Will the Bengals rookie QB throw an interception vs. the Steelers?
Will the Bengals rookie QB throw an interception vs. the Steelers?
(Bloomberg) -- Xiaomi Corp. suspended trading of its Hong Kong shares on Wednesday, after failing to disclose the city’s biggest-ever top-up placement in time for the market open.China’s No. 2 smartphone maker plans to submit a filing about the share sale so that trading can resume in the afternoon session, a person familiar with the matter said, asking not to be identified discussing private information. Xiaomi didn’t respond to requests for comment.The company’s failure to disclose the stock sale more quickly came as a surprise to some market participants. The episode comes about a month after Hong Kong was rattled by an abrupt decision by Chinese regulators to yank Ant Group Co.’s planned initial public offering, which would have been the largest ever.Xiaomi sold 1 billion shares in a top-up placement at HK$23.70 each, the bottom of a range, to raise $3.1 billion, according to deal terms obtained by Bloomberg News. That represents a 9.4% discount to its last closing price of HK$26.15. The trading halt was announced without explanation after the start of Hong Kong’s premarket auction session.“It’s definitely unusual because other companies which had share placements usually file the official announcements soon after pricing,” said Castor Pang, head of research at Core Pacific-Yamaichi International Hong Kong. “It’s hard to know what’s going on.”Wednesday’s premarket auction showed the stock trading as low as HK$24.50, implying a drop of 6.1%. Hong Kong’s stock exchange requires a company to apply for a trading halt if certain inside information has been made public before an official disclosure.Xiaomi also fetched $900 million through the sale of a seven-year, zero-coupon convertible bond, the terms showed. The proceeds will add to a war chest aimed at helping the company grab market share from competitors such as Huawei Technologies Co.Xiaomi shares have rallied 143% this year, though they slipped from a high last month after the company said its internet services revenue had grown at its slowest pace in three years in the quarter ended September. Xiaomi grabbed market share from Huawei when American sanctions deepened particularly in overseas markets from Europe to India.Credit Suisse Group AG, Goldman Sachs Group Inc, JPMorgan Chase & Co. and Morgan Stanley arranged Xiaomi’s offering.(Adds reason for suspension of trading from first 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.
The workplace messaging app's sale comes as the pandemic has increased the focus on remote work.
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Pinterest, Inc. (NYSE: PINS) between May 16, 2019 to November 1, 2019, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Pinterest investors under the federal securities laws.
Asian markets were mixed Wednesday after the previous strong run-up, with profit-taking playing against vaccine prospects and renewed hopes for a fresh US stimulus.
DiDi Richards had four points and seven assists in her return from a scary spinal cord injury five weeks ago, Queen Egbo scored a game-high 25 points and No. 4 Baylor beat South Florida 67-62 on Tuesday night. Baylor coach Kim Mulkey improved to 606-101 in her 21 seasons at the school.
One could say that No. 5 Texas A&M's normally high-powered offense was a lot like the weather in last week's game against LSU -- all wet. Texas A&M hopes to look more like itself when it travels to Auburn on Saturday in search of an authoritative win that will keep it in the hunt for a spot in January's College Football Playoff semifinals. At 6-1, the Aggies need to win out and hope for someone in front of them to lose.
The Trump administration late on Tuesday released the names of more than 10 million businesses and individuals that took pandemic aid, providing more transparency for the programs which officials say have been plagued by fraud and abuse. The Treasury Department and Small Business Administration (SBA) were forced to release the information on the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) after a federal judge last month sided with a challenge brought by news organizations seeking the data under the Freedom of Information Act. The two programs were the primary means by which the federal government assisted small businesses hurt by the COVID-19 pandemic, but the Trump administration from the outset had resisted providing full transparency on who got the cash.
President Donald Trump teased running again for president in 2024 as he hosted a holiday reception at the White House on Tuesday evening. “It’s been an amazing four years,” Trump told the crowd, which included many Republican National Committee members. The video of Trump's appearance was streamed live on Facebook by one attendee, former Oklahoma Republican Party Chair Pam Pollard.
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of K12 Inc. (NYSE: LRN) between April 27, 2020 to September 18, 2020, inclusive (the "Class Period") of the important January 19, 2021 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for K12 investors under the federal securities laws.
