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China's financial regulators seized control of several insurers, trust firms and stock brokers linked to one of the country's most powerful oligarchs, in a devastating blow against corporate malfeasance and freewheeling capitalism while the stock market is in the midst of a runaway rally.Huaxia Life Insurance, Tian'an Property Insurance, Tian'an Life, Yi'an Property Insurance, New Times Trust and New China Trust were placed under state ward to "protect the rights of policy holders, customers and serve the public's interest," the China Banking and Regulatory Commission (CBIRC) said in a statement. Separately, New Times Securities, Guosheng Securities and Guosheng Futures were placed under the government's management for a year, the China Securities Regulatory Commission (CSRC) said.The coordinated seizures extend the break-up of Xiao Jianhua's Tomorrow Group, a sprawling empire with stakes in hundreds of publicly listed companies held through a labyrinthian network of entities, that began three years ago. The crackdown of...
China's financial regulators seized control of several insurers, trust firms and stock brokers linked to one of the country's most powerful oligarchs, in a devastating blow against corporate malfeasance and freewheeling capitalism while the stock market is in the midst of a runaway rally.Huaxia Life Insurance, Tian'an Property Insurance, Tian'an Life, Yi'an Property Insurance, New Times Trust and New China Trust were placed under state ward to "protect the rights of policy holders, customers and serve the public's interest," the China Banking and Regulatory Commission (CBIRC) said in a statement. Separately, New Times Securities, Guosheng Securities and Guosheng Futures were placed under the government's management for a year, the China Securities Regulatory Commission (CSRC) said.The coordinated seizures extend the break-up of Xiao Jianhua's Tomorrow Group, a sprawling empire with stakes in hundreds of publicly listed companies held through a labyrinthian network of entities, that began three years ago. The crackdown of...
Vaccine-focused biopharma Dynavax Technologies (DVAX) has announced a collaboration to develop a universal influenza (flu) vaccine with the Icahn School of Medicine at Mount Sinai.Mount Sinai’s work in this area is funded under a contract award from the National Institute of Allergy and Infectious Diseases (NIAID), as part of the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program.The Mount Sinai CIVICs team will evaluate a novel approach they have developed called chimeric hemagglutinin (cHA) designed to protect against all strains of influenza in combination with Dynavax’s CpG 1018TM adjuvant.Adjuvants are added to a vaccine to boost the immune response to produce more antibodies and longer-lasting immunity, thus minimizing the dose of antigen needed. They can also enhance vaccine efficacy by helping to modify the immune response by particular types of immune system cells.The development program will support an Investigational New Drug (IND) application for Phase I clinical trials.There are no approved universal flu vaccines. The effectiveness of seasonal influenza vaccine ranges...
Daimler will stop building Mercedes-Benz sedans in the United States and Mexico as it seeks deeper cuts after posting a smaller-than-expected quarterly loss. The German automaker will halt output of its Mercedes-Benz C-Class sedan in Tuscaloosa, Alabama, leaving the plant producing sport utility vehicles (SUVs) only, it said. "Daimler pre-released better-than-consensus second-quarter numbers," Jefferies analyst Philippe Houchois said in a note....
Undeniably, the novel coronavirus is one of the worst catastrophes in American history. And yet, I can't help but think that the pandemic made Zynga (NASDAQ:ZNGA) great again. Proponents of the mobile video gaming specialist will argue that Zynga stock was already great. However, shares are still down a good-sized discount from their all-time high. So, as Vice President Mike Pence might say, can ZNGA be made great again … again?Source: JHVEPhoto / Shutterstock.com Looking at the situation from a bird's eye view, the evidence strongly points to a hearty, Trump country yee-haw. As the coronavirus started infecting Americans at a blistering rate, a few governors made the painful but critical decision to shut down their state's economies. Later, as New York became the global epicenter for Covid-19, most states had followed suit.Of course, this suited Zynga stock just fine. From its March doldrums, shares began rocketing toward low-earth orbit. Granted,...
Virgin Galactic (NYSE:SPCE) has lifted off, but is today's enthusiasm misplaced? Let's examine what's happening off and on the price chart and see how today's investors can better prepare for a more profitable tomorrow.Source: Christopher Penler / Shutterstock.com Space tourism operator Virgin Galactic is going places. Maybe not today, but it's in the not-so-distant future. And right now, investors are taking stock in SPCE and sending shares higher by nearly 14% Thursday.Oh, those silly fanatical bulls, right? Nope. Today's rally in SPCE is anything but just another confidently and overexcited performance in an overbought market led by Apple (NASDAQ:AAPL), Tesla (NASDAQ:TSLA), Shopify (NYSE:SHOP) or some other large-cap tech giant. It isn't. Really. Thursday's rally was nothing short of a much-needed and well-deserved breath of fresh air for SPCE shareholders.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDespite the Nasdaq Composite index having blasted through its February all-time high more than...
LAKEWOOD, Colo., July 17, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), the largest uranium mining company in the United States, is pleased to announce the recent elimination of a portion of the Company's debt, confirmation of 2020 uranium production guidance, and updates on the value of the Company's significant uranium and vanadium inventories. On July 14, 2020, the Company completed the partial cash redemption of its floating rate convertible unsecured subordinated debentures (the "Debentures") as previously announced on June 11, 2020. On July 14, the Company distributed Cdn$10,430,000 of cash to holders of the Debentures (as of July 8, 2020)....
