Markets and Business News Review

College Football Isn’t Safe To Play This Fall, California Doctor, State Senator Says

Shlomo Sprung, Senior Contributorhttps://www.forbes.com/sites/shlomosprung/ — Sat, 08 Aug 2020 23:01:13 -0400

Dr. Richard Pan, a California State Senator withva master’s in public health from Harvard lays out the reasons why it isn't safe to play college football this fall.

Chinese smartphone maker Realme takes on emerging Asian markets

Sat, 08 Aug 2020 23:00:07 -0400

Two-year-old brand cracked the world’s top 10 handsets with cheap and relatively high-spec devices

Trump’s stimulus orders don’t seem to be feasible or legal, experts say

Sat, 08 Aug 2020 22:16:58 -0400

President Donald Trump’s executive order and memorandum to stimulate the economy don’t seem to be feasible or legal, experts said Saturday.

Trump’s Go-It-Alone Stimulus Won’t Do Much to Lift the Recovery

Jim Tankersley — Sat, 08 Aug 2020 22:05:10 -0400

A series of executive actions will provoke lawsuits but is unlikely to stoke faster growth in an economy that has cooled this summer.

Sat, 08 Aug 2020 21:52:11 -0400

Hong Kong Officials Condemn and Mock Trump Administration Sanctions

Paul Mozur — Sat, 08 Aug 2020 21:25:15 -0400

Officials in Hong Kong targeted by new United States sanctions argued on Saturday that the move harmed American interests and would have little impact on them.

Trump takes executive action on economic relief

Sat, 08 Aug 2020 20:40:32 -0400

US president issues orders after collapse in talks with Congress on coronavirus stimulus package

US health secretary’s Taiwan trip is culmination of strategic shift

Sat, 08 Aug 2020 20:30:07 -0400

Visit highlights island’s growing importance in clash between Washington and Beijing

Sat, 08 Aug 2020 20:22:10 -0400

Will You Get A Second Stimulus Check In Trump’s Executive Order?

Zack Friedman, Contributorhttps://www.forbes.com/sites/zackfriedman/ — Sat, 08 Aug 2020 19:26:43 -0400

Will President Donald Trump send you a second stimulus check by executive order?

U.S. Coronavirus Cases Top 5 Million As Americans Wait For Federal Rescue

Sat, 08 Aug 2020 19:08:22 -0400

Grim milestone comes only days after count topped 4 million.

Netflix’s 10 Most Popular Movies Of The Summer May Surprise You

Travis Bean, Contributorhttps://www.forbes.com/sites/travisbean/ — Sat, 08 Aug 2020 19:00:00 -0400

These ten movies have dominated more than any other this summer on Netflix.

Sat, 08 Aug 2020 18:52:10 -0400

Lewandowski Underlines Status As World’s Best Striker In Win Over Chelsea

Manuel Veth, Contributorhttps://www.forbes.com/sites/manuelveth/ — Sat, 08 Aug 2020 18:36:44 -0400

On Saturday, the Bayern Munich's Robert Lewandowski was involved in all four goals in his club's 4-1 victory over Chelsea.

The Shipping Laws That Could Have Averted Two Catastrophes This Week

Nishan Degnarain, Contributorhttps://www.forbes.com/sites/nishandegnarain/ — Sat, 08 Aug 2020 18:29:00 -0400

Reform of Shipping's Flags of Convenience could have avoided two major disasters in the past week. This could have important sustainability implications for manufacturers.

Trump’s Much-Hyped Plan For Kodak Pharmaceuticals Put On Hold

Sat, 08 Aug 2020 18:25:58 -0400

The deal, made possible by new executive orders from President Trump, was designed to bolster the domestic response to Covid-19 under the Defense Production Act.

Ex-Green Berets jailed for 20 years for Venezuela ‘plot’

Sat, 08 Aug 2020 18:25:39 -0400

Two men were among a group captured while trying to land on the coast in small boats

Trump Signs Executive Orders, But Stimulus Spend Is Limited

Simon Moore, Senior Contributorhttps://www.forbes.com/sites/simonmoore/ — Sat, 08 Aug 2020 18:22:08 -0400

President Trump's executive orders are unlikely to impress the markets, but may kickstart negotiations on further stimulus

Without $600 Weekly Benefit, Unemployed Face Bleak Choices

Ben Casselman and Gillian Friedman — Sat, 08 Aug 2020 18:20:43 -0400

A federal supplement to jobless pay was a lifeline for millions and for the economy. Its cutoff, even if temporary, may have lasting consequences.

