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These FTSE 100 Shares Are About To Update The Market. Should You Buy Them Today?

October 10, 2020
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Barclays Bank branch seen in central London...

SOPA Images/LightRocket via Getty Images

These UK shares are set to release fresh financial details over the next couple of weeks. Is now the time to buy in? Or should you give them a very wide berth?

Barclays

Imminent third-quarter financials from FTSE 100 banking colossus Barclays are bound to attract plenty of attention. This is a reflection of the blue chip’s standing in its own right as well as its role as a barometer of the health of the British economy. And I have to tell you that I’m not too optimistic over what they’ll show.

UK banks have already been forced to suck up gigantic impairments resulting from the Covid-19 crisis. Barclays itself announced it had booked £3.7bn worth of credit impairments in its half-year trading update in July. Profits at the bank sunk to £1.3bn between January and June from £3bn a year earlier, too. I fear

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RBI appeals to Supreme Court to allow NPA classification

October 10, 2020
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MUMBAI (Reuters) – The Reserve Bank of India has appealed to the country’s top court to let banks classify loans as nonperforming, saying a ban imposed to help borrowers in the COVID-19 pandemic could greatly harm the nation’s financial system.

FILE PHOTO: A security guard’s reflection is seen next to the logo of the Reserve Bank Of India (RBI) at the RBI headquarters in Mumbai, India, June 6, 2019. REUTERS/Francis Mascarenhas/File Photo

The central bank, in a filing to the Supreme Court late on Friday, warned that failure to immediately lift an interim stay on banks classifying any loan as a non-performing asset (NPA) would also undermine the central bank’s regulatory mandate.

The court granted the stay last month, responding to a plea filed by an Indian optician, later joined by a wide range of borrowers whose income or revenue was hit by the COVID-19 pandemic.

The court is set

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ExxonMobil Loses $225 Billion In Market Cap Against Chevron

October 10, 2020
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Chevron Reports $8.3 Billion Loss For Second Quarter

NOVATO, CALIFORNIA – JULY 31: A sign is posted in front of a Chevron gas station on July 31, 2020 in … [+] Novato, California. Chevron Corp reported a $8.27 billion loss in second quarter earnings compared to $4.3 billion in revenues one year ago. (Photo by Justin Sullivan/Getty Images)

Getty Images

Twice over the past two weeks, ExxonMobil
XOM
has made headlines for all the wrong reasons.

Last week the utility NextEra Energy
NEE
surpassed the market capitalization of ExxonMobil to replace it as the largest U.S. energy company.

This week, there was another milestone. At some points over the past decade, ExxonMobil — the biggest of “Big Oil” in the U.S. — was worth as much as $225 billion more than Chevron
CVX
. That size advantage totally disappeared on October 8, 2020, when Chevron’s value closed the day higher than ExxonMobil’s.

If you look at the chart,

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She bootstrapped her company after facing bias. Now she’s helping other entrepreneurs do the same.

October 10, 2020
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This story originally ran on CNBC.com

Melissa Bradley’s mission to help women and people of color build their businesses stems from the hardships she faced as a young entrepreneur.

The 52-year-old, co-founder of the mentorship tech platform Ureeka and a Georgetown University professor, started her first company shortly after she graduated from college 30 years ago. The business’s mission was to provide financial literacy services to parents.

Bradley says that when she went to a government agency for a loan, she was told she had three strikes against her: She was Black, she was a woman and the person said she didn’t know any successful Black women in finance.

Bradley, who recently participated in the Ewing Marion Kauffman Foundation and CNBC + Acorns Invest in You’s “Rebuilding Better: A Virtual Town Hall for America’s Small & New Business Owners,” still managed to get her company off the ground. “I bootstrapped,”

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Analysis: U.S. Bank Stocks Are Fine, if You Are Rich in Patience | Investing News

October 10, 2020
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(Reuters) – The U.S. bank sector has been pummeled this year but investors hunting for bargains there may need deep reserves of patience as banks are particularly sensitive to low interest rates, the uneven economic recovery and the muddy stimulus outlook.

The S&P 500 Bank subsector , which kicks off its third-quarter earnings season on Oct. 13, was last down 33.7% for the year-to-date compared with a 5.8% gain for the S&P 500 index.

Banks have been such a drag on the broader S&P financial index that its 19% year-to-date decline is second only to energy’s 49.9% drop among the S&P 11 major sectors.

