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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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An Invested Teen Becomes One Of Ohio’s Youngest Homeowners With An Assist From A Harlem Globetrotter

May 1, 2021

At 19, Chloe Green may not be the youngest U.S. teen to buy a home, but she is among a select group of Gen-Z homebuyers who are hoping the trend takes off. Green, who grew up in Columbus, Ohio, closed on a two-bedroom, two-bathroom condominium in Canal Winchester on April 22. Since posting her story on Facebook, Green said many young people hav...

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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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Billionaire Philanthropist Eli Broad Dead At 87

May 1, 2021

ToplineEli Broad, who amassed a multi-billion-dollar fortune from his home-building and insurance businesses, and used his wealth to fund cultural improvements throughout his adopted hometown of Los Angeles, died Friday at age 87.  Key Facts A spokeswoman for the Eli and Edythe Broad Foundation confirmed his passing to the New Yor...

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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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Climate Leaders Are Aligning To Net-Zero: What Does This Commitment Mean?

April 28, 2021

Net-zero climate commitments are all the rage. Former Bank of England Governor Mark Carney recently led the launch of the Glasgow Finance Alliance for Net Zero (GFANZ). The UN-convened Net-Zero Banking Alliance (NZBA) announced net-zero commitments from 43 global banks. At President Biden’s climate leaders’ summit, numerous countries were pressed a...

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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...