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Debenhams to start reopening shops after lockdown
Thu, 04 Jun 2020 13:17:46 GMT
The chain will reopen three shops in Northern Ireland on Monday, followed by 50 in England a week later.
Eurozone in fresh emergency action to boost economy
Thu, 04 Jun 2020 14:01:29 GMT
The central bank will increase the size of its bond buying programme by €600bn (£546bn) to €1.35tn.
Coronavirus: Lookers and Aston Martin cut 2,000 car jobs
Thu, 04 Jun 2020 09:33:00 GMT
The Lookers dealership cuts 1,500 staff and Aston Martin sheds 500, as latest figures show plunge in sales.
Quarantine rules a 'killer blow' for travel sector
Thu, 04 Jun 2020 15:11:35 GMT
The travel industry warns the mandatory two-week self-isolation will put tourists off UK visits.
German stimulus package hands families €300 for each child
Thu, 04 Jun 2020 11:50:04 GMT
The one-off payment is part of a series of measures to boost an economy hit by the coronavirus crisis.
Coronavirus: 'I may lose it all, but there’s no help for me'
Wed, 03 Jun 2020 23:06:56 GMT
Layla Barnes is one of thousands of small business owners who are getting no government support in the pandemic.
China eases foreign travel limit after US threat
Thu, 04 Jun 2020 14:54:16 GMT
The US had said it would bar Chinese airlines if Beijing did not allow US airlines to resume service.
Louis Vuitton casts doubt over $16bn Tiffany takeover
Thu, 04 Jun 2020 10:55:30 GMT
Luxury goods giant LVMH suggests its takeover for the US jeweller could be on the back burner.
HSBC and StanChart back China security laws for HK
Thu, 04 Jun 2020 02:10:00 GMT
The UK-based banks have both come out in support of China's controversial national security laws.
Coronavirus: Ex-chancellors warn of severe unemployment ahead
Thu, 04 Jun 2020 12:54:32 GMT
George Osborne, Alistair Darling and Philip Hammond were quizzed by MPs on the economic hit of coronavirus.
Rolls-Royce confirms 3,000 job cuts across the UK
Wed, 03 Jun 2020 17:45:03 GMT
The cuts, which will hit the Derby plant hardest, follow a collapse in demand for jet engines.
George Floyd: SoftBank launches $100m minorities startup fund
Thu, 04 Jun 2020 04:33:53 GMT
The announcement comes as big companies respond to the mass protests over the death of George Floyd.
Thousand of cinemas in China under threat of closure
Thu, 04 Jun 2020 03:29:01 GMT
Film audiences have moved online during the virus pandemic with fears they might not return to cinemas.
Snapchat stops promoting Donald Trump's account due to 'racial violence'
Wed, 03 Jun 2020 18:13:54 GMT
The social network says it will drop Trump from Discover over 'racial violence and injustice'.
'I’m ready to face quarantine just to get away'
Wed, 03 Jun 2020 14:32:50 GMT
As the UK's 14-day quarantine plan looms, many have decided to take a summer holiday regardless.
Social media firms fail to act on Covid-19 fake news
Wed, 03 Jun 2020 23:16:21 GMT
A study indicates that 90% of misinformation reported to Facebook and Twitter remains online.
Scots offshore wind farm blades to be made in Isle of Wight
Wed, 03 Jun 2020 19:36:36 GMT
Danish firm Vestas wins the contract to build turbines for Scotland's largest offshore wind farm.
Coronavirus: Frankie & Benny's owner to close up to 120 sites
Wed, 03 Jun 2020 13:48:53 GMT
About 3,000 jobs are at risk after one the UK's big restaurant group's warned of a coronavirus hit to profits.
Bank boss tells lenders to be ready for no-deal Brexit risk
Wed, 03 Jun 2020 14:34:29 GMT
The central bank said the advice was part of its regular weekly call with lenders.
More than half of all payments made by card even before coronavirus
Wed, 03 Jun 2020 10:03:00 GMT
Banks say the UK was "inadvertently" prepared for paying for items in lockdown as our habits had changed.
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3 Fast-Growing Small Caps
Thu, 04 Jun 2020 12:02:42 -0400
3 Fast-Growing Small CapsWall Street sell-side analysts predict these companies will grow their profits Continue reading...
Europe boosts aid to virus-hit economies as UN seeks 'people's vaccine'
Thu, 04 Jun 2020 11:59:02 -0400
Europe boosts aid to virus-hit economies as UN seeks 'people's vaccine'Europe ramped up efforts to help its coronavirus-hit economies on Thursday as the UN's chief called for a "people's vaccine" to battle the pandemic. With Brazil and Mexico seeing record deaths after Latin America became the new COVID-19 hotspot, UN Secretary-General Antonio Guterres said a new vaccine had to be available to everyone across the world. "A vaccine must be seen as a global public good -- a people's vaccine, which a growing number of world leaders are calling for," he said in a message to a virtual summit hosted by Britain that aims to raise funds for Gavi, the global vaccine alliance.
