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Wall Street body proposes new rules on short positions, stock loans
  + stars: | 2021-06-07 | by ( Katanga Johnson | ) www.reuters.com sentiment -0.98   time to read: +2 min
FILE PHOTO: Signage is seen outside of the Financial Industry Regulatory Authority (FINRA) offices in Manhattan, New York City, U.S., September 11, 2020. REUTERS/Andrew KellyWASHINGTON (Reuters) - The Financial Industry Regulatory Authority (FINRA), Wall Street’s self-regulatory body, has proposed changes to its short-interest reporting requirements in a bid to make information more useful. The proposed changes to Rule 4560 would increase the frequency of short-interest reports from twice a month to weekly or even daily. The change would require clearing firms to report synthetic short exposure - bets made against shares via derivatives - in firm and customer accounts. “These potential changes could improve the usefulness of short sale-related information to FINRA, other regulators, investors and other market participants,” FINRA said.
Persons: Andrew Kelly WASHINGTON, ” FINRA, FINRA Organizations: Financial Industry Regulatory Authority, REUTERS, Industry Regulatory Authority, GameStop AMC Entertainment Holdings Inc, U.S . Securities, Exchange Commission, SEC Locations: Manhattan , New York City, U.S
Apple developers look for App Store changes at annual conference
  + stars: | 2021-06-07 | by ( Stephen Nellis | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - Apple Inc Chief Executive Tim Cook and his team address one of their most important audiences on Monday, kicking off an annual conference for app developers at a time the iPhone maker is defending itself in court over its App Store practices. REUTERS/Andrew Kelly//File PhotoThe Apple Worldwide Developers Conference, being held online for the second year because of the pandemic, typically attracts thousands of app developers, many of whom are hoping the company will be listening to their concerns. Apple did not immediately return a Reuters request for comment on the sentiments about its App Store policies. Apple has said its App Store practices grow the market for mobile software by creating an environment for paid apps that consumers trust. Not all developers have negative sentiments, said Ben Bajarin, chief executive at Creative Strategies who has been surveying Apple developers and found more than 90% have no plans to stop making apps for Apple devices.
Persons: Tim Cook, Andrew Kelly, Marco Arment, ” Arment, “ Fortnite, Apple, , , Ben Bajarin, Bajarin Organizations: Reuters, Apple Inc, Apple, REUTERS, Apple Worldwide Developers Conference, gaslight, ” Apple, Creative Locations: Manhattan , New York City, U.S, billings
The Manhattan DA's office convened a "special grand jury" in its Trump investigation last month. Jurors will decide whether to criminally charge Trump, the Trump Organization, or its executives. What does a special grand jury do? It's not clear whether Vance will seek to charge Trump, Trump Organization executives, the company — or not bring charges at all. "If you kill the Trump Organization, basically you kill the Trump family's means and a rather extravagant high-profile and lavish lifestyle."
Persons: Trump, whisking, It'll, Donald Trump's, , Manhattan DA Cyrus Vance Jr, Donald Trump, Vance, MANDEL NGAN, Randy Zelin, Wilk Auslander, Andrew Kelly, what's, vociferously, Allen Weisselberg, Donald Trump Jr, TIMOTHY A, CLARY, Jennifer Weisselberg, Barry Weisselberg, Allen's, Allen, Cyrus R, Vance Jr, Rebecca Ricigliano, who's, It's, Michael Cohen, she's, Jeff McConney, Spencer Platt, He's, Ricigliano, he's, Moring, Zelin, DOMINICK REUTER, Sol Wachtler, Mark F, Pomerantz, Eliot Spitzer, Chris Hondros, isn't, Daniel R, Alonso, Cy Vance, Drew Angerer, Letitia James Organizations: Trump Organization, Manhattan District, Trump, Prosecutors, New, The Washington Post, Manhattan DA, Getty, Wilk, New York, Court, REUTERS, Manhattan, Jeenah, FTI Consulting, ABC News, Crowell, Former New York Supreme, New York Gov, Democrats Locations: Manhattan, United States, New York, AFP, Manhattan , New York City, U.S, Central Park, New York City, New Jersey, Mazers
US May payrolls rise indicates gradual economic recovery
  + stars: | 2021-06-04 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +6 min
REUTERS/Andrew KellyNonfarm payrolls increased by 559,000 last month, the Labor Department said on Friday. MARKET REACTION:STOCKS: S&P e-mini futures slightly extended gains and were up 0.39%, pointing to a higher open on Wall Street. “The number of jobs previously reported in March and April was revised up, that’s a good signal. Not excessively, but they continue to creep up and that’s a red flag for wage inflation down the road. People are gunning for a very fulsome recovery which isn’t quite in the works yet.
