Skip to content

Day: September 13, 2020

MINNEAPOLIS —
It’s unusually quiet on what would normally be one of the busiest days of the year, with people outside tailgating in the surrounding parking lots near the U.S Bank Stadium in Downtown Minneapolis.

“In general, I would say Downtown just doesn’t have any traffic anymore, ever since March,” says Cindy Harrison, who owns Sawatdee Thai Restaurant.

Harrison owns Sawatdee Thai Restaurant, right across from the US Bank Stadium. Her family has been in business for more than thirty years, but she says this years’ Vikings season opener is out of the norm.

“Even on the cold days the Vikings fans are out tailgating, and obviously not today,” says Harrison.

The Vikings announced there will be no tailgating during the 2020 season – due to COVID-19. Harrison says it’s another blow for businesses struggling to survive. “We hope people will come. We have some outdoor seating and a really

Read More

Midstream struggled again this week in a risk-off week for stocks and commodity prices. Utilities and infrastructure outperformed, starting to show more consistent defensive characteristics since the market rolled over a few weeks ago.

MLPs dropped 4%+ in back-to-back weeks for the first time since March. Midstream was only down three of four days, an improvement from all five days last week. The MLP Index total return since June 8 is -30%, and the AMNA total return is -19% from that date. It’s been a rough three months, but MLPs’ return is still +66% from the absolute bottom in March. The volatility and short cycle swings are the new normal for a midstream sector that continues to trade with sentiment for energy broadly.

Midstream management teams continue to re-assess the fundamental environment and cut back on plans for new infrastructure. This week’s EPD pipeline cancelation is probably the last big

Read More

People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City.

Spencer Platt | Getty Images

U.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months.

Dow Jones Industrial Average futures traded 161 points higher, 0.6%. The S&P 500 also climbed 0.6% and Nasdaq 100 futures were up by nearly 1%. 

Sentiment was lifted in part by news of Nvidia buying chip maker Arm Holdings from SoftBank for $40 billion. Nvidia will finance the deal through a combination of cash and common stock. 

The S&P 500 fell by 2.5% last week. It was the broader-market index’s worst one-week drop since June 26. That decline also marked the first time since May that the S&P 500 closed lower in two straight weeks.

Those losses were driven in large part by a steep

Read More

Crew change on ships at Vizhinjam near Thiruvananthapuram has been roiled by efforts of a local steamer agent to block rivals from undertaking staff swap.

Dowins Resources Pvt Ltd, a local steamer agent, has formed an association – Minor Ports Traditional Steamer Agents Association – with the aim of creating a monopoly over crew change business at Vizhinjam.

Vizhinjam emerged on the world crew change map in July as embattled ship owners and managers sought newer locations for swap staff on ships after travel restrictions imposed by nations to deal with the spread of coronavirus disrupted this key activity globally since March.

Since opening-up for crew change, Vizhinjam has seen some 350 crew being rotated from 26 ships, of which 25 were carried out by Dowins Resources and One by Capital Holdings.

Dowins Resources and Capital Holdings had secured interim orders from the Kerala High Court to undertake crew change

Read More

NVIDIA and Arm

NVIDIA to Acquire Arm for $40 Billion, Creating World’s Premier Computing Company for the Age of AI
NVIDIA to Acquire Arm for $40 Billion, Creating World’s Premier Computing Company for the Age of AI
NVIDIA to Acquire Arm for $40 Billion, Creating World’s Premier Computing Company for the Age of AI
  • Unites NVIDIA’s leadership in artificial intelligence with Arm’s vast computing ecosystem to drive innovation for all customers

  • NVIDIA will expand Arm’s R&D presence in Cambridge, UK, by establishing a world-class AI research and education center, and building an Arm/NVIDIA-powered AI supercomputer for groundbreaking research

  • NVIDIA will continue Arm’s open-licensing model and customer neutrality and expand Arm’s IP licensing portfolio with NVIDIA technology

  • Immediately accretive to NVIDIA’s non-GAAP gross margin and EPS

  • Consideration of $40 billion to be met through a combination of NVIDIA shares and cash

SANTA CLARA, Calif. and CAMBRIDGE, United Kingdom and TOKYO, Sept. 13, 2020 (GLOBE NEWSWIRE) — NVIDIA and SoftBank Group Corp. (SBG) today announced a definitive agreement under

Read More

Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.

