Markets
Waddell & Reed Stock Rallies, After Macquarie Group's $1.7bn Acquisition
- December 05, 2020
LPL will payMacquarie Group US$ 300 million and integrate Waddell's approximately 900 brokers and their client assets onto its platform shortly after the deal's expected close in middle of summer 2021. As a result of the transaction, Macquarie Asset Management's assets under management are expected to increase to over US$ 465 billion. The group will sell Waddell & Reed's financial advice arm to retail investment advisor LPL Financial Holdings for $US300 million ($404.9 million). (more...)
- December 05, 2020
LPL will payMacquarie Group US$ 300 million and integrate Waddell's approximately 900 brokers and their client assets onto its platform shortly after the deal's expected close in middle of summer 2021. As a result of the transaction, Macquarie Asset Management's assets under management are expected to increase to over US$ 465 billion. The group will sell Waddell & Reed's financial advice arm to retail investment advisor LPL Financial Holdings for $US300 million ($404.9 million). (more...)
Grant Shapps announces quarantine exemption for business travellers
- December 05, 2020
However, Shapps has now confirmed elite sportspeople, performing arts professionals, TV production staff and journalists will be exempt from those restrictions as of 04.00 on Saturday, as long as "specific criteria" are met. 'All travellers, including those from exempt destinations, will still be required to show a complete passenger locator form on arrival into the United Kingdom unless they fall into a small group of exemptions'. (more...)
- December 05, 2020
However, Shapps has now confirmed elite sportspeople, performing arts professionals, TV production staff and journalists will be exempt from those restrictions as of 04.00 on Saturday, as long as "specific criteria" are met. 'All travellers, including those from exempt destinations, will still be required to show a complete passenger locator form on arrival into the United Kingdom unless they fall into a small group of exemptions'. (more...)
European Union negotiator Michel Barnier cancels meeting to continue Brexit talks
- December 05, 2020
One of the key concerns is over fishing rights . The talks remain focused on the level of access given to the European fishing fleet to British waters at the end of the year and the so-called level playing field provisions. Late on Wednesday, there were signs that a deal was almost concluded. "We are at a hard point in the talks", Prime Minister Boris Johnson's official spokesman told reporters . (more...)
- December 05, 2020
One of the key concerns is over fishing rights . The talks remain focused on the level of access given to the European fishing fleet to British waters at the end of the year and the so-called level playing field provisions. Late on Wednesday, there were signs that a deal was almost concluded. "We are at a hard point in the talks", Prime Minister Boris Johnson's official spokesman told reporters . (more...)
Opec+ agrees output hike from January
- December 04, 2020
Oil has rallied recently on optimism that fuel demand will start to rebound once COVID-19 vaccines are widely distributed. Oil extended gains after OPEC+ reached a compromise deal to gradually taper production cuts next year. The ringgit opened higher against the USA dollar for the third consecutive day, riding on firmer crude oil prices fuelled by the Organisation of the Petroleum Exporting Countries+'s (OPEC+) production decision. (more...)
- December 04, 2020
Oil has rallied recently on optimism that fuel demand will start to rebound once COVID-19 vaccines are widely distributed. Oil extended gains after OPEC+ reached a compromise deal to gradually taper production cuts next year. The ringgit opened higher against the USA dollar for the third consecutive day, riding on firmer crude oil prices fuelled by the Organisation of the Petroleum Exporting Countries+'s (OPEC+) production decision. (more...)
Biden endorses $1.2 trillion relief plan as 'down payment'
- December 04, 2020
Where a stimulus deal stands: McConnell rejected the bipartisan plan after it was announced Tuesday. "In the last several days, the Democrats' leaders have signaled a new willingness to engage in good faith", he said on the Senate floor, according to Roll Call . (more...)
- December 04, 2020
Where a stimulus deal stands: McConnell rejected the bipartisan plan after it was announced Tuesday. "In the last several days, the Democrats' leaders have signaled a new willingness to engage in good faith", he said on the Senate floor, according to Roll Call . (more...)
HDFC Bank feels RBI wrath over power outage
- December 04, 2020
RBI has directed HDFC Bank's top examine the lapses and fix accountability. The bank added it would look into the critical observations made by the RBI and take measures to prevent outages in future. "We are working on a war footing to strengthen this area also now", said the chief executive officer. Customers had in December past year complained that they were unable to pay their loan EMIs or pay credit bills on time following which the RBI's deputy governor M.K. (more...)
- December 04, 2020
RBI has directed HDFC Bank's top examine the lapses and fix accountability. The bank added it would look into the critical observations made by the RBI and take measures to prevent outages in future. "We are working on a war footing to strengthen this area also now", said the chief executive officer. Customers had in December past year complained that they were unable to pay their loan EMIs or pay credit bills on time following which the RBI's deputy governor M.K. (more...)
MPC meet: RBI may keep interest rates unchanged over inflation concerns
- December 04, 2020
The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%. According to a DBS Bank research report, the RBI is likely to pause on rates. She expects the central bank to update its forecasts on inflation and growth , besides sharing its views on developments including a liquidity glut in the money market. (more...)