Persons: Andrew Kelly Nonfarm payrolls, MICHAEL ARONE, ” SIMON HARVEY, ” GENNADIY GOLDBERG, ” PETER CARDILLO, ” JJ KINAHAN, TD, STEVE RICK, gunning Organizations: YORK, REUTERS, Labor Department, Reuters, STATE, BOSTON, Fed, MONEX, TD AMERITRADE, Stock Locations: Manhattan , New York City , New York, U.S, MONEX EUROPE, CHICAGO, MADISON , WISCONSIN
U.S. CDC director urges teens to get vaccinated after hospitalizations rise
  + stars: | 2021-06-04 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
People ages 12 and older line up for COVID-19 vaccine appointments outside the American Museum of Natural History, in Manhattan, New York City, New York, U.S., May 14, 2021. "I am deeply concerned by the numbers of hospitalized adolescents and saddened to see the number of adolescents who required treatment in intensive care units or mechanical ventilation," CDC Director Rochelle Walensky said in a statement on Friday. The data adds to previous information showing that hospitalizations due to severe COVID-19 occur in all age groups even though they occur more often in older adults. The CDC released the data as part of the United States' push to vaccinate teenagers with Pfizer Inc (PFE.N) and German partner BioNTech SE's (22UAy.DE) vaccine. Nearly 50% of the U.S. population, 12 years and older, has been fully vaccinated, according to the agency's data.
Persons: Caitlin Ochs, Rochelle Walensky, Walensky, BioNTech SE's Organizations: American Museum of, REUTERS, U.S . Centers for Disease Control, CDC, Pfizer Inc, Thomson Locations: Manhattan , New York City , New York, U.S, United States
"Pandemic mindset" persists among global consumers - survey
  + stars: | 2021-05-20 | by ( Mark John | ) www.reuters.com sentiment -0.99   time to read: +2 min
LONDON (Reuters) - People in the world’s leading economies remain overwhelmingly nervous about returning to life as normal, even after having being vaccinated against COVID-19, a survey released on Thursday found. FILE PHOTO: People make their way through Times Square, amid the coronavirus disease (COVID-19) pandemic, in Manhattan, New York City, U.S., May 07, 2021. Concretely, that meant that only 16% felt safe flying commercial airlines, 23% staying in hotels and 28% dining indoors in restaurants. Nearly 7 in 10 (of all respondents) are concerned a new outbreak is around the corner,” the survey commentary concluded. Other polls have shown Indian Prime Minister Narendra Modi’s approval ratings falling to a new low as the country battles the pandemic.
Persons: Eduardo Munoz, Narendra Modi’s, Edelman Organizations: COVID, REUTERS, Indian Locations: Manhattan , New York City, U.S, Brazil, Canada, China, France, Germany, India, Japan, Mexico, Saudi Arabia, South Africa, South Korea, United Arab Emirates, Britain, United States, UAE
Rudy Giuliani's son announces bid for New York governor
  + stars: | 2021-05-18 | by ( ) www.reuters.com sentiment -0.89   time to read: +1 min
Andrew Giuliani, son of Former New York City Mayor Rudy Giuliani, personal attorney to U.S. President Donald Trump, addresses the media outside Rudy Giuliani's apartment in Manhattan, New York City, New York, U.S. April 28, 2021. REUTERS/Andrew KellyAndrew Giuliani, the son of embattled former New York City Mayor Rudy Giuliani, plans to run for governor of New York in 2022, he said in a televised announcement on Tuesday. Giuliani said he would not "run away" from his affiliation with former U.S. President Donald Trump. Rudy Giuliani's business dealings with Ukrainian oligarchs while he was working as Trump's personal lawyer are the subject of a probe by federal prosecutors in Manhattan. Andrew Giuliani defended his father on Tuesday, calling the investigation of the elder Giuliani's Ukraine dealings the result of a politicized U.S. Justice Department.
