Eli Lilly starts human study of potential COVID-19 antibody treatment

(Reuters) – Eli Lilly and Co said on Monday it had started an early-stage trial to test its potential treatment for COVID-19, in the world’s first study of an antibody treatment against the disease. Lilly is one of the several drugmakers and research institutions that are working on vaccines, antivirals and other treatments to help […]

Publishers Sue Internet Archive Over Free E-Books

A group of publishers sued Internet Archive on Monday, saying that the nonprofit group’s trove of free electronic copies of books is robbing authors and publishers of revenue at a moment when it is desperately needed. Internet Archive has made more than 1.3 million books available for free online, according to the complaint, which were […]

More Bricks Appear In Advance Of Monday Demonstrations

Update (06/01/2020): More pallets of bricks have been discovered along with bottles and ‘potential accelerators’ – this time in Baltimore, where several demonstrations are planned according to FOX45’s Joy Leopla Stewart. #Breaking #Baltimore police have found mounds of bricks and bottles with potential accelerators in them. Police are currently sweeping the downtown area. There are […]

“Most Of You Are Weak”: Trump Slams Governors Following Violent Weekend Riots

President Trump slammed governors in Democrat-run states as “weak,” after nationwide protests over the death of George Floyd turned into violent riots.  “Most of you are weak,” Trump told the nation’s governors during a Monday morning phone call – while Attorney General Bill Barr, who was on the call, advised them to “dominate” the situation […]

'Lemon' or not, Trump stuck with Phase 1 China trade deal for now

WASHINGTON (Reuters) – U.S. President Donald Trump has little choice but to stick with his Phase 1 China trade deal for now despite his anger at Beijing over the coronavirus pandemic, new Hong Kong security rules, and dwindling hopes China can meet U.S. goods purchase targets, people familiar with his administration’s deliberations say. FILE PHOTO: […]

“The Fed Did It” – Riots Across America Are About More Than George Floyd

As we detailed last night, what’s happening to America right now: rioting, looting, pillaging, Americans fighting other Americans and while the media is spinning self-serving narratives that frame the bad guy as Trump, or China, or Russia, or this political party, or that, or some social movement, hides the truth that the culprit behind the […]

Major Aston Martin shareholder cuts stake in British carmaker

FILE PHOTO: Aston Martin Lagonda cars are parked outside the new factory at Saint Athan, Wales, Britain December 6, 2019. REUTERS/Rebecca Naden (Reuters) – A top Aston Martin (AML.L) shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake […]

Facebook Employees Stage Virtual Walkout to Protest Trump Posts

OAKLAND, Calif. — Dozens of Facebook employees, in rare public criticism on Monday of their own company, protested executives’ decision not to do anything about inflammatory posts that President Trump had placed on the giant social media platform over the last week. The employees, who took the day off by logging into Facebook’s systems and […]

Gun Stocks Shoot Higher After Weekend Of Chaos

Stocks of gunmakers and law-enforcement related equipment jumped on Monday after this weekend’s violent nationwide protests following the death of George Floyd, a black Minneapolis man who died after a white police officer pinned him on the ground by his neck for over eight minutes. Sturm Ruger and Smith & Wesson were both up over […]

Facebook's Zuckerberg faces employee backlash over Trump protest comments

(Reuters) – Facebook employees critical of CEO Mark Zuckerberg’s decision not to act on President Donald Trump’s inflammatory comments about U.S. protests went public on Twitter, praising the rival social media company for acting, and rebuking their own employer. FILE PHOTO: Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing […]

World equities edge higher despite U.S.-China tensions

NEW YORK (Reuters) – World stock markets hovered near three-month highs and safe-haven government bonds inched lower as risk appetite grew on signs that the global economic downturn has bottomed, despite worries over violent protests in the United States and unease over Washington’s standoff with Beijing. U.S. President Donald Trump left a trade deal with […]

