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General Dynamics Board Declares Dividend
Wed, 05 Aug 2020 15:55:00 -0400
The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.10 per share on the company's common stock, payable November 13, 2020, to shareholders of record on October 9, 2020.


Defense Secretary Esper says Beirut blast probably an accident, breaking with Trump
Wed, 05 Aug 2020 15:54:36 -0400
Defense Secretary Mark Esper contradicted President Trump on the cause of the blast that killed at 135 people and wounded 5,000.


Thom Browne Designs Latest Samsung Devices
Wed, 05 Aug 2020 15:53:25 -0400
The American fashion designer brings his signature flair to some of Samsung's newest gadgets.


Instagram's hashtag searches gave Trump better treatment than Biden
Wed, 05 Aug 2020 15:53:21 -0400
Instagram apparently handled searches for popular hashtags related to the two presidential candidates differently, pointing Joe Biden search queries toward often negative related hashtags while making no such suggestions in corresponding searches pertaining to President Trump. A new report by the Tech Transparency Project details the strange platform behavior. In the report, the tech watchdog compared searches for 20 popular hashtags related to the Trump and Biden campaigns and found that related hashtag suggestions were disabled for the Trump-related searches, including #donaldtrump, #trump, #draintheswamp and #trump2020.


Samsung unveils Galaxy Z Fold 2 and Note 20 smartphones
Wed, 05 Aug 2020 15:53:14 -0400
The Galaxy Z Fold 2 now has a much bigger display on its outside for use when closed.


Solar Plus Development, Inc. and Avondale Solar, LLC agree to jointly develop 400 MWac solar project with J-POWER USA Development Co., Ltd.
Wed, 05 Aug 2020 15:53:00 -0400
Solar Plus Development, Inc. ("SPDI"), a subsidiary of Plus Renewable Technologies, Limited ("Plus") and Avondale Solar, LLC ("Avondale") have entered into an agreement with J-POWER USA Development Co., Ltd. ("J-POWER USA") to jointly develop a 400 MWac solar PV project in Refugio County, Texas ("Charger Solar") that they have been developing via their equally owned joint venture company, AP Solar Holdings, LLC ("AP Solar"),


SEC official who helped spearhead ICO enforcement actions is leaving the agency
Wed, 05 Aug 2020 15:52:35 -0400
The Securities and Exchange Commission announced Wednesday that Division of Enforcement co-director Steven Peikin will leave the agency this month. The post SEC official who helped spearhead ICO enforcement actions is leaving the agency appeared first on The Block.


Three Partners Selected to 2020 Super Lawyers at Sacramento Law Firm Kershaw, Cook & Talley
Wed, 05 Aug 2020 15:51:00 -0400
As a premier class action, mass tort, and personal injury law firm serving Sacramento and across the nation with over 100 years of combined experience, Kershaw, Cook & Talley has built a powerful reputation for getting results, earning many awards and honors in the process. Now, the firm is pleased to share that three of its personal injury Partners have been selected to the 2020 Super Lawyers list!


Craving a Cheetos meal? Mac 'n Cheetos to be available in three flavors starting August 8
Wed, 05 Aug 2020 15:50:24 -0400
Cheetos is launching a new product line of mac and cheese starting August 8.


Joe Biden won't travel to Milwaukee for 2020 DNC because of coronavirus concerns
Wed, 05 Aug 2020 15:48:29 -0400
Citing concerns over coronavirus, organizers announced Wednesday that speakers for the convention will no longer travel to Milwaukee.


DoorDash launches a convenience store
Wed, 05 Aug 2020 15:46:31 -0400
On-demand delivery startup DoorDash has launched a digital storefront to sell household items, as well as the types of things you'd find at a convenience store. Called DashMart, the convenience store is available in eight cities throughout the U.S. and plans to launch in additional cities over the next few months. The move into the virtual storefront comes a few months after DoorDash partnered with more than 1,800 convenience stores throughout the country to better respond to the needs of customers during the COVID-19 pandemic.


Global Integrated Workplace Management System Market (2020 to 2025) - An Untouched Geographic Market Presents Opportunities
Wed, 05 Aug 2020 15:45:00 -0400
The "Integrated Workplace Management System (IWMS) Market by Offering (Solution and Services (Professional & Managed)), Deployment Type, Organization Size, Vertical (Real Estate & Construction, Healthcare, Retail, Education), and Region - Global forecast to 2025" report has been added to ResearchAndMarkets.com's offering.


How safe is Capitol Hill from COVID-19? Here's what we know.
Wed, 05 Aug 2020 15:44:58 -0400
Despite its members belonging to high-risk age groups for COVID-19, Congress and the Capitol have inconsistencies about safety measures.


Treasury Metals Receives Shareholder Approval for Acquisition of Goldlund Project
Wed, 05 Aug 2020 15:44:00 -0400
Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce that its shareholders have approved all items of business brought before them at the Company's annual and special meeting of shareholders held today (the "Meeting") including overwhelmingly in respect of the previously announced share purchase agreement (the "Agreement") with First Mining Gold Corp. ("First Mining") pursuant to which Treasury will acquire all of the issued and outstanding shares of Tamaka Gold Corporation, a wholly-owned subsidiary of First Mining that owns a 100% interest in the Goldlund Gold Project ("Goldlund"), located adjacent to Treasury's Goliath Gold Project in Northwestern Ontario (the "Transaction").


Treasury Metals Receives Shareholder Approval for Acquisition of Goldlund Project
Wed, 05 Aug 2020 15:44:00 -0400
TSX: TML OTCQX: TSRMFTORONTO, Aug. 5, 2020 /CNW/ - Treasury Metals Inc.


These 4 Measures Indicate That Old Dominion Freight Line (NASDAQ:ODFL) Is Using Debt Reasonably Well
Wed, 05 Aug 2020 15:42:32 -0400
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...


