Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until July 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Grand Canyon Education, Inc. (NasdaqGS: LOPE), if they purchased the Company's securities between January 5, 2018, and January 27, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Delaware.
The coronavirus stock market rally is going great, with big-cap techs soaring. Here's what investors need to do now.
San Antonio, Texas, 4e Brands North America is voluntarily recalling ten (10) bottle sizes of Hand Sanitizers to the consumer level. The products are being recalled due to the potential presence of methanol (wood alcohol).
China Everbright Limited ("CEL"), and Terminus Technologies (Terminus), recently announced the joint launch of "CEL AI Economy Fund", aiming to raise RMB 10 billion and operate in both Renminbi and US dollars.
(Bloomberg) -- Oil dropped ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.Futures in New York fell toward $40 a barrel after closing up 2.4% on Friday. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance from the Energy Ministry, according to two people from the industry who spoke on condition of anonymity.The increase in supply would come as the still-raging pandemic clouds the demand outlook. The U.S. is struggling to control the outbreak, with many states reversing re-opening plans. Australia’s second-largest city, meanwhile, went back into lockdown last week as the virus made a comeback there.The OPEC+ cutbacks have been instrumental in driving the recovery in oil prices from their nadir in April and the challenge confronting the group is how to avoid an erosion of those hard-fought gains. The International Energy Agency said in a report Friday that fuel demand should rebound sharply over the next three months as economic activity resumes, while warning the virus is “casting a shadow over the outlook.”“OPEC+ is probably desperate to taper off the cuts as per the agreements, but there is great uncertainty and they will probably be looking closely at what is happening in the U.S.,” said Jeffrey Halley, a senior market analyst for Asia Pacific at Oanda. “This rally doesn’t have a lot of solid foundations, and it wouldn’t take much for people to start running for the doors again.”West Texas Intermediate for August delivery fell 1% to $40.16 a barrel on the New York Mercantile Exchange as of 10:20 a.m. in Singapore. Brent for September settlement dropped 0.9% to $42.85 on the ICE Futures Europe exchange after finishing up 2.1% on Friday.The global benchmark crude’s three-month timespread was 65 cents in contango -- where prompt prices are cheaper than later-dated contracts -- compared with 41 cents in contango at the end of June. The market structure indicates that concern about over-supply is increasing slightly.The Joint Ministerial Monitoring Committee, the panel that reviews OPEC+’s progress, will consider whether the alliance should keep 9.6 million barrels of daily output off the market for another month, or taper the cutback to 7.7 million barrels as originally planned. Members are leaning toward the latter option, according to several national delegates who asked not to be identified.Saudi Arabia, meanwhile, gave as least three Asian customers less August-loading crude than they had sought, said people with knowledge of the companies’ procurement. One North Asian buyer received a 20% cut and a Southeast Asian refiner got a reduction of less than 20%.In the U.S. the number of active oil rigs fell by four last week to 181, the least since June 2009, according to Baker Hughes Co. data released Friday. A resumption of Libyan crude exports also looks to be in doubt after military commander Khalifa Haftar, a key player in the nation’s civil war, warned he would continue to blockade ports and fields.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.
Stats Perform, the SportsTech leader in data and AI technology, has extended its multi-year, exclusive official betting data and streaming partnership with Australia’s rapidly growing Hungry Jack’s National Basketball League (NBL).
The Bank of Japan said on Monday that Seiichi Shimizu, currently head of its markets department, will become head of the bank's department overseeing monetary policy drafting. Shimizu will replace incumbent Takeshi Kato, who will become head of the BOJ's branch in Nagoya, central Japan, with both appointments effecting from July 20. During his stint as head of the markets department, Shimizu played a key role in implementing measures to ease market strains caused by the coronavirus pandemic, such as the expansion of the BOJ's dollar swap lines with other central banks.
A majority of U.S. companies in Hong Kong surveyed by the American Chamber of Commerce (Amcham) are concerned about the sweeping new national security law in the global financial hub, with a third looking to move assets or business longer-term. The Amcham survey, published on Monday and to which 183 or 15% of its members responded on July 6-9, showed 36.6% of respondents were "somewhat" concerned and 51% were "extremely concerned" about the legislation. More than two-thirds of the respondents were more concerned than a month ago, when the full details of the law, which came into force just before the anniversary of the former British colony's return to Chinese rule on July 1, 1997, were unveiled.
The International Chamber of Commerce, a global trade union and civil society groups urged the Group of 20 major economies to extend and expand a freeze in debt service payments to help not just the poorest, but also middle-income countries, weather the coronavirus pandemic and its economic fallout. The ICC, International Trade Union Confederation, and Global Citizen, a group pushing to end extreme poverty by 2030, also called on G20 finance ministers, who will meet online on July 18, to take additional steps to boost the participation of private creditors, who have been slow to engage. In an open letter to be published Monday, the groups said further steps were needed since the global economy was facing an even deeper downturn than projected in April, when the G20 and Paris Club of creditors announced a freeze in debt service payments for the world's 73 poorest countries through year-end.
