Monday, 30 Nov 2020

Sunak Plans Listing Reform to Attract Technology Companies: Sky

Treasury Secretary Warren? Progressives Line Up to Press Their Agenda on Biden

With a Senate majority increasingly unlikely, liberal Democrats are trying to figure out how to achieve their policy goals through the White House.

By Sydney Ember

Biden Says He Will Win Presidency as Ballot Counting Continues

Joe Biden said late Friday he was certain he would win the presidency as his lead widened in several key battleground states. The final outcome remained stalled by the painstaking work of counting ballots.

“The numbers tell us a clear and convincing story: We are going to win this race,” Biden, the Democratic presidential nominee, said in Wilmington, Delaware.

Citing his leads in Pennsylvania, Georgia, Arizona and Nevada, Biden said it was clear that a record number of Americans “chose change over more of the same.”

The former vice president has made brief remarks each night as he awaits the results of the election held Tuesday. His lead in Pennsylvania, where a victory would push him past the 270 Electoral College votes needed to win, widened incrementally all day Friday to sit at nearly 29,000 votes, according to the Associated Press. But the margin was still less than a percentage point and too close to call.

He claimed his share of the popular vote as well as the Electoral College, gave him a mandate to address the coronavirus pandemic, the economy and climate change.

France Adds Record 86,852 New Coronavirus Cases

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France reported a record 86,852 new coronavirus cases Saturday after health authorities said the daily tally was under-reported in recent days.

The country had already posted record increases in the two previous days, a week after the government imposed a second lockdown to attempt to contain the spread of the virus.

The total number of confirmed cases on Saturday hit 1,748,705. Authorities said they would provide an update Monday with revisions of other indicators.

LIVE updates: Biden's 2020 election win draws business leader reaction

Joe Biden has been declared the winner of the 2020 Presidential election in one of the most heated runoffs in history.

Follow all the reaction in the FOX Business Blog. Mobile users click here.

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Biden campaign planning for possible prime-time speech

FILE PHOTO: U.S Democratic presidential nominee Joe Biden speaks about election results in Wilmington, Delaware, U.S., November 6, 2020. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) – The campaign of Democratic presidential candidate Joe Biden is planning for a possible prime-time speech on Saturday as his lead over Republican President Donald Trump continues to expand.

Biden had scheduled a prime-time address on Friday night but several battleground states remained too close to call at that time.

Supporters of President-elect Joe Biden and Vice president-elect Kamala Harris gather in the streets of downtown Denver

Joe Biden supporters celebrate the former Vice President’s victory as hundreds gather near the Colorado State Capitol while some supporters of President Trump showed opposition in downtown Denver on Nov. 7, 2020.

CU Buffs vs. UCLA Bruins live blog: Real-time updates from the Pac-12 football game at Folsom Field – The Denver Post

Live updates, tweets, photos, analysis and more from the Colorado Buffaloes game against the UCLA Bruins at Folsom Field in Boulder on Nov. 7, 2020.

Mobile users, if you can’t see the live blog, tap here.

Stock Alert:  Trade Desk At New High Following Quarterly Results, Outlook

Shares of advertising technology company The Trade Desk, Inc. (TTD) are climbing more than 19% Friday morning on upbeat third-quarter earnings. The company also provided fourth-quarter revenue outlook, better than analysts’ view.

The stock touched a new high of $775.80 this morning.

Net income for the third quarter was $41.2 million or $0.84 per share compared with $19.4 million or $0.40 per share a year ago.

Earnings on an adjusted basis of $1.27 per share beat the average estimate of analysts polled by Thomson Reuters at $0.43 per share.

Revenue for the quarter rose to $216.1 million from $164.2 million in the same quarter a year ago.

For the fourth quarter, the company expects revenue to be between $287 million and $291 million. The consensus estimate stands at $254.97 million

Sunak Plans Listing Reform to Attract Technology Companies: Sky

U.K. Chancellor Rishi Sunak is looking to overhaul the country’s listing regime in a bid to attract more technology companies to London, according to Sky News.

Sunak is planning to start a review of the current rules with Jonathan Hill, Britain’s former European Union commissioner for financial services, being lined up over the weekend to lead it, Sky said Saturday, citing anonymous sources. The plans could be announced next week, according to one banker Sky spoke to.

Reforms likely to be considered include giving technology companies the opportunity to keep more ownership of their business when they go public and allowing firms to have dual class share structures, Sky said, adding that bankers would welcome the changes. A large proportion of technology companies favor the U.S. for listings and the U.K. government wants to make sure more British technology businesses choose London, Sky said.

The Treasury didn’t immediately respond to a request for comment on the plans and Hill’s appointment.

A report from the City of London Corp. last month said Britain should “conduct a regulatory review of listing structures to ensure the U.K.’s competitiveness relative to other equity listing locations.”

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