(Bloomberg) -- John Malone’s Liberty Media Corp. moved to shore up its Formula One Group auto-racing unit, shifting some assets among Liberty’s wide variety of properties and injecting more cash into the division.The holding company reattributed $1.5 billion in net asset value to Formula One from Liberty SiriusXM Group, the satellite-radio operator, and reattributed another $1.5 billion in net asset value to Liberty SiriusXM from Formula One, according to a statement Thursday.Though the equal allocations make it look like an even deal for the two units, the mix favors Formula One. Liberty shifted Formula One’s entire stake in troubled Live Nation Entertainment Inc. to Liberty SiriusXM, and moved a net of $1.4 billion in cash to Formula One from Liberty SiriusXM.The Liberty shares representing its Formula One stake rose as much as 8.8% to $28.06 in New York trading Thursday, while Liberty SiriusXM shares fell as much as 8.4% to $27.49....
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On Thursday morning, the U.S. Labor Department shared new economic data around the impact of the COVID-19 crisis. For the week ending April 18, another 4.427 million Americans filed for unemployment benefits. Frances Donald, Manulife Investment Management, joins Yahoo Finance to discuss. ...