Worried about another slump, many firms hire temporary workers instead of permanent staffers
Wed, 05 Aug 2020 15:42:19 -0400
Many businesses are hiring temporary workers and contractors because they can be easily let go if the economy turns south again


Brazil's Embraer reports $315 mln in losses
Wed, 05 Aug 2020 15:40:51 -0400
Brazilian aircraft manufacturer Embraer reported second quarter losses of $315 million Wednesday, as sales plunged due to the coronavirus pandemic and a proposed joint venture with Boeing collapsed. In the second three-month stretch of last year, by comparison, Embraer posted profits of $7.2 million. This time the company's hardest hit branch was commercial aviation, which fell 82.8 percent compared with the same period of last year -- it delivered only four commercial airliners compared to 26 back then.


Democrats Propose Requiring Fed to Reduce Inequality in U.S.
Wed, 05 Aug 2020 15:37:51 -0400
(Bloomberg) -- Democrats in Congress have introduced a bill that would cement the Federal Reserve’s role in fighting economic inequality.The Federal Reserve Racial and Economic Equity Act would amend the Federal Reserve Act and mandate that the U.S. central bank specifically work to decrease and eliminate gaps in employment, wages, wealth and access to credit. It would also require the central bank to report on racial disparities and how it’s working to decrease them in its biannual reports to Congress and in the Fed chair’s accompanying testimony.Although the bill has little chance of passing through Congress while the Senate is controlled by Republicans, its introduction shows that momentum is building to get the country’s century-old central bank to more specifically focus on creating an economy that is equal for all Americans. A November win for Joe Biden and his Democrats that gave them control of the White house and both chambers of Congress could also change the calculus.“Building on the great work of civil rights leader Coretta Scott King and others who led the way for the adoption of the Fed’s full employment mandate, the Federal Reserve Racial and Economic Equity Act creates a new racial justice mission at the Fed to eliminate racial and economic disparities in all of its work,” Representative Maxine Waters said in a statement Wednesday.The bill was introduced this week by Waters, chair of the House Financial Services Committee, and Senators Elizabeth Warren and Kirsten Gillibrand and was signed on by 17 other Democrats.‘Disparate Distributional Outcomes’The Biden campaign called for a similar proposal last week. Economists Jared Bernstein and Janelle Jones have called on the Fed to target the Black unemployment rate when it makes policy decisions in order to narrow the gap between White and Black unemployment.The difference between the rates has been persistently high, with the Black rate often more than double the White one. Black families also have one-tenth the wealth of White families, indicating systemic problems in the economy that continue to hamper upward mobility and opportunity for millions of Americans.Fed Chair Jerome Powell said in May that the Fed’s policies do not exacerbate inequality. He said last week that the central bank doesn’t have the tools to address “disparate distributional outcomes” and indicated that fiscal policies may be better suited to address these problems in the economy. He has, however, said that the Fed has learned that it can run the economy hotter than thought without sparking unwanted inflation, and as a result the benefits of a tight labor market can be extended to poorer and minority communities.Community ReinvestmentThe bill also instructs the Fed to enforce fair lending laws and implement the Community Reinvestment Act of 1977, a key piece of civil-rights legislation designed to address discriminatory lending practices. In its bank supervisory role, the Fed already oversees lenders for CRA compliance.The Office of the Comptroller of the Currency, another regulator with oversight of the CRA, finalized a rule in May making significant changes which was criticized by banks and community groups. The Fed is moving ahead with its own proposal to update the legislation.Banking regulation can have an impact on inequality. A report Tuesday by the New York Fed highlighted weak relationships between banks and Black-owned business for handicapping the extent that the government’s Paycheck Protection Program reached such firms.(Updates with CRA details starting in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


Demotech to Host Insurance Webinar on Florida Residential Property Insurance
Wed, 05 Aug 2020 15:37:00 -0400
Demotech, Inc., the first rating service to review and rate independent, regional, and specialty insurance companies and the rating service of choice for residential property insurers focused on Florida, announces its second webinar in its 2020 series on Florida residential property insurance: A Tale of Two Tails.


U.S. Pest Protection Inaugural Pest Control Service Center in the Expanding Murfreesboro, TN; Experiencing Growth Amid Pandemic
Wed, 05 Aug 2020 15:37:00 -0400
U.S. Pest Protection has opened a pest control service location in Murfreesboro, Tennessee amidst the COVID-19 coronavirus pandemic and nationwide economic struggles for small businesses.


