Lake Worth Beach woman pivots career, begins mask-making business using Mayan cloth

A Lake Worth Beach woman considers herself an entrepreneur after pregnancy complications caused her to switch her job working on a farm.

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    (Bloomberg) -- Saudi stocks fell the most in a month, tracking last week’s declines across emerging markets, as traders weighed the impact of a U.S. intelligence report saying Crown Prince Mohammed bin Salman signed off on the killing of Washington Post columnist Jamal Khashoggi.The Tadawul All Share Index retreated as much 1%, its sharpest decline since Jan. 31. It was 0.6% lower as of 10:43 a.m. in Riyadh. Rajhi Bank, Saudi Basic Industries, Saudi Telecom Co. and Saudi Aramco dragged the index down the most by points.While President Joe Biden’s administration imposed only modest new sanctions on the kingdom, it’s expected to announce more action on Monday. Saudi Arabia said it “rejects the negative, false and unacceptable assessment in the report.”“We could see some influence in the sale of arms to Saudi Arabia” Alia Moubayed, the London-based chief economist for Middle East, North Africa at Jefferies International, said in an interview with Bloomberg TV. “But in terms of flows, unless sanctions hit particular asset classes, I don’t see flows being significantly affected.”Trading in Riyadh was also pressured by wider declines in emerging-market shares on Friday, when the MSCI EM Index fell 3.2% as a selloff in Treasuries triggered a slide in risk assets. Oil, Saudi Arabia’s biggest export, finished 1.1% lower last week.Outflows from the Saudi stock exchange climbed to a record of 6.6 billion riyals ($1.76 billion) in October 2018, the month when Khashoggi was killed at the Saudi Consulate in Istanbul. It was the biggest monthly drop in foreign holdings since the country opened up its stock market to international investors in 2015.MIDDLE EASTERN MARKETS:The Saudi index’s decline trims its gain in February to 5.1%Riyad Bank rises as much as 1.4%, the most among 12 listed lenders, after proposing a dividend for 2020 of 0.5 riyal per shareDubai’s DFM General Index slips 0.8%, the most in the GulfAbu Dhabi’s ADX General Index falls 0.3%In Doha, the QE Index climbs 0.1%Ezdan Holding Group rises as much as 5.3% after saying it’s finalizing a bank facility to fully repay a $500 million sukuk maturing in MayShares dropped last week after S&P Global Ratings said the Qatari property developer faces the risk of a default or debt restructuringQLM Life & Medical Insurance rises 10% for a second session, after Qatar said last week that all expatriates and visitors will be required to have health insuranceGauges in Bahrain and Oman rise 0.1%Kuwait’s market is closed for a local holidayFor 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.

  • Covid: How this Indian firm is vaccinating the world

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  • U.K. to Guarantee Mortgages to Help Young Buyers Get on Ladder

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  • How e-commerce is transforming luxury retail

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  • SoftBank reaches settlement with former WeWork CEO Neumann

    SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports earlier this week indicated the deal includes a nearly $500 million cut in Neumann's payout from SoftBank. The legal tussle between SoftBank and Neumann started in 2019, when SoftBank agreed to buy around $3 billion in WeWork stock belonging to Neumann as well as current and former WeWork employees.

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  • Canada Pension Chief’s Vaccine Trip Vexes Trudeau Government

    (Bloomberg) -- Justin Trudeau’s government criticized the head of Canada’s national pension fund for getting a Covid-19 vaccine in the Middle East, as the northern nation struggles to ramp up its own immunization campaign against the virus.Canada Pension Plan Investment Board Chief Executive Officer Mark Machin traveled to the United Arab Emirates to receive a first dose of the Pfizer Inc.-BioNTech SE shot, the Wall Street Journal reported Thursday, citing unnamed people familiar with the matter.“While the CPPIB is an independent organization, this is very troubling,” Katherine Cuplinskas, a spokesperson for Finance Minister Chrystia Freeland, said by email. “The federal government has been clear with Canadians that now is not the time to travel abroad.”The finance department was unaware of Machin’s trip, Cuplinskas said, adding further questions should be raised with CPPIB.Spokespeople for the Toronto-based fund, which has C$475.7 billion ($377.1 billion) in assets under management, didn’t immediately reply to requests for comment Thursday evening.Vaccine FrustrationNews of Machin’s trip abroad represents a potential headache for Trudeau. CPPIB’s top executive reports to a government-appointed board, but the directors are businesspeople including Nutrien Ltd. Chief Executive Officer Chuck Magro and Royal Bank of Canada Chair Kathleen Taylor, not political figures.Government policy is to avoid political interference in CPPIB’s affairs. Yet there is rising public frustration over the pace of Canada’s vaccine rollout, which is slowest among Group of Seven countries except Japan.Despite securing more doses per capita than any other nation, Canadian health authorities have given shots to just 4.5% of the population, compared to 29% in the U.K. and 20.6% in the U.S., according to Bloomberg’s vaccine tracker. That’s because Canada has to import the vaccines.Recent public opinion has turned against officials who defy the government’s pleas not to leave the country: Rod Phillips, Ontario’s finance minister, was forced to resign on Dec. 31 when it was revealed he took a Caribbean vacation at a time when many businesses in the provinces were ordered to shut their doors to contain the virus.With vaccine deliveries now accelerating after delays caused in part by export controls in the European Union, Trudeau maintains that every Canadian will be inoculated by the end of September.The vaccine problems have caused Trudeau’s personal approval rating to drop, according to a poll released this week by the Angus Reid Institute.(Updates with additional information on CPPIB board and political context starting 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.©2021 Bloomberg L.P.

