Rational bubble puts markets on high starting point for 2021
While investors appear bullish, some wobbles in equity markets should be expected in year ahead After navigating a global pandemic, financial markets begin 2021 with a case of déjà vu. Just like 12 months ago, bonds and equities are kicking off January at expensive starting levels. The human and economic toll of Covid-19 has left […]
New type of direct listing promises cheaper, more lucrative IPOs
The SEC approved primary direct floor listings in December. Critics worry these new listings will brew trouble. Companies can go public quicker, cheaper and with the potential to raise more capital using a new type of direct listing — known as a primary direct floor listing — the Securities and Exchange Commission (SEC) approved just […]
US oil industry awaits new era under Biden
Some producers fear green energy push but others remain sanguine after mixed results from Trump In April 2018, with oil prices near a three-year high of $75 a barrel, Opec ministers gathering in Jeddah were buoyant. Then US president Donald Trump sent a tweet: “Looks like Opec is at it again. With record amounts of […]
Venezuelan Oil Exports Crater as OPEC+ Set to Unleash More Crude
Venezuelan oil exports plummeted this month as U.S. sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to heat up. A linchpin of the Venezuelan economy, the sales slumped by about half from November to 231,613 barrels a day, according to shipping reports […]
Oman Plans 2021 Borrowing as Oil Price, Virus Batter Economy
Oman’s government will finance most of its budget shortfall in 2021 by borrowing to plug a fiscal gap battered by a decline in oil prices and the coronavirus pandemic. The Persian Gulf state is looking into borrowing that will cover 73%, or 1.6 billion rials ($4.2 billion), of the country’s 2.2 billion-rial shortfall, with the […]
Tumultuous 2020 Rewards Investors Who Stared Down Turmoil
The bell has just tolled on one of the wildest years in Wall Street history, full of precipitous plunges, improbable rebounds and human tragedy. The S&P 500 ended on an up beat, with a 1.4% gain in the holiday-shortened week. That pushed its 2020 gain to 16%, an ending that would have seemed far-fetched in […]
Verizon, Hearst Television reach deal to avoid blackout in some U.S. markets
(Reuters) – Verizon Communications Inc said on Friday it has reached a distribution agreement with Hearst Television to avoid a New Year’s Day blackout of the broadcasting group’s channels on Verizon’s fiber-optic networks in U.S. markets including Boston and Baltimore. “Verizon Fios has been able to reach an agreement with Hearst Television,” a company representative […]
France will be vigilant on post Brexit deal implementation, minister says
CALAIS, France (Reuters) – France will be vigilant over the implementation of a post Brexit trade deal reached last week between Britain and the European Union, French European Affairs minister Clement Beaune said on Friday. “This deal begins its life today. It will last years, possibly decades. Our demand is that each party respect its […]
Britain Budges on Derivatives in Last-Minute Brexit Relief
(Bloomberg) – Britain’s market watchdog eased restrictions on cross-border derivatives trading in a move to calm fears of market turbulence just hours before the Brexit transition period ends. The Financial Conduct Authority said Thursday it acted to resolve conflicting European Union and U.K. laws that threatened a $200 billion-a-day market in London for interest-rate swap […]
From Tech to Tesla, Stocks Get $14 Trillion Boost in Covid Year
In a historic year that marked a rapid plunge into bear market territory and a swift recovery into the bull zone, high-flying technology stocks and electric-vehicle pioneer Tesla Inc. were standout trades. The S&P 500 Index went from peak to trough to peak again within 175 days as investors initially shunned most stocks in response to Covid-19 lockdowns and […]
