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U.S. advisers to decide how to distribute vaccine
  + stars: | 2020-11-29 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +11 min
SEE NEW POSTSU.S. advisers to decide how to distribute vaccine ATLANTA — A panel of U.S. advisers are set to meet Tuesday to vote on how scarce, initial supplies of a COVID-19 vaccine will be given out once one has been approved. Pfizer and its German partner BioNTech have asked the FDA to allow emergency use of its COVID-19 vaccine candidate. David Michaels, PhD, MPH: An epidemiologist and Professor of Environmental andOccupational Health at the Milken Institute School of Public Health, George Washington University. Much of his research focuses on protecting the integrity of the science underpinning public health, safety, and environmental protections. The first doses of Pfizer's Covid-19 vaccine are on the move.
Persons: BioNTech, Jared Polis, Marlon Reis, Polis, Breed, San Francisco —, Biden, Jane Hopkins, David Michaels, Jill Jim, Hopkins, Clinton, Michaels, COVID, Benjamin Tandre, Kiran Ridley, Remi Thor Organizations: CDC, Pfizer, FDA, Moderna Inc, Colorado, San Francisco 49ers, Levi's, Public Health, NFL, Mayor London Breed, Saturday, San Francisco, Health, San, Navajo, Harborview Medical, Snoqualmie Hospital, SEIU Healthcare, Advisory, Washington Workforce Board, Washington State Labor Council, SEIU Washington State AFRAM Caucus, Navajo Nation, Navajo Nation Department of Health, Indians, Alaska Natives, Lizer Administration, Navajo Department of Health, Environmental, Milken Institute School of Public Health, George Washington University, Labor, Occupational Safety, Energy, Environment, Safety, NBA, The Associated Press, Preseason, National Basketball Players Association, NBC News, United Airlines, Wall Street Journal, Federal Aviation Administration, FAA, Getty, Reuters Locations: ATLANTA, Colorado, California, Santa Clara County , California, Silicon Valley, Francisco, Los Angeles, Santa Clara, San Francisco, California's, Los Angeles County, San, San Diego, San Jose, Navajo Nation's, RNMH, England, Seattle, Washington, Sierra Leone, Alaska, Navajo, U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan, France, Paris
Small businesses fight for survival during pandemic
  + stars: | 2020-11-29 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +10 min
County health officials also reported a record 760 new Covid-19 cases and 239 hospitalizations. David Michaels, PhD, MPH: An epidemiologist and Professor of Environmental andOccupational Health at the Milken Institute School of Public Health, George Washington University. Much of his research focuses on protecting the integrity of the science underpinning public health, safety, and environmental protections. Share this -Pfizer's first Covid-19 vaccine doses flown to U.S. The first doses of Pfizer's Covid-19 vaccine are on the move.
Persons: Jared Polis, Marlon Reis, Polis, Breed, San Francisco —, Biden, Jane Hopkins, David Michaels, Jill Jim, Hopkins, Clinton, Michaels, COVID, BioNTech, Benjamin Tandre, Kiran Ridley, Remi Thor Organizations: Colorado, San Francisco 49ers, Levi's, Public Health, NFL, Mayor London Breed, Saturday, San Francisco, Health, San, Navajo, Harborview Medical, Snoqualmie Hospital, SEIU Healthcare, Advisory, Washington Workforce Board, Washington State Labor Council, SEIU Washington State AFRAM Caucus, Navajo Nation, Navajo Nation Department of Health, Indians, Alaska Natives, Lizer Administration, Navajo Department of Health, Environmental, Milken Institute School of Public Health, George Washington University, Labor, Occupational Safety, Energy, Environment, Safety, NBA, The Associated Press, Preseason, National Basketball Players Association, NBC News, United Airlines, Wall Street Journal, Pfizer, Federal Aviation Administration, FAA, Getty, Reuters Locations: Colorado, California, Santa Clara County , California, Silicon Valley, Francisco, Los Angeles, Santa Clara, San Francisco, California's, Los Angeles County, San, San Diego, San Jose, Navajo Nation's, RNMH, England, Seattle, Washington, Sierra Leone, Alaska, Navajo, U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan, France, Paris
Colorado Gov. Jared Polis and his partner test positive for virus
  + stars: | 2020-11-29 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +11 min
Jared Polis announced Saturday night that he and his partner, Marlon Reis, have tested positive for coronavirus. County health officials also reported a record 760 new Covid-19 cases and 239 hospitalizations. David Michaels, PhD, MPH: An epidemiologist and Professor of Environmental andOccupational Health at the Milken Institute School of Public Health, George Washington University. Much of his research focuses on protecting the integrity of the science underpinning public health, safety, and environmental protections. The first doses of Pfizer's Covid-19 vaccine are on the move.