California’s Second-Deadliest Day; NYC Checkpoints: Virus Update
Wed, 05 Aug 2020 15:37:00 -0400
(Bloomberg) -- California had its second-worst day for virus fatalities and Florida’s case count topped 500,000. Houston hospitalizations fell to a five-week low. New York City is setting up checkpoints at key entry points to make sure travelers from 35 states or territories with high transmission rates fill out forms to enforce state quarantine rules.Joe Biden will accept the Democratic Party’s nomination from Delaware rather than risk traveling to Milwaukee. Chicago public schools, the country’s third largest school district, will have remote learning when classes resume next month as cases spike.Johnson & Johnson will supply 100 million doses of its experimental Covid-19 vaccine to the U.S. The U.K. agreed to invest $18 million in a Scottish vaccine-manufacturing plant, while Moderna Inc. said it has received $400 million of deposits for its potential Covid-19 shot. The global death toll from Covid-19 surpassed 700,000.Key DevelopmentsGlobal Tracker: Global cases top 18.6 million; deaths pass 702,000U.S. states form bipartisan testing plan as government dawdlesJapan’s virus rise erodes support for Prime Minister AbeNovavax shares go on wild swing after early vaccine dataIreland’s pubs face “devastating” blow with reopening postponedSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on coronavirus cases and deaths.California Has Second-Deadliest Day (3:25 p.m. NY)California reported 202 new virus deaths, marking its second-deadliest day of the pandemic. The state has had 9,703 Covid fatalities.Confirmed cases rose by 1%, or 5,295, to a total of 524,722. That was less than the 14-day average of 7,939 daily new infections, extending what Governor Gavin Newsom described earlier this week as an “encouraging” trend. Still, the data may be incomplete. The state has found some discrepancies in its health systems that have led to cases being underreported, Health Secretary Mark Ghaly said in a briefing Tuesday.The data problems may also have affected the test positivity rate, which on Wednesday fell to 6.4% on a 14-day basis, the lowest in a month. But there are more concrete signs of improvement in California’s outbreak: Hospitalizations, unaffected by the reporting issues, have dropped 14% from a peak two weeks ago.NCAA Says Athletes Must Have Choice (2:30 p.m. NY)The National Collegiate Athletic Association Board of Governors required U.S. schools and conferences to allow student-athletes to opt out of participating because of concerns about contracting the coronavirus if they want to conduct fall sports amid the pandemic.If an athlete does so, his or her athletics scholarship must be honored by the school, the NCAA said Wednesday in a statement. Divisions must decide by Aug. 21 if their fall sports seasons and NCAA championships should occur this year, according to the board.“Student-athletes should never feel pressured into playing their sport if they do not believe it is safe to do so,” NCAA President Mark Emmert said in the statement. “These policies ensure they can make thoughtful, informed decisions about playing this fall.”Houston Hospitalizations Decline (1:10 p.m. NY)Houston-area virus hospitalizations dropped to the lowest since June 28 and are on track to continue declining through at least Aug. 18, the Texas Medical Center said .A broader, regional census of hospitals in Houston and eight surrounding counties tallied a 2.9% decline in intensive-care virus patients in the 24-hour period ended Tuesday night. Earlier this week, the figure touched the lowest since June 30, according to the SouthEast Texas Regional Advisory Council.CDC Warns Against Drinking Hand Sanitizer (1:05 p.m. NY)A rash of poisonings and four deaths in May and June were tied to drinking hand sanitizer that contained methanol in Arizona and New Mexico, the Centers for Disease Control and Prevention reported. The incidents happened after President Donald Trump mused on ingesting disinfectants to treat the novel coronavirus.The agency detailed 15 cases of methanol poisoning in its weekly report, including four patients who remain hospitalized and three who were released with permanent visual impairment. Just four of the 15 fully recovered, the agency said Wednesday.The CDC’s report focused on products that contain methanol, which isn’t considered an acceptable ingredient in hand sanitizer because of its risks. The U.S. Food and Drug Administration has identified 67 alcohol-based hand sanitizers that contain methanol and are now being recalled. Both agencies advise consumers to check products to ensure they don’t include methanol.Biden to Skip Milwaukee for Convention (12:45 p.m. NY)Joe Biden won’t travel to Milwaukee this month to accept the Democratic nomination for president at the party’s convention due to concerns about the coronavirus and will deliver his acceptance speech from his home state of Delaware, where he’s done most of his campaigning since mid-March.The Democratic National Convention Committee announced Wednesday that no speakers will travel to Milwaukee for the convention on the advice of health officials. Biden had been expected to attend the convention in person and deliver his acceptance speech on Aug. 20, the last night.Most of the speeches were already slated to be virtual and Biden would have been one of the only people to deliver an in-person speech. Delegates to the convention had already been told not to travel, and the official party business was moved online.Arizona Testing Doubles (11:55 a.m. NY)Arizona reported 1,698 new Covid-19 cases on Wednesday, an increase of 0.9% from the day before, amid a surge in testing. The seven-day average of new cases eased to 1.1%. The state Department of Health Services also reported 87 deaths, bringing the total to 3,932.Testing numbers almost doubled in the state, and the positivity rate fell to 13% from 14.8% on Tuesday. In Maricopa County, the state’s most populous, health officials reported 14.8% positive tests, below the 16.3% rate from the previous day.Chicago Schools Go Online (11:25 a.m. NY)Chicago Public Schools, the third-largest school system in the U.S., will begin the 2020-2021 academic year with full remote learning amid an increase in the city’s coronavirus cases. The district will work with the Chicago Department of Public Health to assess if it’s safe to open to hybrid learning in the second quarter on Nov. 9.The decision is based on public health data and survey results from parents that indicate a large portion are “not yet comfortable sending their children to school,” according to an emailed statement from the city Wednesday. Classes are set to start Sept. 8.Florida Tops 500,000 Cases (11 a.m. NY)Florida reported 502,739 Covid-19 cases on Wednesday, up 1.1% from a day earlier, compared with an average increase of 1.7% in the previous seven days. Deaths among residents reached 7,627, an increase of 225, or 3%, according to the report, which includes data through Tuesday.The rate of people testing positive for the first time was steady at 10.9%, but new hospitalizations hit 621, the highest on record. But another gauge of the number of Covid-19 patients currently in Florida’s hospitals has shown the numbers ticking down in recent days.NYC Checkpoints to Enforce Travel Rules (10:45 a.m. NY)New York City Mayor Bill de Blasio said travelers who have visited 35 states or territories with high Covid-19 transmission rates are required to complete the state’s traveler form as they pass through checkpoints at key entry points into the city.The travelers are required quarantine for 14 days upon arrival. The Sheriff’s Office, in coordination with other law enforcement agencies, will operate registration checkpoints at major bridge and tunnel crossings into New York City to ensure people coming from these states complete health forms to support contact-tracing efforts.Rapid Vaccine Works No Safety Threat: Fauci (10:30 a.m. NY)The rapid speed at which researchers are developing coronavirus vaccines doesn’t mean that safety is being sacrificed, said Anthony Fauci, the U.S. government’s top infectious-disease expert.