Trump Suspends Student Loan Payments Through December 31

Zack Friedman, Contributorhttps://www.forbes.com/sites/zackfriedman/ — Sat, 08 Aug 2020 18:03:18 -0400

President Donald Trump will suspend your federal student loan payments through December 31, 2020.

Trump Reportedly Lashes Out At Billionaire Donor Sheldon Adelson

Daniel Cassady, Forbes Staffhttps://www.forbes.com/sites/danielcassady/ — Sat, 08 Aug 2020 17:44:55 -0400

The call left Republican Party officials worried Adelson wouldn’t help float Trump’s troubled reelection campaign.

TaxWatch: Should I have gotten my stimulus check by now? Why some people are still waiting — and what to do about it

Sat, 08 Aug 2020 17:40:12 -0400

Next week, an IRS watchdog agency will help track down stimulus payments for taxpayers facing certain scenarios.

Americans’ household debt fell for the first time since 2014 — but that doesn’t mean people are paying off their loans

Sat, 08 Aug 2020 17:37:57 -0400

The pandemic-fueled economic downturn hasn’t led to Americans going into default on their debts yet.

Calculating America’s eviction crisis: Up to 40 million people are at risk of being kicked out of their homes

Sat, 08 Aug 2020 17:37:23 -0400

The coronavirus pandemic has heightened deep-seated inequality in the nation’s housing market.

The Moneyist: When will I receive my FIRST stimulus check? ‘We, the qualifying taxpayers, should not have to suffer’

Sat, 08 Aug 2020 17:36:45 -0400

‘I was the supervisor of the department that processed and reconciled parking citations. Since mid-March, the number of parking citations drastically fell due to the coronavirus pandemic.’

Landlords must notify tenants about eviction proceedings in multi-family buildings, housing regulator says

Sat, 08 Aug 2020 17:35:59 -0400

The Federal Housing Finance Agency is also improving online tools where tenants can see whether they’re eligible for protections.

In One Chart: Feeling lax about wearing a face mask? These 3 charts may change that

Sat, 08 Aug 2020 17:34:58 -0400

America’s COVID-19 death toll in the U.S. could reach nearly 300,000 by Dec. 1, according to a new projection.

The Giving Pledge turns 10: These billionaires pledged to give away half their wealth, but they soon ran into a problem

Sat, 08 Aug 2020 17:32:51 -0400

A group of billionaires including Bill Gates, MacKenzie Scott, Michael Bloomberg, Elon Musk and Mark Zuckerberg set a new standard for ‘public accountability for generosity.’

Why are some people with coronavirus asymptomatic — and what makes them so contagious?

Sat, 08 Aug 2020 17:30:59 -0400

Asymptomatic transmission ‘is the Achilles’ heel of COVID-19 pandemic control,’ one study says.

Sat, 08 Aug 2020 17:22:09 -0400

‘Official Secrets’ On Prime Video: A Gripping Thriller On A British Whistleblower

Sheena Scott, Contributorhttps://www.forbes.com/sites/sheenascott/ — Sat, 08 Aug 2020 17:06:05 -0400

The film, starring Keira Knightley, tells the story of Katharine Gun and is now available to stream on Amazon.

Next Stop Lisbon: FC Barcelona Versus Napoli Champions League Result And What We Learned

Tom Sanderson, Contributorhttps://www.forbes.com/sites/tomsanderson/ — Sat, 08 Aug 2020 17:01:00 -0400

At the Camp Nou on Saturday, FC Barcelona took on Napoli in a Champions League last 16 second leg clash. Here's the result, what happened and what we learned from the fixture.

NewsWatch: Stock-market expert sees a ‘monstrous’ rally taking hold next week, if one recent trend holds

Sat, 08 Aug 2020 17:00:11 -0400

The best start to an August for the stock market in years might get even better, as soon as next week, if the forecast from Thomas Lee, founder of Fundstrat Global Advisors, is to be believed.

How to Prepare for Your Return to the Office

Sara Aridi — Sat, 08 Aug 2020 17:00:08 -0400

Nervous about the possibility of going back to the workplace? Here’s what to take into consideration.

$600 Weekly Unemployment Check Cut To $400 Under Trump Executive Orders—And More

Rachel Sandler, Forbes Staffhttps://www.forbes.com/sites/rachelsandler/ — Sat, 08 Aug 2020 16:59:34 -0400

Congressional negotiations for another coronavirus relief bill broke down this week.

Deep Dive: Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says

Sat, 08 Aug 2020 16:44:46 -0400

Michael Cuggino of the Permanent Portfolio makes the case that gold is still relatively cheap, despite its 35% increase this year.