Persons: Jared Polis, Marlon Reis, Polis, Breed, San Francisco —, Biden, Jane Hopkins, David Michaels, Jill Jim, Hopkins, Clinton, Michaels, COVID, BioNTech, Benjamin Tandre, Kiran Ridley, Remi Thor, TOLGA AKMEN, Stuart Bell Organizations: Colorado, San Francisco 49ers, Levi's, Public Health, NFL, Mayor London Breed, Saturday, San Francisco, Health, San, Navajo, Harborview Medical, Snoqualmie Hospital, SEIU Healthcare, Advisory, Washington Workforce Board, Washington State Labor Council, SEIU Washington State AFRAM Caucus, Navajo Nation, Navajo Nation Department of Health, Indians, Alaska Natives, Lizer Administration, Navajo Department of Health, Environmental, Milken Institute School of Public Health, George Washington University, Labor, Occupational Safety, Energy, Environment, Safety, NBA, The Associated Press, Preseason, National Basketball Players Association, NBC News, United Airlines, Wall Street Journal, Pfizer, Federal Aviation Administration, FAA, Getty, Reuters, Police, Getty Images Police, Covid Locations: Colorado, California, Santa Clara County , California, Silicon Valley, Francisco, Los Angeles, Santa Clara, San Francisco, California's, Los Angeles County, San, San Diego, San Jose, Navajo Nation's, RNMH, England, Seattle, Washington, Sierra Leone, Alaska, Navajo, U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan, France, Paris, London, AFP, United Kingdom
Another California county issues stricter stay-at-home orders
  + stars: | 2020-11-29 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +11 min
SEE NEW POSTSAnother California county issues stricter stay-at-home orders Public health officials in Santa Clara County, California, home to Silicon Valley, followed San Francisco and Los Angeles on Saturday in announcing stricter stay-at-home rules as the number of coronavirus patients continues to rise nationwide. County health officials also reported a record 760 new Covid-19 cases and 239 hospitalizations. The county also said travelers from more than 150 miles away would have to quarantine for 14 days upon arrival. Share this -Pfizer's first Covid-19 vaccine doses flown to U.S. The first doses of Pfizer's Covid-19 vaccine are on the move.
Persons: Breed, San Francisco —, Biden, Jane Hopkins, David Michaels, Jill Jim, Hopkins, Clinton, Michaels, COVID, BioNTech, Benjamin Tandre, Kiran Ridley, Remi Thor, TOLGA AKMEN, Stuart Bell Organizations: San Francisco 49ers, Levi's, Public Health, NFL, Mayor London Breed, Saturday, San Francisco, Health, San, Navajo, Harborview Medical, Snoqualmie Hospital, SEIU Healthcare, Advisory, Washington Workforce Board, Washington State Labor Council, SEIU Washington State AFRAM Caucus, Navajo Nation, Navajo Nation Department of Health, Indians, Alaska Natives, Lizer Administration, Navajo Department of Health, Environmental, Milken Institute School of Public Health, George Washington University, Labor, Occupational Safety, Energy, Environment, Safety, NBA, The Associated Press, Preseason, National Basketball Players Association, NBC News, United Airlines, Wall Street Journal, Pfizer, Federal Aviation Administration, FAA, Getty, Reuters, Police, Getty Images Police, Covid Locations: California, Santa Clara County , California, Silicon Valley, Francisco, Los Angeles, Santa Clara, San Francisco, California's, Los Angeles County, San, San Diego, San Jose, Navajo Nation's, RNMH, England, Seattle, Washington, Sierra Leone, Alaska, Navajo, U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan, France, Paris, London, AFP, United Kingdom, BRUSSELS
The idea that "stocks only go up" has caught on with a good number of younger investors to the alarm of Peter Cecchini, a former Wall Street chief market strategist. Cecchini also pointed out holes in the mainstream bull narratives on inflation and a COVID-19 vaccine. "Equity markets have devolved into casinos," said Peter Cecchini, the founder and CEO of AlphaOmega Advisors, and former chief market strategist at Cantor Fitzgerald. Additionally, he doubts that companies will be productive enough to raise wages, thereby constricting an important ingredient that is needed for the inflation Wall Street is betting on. Cecchini is not convinced that a vaccine will end the pandemic as quickly as Wall Street wants.
