Bloomberg

2021-02-01 06:13:37 Hello, here's what we're following right now:

In Myanmar, Aung San Suu Kyi and other top leaders were detained by the army in an early-morning raid, said the country’s ruling party. According to reports, the military has taken power for one year. Lines of communications were spotty, making it hard to get information. https://bloom.bg/3rai7V2

The price of silver surged as the Reddit-inspired stock market frenzy spills over into commodities. Retail sites were overwhelmed with demand for bars and coins over the weekend. https://bloom.bg/39CBwYR

And Hong Kong’s notorious subdivided flats — crowded and sometimes no bigger than a single bed — are sparking a Covid crisis. https://bloom.bg/3amxVgp Open / Comment

2021-01-29 15:08:24 GameStop and other day-trader favorites surged back after Thursday’s tumble as brokerages said they would start to ease trading restrictions, setting the scene for another wild day on the markets. https://bloom.bg/3punZbl

Meanwhile Robinhood raised more than $1 billion from existing investors and drew millions more from bank credit lines to weather the storm. https://bloom.bg/36lqMvI

And away from markets: Poland has a new billionaire — thanks to a pandemic-fueled boom in postal lockers. https://bloom.bg/2NN9ykA Open / Comment

2021-01-29 05:51:07 Open / Comment

2021-01-29 05:50:51 Robinhood drew down some of its bank credit lines to ensure it has enough cash to clear trades, sources say. https://bloom.bg/2Yqot6o

In a Bloomberg TV interview, Robinhood CEO Vlad Tenev said the company did so to protect its financial position. Watch the clip below, or the full video here: https://bloom.bg/3r7q5hL

It’s tapped at least several hundred million dollars, a significant amount of money for a firm that was valued at about $12 billion a few months ago, according to one of the people. Open / Comment

2021-01-28 14:46:56 Britain may help the EU shore up its Covid-19 vaccine supplies as AstraZeneca faces severe disruption. The EU failed to convince the drugmaker to divert doses from the U.K. to make up for a production glitch in Europe. https://bloom.bg/39nYt1A

GameStop resumed its rally in early U.S. trading, after a brief outage of the Reddit forum whose users have fueled the stock’s surge. The shares were up 24% at $431 at 6:15 a.m. New York time. The stock has advanced more than 1,700% this year.
https://bloom.bg/3ou8jmS

And oil and gas companies knew they would face a fight with President Joe Biden, who had campaigned on tackling climate change. But nobody expected fossil fuel to come under such an immediate attack. https://bloom.bg/3ooqH0n Open / Comment

2021-01-28 06:24:21 In 11 hours of pure market mania, a new band of day traders sent a range of fringe stocks to gains of 100% or more. We tracked what happened in real time: https://trib.al/2utSoai

You might be wondering whether you should also buy GameStop, AMC and other Reddit-hyped stocks. This is what some financial pros say: https://trib.al/14AMN5I

And in pandemic news: After strict border curbs, mass testing and hard lockdowns, China is using a new method to tackle coronavirus outbreaks: anal swabs. https://trib.al/az9KVer Open / Comment

2021-01-27 15:12:36 French drugmaker Sanofi has agreed to produce 125 million doses of BioNTech and Pfizer's coronavirus vaccine in an unusual collaboration to speed vaccinations efforts in the EU. https://bloom.bg/3qZmpya

GameStop has continued its skyward march in U.S. premarket trading after an Elon Musk tweet. The stock rose as high as $260, up 76% from the last close. https://bloom.bg/3cc8mBv

And the conviction of billionaire Beny Steinmetz has been hailed as a milestone in the fight against corruption in mining. But it's not clear whether he'll ever set foot in prison. https://bloom.bg/3sZy8Pe Open / Comment

2021-01-27 06:58:52 Hello, here’s what we’re following in markets right now:

• On any given day, there may be a dozen tiny, profitless companies that mysteriously go from obscure penny stocks to viral sensations. Here's how it happens. https://bloom.bg/3pquPi2

• GameStop’s surge accelerated as shares nearly doubled on Tuesday. Michael Burry of “The Big Short” fame called the rally “unnatural, insane and dangerous.” https://bit.ly/2YeTD0t

• And short-squeezed hedge funds are now getting hit on their bullish bets too. https://bloom.bg/3pmhSWv Open / Comment

2021-01-26 14:36:39 Germany is urging the EU to limit vaccine exports as a standoff with drugmaker AstraZeneca worsens. AstraZeneca has said that planned deliveries of its Covid-19 jab would face delays. https://bloom.bg/3sROxFv

Private equity titan Leon Black paid Jeffrey Epstein $158 million between 2012 and 2017 — after the sex offender pleaded guilty to felony charges. Here's what Black, one of America's richest men, got for his money. https://bloom.bg/3a5VutL

And it seems that money can buy happiness after all. A new study refutes the theory that above a certain income level dollars don't help your sense of well-being. https://bloom.bg/3qPHEm8 Open / Comment

2021-01-26 04:51:31 House Democrats triggered the start of an unprecedented trial by delivering a single article of impeachment against Donald Trump to the Senate. https://bloom.bg/36flPo6

Ice melting has accelerated so much over the past 30 years that it’s now in line with the worst-case climate warming scenarios outlined by scientists. https://bloom.bg/36cpcfG

And a shortage of auto chips has made global leaders realize how dangerously dependent they are on Taiwan for semiconductors. Meanwhile, China is pushing the world to avoid official dealings with the island democracy. https://bloom.bg/3oiywF0 Open / Comment