01 Nov 2020

feedGlobal Economy

Huawei develops plan for chip plant to help beat US sanctions

Shanghai facility aimed at breaking Chinese company's dependence on American technology

01 Nov 2020 12:01am GMT

31 Oct 2020

feedYahoo Finance

Gold Price Predictions If Biden Or Trump Wins Presidency

Gold Price Predictions If Biden Or Trump Wins PresidencyThe 2020 U.S. election is taking place on Nov. 3 with President Donald Trump and former VIce President Joe Biden battling for the lead position.Gold Price Analysis: The U.S. presidential election will play a huge role in shaping the global economy and gold prices are expected to react in the run up to the election day. So how important is it for the safe haven asset gold if Biden or Trump makes it to the White House?"There is no doubt that we are likely to see increased volatility in stock markets in the run up to the election day and investors seeking traditional safe havens such as gold, particularly if the race between the two candidates gets very close and there is a growing risk of a contested outcome," writes Saida Litosh, manager of precious metals analysis at Refinitiv.Biden or Trump Impact: If the past is any indication, a second Trump administration would mean a "turbulent and polarizing first term" which in turn would add further volatility and uncertainty, although the potential for radical policies could be lower in the second term should Congress remain divided, Refinitiv highlights.However, a Biden win would represent a return to a more conventional administration resulting in less volatility associated with political risks and international tensions."Historically gold price movements in the aftermath of previous U.S. presidential elections suggests little evidence of a clear relationship between the gold price and the election outcome based on party affiliation," says Litosh.Fosterville South Exploration CEO Bryan Slusarchuk says, for thousands of years, gold has acted as a hedge against uncertainty, a currency and a store of wealth. Both Trump and Biden have promised huge amounts of stimulus and huge amounts of easing."Both [Trump and Biden] have been vocally supportive of various policies that amount to quantitative easing and therefore gold ought to react well no matter who is elected," says Slusarchuk.Stepping beyond financial conditions, which will serve to propel gold higher, we need to consider gold's function as a hedge against uncertainty, says Slusarchuk.Gold Has Explosive Upside: Slusarchuk says this election is going to be perhaps the most divisive election in the history of the United States."It may be contested, the outcome may not be certain and its legitimacy will no doubt be challenged in some circles no matter which side is victorious," says Slusarchuk.He believes a bitter, contested election would also potentially have many negative consequences and would represent the very definition of uncertainty which is something gold hedges against."I believe gold has explosive upside in the coming months and this is predicated on economic and financial conditions, but the uncertainty of the election outcome will only serve to accelerate its upward trajectory," adds Slusarchuk.Price Action: The SPDR Gold Trust (NYSE: GLD) was up 0.37% at $179 at the time of publication Monday, while the VanEck Vectors Gold Miners ETF (NYSE: GDX) was up 0.89% at $38.55.See more from Benzinga * Click here for options trades from Benzinga * Check Out The Benson On Madison Ave. With Condos On Sale From .5M (PHOTOS) * Why GameStop's Stock Is Trading Lower Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


