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Trump: Favor-seekers benefit after spending big at his businesses: NYT

October 11, 2020

Individuals, foreign governments, and lobbyists are spending big at Trump’s resorts and hotels and gaining from his administration, a New York Times investigation found.
It found that 60 individuals had spent $12 million in Trump’s businesses and, in some form, saw their interests advanced by his administration.
Trump won the election in 2016 pledging to “drain the swamp,” but is profiting from favor-seekers patronizing his hotels and resorts.
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More than 200 foreign governments, lobbying groups, and individuals spent money in President Donald Trump’s businesses and benefitted from his administration, a New York Times investigation found.

It documents how foreign government officials, corporate executives, lobbyists, and attorneys patronized Trump businesses and were awarded lucrative federal contracts, ambassadorship, and appointments to federal task forces. Others secured legal changes. For some, the favor granted by the president was a tweet.

According to the Times investigation, 60

Low interest rates benefit some but carry risks for the ecconomy

October 3, 2020

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That’s not easy when the safe investments that pension funds usually rely on are paying less than 1 percent, a consequence of low interest rates.

CalPERS, the nation’s largest public pension plan, fell short of its goal in the fiscal year that ended June 30. Now, along with embracing riskier investments like private equity, Bienvenue is gambling on making low rates work for him, by borrowing billions of dollars in hopes of juicing the pension plan’s returns.

“We have to take more risk in some places,” he said. “…Systemically low interest rates, the net effect makes the challenge more difficult.”

CalPERS’ shift is just one example of how an era of persistently low interest rates has rippled across the economy, altering incentives while benefiting some groups and hurting others.

Consumers have snapped up 0% percent auto loans and mortgages at sub-3 percent rates. That’s helped the economy by driving sales

U.S. Personal Income Falls After Federal Jobless Benefit Expires

October 1, 2020

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Americans’ incomes fell in August by the most in three months after the government’s supplemental unemployment benefits expired, threatening to temper consumer spending that increased during the month.

The 2.7% decrease in personal income followed an upwardly revised 0.5% gain a month earlier, according to Commerce Department data released Thursday. The median forecast in a Bloomberg survey of economists called for a 2.5% drop in August. Consumer spending on goods and services increased 1% from the prior month after a downwardly revised 1.5% gain in July.

Absence of supplemental jobless payments filters through to less spending growth

The decline in income highlights the impact of the expiration of the extra $600 in weekly jobless benefits at the end of July, which had temporarily propped up household finances and helped spur consumption. While President Donald Trump in early August announced an additional $300 a week in federal jobless benefits, many states didn’t get those funds out until early September, and the benefit

Here are two stocks that stand to benefit from California’s electric-vehicle push

September 26, 2020

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California is aiming to ban sales of new gas-powered vehicles by 2035, and Morgan Stanley has two stock picks for those willing to play a long game.

One is, of course, Tesla Inc. (TSLA) the electric-car maker based in California. The other “best positioned on this announcement” is Aptiv PLC (APTV) the global auto-parts company based in Dublin, Ireland, Morgan Stanley said.

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Morgan Stanley’s analyst Adam Jonas said in a note Thursday he’d expect Tesla post “Battery Day” to “embark upon a campaign to find support from state and national governments world-wide to adopt his industrial battery capacity plans.” Tesla held the event on Tuesday.

Don’t miss: Tesla’s Battery Day was ‘long on vision and boldness,’ short on here-and-now

Aptiv “has a leading (and potentially dominating) position in electric-vehicle architecture” and safety features, Morgan Stanley said in note earlier this month.

Shares of Aptiv

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