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Day: September 28, 2020

The report gave Biden, his Democratic opponent, a fresh line of attack and left Trump struggling to defend himself on an issue that has dogged him throughout his presidency.

For Trump, who has fought relentlessly to keep his tax records private, a report showing he had paid $750 in federal income taxes in 2016 and again in 2017 immediately posed a threat to his carefully crafted image as a successful businessman and “America First” patriot. The revelations appeared to take his campaign by surprise, jolting the race just days after Trump announced his choice to fill a Supreme Court vacancy.

“The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent,” Trump wrote on Twitter on Monday, a day after declaring the report “made up” and false. “I paid many millions of dollars

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Josh Boak, Associated Press
Published 5:52 p.m. ET Sept. 27, 2020 | Updated 1:54 p.m. ET Sept. 28, 2020

President Donald Trump paid just $750 in federal income taxes the year he ran for president and in his first year in the White House, according to a report in The New York Times.

Trump, who has fiercely guarded his tax filings and is the only president in modern times not to make them public, paid no federal income taxes in 10 of the past 15 years.

The details of the tax filings published Sunday complicate Trump’s description of himself as a shrewd and patriotic businessman, revealing instead a series of financial losses and income from abroad that could come into conflict with his responsibilities as president. The president’s financial disclosures indicated he earned at least $434.9 million in 2018, but the tax filings reported a $47.4 million loss.

The tax

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Investment Thesis

Headquartered in Pittsburgh, Pennsylvania, F.N.B. Corporation (FNB) is a diversified financial holding company for First National Bank of Pennsylvania. FNB provides a wide range of financial services across the Atlantic seaboard through its 350+ bank branches. FNB has four main reported business segments: (1) Community Banking, (2) Wealth Management, (3) Insurance, and (4) Consumer Finance. With over $37 billion in assets and a leading deposit market share position in multiple MSAs located throughout its six state footprint, FNB is a force to be reckoned with.

While FNB is currently trading at a discount to peers, due to lower capital levels versus peers, I would look toward its sound credit policy and sustainable 7%+ dividend yield for reasons to invest today. FNB has a near sterling credit track record that I think should lead to greater earnings stability through this recession and could regain some of the multiple degradation

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Adds details, quote from Moody’s analyst

JOHANNESBURG, Sept 28 (Reuters)South Africa’s post coronavirus economic recovery will face a number of constraints, with risks of a larger than forecast contraction this year tilted to the upside, ratings firm Moody’s said on Monday.

A recession deepened by the impact of the coronavirus has frustrated economic reform efforts in the country aimed at reducing government debt and attracting foreign investment.

Moody’s rates the country’s debt at sub-investment grade – as do the other two main ratings firms S&P and Fitch – and forecast earlier this month that the South African economy would shrink 6.5% in 2020.

In a virtual conference Moody’s lead analyst for the country, Lucie Villa, said the main concern was the government’s “exit strategy” as it unwound COVID-19 economic support measures and reinstated the fiscal consolidation promised before the pandemic.

Villa said the firm’s next credit review

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Here’s what you need to know:

Credit…Julio Cortez/Associated Press

United Airlines and its pilots’ union reached an agreement Monday that would avert 2,850 job cuts scheduled to begin as soon as Thursday, when federal restrictions on layoffs under a March stimulus law end.

The union’s members agreed to a collective sacrifice to prevent any of United’s 13,000 pilots from being furloughed until June 2021. Under the agreement, some older pilots will also be eligible for buyouts.

As part of the CARES Act that Congress passed in the spring, passenger airlines received $25 billion to pay employees on the condition that they avoid any large cuts until Oct. 1. A union-led effort to renew that funding gained bipartisan support this summer, but remains in

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The supply chain analytics market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. The market has witnessed a positive impact due to the COVID-19 situation. The research analysts at Technavio expects the supply chain analytics market to grow by USD 3.64 billion during the forecast period, accelerating at a CAGR of over 14%.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200928005494/en/

Technavio has announced its latest market research report titled Global Supply Chain Analytics Market 2020-2024 (Graphic: Business Wire)

For the Complete Insights on COVID-19 Pandemic Crisis and Recovery Analysis of the Supply Chain Analytics Market Download free report sample

Supply Chain Analytics Market Segmentation Analysis by End-User

  • Retail

  • Manufacturing

  • Others

Retail segment accounted for the largest supply chain analytics market share. Supply chain analytics help retail service providers minimize logistics management

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NEW YORK/LONDON/HONG KONG (Reuters Breakingviews) – Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.

A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford

LATEST

– Devon Energy/WPX Energy

– ShipBob funding

MIXED M&A ENERGY. The latest merger between two Permian Basin oil drillers contains just about everything investors need as the industry deals with a coronavirus-induced demand shock. Devon Energy Chief Executive David Hager said Monday’s almost $2.6 billion agreed purchase of WPX Energy will be “immediately accretive on virtually every relevant financial metric in year one.” Some $575 million in savings help; those are worth as much as $4.5 billion taxed and capitalized, or some 75% of the combined market value of the two firms on Friday.

The two are

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Let’s start where we usually do on Mondays: last week’s fund flows from ETF.com:

The SPY had a huge outflow of $6.8 billion, more than reversing the inflows from the last two weeks. The IWM (Russell 2000) also lost a large amount of cash. But traders are buying the QQQ’s dip. Finally, there was a large move into the long-bond — a clear safety play.Tech was the big loser, losing $1.35 billion last week. It’s brethren communication services was more fortunate, only seeing a $145 billion outflow. Financials are also losing money. Investors are probably seeing a very poor 3Q20 on the horizon for the banking industry and acting accordingly. Interestingly, consumer staples and health care (two defensive sectors) also had a net outflow. Only four sectors saw inflows. Overall, this is a bearish table.

Is the recovery running out of steam? Last week, a chorus of Federal Reserve

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The three Chinese banks that had dragged Anil Ambani to a UK court will now pursue all available legal avenues to recover the full judgment debt of nearly $717-million from the embattled businessman.

However, legal sources close to Reliance Group said Ambani has made full and fair disclosure of all his assets and liabilities in the UK Court and he personally holds no assets outside India.

Last week, Ambani had appeared before the English High Court for compulsory cross-examination in an order obtained by the three banks — Industrial and Commercial Bank of China, Export-Import Bank of China and China Development Bank — earlier.

The counsel for the banks cross-examined the Chairman of beleaguered telecom company Reliance Communications on his financial means.

“The banks will use the information from the cross-examination to pursue all available legal avenues to protect their rights and recover the outstanding loans owed to them,” a

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SAN JOSE, Calif.–(BUSINESS WIRE)–Calix, Inc. (NYSE:CALX) today announced that the company will post its third quarter 2020 stockholder letter on the Calix Investor Relations website at http://investor-relations.calix.com/ on Tuesday, October 20th at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The release of the third quarter 2020 stockholder letter will be announced over newswire with a link to the stockholder letter available on the investor relations section of calix.com.

Calix will host a conference call to discuss these results the following morning on Wednesday, October 21st at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time).

Interested parties can listen to a live webcast of the conference call by visiting the Calix Investor Relations website at http://investor-relations.calix.com/. The conference call is also available via teleconference by dialing (877) 407-4019 or international (201) 689-8337 with conference ID# 13710735 or participants can also click this link for instant telephone

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