(Bloomberg) — Chinese financial markets will trade for the first time this month on Friday and for once, investors can look forward to a relaxed start.

The yuan is up 0.7% in offshore trading since its onshore counterpart last traded on Sept. 30, signaling more gains are ahead after the currency’s best quarter since 2008 versus the dollar. Eyes will be on how the People’s Bank of China responds with its 9:15 a.m. yuan fixing. It has recently allowed for a stronger currency, while at times acting to limit volatility.

FTSE China A50 Index futures have risen 2.2% since the $9.4 trillion mainland stock market last traded. The Hang Seng China Enterprises Index, a gauge of mainland companies listed in Hong Kong, has gained 2.4% in that time.



chart: Offshore yuan has gained 0.7% since the onshore market closed for holidays


© Bloomberg
Offshore yuan has gained 0.7% since the onshore market closed for holidays

Also, a large maturity scheduled for Friday shouldn’t

Read More

SpaceX is preparing to launch four NASA astronauts on its Crew Dragon spaceship this Halloween — the first of six crewed missions the space agency has contracted from the rocket company founded by Elon Musk. (The one that concluded in August was considered a demonstration.)

That’s on top of the cargo resupply missions that SpaceX will regularly launch to the International Space Station for NASA. The company has been sending a spaceship designed to carry supplies, called Cargo Dragon, to the orbiting laboratory since 2012. That vehicle has made over 20 trips to the station and back.

Combined, the two types of Dragon spacecraft are scheduled to launch into space seven times over the next 14 months.

Spacex crew dragon launch

SpaceX’s Crew Dragon spaceship launches from NASA’s Kennedy Space Center with a “Starman” dummy aboard on March 2, 2019.

NASA TV


“Every time there’s a Dragon launch, there’ll be two Dragons in space,”

Read More

After months of remote learning, working from home, and missing out on all the places you planned to visit this year, it’s time for a break. Luckily, fall break is just around the corner.

This year, everyone could use a vacation — but you’re not the only one who could benefit from it. Many local small businesses that rely on tourism are feeling the pinch from the pandemic and they need your support.

Camille Johnson Taylor, the executive director of the Kane County Office of Tourism, says tourists are the lifeblood of their communities.

“We are one of the most tourism-dependent economies in the state so the COVID-19 restrictions disproportionately hit Kanab/Kane County’s economy,” Taylor says. “By supporting our local businesses, customers are protecting the heritage of many local families and the community.”

This year, as you’re planning your fall break getaway, consider giving back to the community by taking

Read More

Consumer Confidence

The index for consumer confidence surged by the most in 17 years in September, rising from 86.3 to 101.8, but we have to put this improvement in perspective. This gauge was at 132.6 in February before the pandemic. I’m surprised we are seeing any improvement given the end of enhanced unemployment benefits, continued job losses and recent increase in virus cases. My suspicion is that these factors are weighing on sentiment in October.

Pending Homes Sales

Home sales continued to soar on the coattails of mortgage rates that are below 3%. The index of pending home sales rose 8.8% in August and was up 24.2% over the past year. This is clearly making up for the collapse in sales during March, April and May, but it is still a very robust number recovering to pre-pandemic levels. We should not expect this rate of improvement to continue in the

Read More

The money, which came in the form of a tax refund, helped Antero maintain its lucrative cash dividend payments to investors despite a year of economic upheaval. At the end of April, Antero chief executive Paul Rady and President Glen C. Warren Jr. announced the tax windfall and assured investors that “we’re in good shape, and we feel good about it.” Days later, the pair sold $114.8 million of Antero stock, according to Securities and Exchange Commission filings. Last month, Rady sold an additional $46.4 million.

Antero Midstream, a $2.5 billion company, is one of at least 133 corporations that received help this year from the little-noticed provision of the Cares Act. By the end of June, the companies reported receiving more than $5 billion in Cares Act refunds, according to the newsletter Tax Notes. And while the bill did not say anything explicit about a fossil fuel bailout, as

Read More

In an effort to relieve small businesses suffering during the pandemic, the San Jose City Council has unanimously agreed to expand a tax break even though it will cost the city $1 million.

The tax, which business owners pay annually to receive a license, ranges from $203 to as high as $163,745 depending on the number of workers the business employs.

For example, a sole proprietorship with only one employee would pay the base tax of $203 while a business with 20 employees pays $792. A business with 100 employees would pay more than $4,000 annually.


San Jose already has had a business tax exemption for sole proprietors earning less than twice the federal poverty level, or $25,520, in revenues. Now, the city will no longer consider the number of workers a business employs and will only look at revenue and income to determine eligibility. The exemption takes effect Oct.

Read More

In the wake of the many changes this year has brought, companies are moving toward making more of their supplier payments electronically.

It’s a welcome thing. Check payments have dwindled in consumer life, but across U.S. industries, nearly half of all supplier payments are still made by check. As accounts payable departments went into work from home mode, it became difficult to cut checks. They rushed to set suppliers up for ACH payments, skipping over what might be a better opportunity: paying them by virtual card.

Not every supplier accepts virtual cards, however. Before you set your suppliers up for ACH, you should at least ask about cards—there are compelling benefits for both buyers and suppliers with that option. For suppliers, getting paid by card is the fastest way to get their money in the bank. On the buyer’s side, virtual cards are the most secure payment method, and they

Read More

PepsiCo  (PEP) – Get Report has done well this week, jumping more than 3% as investors gear up for earnings.

The company will report its quarterly results on Thursday before the stock market opens. The stock has reclaimed and held several key levels this week.

However, PepsiCo is among the group of stocks that’s been unable to make new highs amid this run. While the S&P 500 has hit new highs, PepsiCo remains stubbornly below resistance.

On the plus side, it’s handily beating its biggest peer, Coca-Cola  (KO) – Get Report.

For the year, PepsiCo has risen 1%, besting Coca-Cola’s 11% decline. While the two have similar performances over the last six months, PepsiCo is just 6.2% off its highs vs. down 18% for Coca-Cola.

The stock’s reaction was relatively muted to its last earnings beat, but bulls are hoping to get more of PepsiCo

Read More

It takes hard work, determination, and talent to achieve startup success, but getting an early break from a major business leader like Lord Alan Sugar can be a real game changer, as entrepreneur Ross Testa, founder of video and social media agency 3 Heads Agency discovered.

At school, Testa had no idea where his future career lay. While his friends pursued predictable routes into law, medicine, and journalism, he admits that his plans were non-existent. Everything changed when, aged 18, he decided to organize a charity week at school to raise money for the Teenage Cancer Trust after one of his closest friends, Ellis Haggith, was diagnosed with leukemia.

He says: “I was determined to make it a success, and it was: the campaign raised just under £5,000 in one week. We had support from a lot of businesses and celebrities, and the experience made

Read More

    

Business owners earning at least $1 million got more than one-third of a break for small businesses in the first year of President Donald Trump’s tax overhaul.

Small business owners claimed qualifying deductions on almost $150 billion of income in 2018, according to Internal Revenue Service data released Tuesday. About 35% of that, or just under $53 billion, was claimed by owners reporting at least $1 million in income for the year. Those earning less than $100,000 got just 11% of the tax benefits.

Trump and Republican leaders had said that middle-class Americans and small businesses would be the biggest beneficiaries of the $1.5 trillion tax overhaul, which included a reduction for regular corporate income as well.

The tax break for so-called pass-through businesses applied to a wide swath of firms, from mom-and-pop convenience stores to private equity funds. The 20% deduction can cut the amount of income subject to

Read More