Tag Archives: Investment

The U.S. housing market was a bright spot during most of the COVID-19 pandemic, but it didn’t get any help from international buyers, many of whom couldn’t even travel to the U.S. The dollar volume of existing-home purchases by foreign buyers for the 12-month period ending March 2021 fell 27% to $54.4 billion, while the number of homes bought by foreigners fell 31% to 107,000 units, according to a new report by the National Association of Realtors (NAR) released Monday. The dollar volume… Source link

Goldman Sachs (GS) reported second-quarter earnings results on Tuesday that far exceeded Wall Street’s expectations, driven by strength in investment banking. Here were the key figures versus expectations:  Adjusted earnings per share (EPS): $15.02 per share vs. $10.15 estimate Revenue: $15.39 billion vs. $12.43 billion estimate Goldman’s investment banking business posted its second-best quarter ever with $3.61 billion, following a record first quarter. Revenue from investment banking… Source link

The founders of South Africa-based crypto investment firm AfriCrypt have disappeared along with 69,000 bitcoins — worth an estimated $3.6 billion — according to a report from Bloomberg on Wednesday. In mid-April, AfriCrypt’s investors were sent an email claiming that the platform was shutting down and freezing all accounts following a hack that compromised client accounts, wallets, and nodes. Investors were reportedly asked not to report the hack to law enforcement, which the founders… Source link

By Michael Martina WASHINGTON, June 3 (Reuters) – The Biden administration will issue a new executive order on Thursday that bans U.S. entities from buying or selling publicly traded securities for 59 Chinese companies with alleged ties to defense or surveillance technology sectors, senior administration officials said. The Treasury Department will enforce and update on a “rolling basis” the new ban list, which replaces one from the Department of Defense, the officials, noting the policy would… Source link

Bloomberg Merkel’s Twilight Months Cloud German Crisis Rebound: Eco Week (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.The Germany economy is enduring a moment of flux as it tries to shake off the coronavirus crisis, just as the era of Chancellor Angela Merkel draws to a close.In just four months on Wednesday, voters will choose a new government in an election that augurs a turning point as she leaves a political void after 13… Source link

Bloomberg Big Oil’s Secret World of Trading (Bloomberg Markets) — It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes alike had watched helplessly for months as the commodity that was their lifeblood tumbled to prices that had until recently seemed unthinkable. Below $50 a barrel, then below $40, then below $30.But inside the central London headquarters of one of the… Source link

Google isn’t ready to give up on the traditional workplace just yet: The massive tech company has just announced plans to spend over $7 billion this year on offices and data centers across the U.S. “Coming together in person to collaborate and build community is core to Google’s culture, and it will continue to be an important part of our future,” CEO Sundar Pichai said in a recent blog post. “So we continue to make significant investments in our offices around the country.” The… Source link

MOUNTAIN VIEW — Google will “double down” on California by investing more than $1 billion in properties and development projects statewide, including several in the Bay Area, the search giant said Thursday. “A lasting economic recovery will come from local communities, and the people and small businesses that give them life,” said Sundar Pichai, chief executive officer of Google and its owner, tech titan Alphabet. “Google wants to be a part of that recovery.” Mountain… Source link

Bloomberg As IMF Talks Bog Down, Argentine Bonds Plunge Toward 30 Cents (Bloomberg) — Six months after Argentina exited default, its new bonds have sunk to a mere 30 cents on the dollar.The depressed price is, in fairness, partly the result of the basic mechanics of the securities — they carry artificially low interest rates and a generous grace period — but it also reflects a grim reality that’s setting in on creditors: The IMF deal that the country desperately needs is a long ways… Source link

Bloomberg Haunted by 2008, China and U.S. Diverge on Stimulus Plans (Bloomberg) — The U.S. and China are pursuing divergent economic policies in the aftermath of the coronavirus recession in a role reversal from last time the world economy was recovering from a shock.One of the takeaways from the annual National People’s Congress under way in Beijing is a conservative growth goal, with a tighter fiscal-deficit target and restrained monetary settings. That’s a big contrast with Washington,… Source link