All the US equity sectors have bounced off the March 23 broad market low, with consumer discretionary shares leading the way, based on a set of exchange-traded funds through Monday’s close (October 12). Technology is a close second. On both fronts, the rallies have carried prices well above the broad […]
Business
Could you buy stock in the Red Sox? Explaining Fenway Sports Group’s potential deal to go public
The talks may not end with a handshake. But the estimated $1.5 billion FSG would get from RedBall and other investors would give Henry (who also owns the Globe) the financial flexibility to expand the company, which includes its English gem, Premier League champion Liverpool Football Club. There’s even a […]
Amazon to escape UK digital services tax that will hit smaller traders
Amazon will not have to pay the UK’s new digital services tax on products it sells directly to consumers but small traders who sell products on its site will face increased charges. © Provided by The Guardian Photograph: Pascal Rossignol/Reuters The government’s new digital services tax, which aims to get tech […]
Security firm G4S posts higher profit on cost-cutting drive
(Reuters) – G4S Plc <GFS.L> on Wednesday said profit for the nine months ended September was ahead of last year, helped by a tight check on costs even as the British security firm’s revenue slipped 2% during the period. The London-listed company, which has been fending off a hostile takeover […]
Will Baker’s rental relief plan be enough to fend off a feared wave of evictions?
“The pandemic has created financial challenges for many individuals and families who are struggling with rent payments,” Baker said in a statement. “This strategy has been designed to be user friendly and easily accessible for tenants and landlords in need.” The move comes as Massachusetts’ strictest-in-the-nation ban on evictions is […]
Exclusive: U.S. Apparel Watchdog Probes Jockey’s Indian Partner After Human Rights Abuse Allegations | Top News
By Sachin Ravikumar and Chandini Monnappa BENGALURU (Reuters) – A top apparel industry watchdog has launched an investigation into underwear maker Jockey International’s Indian partner Page Industries Ltd following allegations of human rights abuses at one of its factories, the watchdog told Reuters. The investigation by U.S.-based Worldwide Responsible Accredited […]
China coal supplies to tighten this winter on import curbs, strong demand
By Muyu Xu and Gavin Maguire © Reuters/David Gray FILE PHOTO: Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee BEIJING/SINGAPORE (Reuters) – China’s coking and thermal coal markets are set to tighten over the remainder of 2020 […]
S&P 500 Falls as Cruise Stocks Sink, Delta Reports Jumbo Loss, JPMorgan Warns About Loan Losses
The S&P 500 Index (SNPINDEX:^GSPC) fell 22 points, or 0.63%, on Tuesday. Earnings season got underway, with banking and airline giants JPMorgan Chase (NYSE:JPM) and Delta Air Lines (NYSE:DAL) reporting today. Delta had a massive $7 billion loss, while JPMorgan reported a $9.4 billion profit, but both stocks fell as worries about continued economic weakness […]
AIM warns tax hikes could push biz out of state; Indie bookstores launch anti-Amazon campaign
One of the state’s largest and most influential business groups urged Beacon Hill lawmakers on Tuesday to take tax increases off the table as they consider how to put together a state budget that accounts for major declines in revenue, but doesn’t dismantle critical state services. Associated Industries of Massachusetts, […]
McDonald’s faces charges of discrimination by more Black workers
CLOSE McDonald’s CEO Steve Easterbrook was fired for having a “consensual” relationship with an employee, violating company policy. USA TODAY For the fourth time in less than a year, former and current McDonald’s employees have filed a complaint accusing the fast food giant of racial discrimination. The civil rights suit, filed […]
Bank of Korea Set to Extend Hold as Virus Eases: Decision Guide
(Bloomberg) — The Bank of Korea is likely to keep its benchmark interest rate on hold on Wednesday, amid signs of economic improvement and a tapering of local coronavirus cases. All 21 analysts surveyed by Bloomberg expect the central bank to maintain its seven-day repurchase rate at 0.5% for the […]
Jerome Dodson’s Parnassus Fund Buys 1 Stock, Sells 3 Others in 3rd Quarter
– By James Li Jerome Dodson (Trades, Portfolio), founder and president of Parnassus Investments, disclosed this week that the Parnassus Fund established a position in Hilton Worldwide Holdings Inc. (NYSE:HLT) during the third quarter. Despite this, the fund’s top three trades featured sells in Trimble Inc. (NASDAQ:TRMB), Dentsply Sirona Inc. […]
As Prime Day kicks off and holiday deals start early, is Black Friday dead?
With the holiday shopping season creeping into October, retailers are bracing for a historically long shopping season that is expected to take place mainly online. The coronavirus pandemic has pummeled the retail industry over the last six months, causing store closures or bankruptcy filings, while retailers who have made it […]
North Texas home starts boom as builders struggle to meet buyer demand
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North Texas builders scrambling to meet a flood of buyers have boosted home starts to the highest level in more than a decade. Dallas-Fort Worth single-family home starts soared by more than 34% in the third quarter from a year earlier, rising in the face of the pandemic and recession. […]
ESG Investing: 4 Funds for Climate Change and Gender Equality
Amid this raging global pandemic, you may be rethinking your priorities with respect to how you invest your money. At least that’s the conclusion of a recent report from JPMorgan. The paper explores COVID-19 as a sustainability crisis, arguing that the pandemic has sparked increased interest in investing for good, […]
Inception REIT Enters Into Merger Agreement with Subversive Real Estate Acquisition REIT LP
Inception REIT (“I-REIT”) announced it has entered into a merger agreement with Subversive Real Estate Acquisition REIT LP (NEO: SVX.U) (NEO: SVX.RT.U) (OTCBB: SBVRF) (“Subversive REIT”). The transaction includes two properties, one retail and one industrial, and one retail mortgage across Southern California in downtown Los Angeles, Desert Hot Springs […]
Delta posts staggering Q3 loss as coronavirus hits demand, layoffs mount
Delta Airlines (DAL) on Tuesday reported another staggering quarterly loss, as the coronavirus pandemic continues to crush demand, prompting major airlines to dismiss thousands of workers. During the third quarter, the air carrier lost nearly $5.4 billion on a net basis, or $6.9 billion pre-taxes — swinging from a profit of […]
The New Rules of leadership
During this year’s Fast Company Impact Council meeting—an invitation-only collective of leaders—several executives participated in a roundtable on the “New New Rules of Leadership,” led by executive editor Benjamin Landy. These leaders shared their strategies for doing business during a pandemic, maintaining hope mixed with practicality, and discussed what attributes […]
More synchronized action needed to tackle COVID economic crisis: IMF’s Georgieva
By Andrea Shalal, Marc Jones WASHINGTON/LONDON (Reuters) – The international community must do more to tackle the economic fallout of the COVID-19 crisis, the head of the International Monetary Fund said on Monday, publicly calling on the World Bank to accelerate its lending to hard-hit African countries. FILE PHOTO: International […]
Dell’s Digital Transformation Index shows turbulence ahead
Eighty percent of companies are accelerating digital transformation efforts amid remote work and the COVID-19 pandemic, but priorities are shifting, according to Dell Technologies’ Digital Transformation Index. The survey, based on 4,300 business decisionmakers from mid- to large-enterprises, was conducted in July and August via Vanson Bourne. The Digital Transformation […]