Month: August 2020

Luckin Stock Isn’t the Answer for Investors Seeking Consumer Exposure

Deedra Mcgillivray 3 months ago



Luckin (LKNCY) logo on the wall of a coffee shop with a customer sitting at a table below it.

© Source: abolukbas / Shutterstock.com
Luckin (LKNCY) logo on the wall of a coffee shop with a customer sitting at a table below it.

Purveyor of coffee and fraud, Luckin Coffee (OTCMKTS:LKNCY) still commands plenty of attention and, for one reason or another, some investors remain captivated by Luckin stock.



a person standing in front of a sink: Luckin (LKNCY) logo on the wall of a coffee shop with a customer sitting at a table below it.

© Provided by InvestorPlace
Luckin (LKNCY) logo on the wall of a coffee shop with a customer sitting at a table below it.

Lingering enthusiasm for Luckin equity could be a symptom of the current climate in which younger investors are turning to investing apps and tempting fate

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Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Wins Finance Holdings Inc. (WINS)

Deedra Mcgillivray 3 months ago

LOS ANGELES, Aug. 25, 2020 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 23, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of Wins Finance Holdings Inc. (“Wins” or the “Company”) (NASDAQ: WINS) securities between October 31, 2018 and July 6, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Wins investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/wins-finance-holdings-inc/. You can also

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Not all insurance cover will let you down in a crisis

Deedra Mcgillivray 3 months ago

The insurance industry has hardly covered itself in glory in recent months, refusing to pay out on claims made by owners of small firms who understandably thought their business interruption policies would kick in as a result of the pandemic. 

Yet its reputation has not been entirely left in shreds. While providers of such cover nervously await a High Court judgment due next month on whether they should (rightly) be required to pay such claims, there is a cohort of insurance companies determined to do the right thing by customers. They are providers of financial protection insurance. 

This cover comes

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S&P 500 shakes off a bumpy start, pushes to another record

Deedra Mcgillivray 3 months ago

The market has been making a lot of small moves recently on snippets of news about the virus, developments on a potential vaccine for it and other concerns. But the economy is still hurting, with airlines running at a fraction of their capacities and restaurants still mostly empty.

“That’s not an economy that’s back to normal,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “Ultimately, the economy doesn’t fully reopen until we get a vaccine or a therapeutic,” he said.

For the moment, though, he said, “People are willing to see that the world’s cup is

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Petition Launches to Mandate Personal Finance Courses are Taught to Students

Deedra Mcgillivray 3 months ago

LAS VEGAS, Aug. 25, 2020 /PRNewswire/ — The National Financial Educators Council (NFEC) launches a petition website to encourage public schools adopt comprehensive financial education programming. This campaign is designed to show policymakers the American public wants financial literacy taught and leverage this to encourage them to mandate and fund comprehensive personal finance courses in public schools.
” data-reactid=”12″LAS VEGAS, Aug. 25, 2020 /PRNewswire/ — The National Financial Educators Council (NFEC) launches a petition website to encourage public schools adopt comprehensive financial education programming. This campaign is designed to show policymakers the American public wants financial literacy taught

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The Main Benefits Of Buying Car Insurance Online

Deedra Mcgillivray 3 months ago

https://compare-autoinsurance.org/) has launched a new blog post that explains the benefits of purchasing online car insurance.” data-reactid=”12″LOS ANGELES, CA / ACCESSWIRE / August 28, 2020 / Compare-autoinsurance.org (https://compare-autoinsurance.org/) has launched a new blog post that explains the benefits of purchasing online car insurance.

https://compare-autoinsurance.org/the-main-reasons-why-should-you-buy-a-car-insurance-policy-online/” data-reactid=”13″For more info and free auto insurance quotes, visit https://compare-autoinsurance.org/the-main-reasons-why-should-you-buy-a-car-insurance-policy-online/

In the past years, buying an online car insurance policy has become popular among people that want to save time. Purchasing car insurance online is simple and has multiple

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British start-up Culture Trip confirms CEO is stepping down

Deedra Mcgillivray 3 months ago

(L-R) Executive Producer Daniel Montalto, Executives in charge of Culture Trip Michael Fox and Dr. Kris Naudts and Executive Producer Elizabeth Carter attend Culture Trip premiere of the “The Soul of Soho” film at SXSW on March 09, 2019 in Austin, Texas.