Persons: Andrew Giuliani, Rudy Giuliani, Donald Trump, Rudy Giuliani's, Andrew Kelly Andrew Giuliani, Giuliani, Trump Organizations: Former New York City, REUTERS, New, New York City, FOX, U.S, Justice Department, Thomson Locations: Manhattan , New York City , New York, U.S, New York, York, Florida, Texas, Tennessee, Manhattan . Federal, Ukraine
FILE PHOTO: A waiter fills a glass in the Mediterranean seafood restaurant Estiatorio Milos at the Hudson Yards as restaurants resumed indoor dining at 25 percent capacity due to the coronavirus disease (COVID-19) in Manhattan, New York City, U.S., September 30, 2020. REUTERS/Andrew Kelly(Reuters) - The service sector in the New York region saw business activity rise at a “record-setting pace” in early May, according to a survey of business leaders released by the Federal Reserve Bank of New York on Tuesday. The survey’s headline business activity index, which covers businesses in New York, New Jersey and southwestern Connecticut, increased by nine points to 38.8. Optimism for the future also surged, with the index for future business activity and future employment both reaching record highs of 67.8 and 51.8, respectively.
Persons: Milos, Andrew Kelly Organizations: Hudson, REUTERS, Reuters, Federal Reserve Bank of New Locations: Manhattan , New York City, U.S, New York, Federal Reserve Bank of New York, New York , New Jersey, Connecticut
U.S. weekly deaths from COVID fall to lowest in 14 months
  + stars: | 2021-05-17 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Caitlin Ochs/File PhotoU.S. deaths from COVID-19 last week fell to their lowest in nearly 14 months and the number of new cases continued to decline for a fifth week in a row, according to a Reuters analysis of state and county data. Deaths for the week ended May 16 totaled 4,165, the lowest weekly death toll since March 2020, when the country reported 2,293 deaths. On average about 600 people died from COVID each day, down from a peak of over 3,000 deaths per day for most of January. (Graphic on vaccinations)New cases of COVID-19 fell 20% last week to 233,000, the lowest since June, according to the Reuters analysis. Nationwide, the average number of COVID-19 patients in hospitals fell 12%, the fourth weekly drop in a row.
Persons: Jane Hassebroek, Caitlin Ochs Organizations: American Museum of, REUTERS, U.S . Centers for Disease Control, Michigan, Nationwide, Thomson Locations: Manhattan , New York City , New York, U.S, COVID, . New Hampshire, Vermont, Massachusetts, Alabama, Colorado, New Jersey , Oklahoma, California
Go maskless? Some Americans wary of new guidelines
  + stars: | 2021-05-14 | by ( ) www.reuters.com + 0.00   time to read: +5 min
"I'm nervous about it," said Allison Douma, 24, out walking her dogs in Washington, D.C., and wearing a mask. She was fully vaccinated last month. Another food chain, Trader Joe's, said it would immediately drop its mask mandate for customers who are fully vaccinated. In many parts of the United States, people have not been wearing masks for months. The looser mask guidance does not apply to certain situations such as public transportation and prisons.
Persons: Shannon Stapleton, warily, Allison Douma, I'm, Maggie Cantrick, Joe's, Andy Shallal, Busboys, Joe Biden, Biden, Rochelle Walensky, you've, Anthony Fauci, Scott Gottlieb, Ahmad Erfani Organizations: Centers for Disease Control, Prevention, REUTERS, WASHINGTON, U.S . Centers for Disease Control, Washington , D.C, ., Kroger, University of Southern, University of Southern California Dornsife Center for Economic, Social Research, Democratic, White, MSNBC, Food and Drug Administration, Pfizer, CNBC, Thomson Locations: Manhattan , New York City, U.S, COVID, Washington ,, New York City, United States, Miami, University of Southern California, Washington
Palantir allows payments in bitcoin, mulls investing in cryptocurrencies
  + stars: | 2021-05-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.86   time to read: +2 min
REUTERS/Andrew Kelly(Reuters) - Palantir Technologies Inc, a Peter Thiel-backed U.S. analytics company, said on Tuesday it had started accepting bitcoin as payment from customers and was also considering investing in cryptocurrencies. This comes as the world’s biggest cyrptocurrency continues to gain acceptance across Wall Street with companies like Tesla Inc allowing customers to buy vehicles with bitcoin. The electric-car maker also bought $1.5 billion worth of bitcoin earlier this year, propelling its prices to record highs. The company’s revenue rose 49% to $341.2 million in the first quarter, above estimates of $332.23 million, according to IBES data from Refinitiv. Excluding items, the company earned a profit of 4 cents per share in line with analysts’ expectations.
