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(Bloomberg) — MicroStrategy Inc. boosted the size of a junk-bond sale to fund the purchase of more Bitcoin, selling $500 million of notes on Tuesday that were the first of their kind in the high-yield market. The company received about $1.6 billion in orders for the offering, including interest from a large number of hedge funds, according to people with knowledge of the marketing process, who asked not to be identified discussing a private transaction. The strong interest comes amid a… Source link

(Bloomberg) — Oil resumed its rally to top $70 a barrel in New York as investors grew more confident that accelerating vaccinations and easing travel restrictions will continue to boost demand. West Texas Intermediate futures surpassed the $70 mark to close at its highest since Oct. 2018 after briefly touching the key psychological level earlier this week. U.S. oil supplies fell 2.11 million barrels last week, the American Petroleum Institute was said to report. That would be the third… Source link

Both organizers of a Memorial Day ceremony in Hudson, Ohio, have now resigned under pressure after they silenced a retired U.S. Army officer’s microphone while he was talking about how freed Black slaves honored fallen soldiers just after the Civil War. Video Transcript BARNARD KEMTER: 3,000 African-American schoolchildren singing the Union marching song, “John Brown’s Body.” They were carrying armfuls of flowers and went to decorate the graves. Interesting that there would be a tie back to… Source link

(Adds Lordstown’s comment, details about cash) June 8 (Reuters) – Electric truck maker Lordstown Motors Corp expressed doubts about its ability to continue as a going concern, the company said in a regulatory filing on Tuesday, sending its shares down more than 20%. (https://bit.ly/3w4iOlG) “We believe that our current level of cash and cash equivalents are not sufficient to fund commercial scale production and the launch of sale of such vehicles,” Lordstown said. Lordstown reported a net loss… Source link

Five years after being selected with the No. 4 pick in the MLB draft, Riley Pint has retired. Colorado Rockies assistant general manager Zach Wilson announced the news on Tuesday. The Rockies drafted Wilson out of high school in 2016, and he played five seasons in the franchise’s minor league system. Big fastball and control issues Pint tantalized scouts in high school with a 102 mph fastball and a plus arsenal of secondary pitches, but never advanced past the Class A level with the Rockies. He… Source link

Nike (NKE) has celebrated Pride Month with its “Be True” collection since 2012. In 2021, the tradition continues with both the Swoosh brand and Converse with colorful new footwear to celebrate the LGBTQIA+ community. The Pride Chuck 70s is part of the Converse All-Stars “Show Love Without Barriers” collection. The off-white shoe features rainbow graphics designed by Xandro Miguell. Converse officials tell Yahoo Finance that the print explores the duality of struggle and joy and the… Source link

Cancelling $50,000 in federally-backed student loan debt for American borrowers would actually help lower-income debtors far more than rich ones, according to a new research brief. The study by the Roosevelt Institute, a left-leaning think tank based in New York City, came to the conclusion as other academics argue that eliminating debt for millions of borrowers would instead disproportionately benefit high-income borrowers. “We made a policy mistake, in terms of placing the funding of higher… Source link

WASHINGTON — Just three weeks ago, Great Britain celebrated the success of its vaccination campaign by lifting many coronavirus-related restrictions. “Goodbye, lockdown,” one headline said. But since then, a more transmissible new strain of the coronavirus has taken hold, imperiling plans to fully reopen the country on June 21. Public health officials in the United States are now grappling with the possibility that a similar regression could take place here and, just as in the U.K.,… Source link

You can’t say “Mr. Wonderful” didn’t warn you. Shark Tank host Kevin O’Leary was among the first in the investment community to sound the alarm on bitcoin’s sustainability concerns, when he stressed as much, during an interview with Yahoo Finance at the beginning of May. Two weeks later, Elon Musk announced Tesla was reversing its stance on accepting the crypto as a form of payment, citing the same sustainability issues, sparking a 35% collapse in bitcoin’s price for the month. But… Source link

There is probably a lot of trash in the speculative boom currently taking hold of markets. But hidden amid the meme stocks, SPACs, and crypto coins could be some valuable businesses. “Somewhere in the hundreds of SPACs and scores of meme stocks are some decent companies and potentially even a few huge opportunities,” DataTrek’s Nicholas Colas wrote in a note this week. “For example: Hertz, which was supposed to be a retail investor graveyard, actually exited bankruptcy with its equity… Source link