Erie County Executive Mark Poloncarz explains why the county will be requiring vaccines for both Buffalo Bills and Sabres fans this fall and how it could lead to full capacity venues.
Erie County Executive Mark Poloncarz explains why the county will be requiring vaccines for both Buffalo Bills and Sabres fans this fall and how it could lead to full capacity venues.
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Array Technologies, Inc. (NASDAQ: ARRY) securities between October 14, 2020 and May 11, 2021, both dates inclusive (the "Class Period"); and/or Array common stock pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted October 2020 (the "IPO" or "Offering"), the Company’s secondary public offering conducted December 2020 (the "December SPO"), or the Company’s secondary public offering conducted March 2021 (the "March SPO"). Investors have until July 13, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
(Bloomberg) -- Less than six months into the year, South Korean retail traders have already bought more local stocks than they did in all of 2020, as a pandemic boom in individual investing shows no signs of abating.Retail investors’ accumulated net purchases of shares in the benchmark Kospi for 2021 reached 51.7 trillion won ($45.6 billion) as of Monday, according to Korea Exchange data. That’s more than last year’s annual record total of 47.5 trillion won.The strong support from the nation’s mom-and-pop traders has helped push the Kospi up more than 9% for the year, making it one of the best performers in the Asia Pacific.The retail traders, referred to locally as “ants,” have helped offset an exodus of domestic institutional investors and the region’s worst foreigner selloff -- overseas investors have dumped nearly $16 billion of Korean stocks this year. They’ve also minimized the negative impact from the return of short-selling, with the Kospi having only slipped 0.4% since a 13-month ban was partially lifted at the start of this month.“They are taking the shares that foreigners dump in stride,” said Kiwoom Securities Co. analyst Han Jiyoung, who expects retail investors to remain net buyers. “Two or three years ago, this amount of foreign selling would have caused the markets to drop more.”Fueled by easy money and pandemic free time, mom-and-pop traders drove the Kospi up more that 30% last year, making it the world’s second-best performer behind Nigeria’s benchmark. Amid their continued hunt for higher returns at a time of low interest rates, individuals now account for about three-quarters of daily stock trading in South Korea.The surge in individual stock investment has also pushed their margin debt levels to an all-time high. Margin financing by retail investors set a record of 23.5 trillion won on April 29 and remains near that level, according to Korea Financial Investment Association data.“Margin trading makes investors vulnerable to short-term market corrections,” said Seo Sang-Young, a market strategist at Mirae Asset Securities Co. “When markets crash, those who bought stocks on debt will be hit harder.”While their penchant for risky trades including volatile microcaps and preferred stock drew regulator warnings last year, the most popular shares among retail traders so far this year have been blue chips including Samsung Electronics Co., SK Hynix Inc. and Hyundai Mobis Co., according to exchange data.“With few other options for investment because of low interest rates, Koreans see stock investment as a way to build wealth,” said Kiwoom’s Han. “They learned last year that stock investment will eventually pay off.”(Updates with margin debt levels in paragraphs 7-8, adds chart)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
"I cracked a rib from a spill on a bike and a few other bumps and bruises," Nick Jonas revealed Monday night on The Voice
Amazon is in discussions to acquire the nearly century-old MGM movie studio in what would be its biggest push into entertainment yet, according to reports. MGM, the Hollywood company behind the James Bond series, would help bolster Amazon’s Prime streaming service. Amazon is weeks into negotiations to buy the studio for about $9bn (£6.4bn), according to Variety. MGM and Amazon declined to comment. MGM has been seen as a takeover target for years, but was never able to close a sale. The company made a fresh push last year, when it reportedly hired advisers to solicit offers. In seeking a deal, MGM aims to capitalise on the proliferation of streaming services, which has increased demand for large backlogs of content, and has also discussed other scenarios with tech giants. MGM, whose library includes the Rocky films and Silence of the Lambs, also held talks with Apple and Netflix about taking its new James Bond film directly to streaming. But the company said last year that it’s committed to a theatrical release for the film, which is currently slated for October 8 in the US. Amazon, meanwhile, is reshuffling its entertainment operations with the return of long-time executive Jeff Blackburn. He briefly left the e-commerce company to join Silicon Valley venture capital firm Bessemer Venture Partners. But now he is taking command of Amazon’s entire entertainment division, including the Prime Video streaming service, Amazon Studios and the video-game-streaming site Twitch. MGM traces its roots back to the 1920s merger of Marcus Loew’s Metro films with a film company run by Hollywood legend Louis Mayer. While making great pictures like Dr. Zhivago and 2001: A Space Odyssey, MGM drifted in and out of financial distress in the second half of the 20th century. Over the decades it was owned by Time, CNN founder Ted Turner and more than once by the late billionaire Kirk Kerkorian. Amazon has been rumoured to buy entertainment companies before. It was previously seen as a possible buyer of AMC Entertainment Holdings, the movie theatre chain, with some investors confusing it with AMC Networks, the owner of cable channels. Investors suffered a similar sort of confusion on Monday, with the Information report boosting shares of MGM Resorts International, a casino company that isn’t part of MGM. MGM Resorts stock jumped as much as 5.8pc in late trading before quickly retreating.