Microsoft (MSFT) Is a Bargain Stock You Can Buy Today
Thu, 04 Jun 2020 11:58:36 -0400
Microsoft (MSFT) Is a Bargain Stock You Can Buy TodayDiamond Hill Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Diamond Hill Small Cap Fund posted a return of -36.17% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned -30.61% in the same quarter. You should check out Diamond Hill Capital's top 5 […]
At Spohrer Dodd, Founding Partner Robert Spohrer and Senior Partner Roger Dodd Selected to Super Lawyers List in 2020
Thu, 04 Jun 2020 11:57:00 -0400
At Spohrer Dodd, Founding Partner Robert Spohrer and Senior Partner Roger Dodd Selected to Super Lawyers List in 2020Noted Jacksonville trial law firm Spohrer Dodd has often been recognized for a powerful tradition of success, which includes over $1 billion recovered on behalf of injury victims across the country. Now, the firm is once again pleased to share that founding partner Robert Spohrer and senior partner Roger Dodd have both been selected to the 2020 Super Lawyers list for another consecutive year.
Iran Frees U.S. Navy Vet after Two Years in Prison
Thu, 04 Jun 2020 11:54:40 -0400
Iran Frees U.S. Navy Vet after Two Years in PrisonA U.S. Navy veteran held in Iran for the past two years has been freed.Michael White, 48, was detained in July 2018 after traveling to Iran to see a woman he had met online and fell in love with. White was sentenced to 10 years in prison in March 2019, in part for insulting Iran's supreme leader Ayatollah Ali Khamenei.In March 2020 White was hospitalized with coronavirus symptoms and was furloughed along with other prisoners after the pathogen swept through Iranian jails. White's release to the U.S. is part of a prisoner swap the details of which will be released on Thursday, U.S. officials told the Associated Press."I am blessed to announce that the nightmare is over, and my son is safely in American custody and on his way home," White's mother Joanne said in a statement. "I am incredibly grateful to the Administration, especially the team at the State Department for their work on Michael’s case."The Navy veteran was on a Swiss government plane to Zurich as of Thursday morning, and from there he will be flown to the U.S. with the Trump administration's special envoy to Iran Brian Hook. Switzerland maintains an embassy in Tehran and often acts as a go-between for negotiations between Iran and the U.S.There are currently at least three other American citizens held in Iran.
Corporate Insiders Are Snapping Up These 3 Stocks
Thu, 04 Jun 2020 11:49:19 -0400
Corporate Insiders Are Snapping Up These 3 StocksThe clear upward trend in the stock markets has investors in a buying mood. The reasons are varied, and sometimes hard to pin down; while we’re still stuck in the coronavirus inspired economic doldrum, at the state and local levels economies are starting to reopen. The civil unrest of the past week is worrisome, and the destruction in urban centers is serious, but the economic blow was softened by the shutdowns. The riots would have stopped ‘normal’ activity – but that was already slowed or halted, and had been for two months. The shutdowns were already baked into market sentiment.The upshot is, there is real hope of a turnaround in 2H20. And that makes the corporate insiders a most interesting group to follow. These company officers and board members are the ones at the helm of corporate America. They’re watching the news, steering their companies, and are responsible to shareholders for corporate performance. So, when they start buying, investors should pay attention.TipRanks has a tool for that. The Insiders’ Hot Stocks shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Douglas Emmett (DEI)We’ll start with a real estate investment trust. REIT’s are popular in these pages; they hold a secure niche in the financial sector, and are well-liked by income-minded investors seeking a steady dividend stream. Douglas Emmett, which owns office and apartment properties in California and Hawaii, is typical of the species. The stock was hit hard by the market drop in February and is still underperforming, standing 26% below its February peak price. That said, DEI shows several strong attractors for investors. First, of course, is the insider signal. Yesterday, Director Christopher Anderson paid $1.3 million for a bloc of 42,800 shares. This informative purchase swung the insider sentiment on DEI into positive territory.In another point of interest to investors, DEI declared its regular quarterly dividend of 28 cents per share. This payment, which annualized to $1.12, gives a yield of 3.65%. The yield is low by the standards of REITs, but is significantly higher than the 2.16% found in the financial sector generally – and it is reliable, as the company has maintained and grown the payments for the last 11 years.Covering the stock for Piper Sandler, analyst Alexander Goldfarb