Getty

British travel and entertainment start-up Culture Trip has confirmed that founder Kris Naudts is stepping down as the company’s chief executive. 

Naudts, who will retain his position as chairman, will be replaced by Didier Stoessel, who has worked for Modern Times Group, HSBC Investment Bank, and Merrill Lynch International. The news was first reported by Business Insider

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Dwayne ‘The Rock’ Johnson Invests in Acorns Finance App, New Users Get $7

Deedra Mcgillivray 3 months ago

Dwayne Johnson, left, and Dany Garcia.

Dwayne Johnson, left, and Dany Garcia.

Photographer: Kevin Mazur/Eric Umphrey via Acorns

Photographer: Kevin Mazur/Eric Umphrey via Acorns

Dwayne “The Rock” Johnson and his business partner Dany Garcia are making a investment in digital personal-finance service Acorns — which will give each new user a $7 credit, a symbolic reference to when he was a struggling athlete and the amount of money he had left in his pocket.

Acorns is a micro-investing platform including a service that lets users automatically round up their purchases to the nearest dollar and deploy the difference in a diversified portfolio of exchange-traded funds. The

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J.M. Smucker lifts annual forecast on strong demand for coffee, frozen foods

Deedra Mcgillivray 3 months ago

(Reuters) – J.M. Smucker Co (SJM.N) on Tuesday raised its full-year targets after beating Wall Street estimates for first-quarter earnings and revenue on strong demand for its coffee, frozen sandwiches and peanut butter from stuck-at-home consumers.

FILE PHOTO: Containers of Smuckers’s Jam are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid

Shares rose as much as 9% as the Jif peanut butter maker posted a 23% jump in sales at its U.S. retail coffee business.

“It has been a long time since Smucker did anything but lower its revenue outlook after reporting

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South Korea urged to follow Japanese lead on coal finance ban

Deedra Mcgillivray 3 months ago

South Korea has been castigated by environmentalists and international investors for failing to follow Japan in slashing funding for coal power overseas.

The criticism was levelled as Moon Jae-in’s government touted investment in clean energy as part of a Green New Deal, a vital component of an unprecedented $233bn stimulus that was pledged in the wake of the economic damage wrought by coronavirus.

Tokyo last month announced it would cut most state support for coal-fired power plants. The move followed years of campaigning by environmentalists over concerns that cheap Japanese loans spurred decades of fossil fuel dependency in developing countries.

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State insurance commissioner, advocacy group reverse opposition to wildfire bill following amendments

Deedra Mcgillivray 3 months ago

California Insurance Commissioner Ricardo Lara and the Los Angeles advocacy group Consumer Watchdog issued separate statements Friday announcing they no longer opposed a wildfire-insurance bill.

At a hearing earlier this week, lawmakers took out key portions of the bill that Lara said would undermine his authority to regulate homeowner insurance premiums.

“I commend the Senate Appropriations Committee for recognizing that there is a better way to tackle the costs and availability of wildfire insurance affecting our state,” Lara said in a statement Friday.

“With 367 known wildfires burning today in California and threatening lives and homes, time is of the

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Consumer Confidence Drops Unexpectedly in August | National News

Deedra Mcgillivray 3 months ago

Consumer confidence fell unexpectedly in the first two weeks of August to its lowest level in six years as households grew increasingly worried about the economy following a sustained surge in coronavirus cases this summer.

The Conference Board said Tuesday that its consumer confidence index, which measures how optimistic consumers feel about the economic outlook, dropped to a reading of 84.8 this month, down from 91.7 in July.

