The number of U.S. cases of COVID-19 approached 3 million Wednesday, and Florida’s intensive care units are filling up, as the United States counted a record number of new cases of the deadly disease in a single day, a sign that the virus is far from being contained. DataRead More →
The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends atRead More →
The joint blockchain cloud computing venture of computing giant AMD and Ethereum-focused development firm ConsenSys has received $20.5 million in funding. According to a June 25 announcement, AMD and ConsenSys’ W3bcloud joint venture obtained the funds through the sale of convertible notes to the founding firms and several family officesRead More →
An earlier version misstated the type of SEC filing and annual report. This story has been updated. Getty Images T. Rowe Price called its WeWork investment a “debacle.” “We are ready to declare this a terrible investment.” That’s the blunt conclusion made by a T. Rowe Price Inc. portfolio managerRead More →
(Reuters) – Lab-grown meat producer Memphis Meats said on Wednesday it raised $161 million in a funding round led by Japan’s SoftBank Group (T:), Singapore’s wealth fund Temasek Holdings and Norwest Venture Partners. The company said https://www.dropbox.com/sh/a8d448rg2ia38wb/AADm73yA_KTatQr7C4RmZHTEa/Press%20releases?dl=0&preview=Series+B+press+release.pdf&subfolder_nav_tracking=1 the latest round took total funding to over $180 million and drew investmentRead More →
Just seven days after Dr. Martin Luther King, Jr. was assassinated in April 1968, President Lyndon Johnson signed Title VIII ̶— commonly referred to as the Fair Housing Act —̶ of the Civil Rights Act of 1968 into law. President Johnson considered the law as an homage to the great civil rights leader. Read More →
President Donald Trump says our economy is “the best it has ever been,” and he is planning to ride that false claim to a second term. I won’t let him get away with it. I have the track record — in business and government — to show America what realRead More →
Dieting sucks. Nobody likes counting calories and trying to lose weight. If you’ve tried it you may have found it’s slow, grinding and frustrating. Lose three pounds. Gain two. Repeat. But 32% of the population are overweight and another 40% are actually obese. And shedding the pounds is great forRead More →
By Julie Zhu and Kane Wu HONG KONG (Reuters) – China National Chemical Corp, or ChemChina, has approached Chinese state-backed investors for up to $10 billion in funding as part of a reorganisation of its agrichemicals business ahead of a public float, according to five people familiar with the situation.Read More →
Indicators don’t always a pattern make. Every few weeks, most of us who work in financial services must digest a new set of data that measure various parts of the U.S. economy. For example, new U.S. residential home sales in September were up almost 16% over the past year (whereas housing starts were upRead More →
U.S. consumers might have their pick of employment in today’s robust job market, but that doesn’t mean everyone is getting financed for a car. A Federal Reserve Bank of New York survey of consumer credit released Monday showed a spike in the rate of auto-loan rejections, to 8.1% in OctoberRead More →
© Reuters. AvidXchange targets $2 billion valuation in funding round: sources By David French (Reuters) – Business payments processing firm AvidXchange Inc, whose investors include Mastercard Inc (N:) and Peter Thiel, the co-founder of PayPal Holdings Inc (O:), has launched a new private fundraising round that could value it atRead More →
Silicon Valley private equity firm Silver Lake Partners is reportedly buying a $500 million stake in Manchester City, at a valuation that would make the English soccer team one of the world’s most expensive sports franchises. The Financial Times first reported the deal, which it said is expected to beRead More →
MELBOURNE (Reuters) – Australia’s Lynas Corporation (AX:) expects to make an announcement on how it will fund development of a new heavy rare earths processing facility in the United States by the end of February, its chief executive said on Tuesday. The United States has sought to shore up itsRead More →
© Reuters. The soy based Impossible Whopper is seen illustrated at a Burger King in New York By Joshua Franklin and Anirban Sen (Reuters) – Impossible Foods Inc, maker of the plant-based Impossible Burger, is in talks with investors about a new round of fundraising that could more than doubleRead More →
The trade war with China continues unabated, and the Federal Reserve this year cut interest rates for the first time since the depth of the financial crisis in 2008. While those events don’t portend a dramatic slowdown — indeed, the interest-rate cut is meant to extend the economic expansion —Read More →
Swifties’ latest target: a private-equity firm with a global portfolio of 272 companies. Taylor Swift unleashed her band of devoted fans Thursday on the Carlyle Group CG, +0.71% — a Washington, D.C.-based firm whose investments have included the streetwear brand Supreme, aerospace and defense companies, and Dunkin’ Brands DNKN,Read More →
In the housing sector, every day is Veterans Day. That’s because many lenders provide VA loans that are backed by the U.S. Department of Veterans Affairs. Perhaps the most attractive benefit of a VA loan is that a borrower can receive a mortgage without making a down payment towards theRead More →
Let’s go back in time to June 2008, when Apple introduced the iPhone 3G. Nokia then was the world’s largest phone maker. What we did not know at the time was that Nokia was actually the largest dumb phone maker and that Apple was about to become the largest smartphoneRead More →
Cracks have formed in the roughly $1.2 trillion leverage loan market that could bring the sector closer to a “point of no return” should conditions in this corner of corporate finance further deteriorate, Bank of America Merrill Lynch analysts warned. Debt-laden U.S. companies have turned to the leveraged loan marketRead More →
New York Fed President John Williams said Thursday that the central bank was closely monitoring its measures to soothe pressures in funding markets, and could adjust its plans. Since funding markets seized up last month, the U.S. central bank has regularly intervened to provide liquidity, offering daily repurchasing agreements toRead More →
Globalization has peaked, and there is a significant and underappreciated risk that the world will start to de-globalize over the coming years. The latest wave of globalization, which began after the end of the Cold War and gathered pace throughout the 1990s and 2000s, has been a crucial influence onRead More →
There has been a persistent but largely uneventful conversation about climate change over the last several years. But in 2019, we may finally be seeing the beginning of real action. Democrats in the U.S. House of Representatives introduced a “Green New Deal” last spring. While it was voted down, allRead More →
‘In these factious times, investors are hard put to find their footing. They face rising uncertainty but falling returns. By some measures, uncertainty about economic prospects is currently highest on record. Further, policy makers seem to have limited ammunition to reflate economies.’ That’s the bleak assessment of the global landscapeRead More →
When corners of the financial markets that are typically considered mundane draw outsize attention on Wall Street, it is always cause for investor concern. That was the case last week when surging overnight borrowing costs laid bare cracks in a key Wall Street funding mechanism, which left many scrambling forRead More →
