Companies are finding out that having employees work from home can mean big savings for themselves.
The United States has grappled with shortages of medical gear and computer chips, among other items.
South Korean automaker Hyundai Motor Co launched its Ioniq 5 midsize crossover on Tuesday, the first in a planned family of electric vehicles (EV) that it hopes will propel it into the third rank of global EV makers by 2025. The company says the model is based on a new electric vehicle-only platform that uses its own battery module technology and requires fewer components than Hyundai's existing electric cars, enabling faster production at lower cost. The launch of Ioniq 5 is the linchpin of Hyundai's long-term goal to capture 10% of global EV sales by 2025, up from a combined market share of 7.2% for Hyundai and Kia together during the January-September period in 2020, according to industry tracker SNE Research.
The CEOs of Google, IBM, Goldman Sachs, and Blackstone endorsed a plan that includes $1,400 stimulus checks and a federal minimum wage of $15 an hour.
- USA TODAY
The safety of the little-known Genesis luxury car brand was thrust into the spotlight after Tiger Woods crashed a Genesis GV80 in the L.A. area.
Charlie Munger says it’s ‘really stupid to have a culture which encourages [so] much gambling in stocks’
Warren Buffett’s business partner and vice chairman of Berkshire Hathaway, in a Wednesday interview with Yahoo Finance, said the GameStop chaos was encouraged by a gambling mentality on Wall Street.
The legislation, which goes to a vote on Friday, could put thousands back in your pocket.
- Motley Fool
On Monday, the House Budget Committee approved President Joe Biden's $1.9 trillion COVID-19 relief bill, moving Americans one step closer to a third round of direct stimulus payments. The president's bill -- known as the American Rescue Plan (ARP) -- will next go to the House Rules Committee. For example, most House Republicans have made it clear that they will fight Biden's $15 minimum wage proposal, meaning it may have to be shelved for the time being.
- USA TODAY
CVS, Walgreens, Kroger, Rite Aid and other major pharmacies are offering COVID-19 vaccines at certain locations.
- Simply Wall St.
A look at the shareholders of Pushpay Holdings Limited ( NZSE:PPH ) can tell us which group is most powerful...
Bill Gates On Investing In Bitcoin: 'If You Have Less Money Than Elon, You Should Probably Watch Out'
Microsoft Corp. (NASDAQ: MSFT) co-founder Bill Gates is not bullish on Bitcoin (BTC) and is cautioning others to reconsider such investments — unless they have more money than Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. What Happened: Gates told Bloomberg on Monday that he isn’t worried about Musk’s Bitcoin randomly going up or down. “Elon has tons of money and he is very sophisticated,” the tech entrepreneur said, adding that he is more concerned about people getting into such manias who don’t have as much money to spare. “If you have less money than Elon, you should probably watch out,” Gates told Bloomberg. See also: How To Buy Microsoft Stock The philanthropist explained that he is not keen on Bitcoin, primarily because of the amount of electricity it consumes and the promotion of irreversible anonymous transactions. and that he is more enthusiastic about digital currencies. “Digital money is a good thing,” Gates said, claiming the difference lies in terms of being regulatory-compliant and still giving the convenience and low-cost associated with cryptocurrency transactions. Why It Matters: Gates told CNBC last week that he was “neutral” on Bitcoin and acknowledged the cryptocurrency’s role in bringing down transaction costs. Gates also showered praises on Musk in a New York Times podcast, dubbing the entrepreneur's work with Tesla "one of the greatest contributions to climate change anyone’s ever made." Musk has been increasingly tweeting about cryptocurrencies this year, in particular, the joke cryptocurrency Dogecoin (DOGE). The Tesla CEO’s tweets often move markets and several people, including those in the cryptocurrency community, have expressed concern over such statements from the world’s second-richest person. The electric vehicle maker also announced a $1.5 billion investment in Bitcoin this month, but Musk said the move wasn’t "directly reflective of my opinion.” Price Action: Bitcoin traded 14.3% lower at $47.906.71 at press time on Tuesday. Tesla shares are down 3.8% in the pre-market session at $687. Read Next: Elon Musk Lost B In A Single Day And The Cause Could Be One Of His Own Tweets Photo courtesy of World Economic Forum via Wikimedia See more from BenzingaClick here for options trades from BenzingaWhy BinanceCoin, PancakeSwap Cryptos Are Skyrocketing TodayEthereum, Other Altcoins Outperform Bitcoin, As Apex Crypto Finds Footing Above ,000© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Motley Fool
Shares of Churchill Capital IV (NYSE: CCIV) plunged 18.5% on Wednesday, following the special purpose acquisition company's deal with electric vehicle maker Lucid Motors. Churchill's stock price surged to a high of $64.86 on Feb. 18 following reports that the SPAC was in talks to merge with Lucid. Churchill Capital IV's stock price is down sharply since announcing its deal with Lucid Motors.
Here's what still has to happen, following the big vote scheduled for Friday.
Social Security is expected to deplete its $2.9 trillion reserve fund by 2035. Now, many people see the rich as a source of potential tax revenue for the program.
