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As the Biden administration pitches its $2 trillion infrastructure proposal and the corporate tax hike that would fund it, Commerce Secretary Gina Raimondo has become the team’s unofficial CEO whisperer. Raimondo, a former Rhode Island governor who previously worked in venture capital, says she’s talked to “dozens and dozens of CEOs” about the proposal to raise the corporate tax rate from 21% to 28%. She says when all is said and done, corporate America might not be as universally… Source link

Home sales fell for the third straight month this year as home prices continue to rise at a record pace. Existing home sales fell 2.7% to a seasonally adjusted 5.58 million in April, from a month earlier, according to the National Association of Realtors (NAR). The results missed analyst expectations of a 1% gain, according to Bloomberg consensus. April sales activity was up 33.9% from the same month a year earlier when the nation was under a lockdown due to the coronavirus pandemic. Compared… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, May 21, 2021 Retail and crypto are dominating market interest The year isn’t even half over yet, but it’s already been a memorable 2021 for market watchers.  The GameStop (GME) and meme stock drama, the latest bull cycle in cryptocurrencies, and Elon Musk tweeting have all created off-the-wall storylines that keep getting refreshed.  And… Source link

Bloomberg Inflation Bets Mount on Fear That Brazil Won’t Hike Rates Enough (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Brazil’s inflation expectations are going the wrong way as investors fear the central bank won’t be bold enough to rein prices in.Traders are piling into inflation-linked bonds, seeking protection from an expected acceleration in prices, as officials stick to their guidance that they will pause the… Source link

Bloomberg Owl Rock, Dyal Create Asset Behemoth With SPAC Merger (Bloomberg) — Investing giants Owl Rock Capital and Dyal Capital Partners completed their merger after clearing legal hurdles, with stock of the newly combined behemoth initially jumping as much as 11% on its first day.Now known as Blue Owl Capital Inc., the company counted $52.5 billion in assets under management as of March 31, and 91% of the sum is permanent capital, according to a Thursday statement.Blue Owl is the… Source link

The Guardian After 20 years of insults, Kwame Brown proved revenge is best served flaming hot The former No 1 overall pick in the NBA draft has been ridiculed for years as a bust. This week, in hours of YouTube rants, he set the record straight Kwame Brown talks to Kobe Bryant during his time with the Lakers in 2006. Photograph: Andrew D Bernstein/NBAE/Getty Images Before the NFL’s JaMarcus Russell there was the NBA’s Kwame Brown. Like the former Raiders quarterback, Brown was a top draft… Source link

By Jonathan Stempel (Reuters) – McDonald’s Corp was sued on Thursday for at least $10 billion by two companies owned by media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising enough with Black-owned media outlets. The complaint filed in Los Angeles County Superior Court said McDonald’s violated federal and state civil rights laws through its “racial animus and racial stereotyping” in allocating ad dollars. According to the complaint,… Source link

TipRanks Billionaire Ray Dalio Pulls the Trigger on 3 “Strong Buy” Stocks There are experts out there in the stock market whose investing moves command respect. They’ve earned this through the long-term cultivation of a reputation for true savvy in finding solid returns – and few of these experts have the stature of billionaire financier Ray Dalio. Dalio got his start trading commodity futures on Wall Street, and in 1975 he founded Bridgewater Associates from his New York City… Source link

Turns out Yermín Mercedes won’t be the only person punished in the aftermath of this season’s biggest unwritten rules controversy. Minnesota Twins reliever Tyler Duffey was suspended three games and fined an undisclosed amount for intentionally throwing behind the White Sox rookie in Tuesday’s game, the league announced Thursday. Twins manager Rocco Baldelli was also suspended one game and fined for the pitch. Duffey is appealing the discipline, so he won’t serve the suspension now, but… Source link

(Bloomberg) — Apple Inc. injected a new level of intrigue in its bitter court fight with Epic Games Inc., suggesting the Fortnite maker was acting as a stalking horse for Microsoft Corp. and withholding evidence. The iPhone maker made the accusations Wednesday night in a filing asking a judge to make an adverse credibility finding against Lori Wright, an Xbox executive who testified in the trial on behalf of Epic. That would mean the judge could ignore her testimony. Apple asked for such a… Source link