- December 04, 2020
The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%. According to a DBS Bank research report, the RBI is likely to pause on rates. She expects the central bank to update its forecasts on inflation and growth , besides sharing its views on developments including a liquidity glut in the money market. (more...)
Most Small Business Aid Went to Bigger Businesses
- December 04, 2020
Distributed earlier this year, it provided in excess of half a trillion dollars in financial assistance to businesses affected by the COVID-19 pandemic. Davis & Sons at nearly $7.9 million, Port of Wilmington operator GT USA Wilmington at about $7 million, and contract research organization QPS Holdings at about $6.6 million. (more...)
- December 04, 2020
Distributed earlier this year, it provided in excess of half a trillion dollars in financial assistance to businesses affected by the COVID-19 pandemic. Davis & Sons at nearly $7.9 million, Port of Wilmington operator GT USA Wilmington at about $7 million, and contract research organization QPS Holdings at about $6.6 million. (more...)
United Kingdom services activity drops less than feared in second lockdown: PMI By
- December 04, 2020
Despite easing to 53.7 in November, from 54.1 in October, the latest reading was still indicative of a solid pace of expansion. It is the agency which prepares the index based on compilation of responses from questionnaires sent to a panel of around 400 service sector companies. (more...)
- December 04, 2020
Despite easing to 53.7 in November, from 54.1 in October, the latest reading was still indicative of a solid pace of expansion. It is the agency which prepares the index based on compilation of responses from questionnaires sent to a panel of around 400 service sector companies. (more...)
Biden Makes History By Appointing All-Female Comms Team
- December 04, 2020
In a statement on Sunday evening, Biden's transition team issued a statement declaring the team the "first senior White House communications team comprised entirely of women". Ashley Etienne will be Vice President Kamala Harris' communication director after being the senior adviser for the Biden-Harris campaign. Psaki was a spokesperson at the Democratic Congressional Campaign Committee in 2006 and has also served as Communications Director to former Congressman Joe Crowley. (more...)
- December 04, 2020
In a statement on Sunday evening, Biden's transition team issued a statement declaring the team the "first senior White House communications team comprised entirely of women". Ashley Etienne will be Vice President Kamala Harris' communication director after being the senior adviser for the Biden-Harris campaign. Psaki was a spokesperson at the Democratic Congressional Campaign Committee in 2006 and has also served as Communications Director to former Congressman Joe Crowley. (more...)
Democrats hint willingness towards trimmed-down Covid-19 relief
- December 03, 2020
Sen. Bernie Sanders on Wednesday blasted Senate Majority Leader Mitch McConnell for pushing a coronavirus relief measure that contains a 100% tax deduction for business meals-a gift to corporate executives-but nothing for the tens of millions of people across the US who are struggling to afford food for themselves and their families. (more...)
- December 03, 2020
Sen. Bernie Sanders on Wednesday blasted Senate Majority Leader Mitch McConnell for pushing a coronavirus relief measure that contains a 100% tax deduction for business meals-a gift to corporate executives-but nothing for the tens of millions of people across the US who are struggling to afford food for themselves and their families. (more...)
Brexit stuck as European Union unfair, says UK
- December 03, 2020
That said, the initial reaction to such an agreement would likely be moderately positive for UK assets as it would remove the major risk of the UK spinning out of the UK with no deal. Raising the issue in the Commons yesterday, South Belfast MP Claire Hanna also pressed Secretary of State Brandon Lewis to rule out any undermining of the Northern Ireland Protocol. (more...)
- December 03, 2020
That said, the initial reaction to such an agreement would likely be moderately positive for UK assets as it would remove the major risk of the UK spinning out of the UK with no deal. Raising the issue in the Commons yesterday, South Belfast MP Claire Hanna also pressed Secretary of State Brandon Lewis to rule out any undermining of the Northern Ireland Protocol. (more...)
Hyundai boosts electric vehicle range to 500 km with new platform
- December 03, 2020
According to the Korean automaker, its new rear-wheel driven platform can provide a 500-plus kilometre full charge range (WLTP rating) and be charged up to 80 per cent in just 18 minutes with high-speed charging. It is too good. Hyundai Motor Group has revealed a new platform that will serve as the backbone for its next-generation electric vehicles, whether they be sedans, SUVs or something in between. (more...)
- December 03, 2020
According to the Korean automaker, its new rear-wheel driven platform can provide a 500-plus kilometre full charge range (WLTP rating) and be charged up to 80 per cent in just 18 minutes with high-speed charging. It is too good. Hyundai Motor Group has revealed a new platform that will serve as the backbone for its next-generation electric vehicles, whether they be sedans, SUVs or something in between. (more...)
Trump Supports McConnell's COVID-19 Relief Package: Mnuchin
- December 03, 2020
Update : House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer released a joint statement on Wednesday asking Senate Majority Leader Mitch McConnell to use the $908 billion stimulus proposal as a starting point for relief talks. (more...)
- December 03, 2020
Update : House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer released a joint statement on Wednesday asking Senate Majority Leader Mitch McConnell to use the $908 billion stimulus proposal as a starting point for relief talks. (more...)
