(Bloomberg) -- Germany’s financial regulator triggered compensation for depositors in Greensill Bank AG after determining the lender can’t repay all of the cash.BaFin, as the watchdog is known, said a group of commercial banks in the country will now examine depositors’ claims and pay them the amounts they’re eligible for. Lekander believes there is an opportunity for incumbents to make a comeback in 2021. “There are a few golden nuggets, which I think are going to be long-term winners,” Lekander told CNBC’s Squawk Box Europe. The IRS is extending the tax deadline by a month, according to reports Wednesday. Olo Inc., which makes online-ordering technology for restaurants, was welcomed warmly to Wall Street on Wednesday as it seeks to benefit from an on-demand boom that was helped by the coronavirus pandemic. In February 2021, Carnival shares hit new post-crisis highs and even reached the $30 level before pulling back to $28.93. Earlier on Tuesday, a German court in the city of Bremen opened insolvency proceedings for Greensill Bank at BaFin’s request.The Bremen Local Court appointed Michael Frege as the insolvency administrator. Blanch said the main argument for holding bitcoin in a portfolio is not diversification, stable returns or protection against inflation. A dive into Chipotle's financial statements reveals an important fact about the minimum wage: Big companies can handle a hike. This press release includes forward-looking statements that involve risks and uncertainties. Price Action: Tesla shares were down 0.5% at $673.25 in early pre-market trading session on Wednesday. Benzinga does not provide investment advice. Atlas Crest Investment Corp. II is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. And online lender Creditas raised $255 million, led by LGT Lightstone, to boost its valuation to $1.75 billion.$11 Billion of ExitsInvestors were able to cash out at a record rate as well, with $11 billion worth of so-called exits, which include initial public offerings and private equity acquisitions. Unfortunately, the initial rally fizzled and the stock dropped back down to $12.11 by late October. At the beginning of 2020, Carnival shares were trading around $51. Registration statements relating to these securities were declared effective by the Securities and Exchange Commission on February 3, 2021. Latest Ratings for TSLA DateFirmActionFromTo Mar 2021MizuhoInitiates Coverage OnBuy Mar 2021New StreetUpgradesNeutralBuy Feb 2021Morgan StanleyMaintainsOverweight View More Analyst Ratings for TSLA View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaLyft 'On The Precipice Of A Demand Snapback:' Why Wedbush Sees Further Upside In 2021© 2021 Benzinga.com. Each unit consists of one share of Class A common stock and one-fourth of one warrant, each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. What Happened: Lekander has a short position on the Tesla stock and is bullish on German automaker Volkswagen AG (OTC: VWAGY). ®Yà!²â³^ˆè'åyò%]‡Ò‚™Œj/ÊÁtm–‘'ä†Bs[ç–6-$#Ú™Îï¡^™D™¥?ˀä+sÄߥ2Ø¥1{áÇüÿ!HÔ¡€‚óÏ1ØԀüS{ÛhéÔX‚ «| 9lÐlŒb%þJ[ÊvÏăÃðÈ#éÃä Ԅ“,ÆúÖ×Á츜‚Êì}œeË&‘’âKñ+ú@W É Given bitcoin’s supply is fixed, swings in demand are the only thing driving its price action. That is expected to pay out about 1 billion euros ($1.2 billion), and will have to be replenished by 2024, said one of the people. The market value of Elon Musk’s electric vehicle company jumped to over $800 billion in January, before dropping to less than $600 billion in February and is now up again at about $649.7 billion. The IRS said the first direct payments under American Rescue Plan were distributed primarily via direct deposit. “That definitely will continue coming into 2021.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Hint: It’s Less Than Extra Guac. Tesla Inc (NASDAQ: TSLA) shares are going to take a sharp dive as interest rates rise in the aftermath of the COVID-19 pandemic, Lansdowne Partners fund manager Per Lekander told CNBC on Tuesday. It's simply the expectation that prices will rise. For every $1 billion of fresh inflow into bitcoin, Blanch estimates the cryptocurrency will generate additional CO2 levels equivalent to about 1.2 million ICE cars. Non-diversified. Prices Based Purely On Demand: Bank of America analyst Francisco Blanch said bitcoin is akin to other commodities in that its price is driven purely by supply and demand. IRS under pressure to extend income tax return deadline, Here's How Much Investing $1,000 In Carnival Stock One Year Ago World Be Worth Today, Stimulus checks sent to 90 million Americans in the initial round of COVID-relief payments, the IRS says, Oil prices end lower as U.S. supply climbs a 4th week and after IEA deems supercycle unlikely, Stimulus check: Young investors use $1,400 COVID-19 relief payments to join stock market boom, Philippines' fried chicken king eyes global empire, Here’s How Much a $15 Minimum Wage Would Raise the Price of a Burrito. Related Link: Survey Finds 72% Of Investors Believe Bitcoin Experiencing Another Bubble Low ESG Rating: At the same time, Blanch said ESG investors will likely have no interest in bitcoin, which has an extremely harmful environmental impact. A substantial percentage of the Fund's assets are in its top 10 holdings. All rights reserved. The billionaire isn't getting a payment, but he has a strong opinion on how to use yours. Given its size, Deutsche Bank is the largest contributor while Commerzbank is also a major payer.Funds DepletedA payout would mean rising contributions for the fund’s members in coming years, although it’s