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(Bloomberg Opinion) -- As the coronavirus pandemic continues, Bloomberg Opinion will be running a series of features by our columnists that consider the long-term consequences of the crisis. This column is part of a package on the future of transportation. Last month, my wife and I planned our first holiday in six months. It was a hectic experience. Borders between most Australian states had been closed since the start of the coronavirus lockdown. We’d been hoping to fly three hours to the tropical resort town of Cairns in northeastern Queensland state, to escape the Sydney winter and holiday with friends.Within hours of the announcement that Queensland’s border would open, tickets on the handful of flights north started selling out. With so few seats available, yield management — the practice by which airlines monitor minute-by-minute demand for their seats, and raise prices accordingly — was in overdrive. By the time we finally booked, we’d spent about...
The Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) is again making some additions to its lineup.What Happened: BETZ, which debuted in early June, added shares of Landcadia Holdings II, Inc. (NASDAQ: LCA) to its roster after the close of U.S. markets last Friday, marking another roster adjustment for the first and only sports wagering exchange traded fund.Landcadia joins the BETZ lineup at a weight of 2.52%, just ahead of Caesars Entertainment (NASDAQ: CZR), which will likely soon be folded into the ETF's allocation to Eldorado Resorts (NASDAQ: ERI), as the latter is close to finalizing its takeover of the Caesars Palace operator.Why It's Important: The addition of Landcadia to the BETZ roster is notable for a few reasons. First, Landcadia is a special purpose acquisition company -- SPAC -- controlled by Houston Rockets owner Tilman Fertitta.SPACs, the vehicle by which DraftKings (NASDAQ: DKNG) went public earlier this year, are scorching...
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.The global frenzy for electric vehicles that has seen Tesla Inc.’s stock surge threefold is now juicing the shares of a South Korean supplier that has become the world’s biggest maker of electric vehicle batteries.South Korea’s LG Chem Ltd. has surged more than 62% this year to a valuation of more than $30 billion, becoming the sixth-largest stock on the benchmark Kospi index and leaving Hyundai Motor Co., the nation’s largest automaker, in the dust.While LG supplies many automakers, including Hyundai, it’s been particularly fueled by a deal to supply batteries to Tesla’s China factory, which is pumping out Elon Musk’s cars at a growing clip.Expanding EV subsidies in Europe and Tesla’s stupefying rally have buoyed related stocks worldwide despite global economic concerns. Fundamentals matter little, with Tesla just starting to show profit and EV truck...
The Federal Motor Carrier Safety Administration recently announced that the 2020 Trucking Safety Summit will be held virtually on August 5, 2020. The meeting’s focus will be to finding ways to improve the safe operation of commercial motor vehicles on the nation’s roadways. ...
(Bloomberg) -- The euro opened the week on the backfoot after negotiations over the European Union’s shared debt recovery plan continued to drag on.EU leaders have yet to agree terms on a deal that would offer 700 billion euros ($800 billion) to countries most impacted by the coronavirus, after talks ran into a third day. Though expectations for an agreement over the weekend were fairly low, the delay keeps open the prospect of the plan being watered down.The euro fell as much as 0.2% against the dollar to $1.1408 in early Sydney trade on Monday. The greenback also strengthened against most other Group-of-10 peers.A larger euro sell-off is likely to be avoided “thanks to the expectations management,” said Jordan Rochester, an analyst at Nomura International Plc. On Friday, Dutch prime minister Mark Rutte said he saw the chances of a deal being reached over the weekend at less than 50%, while...
Biotech stocks advanced in the week ended July 17 thanks to positive broader market sentiment, encouraging news flow on the COVID-19 front and fairly positive results reported by pharma giant Johnson & Johnson (NYSE: JNJ).Equillium Inc (NASDAQ: EQ) was among the biggest gainers of the week after a drug that it licensed from Biocon was granted emergency use authorization in India for treating cytokine release syndrome in COVID-19 patients with moderate to severe acute respiratory distress syndrome.Moderna Inc (NASDAQ: MRNA) advanced in all five sessions of the week, with detailed interim Phase 1 data publication, positive sell-side commentary and news of inclusion in the Nasdaq 100 Index serving as catalysts.View more earnings on JAZZThe following are key catalysts in the unfolding week.Conferences Galactosemia Foundation 2020 Virtual Conference, July 17-19PDUFA Dates The FDA is set to rule on Jazz Pharmaceuticals PLC's (NASDAQ: JAZZ) NDA for JZP-258, which is being evaluated as a...