“The rapidity with which we are moving relates more to technological advances with how you can make a vaccine even before you start testing it,” Fauci, the head of the National Institute of Allergy and Infectious Diseases and one of the top U.S. health officials, said on Wednesday in an interview with Bloomberg Television.The Trump administration is spearheading the vaccine push out of a program it created called Operation Warp Speed, a name Fauci has criticized for giving the impression that development is being rushed. The Food and Drug Administration has said a vaccine must work in at least 50% of patients before it will approve the shot.Swedish Economy Proof of Herd Plan (9:30 a.m. NY)Sweden’s finance minister says the country’s light-touch lockdown may have contributed to a less severe contraction in the economy. Finance Minister Magdalena Andersson said in an interview in Stockholm that the decline in second-quarter GDP was “slightly less than we expected in June and it’s less than in many other countries.”But the controversial virus strategy has also coincided with one of the world’s highest death rates, relative to population, and the government has admitted more should have been done at the outset to test people and protect the elderly.UConn Cancels Football Season (9:16 a.m. NY)The University of Connecticut has canceled its football season as the safety challenges created by virus placed the athletes at “an unacceptable level of risk,” David Benedict, the director of athletics, said Wednesday.The football team has been on campus since early July and no student-athletes tested positive for the virus.Big Events Won’t Be Back Soon: WHO (8 a.m. NY)Large sporting matches and music festivals pose special dangers due to the crowds involved and only countries that have the virus under control should allow them, but they need to do so gradually and limit the number of spectators, said Mike Ryan, head of the World Health Organization’s Health Emergencies Program.“We all want sport back, we all want our festivals back,” he said Wednesday. “But it’s very unrealistic in countries with community transmission that we’re going to see large gatherings like that this year.”People need to consider all social events’ risks, said Maria Van Kerkhove, the WHO’s top epidemiologist on Covid-19. “It’s not only the football matches,” she said. “This should be considered about birthday parties, about sleepovers.”Countries experiencing intense transmission throughout the population need to be careful about schools, Ryan said. “We have to do everything possible to bring our children back to school, and the most effective thing that we can do is to stop the disease in the community.”Scotland Locks Down Oil Hub (7:46 a.m. NY)Scotland reimposed lockdown restrictions on travel and indoor gatherings between households in Aberdeen, the country’s oil hub, after a spike in new coronavirus cases, First Minister Nicola Sturgeon said.“This shows what can happen if we let our guard drop and it should serve as a warning to all of us,” the Scottish leader said. “The risk of an even more significant outbreak is very real, which is why we have to take the decisive action we’ve announced today.”Moderna Books $400 Million of Vaccine Deposits (7:44 a.m. NY)Moderna Inc. said it has received $400 million of deposits so far for potential supply of its Covid-19 vaccine, as part of discussions with several countries.Investors are waiting to see if Moderna strikes a deal to sell a big supply of its vaccine to the U.S. Its competitor Pfizer Inc. already has such a deal, at just under $40 for a two-shot regimen.Vietnam Confirms 41 New Virus Cases (7:42 a.m. NY)Vietnam reported 41 new coronavirus cases, with 40 tied to the coastal city of Danang and one returning from Russia, bringing the country’s total infections to 713, according to the health ministry.Since the Danang outbreak started July 25, authorities have placed 20,645 people in quarantine centers, isolated 1,565 people in hospitals and ordered 97,831 others to stay home.WHO Sends Team to Virus-Hit South Africa (6:51 a.m. NY)The World Health Organization is sending 43 specialists to South Africa, which has more than half a million confirmed cases and expects infections to peak near the end of August.South Africa has seen reduced hospital admissions in recent weeks, and its official virus death rate at 8,884 people is relatively low, though medical researchers have found a discrepancy between the confirmed fatalities and the number of excess natural deaths.All sudden deaths as well as those that occur at home must now be evaluated for the virus before a death certificate is issued, Health Minister Zweli Mkhize told reporters Wednesday.Animal Tourism Under Threat (6:27 a.m. NY)Africa’s wildlife tourism industry, which usually generates $29 billion a year and employs 3.6 million people, is under threat as the coronavirus has brought leisure travel to a near halt, a report published in Nature Ecology & Evolution said.WH Smith to Cut 1,500 Jobs (6:23 a.m. NY)WH Smith Plc plans to eliminate 1,500 jobs in a fresh blow to Britain’s retail sector, which is struggling to recover from the pandemic lockdown.The newsagent and stationery retailer said it had to reduce costs as its business continues to suffer from a low level of customer visits. Most of the job cuts will come from stores located in airports and railway stationsPoland Has Most Deaths in 5 Weeks (5:35 p.m. HK)Poland reported 18 new coronavirus-related deaths in the past 24 hours, the most in a day since June 30, taking the total to 1,756 as an outbreak in the country’s industrial heartland worsens.The pace of new cases slowed from Tuesday’s record 680, rising by 640 to 48,789, mostly in the southern coal mining region of Silesia and at a poultry processing company in the western district of Wielkopolska.Experts Shoot Down Osaka’s Gargling Claim (5:07 p.m. HK)There’s not enough evidence to support a claim that gargling with diluted povidone-iodine could prevent mild coronavirus patients from falling seriously ill, Toshio Nakagawa, chairman of the Japan Medical Association, told reporters Wednesday. The World Health Organization Centre for Health Development also added to skepticism.“I understand that the governor must be very concerned about the sudden growth of cases in his region and is looking for some positive news,” said Nakagawa, adding that “we should keep calm and research it.”Shelves across Japan were stripped clean of popular brands after Osaka Governor Hirofumi Yoshimura’s comments. Fears are growing of a new virus wave coming to Japan.Hong Kong Outbreak Slowing (4:39 p.m. HK)Hong Kong reported fewer than 100 local coronavirus cases for the third straight day, as the city’s worst outbreak shows signs of abating under tightened restrictions.The Asian financial hub added a total of 82 local infections on Wednesday, according to data from the city’s health department. Thirty-three were unlinked to previous cases. The results come after Hong Kong reported 75 local cases on Tuesday and 80 on Monday.Euro-Area Recovery Stronger Than Expected (4:00 p.m. HK)Businesses in the euro zone saw stronger-than-initially reported growth in July, with output expanding for the first time since lockdowns in March.Services providers and manufacturers both saw activity pick up. A composite purchasing managers’ index rose to 54.9, the highest level in just over two years and above a flash estimate. Orders increased for the first time in five months.Taiwan Requires Japan Visitors Isolate (3:23 p.m. HK)Travelers from Japan will now need to undergo 14-day quarantine when entering Taiwan, Taiwan Centers for Disease Control said, after the country was dropped from a list of areas that posed a low to mid-level of virus risk due to a surge in cases.Virus Will Be in Germany ‘Long Time’ (1:45 p.m. HK)The coronavirus will be in Germany “for a long time” and the health care system must be ready to cope if infections rise further, the World Medical Association Council Chairman Frank Montgomery said on DLF radio.The country has seen an uptick in daily infections in recent days compared with mid-July. The number of cases rose by 717 in the 24 hours through Wednesday, taking the total to 212,828, according to data from Johns Hopkins University.U.K. to Invest in Vaccine Factory (1 p.m. HKT)The U.K. government and Valneva SE will each invest 14 million pounds ($18 million) in a Scottish plant that will make the French biotech firm’s Covid-19 vaccine, a person with knowledge of the matter said. Britain has reached deals for at least 250 million doses from four different vaccine developers in recent weeks, giving it one of the highest number of doses per capita globally.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


