Democrats are moving swiftly to provide $1,400 stimulus checks to Americans. The House is expected to vote this week on a newly-drafted $1.9 trillion stimulus bill that would authorize these checks, as well as many other forms of financial relief including additional help for the unemployed. As lawmakers on the left act quickly to deliver direct payments to Americans, they're benefitting from ample support from powerful voices.
Congress has a few variables to play with when deciding on the next round of stimulus checks. The $1,400 amount seems to be settled, so the next question is, who is eligible to receive it? In addition...
- Motley Fool
Keep reading to see why O'Reilly Automotive (NASDAQ: ORLY), Walmart (NYSE: WMT), and Dufry (OTC: DUFRY) all look like great buys today. Additionally, stimulus checks and other government handouts have helped grease spending on auto parts, which are usually purchases of necessity.
(Bloomberg) -- Heinz Hermann Thiele, a German investor and industrialist and one of the country’s richest men, has died. He was 79.Thiele died unexpectedly in Munich, according to a statement issued Tuesday by Knorr-Bremse AG, the brake-system manufacturer of which he was deputy chairman and majority shareholder. The company didn’t provide a cause of death or name his replacement.A native of Mainz, Thiele amassed a manufacturing empire that included a 59% stake in Knorr-Bremse and half of railroad-equipment maker Vossloh AG. His $20.2 billion fortune made him the fourth-richest person in Germany and the 97th-wealthiest in the world, according to the Bloomberg Billionaires Index.The tycoon had recently taken center stage as an activist investor in a drama gripping Deutsche Lufthansa AG. In June, he built a significant stake in the beleaguered airline and expressed dissatisfaction with the government’s rescue plan.It wasn’t immediately clear what Thiele’s death will mean for Lufthansa. His family hasn’t publicly commented on what it plans to do with his 12.4% stake in the carrier.A spokesperson for Lufthansa wasn’t immediately available for comment.Thiele’s investment in the airline led to a burst of activism in the run-up to its June 2020 AGM. He ultimately supported the bailout that led the German government to become its largest shareholder.His last public intervention came in November 2020, when he called on the government to broker pay-cut talks with the airline’s unions. The government didn’t join the discussions with labor representatives.Knorr-BremseThiele started at Knorr-Bremse in 1969 as a legal specialist in the patents department, and rose through the ranks before buying the company in 1985. At that point, he hadn’t even repaid the mortgage on his house, he said in an interview with the Frankfurter Allgemeine Zeitung newspaper.He and his family pocketed about 3 billion euros ($3.6 billion) from the initial public offering of Knorr-Bremse in 2018. Thiele said at the time he planned to hand over the company to his daughter and that estate planning factored into his decision to list it. More recently, he appeared to be building a war chest to fund private investments and last year sold about $2 billion of the brake-maker’s shares.He controlled his holdings in both firms through his family office, Stella, which hired Linde Group’s former head of pension investments, Christoph Schlegel, around the start of last year as its chief investment officer.(Updates with Lufthansa investment details from 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.
Oil prices were mixed on Thursday with U.S. crude edging up to its highest close since 2019 as Texas refineries restarted production after last week's freeze, while Brent eased on worries that four months of gains will prompt producers to boost output. Earlier in the day, an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the winter storm in Texas, helped boost both U.S. crude and Brent to their highest intraday prices since January 2020. Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel.
These players didn't live up to the big money they were paid.
Standard Chartered PLC on Thursday restored its dividend and reaffirmed its long-term profit goals, in a show of confidence about its ability to recover from the impact of the COVID-19 pandemic even as its annual profit more than halved. The Asia, Africa and Middle East-focused bank however warned that income in 2021 is likely to be close to last year, showing the challenge it faces to meet its modest profit goals in a world of rock-bottom interest rates. Boosting revenue has been Chief Executive Bill Winters' main headache in recent years, as slowing growth in many of the bank's key markets, a commodities downturn and low central bank rates all conspired to crush income.
Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 returns
As of Feb. 19, only 8 full days into the 2021 filing season, the IRS received 34.69 million individual returns.
The U.S. House votes Friday on a bill to give you a third payment. Could there be another?
- Yahoo Finance
Charlie Munger: It's 'absolute insanity' to think owning 100 stocks instead of five makes you a better investor
Munger says the argument for diversification should be called 'diworsification.'
Here's what still has to happen, including the big vote scheduled for Friday.
(Bloomberg) -- Shares of GameStop Corp. doubled yesterday and jumped another 19% today. Options traders think the stock can do much better than that.The most-active option traded on the stock Thursday was a contract betting that GameStop shares would spike to $800 on Friday. Some 52,000 contracts changed hands during the session betting on this one-day gain of 636%For other options traders, it was a question of when GameStop would hit the $800 mark, not if. The seventh and eighth most-active contracts were call options wagering that the stock would reach $800 by next Friday or in three weeks. It’s hard to say whether the contracts were mainly bought or sold, two traders said.“It’s speculation gone wild, pure and simple,” said Steve Sosnick, chief strategist at Interactive Brokers LLC. “It is Exhibit A in the nuttiness that is associated with GameStop.”GameStop’s Reddit-driven roller-coaster ride that roiled markets last month is continuing this week, with shares more than doubling in the final 90 minutes of trading on Wednesday and rising as much as 101% on an intraday level on Tuesday. The rally came as popular tech names from Tesla Inc. to Zoom Video Communications Inc. were battered after U.S. 10-year Treasury yields spiked to 1.6%.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.
(Bloomberg) -- The world’s biggest Bitcoin fund is selling off faster than the cryptocurrency itself.The $32 billion Grayscale Bitcoin Trust (ticker GBTC) has plunged 20% this week, outpacing a 13% decline in the world’s largest cryptocurrency. GBTC’s once-massive premium to its underlying holdings has evaporated as a result, with the price of GBTC closing 0.7% below its underlying holdings on Wednesday -- the first discount since March 2017, according to data compiled by Bloomberg.The vanishing premium suggests that after billions poured into GBTC as investors sought exposure to Bitcoin’s dizzying rally, investors are looking for the exits as the climb stalls, according to Bloomberg Intelligence.“This is panic or profit-taking selling,” said Eric Balchunas, BI’s senior ETF analyst. “It’s almost like the price of GBTC is an amplified version of Bitcoin price.”Bitcoin surged to a record of over $58,000 last weekend, but has stumbled since. The cryptocurrency fell another 1.4% on Thursday, on pace for its worst weekly pullback in a year.Michael Sonnenshein, chief executive officer of Grayscale Investments, acknowledged the risk of GBTC’s premium disappearing while speaking in a panel for the Bloomberg Crypto Summit on Thursday.“It’s certainly a risk, no question about it, but ultimately price discovery in GBTC every day is driven entirely by market forces,” Sonnenshein said.(Updates with comments from Michael Sonnenshein of Grayscale in the sixth 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.
- Simply Wall St.
In this article we are going to estimate the intrinsic value of Ozon Holdings PLC ( NASDAQ:OZON ) by taking the...
Ivanka Trump and Jared Kushner have filed their final financial disclosure forms (known as OGE 278e), covering their non-governmental income for 2020 and the first few weeks of 2021. Both give a...