Coronavirus Spikes In Ireland, France, Spain And Italy Put Europe On High Alert

Carlie Porterfield, Forbes Staffhttps://www.forbes.com/sites/carlieporterfield/ — Sat, 08 Aug 2020 16:33:05 -0400

Countries that were thought to have beaten back the worst of the pandemic are seeing slight upticks in new cases.

Deep Dive: This $20 billion bond fund produced outsized returns by capitalizing on market turmoil, and is set to do it again

Sat, 08 Aug 2020 16:33:03 -0400

Anne Walsh of Guggenheim Investments explains her strategy in a difficult environment for income investors.

Deep Dive: 20 stocks that investors hate but Wall Street loves as the S&P 500 nears a record high

Sat, 08 Aug 2020 16:22:19 -0400

The rally for U.S. stocks from the March bottom has been remarkable, but most S&P 500 stocks are down for 2020.

Luke Goss Talks ‘Paydirt,’ Producing And His Approach To Business

Simon Thompson, Contributorhttps://www.forbes.com/sites/simonthompson/ — Sat, 08 Aug 2020 16:05:08 -0400

The actor and producer discusses 'the walk' that has encompassed highs and lows, multi-million dollar movies, and finding his authentic self in business and his life.

Top Ten: Weekend reads: Would you volunteer for a COVID-19 vaccine trial?

Sat, 08 Aug 2020 16:01:56 -0400

Also, a hot housing market, interesting retirement destinations and heartfelt advice from the Moneyist.

$14.8 Billion In Federal Funding Flows Into Just Five Major U.S. Cities Where Civil Unrest Looms & Police Stand Down

Sat, 08 Aug 2020 15:54:31 -0400

Nobody knew exactly how much federal money funded these big cities.

Sat, 08 Aug 2020 15:52:10 -0400

BookWatch: What investors should do if they think the stock market is in a bubble, according to the folks who wrote the book on bubbles

Sat, 08 Aug 2020 15:50:00 -0400

The coronavirus shutdown has resulted in a resurgence of day trading, particularly on zero-commission apps. But could the entry of large numbers of speculative day traders create a bubble in stocks?

Profits Rebound at Warren Buffett’s Berkshire Hathaway

Peter Eavis — Sat, 08 Aug 2020 15:41:31 -0400

Berkshire reported earnings of $26.4 billion in the second quarter, a turnaround from its $49.7 billion loss in the first quarter, when the pandemic caused a plunge in the stock market.

Outside the Box: Mortgage applications for suburban homes are surging as buyers try to escape the coronavirus pandemic

Sat, 08 Aug 2020 15:36:54 -0400

These 3 COVID-19 related trends are changing the U.S. housing market, writes mortgage firm CEO Sanjiv Das.

The Tell: Historian who has accurately called every election since 1984 says Biden will beat Trump in 2020 race

Sat, 08 Aug 2020 15:21:00 -0400

The historian who is known affectionately as the granddaddy of presidential prediction models says Democratic presumptive nominee Joe Biden is a shoo-in to win the 2020 presidential race.

Luka Doncic Named Finalist For NBA Most Improved Player Award

Doyle Rader, Contributorhttps://www.forbes.com/sites/doylerader/ — Sat, 08 Aug 2020 15:18:27 -0400

Coming off his Rookie of the Year campaign in his first year in the NBA, Doncic continues to impress. He's shown marked improvement in his second season.

Health care will cost this much in retirement — but probably even more

Sat, 08 Aug 2020 15:03:58 -0400

And with COVID lurking, here’s one employer benefit you should absolutely review

Protests turn violent in Beirut as anger against leaders grows

Sat, 08 Aug 2020 14:51:28 -0400

Demonstrators blame entrenched corruption and mismanagement for port explosion that killed 150

Mark Hulbert: How much more will you get if you delay Social Security until age 70?

Sat, 08 Aug 2020 14:43:20 -0400

The calculations quickly get complicated

DAMN: The Cannabis-Infused Show That Feeds Latin America’s Hip-Hop Culture

Javier Hasse, Senior Contributorhttps://www.forbes.com/sites/javierhasse/ — Sat, 08 Aug 2020 14:34:27 -0400

In recent years, hip-hop culture has become huge in Latin America, after decades of being overlooked. While still permeated by the American rap culture, the movement is quite autochthonous. Out of the mission to incentivize a two-way cultural crossover, DAMN! was born.

The Tell: Stock-market expert sees a ‘monstrous’ rally taking hold next week, if one recent trend holds

Sat, 08 Aug 2020 14:32:00 -0400

The best start to an August for the stock market in years might get even better, as soon as next week, if the forecast from Thomas Lee, founder of Fundstrat Global Advisors, is to be believed.