To be sure, if lawmakers in Washington manage to reach an agreement, a new fiscal stimulus package could help banks if it boosts U.S. loan growth, interest rates and economic activity.

And the bank index is up 12% from its intraday trough on Sept. 2 to

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EU Climate Change Latest News: Green Stimulus for CO2 Emissions from Buildings

October 10, 2020
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The business district in Brussels, Belgium. 

The business district in Brussels, Belgium. 

Photographer: Jasper Juinen/Bloomberg

Photographer: Jasper Juinen/Bloomberg

The European Union wants to at least double the pace of renovation of homes and offices over the coming decade in a bid to save more energy and meet stricter climate goals under a sweeping green overhaul.

The Renovation Wave strategy, to be unveiled by the European Commission on Wednesday, will outline steps needed to accelerate upgrades of more than 200 million existing buildings — including insulation and change of heating equipment — at a cost of nearly 300 billion euros ($355 billion) per year, according to draft EU documents seen by Bloomberg News.

Explore dynamic updates of the earth’s key data points

Buildings account for more than a third of EU greenhouse-gas emissions, and improving their energy efficiency is a prerequisite for Europe to meet its Green Deal goal of becoming the world’s first climate-neutral continent by

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RBI Said to Urge Court to Not Consider More Relief for Borrowers

October 10, 2020
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People shop at stores in Noida, Uttar Pradesh. 

People shop at stores in Noida, Uttar Pradesh. 

Photographer: Prashanth Vishwanathan/Bloomberg 

Photographer: Prashanth Vishwanathan/Bloomberg 

India’s central bank and the federal government have urged the nation’s Supreme Court to reject pleas by borrowers to extend a loan repayment holiday, according to people familiar with the filing.

The Reserve Bank of India and the government filed their written views on Friday following an order by the court, saying the measures announced so far to increase liquidity and lower borrowing costs are having a positive impact on the economy, the people said, asking not to be identified because the filings aren’t public.

A RBI spokesperson didn’t immediately respond to a message seeking comment. Finance Ministry spokesman Rajesh Malhotra declined to comment, saying the matter is under consideration by the court.

Earlier this year, the central bank allowed lenders to freeze loan repayments through Aug. 31 to limit the impact of the coronavirus pandemic

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US weekly jobless claims remain high at 840,000

October 10, 2020
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WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000, evidence that job cuts remain elevated seven months into the pandemic recession.

The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks over a new rescue aid package that economists say is urgently needed for millions of unemployed Americans and struggling businesses. A failure to enact another round of government aid would crimp household income and spending, and some economists say it would raise the risk of a double-dip recession.

Thursday’s report from the Labor Department said the number of people who are continuing to receive unemployment benefits dropped 1 million to 11 million. The decline suggests that many of the unemployed are being recalled to their old jobs. But it also reflects the fact that some have used up the 26 weeks of their

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S&P 500 Weekly Update: Dow Transports And Small Caps Lead This Leg Of The Rally

October 10, 2020
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“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side.” – Jesse Livermore

Anyone who follows the equity market realizes that they are faced with what I described last week as a foggy outlook in the near term. When that occurs, I try not to get swayed and then sidetracked into forgetting the long-term trends that are in place.

An investor has to be reactionary waiting for the market to give them clues, then reacting appropriately. I take my leads from price action, momentum, sentiment, and other indicators. All designed for me to decipher what the market is telling me. Never drifting too far from the one key that serves as the foundation of my current strategy. That is staying focused on the major trend that is in place, and that remains without question in favor

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Red Sox Owner to Take Fenway Sports Public Through Merger With RedBall: Source | Top News

October 10, 2020
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(Reuters) – Boston Red Sox owner John Henry is in talks with RedBall Acquisition Corp to take his famed sports holding company Fenway Sports Group LLC public, a person familiar with the matter told Reuters late on Friday.

The deal being discussed would merge Fenway Sports Group with RedBall Acquisition Corp and will value the owner of the Liverpool Football Club at around $8 billion including debt, the source said, asking not to be identified.

The talks were reported earlier by the Wall Street Journal newspaper, which said the discussions are in the early stage and could still fall apart.

The newspaper also said RedBall, which raised $575 million in August to buy businesses in sports and sports-related media and data analytics, plans to raise an additional $1 billion to buy a stake in Fenway Sports Group that will not exceed 25%.

RedBall, a special purpose acquisition company (SPAC), is

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