31 Oct 2020 7:15pm GMT

Last Week's Notable Insider Buys: IBM, Intel, Raytheon And More

Last Week's Notable Insider Buys: IBM, Intel, Raytheon And More* Insider buying can be an encouraging signal for potential investors when markets face uncertainty. * Insiders were buying shares of a couple of semiconductor makers and an old-school tech giant last week. * Some chief executives were among the insiders making trips to the buy window. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.Though buy windows have closed for many insiders during earnings-reporting season, plenty of others continued to add shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.The Live Oak Bancshares Inc. (NASDAQ: LOB) CEO, James Mahan, via trust purchased over 154,300 shares of this North Carolina-based bank at prices ranging from $33.02 to $35.00 apiece. That cost him more than $5.27 million. Note that Mahan also bought 233,000 shares back in August.An executive and two other insiders at newly public Foghorn Therapeutics Inc (NASDAQ: FHTX) bought more than 305,000 shares at the IPO price of $16.00. That totaled almost $4.90 million. Note that one of those insiders, listed as a former 10% owner, was the Abu Dhabi Investment Authority.Raytheon Technologies Corp. (NYSE: RTX) saw Chief Executive Officer Gregory Hayes pick up 55,000 shares of this aerospace and defense company. Four other insiders cumulatively bought more than 30,000 shares as well. At $52.28 to $55.20 per share, those transactions totaled over $4.59 million altogether.A beneficial owner at Safety Insurance Group Inc. (NASDAQ: SAFT) returned to add to a stake. The more than 48,500 shares of this Boston-based company indirectly scooped up, at prices ranging from $68.25 to $69.94, totaled almost $3.35 million. That owner bought 100 shares in the previous week as well.IBM (NYSE: IBM) had four directors acquire over 16,700 shares altogether of this old-school tech giant last week. At $107.49 to $110.75 per share, that added up to more than $1.82 million. Note that a different insider sold less than 7,000 shares back in August for more than $126 apiece.A director at Crown Castle International Corp. (NYSE: CCI) picked up more than 8,000 shares of this communications infrastructure company, some of them via family trust. At prices ranging from $160.85 to $161.75 per share, the total for those purchases came to more than $1.29 million.A director paid between $132.47 and $132.85 each for 3,000 Kimberly Clark Corp. (NYSE: KMB) shares late last week. That cost him around $398,000 and brought his stake in this Dallas-based consumer products company to more than 48,400 shares.See also: 5 Election-Proof Stock Ideas Ahead Of Biden-Trump DecisionIntel Corp. (NYSE: INTC) CEO Bob Swan stepped up to the buy window midweek. At $44.96 apiece, the more than 8,000 shares he acquired added up to more than $360,600. Note that the purchase price is not much above the 52-week low of $43.61 seen on Friday.A Genuine Parts Co. (NYSE: GPC) director added 2,200 more shares of this Atlanta-based vehicle parts maker last week. At around $91.72 per share, that cost him more than $201,700. Note that this director also bought 2,000 shares of Oxford Industries in September.And NXP Semiconductors NV (NASDAQ: NXPI) saw a director add shares to her stake. At $134.30 a share, the 1,500 shares cost her more than $201,400 and more than doubled the stake. Note that another director sold almost twice as many shares on the same day for a slightly higher price.Note that there also was some smaller amount of insider buying at Bank of Hawaii Corp. (NYSE: BOH), Crown Holdings Inc. (NYSE: CCK), Perspecta Inc. (NYSE: PRSP) and Texas Capital Bancshares Inc. (NASDAQ: TCBI) posted last week.At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Last Week's Notable Insider Buys: Del Taco, First American And More * Barron's Picks And Pans: Coca-Cola, Sprouts Farmers Market, Mirati Therapeutics And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


31 Oct 2020 6:39pm GMT

US Banks May Seek to Partner With or Buy Crypto Custodians, OCC’s Brooks Says

US Banks May Seek to Partner With or Buy Crypto Custodians, OCC’s Brooks SaysThe OCC's July ruling that allowed banks to provide custody spurred the newfound interest, Brooks said.


31 Oct 2020 5:54pm GMT

NEWSMAKER-Brash and pugnacious, Trump has presided over a tumultuous presidency

31 Oct 2020 5:25pm GMT

Fannie Mae Will Be Strengthened For Housing In 2021

31 Oct 2020 4:53pm GMT

Stock Picks – Alibaba Group Holding Ltd: A Global Tech Octopus

31 Oct 2020 4:50pm GMT

Twice as many bettors are backing Trump, despite projected Biden victory

Twice as many bettors are backing Trump, despite projected Biden victoryTwice as many bettors are backing Trump over Biden, according to British betting firm Smarkets.


31 Oct 2020 3:51pm GMT

Einhorn Makes 7.7% in October After Adding to ‘Bubble’ Basket

31 Oct 2020 3:40pm GMT

What Netflix's price hikes means for the streaming wars as rivals offer cheaper options

What Netflix's price hikes means for the streaming wars as rivals offer cheaper optionsNetflix is once again raising its prices -but what will the move do to the competitive streaming landscape?