Sat, 08 Aug 2020 14:22:09 -0400

Major League Soccer Can Avoid Baseball’s Covid-19 Outbreaks In Return To Local Markets. Here’s Why

Ian Quillen, Contributorhttps://www.forbes.com/sites/ianquillen/ — Sat, 08 Aug 2020 14:19:12 -0400

It’s very unlikely MLS will avoid additional confirmed positive cases. But careful planning could help them prevent the kind of cluster that bring the massive schedule disruption that has plagued baseball since its return.

Upgrade: My retirement income is just $16,600 a year, but I want to retire in a beach town ‘where the sky is blue and the water warm’ — where should I go?

Sat, 08 Aug 2020 14:16:03 -0400

3 spots to consider

Judge Orders Release Of Bodycam Footage In George Floyd Case

Daniel Cassady, Forbes Staffhttps://www.forbes.com/sites/danielcassady/ — Sat, 08 Aug 2020 14:12:21 -0400

Parts of the body cam footage have already been leaked by the Daily Mail.

Sheffield United's Saudi Boss On Soccer's Future

Samindra Kunti, Contributorhttps://www.forbes.com/sites/samindrakunti/ — Sat, 08 Aug 2020 14:08:23 -0400

Prince Abdullah bin Mosaad opens up about the future of the game and his ownership at both Sheffield United and Beerschot.

TikTok Reportedly Plans To Sue Trump Administration Over Ban As Soon As Tuesday

Rachel Sandler, Forbes Staffhttps://www.forbes.com/sites/rachelsandler/ — Sat, 08 Aug 2020 13:58:03 -0400

The White House has said TikTok is a national security and privacy threat because it’s owned by Chinese firm ByteDance.

The Tell: Gold will top $3,000, says this firm, one of the first to call the gold bull market of the 20th century

Sat, 08 Aug 2020 13:58:00 -0400

A decades-old financial-services firm with a long history in making the right calls on gold says it's got at least 60% upside from here.

: Borrowers are still having their paychecks seized over defaulted student loans, even though the CARES Act was supposed to stop wage garnishment, lawsuit says

Sat, 08 Aug 2020 13:51:00 -0400

The CARES Act was supposed to halt wage garnishment for defaulted student-loan borrowers, but a lawsuit says it's still happening.

Democrats React To USPS Shake-Up: ‘Sabotage’ And ‘Partisan Games’

Carlie Porterfield, Forbes Staffhttps://www.forbes.com/sites/carlieporterfield/ — Sat, 08 Aug 2020 13:50:08 -0400

Postmaster General Louis DeJoy continues to rework the USPS, as Democrats accuse him of sabotaging the election in support of President Trump.

The Margin: Republican satisfaction with the state of America has plummeted

Sat, 08 Aug 2020 13:42:47 -0400

Overall American satisfaction is the lowest it’s been in almost a decade, Gallup reports

UFC On ESPN+ 32: Final Betting Odds For Derrick Lewis Vs. Aleksei Oleinik Fight Card

Trent Reinsmith, Contributorhttps://www.forbes.com/sites/trentreinsmith/ — Sat, 08 Aug 2020 13:34:29 -0400

Derrick Lewis and Aleksei Oleinik headline tonight's UFC on ESPN+ 32 fight card

Where Should I Retire?: I want to retire in Texas and near freshwater on $4,000 a month — where should I go?

Sat, 08 Aug 2020 13:25:23 -0400

Here are three suggestions that fit the bill.

Outside the Box: Why this unusual recession hammered Coke, but not Pepsi

Sat, 08 Aug 2020 13:18:00 -0400

A couple of things have become clear about the COVID-19 recssion: A V-shaped recovery was unlikely, and different industries had widely divergent experiences of the pandemic.

The Ratings Game: How acquiring TikTok could hurt Microsoft

Sat, 08 Aug 2020 13:15:21 -0400

Microsoft Corp. has a chance to scoop up the hottest craze in social media at a potentially attractive price, but analysts think a TikTok deal threatens the simple yet successful story that has pushed Microsoft’s valuation past $1.6 trillion.

Next Avenue: Should you volunteer for a COVID-19 vaccine trial? Who qualifies, and what are the side effects?

Sat, 08 Aug 2020 13:11:33 -0400

Clinical trials of vaccines are being developed by several companies. Here’s who they’re looking for, and what’s involved.

Mutual Funds Weekly: These money and investing tips aim to keep your investment portfolio grounded in reality

Sat, 08 Aug 2020 13:05:47 -0400

These money and investing stories were popular with MarketWatch readers this past week.

The Tell: The market is underpricing the possibility of a vaccine, Goldman Sachs strategists say

Sat, 08 Aug 2020 13:02:00 -0400

The market is underpricing the possibility of a coronavirus vaccine, according to Goldman Sachs strategists.