Persons: Peter Cecchini, today's, Cecchini, Xers, Cantor Fitzgerald, they're, Anthony Fauci Organizations: Wall Street, Equity, AlphaOmega Advisors, Dow Jones Industrial, Democratic, Bloomberg, Investors, Pfizer, Moderna Locations:
The Week in Business: Wall Street Is Thankful
  + stars: | 2020-11-29 | by ( Charlotte Cowles | ) www.nytimes.com + 0.00   time to read: +3 min
The Holidays, DeliveredThe holiday shopping season is officially in full swing — and has been for weeks already, from people’s couches. As the pandemic has pushed more people to do their shopping online, retailers are adjusting their business models and encouraging customers to place orders earlier if they want their stuff on time. And Amazon has recruited 100,000 temporary workers for the holiday season, on top of the more than 427,300 workers it hired from January to October this year. Analysts are expecting online holiday spending to surge by over 35 percent compared with last year. But that could be the least of the region’s problems if they can’t reach an agreement and a no-deal Brexit occurs.
Persons: Sackler, OxyContin, Giacomo Bagnara What’s, Trump’s, Trump, Mr . Biden, Biden, Macy’s Organizations: Purdue Pharma, Justice Department, Purdue, General Motors, European Locations: United States, California, America, European Union, Britain, France, England
Here's what Yellen's appointment signals for the Biden administration's economic policy, from near-term stimulus to Fed-Treasury cooperation. President-elect Joe Biden is reportedly set to nominate Yellen to run the department, making her the first woman to do so. From improving the relationship between the Treasury and the Fed to adjusting critical relief programs, here's how Yellen is poised to steer the Biden administration's economic policy. The former Fed chair also has a good relationship with current chair Jerome Powell, Sahm said. The former Fed chair has always been very focused on recovering first and dealing with government debt later, Tedeschi said.
Persons: Joe Biden's, Janet Yellen, Janet Yellen's, Joe Biden, Yellen, Read, unloads, Biden, Ernie Tedeschi, GOLDMAN SACHS, Steven Mnuchin, Tedeschi, Claudia Sahm, Sahm, they're, David Rosenberg, Mnuchin, Jerome Powell, Powell, Jay, he's Organizations: Treasury Department, Federal Reserve, Treasury, Fed, White House Council, Economic Advisers, Biden, Federal, Equity, Wall Street, Bloomberg TV, Republican, Republicans, Evercore ISI, Fund, Business, Labor, Funds, US Locations: Georgia
Economist Mohamed El-Erian cautioned investors about the risk of rising corporate bankruptcy rates in an interview with Bloomberg TV on Friday. Many investors have chosen to look past short-term market risks in the hopes that 2021 will be markedly more upbeat. Yet, Mohamed El-Erian warned investors that the interim journey to the vaccine will be a difficult time, particularly for investors in high-yield credit. This low number wouldn't just indicate a staggering economy, but would signal a potential increase in corporate bankruptcies, El-Erian said. And that's going to cause a decline in productivity short term," El Erian said.