Are Oil-Dri Corporation of America's (NYSE:ODC) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
Wed, 05 Aug 2020 15:36:26 -0400
Oil-Dri Corporation of America (NYSE:ODC) has had a rough three months with its share price down 2.6%. It is possible...


US plan for 'highest level' Taiwan visit in decades angers China
Wed, 05 Aug 2020 15:35:54 -0400
The United States announced Wednesday its highest-level visit to Taiwan since it switched diplomatic recognition to China in 1979, a move Beijing blasted as a threat to "peace and stability". The visit, headed by health chief Alex Azar, comes as relations between the world's two biggest powers plunge to historic lows. Azar, speaking to Fox News, praised Taipei as an example of good governance, singling out its successful handling of the coronavirus pandemic.


GCI Consultants Announces Jason Bondurant Now A Registered Roof Consultant
Wed, 05 Aug 2020 15:35:00 -0400
GCI Consultants, LLC proudly announces that Jason E. Bondurant, RRC, EI, has joined an elite group of over 465 registered roof consultants (RRCs) in the United States and Canada. This designation was awarded after Bondurant passed a challenging examination given by the International Institute of Building Enclosure Consultants (IBEC).


Did Hedge Funds Make The Right Call On Corecivic Inc. (CXW)?
Wed, 05 Aug 2020 15:34:27 -0400
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]


The Highly Effective Sustained Acoustic Medicine (sam®) Device for Injury Treatment Is Covered by Personal Injury and Workers' Compensation Insurance
Wed, 05 Aug 2020 15:32:00 -0400
Sustained acoustic medicine (sam®) from ZetrOZ heals a wide range of injuries and relieves the pain caused by them - and the wearable device is covered by personal injury and workers' compensation insurance. The safe and effective treatment eliminates the need for expensive and time-consuming surgery, painful injections and costly prescription pain medication that can cause dependence.


SEMA Cancelled Due To COVID-19 Concerns
Wed, 05 Aug 2020 15:31:17 -0400
The premier automotive aftermarket trade show in the world is the latest cancellation due to the coronavirus.