Persons: Andrew Kelly, Peter Thiel, Thiel, Donald Trump Organizations: Palantir Technologies, New York Stock Exchange, REUTERS, Reuters, Palantir Technologies Inc, Tesla Inc, Refinitiv, U.S . Central Intelligence Agency Locations: Manhattan , New York City, U.S, cryptocurrencies
Palantir to take bitcoin as payment, mulls betting on cryptocurrencies
  + stars: | 2021-05-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) -Palantir Technologies Inc has started accepting payment in bitcoin and is considering investing in cryptocurrencies, the U.S. analytics provider disclosed, the latest firm to pivot to digital currencies that are gaining wider mainstream acceptance. FILE PHOTO: People walk by a banner featuring the logo of Palantir Technologies (PLTR) at the New York Stock Exchange (NYSE) on the day of their initial public offering (IPO) in Manhattan, New York City, U.S., September 30, 2020. REUTERS/Andrew KellyShares of the company rose 7% on Tuesday following the announcement, reversing a 9% slide in premarket trading amid a wider tech rout. Co-founded in 2003 by billionaire Peter Thiel, Palantir is known mainly for its work with U.S. government defense and intelligence agencies including the Central Intelligence Agency. The stock hit a peak of $45 on Jan. 27, fueled by its mention on Reddit forum WallStreetBets.
Persons: Andrew Kelly, Peter Thiel, Palantir Organizations: Reuters, Palantir Technologies Inc, Palantir Technologies, New York Stock Exchange, REUTERS, Central Intelligence Agency, Revenue Locations: bitcoin, cryptocurrencies, U.S, Manhattan , New York City, Refinitiv
Palantir quarterly revenue beats estimates on more government contracts
  + stars: | 2021-05-11 | by ( ) www.reuters.com sentiment -0.97   time to read: +1 min
People walk by a banner featuring the logo of Palantir Technologies (PLTR) at the New York Stock Exchange (NYSE) on the day of their initial public offering (IPO) in Manhattan, New York City, U.S., September 30, 2020. REUTERS/Andrew KellyTech billionaire Peter Thiel-backed firm Palantir Technologies Inc (PLTR.N) on Tuesday beat quarterly sales estimates as the U.S. data analytics firm clinched more software contracts from businesses and government organizations across the world. Palantir said U.S. governmental revenue grew 83% in the first quarter from a year earlier, while revenue from commercial customers in the United States grew 72%. The company's net loss widened to $123.5 million in the quarter ended March 31 from $54.3 million a year earlier. Revenue rose 49% to $341.2 million, above estimates of $332.23 million, according to IBES data from Refinitiv.
Persons: Andrew Kelly, Peter Thiel, Palantir Organizations: Palantir Technologies, New York Stock Exchange, REUTERS, Andrew Kelly Tech, U.S . Central Intelligence Agency, CIA, Revenue, Thomson Locations: Manhattan , New York City, U.S, United States, Refinitiv
New U.S. COVID weekly cases fall to lowest since September
  + stars: | 2021-05-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Deaths from COVID-19 fell 1.3% to 4,756 in the week ended May 9, the fewest deaths in a week since July. (Graphic on vaccinations)Only seven out of 50 states reported week-over-week increases in new cases, mostly rising by less than 10%. Michigan still led the nation in new cases per capita, though that was down 23% from the previous week, according to the Reuters analysis. New cases also fell in Puerto Rico and Colorado, the areas with the next highest rates of infection based on population. The average number of COVID-19 patients in hospitals fell 9%, the second weekly drop in a row.
Persons: Eduardo Munoz, Biden Organizations: REUTERS, U.S . Centers for Disease Control, Thomson Locations: Manhattan , New York City, U.S, United States, COVID, Michigan, Puerto Rico, Colorado, Oklahoma , California, Mississippi
Those associations have made it harder for some people to take off their masks, despite the developing scientific guidance. College students Emmanuel Long and AJ Barber, both 19 and fully vaccinated, wore masks this week while visiting the Lincoln Memorial. "You feel naked if you don't go outside with a mask on," Barber said. "I respect your right right now to follow the CDC and not wear a mask outdoors," she said. But this week he felt empowered to go maskless while playing tennis at a D.C. park.
