Exceeded its target

Share to Twitter Share to Linkedin Welcome to the Checks & Imbalances newsletter . Today we get you caught up on this week’s abundance of Trump news. Mar-A-Lago Is Looking To Hire 91 Foreign Workers This Year M ar-a-Lago, former president Donald Trump’s private club-cum-legal residence at the center of an investigation into his handling of classified government documents, has relied on temporary foreign workers to keep the sprawling estate humming. Last year, the Trump Organization sought 87 foreign workers for the Palm Beach property, up from 78 a few years earlier. It’s not clear how many were hired, but no doubt at least some likely had backstage access to political theater (maybe even scraps of presidential records floating in toilets ). On Monday, the Federal Bureau of Investigation raided Mar-a-Lago, with one of Trump’s attorneys confirming the agency’s search related to an investigation into his handling of classified … [Read more...] about Checks & Imbalances: Mar-A-Lago’s Busy Week

It’s been a tough week for chip stocks. On Monday, Nvidia had warned its revenues would be well below its guidance as gaming revenue slowed. Then Micron cut its current-quarter revenue and warned of negative free cash flow for the quarter as customer inventories pile up amid weakening demand for chips used in PCs and smartphones. Micron ( MU ) shares fell nearly 4%, while Nvidia ( NVDA ) shares fell another 4% after losing 8% the day before. The Micron warning also rattled other chip and chip-related stocks. Lam Research ( LRCX ), Applied Materials ( AMAT ), and KLA ( KLAC ) shares fell over 7%. Micron said fourth quarter revenue is likely to come in at or below the low end of the company’s prior forecast. Its earlier range of $6.8 billion to $7.6 billion had fallen short of analyst targets in June. The company also warned it could see significant sequential declines in revenue and margins in the first quarter due to a fall in shipments. The news came as Micron … [Read more...] about Micron Warning Rattles Chip Stocks

Mukesh Ambani Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reliance Industries added 2.32 lakh jobs in FY 2021-22 which took its total workforce strength to 3.43 lakh at the end of FY22, according to the company's integrated annual report. Reliance's telecom arm Jio, which is India's largest digital services platform, has completed 5G coverage strategy for top 1,000 cities, with 100 percent indigenous technology. Also Read: RIL aims to be ‘preferred provider’ for mobility solutions with fuel retail, EV charging network Reliance expects its green power segment to emerge as a growth engine for the company that would potentially outperform other businesses in the next 5-7 years, Chairman and Managing Director Mukesh Ambani told shareholders in a message. The telecom-to-energy conglomerate, which is India's most … [Read more...] about Reliance creates 2.32 lakh jobs in FY22, Jio prepares blueprint for 5G coverage

The Nifty50 extended its northward journey for the fifth consecutive session on August 12 and registered a fresh closing high ahead of inflation and industrial output data due later in the day. Positive European cues, a fall in volatility, and buying in metal, select banking & financial services along with index heavyweight Reliance Industries aided the rally. The index witnessed bullish candle formation on the weekly scale for the fourth consecutive week, indicating the mood is positive, while on the daily charts, there was a small-bodied bullish candlestick pattern with a higher high formation. As long as the index holds the previous bullish gap zone of 17,566-17,632, the uptrend is expected to continue till 17,800-17,900-18,000, but small bouts of volatility and consolidation can't be ruled out after a rally in four straight weeks, experts said. The mood was also positive in the broader space with moderately decent breadth. The Nifty Midcap 100 and Smallcap 100 indices … [Read more...] about Technical View | Bullish candle on Nifty’s weekly scale indicates positive sentiment

GAS PRICES SHATTER RECORD HIGHS… USA TODAY: Gas prices are now the most expensive in US history, breaking record from 2008 After days of dramatically rising gas prices in wake of Russia’s invasion of Ukraine, the national average for a gallon of gas is now the highest in United States history, breaking the record that stood for nearly 14 years. As of Tuesday morning, the cost of regular gas in the U.S. is $4.17, according to AAA, up from $4.06 on Monday. Last week, the average cost was $3.60. The previous national average high was $4.11, set on July 17, 2008, according to AAA. The cost for diesel is also nearing the record of $4.84, which was also set in July 2008. The current price for a gallon of diesel is $4.75, over double what it was in October 2020. WORSE THAN HOLLYWOOD COULD IMAGINE… ‘I Am Legend’ Set A Prediction For Gas Prices In The Apocalypse. Prices In Beverly Hills Just Surpassed It In one rich pocket of the country, gas is officially more … [Read more...] about Editor Daily Rundown: Gas Prices Shatter Record Highs