31 Oct 2020 2:48pm GMT

Investors should brace for bumpy markets after the election, analysts say

Investors should brace for bumpy markets after the election, analysts sayNov. 3 is just the next upheaval in an extremely volatile year.


31 Oct 2020 2:05pm GMT

How Large Option Traders Are Playing Twitter Following 20% Sell-Off

How Large Option Traders Are Playing Twitter Following 20% Sell-OffTwitter Inc (NYSE: TWTR) investors suffered one of their worst days in recent history Friday when the stock crashed more than 20% on disappointing third-quarter user growth numbers.A flurry of large Twitter option trades were mixed in nature on Friday as investors struggle to determine if the Twitter sell-off is just getting started -- or if it's a long-term buying opportunity.Related Link: How Large Option Traders Are Playing AMD Following Xilinx Buyout, Q3 EarningsThe Twitter Trades: On Friday morning, Benzinga Pro subscribers received 38 option alerts related to unusually large trades of Twitter options. Here are a handful of the biggest: https://pro.benzinga.com/ * At 9:32 a.m., a trader sold 862 Twitter put options with a $46 strike price expiring on Friday near the bid price at $2.75. The trade represented a $237,050 bullish bet. * At 9:41 a.m, a trader sold 218 Twitter put options with a $50 strike price expiring on Nov. 6 near the bid price at $6.10. The trade represented a $132,980 bullish bet. * At 10:18 a.m., a trader bought 500 Twitter call options with a $40 strike price expiring on Jan. 15 at the ask price of $5.831. The trade represented a $291,500 bullish bet. * At 10:46 a.m, a trader sold 465 Twitter put options with a $35 strike price expiring on June 18 near the bid price at $4.001. The trade represented a $186,046 bullish bet.Of the 38 total large Twitter option trades on Friday morning, 16 were calls purchased at or near the ask or puts sold at or near the bid, trades typically seen as bullish.Another 22 trades represented calls sold at or near the bid or puts purchased at or near the ask, trades typically seen as bearish.Two trades were executed near the midpoint of the bid-ask spread, a price typically considered neutral.Why It's Important: Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.View more earnings on TWTRMany of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there's no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively small size of the largest Twitter trades by institutional standards, they were likely not institutional hedges.Disappointing Growth: By most measures, Twitter had a decent third quarter from a financial standpoint, beating analyst expectations for earnings and revenue. Yet the negative market reaction on Friday suggests the Twitter bull story is still all about user growth.Twitter reported third-quarter adjusted EPS of 19 cents on $936 million in revenue. Analysts had been expecting 6 cents and $777 million, respectively. Revenue was up 14% from a year ago, and ad revenue was up 15% to $808 million.Twitter also reported 27% growth in user engagement, but 187 million monetizable daily active users (mDAUs) came up well short of analyst estimates of 195 million. Still, mDAUs were up 29% year-over-year. Much of the negative price action on Friday may have been due mostly to extremely high expectations for Twitter following a blowout earnings report from social media competitor Snap Inc (NYSE: SNAP). Prior to Friday's sell-off, Twitter shares were up more than 60% year-to-date.Looking ahead, Twitter warned that advertiser behavior in the fourth quarter could be "hard to predict" due to uncertainty associated with the presidential election. TWTR Chart by TradingView new TradingView.widget( { "width": 680, "height": 423, "symbol": "NYSE:TWTR", "interval": "D", "timezone": "Etc/UTC", "theme": "light", "style": "1", "locale": "en", "toolbar_bg": "f1f3f6", "enable_publishing": false, "allow_symbol_change": true, "container_id": "tradingview_7c561" } ); Benzinga's Take: For most companies, an earnings and revenue beat and 29% user growth would be a great quarter.With Twitter's stock up so much in 2020 heading into the earnings report and such a big quarter from Snap earlier this month, investors may be concerned that Snapchat and other social media platforms are gaining precious market share from Twitter.See more from Benzinga * Click here for options trades from Benzinga * Dorsey Defends Twitter Censorship To Congress: 'Our Team Made A Fast Decision'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


