The Malaysian government has agreed to a $3.9bn settlement with Goldman Sachs over losses suffered from a multibillion-dollar scandal at the country’s 1MDB investment fund. The settlement, which was reached on Friday, includes a cash payment of $2.5bn to the Malaysian government as well as a Goldman guarantee that Kuala Lumpur will receive at least
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In its second major refunding deal in 10 days, Dallas-Fort Worth International Airport again achieved net present value savings of 27% on tax-exempt bonds, officials said. “We were very pleased with this pricing,” airport chief financial officer Christopher Poinsatte said of Thursday’s current refunding of $482.8 million of revenue bonds. “We knew our initial price
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China has announced the closure of the US consulate in Chengdu, just days after Washington gave Beijing 72 hours to vacate its Houston consulate.  Tensions between the world’s two superpowers have risen to their most dangerous level in decades as the coronavirus pandemic rages through the US and Beijing cracks down on Hong Kong’s autonomy.
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Republican Senator Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors. ”I’m not going to be endorsing,” Romney told reporters Thursday. “I will be voting against it.” Shelton, an informal adviser to President Donald Trump’s campaign in 2016, is nominated
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CNBC’s Jim Cramer on Thursday praised Tesla CEO Elon Musk for building a company that promises to be much more than just electric vehicles. “This man is selling technology, and he’s talking about fully assisted and then he’s talking about driverless. He’s thinking so much bigger,” Cramer said on “Squawk on the Street.” ”He’s a big thinker.
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Check out the companies making headlines after the bell:  Intel — Intel’s stock dropped 8% in extended trading after the company offered disappointing third-quarter guidance. Intel released its second quarter earnings, beating predictions of analysts surveyed by Refinitiv. The company reported second-quarter earnings of $1.23 per share excluding some items on revenues of $19.73 billion compared
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getty As U.S. Senate Majority Leader Mitch McConnell readies to unveil today the Senate proposal for the next coronavirus aid package, assembled together with the White House, the renewal of key policies credited with keeping renters and homeowners afloat during the pandemic remains uncertain. Many discussions on Capitol Hill have focused on the merits of
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The White House and Republican congressional leaders have reached a deal on a new package of stimulus measures to aid the US economy, but are facing a backlash from rank-and-file members of their party that could complicate prospects for a final agreement in Congress. Republican opposition has been building over the course of the week,
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People walk past a TD Bank in Brooklyn, New York. Drew Angerer | Getty Images Earnings keep coming in, and while some high-profile companies are continuing to refuse providing guidance, many are making very interesting comments about the state of their industries. Here’s a few: Stock trading really strong. A solid report from TD Ameritrade.
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Pedestrians wearing protective masks walk past a Microsoft Technology Center in New York, on Wednesday, July 22, 2020. Jeenah Moon | Bloomberg via Getty Images Check out the companies making headlines after the bell:  Microsoft — Shares of Microsoft dropped 2% in after hours after the company’s fourth-quarter earnings beat estimates. The technology company reported earnings
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Thesis Summary The Communication Services Select Sector SPDR ETF (XLC) tracks the performance of the market-cap-weighted index of US telecommunication and media & entertainment components. I believe now is an excellent time to buy the fund. I expect it to continue to perform well in the economic downturn that is being predicted. Overall, it is
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Cryptocurrencies may render some outdated regulations obsolete, according to crypto-anarchist and white hat hacker Pavol Luptak. According to Luptak, “cryptocurrencies or crypto markets may undermine government laws and regulations that are obsolete for the 21st digital century.”  He said, “I can say the Space Age technology will help us to escape from the Bronze Age
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Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines after the bell:  Snap — The social media company’s stock fell 5% in extended trading after itreleased its second-quarter financial results. The company reported a loss of 9 cents per share, in line with Refinitiv analysts’ estimate, and revenues of $454 million, compared to analysts’
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Kevin O’Leary told CNBC on Tuesday the U.S. government should not establish more relief programs for businesses impacted by the coronavirus and instead allow market forces decide which companies survive.  “As a result of the pandemic and people’s changes in purchase behavior, there is a new America emerging and the only way to feel that out
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