Patrick Montgomery was on conditional pretrial release in Colorado when he violated the terms by possessing a firearm.
(Bloomberg) -- Asian stocks and U.S. futures rose Tuesday as investors weighed the pace of growth as nations vaccinate and economies reopen against a pick-up in virus cases in the region. The dollar dipped.Taiwan outperformed, jumping as much as 4%, after its biggest rout in more than a year. Japan and South Korea paced gains in a gauge of the region’s stocks. Nasdaq 100 futures outperformed. Earlier, technology and communication services stocks led the benchmark S&P 500 lower, while energy shares rose. Apple Inc. and Microsoft Corp. weighed on the tech-heavy Nasdaq 100. The dollar edged lower, while Treasuries were stable after retreating.Oil was steady near a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.Investors this week will parse the minutes from the Federal Open Market Committee’s latest meeting for any discussion about accelerating price pressures, and hints of a timeline for reducing asset purchases.Federal Reserve Vice Chair Richard Clarida said during a webinar that the weaker-than-expected April payroll report shows “we have not made substantial further progress” on the central bank’s goals for employment and inflation laid out as thresholds to begin scaling back the central bank’s massive monthly bond purchases.“Hotter inflation has materialized and market volatility is rising as the economic restart gathers pace,” according to BlackRock Investment Institute strategists lead by Jean Boivin. “This is playing out in line with our view that the economy is in a ‘restart.’ We prefer to look through any volatility and see a later ‘lift-off’ from zero rates than markets expect. This means higher-than-expected inflation in the medium term, and underpins our pro-risk stance.”Meanwhile, Hong Kong added Singapore to its list of high-risk nations as cases rose in the city-state, with the highly transmissible strain of Covid-19 that surfaced in India becoming more prominent among the growing number of unlinked cases. The U.S. has recorded its lowest number of new coronavirus infections since the early days of the pandemic.Elsewhere, Bitcoin fluctuated following a volatile weekend that saw comments from Tesla Inc.’s Elon Musk whipsaw prices. Coinbase Global Inc. fell to a record low and below the reference price used in its April direct listing. Gold traded near its highest in almost four months.Here are some key events this week:Reserve Bank of Australia publishes minutes of its latest meeting TuesdayThe Fed publishes minutes from its April meeting Wednesday, which may provide clues to officials’ views on the recovery and how they define “transitory” when it comes to inflationThese are some of the main moves in markets:StocksS&P 500 futures rose 0.3% as of 10:24 a.m. in Tokyo. The S&P 500 fell 0.3%Nasdaq 100 futures gained 0.4%. The Nasdaq 100 fell 0.6%Topix index rose 1.5%Australia’s S&P/ASX 200 Index rose 0.6%Kospi index climbed 1.1%Hang Seng Index rose 1%Shanghai Composite Index was little changedCurrenciesThe yen traded at 109.16 per dollarThe offshore yuan was at 6.4365 per dollarThe Bloomberg Dollar Spot Index dipped 0.1%The euro was at $1.2163BondsThe yield on 10-year Treasuries was at 1.65%Australia’s 10-year bond yield rose five basis points to 1.80%CommoditiesWest Texas Intermediate crude rose 0.4% to $66.52 a barrelGold rose 0.2% to $1,871.12More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Eyewitness footage captured the dramatic moment two smokestacks collapsed in a cloud of dust during the demolition of an old power plant in New Haven, West Virginia.The Philip Sporn Power Plant was operational from 1949 until 2015 and is expected to be entirely demolished by mid 2022, according to an article published by the station’s operator.In June last year, one of the company’s workers was killed and another was injured while working on the demolition site, local media reported. Credit: Robert Titus via Storyful
(Bloomberg) -- The Reserve Bank of Australia said it would pay “close attention” to economic data and conditions in financial markets when deciding whether to roll over its yield-target maturity and undertake further quantitative easing.The RBA is due to make a call at its July 6 meeting on whether to move the three-year yield target to the November 2024 bond from the current April 2024 security. The outcome could provide an insight into when the first interest-rate rise will occur. The central bank will also announce any plans for more longer-dated bond buying, with the current A$100 billion ($80 billion) tranche expiring in September.