What Happened: The largest crypto exchange in Southeast Asia, Philippines-based PDAX, experienced a technical failure that led to Bitcoin trading at $6,000 – an 88% discount to its current price. Following the incident, PDAX asked its customers to return their Bitcoins, threatening legal action, a local news outlet Bitpinas has reported. According to the exchange’s CEO, the system error was not due to a hack but a technical “glitch” caused by a massive surge in trading activity. Why It Matters: The initial outage is said to have taken place on February 18; however, since then, reports have surfaced on social media of customers being locked out of their exchange accounts and being asked to “return their Bitcoin.” “After almost 24 hours, they sent me a demand letter and SMS, requesting me to transfer back the BTC, or they “may” be compelled to take legal actions against me.” said one trader who believed his purchase was well within his rights without violating any laws or regulations of the trading platform. See also: How to Buy Bitcoin (BTC) Rafael Padilla, an attorney representing the affected users who are currently locked out of their accounts, commented on the issue on Facebook. “Our client’s trade transaction was legitimate under applicable laws, decided cases, and of course according to PDAX’s very own terms and conditions/user agreement.” According to Padilla, PDAX has opted to lock users out of their accounts because it cannot unilaterally reverse the transactions. An official statement from PDAX claims that 95% of accounts have been restored, but according to the report, many users are still locked out of their accounts. “It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today. Image: vjkombajn via Pixabay See more from BenzingaClick here for options trades from BenzingaElon Musk's Tweet About Dogecoin Sends Price Up 10% In 30 Minutes AgainMicroStrategy Buys Additional .026B Worth Of Bitcoin, Surpasses Tesla's Bitcoin Holdings© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- LA Times
Engine failures on commercial planes happen with some frequency. Modern jets are designed to fly safely for a while even after one engine quits.
Microsoft Corporation (NASDAQ: MSFT) founder Bill Gates is concerned about Bitcoin’s impact on climate change. What Happened: “Bitcoin (CRYPTO: BTC) uses more electricity per transaction than any other method known to mankind,” Gates told CNBC’s Andrew Sorkin in a live-streamed Clubhouse session on Wednesday. Researchers at Cambridge have found that by consuming over 121.36 terawatt-hours (TWh) a year, BTC electricity consumption is more than the whole of Argentina. In fact, some critics have argued that when an electric car company like Tesla Inc (NASDAQ: TSLA) invested $1.5 billion in Bitcoin, it unwittingly may have undermined its environmental image. See also: How to Buy Bitcoin (BTC) Why It Matters: Gates went on to tell Sorkin that there was a more efficient way of doing digital currency that wouldn’t require such high usage of electricity. Gates seemed to hint that a digital currency might be in the works at his foundation. “There are other ways of doing digital currency that our foundation is involved with which are done in local currency,” he said. “The transactions are not secret, they’re reversible. You can’t use it for ransom or things like that, and yet the transaction fees are so low that it's empowering the poorest.” What Else: While the energy requirements to mine and produce Bitcoin are still considerably high, cryptocurrency analytics firm Arcane Research finds that Bitcoin contributes to only 2.3% of digital tech emissions. Bitcoin’s climate footprint of 37Mt CO2 is still minuscule compared to other digital industries. The total GHG emissions from digital tech are estimated to 1600Mt, with Bitcoin contributing to roughly 2.3% of the digital tech emissions. pic.twitter.com/n3hWiFfpxm — Arcane Research (@ArcaneResearch) February 16, 2021 Image: World Economic Forum via Wikicommons See more from BenzingaClick here for options trades from BenzingaCrypto Exchange Asks Customers To Return Bitcoin After Selling It At 88% DiscountElon Musk's Tweet About Dogecoin Sends Price Up 10% In 30 Minutes Again© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Feb.24 -- Sohini Andani, fund manager at SBI Mutual Fund, discusses the RBI’s monetary policy and what it means for markets. She speaks during the “India Focus” segment on “Bloomberg Markets: Asia.”
- Yahoo Finance
A medical graduate who had about $440,000 in student debt saw 98% of his loans cancelled by a bankruptcy court in California, according to a recent filing.
- Motley Fool
Shares of Tesla (NASDAQ: TSLA) were crushed on Thursday. The growth stock was likely down both because of a sharp sell-off in the overall market and news that the automaker's Model 3 production line in Fremont, California may have temporarily paused. The Model 3 production line at Tesla's California factory is shut down between Feb. 22 and March 7, according to a Bloomberg report on Thursday.