Read on for news on how Facebook became a haven for misinformation and conspiracy theories, McDonald’s worst nightmare, and former employees of Tanya Zuckerbrot’s popular F-Factor diet speaking out.


How Facebook became a haven for misinformation

Mark Zuckerberg

Mark Zuckerberg

Drew Angerer/Getty Images


Hello!

I still remember the first time I heard about Facebook. It was late 2005, and I was catching up with old friends who both attended a different university in the UK where the site had already established a following. They joked about their classmates who would post there all the time.

15 years later, it’s easy to wonder how Facebook morphed from that early iteration into what it has become today.

From Rob Price:

In recent months, posts and pages with

Read More

Prior to putting on the Burgundy and Gold for the first time, Washington Football Team rookie Chase Young arrived at FedExField on Sunday wearing an all-green suit.

The shade resembled that of the Week 1 opponent Philidelphia Eagles’ color scheme, making it seem like Young may have been trying to troll the NFC East rival or show them he was about to dominate. It’s something longtime Washington player Brian Mitchell used to do.

However, following Washington’s 27-17 win over the Eagles, Young explained the reasoning behind his outfit. It had nothing to do with the opponent, and everything to do with the defensive end trying to show how he was feeling ahead of his debut.

“I feel like I look like money right now,” Young said on Washington Football Live. “That’s what I feel like. I came out trying to prove a point with what I put on.”

Young definitely

Read More

Text size

The earnings calendar is relatively sparse this week. Homebuilder

Lennar

reports on Monday, followed by

Adobe

and

FedEx

on Tuesday.

Charles Schwab

and Progressive release August sales data on Tuesday and Thursday, respectively.

The main event on the economic calendar is the Federal Open Market Committee’s September meeting, which concludes on Wednesday. A change in interest rates is unlikely, but Chair Jerome Powell may have more to say about the central bank’s monetary policy framework and willingness to let inflation run above 2%.

Economic data out this week include August retail sales from the Census Bureau on Wednesday. Consumer spending is expected to have climbed 1.3% from July. On Friday, the University of Michigan releases its September Consumer Sentiment Index and the Conference Board releases its Leading Economic Index for August.

Monday 9/14

Lennar reports quarterly results.


Pfizer

hosts a two-day virtual investor day to discuss its pipeline

Read More

Peter Dunn, Special to USA TODAY
Published 6:45 p.m. ET Sept. 13, 2020

CLOSE

Many U.S. airlines are overstaffed due to reduced flying schedules and low demand for air travel amid the coronavirus pandemic.

USA TODAY

Dear Pete 

Other than the stock market and the occasional re-employment surge, it doesn’t feel like our economy is heading in the right direction. I’ve been through a recession or two, and this one seems as bad, if not worse than all of the other ones. Is it possible we’re looking at years, as opposed to months, to get this thing back on track? I don’t think the stock market and its swift recovery is telling the real story.  

With so many elements of American life heading in the wrong direction, it’s challenging to know what is heading in the right direction. We’re all trying to read the tea leaves and find meaning in

Read More

The coronavirus crisis has given many of the UK’s small businesses a “once in a generation” opportunity to adopt digital technology and permanently improve their productivity, according to Be the Business, the government-backed organisation aimed at improving corporate performance.

Although business pressures from Covid-19 will cause many small companies to fail and will harm the economy, the shock of lockdown and remote working has persuaded many small companies of the benefits of basic digital technology.

After extensive research into companies’ attitudes towards technology adoption, Be the Business said this was the silver lining to the destructive effects of coronavirus.

In a report, it added that the gains were not guarantees and substantial barriers to widespread digital technology adoption still existed.

With some government support, these could be overcome in the months ahead, allowing significant progress in the government’s goal of overcoming the long-tail of low productivity companies and improving prospects

Read More

Designed using Magazine News Byte. Powered by WordPress.