Persons: Shannon Stapleton, Anita Glick, Glick, Emmanuel Long, AJ Barber, Long, Barber, Andrew Nussbaum, Washington . Nussbaum, Vivi Smith, Smith, Donald Trump, Erin Lobato, Lobato, Tobias Krahnke, I'm Organizations: Centers for Disease Control, Prevention, REUTERS, U.S, COVID, College, Lincoln Memorial, CDC, Trump, Thomson Locations: Manhattan , New York City, U.S, United States, Great Falls , Virginia, Washington, Great Falls, City
Simon Property Group Q1 2021 earnings release: after market; conference call: 5 p.m. Andrew Kelly | ReutersaPalantir Technologies Q1 2021 earnings release: before market; conference call: 8 a.m. Vizio Q1 2021 earnings release: after market: conference call: 4:30 p.m. Wednesday: Wendy's, Bumble and GrowGenerationWendy's Q1 2021 earnings release: before market; conference call: 8:30 a.m. ROBYN BECK | AFP | Getty ImagesAlibaba Q4 2021 earnings release: before market; conference call: 7:30 a.m.
Persons: CNBC's Jim Cramer, Tyson, Roblox Tyson, Cramer, Expedia, haven't, Andrew Kelly, Reutersa, It's, Bumble, ROBYN BECK, Disney's, they've Organizations: TSN, Tyson Foods, Marriott International, Simon Property Group, Occidental Petroleum, Roblox, Marriott, Simon Property, Palantir Technologies, New York Stock Exchange, Disney, Anaheim Convention Center, AFP, Getty, Fed Locations: Manhattan , New York City, U.S, Anaheim, Anaheim , California, China
"42 inches high and it just feels right," he said, referring to the standard height of a bar. But on Monday, New York lifted a ban on bar seating, one of a raft of coronavirus curtailments imposed last March, allowing patrons to resume a hallowed New York drinking tradition. By itself, the addition of bar seating is not likely to turn around the fortunes of the city's beleaguered hospitality industry. More than 1,000 restaurants and bars have closed in New York City since the March 2020 lockdowns, according to industry website Eater New York. "It's a pretty big deal," said Zak Snyder, general manager of the pub, estimating that bar seating generated 20% to 30% of its alcohol sales before the March lockdowns.
Persons: Andrew Kelly Matt Friedlander, Dylan Thomas, Norman Mailer, James Baldwin, curtailments, Anya Paul, Tim Hermans, Paul, Andrew Cuomo, Zak Snyder, Shane Buggy, Bill de Blasio, Lon Devitt, Devitt, Racines, Abraham Lincoln Organizations: REUTERS, Budweiser, Yorker, Monday New York, White, Thomson Locations: Manhattan , New York City , New York, U.S, New York City, West, , New York, York, East Village, Lower Manhattan, McSorley's, Florida
Capital Calls: Europe IPOs get a qualified tech boost
  + stars: | 2021-04-22 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A person types on a laptop computer in Manhattan, New York City, U.S., September 11, 2020. Hot IPO candidates giving the UK a wide berth may want to look again. It’s not all good news for the jittery IPO market. That could potentially put a spanner in a mooted $11 billion IPO . Given the volatile performance of recent European listings , it may be no bad thing.
Persons: decamped, carping, techies, Trustly, Christopher Thompson Organizations: bourse Locations: Manhattan , New York City, U.S, London, Cambridge, United States, It’s, Swedish, Canberra, Beijing
(Reuters) -A federal appeals court ruled on Tuesday that Ohio can enforce a 2017 law banning abortions when medical tests show that a fetus has Down syndrome. Tuesday’s decision reversed a 6th Circuit panel ruling in October 2019. The 2-1 panel said the law, House Bill 214, should not be enforced because it prevented some women from obtaining lawful pre-viability abortions. “This abortion ban inserts politicians between patients and their doctors, denying services to those who need it,” Planned Parenthood president Alexis McGill Johnson said. Circuit Court of Appeals, No.
Persons: George Glazer, Andrew Kelly, Bill, Alexis McGill Johnson, Dave Yost, Alice Batchelder, Bernice Bouie Donald, Wade Organizations: Reuters, George, REUTERS, U.S, Circuit, Republican, 6th U.S Locations: Ohio, Manhattan , New York City, U.S, Cincinnati, destigmatizing, Roe, Cleveland, 6th
Apple backs wide emissions disclosure rules from U.S. regulators
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: A person walks past a security fence erected around the Apple Fifth Avenue store as votes continue to be counted following the 2020 U.S. presidential election, in Manhattan, New York City, U.S., November 5, 2020. REUTERS/Andrew KellyBOSTON (Reuters) - Apple Inc on Tuesday called for the U.S. Securities and Exchange Commission to require companies to disclose emissions including from their “value chain,” according to a Tweet from Apple Vice President Lisa Jackson.
