company Selects Pavilion for SQL Server Analytics on Microsoft Windows
PCBB Joins SWIFT global payments innovation (gpi) network to deliver faster cross-border payments to its international banking customers.
The all-electric Hummer pickup truck and the forthcoming SUV variant will each have four transparent removable panels.
The Government said the review will focus on prioritising its economic response to the coronavirus crisis.