S&P 500 hits record as investors await fiscal deal
- December 03, 2020
Canada's S&P/TSX Composite Index closed up 61.28 points, or 0.35%, at 17,358.21, with energy and cannabis stocks leading the way. The Dow Jones Industrial Average was up 35 points, or 0.1%, to 29,862 as of 2:49 p.m. Wall Street stocks were lower at the bell on Wednesday after some disappointing data from the ADP . At the same time, Salesforce .com tumbled 8.5%. (more...)
- December 03, 2020
Canada's S&P/TSX Composite Index closed up 61.28 points, or 0.35%, at 17,358.21, with energy and cannabis stocks leading the way. The Dow Jones Industrial Average was up 35 points, or 0.1%, to 29,862 as of 2:49 p.m. Wall Street stocks were lower at the bell on Wednesday after some disappointing data from the ADP . At the same time, Salesforce .com tumbled 8.5%. (more...)
Global GDP to return to pre-pandemic levels in 2021
- December 03, 2020
But it forecasts the world economy to snap back with 4.2 percent growth in 2021. In September, the OECD had forecast a contraction of 3.8 percent this year and a rebound of 4 percent next year. Its economy will see growth return in 2021 at 3.6 percent and 3.3 percent in 2022. The United States and Europe are expected to contribute less to the recovery than their weight in the global economy. (more...)
- December 03, 2020
But it forecasts the world economy to snap back with 4.2 percent growth in 2021. In September, the OECD had forecast a contraction of 3.8 percent this year and a rebound of 4 percent next year. Its economy will see growth return in 2021 at 3.6 percent and 3.3 percent in 2022. The United States and Europe are expected to contribute less to the recovery than their weight in the global economy. (more...)
Com Facebook acquires customer service startup Kustomer for reported $1B+
- December 02, 2020
Kustomer's omnichannel CRM platform enables businesses to manage customer conversations across multiple services using one dashboard. Using Kustomer , Facebook can spread out their customer service experience beyond the walls of their primary app and in many ways control the bigger picture by forging better relationships with their users regardless of the platform or medium they are reaching out from. (more...)
- December 02, 2020
Kustomer's omnichannel CRM platform enables businesses to manage customer conversations across multiple services using one dashboard. Using Kustomer , Facebook can spread out their customer service experience beyond the walls of their primary app and in many ways control the bigger picture by forging better relationships with their users regardless of the platform or medium they are reaching out from. (more...)
U.S. Bipartisan Lawmakers Propose $908 Billion COVID-19 Relief Bill
- December 02, 2020
He said must pass a targeted relief bill this year. The DXY is has printed a fresh lower low today at 91.26. State and local governments would receive direct aid under the bipartisan bill, the lawmakers said. "The people need to know we are not going to leave until we get something accomplished". For days, McConnell has been in private discussions with House Minority Leader Kevin McCarthy, Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows, getting a clear ... (more...)
- December 02, 2020
He said must pass a targeted relief bill this year. The DXY is has printed a fresh lower low today at 91.26. State and local governments would receive direct aid under the bipartisan bill, the lawmakers said. "The people need to know we are not going to leave until we get something accomplished". For days, McConnell has been in private discussions with House Minority Leader Kevin McCarthy, Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows, getting a clear ... (more...)
Small Business Weekend supports local business during COVID-19
- December 02, 2020
The entire holiday season may, however. "It's still unknown what the future holds, but I personally have had a good year". I don't want to give my money to places that are already wealthy when I can help my friends and family. We have not only shopped there for personal gifts, but Nan shopped there when she was a band director. "I delivered it because it's that important to us that they support us and this year more than ever". (more...)
- December 02, 2020
The entire holiday season may, however. "It's still unknown what the future holds, but I personally have had a good year". I don't want to give my money to places that are already wealthy when I can help my friends and family. We have not only shopped there for personal gifts, but Nan shopped there when she was a band director. "I delivered it because it's that important to us that they support us and this year more than ever". (more...)
Alia Bhatt-Soni Razdan celebrate Shaheen Bhatt's birthday with drinks, throwback photos
- December 02, 2020
According to a Pinkville report , the Raazi actress bought a 2,460 sq ft apartment in Bandra's Pali Hill "Vastu" last month for a whooping Rs 32 crore. Ranbir Kapoor , close friend, director Karan Johar , Brahmastra director Ayaan Mukherjee were among those who joined Pooja. Buzz is that Alia has given interiors to Shah Rukh Khan's wife, interior designer and filmmaker Gauri Khan . (more...)
- December 02, 2020
According to a Pinkville report , the Raazi actress bought a 2,460 sq ft apartment in Bandra's Pali Hill "Vastu" last month for a whooping Rs 32 crore. Ranbir Kapoor , close friend, director Karan Johar , Brahmastra director Ayaan Mukherjee were among those who joined Pooja. Buzz is that Alia has given interiors to Shah Rukh Khan's wife, interior designer and filmmaker Gauri Khan . (more...)
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