  • State Bank of India Prepares Mutual Fund Venture for IPO

    (Bloomberg) -- State Bank of India, the country’s largest lender, is preparing for its mutual fund joint venture for an initial public offering, according to people familiar with the matter.SBI plans to ask investment banks for proposals after discussions with its board and shareholder Amundi Asset Management and kick off the process in the next few months, the people said. The lender could raise about $1 billion from the offering, one of the people said, who asked not to be identified as the information is private. SBI’s mutual fund is currently valued at about $7 billion, another person said.At $1 billion, the first-time share sale could be India’s biggest since the $1.4 billion listing by SBI Cards & Payment Services Ltd. in March, according to data compiled by Bloomberg. The SBI mutual fund business would also be the third such listing of its kind in the country, joining UTI Asset Management Co. and HDFC Asset Management Co.Shares in SBI pared losses in Mumbai after the Bloomberg News story, ending the day 4.2% lower as the broader banking gauge was down 4.9%.SBI’s plans to list the mutual fund arm is part of its strategy to extract more value from its units after divesting some of its stakes in its life insurance and cards businesses last year.SBI’s mutual fund is the largest in India with 5 trillion rupees ($68.4 billion) of assets under management, according to its website. The fund house posted a net income of 4.98 billion rupees for the April-December period, according to an investor presentation. SBI holds a 63% stake in the mutual fund business, while Paris-based Amundi owns the rest.Deliberations are at an early stage and details of the share sale could still change, the people said. A representative for SBI didn’t immediately respond to requests for comment.(Updates to add SBI shares in 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.

  • Warren Buffett: 'It’s easy to overlook the many miracles occurring in middle America'

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  • Warren Buffett In Annual Letter Signals More Stock Buybacks Coming This Year, Says Don't 'Bet Against America'

    Warren Buffett in his annual letter to shareholders offered words of encouragement to a battered country while also signaling that more stock buybacks are to come. Buffett's Annual Letter: The letter from the 90-year-old chief executive officer of Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) was even more anticipated than usual this year, because his influential voice has largely been silent since his last letter, which came in the very early days of the pandemic. A lot has happened since, from the contentious election and ensuing fallout, to the arrival of retailer investors pushing "stonks," not to mention the meteoric rise of Bitcoin (CRYPTO: BTC). Buffett's lieutenant, Berkshire Hathaway Vice Chairman Charlie Munger, spoke on Wednesday about some of these issues. He said the trading in stocks such as GameStop Corp. (NYSE: GME) was tantamount to "betting on racehorses" and cast doubt on the idea that Bitcoin will ever replace regular money as the world's primary medium of exchange. Buffett in his letter did not talk about cryptocurrency or GameStop, but he did touch on the turmoil of the past year, without directly referencing any particular event. He used the stories of companies throughout the country that he has invested in, such as GEICO and Pilot Travel Centers, to deliver a simple, clear message: "Never bet against America." (Italics in original.) "There has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking," he wrote. "Beyond that, we retain our constitutional aspiration of becoming 'a more perfect union.' Progress on that front has been slow, uneven and often discouraging. We have, however, moved forward and will continue to do so." Earnings, Stock Repurchases: As for the latest numbers on the company's performance, the letter showed Berkshire earned $42.5 billion last year, down 48% from 2019's $81.4 billion. This included an $11 billion loss from a write-down in subsidiary and affiliate businesses, particularly the 2016 purchase of Portland, Oregon-based metal fabricator Precision Castparts. The company does business in the aerospace industry — not the best one to be in last year. In his letter, Buffett said he overpaid for the company and that last year's "adverse developments" in the industry made that clear. "I was simply too optimistic about PCC’s normalized profit potential," Buffett wrote. The company spent $24.7 billion to repurchase the equivalent of 80,998 "A" shares last year, including $9 billion in the fourth quarter. That is likely to continue: "Berkshire has repurchased more shares since year-end and is likely to further reduce its share count in the future," Buffett wrote. Berkshire also as usual listed its top holdings by market value. They included Apple Inc (NASDAQ: AAPL), Coca-Cola Co (NYSE: KO), American Express Company (NYSE: AXP) and Bank of America Corp (NYSE: BAC). Filings from Berkshire earlier this month showed the company trimmed its positions in Apple while piling into drug, telecom and oil companies in the latest quarter. Recent Price Action: Berkshire's class B shares ended Friday at $240.51, down for the week at 0.54%. Class A shares were down 0.88% to $364,580. Photo Courtesy Wikimedia Commons. See more from BenzingaClick here for options trades from BenzingaBitcoin Hits Another All-Time High30,000 Macs Infected With Newly Detected Form Of Malware, Dubbed 'Silver Sparrow'© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Less than half of Americans support student loan forgiveness: poll

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