Persons: Andrew Kelly BOSTON, Lisa Jackson Organizations: Apple, REUTERS, Apple Inc, U.S . Securities, Exchange Commission Locations: Manhattan , New York City, U.S
Beware the strategy of buying unprofitable tech stocks, Bernstein warns
  + stars: | 2021-04-13 | by ( Thomas Franck | ) www.cnbc.com sentiment -1.00   time to read: +1 min
Unprofitable tech companies in the U.S. have been outperforming recently, but they could pose a threat to investors hoping to beat the broader market's return. Widely followed Bernstein tech analyst Toni Sacconaghi sounded the warning Monday, telling clients that the unusually high percentage of income-less tech companies could catch some investors off guard in the coming months. Bernstein analyzed unprofitable stocks over the last 50 years. The firm found that unprofitable tech names can keep pace, if not slightly outperform, the broader market while growth stocks are in favor. But that can quickly deteriorate, the analyst wrote, if investors' tastes change or a company fails to generate income for multiple years.
Persons: Bernstein, Toni Sacconaghi Organizations: Palantir Technologies, New York Stock Exchange Locations: Manhattan , New York City, U.S
A person types on a laptop computer in Manhattan, New York City, U.S., September 11, 2020. A Swedish fintech startup is the latest to cash in on the digital payments boom. Chief Executive Oscar Berglund says the company will sell shares worth 8 billion Swedish crowns (785 million euros), part of which will be used to redeem preference shares and repay debt. Revenue last year grew 40% to 2 billion Swedish crowns. With ever more companies offering investors a way to play the online payments frenzy, the IPO will serve as the latest test of fintech investors’ appetite.
Persons: Trustly, Oscar Berglund, Karen Kwok Organizations: LONDON, Reuters, Mastercard, Visa, Revenue Locations: Manhattan , New York City, U.S, Swedish, BlackRock, Sweden
Instead of catching a few minutes of mingling with your guests, the Zoom party removes distractions (if you can get over seeing yourself), leaving each of us face to face in our “Brady Bunch” boxes. My birthday party was particularly well-suited to Zoom. In the past year, we’ve held a Zoom candlelighting with extended family every Friday night to mark the Jewish Sabbath. No one dreams of a Zoom wedding or retirement party, of course. But as these occasions have gone virtual over the past year, we have discovered the miracle of time travel.
Persons: I’ve, ­­, gingerly, giddy, Brady, we’ve, it’s, he’s, It’s Organizations: Washington , D.C, Boston ­­ Locations: It’s, Washington ,, Seattle, Atlanta, Boston, Manhattan , New York City, Bahrain, New Orleans, Virginia, New York
Ron Insana: This is why higher taxes won't incite a bear market
  + stars: | 2021-04-08 | by ( Ron Insana | ) www.cnbc.com + 0.00   time to read: +3 min
The Wall Street Bull (The Charging Bull) is seen during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020. In my study of market history, not a singular secular bear market was initiated by raising taxes on either corporations or individuals. There were tax hikes in the 1980s and 1990s that did absolutely nothing to halt the raging bull markets that defined both decades. Bush's broken pledge not to raise taxes was not the proximal cause for a bear market that lasted from mid-1989 to October 1990. Higher marginal tax rates were not a cause of that decline in stocks, or in any other bear market that we know of.
Persons: Tayfun, Joan Rivers, Biden, Stan Druckenmiller, George H.W, Trump Organizations: Anadolu Agency, Getty, Federal, RJR Nabisco Locations: Lower Manhattan , New York City, United States
REUTERS/Andrew KellyWASHINGTON (Reuters) - U.S. bankruptcies surged in March to the highest level in a year, driven by a 41% jump in month-to-month filings by consumers, data firm Epiq AACER reported on Monday. Overall commercial filings also increased, though the Chapter 11 bankruptcy used by larger companies fell, the firm said. U.S. bankruptcies had declined through much of the pandemic year, a fact Epiq AACER officials suspected was just a delay in filings due to the flow of fiscal support to consumers or even courthouse closures during the peak of the pandemic. All noncommercial filings increased by nearly 12,000 in March to just over 41,000, the company reported. With vaccines being distributed and the economy recovering, bankruptcies may also return closer to the pre-pandemic trend, said Epiq AACER Senior Vice President Chris Kruse.
Persons: Andrew Kelly WASHINGTON, Epiq AACER, Chris Kruse, , Epiq’s, Deirdre O’Connor Organizations: REUTERS Locations: Manhattan , New York City, U.S
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