As the world’s leading pharma companies race to develop vaccines for coronavirus, one man in India claims to have already found the cure. Baba Ramdev, a black-bearded yoga televangelist close to Prime Minister Narendra Modi, is pushing ahead with sales of coronavirus kits containing traditional ayurvedic remedies, despite official warnings against branding them as a cure for the disease. Mr...
California Resources Bankruptcy Is A Very Unusual Ch.11 Bankruptcy Case (OTCMKTS:CRCQQ)
The Ch.11 bankruptcy of California Resources Corp. (OTCPK:CRCQQ) is becoming an interesting bankruptcy case study. The original RSA was significantly changed only about a week after it was announced. First-priority lien debt holders are getting the same recovery as unsecured noteholders. While the largest oil producer in California was hit hard by lower energy prices and having too much debt,...
Yates Throws “Rogue” Comey Under The Bus Over Flynn Investigation
Former Deputy Attorney General Sally Yates threw former FBI Director James ‘higher loyalty’ Comey under the bus on Wednesday, telling the Senate Judiciary Committee that the FBI’s January, 2017 interview of former national security adviser Michael Flynn was done without her authorization – and she was upset when she found out about it. “I was upset that Director Comey didn’t...
U.S. House Democrats urge SEC to dig into Kodak transactions
FILE PHOTO: A worker cleans a Kodak booth at the Las Vegas Convention Center in preparation for 2019 CES in Las Vegas, Nevada, U.S. January 6, 2019. REUTERS/Steve Marcus/File Photo WASHINGTON (Reuters) – The head of the U.S. House Financial Services Committee and other top Democratic lawmakers on Wednesday asked federal regulators to investigate securities transactions made by Eastman Kodak...
Natural Gas Has Replaced Over 100 U.S. Coal Plants In The Last Decade
A total of 103 coal-fired power plants were converted to natural gas or replaced by natural gas-fired plants in the United States since 2011, the Energy Information Administration (EIA) said on Wednesday. Natural gas has displaced the majority of the 121 coal-fired plants that have been converted to burning other types of fuels over the past decade, according to EIA...
Millions Worth of PPP Loans Went to Chinese-Owned Companies, Report Finds
Authored by Cathy He via The Epoch Times A man looks at a J-31 gyrfalcon stealth fighter plane model designed by Aviation Industry Corporation of China (AVIC) at the Beijing International Aviation Expo in Beijing on Sept. 17, 2015. (WANG ZHAO/AFP via Getty Images) Hundreds of millions of U.S. taxpayer dollars went to Chinese companies from the Paycheck Protection...
Boeing faces $1.25m fines over treatment of safety staff
Boeing harassed and threatened its in-house safety inspectors and retaliated against one who complained, according to the US Federal Aviation Administration, which proposed fines of $1.25m against the aircraft manufacturer over the alleged behaviour. The accusations, in a letter sent to Boeing on Wednesday, related to a controversial programme under which the FAA, the US regulator, delegates certain responsibilities for...
Services trade deficit narrows in first half
Actresses promote the China International Fair for Trade in Services scheduled for early September in Beijing. [Photo/Xinhua] Negative list for cross-border orders may be introduced by end of this year China’s services trade structure maintained its steady improvement during the first six months of this year with a narrowing deficit and strong resilience in the trade of knowledge-intensive services, according...
Stunned by gold’s record rise? There’s more to come, analysts say
Via Yahoo Finance Stunned by gold’s record rise? There’s more to come, analysts say UK markets open in 6 hours 27 minutes NIKKEI 225 22,459.22 -55.63(-0.25%) HANG SENG 25,102.54 +155.91(+0.62%) CRUDE OIL 42.18 -0.01(-0.02%) GOLD FUTURES 2,053.00 +3.70(+0.18%) DOW 27,201.52 +373.05(+1.39%) BTC-GBP 8,926.14 -34.23(-0.38%) CMC Crypto 200 156.75 0.00(0.00%) Nasdaq 10,998.40 +57.23(+0.52%) ...
Pompeo threatens broader crackdown on China apps
Mike Pompeo, the US secretary of state, has threatened a broad crackdown on Chinese tech companies with access to American data, including barring an unspecified number of the country’s apps and limiting its cloud computing groups that operate on American soil. The threatened restrictions also include blocking Chinese telecoms companies from carrying international US calls and doing more to protect...