Oppenheimer: These 3 “Strong Buy” Stocks Could See 120% Gains, If Not More
Wed, 05 Aug 2020 15:31:11 -0400
The “dog days” of summer are here, but it’s just as busy as ever on the Street. As earnings results continue to roll in, investors will be watching for any update on the next economic stimulus package along with the non-farm payroll report slated for release this Friday. Against this backdrop, plenty of questions remain, weighing on the minds of both institutional and private investors.In a recent note to clients, Oppenheimer’s Chief Investment Strategist John Stoltzfus addresses these concerns. When it comes to stocks’ disconnected state, he writes that the market tends to focus on the future, with it betting on a successful outcome based on the stimulus policy already put in place. But will this highly accommodative monetary policy eventually cause inflation?“We do not expect high levels of inflation to result from the extraordinary stimulus and monetary policy taken to deal with the Covid-19 pandemic. Federal Reserve vigilance against inflation (as well as vigilance by central banks around the world) is likely to be able to suitably address any flare up of inflation,” Stoltzfus commented.Bearing this in mind, we took a closer look at three stocks backed by the analysts at Oppenheimer, the third best-performing research firm, according to TipRanks. Running the tickers through TipRanks’ database, we learned Oppenheimer sees at least 120% upside potential in store for each, and all three have earned a “Strong Buy” consensus rating from the rest of the Street.Durect Corporation (DRRX)Developing innovative therapies based on its endogenous epigenetic regulator program, Durect believes it could potentially transform the treatment of acute organ injury and chronic liver diseases. As one of its candidates has delivered encouraging results, Oppenheimer sees an opportunity to get in on the action.Firm analyst Francois Brisebois recently told clients, “After several years of promising results, we believe DRRX's endogenous small molecule epigenetic regulator DUR-928 has finally found its home in the treatment of Alcoholic Hepatitis (AH). Given a high level of mortality (26% 1-month rate) and no viable treatment options, we believe DUR-928's fairly early robust Phase 2a efficacy and safety data could have it attacking this ~ $3 billion market opportunity with peak penetration as early as 2025.”Digging a bit deeper into this Phase 2a data, along with a robust safety profile, the trial showed that the therapy was able to rapidly reduce bilirubin, a marker of AH. In addition, there was a 100% response to treatment from the Lille score (mortality predictor tool) in 30mg and 90mg dosages and reduction in MELD (AH severity). Going forward, AH Phase 2b is set to begin in 2H20. “Given the potential to receive Breakthrough Therapy Designation (BTD) for treating a life-threatening condition with a substantial improvement over available therapies (mainly corticosteroids), launch could happen ahead of anticipation. Additionally, market exclusivity and pricing could be greater if Orphan Drug Designation (ODD) is awarded based on ~117,000 annual hospitalizations,” Brisebois added.Plenty of other catalysts are still ahead, in Brisebois’ opinion. DUR-928 is being evaluated in hospitalized COVID-19 patients with acute liver or kidney injury in a Phase 2 study and Phase 1b NASH data could be released during an upcoming conference. It should also be noted that it’s a “waiting game” for Posimir’s PDUFA, with the analyst considering “any related weakness as a buying opportunity.”All of the above makes Brisebois optimistic about DRRX’s long-term growth prospects. As a result, the analyst continues to assign an Outperform rating and $7 price target to the stock. Should his thesis play out, a potential twelve-month gain of 202% could be in the cards. (To watch Brisebois’ track record, click here) Brisebois’ colleagues are also pounding the table on DRRX. Only Buy ratings, 4, in fact, have been issued in the last three months, so the consensus rating is a Strong Buy. At $6, the average price target implies shares could climb 156% higher in the next year. (See DRRX stock analysis on TipRanks)Avadel Pharmaceuticals (AVDL)Hoping to address overlooked and unmet medical needs, Avadel Pharmaceuticals wants to provide solutions through its patient-focused and cutting-edge products. With Oppenheimer stating its asset has “disruptive potential in a proven blockbuster market,” the firm believes it might be time to snap up shares.  According to analyst Francois Brisebois, who also covers DRRX, AVDL is primarily focused on FT218, a once-nightly sodium oxybate designed for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. He goes so far as to call the candidate the company’s “first, second and third priorities,” noting that it recently sold its Hospital Drug Portfolio “to avoid distractions.”Looking at the pivotal Phase 3 REST-ON top-line data, Brisebois believes it “speaks for itself.” At the 9g dose, FT218 was able to produce a change from baseline in Maintenance of Wakefulness (MWT) of 10.82 minutes vs. 4.469 in placebo, in Clinical Global Impression-Improvement (CGI-I) of 72% vs. 31.6% and in Mean Weekly Cataplexy Attacks of -11.51 vs. -4.86, all three of the co-primary endpoints. “We were particularly impressed that the 6g and 7.5g doses also showed p<0.001 across all co-primary endpoints,” the analyst added.The implication? “Following strong efficacy and safety data, we believe FT218 could significantly disrupt Jazz Pharmaceuticals' Xyrem (twice-nightly sodium oxybate), which reported FY19 sales of $1.6 billion,” Brisebois said.While some investors have expressed concern regarding the company’s freedom to operate, Brisebois isn’t too worried. “We are comfortable with AVDL's freedom to operate path forward as we don't believe it will infringe on Xyrem's IP (REMS or DDI). Although FT218 does use the same drug substance, it consists of a substantially different drug product. The label should add more clarity,” he explained.Additionally, management has made a significant effort to drive a turnaround. Brisebois points out that since CEO Greg Divis was appointed in June 2019, he has offered clear guidance on enrollment, which has led to huge gains in the share price. He also mentioned, “Dr. Jordan Dubow's appointment as CMO was key because of his important role in adjusting the original study design (data a year ahead of expectations). New CFO Thomas McHugh's commercial experience is crucial.”Given everything that AVDL has going for it, it’s clear why Brisebois joined the bulls. In addition to initiating coverage with an Outperform rating, the analyst put a $19 price target on the stock. What does this mean for investors? Upside potential of 134% is at play.Overall, the bulls take the lead on this one. Out of 5 total reviews published in the last three months, all 5 analysts rated the stock a Buy. Therefore, the message is clear: AVDL is a Strong Buy. The $18.40 average price target implies shares could skyrocket 126% in the next twelve months. (See Avadel stock analysis on TipRanks)CymaBay Therapeutics (CBAY)Last but not least we have CymaBay Therapeutics, which develops therapies designed to improve the lives of patients with liver and other chronic diseases. Given its impressive technology, Oppenheimer has high hopes.Covering the stock for the firm, analyst Jay Olson points out that its seladelpar asset produced strong results in the ENHANCE Phase 3 study in PBC. As it was terminated early and there were only a small number of patients that reached 12 months, the primary endpoint was changed to 3 months. The revised primary composite and key secondary ALP normalization endpoints were both statistically significant at 10mg. “We believe these impressive efficacy results could set a new paradigm for physicians and patients as they strive to achieve ALP normalization,” the analyst commented.Going into more detail, 30% of patients in the study had moderate-to-severe pruritus, and the pruritus levels were balanced and representative of high-risk PBC patients, in Olson’s opinion. Unlike Ocaliva, which has a warning for severe pruritus with management strategies that include temporary dosing interruption, seladelpar was able to generate a substantial improvement in pruritus.Based on this promising data, CBAY could kick off a Phase 3 PBC study. “We expect CBAY to initiate this simplified Phase 3 PBC trial in 1Q21 with 12-month primary endpoint for pivotal data in 2023. The safety profile of seladelpar is similar to placebo and compares favorably to Ocaliva's which has a boxed warning for dosing in certain patients,” Olson stated.When it comes to the NASH indication, Phase 2b 52-week biopsy data, which showed a solid reduction in fibrosis and NASH resolution, could support seladelpar’s progression to Phase 3. It should be noted that CBAY might seek a partner here.With the company boasting a path forward in 2L PBC that could establish seladelpar as the standard of care, the deal is sealed for Olson. To this end, the analyst rates CBAY an Outperform (i.e. Buy) along with a $12 price target. This figure suggests 127.5% upside potential from current levels. (To watch Olson’s track record, click here)  Looking at the consensus breakdown, other analysts echo Olson’s sentiment. With 8 Buys compared to no Holds or Sells, the word on the Street is that CBAY is a Strong Buy. In addition, the $12 average price target is identical to the Oppenheimer analyst’s. (See CBAY stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis and to consider your own personal circumstances before making any investment.


Hotel giant puts 1,500 jobs at risk
Wed, 05 Aug 2020 15:30:57 -0400
About 1,500 staff at hotels managed by LGH have been told they are at risk of redundancy.


Ocular Therapeutix, Inc.'s (NASDAQ:OCUL) Path To Profitability
Wed, 05 Aug 2020 15:30:16 -0400
Ocular Therapeutix, Inc.'s (NASDAQ:OCUL): Ocular Therapeutix, Inc., a biopharmaceutical company, focuses on the...


RM LAW Announces Investigation of Eastman Kodak Company
Wed, 05 Aug 2020 15:30:00 -0400
RM LAW, P.C. announces an investigation on behalf of Eastman Kodak Company ("Kodak" or the "Company") (NYSE: KODK) investors concerning the Company and its officers' possible violations of federal securities laws.


Worldwide Online Entertainment Industry to 2027 - Surge in Expenditure on Digital Advertisement Presents Opportunities
Wed, 05 Aug 2020 15:30:00 -0400
The "Online Entertainment Market by Form, Revenue Model, Devices: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.