How Paramount Failed To Turn ‘Star Trek’ Into A Blockbuster Franchise

Scott Mendelson, Contributorhttps://www.forbes.com/sites/scottmendelson/ — Sat, 08 Aug 2020 13:00:00 -0400

Paramount's attempts to turn 'Star Trek' into an A-level franchise are no more likely to succeed in today’s unforgiving theatrical marketplace than in 2009.

Sat, 08 Aug 2020 12:52:10 -0400

Polish police detain LGBT protesters after scuffles in Warsaw

Sat, 08 Aug 2020 12:29:25 -0400

Clash comes as tension rises between activists and ruling Law and Justice party

Gabriel Jesus: The Rise And Rise Of The Greatest Average Player In The World

Joshua Law, Contributorhttps://www.forbes.com/sites/joshualaw/ — Sat, 08 Aug 2020 12:26:42 -0400

Gabriel Jesus's technical skills might not compare to the best, but he has other traits that stand him apart, even at the very top of world soccer.

The Tell: How one small group of traders ‘made more money than they could have dreamed of’ — and in a single day

Sat, 08 Aug 2020 12:25:43 -0400

When crude prices plunged into negative territory for the first time ever back in April, one thing was clear: There were some serious losers — and winners — in the oil pits. Now, Bloomberg News has identified a remarkable example of the latter.

C.D.C. Closes Some Offices Over Bacteria Discovery

Max Horberry — Sat, 08 Aug 2020 12:25:08 -0400

The move highlights the risk of Legionnaires’ disease outbreaks when buildings are reopened after coronavirus lockdowns.

MAC Cancels 2020 College Football Season

Rachel Sandler, Forbes Staffhttps://www.forbes.com/sites/rachelsandler/ — Sat, 08 Aug 2020 12:24:35 -0400

The league is the first top college league to ditch its season because of the coronavirus.

The number of Americans skipping mortgage payments is falling — except among these borrowers

Sat, 08 Aug 2020 12:23:21 -0400

Forbearance plans allow mortgage borrowers to make reduced payments or skip monthly payments.

Disney shakes up streaming approach after losing nearly $5 billion due to pandemic

Sat, 08 Aug 2020 12:11:08 -0400

Walt Disney Co. is doubling down on streaming after reporting a quarterly loss of nearly $5 billion Tuesday amid a pandemic that has all but paralyzed its theme parks, live productions and cruise line.

Portland Protesters Again Clash With Police As Mayor Decries ‘Attempting Murder’

Sat, 08 Aug 2020 12:11:00 -0400

Portland has seen perhaps the most sustained protests in the nation following the death of George Floyd.

NewsWatch: Stock-market expert sees a ‘monstrous’ rally taking hold next week, if one recent trend holds

Sat, 08 Aug 2020 12:00:11 -0400

The best start to an August for the stock market in years might get even better, as soon as next week, if the forecast from Thomas Lee, founder of Fundstrat Global Advisors, is to be believed.

Foreign buying of American real estate plunged before the coronavirus pandemic — and experts say it’s only going to get worse

Sat, 08 Aug 2020 11:57:22 -0400

International buyers purchased the smallest number of existing-homes in the U.S. since 2011 this past year.

Real-estate reckoning on ‘master bedrooms’ as a racist term took place after years of discussion — yet many home builders dropped the term years ago

Sat, 08 Aug 2020 11:56:44 -0400

A growing number of real-estate professionals have stopped using the phrase ‘master bedroom’ amid a broader societal rethink of the language we use.

Howard Gold's No-Nonsense Investing: These boomers just made massive retirement mistakes — don’t be one of them

Sat, 08 Aug 2020 11:56:11 -0400

Having too much stock, no stock at all, or panic selling trips up near-retirees

The Moneyist: I told my unemployed tenant about jobs. He said they don’t pay enough, and sits at home smoking weed. Now he wants a discount. What do I do?

Sat, 08 Aug 2020 11:56:06 -0400

‘Part of me doesn’t want to give him a discount since I work so hard and long hours, and he just hangs around being picky about work. Is that wrong of me?’

Protesters block Bolivian roads after Covid-19 postpones election

Sat, 08 Aug 2020 11:55:38 -0400

Activists say delay it is attempt to cling to power, but government says action is cutting off medical supplies

The Moneyist: My fiancée’s divorce decree says she’s not liable for her former husband’s $100K tax bill. That should protect her, right?

Sat, 08 Aug 2020 11:55:29 -0400

‘During their marriage he built up large tax bills, they filed jointly, and he built up close to $100,000 that’s still due from when they were married.’

