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Tag: Hard

Here’s how money managers can influence what happens to stocks in this hard hit, unloved sector

October 13, 2020
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OUTSIDE THE BOX



a truck driving down a dirt road


© Getty Images


A long-awaited stock-market rotation back to value stocks might benefit oil and gas companies in the short-term, but long-term there are concerns about the sustainability of the energy industry as it now exists. The sector’s woes are such that at the end of August 2020, energy stocks accounted for just 2.6% of the S&P 500 (SPX) , down from more than 16% in 2008. 

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The systemic risk surrounding energy companies due to climate change underscores the difference in approach between active managers and their index-fund counterparts and large retirement funds, as well as the tools active managers can use to make a persuasive case for meaningful change. While active fund managers increasingly are avoiding the energy sector and its risk of permanent capital impairment, many passive-fund investors recognize that as universal owners of the market and, by default, the economy, they have

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Slower growth in August could signal a hard winter

October 9, 2020
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UK economic growth slowed in August despite an easing of lockdown restrictions and government subsidies for dining in restaurants, suggesting that Britain’s recovery was stalling even before a second wave of coronavirus arrived.



a group of people sitting at a bar: ABERDEEN, SCOTLAND - AUGUST 05: Kieth McKenzie wears a shielding face mask as he works in the pub The Grill in Union Street on August 5, 2020 in Aberdeen, Scotland. Scotland's First Minister Nicola Sturgeon acted swiftly and put Aberdeen back into lockdown after cases of Coronavirus in the city doubled in a day to 54. She ordered all indoor and outdoor hospitality venues to close by 5pm. (Photo by Jeff J Mitchell/Getty Images)


© Jeff J Mitchell/Getty Images
ABERDEEN, SCOTLAND – AUGUST 05: Kieth McKenzie wears a shielding face mask as he works in the pub The Grill in Union Street on August 5, 2020 in Aberdeen, Scotland. Scotland’s First Minister Nicola Sturgeon acted swiftly and put Aberdeen back into lockdown after cases of Coronavirus in the city doubled in a day to 54. She ordered all indoor and outdoor hospitality venues to close by 5pm. (Photo by Jeff J Mitchell/Getty Images)

The Office for National Statistics said in a statement Friday that the UK economy grew by 2.1% in August. The consensus expectation among economists was for a 4.6% increase, according to Capital Economics.

It was the fourth

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Why do we find it so hard to talk about money?

October 9, 2020
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I don’t know about you, but my love of podcasts has intensified under lockdown.

The perfect antidote to hours spent glued to a screen while “living at work”, I would much rather pick up a pair of headphones than the TV remote — and judging by the soaring popularity of podcasts, I am not alone.

I’m often asked about my favourite financial shows. At the start of the pandemic, one of the most effective investment management tools I found was The Boring Talks, a BBC podcast. With episodes devoted to the wonders of coal holes, jigsaws, oboe reeds and teletext, it has nothing to do with money. Yet listening to this took my mind off soaring infection rates and plunging stock markets as I resolved to stick to my long-term investment strategy.

I’ve presented the FT Money Show podcast for five years, but under lockdown, our shiny new studio in

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‘It is really hard to imagine anything more cruel’

October 8, 2020
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Cook County Board President Toni Preckwinkle made it clear on Wednesday: There is no Plan B for the hundreds of thousands of her constituents who risk losing health insurance should Republicans in Washington succeed in repealing the Affordable Care Act.



Toni Preckwinkle looking at the camera: Cook County Board President Toni Preckwinkle speaks on the impact of a potential repeal of the Affordable Care Act during a news conference at Cook County Health in Chicago on Oct. 7, 2020.


© Antonio Perez / Chicago Tribune/Chicago Tribune/TNS
Cook County Board President Toni Preckwinkle speaks on the impact of a potential repeal of the Affordable Care Act during a news conference at Cook County Health in Chicago on Oct. 7, 2020.

She warned of a possibly cataclysmic blowback within Cook County’s public hospital system that runs a massive insurance program made possible by the ACA, also known as Obamacare. Without it, there is no backup for many of the 370,000 low-income enrollees who have come to rely on the county’s largest Medicaid managed care plan to access health care, she said.

“Here’s the bottom line: The repeal of the ACA

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Dow drops 370, Trump says ‘stop negotiating’ stimulus, airlines hit hard

October 6, 2020
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Stocks close near session lows

The market was unable to erase its sharp fall during the final hour of trading and finished near session lows. The Dow lost 378 points, or 1.3%. The S&P 500 fell 1.4%, and the Nasdaq shed 1.6%. — Jesse Pound

Trump tweets spark 600-point drop

President Trump’s tweets about stopping the stimulus negotiations triggered a drop in the Dow of roughly 600 points and a sharp reversal in the other major indexes. The S&P 500 fell from roughly 3,430 to about 3,356. — Jesse Pound, Nate Rattner

Pelosi says Trump is ‘putting himself first at the expense of the country’

House Speaker Nancy Pelosi slammed President Donald Trump’s decision to call off coronavirus relief talks, saying he’s “unwilling to crush the virus” and is “putting himself first at the expense of the country.”