Healthpeak Properties, Inc. (PEAK) CEO Thomas Herzog on Q2 2020 Results – Earnings Call Transcript
Healthpeak Properties, Inc. (NYSE:PEAK) Q2 2020 Earnings Conference Call August 5, 2020 12:00 PM ET Company Participants Barbat Rodgers – Senior Director, IR Thomas Klaritch – EVP & Chief Development & Operating Officer Scott Brinker – President & CIO Peter Scott – EVP & CFO Thomas Herzog – CEO Conference Call Participants Jordan Sadler – KeyBanc Capital Markets Vikram Malhotra...
Uber to buy UK taxi tech firm Autocab
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez/File Photo LONDON (Reuters) – Uber (UBER.N) said on Thursday it was buying the British tech company Autocab, which sells booking and dispatch software to private hire firms, in a move that will allow the taxi app to reach customers where it does not...
The Difference Between Good Economics And Bad
Submitted by Michael Lebowitz and Jack Scott of Real Investment Advice The Difference Between Good Economics and Bad “Real protection means teaching children to manage risks on their own, not shielding them from every hazard.” ― Wendy Mogel, The Blessing of a Skinned Knee In the five weeks from February 19 to March 26, 2020, the S&P 500 fell 33.9%....
Top 40 U.S. Stocks at the Swiss National Bank: Gains, Bought, Sold, and How the SNB Can Keep that Racket Going
Via Wolf Street As long as the SNB can fool speculators into chasing after the incredibly watered-down tiny Swiss franc, it can continue to print money to buy up global assets at essentially no cost. By Wolf Richter for WOLF STREET. The Swiss National Bank – now a fund that prints its own money to buy global assets denominated in foreign currency –...
China’s Crude Oil Imports Drop From Record Highs
China’s crude oil imports are estimated to have dropped in July by 3 percent from June, but they were still much higher than the import volumes in July 2019, data from energy analytics services provider OilX showed. Following record-high imports in June, China is expected to have imported on average 11.55 million bpd in July, down by 373,000 compared to...
The cargo that blew up Beirut: Sailor REVEALS troubled history of doomed ship that brought TONS of explosive fertilizer to Lebanon
Via RT The explosion that devastated Beirut has been linked to a mishandled ammonium nitrate cargo confiscated from a foreign ship. Now a former crew member tells RT the vessel, owned by a dodgy businessman, was a disaster in the making. Some 2,750 tons of ammonium nitrate – a highly explosive fertilizer – went up in a terrifying blast in...
China crackdown on shadow banking sector prompts warning
China’s efforts to curb predatory lending to the country’s small and medium-sized enterprises could harm the sector rather than helping it by cutting off access to crucial finance, analysts have warned. Multiple shadow banking lenders have told the Financial Times they would stop servicing medium to high-risk borrowers after the Supreme Court announced a plan last month to “significantly” cut...
Hezbollah Linked To Stockpiles Of Ammonium Nitrate Uncovered In Europe: Report
In the immediate aftermath of the massive explosion that rocked Beirut yesterday, killing over 100 and leaving more than 4,000 injured while leveling an entire district of the city, and leaving destruction up to miles away, both the Israeli government and Hezbollah denied having anything to do with it, or that it was the result of missile attack, sabotage, or bombing....
Extra Space Storage Inc. (EXR) CEO Joe Margolis on Q2 2020 Results – Earnings Call Transcript
Extra Space Storage Inc. (NYSE:EXR) Q2 2020 Results Conference Call August 5, 2020 1:00 PM ET Company Participants Jeff Norman – Vice President, Investor Relations Joe Margolis – Chief Executive Officer Scott Stubbs – Executive Vice President and Chief Financial Officer Conference Call Participants Rick Skidmore – Goldman Sachs Smedes Rose – Citibank Jeff Spector – Bank of America Todd...
How COVID Could Clean Up Airline Emissions
It’s been nearly 12.5 years since Virgin Atlantic flew a Boeing 747 between London and Amsterdam partly powered by a biofuel made from Brazilian babassu nuts and coconuts. Although Sir Richard Branson labeled the event a “vital breakthrough”, many observers dismissed it as just another one of his outlandish PR and marketing stunts. And they might have been right. More...