(Bloomberg) -- For most Americans, seven figures would buy them the home of their dreams. For seven Palm Beach homeowners, that’s a year’s property tax.The eye-watering levies underline the Florida enclave’s status as a top destination for America’s wealthiest people. Citadel founder Ken Griffin tops the ranking compiled by the Palm Beach Daily News with a $5.4 million tax, while six of his neighbors also face seven-figure bills. Dozens of others pay more than $500,000, according to the paper.The names are a Who’s Who of prominent business figures. Dealmaker Nelson Peltz ranks second with a $2.2 million charge followed by $1.4 million for KKR & Co.’s Henry Kravis. President Donald Trump’s Mar-a-Lago Club and adjacent homes ranks eighth with a $979,339 bill, followed by radio personality Howard Stern at $962,385.The figures illustrate Florida’s bulging population of billionaires. Dozens of tycoons have made the state their home, often plumping for a property...
Chinese cargo carrier SF Express Group announced that it has tapped the debt capital markets with six-year convertible bonds to raise CNY5.8 billion ($820 million). The group is the second-largest courier ......
Canopy Growth (TSX: WEED) (NYSE: CGC) has announced its Cannabis 2.0 products, including its Distilled Cannabis concept, chocolates, vape cartridges, and vape pens. The company will officially unveil these products on Nov. 28 at a media launch event in Toronto, Ontario. The company is gearing up to supply the Canadian market with a variety of cannabis products. […]The post Canopy to Unveil Cannabis 2.0 Vape Tech, Distilled Cannabis Beverages, and Chocolate appeared first on Market Exclusive....
Tensions between the U.S. and China are seeing a new layer emerge. This comes after President Trump signed legislation on Wednesday in support of the pro-democracy Hong Kong protesters. China denounced the laws but government officials are still adamant that trade negotiations are still on track. Yahoo Finance's Rick Newman breaks it down to Brian Sozzi on "The First Trade."...
(Bloomberg) -- Exchange-traded products are taking up a bigger chunk of Cboe Volatility Index futures trading than they have in about seven years, and that could be depressing the gauge, according to Nomura Securities International Inc.When VIX-linked ETPs roll to the next month, they sell front-month futures on the volatility gauge to buy second-month ones. And when that activity becomes a larger portion of overall futures trading, it could have a bigger influence on the level of the index itself. The current impact of ETP rebalancing on the front VIX future is about 20% of daily volume on the index’s contracts, “just smashing the VIX future,” according to Nomura Cross-Asset Strategist Charlie McElligott.“In a market structure where volatility is your exposure and/or leverage toggle, this creates that second-order signal to lever up/increase exposure to the asset for many volatility control, target volatility, Commodity Trading Advisers trend and risk-parity products,” McElligott wrote...
