Daily Archive: June 14, 2020

Australia’s largest states further ease coronavirus curbs By Reuters

© Reuters. FILE PHOTO: FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Sydney

SYDNEY (Reuters) – Australia’s two largest states will further ease public coronavirus restrictions at libraries, community centres and nightclubs, officials said on Sunday, despite recording increases in new infections.

New South Wales (NSW), the most populous state, said that from July 1, a 50 person limit on indoor venues such as restaurants and churches would be scrapped, so long as the venues observed a one person per four square metre rule.

Nightclubs and music festivals would also be allowed to operate from August if new cases remain low, NSW Premier Gladys Berejiklian said. The state on Saturday reported the first locally transmitted COVID-19 case in weeks, and state officials on Sunday said there had been nine new infections since late Friday.

In neighboring Victoria, where pubs and other venues are currently limited to 20 people,

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Five things investors like to say that end up costing them money in the long run

Today’s topic is investment statements. Now, we are not talking about investment policy statements, where an investor outlines their goals and objectives for a portfolio. Those statements are extremely important (even though most investors don’t even have one), but we are instead talking today about statements investors like to make, and how they perhaps lead to the wrong decisions within their portfolios. We will try to offer some better alternatives to these commonly heard investor refrains.

‘I’ll sell that stock when I break-even’

Let’s be very clear on this. “Breaking even” is not, and should never be, an investment strategy. The goal of investments is to make money, not get back the same amount of money. But we hear this refrain almost daily. If you have ever said this about your stocks, you should change this investment statement — right now — to: “I must have picked the wrong stock,

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Why Citi is the latest Wall Street giant to back the new MEMX stock exchange, launching this fall

The Members Exchange has a new member in its ranks.

The upstart stock exchange, founded and backed by many of Wall Street’s biggest financial firms, has added Citigroup to its group of investors, it announced Thursday. The Members Exchange, also known as MEMX, is slated to launch Sept. 4 and aims to shake up the New York Stock Exchange-Nasdaq duopoly that has long dominated the U.S. equities market.

Citi’s investment comes in the wake of a $65 million funding round sealed by MEMX earlier this year. That round saw a wave of new investors—including JPMorgan Chase, Goldman Sachs, BlackRock, and Wells Fargo—join an initial group of seed backers that featured Morgan Stanley, Bank of America, Charles Schwab, Citadel Securities, and Fidelity Investments. MEMX had raised a total of $135 million in funding prior to Citi’s backing, according to PitchBook data.

“Although we recently closed … Read More