“The board remained willing to undertake further bond purchases if doing so would assist with progress towards the bank’s goals of full employment and inflation,” it said in the May meeting minutes released Tuesday. “Future policy decisions would be based on close attention to the flow of economic data and conditions in financial markets in Australia.”The RBA is aiming to push unemployment down toward 4% as it tries to spark wages growth and return inflation to the 2-3% target. Australia’s economy has recovered much faster than expected and the jobless rate is currently at 5.6%, having fallen almost 2 percentage points from mid-last year.The bank is uncertain how prices will respond during the recovery, given they had been muted for a prolonged period, while at the same time the world economy is rapidly rebounding.“The increase in commodity and other input prices was expected to contribute to higher inflation globally in subsequent months, and members noted that inflation expectations in advanced economies had also increased to be closer to central banks’ targets,” the RBA said.The bank has sought to give itself more policy flexibility by focusing on stronger wages to fuel consumer-price growth. It cited a focus on cost control by business and public sector policies on pay gains as potential headwinds.The Australian dollar remained near its high for the day after the minutes were released, up 0.3% at 77.88 U.S. cents. Yields on 10-year bonds eased slightly, to be up 4 basis points at 1.79%. Yields on the April and November 2024 bonds were at 0.1% and 0.31%, respectively. The RBA in its minutes reiterated that wages growth would need to be “sustainably above 3%, which was well above its current level.”The RBA’s key rate is currently at 0.10%, the same level as its three-year yield target, which acts as a form of forward guidance. The bank reiterated in the minutes that it’s “unlikely” the conditions for higher borrowing costs will be achieved until 2024 at the earliest. The board also agreed that the July meeting wouldn’t need to consider a change to the 10 basis-point target.At the same time, the central bank noted that yields on other three-year instruments “had increased since the start of 2021 and were consistent with market participants expecting the cash rate to begin increasing from its current level during 2023.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Japan's economy contracted 1.3 percent in the three months to March after the government reimposed virus restrictions in major cities as infections surged, data showed Tuesday.
It is anticipated that the SNP leader will retain her role following this month’s Scottish Parliament election.
(Bloomberg) -- Brent oil edged toward $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., even as the coronavirus makes a comeback in parts of Asia.Futures in London climbed for a third session, while New York crude increased from the highest close in two years. The largest number of passengers passed through U.S. airports since the pandemic began, a sign of the domestic travel revival that’s boosting fuel consumption. The rebound in America along with China and Europe is offsetting concerns around weaker consumption in India.Oil is up almost 35% this year amid optimism fuel demand will increase as the vaccination drive accelerates across major economies and boosts mobility. The devastating resurgence in India and new outbreaks in regions that had largely contained the virus such as Taiwan, however, are a reminder that the recovery is going to be uneven and bumpy.The prompt timespread for Brent was 30 cents a barrel in backwardation -- a bullish structure were near-dated contracts are more expensive than later-dated ones. That compares with 18 cents a week earlier.Passengers checking in through security at U.S. airports surged to 1.85 million on Sunday, the highest since early March 2020, according to Transportation Security Administration data. The flurry of travelers making their way through terminals has steadily climbed for the past month and is now only about 30% lower than levels the TSA saw at the same time in 2019.A weaker U.S. dollar is also boosting the appeal of commodities such as oil priced in the currency. The Bloomberg dollar spot index was lower for a fourth session.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Discovery’s tie-up with WarnerMedia has stirred up a firestorm of chatter about the impact of the deal that took nearly everyone in Burbank and Hudson Yards by surprise over the weekend. After a day of digesting the news and reading tea leaves, industry insiders were focused on the timing of WarnerMedia CEO Jason Kilar’s departure […]
Kevin Pillar walked off the field on his own after a scary moment in Atlanta on Monday night.