(Bloomberg) -- Li Ka-shing, Hong Kong’s richest property tycoon, is planning to raise funds for dealmaking by listing a special purpose acquisition company in the U.S., people with knowledge of the matter said.A company backed by Li’s family is working with advisers on the potential SPAC initial public offering, according to the people, who asked not to be identified because the information is private. They are considering seeking around $400 million, though the exact terms haven’t been finalized, the people said.The blank-check company could file registration documents with the U.S. Securities and Exchange Commission as soon as this week, the people said.Li is lionized by the public in Hong Kong, where he’s been nicknamed “Superman” for his investing prowess. The 92-year-old businessman became famous for his well-timed bets on everything from real estate to social media as he built a corporate empire spanning 50 countries.His family controls CK Hutchison Holdings Ltd., a $29 billion conglomerate that owns one of the world’s biggest port operators and has telecommunications, retail and infrastructure operations across Asia and Europe. They also run CK Asset Holdings Ltd., which is one of Hong Kong’s largest developers and also has investments in hotels, utilities and aircraft leasing. Both companies are now led by Li’s elder son, Victor.Li’s younger son, Richard, has already raised about $900 million via two U.S.-listed SPACs with tech mogul Peter Thiel. Richard is considering setting up a third blank-check company, Bloomberg News reported last week.No final decisions have been made, and details of the transaction could change, the people said. Representatives for Li didn’t immediately respond to emailed queries.(Adds details about Richard Li’s SPAC plans 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.
One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion...
As Washington awaits the House of Representatives' vote on the $1.9 trillion COVID-19 relief bill on Friday, California Governor Gavin Newsom signed a coronavirus aid package worth $7.6 billion,...
- Motley Fool
Shares of GameStop (NYSE: GME) were trading moderately higher on Wednesday until about 1 p.m. EST, when they started gaining a little momentum. Earlier this year, GameStop stock had an epic short squeeze, orchestrated by a group on Reddit called Wallstreetbets. This group noticed that short interest for GameStop stock was over 100%.
- Yahoo Finance
Costco has a leg up on e-commerce behemoth Amazon (AMZN) on at least one measure, according to Charlie Munger, vice chairman of Berkshire Hathaway.
(Bloomberg) -- A flurry of buying that saw GameStop Corp. shares almost quadruple from Tuesday’s close spread to a host of other meme stocks at the center of last month’s day trader-fueled boom and bust.GameStop jumped 104% in Wednesday’s cash session, spurred by a final-hour surge that brought its biggest advance since Jan. 29, the day Robinhood Markets restricted trading in it and 49 other stocks at the height of the frenzy. An equally weighted Bloomberg basket of those rose more than 5%, the most since late January. AMC Entertainment Inc. rallied 18% to push a three-day climb toward 59%. Express Inc. surged 41%, Naked Brand Group gained 31% and Koss Corp. jumped 55%.The activity inflated trading volumes in the meme stocks and caused an outage on Reddit’s WallStreetBets forum, the hub of the January volatility. The tumult continued in late trading, where GameStop rallied another 120% before paring the advance. At $135, the stock is up more than 200% from its close on Tuesday. Express jumped 30% while AMC was up 21%.“It seems like the Reddit crowd is still active and when you see a bit of news like that they’re pressing again,” Keith Gangl, portfolio manager at Gradient Investments, said in a phone interview. “Though I’m not sure how that’ll last,” he added.The sudden revival in left-for-dead stocks recalled an episode last month that captured the attention of Wall Street, regulators and eventually Congress, as members of Reddit’s WallStreetBets forum egged on retail hordes in an attempt to take on professional short sellers.Various explanations circulated as to what spurred the rallies. The GameStop frenzy came after Bloomberg News reported late Tuesday that the company’s chief financial officer Jim Bell was pushed out in a disagreement over strategy to make way for an executive more in line with the vision of activist investor and board member Ryan Cohen, the co-founder of online pet-food retailer Chewy.com. His addition to the board in early January underpinned the first flurry of moves in the stock after capturing the attention of WallStreetBets.The clearinghouse whose demands for increased margin collateral from Robinhood forced the brokerage to restrict trading last month published a white paper Wednesday that laid the grounds for speeding up the stock settlement process. It proposed cutting settlement to one day from two, prompting some chest puffing among the retail crowd on Reddit.The now infamous WallStreetBets forum, which boasts 9.2 million members, saw so much demand that the site would not load. When attempted, a page read “www.reddit.com is currently unable to handle this request” as of 4:43 p.m. in New York.(Updates late trading moves in third 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.
What Happened: Elon Musk moved the market once again, as he took to Twitter to declare his support for meme-based cryptocurrency DOGE (Crypto: DOGE). Tesla Inc (NASDAQ: TSLA) CEO shared a picture of a Doge’s mascot, a Shiba Inu, landing on the moon. Literally pic.twitter.com/XBAUqiVsPH — Elon Musk (@elonmusk) February 24, 2021 The price of DOGE surged sharply after his tweet, sending the cryptocurrency’s supporters into a flutter. The cryptocurrency was up 10% since Musk tweeted, climbing from $0.05261 to $0.0583 at press time. Why It Matters: Musk’s tweet was a reference to a popular expression in the cryptocurrency market, “to the moon.” This term is often used by market proponents to describe a cryptocurrency with a strong upward market trend or a strong belief that it will soon rise significantly in price. Musk’s support of the cryptocurrency has been evident for all his 47.8 million Twitter followers of late, as his constant tweets about DOGE have been a recurring trend over the past month. Earlier this week, he tweeted “Dojo for Doge,” seemingly pitching for the cryptocurrency to be powered by a supercomputer, and earlier this month, he encouraged large Doge holders to sell their holdings, citing “too much concentration” creating a barrier to its growth. If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo. — Elon Musk (@elonmusk) February 14, 2021 The Shiba Inu-themed digital coin rose considerably each time Musk tweeted about it, effectively making Musk’s tweets act as a trading signal to DOGE holders. Image: Courtesy of Elon Musk's Twitter See more from BenzingaClick here for options trades from BenzingaMicroStrategy Buys Additional .026B Worth Of Bitcoin, Surpasses Tesla's Bitcoin HoldingsBitcoin Bank Silvergate Capital Shares Are Up Over 1000% In A Year© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.