Broken Dam Goes Bankrupt, Blaming Regulators and Residents
Wed, 05 Aug 2020 15:28:51 -0400
(Bloomberg) -- The manager of a bankrupt Michigan dam company is blaming actions by regulators and residents for contributing to his dam’s collapse, which left entire communities flooded.“I am frustrated by years of unwillingness by homeowners to contribute to improvements that could have improved the dam for everyone, and with the regulatory decisions that directly caused this catastrophe,” said Lee Mueller, a managing member at Boyce Hydro LLC and Boyce Hydro Power LLC, in a bankruptcy declaration filed Aug. 3.Two of Boyce’s dams collapsed after days of heavy rain in late May. The Edenville Dam was breached on May 19, unleashing water that subsequently destroyed the company’s Sanford Dam. More than 10,000 people were evacuated from the city of Midland and the surrounding area.Boyce filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in the Eastern District of Michigan on July 31. It estimated assets at $10 million to $50 million and liabilities of $1 million to $10 million. The company had four dams along the Tittabawassee River that were built in the early 1920s, according to court documents.In May, Boyce blamed the surrounding communities for the collapse, saying they rejected funding to upgrade the dam structures, which would have enabled the Edenville Dam to withstand more water. The privately held company said it couldn’t afford additional spillway capacity in court documents, and that its efforts to lower the water upstream to safe levels in prior years met intense opposition, in part because of concern about wetlands and freshwater mussels.“This catastrophic event is exactly what I and the debtors had long been trying to prevent,” Mueller said in the documents.The explanation drew criticism from Michigan Attorney General Dana Nessel.“Boyce Hydro has been a negligent owner and manager for years, and now, rather than dealing with the tragic circumstances that resulted from its negligence and paying the cost to fix those problems, the company is declaring bankruptcy and potentially leaving Michigan taxpayers holding the bag,” Nessel said in a statement.The case is Boyce Hydro LLC, 20-21214, U.S. Bankruptcy Court in the Eastern District of Michigan.(Updates with response from state attorney general starting in the second to last paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


The Supreme Court ruled on a landmark LGBTQ rights case. The DOJ has yet to enforce it.
Wed, 05 Aug 2020 15:28:47 -0400
Though it was the final word for many, the landmark ruling could be a hollow win for LGBTQ people facing workplace hostility, according to advocates.


US election: Biden to accept nomination remotely over virus fears
Wed, 05 Aug 2020 15:28:30 -0400
Joe Biden will not attend the Democratic convention in Milwaukee due to the coronavirus pandemic.


S&P 500 Climbs to Within 2% of Its Record High: Markets Wrap
Wed, 05 Aug 2020 15:28:13 -0400
(Bloomberg) -- The S&P 500 Index headed for a fourth straight advance amid encouraging news on the vaccine front and speculation U.S. lawmakers are making progress on an economic aid package.The benchmark stock gauge was less than 2% away from its record closing high of 3,386, and a measure of global equities was on the verge of wiping out its losses for the year. Payment processor Square Inc. and media conglomerate Walt Disney Co. rose after better-than-forecast earnings. Novavax Inc. jumped on positive early data from its experimental vaccine for Covid-19. The Stoxx Europe 600 Index also rose.Gold continued its ascent above a record $2,000 an ounce as investors sought an alternative to low bond yields. The dollar fell. Ten-year Treasury yields edged up. Oil rose after a decline in U.S. stockpiles.Investors have been pushing stocks higher in recent days as pressure grows on Republicans and Democrats to resolve differences over a new U.S. virus relief package, especially with jobs data Wednesday painting a grim picture. Gains in precious metals suggest traders are nervous about the outlook for the global economy and seeking a hedge.“Stock markets in general have been underpinned by expectations for further stimulus out of the U.S.,” said Candice Bangsund, portfolio manager of global asset allocation at Fiera Capital Corp. “The second-quarter earnings season has also lent some notable support and helped to counteract some of the fears about the latest resurgence in Covid cases.”U.S. economic data was mixed, with payroll gains slowing sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market. Meanwhile, service industries expanded in July at the fastest pace since February 2019.Here are some key events coming up:Reserve Bank of India and Bank of England rate decisions due Thursday.Dallas Fed President Robert Kaplan discusses the U.S. economy at Thursday event.July U.S. employment and jobs reports expected Friday.These are some of the main moves in markets:StocksThe S&P 500 Index advanced 0.6% as of 3:27 p.m. New York time.The Stoxx Europe 600 Index gained 0.5%.The MSCI Asia Pacific Index climbed 0.7%.The MSCI Emerging Market Index advanced 1.3%.CurrenciesThe Bloomberg Dollar Spot Index declined 0.5%.The euro increased 0.5% to $1.1864.The Japanese yen rose 0.1% to 105.59 per dollar.BondsThe yield on 10-year Treasuries added three basis points to 0.54%.Germany’s 10-year yield increased five basis points to -0.51%.Britain’s 10-year yield climbed five basis points to 0.13%.CommoditiesWest Texas Intermediate crude added 1.3% to $42.25 a barrel.Gold strengthened 1.1% to $2,041.05 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


2 Gurus Have Contrasting Views on the Economy and Market
Wed, 05 Aug 2020 15:27:55 -0400
David Einhorn and Seth Klarman do not agree on the expected performance in the coming months Continue reading...


Virginia touts nation's first contact tracing app with Apple-Google tech
Wed, 05 Aug 2020 15:27:14 -0400
Virginia on Wednesday launched the first contact tracing app for the novel coronavirus in the United States that uses new technology from Apple Inc and Alphabet Inc's Google . Phones with the app exchange Bluetooth signals to keep an anonymous list of close encounters. At least three more states are nearing the launch of similar apps, aiming to ease the burden on underfunded manual contact tracing teams.


Virginia touts nation's first contact tracing app with Apple-Google tech
Wed, 05 Aug 2020 15:27:14 -0400
Virginia on Wednesday launched the first contact tracing app for the novel coronavirus in the United States that uses new technology from Apple Inc and Alphabet Inc's Google . Phones with the app exchange Bluetooth signals to keep an anonymous list of close encounters. At least three more states are nearing the launch of similar apps, aiming to ease the burden on underfunded manual contact tracing teams.