notes an important point that is easy to miss in the REIT landscape. He writes, “What densification? DEI's small tenant focus (~200 sf pp) has meant its users never joined the open floor plan trend many large corporates did and thus management doesn't see the same reconfiguration need as larger CBD tenants.”Goldfarb rates DEI a Buy, and sets a $35 price target that to imply 8% growth in the coming year. (To watch Goldfarb’s track record, click here)Douglas Emmett’s analyst reviews are split 5-4 between Buys and Holds, making the analyst consensus view a Moderate Buy. Shares are priced at $32.54, so the average price target of $35.56 suggests an 8% upside in the next 12 months. (See DEI stock analysis on TipRanks)Liquidity Services (LQDT)Next up is Liquidity Services, and e-commerce company. Liquidity operates a network of online auction marketplaces under seven different brand names. The company is based in Bethesda, Maryland, in the suburbs of Washington, DC, giving it quick access to one of the world’s major cities.Like many high-tech companies, LQDT has been operating at a net loss over a long term – so investors were not phased by the 10-cent EPS loss reported in Q1. That number came in better than the 12-cent loss expected. Of greater concern, the $49.5 million in top-line revenue missed the forecast by more than 8%, and slipped 8.4% year-over-year. Clearly, the economic slowdowns of the quarter impacted sales.On major insider, CEO William Angrick has made four informative purchases in the past four weeks, totaling 196,932 shares for which he disclosed over $1 million in payment. Barrington’s Gary Prestopino, rated 5-stars by TipRanks, sees LQDT as a Buy proposition. His $10 price target suggests the stock has room for 71% growth this year. (To watch Prestopino’s track record, click here)Prestopino notes, “Prior to the pandemic-related slowdown, LSI experienced strong volume in the RSCG segment from existing sellers and from the launch of new programs with both midsized and large retailers, augmented by strong buyer demand for retail goods in the marketplace.”Overall, with 1 Buy and 1 Hold rating set recently, LQDT shares get a Moderate Buy from the analyst consensus. The $8 average price target suggests a healthy one-year upside potential of 37%. (See Liquidity stock analysis on TipRanks)Wrap Technologies (WRTC)The last stock on our list is particularly interesting, especially in light of recent events. Wrap Technologies inhabits the police and security niche, where it specializes in less-than-lethal restraint devices for police use. The company’s showcase product, the BolaWrap 100, is designed to halt and restrain individual subjects – without lethal force – at a range of 10 to 25 feet.The implications of such a product are obvious today. But it’s important to note that the company’s CTO, Elwood Norris, just bought $500,000 worth of stock. This netted him 100,000 shares. Norris, who is also listed as a >10% owner of the company, has a total holding valued at $56.8 million.Also of note for investors, WRTC beat the forecast on Q1 earnings. The company showed an EPS loss of 8 cents, 20% better than the 10-cent loss which had been predicted. That was reported at the end of April, and the barely budged the share performance. In the past week, however, WRTC shares have spiked sharply, jumping 61% in since May 28. Once again, the connection to current events is clear, and investors believe that less-than-lethal policing tools will see a surge in demand in the near future.Jon Hickman, of Ladenburg Thalmann, writes of Wrap Technologies, “Though the worldwide exposure to COVID-19 has caused a temporary slowdown in in-person sales-related meetings, the company's momentum from late 2019 and early in Q1 is resulting in orders and reorders from smaller agencies in the U.S… The Los Angeles PD's 90-day field trial is underway and the feedback to date has been positive.”Hickman puts a $9.75 price target on the stock, supporting his Buy rating and suggesting that WRTC has room for 16% growth this year. (To watch Hickman’s track record, click here)Like LQDT above, WRTC has just two recent analyst reviews – but both are Buys. The stock is priced at $8.44 after its recent surge in value. That share appreciation has pushed the stock price right up to the $8.38 average price target. Expect reviewers to adjust the price target higher in the near future, should police demand for non-lethal force alternatives increase due to social pressures. (See WRTC stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Senate Democrats, some kneeling, honor George Floyd with moment of silence at Capitol
Thu, 04 Jun 2020 11:48:31 -0400
Senate Democrats, some kneeling, honor George Floyd with moment of silence at CapitolSenate Democrats stood in silence for 8 minutes and 46 seconds at the Capitol to honor the lives of George Floyd, Ahmaud Arbery and Breonna Taylor.