Protesters Clash With Police In Beirut As Thousands Protest Over Massive Blast

Daniel Cassady, Forbes Staffhttps://www.forbes.com/sites/danielcassady/ — Sat, 08 Aug 2020 11:45:57 -0400

The ammonium nitrate that ignited the blast had been in the port for seven years.

Denver Nuggets Still In Driver’s Seat For Third Seed In West, But Will Need More Wins To Secure It

Joel Rush, Contributorhttps://www.forbes.com/sites/joelrush/ — Sat, 08 Aug 2020 11:45:26 -0400

The Denver Nuggets’ playoff seeding remains in flux, but they're still on track for the third seed in the West and relatively favorable matchups on their side of the postseason bracket.

Biden vs. Trump: The Battle Over US Energy Policy And Its Consequences

Tilak Doshi, Contributorhttps://www.forbes.com/sites/tilakdoshi/ — Sat, 08 Aug 2020 11:39:41 -0400

US energy policy has emerged as one of the core issues in the 2020 presidential elections. The Democratic party has elevated it to its highest priority. The outcome will not only affect the livelihood of all Americans but will also profoundly influence global economic and geopolitical affairs.

Maybe Baby Yoda Ought To Be Adorned On The Hood Of Every Self-Driving Car

Lance Eliot, Contributorhttps://www.forbes.com/sites/lanceeliot/ — Sat, 08 Aug 2020 11:34:39 -0400

Baby Yoda could help the advent of self-driving cars.

BTS Earn Another Guinness World Record In South Korea With Their Album ‘Map Of The Soul: 7’

Hugh McIntyre, Contributorhttps://www.forbes.com/sites/hughmcintyre/ — Sat, 08 Aug 2020 11:30:00 -0400

BTS's latest Korean release is already the bestselling album of all time in the country.

Where Should I Retire?: I’m looking to retire in a warm place that has a ‘socially liberal mindset’ and lots of live music — and I’m a die-hard skier. Where should I go?

Sat, 08 Aug 2020 11:29:56 -0400

This reader has just turned 50 and is starting to think seriously about retirement.

The Four-Minute Miracle On Bay Street In Toronto

Curtis Rush, Contributorhttps://www.forbes.com/sites/curtisrush/ — Sat, 08 Aug 2020 11:29:35 -0400

If you have lived in Toronto long enough and follow the Maple Leafs, you are used to heartbreak and failure.

4 million older workers will be pushed out of the workforce by October

Sat, 08 Aug 2020 11:24:47 -0400

And those that return to work may not get the best circumstances, new report found

Four Techniques Olympic Athletes Will Use To Retain Their Skills For Another Year

Kumar Mehta, Contributorhttps://www.forbes.com/sites/kmehta/ — Sat, 08 Aug 2020 11:24:27 -0400

There are four things that every athlete or anyone whose aspirations are suspended should consider:

Sat, 08 Aug 2020 11:22:11 -0400

Buffett and Berkshire Hathaway Earnings Dominated by Stock Buybacks and Stock Gains

Jon C. Ogg — Sat, 08 Aug 2020 11:18:03 -0400

Berkshire Hathaway Inc. (NYSE: BRK-B) is the largest conglomerate of them all. With the great Warren Buffett still at the helm after decades, investors are always curious about what actions the Oracle of Omaha is taking. After a dismal first quarter report was dragged down by the pandemic-related selling in stock prices, the second quarter of 2020 showed a major snap-back in Buffett’s investments and that drove earnings back up.

Without any doubt, the most interesting and the most important aspects of the Berkshire Hathaway quarterly report is the non-operating aspects of stock holdings and share buybacks. Investors know that Berkshire Hathaway is a conglomerate, but adding Warren Buffett and an estimated $200 billion stock portfolio makes this a company that is intertwined with activist investing, ETFs and mutual funds, and mergers and acquisitions all wrapped up into one.

The second quarter net earnings of $26.295 billion sounds massive, but the earnings for the first six-month period of 2020 was still a loss of $23.451 billion. The similar reports for 2019 were $14.073 billion in the first quarter of 2019 and $35.734 billion for the first half of 2019.

Warren Buffett has never paid out a regular dividend to his shareholders despite amassing well over $100 billion in cash. What Buffett will engage in, and what he loosened up the criteria for when that can occur, is to buy back Berkshire Hathaway’s own common stock. This can drive up operating earnings and shrink the float of stock, and Buffett and his team spent a record $5.1 billion repurchasing shares of Berkshire Hathaway during the second quarter.

Berkshire Hathaway’s record buyback quarter was some 130% higher than the $2.2 billion prior record from the fourth quarter of 2019. The earnings report now indicates that Berkshire’s own stock buying has been $6.7 billion in the first half of 2020.