Persons: Mohamed El, Erian, Read, GOLDMAN SACHS, unloads, El Erian, Morgan Stanley's Mike Wilson Organizations: Bloomberg, Allianz, Equity, Wall Street
San Francisco imposes new stay-at-home orders
  + stars: | 2020-11-28 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +11 min
SEE NEW POSTSSan Francisco imposes new stay-at-home orders In a little more than a month's time the city of San Francisco went from being among the state's best-performing communities when it comes to Covid-19 cases to yet another city constrained by California's strictest stay-at-home rules. Unlike in Los Angeles County, where restaurants are now limited to delivery and takeout, San Francisco officials said they'd allow restaurants to host outdoor diners. Health officials in the state's largest cities—Los Angeles, San Diego, San Jose and San Francisco—have now all imposed the strictest stay-at-home measures since spring in response to the national case surge. Share this -Pfizer's first Covid-19 vaccine doses flown to U.S. The first doses of Pfizer's Covid-19 vaccine are on the move.
Persons: Breed, San Francisco —, Biden, Jane Hopkins, David Michaels, Jill Jim, Hopkins, Clinton, Michaels, COVID, BioNTech, Benjamin Tandre, Kiran Ridley, Remi Thor, TOLGA AKMEN, Stuart Bell, , Roger Goodell, PFT Organizations: Mayor London Breed, Saturday, San Francisco, Health, San, Navajo, Harborview Medical, Snoqualmie Hospital, SEIU Healthcare, Advisory, Washington Workforce Board, Washington State Labor Council, SEIU Washington State AFRAM Caucus, Navajo Nation, Navajo Nation Department of Health, Indians, Alaska Natives, Lizer Administration, Navajo Department of Health, Environmental, Milken Institute School of Public Health, George Washington University, Labor, Occupational Safety, Energy, Environment, Safety, NBA, The Associated Press, Preseason, National Basketball Players Association, NBC News, United Airlines, Wall Street Journal, Pfizer, Federal Aviation Administration, FAA, Getty, Reuters, Police, Getty Images Police, Covid, NFL Locations: Francisco, San Francisco, California's, Los Angeles County, San, Los Angeles, San Diego, San Jose, Navajo Nation's, RNMH, England, Seattle, Washington, Sierra Leone, Alaska, Navajo, U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan, France, Paris, London, AFP, United Kingdom, BRUSSELS
Pfizer's first Covid-19 vaccine doses flown to U.S.
  + stars: | 2020-11-28 | by ( Nbc News | ) www.nbcnews.com sentiment -0.96   time to read: +1 min
Pfizer's first Covid-19 vaccine doses flown to U.S. The first doses of Pfizer's Covid-19 vaccine are on the move. A source familiar with the planning tells NBC News that United Airlines has already flown its first doses of the vaccine on a chartered plane from Belgium. United wouldn't confirm details, but in a written statement said it will "support a vaccine distribution effort on a global scale." In a separate statement, the Federal Aviation Administration said it was "supporting the first mass air shipment of a vaccine."
Persons: Pfizer's, BioNTech Organizations: NBC News, United Airlines, Wall Street Journal, Pfizer, Federal Aviation Administration, FAA Locations: U.S, Belgium, Puurs, Louis , Missouri, Andover , Maryland, Kalamazoo , Michigan
A Russian-brokered peace agreement halted weeks of fighting between Armenia and Azerbaijan and handed Moscow a geopolitical triumph, but has failed to instill a sense of safety among Armenians, for whom the presence of Russian troops in the area arouses a mixture of gratitude and distrust. The peace deal will see swaths of Armenian-controlled areas returned to Azerbaijan, which lost them years ago, following weeks of fighting that culminated in Azeri forces sweeping into parts of Nagorno-Karabakh, a province internationally...