Share to Twitter Share to Linkedin Topline While most attention may have been focused on the FBI’s Monday evening search at Mar-a-Lago, the past week has seen a stunning series of legal setbacks and developments for former President Donald Trump and those in his orbit—culminating Friday with the revelation that Trump is under investigation for potentially violating the Espionage Act. Timeline Friday, Aug. 5 Digital World Acquisition Corp., the special purpose acquisition company seeking to merge with Trump’s Truth Social platform, requested in a Securities and Exchange Commission filing that it have another year to close the deal due to investigations by the SEC and the Department of Justice , potentially derailing the plan to take the platform public. Monday, Aug. 8, 1:35 p.m. CNN reported that a lawyer representing the plaintiffs in a defamation suit against Infowars host Alex Jones had turned over two years of Jones’ texts to the … [Read more...] about Legally, It’s Been A Rough Week In Trumpworld—A Timeline

Share to Twitter Share to Linkedin Topline In an apparently coordinated action, at least four major state-owned Chinese companies said Friday they intend to delist their stocks in the U.S., as Beijing appears unwilling to bend to increased U.S. scrutiny into the country’s financial auditing practices. Key Facts Aluminum Corp. of China, China Life Insurance, PetroChina and Sinopec all announced they plan to delist from U.S. stock exchanges within the next month. The quartet are among the largest companies in China and in the world: According to Forbes ’ list of the 2,000 largest public companies globally released in May, PetroChina is the 21st largest company in the world, Sinopec the 45th, China Life Insurance the 71st and Aluminum Corp. of China the 853rd. All will remain listed on the Hong Kong and Chinese exchanges. Chinese financial regulators said Friday the delistings are routine and talks with foreign regulators are … [Read more...] about Several Large Chinese-Owned Companies Announce Plans To Delist From NYSE

UPDATE The foreign man spotted parrotfishing off an island in South Thailand’s Krabi province has said today that he is sorry for his actions. The man had been fishing in the Hat Noppharat Thara-Mu Ko Phi Phi National Park. Catching fish in a national park is illegal under Thailand’s National Park Act BE 2562. A storm of Thai netizens went ham calling out the unnamed man, who had posted a TikTok video of himself fishing this week. The netizens pointed out that parrotfish are a protected animal. Following the outrage, the man posted a message on TikTok insisting he didn’t know he could fish at the park, and that he was deeply sorry. The director-general of the Department of National Parks, Wildlife and Plant Conservation has ordered an examination of the man’s video clip, to swiftly prosecute him. In the video, the man is seen with three parrotfishes, one moray eel, and two other unidentified fish. Authorities have also found that the fishing boat’s name is the ‘Erawin.’ … [Read more...] about Foreign parrotfisher in Krabi says he’s sorry

A Criminal Court has sentenced a police officer to 325 years in prison after he was found guilty of asking for and taking bribes totaling 641,000 Baht from a soapy massage parlor in Bangkok, Thailand. The Public Sector Anti-Corruption Commission (PACC) announced today (Friday) that a member of the Metropolitan Police Bureau took 65 bribes from the parlor for alleged violations of the law. He was convicted on all 65 counts and sentenced to five years in prison for each, bringing his total prison time to 325 years. The court reduced the prison term accordingly as Thai law stipulates that consecutive jail terms for all offenses should not exceed 50 years. According to the PACC, it is satisfied with the verdict and has decided not to appeal. Police officers get life in prison Meanwhile, “ Jo Ferrari, ” a former Thai police officer known for his lavish collection of luxury cars, was sentenced along with five subordinates Wednesday to life in prison for torturing and … [Read more...] about Police Officer Sentenced to 325 Years in Prison