As for how the massive investment portfolio during market volatility contributes to earnings, the combined investment gains and losses included a gain of $34.5 billion in the second quarter and a loss of $19.7 billion in the first half of the year. Buffett’s investment gains and losses in 2020 also included after-tax realized losses (sales of investments) of $3.5 billion during the second quarter and losses of $2.6 billion in the first six months.

Berkshire Hathaway’s operating earnings look much more boring than the larger all-in report including investments, but the core Berkshire Hathaway is hanging in there during the recession. Operating earnings of $5.513 billion in the second quarter and $11.423 billion in the first half of 2020 were against similar comparisons of $6.139 billion in the second quarter of 2019 and $11.694 billion in the first half of 2019.

One special note that was not normal, but was seen in the recession, was that the GEICO unit initiated a $2.5 billion “give-back” on April 8, 2020 to policyholders with respect to policies renewed and newly issued policies. This so-called “give-back” will be spread over the twelve month period beginning on April 8, 2020 for accounting purposes and will have a dragon results.

While Berkshire Hathaway’s stock portfolio has been seen much recovery, the current quarter that has not ended is currently on track to show solid delivery as well. While he appears to be too conservative in 2020, Buffett’s core stock holdings all seem to be tracking back up and are likely worth more than $200 billion again, even after losing billions in the panic-sale of airline stocks.

The largest holdings in Apple Inc. (NASDAQ: AAPL) have seen a massive surge this summer after the tech giant’s market cap is nearing $2 trillion and as it has announced a stock split.

Buffett has also continued making big stock purchases in shares of Bank of America Corporation (NYSE: BAC). Buffett’s stake of 925 million shares at the end of June, but the latest filing showed a total beneficial ownership of more than 1.03 billion shares. The large bet in Wells Fargo & Co. (NYSE: WFC) has continued to act as an overhang on Berkshire Hathaway, but it looks as though this position is continuing to be trimmed down. At $25.07 as of Friday, its 52-week low of $22.00 shows how much it has lagged peers during the recovery.

While American Express Co. (NYSE: AXP) and The Coca-Cola Company (NYSE: KO) are still handily lower than their highs, they are up again so far in the third quarter.

Another big move that will be helping out shareholders if current share prices hold is in The Kraft Heinz Company (NASDAQ: KHC). The troubled food giant has been a thorn in Buffett’s side and perhaps the biggest mistake ever, but after bottoming out at roughly $20 in the first quarter’s peak of the selling panic, Kraft Heinz’s packaged foods are back in favor in the eat-at-home economy. That stock rice was $31.89 on June 30 and was $35.41 as of Friday’s close. Berkshire Hathaway’s stake of 325,634,818 shares as of June 30 represented some 26.64% of the outstanding shares.

Warren Buffett has always warned that earnings were not the way to look at his company any longer. The company’s core operations held up so far in 2020 compared to elsewhere, but the big move is in the massive investment portfolio. Buffett has been making moves in utilities, and it’s very possible he could jump in and make another big specific acquisition of a troubled outfit.

The buyback also sounds massive, but that level of buying based on Berkshire Hathaway’s cash and based on the inflow that would come from operating earnings could last for well over a decade without using a penny of cash from that $200-plus billion (estimated vs. $175.5 billion at the end of March) equity portfolio.

Retire Better: ExxonMobil will suspend its 401 (k) matching—as threats to its dividend mount

Sat, 08 Aug 2020 11:15:34 -0400

Companies take drastic measures to shore up their finances

The Margin: ‘Will the public be ready for a vaccine?’ Many Americans say they won’t get the coronavirus vaccine if one is developed

Sat, 08 Aug 2020 11:04:32 -0400

Surveys show people are divided along political and state lines about trusting a COVID-19 vaccine

Nashville’s Hip-Hop Scene Isn’t New

Rianna Turner, Contributorhttps://www.forbes.com/sites/riannaturner/ — Sat, 08 Aug 2020 11:01:48 -0400

The city's collaborative music culture keeps rap artists around, despite industry challenges.

The Margin: 55% of coronavirus patients still have neurological problems three months later: study

Sat, 08 Aug 2020 11:00:59 -0400

Mounting evidence suggests COVID-19 could cause brain damage in adults and kids

Help Me Retire: I’m 52, won’t live past 80 and have $1.6 million. ‘I am tired of both the rat race and workplace politics.’ Should I retire?

