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“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes Solar Market

May 2, 2021

China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in a stock sale amid improvement in its business this year, according to a Hong Kong Stock Exchange filing on Sunday. The glass supplier, whose auto industry cust...

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Indian Billionaire Urges Government To Impose Lockdowns In India As New Covid Deaths Reach Another High

May 2, 2021

ToplineDespite international aid efforts ramping up, the second wave of Covid-19 infections in India continues to intensify, yielding a new record high for daily deaths on Sunday and prompting an outcry—from businessmen and public officials alike—for government intervention to help ease the rate of infection. Key Facts In a Sunday stat...

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California Proposes 16.8% Tax Rate & Wealth Tax…Again, Time To Move?

May 1, 2021

California legislators have proposed big tax hikes—again, reprising two tax bills introduced in 2020 that failed to pass. With the economy improving and the state hungry for money, perhaps this year will be different. One tax bill would raise the state’s already stratospheric top income tax rate by up to 3.5% for very high incomes. The other is a c...

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Realty Income Is About To Get Bigger

April 30, 2021

Yesterday morning, two major real estate investment trusts – Realty Income O and Vereit Inc. – announced that they’ll be merging this year. The deal includes Realty Income acquiring Vereit in an all-stock transaction, with the latter’s shareholders receiving 0.705 shares of the takeover stock for each of their own they currently hold....

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Singapore’s Olam To Buy U.S. Spice Maker For $950 Million Ahead Of Unit’s IPO

April 30, 2021

Singapore-listed Olam International said its food ingredients subsidiary is buying Olde Thompson, a U.S.-based maker of private label spices and seasonings, at an enterprise value of $950 million. The agricultural commodities trader said in February that it has appointed financial and legal advisers to prepare for the initial public offering of...

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Blame Olympic Record Price Tag For Return To Deflation Battle Stations

April 29, 2021

Eight years ago this month, the Bank of Japan embarked on one of economic history’s most audacious journeys to end deflation. How far has Governor Haruhiko Kuroda’s team gotten? Not very. In fact, by some measures, the BOJ is now shifting into reverse. That’s the sad implication of Kuroda admitting on Tuesday that rather than 2% inflation, his tea...

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Facebook Posts $26 Billion In Revenue, Shattering Wall Street Earnings Expectations On Record Users

April 28, 2021

ToplineFacebook, the world's largest social media company, posted results for its best first quarter ever Wednesday afternoon, shattering Wall Street expectations thanks to surging advertising revenues despite heightened competition from the likes of Google and threats on the regulatory front. Key Facts Menlo Park, Calif.-based Faceboo...

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Indonesia’s E-Commerce Unicorn Bukalapak Completes $400 Million Funding Round With New Investors: Report

April 28, 2021

Indonesian e-commerce unicorn Bukalapak is said to have attracted more investors in its latest funding round that raised more than $400 million, according to a report from DealStreetAsia.  Bukalapak’s recent corporate filing indicates the London branch of Swiss investment bank UBS Group AG and Malaysian conglomerate Genting Berhad subsidiar...

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When Is The Los Angeles Housing Market Going To Crash?

April 27, 2021

Wow! What a difference a year makes. Just over a year ago, as we entered the Coronavirus lockdown, it seemed you might not be able to give away some houses, and in-person showings were completely shut down in Los Angeles. Now, we appear to be in the midst of one of the hottest national housing markets since before the financial crisis. This paralle...

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Biden Health Official Says ‘Much Higher’ Risk Of Aspirin Causing Major Stomach Bleeding Than J&J Vaccine Causing Blood Clots

April 25, 2021

ToplineWith Johnson & Johnson's Covid-19 vaccine once again cleared for administration in the United States, one of the nation's top health officials is trying to dispel concerns over the single-dose vaccine's "very rare" blood-clotting problems, warning instead that vaccine hesitancy and Covid-19 pose greater risks. Key Facts Spea...