too early to say by how much, according to people familiar with the matter.Germany’s compulsory deposit insurance fund is also in play. Forward looking statements are statements that are not historical facts. In fact, $1,000 in Carnival stock bought on March 16, 2020 would be worth about $1,633 today. On March 12, Carnival shares plummeted from $21.75 to close at $14.97. Oil futures end lower on Wednesday, after the U.S. government reported a fourth consecutive weekly climb in domestic crude inventories and International Energy Agency deemed a “supercycle” for the commodity unlikely. He also said that the recent surge in GameStop’s shares could be due to rising expectations for the company to adopt a digital business model led by major shareholder Ryan Cohen. New York, NY, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Atlas Crest Investment Corp. II (NYSE: ACII.U, the "Company") announced today that it closed its upsized initial public offering of 34,500,000 units at a price to the public of $10.00 per unit, including 4,500,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. Latin American Startups Had Record Venture Capital Deals in 2020. Blanch said weekly flows into the Grayscale Bitcoin Trust (OTC: GBTC) are a significant demand driver and contributor and to near-term price action. Blanch said bitcoin can only handle about 14,000 transactions per hour compared to the 236 million transactions Visa Inc (NYSE: V) can reportedly handle. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Depending on where you bank, your stimulus check may not land until at least Wednesday. ), Biden may propose $1 trillion in new taxes, says a former aide — and here’s how Congress will react, BofA Slams Bitcoin: 'Impractical As A Store Of Wealth Or Payments Mechanism', Olo, maker of restaurant-ordering tech, pops 39% from increased IPO price, Warren Buffett says do this with your $1,400 stimulus check, Coinbase Registers 114.9M Shares for Public Listing, Gamestop Short-Selling Nets Bill Gross $10M, Who Says Current Volatility 'Perfect Opportunity For Options Sellers', IRS tax deadline changing with taxes expected to be due mid-May, reports say, Tesla 'Going Down' In 2021 As Investors Wake Up To Reality On Incumbents' Potential, Says Fund Manager, Why the stimulus check may not hit your bank account until St. Patrick's Day. Later today, traders will get the opportunity to react to U.S. retail sales data for February at 12:30 GMT, along with import and export prices for that month. The local treasurers had invested at Greensill to escape the ultra-low or negative interest rates at other lenders.“I don’t have sympathy for the municipalities,” Susanne Homoelle, a professor of banking and finance the University of Rostock, said in an interview before the announcement. The SPAC Deal: Urban air mobility company Archer is going public in a SPAC merger with Atlas Crest Investment Corp (NYSE: ACIC). The tax agency is facing growing pressure to extend the filing deadline. %sӂd®‘Pb2…µ­Ÿ›EҘ i¶@¦1ț™LØììˆ]NÐB%s2˜NIk½†‚’H´žyM³„ù(ÑØ.ЎXjC¾ è_>ÿô('þ2.Ø. When are 2020 taxes due? Finally, Blanch said bitcoin is facing tremendous long-term threats from central bank digital currencies, or CBDCs. “Bitcoin has also become correlated to risk assets, it is not tied to inflation, and remains exceptionally volatile, making it impractical as a store of wealth or payments mechanism,” Blanch wrote in the note. That trend was fueled by a hot Brazilian stock market, through which companies and their shareholders raised more than $8 billion in IPOs.Foreign companies such as Advent International Corp., the Carlyle Group and Warburg Pincus LLC sold stakes in companies that went public, according to LAVCA.Low interest rates that have pushed investors to equities for higher returns have driven the global IPO bonanza. Benzinga does not provide investment advice. The Fed thinks a post-pandemic inflation bump might just be temporary: Economist, Powell Holds Dovish Line as Fed Signals Zero Rates Through 2023, Plug Power Rocked by Accounting Errors After Its 1,400% Surge, Food-Ordering Software Firm Olo Jumps After $450 Million IPO, Stocks Gain, Yields Pare Rise After Fed Stands Pat: Markets Wrap, Price of Gold Fundamental Daily Forecast – Light Hedge Buying Ahead of Two-Day Fed Meeting, Greensill Bank Deposits to Be Paid Out as Insolvency Starts, When are federal taxes due in 2021? The Atlas Crest Investment Corp. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. The latter include funds placed in the bank by German municipalities, which stand to be wiped out. However, he managed to book a profit of $10 million and exited the trade when the videogame retailer’s shares finally tumbled. The voluntary fund is expected to pay out 2 billion euros but contributions to refill it can be stretched out over a longer period of time.How much contributions rise also depends on what the funds can recover from Greensill Bank, with historic rates usually ranging above 50%, one of the people said.Representatives for the insurance fund, Deutsche Bank and Commerzbank declined to commentNo SympathyBremen-based Greensill Bank has about 3 billion euros of insured deposits and an additional 500 million euros which aren’t covered, Bloomberg has reported. Why It Matters: Earlier this week, Volkswagen revealed plans to build half a dozen battery cell plants in Europe and expand charging infrastructure for electric vehicles as it aims to overtake Tesla in the race to speed up mass adoption of electric vehicles.
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