31 Oct 2020 1:47pm GMT

Earnings Miss: Equinix, Inc. (REIT) Missed EPS By 55% And Analysts Are Revising Their Forecasts

Earnings Miss: Equinix, Inc. (REIT) Missed EPS By 55% And Analysts Are Revising Their ForecastsLast week, you might have seen that Equinix, Inc. (REIT) (NASDAQ:EQIX) released its quarterly result to the market...


31 Oct 2020 1:34pm GMT

Suze Orman says don't ever make these money mistakes

Suze Orman says don't ever make these money mistakesAvoid making these errors and you'll enjoy a better financial life, the money guru says.


31 Oct 2020 1:25pm GMT

Trade Alert: The Group CFO Of HSBC Holdings plc (LON:HSBA), Ewen Stevenson, Has Just Spent US$119k Buying 4.0% More Shares

Trade Alert: The Group CFO Of HSBC Holdings plc (LON:HSBA), Ewen Stevenson, Has Just Spent US$119k Buying 4.0% More SharesInvestors who take an interest in HSBC Holdings plc (LON:HSBA) should definitely note that the Group CFO, Ewen...


31 Oct 2020 8:53am GMT

GlaxoSmithKline plc Just Beat EPS By 44%: Here's What Analysts Think Will Happen Next

GlaxoSmithKline plc Just Beat EPS By 44%: Here's What Analysts Think Will Happen NextGlaxoSmithKline plc (LON:GSK) shareholders are probably feeling a little disappointed, since its shares fell 3.9% to...


31 Oct 2020 8:23am GMT

BP p.l.c. Just Missed Earnings With A Surprise Loss - Here Are Analysts Latest Forecasts

BP p.l.c. Just Missed Earnings With A Surprise Loss - Here Are Analysts Latest ForecastsLast week, you might have seen that BP p.l.c. (LON:BP.) released its quarterly result to the market. The early...


31 Oct 2020 7:04am GMT

feedGlobal Economy

Long-term forces stack up against the dollar

Low rates combined with rising trade and budget deficits put pressure on the currency

31 Oct 2020 5:00am GMT

Washington looms large over drafting of China’s next five-year plan

Plenum calls for 'self-reliance' to counter US efforts to damage Chinese companies

31 Oct 2020 12:30am GMT

30 Oct 2020

feedGlobal Economy

Fed lowers bar for access to small-business lending programme

US central bank has come under pressure to boost usage of the lending facility

30 Oct 2020 3:59pm GMT

Eurozone economic rebound leaves output below pre-pandemic levels

Fresh social restrictions are likely to undermine recovery in the rest of the year

30 Oct 2020 12:54pm GMT

feedBBC News - Economy

Eurozone bounces back to economic growth

The region saw 12.7% growth from July to September but GDP is still smaller than before the pandemic.

30 Oct 2020 12:01pm GMT

feedGlobal Economy

FirstFT: Today’s top stories

Your daily briefing on the news

30 Oct 2020 11:23am GMT

feedBBC News - Economy

NatWest warns of 'challenging times' amid surprise profit

Bank posted a £355m profit before tax for July to September even though analysts expected a loss.

30 Oct 2020 10:08am GMT

House prices climb to record high, says Nationwide

House prices rise at their fastest rate for five years as buyers race to avoid paying stamp duty.

30 Oct 2020 9:28am GMT

feedGlobal Economy

Clouds darken over eurozone economy as new lockdowns bite

Eurogroup prepares for discussion next week over interactions between pandemic restrictions and economic activity

30 Oct 2020 7:01am GMT

29 Oct 2020

feedGlobal Economy

IMF urges UK to keep spending to tackle pandemic crisis

Output now expected to shrink 10.4% in 2020 and recover only partially next year

29 Oct 2020 6:43pm GMT

feedBBC News - Economy

Government support 'essential' for UK economy, says IMF

The International Monetary Fund also says the UK's recession will be more severe than it predicted.

