Financial
Independent Restaurants Taking on Massive New Debt Obligations
50% Seating Capacity Not Enough for Independent Restaurants to Reopen and Stay Open; Over Four in Five Restaurants Looking for Information on Financial Relief in Order to Reopen; Nearly 75% of Independent Restaurants Reported Taking on New Debt Obligations Over $50,000 in May Q2 2020 hedge fund letters, conferences and more Three in Five Restaurants […]
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Read MoreGig-Workers Across CA Protest in Advance of Judge’s Ruling
#WorkersCantWait: Gig-Workers Across CA Protest in Advance of Judge’s Ruling Q2 2020 hedge fund letters, conferences and more Uber & Lyft continue to break CA law – a federal judge’s ruling may put an end to that. Photos via We Drive Progress and Gig Workers Rising Gig-Wrokers Demand That Companies Obey AB5 (Oakland, CA)— Today […]
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Read MoreNOAA predicts “extremely active” 2020 hurricane season in updated forecast
The 2020 Atlantic tropical storm and hurricane season is now forecast to have an 85% chance of “above-normal” levels of activity by NOAA, as the agency lifted its forecast for the season to call for an “extremely active” few months ahead. NOAA joins other forecasters we track in calling for one of the most active…
Read MorePelosi’s ‘bizarre unrelated things’ holding up second coronavirus stimulus deal
Lawmakers continue to play the blame game over the delay in the next coronavirus relief package. It’s been over ten days since the GOP unveiled its HEALS Act. Still, no deal has been reached. Late Tuesday, Senate Majority Leader Mitch McConnell slammed House Speaker Nancy Pelosi and blamed her for holding up the second coronavirus […]
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Read MoreA Special Place In Hell For Purdue Pharma And Mallinckrodt
Whitney Tilson’s email to investors discussing a special place in hell for Purdue Pharma and Mallinckrodt; Lights Out: Pride, Delusion, and the Fall of General Electric; The world’s best-performing large-cap stock; Global Entry open to New Yorkers again. Q2 2020 hedge fund letters, conferences and more A Special Place In Hell For Purdue Pharma And […]
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Read MoreDan Loeb Opens New Chinese Equity Positions In Q2 Letter
Dan Loeb Q2 2020 letter to investors discusses some new positions in Chinese securities. Dear Investor: During the Second Quarter, Third Point returned 10.8% in the Offshore Fund and 13.6% in the Ultra Fund. Following further gains last month, we have substantially reduced losses incurred during the First Quarter, bringing year-to-date losses for the Offshore […]
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Read MoreRenRe’s third-party investors have “right of incumbency” – CEO O’Donnell
RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has raised capital across numerous platforms over the last year, but the company always ensures investors have a “right of incumbency” on the deals they are already on, according to its CEO. RenaissanceRe (RenRe) has been raising third-party capital for its range of insurance-linked…
Read MoreExplosion in Beirut, Lebanon could drive US$500m+ insured loss
This weeks devastating explosion in the port area of Beirut, the capital of Lebanon, is expected to cost the country as much as US $15 billion, according to an early estimate by officials. Source: AP Photo/Hussein Malla The Governor of Beirut had originally said he expected the costs of the blast to be around US…
Read MoreElevated catastrophes & $529m Covid-19 losses dent Liberty Mutual
U.S. primary insurer and global re/insurer Liberty Mutual has reported suffering an elevated level of catastrophe losses in the second-quarter, as U.S. severe weather affected the firm, as well as a $529 million loss from the Covid-19 pandemic, all of which sent the company to a loss for the period. Liberty Mutual reported a net…
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