NEW YORK, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Berry Corporation ("Berry" or the "Company") (NASDAQ: BRY) (i) in connection with the Initial Public Offering (“IPO”) on July 26, 2018; and/or (ii) from July 26, 2018 through November 3, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Northern District of Texas alleges violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. If you purchased Berry securities, and/or would like to discuss your legal rights and options please visit Berry Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.comThe complaint alleges that the Offering Documents, and, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Berry had materially overstated its operational efficiency and stability; (2) Berry’s operational inefficiency and instability would foreseeably necessitate operational improvements that would disrupt the Company’s productivity and increase costs; (3) the foregoing would foreseeably negatively impact the Company’s revenues; and (4) as a result, the Offering Documents and the Company’s public statements were materially false and/or misleading and failed to state information required to be stated therein.On November 3, 2020, post-market, Berry reported its financial and operating results for the third quarter of 2020. Among other results, Berry reported non-GAAP EPS and revenue that both fell short of estimates. In addition, Berry reported that during the quarter, “the Company undertook certain operational improvements that caused temporary reductions in our production. Notably we performed some plugging and abandonment activity that resulted in temporary shut-in of nearby wells. Additionally, improved steam management reduced overall costs but temporarily increased water disposal and well maintenance needs, resulting in a slight decrease in production.”On this news, Berry’s stock price fell $0.15 per share, or 5.28%, to close at $2.69 per share on November 4, 2020, representing an 80.78% decline from the IPO price.If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.If you purchased Berry securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/berrycorporation-bry-shareholder-class-action-lawsuit-fraud-stock-336/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.comSince 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.Contact InformationMatthew E. Guarnero Bernstein Liebhard LLP https://www.bernlieb.com (877) 779-1414 MGuarnero@bernlieb.com
There are 31 days this month, and a group in the United Kingdom has created a heartwarming advent calendar where you can do a kind act every day.
Cyber Monday 2020 may be over, but the deals aren't—all the best things you can still get on sale right now.
The survey asked 13,000 nurses about the vaccine and 34% said they would get the vaccine while 31% are still undecided.
Will former Celtic point guard Kyrie Irving be available to play this time?
After a couple of close games with mixed results, North Carolina is a heavy favorite for its next game. "We have to go back and get our offense on track, and put all three phases together," coach Mack Brown said. It also will be Senior Day for the Tar Heels (6-3), though it's uncertain how many of these players might choose to stay for the 2021 season.
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of JOYY Inc. (NASDAQ: YY), between April 28, 2016 and November 18, 2020, inclusive (the "Class Period") of the important January 19, 2021 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for JOYY investors under the federal securities laws.
Palantir Technologies (NYSE: PLTR) has not been a public company for long, but it has already given shareholders a month to remember. According to data provided by S&P Global Market Intelligence, the stock climbed 167.6% in November as investor excitement about this data analytics company hit a frenzied pace. Palantir, a software and data company co-founded by Peter Thiel, had a modest late-September public debut.
With only 12 men left to compete for Tayshia's heart on "The Bachelorette," the stakes have never been higher.
(Bloomberg) -- Macau saw revenue plummet by $27 billion this year as pandemic travel curbs kept lucrative Chinese gamblers away. While visitors are slowly returning, a potentially bigger threat is unnerving operators in the world’s biggest casino hub: the prospect China’s central bank-backed cryptocurrency, the digital yuan, will be introduced to the enclave.Though no formal plans have been announced, some junkets -- businesses that act as middlemen for Chinese high rollers who make up half the city’s gambling revenue -- are exiting the industry or shifting resources elsewhere. They’re saying that the imposition of a traceable, government-linked currency will be the death knell for an industry already hobbled by the virus’s impact and stricter rules around high-stakes gambling over the past few years.A number of casino operators say they have been approached by Macau’s regulator, the Gaming Inspection and Coordination Bureau, over the past few months to discuss the feasibility of using digital yuan to buy casino chips, which are currently denominated in Hong Kong dollars, according to people familiar with the matter.Discussions are still at an initial stage and there’s been no final decision on whether to proceed, said the people, who asked not to be identified because they’re not authorized to speak publicly about the discussions.While it appears that no change is imminent, the suggestion alone has sent shock waves through the territory, especially in the uniquely Macau industry of junkets. These companies arrange private jets and hotel stays, but their key role is to provide credit to Chinese gamblers for betting in Macau’s casinos.Macau-linked shares declined in Wednesday morning trading. Galaxy Entertainment Group Ltd., which has one of the biggest shares of high-roller revenue among Macau’s casino operators, fell as much as 3%. Suncity Group Holdings Ltd., the listed arm of Macau’s biggest junket operator, dropped as much as 2.8%.Wynn Macau Ltd. and SJM Holdings Ltd. fell as much as 2.5% and 1.4% respectively. Greater VisibilityIntroducing the digital yuan as a form of currency in Macau’s casinos would mean that high-roller Chinese gamblers no longer need to convert their yuan into Hong Kong dollars to bet big, reducing