Season Archives - Zxcoachoutlet

Get ready for a good earnings season for big U.S. banks

October 9, 2020

DEEP DIVE

a sign in front of a building: D.A. Davidson senior analyst David Konrad recommends buying shares of Morgan Stanley and J.P. Morgan Chase because of their varied business mixes, strong capital and an expected decline in credit costs.

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D.A. Davidson senior analyst David Konrad recommends buying shares of Morgan Stanley and J.P. Morgan Chase because of their varied business mixes, strong capital and an expected decline in credit costs.

(Updates article with comments from David Konrad of D.A. Davidson about Morgan Stanley’s deal to acquire Eaton Vance and loan-loss provisioning activity.)

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Bank stocks typically drop during recessions. This time around, with the big players well-capitalized, largely free from the worst of loan loss set-asides and benefitting from a rebounding economy, investors may be looking at an opportunity staring them in the face.

And the biggest banks have clear advantages: fees from investment banking and asset management. (Below are tables showing expected and historical provisions for loan losses, non-interest income, earnings per share and analysts’ ratings for the largest dozen U.S. banks.)

The hot space — asset management

Morgan Stanley (MS) has

The IRS says it still hasn’t opened more than 2 million returns this tax season

October 8, 2020

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TAXWATCH

a man wearing a suit and tie: IRS Commissioner Charles Rettig at a House Committee on Oversight and Reform hearing.

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IRS Commissioner Charles Rettig at a House Committee on Oversight and Reform hearing.

The Internal Revenue Service still has to process an estimated 2.5 million hard copy income tax returns within a pile of unopened mail that stands at 5.3 million pieces.

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That’s according to IRS Commissioner Charles Rettig, who testified Wednesday on the agency’s efforts to dig out from a mountain of unopened mail that accumulated during coronavirus-related IRS office shutdowns in the spring.

Rettig spoke to lawmakers, who have been getting an earful about the backlog. “We are hearing from our constituents right and left” about the status of returns and refunds, said Rep. Jody Hice, a Republican from Georgia.

Though there’s still a ways to go, the IRS has come a long way from the spring.

There was a time in the March and April period when the IRS

Sam’s Club Unveils New Plans For Holiday Season; To Hire 2,000 Associates

October 8, 2020

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(RTTNews) – Sam’s Club, a division of Walmart, Inc. (WMT), announced Thursday that it plans to deliver something special throughout the holiday Season. The company is also hiring 2,000 permanent, full-time supply chain associates to support the expected demand amid a busy shopping season.

Sam’s Club would add more days of deals for its members, introduce more newness, more often in clubs and online, and plan unexpected moments that delight shoppers throughout the season.

The decision is based on a survey of its members regarding holiday shopping plans. Among them, 61 percent said they would be shopping more online this year, and 31 percent said they would be shopping earlier than past years.

The company is offering more days for members to save through holiday savings events. October Savings Event has already started from October 4. The other events include November Instant Savings from October 28 to November 29; November

Late freeze shortens fall apple season for Indiana orchards

October 5, 2020

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INDIANAPOLIS (AP) — During what would normally be primetime for Midwest apple-picking, orchards around Indiana are running out of apples early this season following a late spring freeze that obliterated much of the state’s crop.

Statewide temperature drops in late April and early May wreaked havoc on the budding, flowering apple trees unable to withstand the cold. The sub-freezing snaps — which led to severe fruit damage and significant crop loss — impacted roughly 70% of the apple crop, said Peter Hirst, a tree fruit specialist at Purdue University.

“It’s the worst we’ve seen in quite some in decades in Indiana,” Hirst said. “This is really rare for us to have damage as severe as what we’ve seen this year.”

Damage was widespread across Indiana’s orchards, but growers say cold-related damage in neighboring Michigan — the country’s third-largest apple-producing state — was likely limited to crops in the southwest, with

Ghana cocoa regulator signs $1.3 bln finance deal for 2020/21 season

September 29, 2020

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Adds quote, background

ACCRA, Sept 29 (Reuters) – Ghana’s cocoa board (Cocobod) signed on Tuesday a $1.3 billion pre-export finance deal for the 2020/21 cocoa season through a syndicated loan, following reports earlier this year that its usual lenders had declined to underwrite the risk.

A coalition of 28 local and international banks and financial institutions, including ABN Amro ABNd.AS, Standard Chartered STAN.L and Bank of China 601988.SS, were party to the loan, which is repayable in seven months, said Cocobod CEO Joseph Boahen Aidoo at the signing ceremony.

He said Cocobod expected purchases of 900,000 tonnes for the 2020/21 season.

“We never defaulted in repaying the loans since the 1992/1993 crop season when the first one was signed,” Aidoo said, adding last year’s loan was re-paid two months ahead of schedule.

A parliamentary report in August said the loan would carry annual interest of one month

Home insurance pitfalls to avoid during hurricane season – Lifestyle – providencejournal.com

September 26, 2020

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For homeowners in coastal states, the 2020 hurricane season could mean financial disaster. Named storms are rolling in at a record pace, with as many as 25 expected in the Atlantic this season — twice the average number. After battering the Louisiana coast in late August, Hurricane Laura alone may account for as much as $12 billion in insured losses.

Even if you think you’re prepared, you may discover that your homeowners insurance doesn’t fully cover damage from a hurricane. To make sure you’re protected, avoid these four costly pitfalls.

Skipping flood insurance

Flood insurance is optional, and only 15% of American households buy it, says Mark Friedlander, spokesperson for the Insurance Information Institute.

But when a hurricane or storm hits, flooding causes more residential losses than high winds, according to a 2019 report from the U.S. Congressional Budget Office. That means most homeowners, even those with hurricane or wind

New Book Advocates Declaring Your Own Personal Championship Season

May 4, 2020

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In Becoming Your Own Champion, Duane Martinz teaches readers how to achieve success by creating their own rules to play by. His energetic cry is to declare your own championship season and then do whatever works for you to become a champion.

Early in the book, Duane talks about how too many people sarcastically say when asked how they are, that they are “living the dream.” They act like life is a sentence they are serving rather than a gift they can enjoy, and they fail to seek out opportunities to improve their situations and live life on their own terms.

Duane knows the reason that holds most people back is a negative attitude and a failure to believe they can succeed. Rather than focusing on the bad things that happen and using those as our excuses for not moving forward, he suggests: “How about claiming that everything that happens … Read More

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