“Today, once again, President Trump showed his true colors: putting himself first

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World economy faces long, hard climb out of pandemic, IMF chief says

October 6, 2020
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WASHINGTON (Reuters) – The global economy is in “less dire” shape than it was in June but risks crashing again if governments end fiscal and monetary support too soon, fail to control the coronavirus and ignore emerging market debt problems, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday.

FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks during a closing news conference for the International Monetary Finance Committee (IMFC), during the IMF and World Bank’s 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler/File Photo

Georgieva told an online London School of Economics event that the IMF will make a small upward revision to its global economic output forecasts next week, adding: “My key message is this: The global economy is coming back from the depths of this crisis.”

“But this calamity is far from over. All

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Zimbabwe finance minister says COVID-19 won’t hit economy as hard as elsewhere

October 5, 2020
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HARARE, Oct 5 (Reuters) – Zimbabwe’s finance minister said on Monday the economy would not be as severely impacted by the COVID-19 pandemic as initially feared and foreign currency inflows had shown resilience.

The southern African nation was already grappling with runaway inflation, shortages of drugs in hospitals and strikes by public workers before the novel coronavirus arrived in March.

“I am more bullish again even during this COVID-19 moment, I think the economy will surprise us on the upside,” Finance minister Mthuli said during an online media conference.

“Our prognosis is that the impact of COVID-19 overall on Zimbabwe is not as deep as in other countries,” Ncube said but declined to give details or a new economic growth forecast.

Ncube had said during a mid-term budget statement in July that the economy was set to shrink by 4.5% this year owing to the fallout from the pandemic.

Ncube

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When Zero-Carbon Nuclear Asks For Money, States Find It Hard To Say No

October 2, 2020
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The Exelon Byron Nuclear Generating Station

The Byron nuclear power plant, in Byron, Illinois, is one of two plants that Exelon says it will … [+] close in about one year unless Illinois changes its clean energy support scheme.

AFP via Getty Images

The press release created instant shock waves. On August 27th, Exelon Corporation, one of the biggest suppliers of electricity in the U.S., announced that in a year it would close two nuclear plants in Illinois that together produce four gigawatts of power, even though the plants are licensed to operate for decades more. The two plants — Byron and Dresden — “face revenue shortfalls in the hundreds of millions of dollars,” Chicago-based Exelon said.

State and local officials denounced the move as reckless saber-rattling. Not only would the plants’ closure cost thousands of good jobs, it would also jeopardize Illinois’ clean energy ambitions.

Yet Exelon’s announcement, far from unprecedented, is part of a

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Sachem Capital: Good Times For Hard Money (NYSEMKT:SACH)

October 2, 2020
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Renters are taking advantage of lower interest rates to become first-time home buyers, creating a housing boom:

Real estate has now become popular. Real estate listings are moving quickly. And this is quite different from what we were seeing in December and January of 2020. Yes, we are seeing a migration from the cities. We are seeing people take advantage of the low interest rates. Once again housing is becoming affordable.

– John Villano, CEO and CFO, Sachem Capital, in the latest earnings call

Sachem Capital (SACH) has been in a position to benefit from the new popularity. The company reported a 41% increase in revenue despite the pressures of COVID-19. Net income increased from $0.06 per share to $0.10.

Business

Sachem is in the business of hard money lending, a business that is not as ominous and foreboding as it may sound. A hard money loan is simply

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Why PepsiCo is choosing energy drinks over hard seltzer

October 1, 2020
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  • PepsiCo is focused “100%” on its strategy in energy drinks, CEO Ramon Laguarta said on the company’s earnings call Thursday in response to a question about whether it would follow Coca-Cola into hard seltzer.
  • Laguarta indicated that hard seltzer is one of “a lot of opportunities in front of us,” and that energy drinks offer more long-term potential while hard seltzer could be a shorter-lived trend.
  • The comments show how PepsiCo and rival Coca-Cola are taking different paths during the pandemic, capitalizing on two distinct categories that have both been in-demand.
  • Visit Business Insider’s homepage for more stories.

Pepsi and Coke spent years fighting each other over cola. Lately, though, the two have been taking different paths when it comes to selling beverages to pandemic-weary consumers.

Coca-Cola jumped into hard seltzer on Tuesday, announcing a partnership with Molson Coors that will bring an alcoholic version of its Topo Chico hard

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