(Bloomberg) -- China Mobile Ltd., the country’s largest wireless carrier, has announced a plan to list in Shanghai after being removed from the New York Stock Exchange due to an investment ban ordered by former U.S. President Donald Trump.The proposal approved by the state-owned firm’s board would see it issue as many as 965 million shares, it said in a Hong Kong exchange filing late Monday. The company will seek sign-off from shareholders, and will submit applications to the China Securities Regulatory Commission and the Shanghai Stock Exchange.The proceeds will be used for the development of 5G mobile networks and new infrastructure for cloud resources as well as research and development for next-generation information technology, the statement showed.China Mobile shares in Hong Kong rose as much as 4.8% on Tuesday, their biggest intraday move since March 1.Bloomberg News reported on the company’s listing plan earlier this month, citing people familiar with the matter.The NYSE suspended trading in China Mobile shares in January, along with the country’s two other major state-owned operators, China Telecom Corp. and China Unicom Hong Kong Ltd. China Telecom is also seeking a share sale in Shanghai, while China Unicom already trades in the city as China United Network Communications Ltd. All three have listings in Hong Kong.The New York de-listings followed an order barring U.S. investments in Chinese companies that the Trump administration deemed a threat to national security. With no sign of a change in course under President Joe Biden, the telecom giants are looking back home for capital to fund their spending on 5G networks. They spent $27 billion last year in China in the world’s largest 5G expansion.Earlier this month, the three carriers said they expected the NYSE to proceed with the firms’ delisting after attempts to have the decision overturned failed.Chinese authorities have said the three firms’ removal from U.S. markets would have a limited impact on the carriers. The affected shares are worth less than 20 billion yuan ($3.1 billion) and account for 2.2% of the total issued by each company, the CSRC said in January.Still, the three companies combined lost more than $30 billion in market value in the final weeks of 2020 as investors withdrew following Trump’s order in November.China Mobile and China Telecom shares have both performed well in Hong Kong in 2021, climbing 10% and 19%, respectively as of Monday. China Unicom shares have declined 0.2% since the start of the year.In March, China Mobile said its net income rose 1.1% to 107.8 billion yuan last year, bouncing back from a 9.5% drop in 2019. The improvement came as the company accelerated implementation of 5G networks. It also announced a full-year dividend of HK$3.29 ($0.42) a share.(Updates with Hong Kong share price in fourth paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Fox is sending Tim Allen and the rest of the Last Man Standing family off with praise just days before its series finale. “The show took a bold, yet relatable, point-of-view with great humor and sensibility that directly spoke to families. Tim, the producers and cast have been great partners, and I believe this series […]
A UN General Assembly meeting set for Tuesday to discuss a non-binding resolution on halting arms transfers to Myanmar was postponed indefinitely because there was not enough support to pass the text, diplomatic sources said Monday. The authors "did not have the support they expected" in order to pass the motion with a large majority of the Assembly's 193 member countries, one diplomat said on condition of anonymity. And they "wanted more time for negotiations," especially with the Association of Southeast Asian Nations, another source told AFP. The text was drafted at the request of Liechtenstein, with the support of 48 countries, including Britain, the European Union and the United States -- but with South Korea as the only Asian country signed on. South Korea's support came after several weeks of negotiations in an effort to gain the backing of at least one ASEAN country. The resolution, which would have been non-binding but politically powerful, called for the "immediate suspension of the direct and indirect supply, sale, or transfer of all weapons, munitions, and other military-related equipment to Myanmar."It asked for military authorities in Myanmar -- which took control of government operations in a coup February 1 -- to "end the state of emergency" and to "immediately stop all violence against peaceful demonstrators."It also demanded that the military "immediately and unconditionally" release President Win Myint, State Counsellor Aung San Suu Kyi and other politicians under arbitrary detention.The resolution also called on Myanmar to "swiftly implement" a consensus plan to restore democracy that was reached at an April ASEAN meeting and to allow a visit from UN representatives, which has so far been blocked. Finally, the draft resolution called for "safe and unimpeded humanitarian access."The coup ended a 10-year foray into democracy, setting off a near-daily series of demonstrations that have been met with sometimes violent repression. (AFP)
Australian Prime Minister Scott Morrison on Tuesday said it was still not safe to allow residents fully-vaccinated for COVID-19 to travel overseas, as industries hit hard by the pandemic press for a faster reopening of international borders. Morrison said any plans to relax border rules for vaccinated travellers could be implemented "only when it is safe to do so". Australia plans to reopen borders to the rest of the world from the middle of 2022 even as the federal budget unveiled last week hopes to fully vaccinate its near 26 million population by the end of this year.
The company announced Monday that it is floating $2 billion in aggregate principal amount of senior notes. It said that the interest rate, maturity date, terms of redemption, and other key features of the debt securities would be determined by negotiations between it and potential buyers. According to a report in Bloomberg, citing "people with knowledge of the matter," the two phases would consist of one issue of notes with five-year maturities, and one with a 10-year term.
Image Source: Getty If a modern-day Shakespeare existed, the soliloquy might read a little more like: "to be injected, or not to be be injected - that is the question." This rings especially true now.
Household solar uptake meant demand on Australia’s grid in summer peak fell to five-year lowAudit underlines role renewables are playing in making coal-fired power unprofitable, expert says Demand for electricity from the grid during Australia’s summer fell as more power came from rooftop solar, an analysis has found. Photograph: David Mariuz/AAP