the junkets’ role as providers of credit.It would also give Beijing -- which bans gambling on the mainland -- greater visibility over cash flows through Macau’s casino halls, potentially scaring away high rollers from using the junket system, which has been linked in the past to money laundering.Junket operators, from small-time outfits to major companies with billions in revenue, are assessing their options on concern the plan will be followed through. With gaming revenue down at least 90% for six straight months since March due to pandemic-related travel curbs, junkets are already under significant financial stress.Suncity raised its stake in a Russian casino and inked a deal for a new casino project in Manila in recent months. These moves are aimed at accelerating its expansion outside of Macau in anticipation of new rules like the potential shift to the digital yuan, said a person familiar with the matter.A company representative for Suncity declined to comment. Macau’s Gaming Inspection and Coordination Bureau did not respond to a request for comment.Giving UpSome smaller players have already given up entirely. Eric Leong, who’s been offering junket services to Chinese bettors for decades, this year pivoted to becoming an importer of consumer goods like cosmetics and luxury bags.“Everyone in this industry is trying to survive however they can,” he said. “If the water is too clean, there’ll be no fish. The big gamblers will go away if casinos need to be that transparent,” he said, referring to the digital yuan prospect.While the digital yuan is yet to be rolled out for public usage in mainland China, introducing it in Macau would achieve two of Beijing’s policy objectives at once.First, it would cut off the shadow banking and money laundering activity that threatens the government’s control of its currency, contributing to outflows. Authorities in Macau have cracked down on such activity in recent years, installing facial recognition technology at Macau’s ATMs and banning proxy betting and underground banks.‘Significant Hit’It would also be the most ambitious expansion of its digital yuan yet, which some investors expect could become a tool to challenge the U.S. dollar’s dominance in the international financial system and gain greater control of its $27 trillion domestic payments industry.How China Is Closing In on Its Own Digital Currency: QuickTakeFor Macau’s casinos and gaming promoters, the immediate blow would be substantial. High rollers, which account for $17 billion of gaming revenue annually, would likely decamp to other, less-regulated gaming locations like the Philippines and Cambodia, while even small-time punters could be put off by the potential surveillance.“If applied widely, the digital yuan will bring a significant hit to both VIP and mass segments,” said Zhou Jinquan, associate professor at the Centre for Gaming and Tourism Studies in Macau Polytechnic Institute. “It’ll breach customer privacy and restrict people’s betting amount to the potential conversion cap imposed on the digital yuan to foreign currencies.”Leisure BoostStill, the move could help make Macau more attractive to middle-class Chinese tourists in the longer term. The enclave has been trying to attract these leisure visitors in bigger numbers by re-positioning itself as a recreational hub with theme park and concert offerings beyond low-lit baccarat rooms.In China, where adoption of digital payment platforms like Ant Group Co.’s Alipay and Tencent Holdings Ltd.’s WeChat Pay is near universal, the convenience of using digital yuan -- also known as e-RMB -- would appeal to consumers who must currently carry cash or bring credit cards, which are not common in mainland China, to Macau casinos, said the people.Some analysts say the potential e-RMB launch could ultimately be a good thing for Macau, which is six times the size of Las Vegas, but where growth had been slowing even before the pandemic due to the tightening of rules to prevent money-laundering, as well as rising competition from gaming locations online and in Southeast Asia.Even after the border with mainland China re-opened in September, Macau’s recovery has been slow due to the longer-than-usual visa-issuance process and the requirement that all travelers be tested for the virus.Macau ‘Quandary’“The Macau gaming industry is in a bit of a quandary at the moment and for the foreseeable future. We don’t see any hopes of recovering to 2019 levels without a drastic change in the underlying drivers,” said Ben Lee, a Macau-based managing partner at consultancy IGamiX.“One such possibility is the replacement of the Hong Kong dollar with the RMB and e-RMB, which would incorporate Macau into a single currency jurisdiction with the mainland that finally opens up Macau’s domestic market,” he said.The first cryptocurrency in the world to be issued by a central bank, the digital yuan is now being trialed internally by state-owned banks and companies like Chinese ride-hailing giant Didi Chuxing Inc. and food delivery app Meituan. The People’s Bank of China has not published a timeline or plan for rolling out full public usage.Official documents suggest that consumers and businesses would download a digital wallet on their mobile devices and load the token linked to their accounts at a commercial bank -- similar to going to an ATM.The e-RMB could challenge Ant and Tencent for a share of China’s $27 trillion payments industry. These providers are just processing claims on a bank account much like a debit or credit card, but the state token would help Chinese regulators maintain a better grasp of the country’s money supply.China’s regulatory cross-hairs are already trained on Ant, whose $35 billion initial public offering was suspended abruptly on Nov. 3 by the Hong Kong and Shanghai exchanges after new financial control rules.Authorities are only considering allowing the digital yuan inside Macau’s casinos, said the people. Digital payment platforms like Alipay and WeChat Pay aren’t included in the plan as they won’t help the Chinese government track capital flows, they said.(Updates with share moves in sixth 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.
The Nicole Kidman and Hugh Grant-led miniseries was a strong viewership success for HBO, on par with creator David E. Kelley's "Big Little Lies."