Locations: Russian, Armenia, Azerbaijan, Moscow, Nagorno, Karabakh
When Robert Sullivan decided to take his yoga practice up a notch three years ago, he didn’t realize that would take him 20 feet off the floor. Dr. Sullivan, who has a fear of heights, had mistakenly signed up for a class in aerial silks. Unlike aerial yoga, which is typically done while hanging in silks three feet off the ground, aerial silks requires you to climb 15 to 20 feet high and perform circus-worthy feats. Rather than run, he stood captivated by the level of strength, flexibility and discipline the practice required....
Persons: Robert Sullivan, . Sullivan
WASHINGTON—Nearly two dozen Democratic-led states at odds with the Trump administration on climate-change policy joined forces last year to explore using the courts to secure federal mandates on greenhouse-gas emissions, according to records and interviews. The coalition agreed to cooperate in planning litigation against the federal government and consulted with former Environmental Protection Agency officials as part of the discussions, according to documents reviewed by The Wall Street Journal and people involved in the...
Persons: WASHINGTON —, Trump Organizations: Democratic, Environmental Protection Agency, Wall Street Journal
David Rosenberg — the founder of Rosenberg Research and famed economist who forewarned about the housing bubble — sees a plethora of red flags springing up within markets. Rosenberg provides a myriad of visuals to bolster his thesis, depicting overtly bullish sentiment and market positioning in conjunction with rich valuations. He also notes that the CAPE ratio — the cyclically adjusted price-to-earnings ratio — is sitting at the same level it was right before 2018's 20% plunge. In his mind, tell-tale signs of stock market euphoria — specifically aggressive market positioning, heightened bullish sentiment, and pricey valuations — are staring investors dead in the face. Haver Analytics, Rosenberg Research: Shading indicates recessionWith both bullish positioning and sentiment on the rise, Rosenberg turns his attention towards market valuations.
Persons: David Rosenberg —, Rosenberg, Trump, David Rosenberg, " Rosenberg, it's Organizations: Rosenberg Research, Dow Jones Industrial, Dow, Rosenberg
Chartered United Airlines flights from Brussels to Chicago are carrying Pfizer's COVID-19 vaccine, according to The Wall Street Journal. The flights represent one leg of a chain, which will extend from Chicago to distribution hubs around the US. Pfizer's vaccine must be stored in -103 degrees Fahrenheit, so the flights reportedly have special FAA approval to carry 15,000 pounds of dry ice. The Federal Aviation Administration (FAA) approved the shipments, which require the vaccine candidate to be packed in dry ice, according to CNN. Dry ice usually is limited on flights, but United got FAA approval to car about 15,000 pounds of it for each flight, according to the WSJ report.
Persons: drugmaker Pfizer, BioNTech, it's, AstraZeneca, Raine Organizations: United Airlines, Wall Street, Wall, Federal Aviation Administration, FAA, CNN, Pfizer, University of Oxford, AstraZeneca, Food and Drug Administration, United, Medicines and Healthcare Regulatory Agency Locations: Brussels, Chicago
Backyard shed maker Modern Shed has unveiled the DW, a $129,000 tiny home on wheels. The DW, short for Dwelling on Wheels, can be delivered as an office on wheels instead of a tiny home. Backyard shed maker Modern Shed has added a newcomer to its product line: the DW, a $129,000 tiny home on wheels. Modern Shed has been known to build backyard sheds that can serve as home offices and gyms, storage units, guest bedrooms, and more. But after almost 20 years of doing so, the company has decided to pivot this year amid the coronavirus pandemic to unveil a tiny home on wheels known as the Dwelling on Wheels, or the DW.
Persons: Ryan Smith, Read Organizations: Modern, Wall Street Locations: people's
The Fear and Greed index, known for gauging investor sentiment, moved into "extreme greed" territory this week and was at 92 out of 100 on Friday. Some investors took note of Warren Buffett's famous advice to "be fearful when others are greedy, and greedy when others are fearful" this week when CNN Business' Fear and Greed index moved into "extreme greed" territory on Wednesday. The higher the index reading, the greedier investors are. His team tested market returns based on the seven indicators of the Fear and Greed index and found that results range from better-than-normal returns to just below-normal returns when greed is high. However, even after putting aside the high reading on the Fear and Greed index, not all is rosy for the markets.