29 Oct 2020 5:36pm GMT

feedGlobal Economy

Pandemic crisis: Global economic recovery tracker

Alternative indicators give an early picture of how the global economy is faring in the face of headwinds from new restrictions as case counts climb

29 Oct 2020 5:17pm GMT

ECB to gobble up more debt next year than governments can sell

Eurozone countries will be able to finance yawning deficits without investor contributions

29 Oct 2020 4:07pm GMT

What’s driving the EU on rules of origin?

Carmakers and others are concerned at Brussels' stance on tariff-free trade with UK

29 Oct 2020 4:02pm GMT

feedBBC News - Economy

US growth surged in summer but recovery is slowing

The US economy grew 7.4% over the quarter, but output remains lower than last year.

29 Oct 2020 2:28pm GMT

UK car production has worst September since 1995

The drop is concerning as the end of the Brexit transition period looms, says industry body.

29 Oct 2020 1:29pm GMT

feedGlobal Economy

China turns to domestic demand to power economy

Xi Jinping's administration will focus on 'self-sufficiency' in a range of technological sectors dominated by the US

29 Oct 2020 1:26pm GMT

ECB signals more easing ahead as Lagarde warns of worsening outlook

Central bank says work has started on recalibrating all its stimulus measures

29 Oct 2020 1:14pm GMT

US economic activity rebounds at a record pace in third quarter

GDP jump masks concerns recovery is slowing again as Covid surges and effects of fiscal stimulus fade

29 Oct 2020 12:47pm GMT

How China is helping exporters around the world

The country has become an important destination for goods during the pandemic

29 Oct 2020 12:04pm GMT

FirstFT: Today’s top stories

Your daily briefing on the news

29 Oct 2020 11:24am GMT

feedBBC News - Economy

Covid: 1,700 employers planned redundancies in September

Redundancies on the rise again after August lull, according to BBC Freedom of Information Request

29 Oct 2020 12:00am GMT

28 Oct 2020

feedBBC News - Economy

US tries to block Ngozi Okonjo-Iweala, who would be first African WTO head

The World Trade Organization's nominations team says member countries should back Ngozi Okonjo-Iweala.

28 Oct 2020 9:30pm GMT

Stock markets sink amid alarm at Covid surge

Financial markets in the US and Europe fall as concerns rise about the coronavirus impact on economic growth.

28 Oct 2020 8:21pm GMT

Why soy sauce is causing a stir

The Department for International Trade slips up in a tweet about Bake Off.

28 Oct 2020 3:28pm GMT

‘Shops refusing cash left me unable to buy basics’

The cash system is being threatened by some shops not accepting cash, says Consumer group Which?

28 Oct 2020 12:01am GMT

27 Oct 2020

feedBBC News - Economy

Home working reduces creative thought, says Bank economist

The Bank of England's Andy Haldane says people are less exposed to new experiences when working at home.

27 Oct 2020 10:05am GMT

26 Oct 2020

feedBBC News - Economy

Panorama: Young people and the futures of the ‘Covid Generation’

23-year-old Rasheed lost his fully funded place on a pilots training course due to the pandemic.

26 Oct 2020 4:41pm GMT

15 Oct 2020

feedBBC News - Economy

Waiting more than 170 days for cruise refund

Cruise customers say they have been waiting more than six months for refunds for cancelled holidays.

15 Oct 2020 11:00pm GMT

10 Oct 2020

feedBBC News - Economy

Coronavirus: Turkey farmers worried over downsized Christmas dinners

Turkey farmers are concerned the 'rule of six' will lead to downsized Christmas dinners.

10 Oct 2020 11:01pm GMT

08 Oct 2020

feedBBC News - Economy

First women-only tailor’s shopfront opens on Savile Row

Savile Row has been known for delivering high quality men's tailoring for more than 200 years. But things are now changing.

08 Oct 2020 11:05pm GMT