Category: Banks

MARKETWATCH Top News

• Government tax watchdog: IRS should not waste time pursuing $1 billion in stimulus checks sent to dead people
  The IRS did ‘impressive job’ with CARES Act, the National Taxpayer Advocate said Monday, despite sending 74,000 stimulus checks to jailed Americans.
• Dispatches from a Pandemic: ‘You feel like you’re being social — and responsible’: These Americans turned their garages into bars
  Many Americans are enhancing their homes to get a break from the monotony of a summer with fewer options for fun.
• Lawmakers and Transportation Secretary’s family-owned business collectively received millions of dollars in PPP loans
  The Trump administration issued a ‘blanket approval’ ruling in mid-April that allowed lawmakers to avoid an ethical review for potential conflicts of interest when applying for a PPP loan.
• Here’s one ‘remarkable’ difference between COVID-19 and the 1918 Spanish flu
  There are also similarities between the 1918 influenza and SARS-CoV-2, the coronavirus that originated in Wuhan, China.
• Asia Markets: Chinese stocks continue to surge, as Asian markets await word on Australian interest rates
  Asian markets were mixed in early trading Tuesday, as investors awaited an interest-rate announcement by Australia’s central bank.
• The Ratings Game: Tesla’s stock soars to 4th-straight record as Wall Street’s biggest bear raises price target
  Shares of Tesla Inc. charged higher to a fourth-straight record close Monday, after even the most bearish analyst on Wall Street analyst lifted his price target following the electric vehicle maker’s blowout deliveries results.
• Key Words: The stock market is poised for a 40% drop, warns economist who says the current climate feels a lot like 1929
  Gary Shilling, president of A. Gary Shilling & Co., is talking doom and gloom. Again.
• CityWatch: Undetected community transmission in N.Y. drove nursing home deaths, report says
  Asymptomatic staff and possibly visitors unknowingly brought COVID-19 into New York nursing homes.
• The Wall Street Journal: SiriusXM poised to acquire Stitcher podcasting unit from Scripps
  Sirius XM Holdings Inc. is near a deal to buy E.W. Scripps Co.’s (TICKER:SSP)  Stitcher Inc. podcasting unit for around $300 million, according to people familiar with the matter.
• Uber bets on delivery with $2.65 billion acquisition of Postmates as ride-hailing stalls
  In the race to gain a competitive edge in the burgeoning food-delivery business, the major players are carving up the U.S. map.