Chicago May Delay Reopening Because Of Riots: Virus Updates

Summary: Chicago may delay reopening Florida reports jump of just 0,.4% India now home to world’s 7th biggest outbreak Brazil passes 500k cases Russia reports highest jump in new cases in weeks as easing begins UK begins unwinding lockdown as daily deaths slow Japan mulls plan to let some tourists back in * * * […]

U.S. manufacturing activity off 11-year low; construction spending falls

WASHINGTON (Reuters) – U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment. The frame of a 2015 Ford Mustang vehicle moves down the production […]

After Trump Vows To Classify It As Terrorist Group, Leftists Defend ANTIFA

Authored by Steve Watson via Summit News, Following President Trump’s promise to classify ANTIFA as a terrorist organisation, hyperventilating leftists, virtue signalling celebrities and fake media mouthpieces rushed to DEFEND the group responsible for the wanton violence and destruction, because orange man is bad. The hashtag ‘#IamAntifa’ began trending on Twitter, with hundreds of thousands declaring themselves […]

Wall St. flat as recovery hopes offset U.S. protests, China tensions

(Reuters) – U.S. stocks struggled for direction on Monday as investors weighed prospects of a post-pandemic economic recovery against protests across the country over race and an ongoing standoff between Washington and Beijing. A trader adjusts his mask as he works on the floor of the New York Stock Exchange as the outbreak of the […]

Net Zero Festival: Full virtual summit agenda confirmed

Three day online festival to bring together political and business leaders to explore how the net zero transition will define the decade ahead BusinessGreen has today unveiled the full agenda for the world’s first Net Zero Festival, confirming the inaugural event will now take place as a fully virtual summit this autumn. The Festival will […]

Construction spending falls less than expected

A man works at a construction site, as Miami-Dade County eases some of the lockdown measures put in place during the coronavirus disease (COVID-19) outbreak, in Miami, Florida, U.S., May 18, 2020. REUTERS/Marco Bello WASHINGTON (Reuters) – U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under […]

Zynga to buy Turkish mobile game-maker Peak for $1.8 billion

The corporate logo of Zynga Inc, the social network game development company, is shown at its headquarters in San Francisco, California April 26, 2012. REUTERS/Robert Galbraith (UNITED STATES – Tags: SCIENCE TECHNOLOGY BUSINESS) (Reuters) – Zynga Inc (ZNGA.O) said on Monday it would buy Turkish mobile-game maker Peak for $1.8 billion, in a move that […]

Platts: 5 Commodity Charts To Watch This Week

Via S&P Global Platts Insights blog, US-China tensions have bubbled up again, and commodity markets could be caught up in the turmoil, not least LNG. Aviation activity and jet fuel are also in the mix this week, along with corn fundementals in North and South America, and UK solar power. 1. US LNG exporters face new test […]

If all cars were electric, UK carbon emissions would drop by 12 per cent

The COVID-19 lockdown has led to reduced pollution and emissions in the UK and around the world, providing a clear indication of how cars affect air quality and carbon emissions. But such a change is only temporary – millions of petrol cars are waiting for restrictions to ease. Then, higher levels of emissions will resume. […]

New Poll Says a Majority of Americans Would Privilege Slowing the Spread of COVID-19 Over Restarting the Economy (Despite the Relentless Assault of Get Back to Work, Slackers! Propaganda)

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. A  hot-off-the-presses Washington Post- ABC News poll says  the majority of Americans would prefer policies that slow the spread of COVID-19, even if they come at the expense of restarting the economy. […]

Adviser links: slow money

Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at how to talk to clients that can’t help but keep checking their account values. Quote of the Day “I can’t imagine there is a single business owner in America right now who wouldn’t […]

Electronic Filing of Amended Tax Returns – Coming Soon!