Persons: Evercore ISI's Dennis DeBusschere, Warren Buffett's, Fundstrat's, Tom Lee, Sven Henrich, Dennis DeBusschere, Evercore, DeBusschere Organizations: CNN, CNN Business, Companies Locations: U.S
Getty Images / Bill PuglianoWarren Buffett's Berkshire Hathaway amassed north of $8 billion of JPMorgan stock, only to sell almost all of it this year. Warren Buffett's Berkshire Hathaway built a stake in JPMorgan worth more than $8 billion at its peak, only to virtually eliminate the position in the space of six months as the COVID-19 pandemic ravaged the US economy. It boosted the holding over the next six months to about 60 million shares valued at $6 billion. It held fewer than 1 million shares at the end of September, a stake worth less than $95 million. Berkshire's firesale of JPMorgan stock is surprising given the links between the two companies.
Persons: Bill Pugliano Warren, Berkshire Hathaway, Buffett, he's, Jamie Dimon, Jamie, Warren Buffett's Berkshire Hathaway, It's, Todd Combs, Stephen Burke, Read, David Rosenberg, Dimon, Jeff Bezos Organizations: JPMorgan, Wall Street, CNBC, Bloomberg, Financial Times, Amazon, Barclays Locations: Berkshire, Costco, Wells Fargo
In 1985, Ivan Boesky reportedly told the graduates of the Haas School of Business at the University of California, Berkeley that greed was "healthy." Legend has it the sentiment and Boesky himself inspired the iconic character Gordon Gekko in the 1987 movie "Wall Street." Today, Boesky's name may no longer be synonymous with Wall Street millions or corporate greed. But in the early 1980s, Boesky was an investment banking titan who made hundreds of millions of dollars betting on corporate takeovers. Boesky reportedly became the highest-paid trader on Wall Street in 1985, according to the Associated Press.
Persons: Ivan Boesky, Boesky, Gordon Gekko, John Gotti, Rudy Giuliani, Donald Trump, Bethany McLean, Jeff Madrick, Seema Silberstein, Ivan F, Yves GELLIE, Ronald Reagan, CNBC's Andrew Ross Sorkin, Madrick, Martin Siegel, Siegel, Dennis Levine, Drexel Burnham Lambert, Misha Erwitt, Michael Milken, Ivan, Terrible Organizations: Haas School of Business, University of California, CNBC, Apple, Wall, York City's Harvard Club, Ivy League, Boesky, Company, Associated Press, Forbes, New York Times, Getty, Revlon, Cities Services, Peabody & Co, SEC, Wall Street, New York Daily Locations: Berkeley, New York, York, Detroit, Manhattan, Westchester County, New
Source: Harley-DavidsonTesla reached a $500 billion market valuation this week, a sign of its dominance in the electric vehicle market. He noted that Honda, Yamaha and Harley-Davidson together control about two-thirds of the global motorcycle market, and are each developing electric motorbikes. Siahaan also likes the torque output — a measure of the acceleration — of electric bikes, since it is all available at the outset. Nelson noted that most growth right now is in the small- to mid-sized section of the electric motorcycle and scooter market. NIU commands over 26% of the Chinese e-scooter sales market, and has risen in Europe to No.