(Bloomberg) -- Australia’s effective unemployment rate that also includes people who have opted against searching for work as the economy contracts is almost double the official jobless level, Treasurer Josh Frydenberg said.“That is around 13.3% right now,” Frydenberg said of the effective rate, in contrast to the official unemployment rate of 7.1%, in Melbourne Thursday. “That is a large number of people reflecting the economic challenges that we see right now.”Australia’s economy tumbled into recession in the first half of the year -- ending an almost three-decade expansion -- and Treasury, the department that provides economic analysis and develops policy for Frydenberg, reckons official unemployment will climb to 8% this quarter.“We have seen a big reduction in hours worked in the months since the Covid pandemic first hit in Australia. Globally, they are seeing the same,” the treasurer said. “That just reflects the enormous economic challenge that we face and the impact it’s having on the unemployment rate.”The official unemployment rate has been held down by people giving up looking for employment -- captured with sharp fall in the participation rate -- and by the government’s JobKeeper program that pays a wage subsidy to keep workers tied to employers.The jobless rate probably edged up to 7.2% in June as those previously discouraged from job searching return, offsetting the 100,000 positions added in the month, economists predicted ahead of Thursday’s employment data. The expected surge in hiring reflects the removal of restrictions and reopening of the economy during the month.The southern state of Victoria, the second largest contributor to gross domestic product, has since had to reimpose lockdown orders as a second wave of Covid-19 sweeps the state capital, Melbourne.Frydenberg is due to deliver a fiscal and economic statement on July 23 that will outline the government’s plans for ongoing stimulus as programs like JobKeeper and JobSeeker, a temporarily higher welfare payment for the unemployed, are due to expire in September.There will be a “second phase of income support. It will be governed by the same principles that have defined our economic measures to date, namely that our support will be targeted, it will be temporary, it will be designed based on existing systems and it will also be demand driven,” Frydenberg said.“So it is fair to say in Victoria, with the lockdown, which is going to be harsh on businesses and households, that our announcements on the 23rd will take into account the Victorian circumstances,” he said.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 deal represents the largest-ever SPAC merger, said Multiplan parent Hellman & Friedman (H&F). The merged company will operate under the name MultiPlan, which will be listed on NYSE, the companies said in a joint statement on Sunday, adding that the deal will expand MultiPlan's data analytics platform.
Moody's SF Japan K.K. has assigned a definitive rating to Auto Loan ABS Program 2007 Series. This transaction is backed by auto loan receivables. The Loan Fund Trustee enters the affiliated auto loan program agreement with the affiliated financial institution, acting as originator and initial servicer.
The acquisition would expand Analog Devices' offerings in applications such as autonomous vehicles and 5G telecommunications networks. The deal under negotiation calls for Maxim shareholders to be paid in Analog Devices stock rather than cash, allowing them to share in the upside of combined company's shares, the sources said. It has a market capitalization of $45.9 billion.
Jordan's Prime Minister Omar al-Razzaz promised on Sunday to deepen a crackdown on tax evasion that officials say has deprived the country's cash-strapped economy of billions of dollars' revenue in recent years. The government has gone after senior businessmen and former politicians suspected of tax dodging, money laundering and customs evasion in a weeks-long campaign that has gained greater urgency with the hit to state finances from the COVID-19 pandemic. Tax authorities have raided around 650 companies so far, sometimes accompanied by security forces, according to officials who say this is the biggest campaign to combat tax evasion in decades.
Britain is urging businesses and individuals to prepare for the Dec. 31 end of the Brexit transition period with an information campaign titled: "The UK's new start: let's get going." Britain left the European Union on Jan. 31, three and a half years after a referendum, but a transition period has delayed any major change in the relationship. Cabinet Minister Michael Gove said on Sunday progress was being made in talks but there were still divisions.
Amgen (NASDAQ:AMGN) today announced an additional investment of approximately $421 million in BeiGene's registered direct offering of ordinary shares, which maintains Amgen's current pro rata ownership of BeiGene at approximately 20.3%. This additional investment reflects Amgen's confidence in the progress the companies are making in their ongoing oncology collaboration in China, the world's second largest pharmaceutical market.
Trinseo (NYSE: TSE), a leading solution provider, today announced its 2030 Sustainability Goals. Reaching a milestone celebrating its 10th anniversary this year, Trinseo believes it is high time to embark on an ambitious, measurable, and achievable longer-term sustainability journey.
Ministry of Tourism and Creative Economy/Tourism and Creative Economy Agency launched "Indonesia Care", a national campaign to implement health protocols as well as verification in order to present clean, healthy, safe, and environmentally sustainable destinations at XXI Studio of Plaza Senayan, Jakarta.
The unprecedented increase will see total global corporate debt jump by 12% to around $9.3 trillion, adding to years of accumulation that has left the world's most indebted firms owing as much as many medium-sized countries. "COVID has changed everything," said Seth Meyer, a portfolio manager at Janus Henderson, the firm that compiled the analysis for a new corporate debt index. Companies tapped bond markets for $384 billion between January and May, and Meyer estimates that recent weeks have set a new record for debt issuance from riskier "high yield" firms with lower credit ratings.
“Detention,” a school-set thriller-horror sited during Taiwan’s martial law or White Terror period, was Sunday named as best narrative feature at the Taipei Film Award, the closing event of the Taipei Film Festival. The film, adapted from a Red Candle video game, also claimed the best actress, best art design, best visual effects and best […]
Coronavirus remains unchecked, but the Nasdaq is aiming for another all-time high. Is earnings season taking priority?
Jul.12 -- Tensions between China and the U.S. are escalating with the Trump administration saying it’s “just getting started” on taking strong action against Chinese-owned social media apps. Bloomberg’s Jodi Schneider reports on “Bloomberg Daybreak: Asia.”