The reading is significantly lower than what analysts predicted and a drastic drop from a year ago. In August 2019, the index sat at 134.2.

The measure is a worrying sign that

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Small businesses in emerging Asia need more support to survive coronavirus fallout, International Finance Corporation says

Deedra Mcgillivray 3 months ago

Micro, small and medium-sized businesses remain some of the hardest hit in Asia-Pacific from the coronavirus pandemic and will need additional support as the regional economy recovers this year, according to the International Finance Corporation (IFC), which provides financing for private sector companies in developing markets.

Vivek Pathak, the IFC’s regional director for East Asia and the Pacific, said the sister organisation of the World Bank was examining ways it could provide further support to small businesses, including potentially taking on a portion of the risk associated with loans made by commercial banks to these companies.

“When the stimulus came

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Reseco Group adds Jason Gard to their Insurance Services Team

Deedra Mcgillivray 3 months ago

PHOENIX, Aug. 21, 2020 /PRNewswire/ — Resecō Group is pleased to announce that Jason Gard has joined their group of companies as Senior Advisor of Reseco Insurance Advisors, LLC a premier partner with United Benefit Advisors (UBA) and Insurance Agency Network (ISU).

Jason brings 25 years of unparalleled expertise in the Insurance Industry and specializes in Employee Benefits. He has been an industry leader in providing innovative self-funding solutions to employers across the country. Jason will be responsible for business development, growth, and strategic initiatives within the organization. With his proprietary solutions, this adds another business improvement resource

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Coronavirus update: U.S. death toll tops 177,000 as FDA head acknowledges he misspoke on convalescent plasma

Deedra Mcgillivray 3 months ago

The U.S. death toll from the coronavirus illness COVID-19 climbed above 177,000 on Tuesday, as experts continued to question claims made about the use of convalescent plasma as a treatment for hospitalized COVID-19 patients and a leading government official conceded he misspoke at a Sunday press briefing.

Food and Drug Administration Commissioner Stephen Hahn acknowledged in a tweet posted late Monday that his comment that a study had shown plasma achieving a 35% improvement in survival was inaccurate. Hahn made the comment, accompanied by President Donald Trump, while announcing an emergency-use authorization for convalescent plasma.

”What that means is —

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ByteDance investors seek to use stakes to finance TikTok bid: sources

Deedra Mcgillivray 3 months ago

TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019.

Dado Ruvic | Reuters

ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people familiar with the matter.

ByteDance has been in talks to divest TikTok’s North America, Australia and New Zealand operations to potential acquirers, including Microsoft and Oracle. President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns

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WeissLaw LLP Investigates Insurance Acquisition Corp.

Deedra Mcgillivray 3 months ago

NEW YORK, Aug. 21, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Insurance Acquisition Corp. (“INSU” or the “Company”) (NASDAQ: INSU) in connection with INSU’s merger with Shift Technologies Inc. (“Shift Technologies”).  Under the terms of the proposed transaction, INSU will acquire Shift Technologies through a reverse merger that will result in Shift Technologies becoming a publicly-listed company.  The transaction has an aggregate consideration of approximately $380 million in INSU Class A common stock, plus an additional 6 million shares of INSU Class A

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Dow extends losses, drops 200 points with Apple set to snap a 5-day winning streak

Deedra Mcgillivray 3 months ago

Stocks fell on Tuesday as Apple shares declined for the first time in six sessions and traders assessed the market’s recent run to all-time highs. 

The Dow Jones Industrial Average dropped 200 points, or 0.7%. The S&P 500 slid 0.1% and Nasdaq Composite was up marginally.

Apple dropped 1.6%, giving back some of its blistering rally into a record valuation. Boeing, Raytheon Technologies and Exxon Mobil also contributed to the Dow’s decline, as each stock fell at least 2.9%.

Earlier in the session, the S&P 500 hit another record high after China and the U.S. resumed trade talks. 

In a

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