Italian Bonds Back in Vogue After Lagarde Exceeds Market Hopes
Thu, 04 Jun 2020 11:47:45 -0400
Italian Bonds Back in Vogue After Lagarde Exceeds Market Hopes(Bloomberg) -- Italian bonds are in fashion with investors once again, thanks to a helping hand from the European Central Bank.The nation’s debt rallied the most in three weeks after the ECB announced a bigger-than-expected expansion to the trillions of euros in stimulus it has devoted to offsetting the economic fallout of the coronavirus.The euro rose by as much as 1.2 per cent, heading for its eighth consecutive day of gains, its longest winning streak since 2011.A key measure of risk on euro-area markets -- the yield premium on Italian 10-year debt over its German counterpart -- fell to the lowest level since March.The moves came after the ECB upped its pandemic debt-purchase program, or PEPP, by 600 billion euros ($679 billion) to 1.35 trillion euros. That was around 100 billion more than expected, giving it enough firepower to support Europe’s economy until February next year, according to Danske Bank AS estimates.Much now rests on whether Europe’s governments will follow the lead set by Christine Lagarde, the ECB’s president. To do so, they will need agreement to set up a continent-wide recovery fund, a move that could further drive borrowing costs lower for Italy’s embattled economy. Investors are already cashing in though, riding a rally in some of Europe’s highest-yielding government assets.Richard Hodges, a money manager at Nomura Asset Management Co., said that he sold his holdings of 15-year Italian bonds after the ECB decision. Antoine Bouvet, head of European rates strategy at Mizuho International Plc said that the compression of Italy’s borrowing costs relative to Germany’s still has further to run.“They had little choice but to match expectations and exceed them,” said Hodges. “What a day.”The decision also involved an extension the program’s duration and a pledge to reinvest the proceeds from maturing bonds it owns until at least the end of 2022.European stocks also rebounded from losses, with the Euro Stoxx 50 trading steady.German bonds, some of the safest assets in the euro area, bore the brunt as investors pared bets on the chance of a euro-area breakup. Yields on 30-year bunds rose 7 basis points to 0.19%.Chancellor Angela Merkel’s 130-billion-euro package of support measures, sealed after two days of negotiations, added to the diminishing attractiveness of the securities, given that extra borrowing will be needed to fund it. Yields are up for a fifth week, the longest stretch since 2018.“The ECB delivered even more than expected both with the size of the add-on to the PEPP,” said Esty Dwek, Head of Market Strategy at Natixis Investment Solutions, in emailed comments. “This is yet another step in support of more cooperation across Europe and can only be welcomed by markets.”Haggling AheadSentiment has been buoyed by the EU giving its firmest commitment yet that it is willing to do whatever is necessary to stave off growing economic dichotomies between the region’s richer Northern countries and debt-laden Southern nations. Leaders are set to start haggling over the bloc’s 750 billion euro recovery fund later this month.Part of the proposals for that include the issuance of joint-debt -- a major landmark for the bloc should it be agreed -- which would remove some of the burden on individual nation’s budgets. Italy’s debt as a proportion of economic output is set to rise above 150% this year.The need to finance bulging deficits has seen the bond market beset by a surge in debt supply. The spread between German 10-year bond yields and interest-rate swaps, for example, has narrowed to 28 basis points, the lowest since 2015, as markets make way for it.Buoyant DemandStill, demand has remained buoyant, with Italy racking up over 100 billion euros of orders for a sale of 10-year securities Wednesday.Italy is a major beneficiary from the ECB’s PEPP program, with the institution buying 37.4 billion euros of the nation’s debt since the plan started. Ten-year yields fell by as many as 18 basis points to 1.38%, narrowing the 10-year yield spread over their German peers to 172 basis points, the lowest since March 27.“Without such support, the situation would look quite different for Italy,” said Jan von Gerich, chief strategist at Nordea Bank ABp. “But no need to for such ifs: the central bank support is not going away.”(Updates throughout)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.
A Trio of Stocks for the Value Investor
Thu, 04 Jun 2020 11:45:58 -0400
A Trio of Stocks for the Value InvestorHigh sales and earnings at compelling valuations Continue reading...
A TBRC Report Suggests Collaboration Software is Helping Restart Paused Jobs During Quarantine - Including The Judicial System
Thu, 04 Jun 2020 11:45:00 -0400
A TBRC Report Suggests Collaboration Software is Helping Restart Paused Jobs During Quarantine - Including The Judicial SystemA Texas court decided to hold a jury trial via Zoom. This test trial done in May 2020 was an experiment performed over an insurance claim case with a non-binding verdict[i], allowing parts of the judicial system the opportunity to function again for the first time since the coronavirus pandemic put countries under lockdown. This remote jury trial seems to be the first such activity in the US.[ii] This was possible through collaboration software, which aims to facilitate communication by providing a convenient space to the user to perform group conversations and share relevant information. Team collaboration software platforms are used to facilitate quick communication, address questions and queries, access shared knowledge and files, and check tasks. They offer various features such as task management, file sharing, messaging, document collaboration, VoIP and video conferencing, task management, calendar, integration, and search.
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