Mich. Gov. Orders State Employees to Conduct ‘Implicit Bias Training,’ Declares Racism a ‘Public Health Crisis
Wed, 05 Aug 2020 15:26:21 -0400
Michigan governor Gretchen Whitmer, a Democrat, signed an executive directive on Wednesday ordering state employees to undergo "implicit bias training."Executive directives allow the Michigan governor to establish procedures or basic policy for employees of the state's executive branch. According to the directive, current state employees will be required to undergo "implicit bias training" by the end of this year, while new employees must complete the training as part of the hiring process. While various bias training initiatives have been implemented by government offices in recent months, some research shows that the impact of these initiatives is negligible.Whitmer's directive also called "to combat racism as a public health crisis.""We must confront systemic racism head on so we can create a more equitable and just Michigan," Whitmer said at a press conference. "I hope we can continue to work towards building a more inclusive and unbiased state that works for everyone."The directive cited the disproportionate effects of the coronavirus pandemic on African Americans. Dr. Anthony Fauci, head of the National Institute for Allergy and Infectious Diseases, said in an interview last week that African Americans as a demographic were at higher risk of catching and dying of coronavirus."You don't like to generalize, but as a demographic group, the African American community is more likely to be in a job that does not allow them to stay at home and do teleworking most of the time," Fauci said. "The other side of the coin — and this has a lot to do with long-term social determinants of health — as a demographic group, African Americans have disproportionately greater incidents of the underlying conditions that allow you to have a more unfavorable outcome [from coronavirus infection]."Governor Whitmer is not the first official to declare racism a "public health crisis:" Boston mayor Marty Walsh did so in mid-June, and the Minneapolis City Council has labeled racism a "public health emergency."


What we know about the massive explosion in Beirut that killed at least 135, injured thousands
Wed, 05 Aug 2020 15:25:47 -0400
Rescue workers are searching for survivors in the aftermath of the blast which officials say might have been caused by ammonium nitrate.


Coronavirus updates: Beirut explosion devastates 'struggling' heath system; Florida surpasses 500,000 cases; Chicago schools to go online
Wed, 05 Aug 2020 15:24:41 -0400
Biden won't go to Milwaukee to claim the Democratic nomination. Explosion in Beirut devastates 'struggling' health system. Latest COVID-19 news.


What Kind Of Shareholders Hold The Majority In Ocwen Financial Corporation's (NYSE:OCN) Shares?
Wed, 05 Aug 2020 15:24:14 -0400
If you want to know who really controls Ocwen Financial Corporation (NYSE:OCN), then you'll have to look at the makeup...


NYC Announces Checkpoints at Major Entryways to Screen for Quarantine Violators
Wed, 05 Aug 2020 15:23:38 -0400
New York mayor Bill de Blasio announced on Wednesday that checkpoints will be set up at major entrances to the city to screen for out-of-state travelers who may be violating quarantine rules.Currently, travelers from 35 states and Puerto Rico are required to self-quarantine for 14 days upon arrival in New York. Anyone flying into the state must fill out a form stating their destination or face a $2,000 fine.The checkpoints in New York City will be established at major bridge and tunnel crossings and randomly screen travelers. Quarantine violators will be fined up to $10,000."The idea is we don’t want to penalize people….We want to educate them, we want to make sure they’re following the rules," de Blasio said at a press conference. "The important thing is the checkpoints are going to send a very important message that this quarantine law is serious."The mayor said that the city's positive test rate for coronavirus patients has remained under 3 percent for two months, but that one out of five new cases are traceable to travelers from other states.New York City was hit hard by the coronavirus pandemic, with over 23,000 deaths and 231,000 people infected, around 2.5 percent of the city's population. While much of the city has reopened after a strict lockdown, city officials have declined to allow indoor dining, gyms, or other activities taking place in an enclosed space to reopen fully."We're not ready on indoor dining, we're not ready on gyms, we're not ready on malls," de Blasio said.


Reporter reflects on Beirut explosion, burying a dog who made 'dystopia more bearable'
Wed, 05 Aug 2020 15:23:28 -0400
Journalist Nadia al-Faour was at the vet when the Beirut explosion struck: "I will miss Loulou as I walk the streets of a broken city."


British American Tobacco faces S.African govt over cigarette ban
Wed, 05 Aug 2020 15:23:01 -0400
British American Tobacco South Africa (BATSA) went to court on Wednesday for the first day of hearings in a case against a government-imposed ban on tobacco sales to limit the spread of coronavirus. While confinement measures are being gradually lifted, tobacco products have remained banned for the time being due to "health risks" associated to smoking. BATSA, which covers 78 percent of the legal cigarette market in South Africa, decided to sue the state in May after talks with the government fell through.


NICB: Thousands Left To Rebuild After Isaias
Wed, 05 Aug 2020 15:22:00 -0400
NICB: Thousands Left To Rebuild After IsaiasPR NewswireDES PLAINES, Ill. 5, 2020Unscrupulous Contractors, Fraudsters Selling Flood-Damaged Vehicles Prey on Unsuspecting ConsumersDES PLAINES, Ill.


New Analyses of Ofev® data in patients with chronic fibrosing ILDs available during American Thoracic Society Congress
Wed, 05 Aug 2020 15:21:00 -0400
Boehringer Ingelheim today announced new analyses of the Phase III INBUILD® trial that studied Ofev® (nintedanib) for the treatment of chronic fibrosing interstitial lung diseases (ILDs) with a progressive phenotype. These analyses were published online in conjunction with the American Thoracic Society (ATS) Virtual conference. The accepted abstracts are available here.


Do Insiders Own Lots Of Shares In Origin Bancorp, Inc. (NASDAQ:OBNK)?
Wed, 05 Aug 2020 15:18:09 -0400
A look at the shareholders of Origin Bancorp, Inc. (NASDAQ:OBNK) can tell us which group is most powerful. Insiders...



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