Persons: Harley, Davidson, Jochen Zeitz, It's, Davidson Tesla, Elon Musk, Musk, , Preeti Wadhwani, Prasenjit Saha, that's, Garrett Nelson, Nelson, Sam Korus, Tesla, Uber, Bird, Dittrich, Troy Siahaan, Siahaan, Korus, NIU, Vincent Yu, Cathie Wood, Yu, it's, Jochen Zeitz Harley, Craig Kennison, RW Baird, Kennison, Brandon Rolle, James Hardiman, Hardiman, Zero, Scott Olson, Eva EsseEsse9, Saha, Honda Organizations: Harley, Global Market, CFRA Research, Honda, Yamaha, Hero Motors, Bajaj Auto, Zero, ARK Invest, DPA, Getty, BMW, Needham, Co, NIU Technologies, ARK, Puma, Wall Street, Northcoast, Wedbush Securities, CNBC, FX, Polaris, CRP, Saha of, Global Marketing Institute, Honda Motorcycles Locations: Hannover, Germany, China, Southeast Asia, Asia, Europe, North, South America, Indonesia, U.S, Zeitz, Harley, Santa Cruz , California, Chicago , Illinois, California, Modena, Italy, North America, Japan
GM plans to seek banking charter for auto-lending business: WSJ
  + stars: | 2020-11-27 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio(Reuters) - General Motors Co is planning to apply for a banking charter that would allow its lending unit to hold deposits and expand its auto-finance business, the Wall Street Journal reported on Friday, citing people familiar with the matter. The automaker's finance arm, General Motors Financial Company Inc, has been talking to federal and state banking regulators for months about forming an industrial loan company and could file its applications as early as December, the report said here. “Industrial Loan Company” charters allow non-banks to originate loans and collect insured deposits. GM did not immediately respond to a Reuters request for comment.
Persons: Sao Jose dos Campos, Roosevelt Cassio Organizations: General, REUTERS, General Motors Co, Wall Street, General Motors Financial Company Inc, Industrial Loan Company, GM Locations: Sao Jose, Brazil
Wall Street rises, Nasdaq hits record high on recovery hopes
  + stars: | 2020-11-27 | by ( Shivani Kumaresan | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., November 24, 2020. Nine of the 11 major S&P sectors were higher, with only the real estate and the utilities sectors, commonly considered defensive, trading lower. Market volatility, as measured by the CBOE volatility index, slipped to pre-pandemic levels. Trading volumes are expected to be light as the U.S. stock market closes early on Friday. The S&P index recorded 17 new 52-week highs and no new low, while the Nasdaq recorded 75 new highs and four new lows.
Persons: Brendan McDermid, Donald Trump, Joe Biden, , Rick Meckler, Meckler Organizations: Reuters, Nasdaq, New York Stock Exchange, REUTERS, Electoral, Cherry Lane Investments, Pfizer Inc, Moderna Inc, Dow Jones, Dow, iQIYI Inc, Alibaba, Holding, Tencent Holdings, NYSE Locations: New York, U.S, New Jersey
The Class of 2020 Looks for Work
  + stars: | 2020-11-27 | by ( Ellen Byron | ) www.wsj.com + 0.75   time to read: 1 min
Clockwise from top left: Chloe Isleta has been pursuing Olympic swimming hopes and a job; Jule Brown interviews for positions while parked in his car; Riley Jenson wanted to work in fashion but for now sells children’s clothing; De Andre King landed a programming gig and works from his family home. Courtney Pedroza for The Wall Street Journal; Hannah Yoon for The Wall Street Journal; Elias Williams for The Wall Street Journal; Oliver Parini for The Wall Street Journal
Persons: Chloe Isleta, Jule Brown, Riley Jenson, De Andre King, Courtney Pedroza, Hannah Yoon, Elias Williams, Oliver Parini Organizations: Wall, The Wall, Wall Street
MIĘDZYCHÓD, Poland—So many new doctors left Poland for better-paying jobs in Europe’s west that when Łukasz Rotnicki decided to stay behind he often found himself working 36-hour shifts, sleeping on the brown pullout sofa of a small-town hospital with too few staff. That was before Covid-19. On a recent Monday, the 36-year-old surgeon was...
Persons: Łukasz Rotnicki Locations: MIĘDZYCHÓD, Poland, Europe’s
Wall Street points to modest gains amid low trading volume after Thanksgiving
  + stars: | 2020-11-27 | by ( ) www.cnbc.com sentiment -0.98   time to read: 1 min
Wall Street points to modest gains amid low trading volume after ThanksgivingU.S. stock index futures edged higher early Friday amid low trading activity due to the Thanksgiving holiday. CNBC's Brian Sullivan reports.
Persons: CNBC's Brian Sullivan Organizations: U.S
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