Big News! The IRS just announced that amended tax returns (Form 1040X only, for now) can soon be filed electronically! For just about anyone in the world except for tax preparers, this seems like a yawner. After all, the IRS has been requiring electronic filing of just about every other tax return for a few years […]

‘A Heartbreaking and Painful Week’

Want this in your inbox each morning? Sign up here. ‘We have work to do’ Protests against police brutality are continuing around the U.S., with a number of states imposing curfews and mobilizing the National Guard. It has been one week since the death of George Floyd in police custody in Minneapolis, sparking nationwide unrest. […]

PPP

I am past due to clear up some confusion and misinformation about our decision to participate in the Paycheck Protection Plan (PPP). This is simple and straightforward, unless you are committed to misunderstanding it. On March 27, the CARES Act was signed into law. Its purpose was to preserve jobs, to keep people getting paychecks […]

Fight the Virus!

I was asked by the LATimes to contribute to a panel on economic and pandemic policy. The other contributors are Joseph E. Stiglitz, Christina Romer, Alicia H. Munnell, Jason Furman, Anat R. Admati, James Doti, Simon Johnson, Ayse Imrohoroglu and Shanthi Nataraj. Here’s my contribution: If an invader rained missiles down on cities across the […]

The Latest In Financial Advisor #FinTech (June 2020)

Executive Summary Welcome to the June 2020 issue of the Latest News in Financial Advisor #FinTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors and wealth management! This month’s edition kicks off with the news that Goldman Sachs has […]

Links 6/1/2020

US Campaign Against Cuba’s Medical Brigades Targets Healthcare, Not ‘Forced Labor’ FAIR NASA astronauts just flew SpaceX’s Crew Dragon into orbit for the first time MIT Technology Review Space Force draws space penis over eastern coast of Florida Duffelblog 40 Times Mother Nature Proved To Be Scary As Hell (WARNING: This List Might Be Too […]

States Warn That Virus May Doom Climate Projects

WASHINGTON — Connecticut is preparing to build a first-of-its-kind underground flood wall. Virginia has planned an intricate system of berms, pump stations and raised roads to keep the flood-prone city of Norfolk dry. Louisiana has broken ground on a new community for people forced to flee a village on its sinking coast, the country’s first […]

EU Stimulus Fakery as Brexit Stumbles Forward

We’ve been neglecting Brexit and EU stimulus measures because they seem all to familiar, in a bad way. Nevertheless, the EU, just like the US, is grappling with a massive deflationary shock. And even though much of Europe should be able to get to some semblance of normalcy sooner rather than later by virtue of […]

‘For a clean, inclusive and resilient UK recovery plan’

Today’s letter from over 200 top businesses calling on the UK government to deliver a coronavirus recovery plan that accelerates the transition to net zero emissions – in full Dear Prime Minister, Please accept our support during these unprecedented times. As with all UK businesses, we are committed to ensuring that all possible efforts are […]

Fall Is Now Jam-Packed for Book Publishers. That Could Be a Problem.

In March, when parts of the United States began shutting down because of the coronavirus, the best-selling children’s book author Jeff Kinney faced a dilemma. “Rowley Jefferson’s Awesome Friendly Adventure,” part of his popular Wimpy Kid series, was due out in April with a first printing of three million copies. His publisher had lined up […]

How to Be Your Own Glam Squad for a Zoom Wedding

Hair salons, spas and beauty retailers are continuing to help couples prepare for their weddings, even though most have been forced to temporarily close because of the coronavirus. Some are offering services like online tutorials and Instagram Live chats that feature tips from experts. Couples are finding all this support a godsend. “Getting beauty advice […]

Poor Countries Face a Debt Crisis ‘Unlike Anything We Have Seen’

From Angola to Jamaica to Ecuador to Zambia, the world’s poor countries have had their finances shredded by the global pandemic. The president of Tanzania has called on “our rich brothers” to cancel his country’s debt. Belarus veered toward a default when a promised $600 million loan from Russia fell through. Russia couldn’t spare the […]