Daily Archive: May 23, 2020

Germany’s confirmed coronavirus cases rise by 638 to 177,850: RKI By Reuters

© Reuters. FILE PHOTO: Outbreak of the coronavirus disease (COVID-19), in Cologne

BERLIN (Reuters) – The number of confirmed coronavirus cases in Germany increased by 638 to 177,850, data from the Robert Koch Institute (RKI) for infectious diseases showed on Saturday.

The reported death toll rose by 42 to 8,216, the tally showed.

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Growth stocks are having a moment, but here’s why you shouldn’t forget value plays

It’s a particularly interesting time to be an equity manager given that the market is being led by a narrow group of stocks, which makes it difficult to beat the indexes, but raises up some interesting factoids.

For example, the big five tech stocks (Amazon.com Inc., Microsoft Corp., Apple Inc., Alphabet Inc. and Facebook Inc.) now account for more than 20 per cent of the S&P 500, and their value is greater than Japan’s Topix index. Microsoft alone is almost worth as much as all stocks in the United Kingdom combined. And in Canada, Shopify Inc., our tech star with $2 billion in sales, is now more valuable than Royal Bank of Canada, which last year made $13 billion in profit.

These tidbits are starting to remind me of the late 1990s when tech was dominating and Nortel Networks Corp. grew to be a third of the Canadian stock market.

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These are the changes being proposed to the PPP loan program by the House and Senate

Lawmakers in both the House and Senate are proposing some pretty major changes to the Paycheck Protection Program, as businesses and lobbyists voice concerns the program doesn’t give them enough flexibility to spend the funds.

On Thursday, the Senate adjourned without voting on a bipartisan bill to extend the time frame in which small businesses need to use funds for the PPP loans to 16 weeks, from the current eight weeks, as well as extend the June 30 deadline for applying to Dec. 31 (lawmakers had expected to pass the bill unanimously). The Senate session ended late Thursday without a vote, and senators headed to a weeklong recess.

Under the current legislation, the first recipients of PPP loans are almost out of time to spend the funds.

The new proposed bill in the Senate, spearheaded by Sen. Marco Rubio (R-Fla.), chairman of the Committee on Small Business and Entrepreneurship; Sen. … Read More