The Biden campaign has promised to shut down the Keystone Pipeline that would bring Canadian oil into the U.S. Biden’s allies in the climate lobby also want to shut down the Dakota Access Pipeline that has been in operation since 2007. These are all part of "Blue Collar" Joe’s plan to phase out oil. Sounds like he’s a real friend to the roughnecks and construction workers who build America’s pipelines. Sadly for Mr. Biden, shutting down pipelines is largely symbolic. Canadian oil is still going to make it to market, but getting it there will be more expensive and more dangerous to boot. Oil … [Read more...]
EU Turns the Screws on Amazon
The European Union is getting tough on Amazon's big data collection practices. Valentina Pop and Sam Schechner report for The Wall Street Journal: Amazon.com Inc. AMZN -3.41% faces fresh legal battles with the European Union after the bloc charged the online retailer with violating competition law in a new salvo in its scrutiny of U.S. tech corporations. The European Commission—the bloc’s top antitrust enforcer—issued a charge sheet against Amazon alleging that the company uses nonpublic data it gathers from third-party sellers to unfairly compete against them. In addition, the EU is … [Read more...]
CVS Gets a New CEO
Current CVS CEO, Larry Merlo is retiring, and the company's board has picked a new chief executive, Karen Lynch. Supermarket News reports: Plans call for Lynch to take the CEO reins on Feb. 1, 2021, and join the CVS board of directors. At that time, Merlo will shift to a strategic adviser role to help in the leadership transition, CVS said. He also will continue to serve on the board until the next CVS annual shareholders meeting in May 2021. Merlo is slated to officially retire on May 31, 2021. “Karen is a seasoned health care expert who knows our business. She brings a relentless focus … [Read more...]
The Big Reward for Delaying Social Security
In The Wall Street Journal, David Blanchett explains the rewards retirees will reap by delaying their Social Security payments. He writes: Many people worry about the long-term viability of the Social Security retirement system these days. Pre-pandemic estimates put the trust fund going to empty around 2034, but given everything going on with our economy that estimate seems a tad optimistic. When the trust fund goes to zero, though, it doesn’t mean benefits go to zero. At that point benefits would be based on taxes collected. Assuming nothing changes policy wise, that would reduce benefits … [Read more...]
Volvo Beats Tesla to Fully-Electric Heavy-Duty Truck Market
On Thursday, Volvo became the first manufacturer to offer a fully-electric heavy-duty truck. Richard Milne reports for Financial Times: Volvo Group is set to become the first manufacturer to offer a fully-electric heavy-duty truck for sale as the Swedish group aims to show battery power is possible for the biggest commercial vehicles. The world’s second-largest truckmaker announced on Thursday that electric heavy-duty trucks with a range of up to 300km would go on sale next year and enter production in 2022 as Volvo pushes for half its truck sales in Europe to be battery powered by the end … [Read more...]
Trapped by Low Liquidity
Investors in private real estate funds are finding out what liquidity risk means. High redemption requests are forcing big real estate funds to delay redemptions. Peter Grant and Esther Fung report for the Wall Street Journal: Overall, more than 15 of the 25 open ended core funds tracked by the National Council of Real Estate Investment Fiduciaries have investors waiting to redeem tens of billions of dollars worth of investments, according to industry participants. The Council said it doesn’t tabulate redemptions. Those 25 funds had a total of $267.1 billion gross real-estate assets at the … [Read more...]
Doubting the Dollar?
At the Financial Times, Michael Mackenzie explains the long term forces stacking up against the dollar. He writes: With alarm bells ringing across financial markets in recent days, the US dollar has found its footing, reflecting its haven status whenever equities and investor sentiment take a knock. But that may prove fleeting given the longer term forces stacking up against the world’s reserve currency. Since climbing to its best level since 2002 in the wake of the pandemic earlier this year, the Federal Reserve’s trade-weighted dollar index has been pressured by a combination of rising … [Read more...]
The Highest Yielding S&P 500 Stocks
If you are on the hunt for yield, the top 10 highest yielding S&P 500 stocks is a tempting place to look for new ideas. Compared to the less than 2.5% yield offered by investing in an S&P 500 index fund, the average yield of the highest 10 dividend-paying S&P 500 stocks is over 8.3%. The list below includes the 10 highest yielding S&P 500 stocks along with their indicated dividend yield. Click the company name for more information on each stock. Highest Yielding S&P 500 Stocks Company NameYieldOneok Inc. (OKE)13.10%CenturyLink (CTL)10.78%ExxonMobil Corp. … [Read more...]
The Highest Yielding Dow Stocks
For investors looking for high-yielding dividend stocks to buy, the highest dividend payers in the Dow Jones Industrial Average (DJIA) is a common starting point. Below is a list of the 10 highest yielding Dow stocks. Today, the average yield of the 10 highest-yielding Dow Jones Industrial Averages stocks is 4.51%. You can see their individual yields in the table below. Click the company name for more information on each stock. To view the entire list of Dow stocks ranked by yield, click here. Highest Yielding Dow Jones Industrial Average Stocks Company NameDividend … [Read more...]
When Stocks Start Falling on Good News, There May Be a Problem
Despite strong results, big tech companies are under pressure. Dan Gallagher reports for The Wall Street Journal: Having a low bar helps; Alphabet’s shares have risen only 16% year to date compared with the average 56% gain by Apple, Amazon and Facebook. The company also saw a sharp bounceback for its core Google advertising business, which reported its first-ever decline in the second quarter. It also announced plans to turn its Google Cloud business into a separate reporting segment starting with its fourth-quarter report. Amazon’s share price surged 118% in 2015 when the e-commerce giant … [Read more...]
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