Sat, 08 Aug 2020 11:00:08 -0400

Have a question about retirement, including where to retire? Email HelpMeRetire@marketwatch.com

A Failed ‘Home Alone’ Rip-Off And Box Office Disappointment Was Yesterday’s Most-Watched Netflix Movie

Scott Mendelson, Contributorhttps://www.forbes.com/sites/scottmendelson/ — Sat, 08 Aug 2020 11:00:00 -0400

'Dennis the Menace' was an early example of Hollywood reshaping a known brand to make the movie more closely resemble an entirely original box office blockbuster.

Quicken Loans parent’s stock rises as company looks to build ‘the Amazon for financial services’

Sat, 08 Aug 2020 10:44:10 -0400

Quicken became the country’s largest mortgage lender following the debut of the Rocket Mortgage digital application.

The Tell: Stock-market bull, who called rally off March lows, now says S&P 500 overvalued by 5% to 10%

Sat, 08 Aug 2020 10:35:53 -0400

Stifel’s Barry Bannister says the stock market may be rallying on false hopes, while ignoring the danger of long-term economic damage and near-term risk.

Market Extra: A bullish ‘golden cross’ forms in the Dow industrials

Sat, 08 Aug 2020 10:32:00 -0400

A golden cross has formed in the Dow Jones Industrial Average, more than five months after a bearish chart pattern materialized in the aftermath of the carnage wrought by the COVID-19 pandemic.

Wyoming’s Drilling Rig Count Hits Zero: What That Means For The State And Its Economy

David Blackmon, Senior Contributorhttps://www.forbes.com/sites/davidblackmon/ — Sat, 08 Aug 2020 10:31:25 -0400

According to Baker Hughes , the rig count in the Cowboy State fell to zero for the second time this summer, and also for just the second time in the last 136 years.

Berkshire Hathaway profits surge despite near-$10bn writedown

Sat, 08 Aug 2020 10:28:01 -0400

Second-quarter net income at Warren Buffett’s conglomerate rises by 87% on the previous year

Brett Arends's ROI: Thinking about retiring early? You may want to think again

Sat, 08 Aug 2020 10:24:26 -0400

Watch out, FIRE fans: New reports say retiring early can give you Alzheimer’s

Sturgis Motorcycle Rally Attracts Thousands, With Few Masks And Little Social Distancing (Photos)

Carlie Porterfield, Forbes Staffhttps://www.forbes.com/sites/carlieporterfield/ — Sat, 08 Aug 2020 10:16:13 -0400

Thousands poured into the streets of Sturgis, South Dakota for 10 days of mask-free celebrations.

Trump’s ban against WeChat owner Tencent could have huge implications for U.S. companies

Sat, 08 Aug 2020 10:13:33 -0400

Did President Donald Trump just blow up the U.S. videogame industry?

Outside the Box: Robinhood investors are beating the stock market — and here’s the data that proves it

Sat, 08 Aug 2020 10:07:12 -0400

Shockingly, there are very few times that Robinhood investors on average performed materially worse than the market.

China Drug Maker’s Shares Soar On COVID-19 Vaccine Pact With AstraZeneca

Russell Flannery, Forbes Staffhttps://www.forbes.com/sites/russellflannery/ — Sat, 08 Aug 2020 10:03:35 -0400

Shares among leading China pharmaceutical makers have soared amid the COVID-19 pandemic.

Outside the Box: What’s the problem with the 4% rule?

Sat, 08 Aug 2020 09:52:00 -0400

How to budget for the rest of your life

Need to Know: Bank of America strategist: ‘I’m so bearish, I’m bullish’

Sat, 08 Aug 2020 09:50:13 -0400

With liquidity in ample supply, one strategist says the S&P 500 will continue to march higher — for a bit.

Economic Preview: The U.S. economy took another body blow from Covid-19 in July. But just how bad was it?

Sat, 08 Aug 2020 09:40:01 -0400

Whew ! Turns out the economy didn’t get hurt as badly in July from a resurgence in coronavirus cases as Wall Street feared. But make no mistake: The U.S. recovery took a blow.

Mortgage rates fall to a record low for the eighth time this year, making buying a home more affordable for many Americans

Sat, 08 Aug 2020 09:32:58 -0400

While home buyers may have plenty of options for cheap financing, they won’t have much choice about what properties they can purchase.

What’s Next In 2020?

Sat, 08 Aug 2020 09:31:26 -0400

2020 has seen many dramatic events, and is in many ways a historic turning point. What could possibly happen next?

Taylor Swift Holds At No. 1 In The U.K. As Alanis Morissette Starts Her New Album Inside The Top 10

Hugh McIntyre, Contributorhttps://www.forbes.com/sites/hughmcintyre/ — Sat, 08 Aug 2020 09:30:00 -0400

Three brand new albums debut inside the top 10 while Swift rules for a second frame.