Sunday, 24 Oct 2021

Tiedemann, Alvarium And Cartesian To Create Alvarium Tiedemann – Quick Facts

Nancy Pelosi Reveals The Dismissive Way She Now Refers To Donald Trump

House Speaker Nancy Pelosi (D-Calif.) said at a University of Cambridge event on Thursday that she doesn’t tend to talk about former President Donald Trump.

But when she does, she told the Cambridge Union, “I reference him from time to time with ‘what’s-his-name.’” 

During a discussion about Trump’s two impeachments for the Ukraine scandal and inciting the U.S. Capitol riot, Pelosi also mocked Trump for how he will be remembered if he runs for president again in 2024.

“If he wants to run again, he’ll be the first president who was impeached twice and defeated twice,” she added, garnering applause from the audience.

https://youtube.com/watch?v=g2yNJzDHk8A

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U.S. Treasury yields lower as investors look ahead to new Fed meeting

  • The National Association of Home Builders Survey is out at 10 a.m. ET.
  • U.S. Treasury Secretary Janet Yellen asked Congress on Sunday to raise the federal debt ceiling.

U.S. government debt prices were higher on Monday as investors gear up for a new Federal Reserve meeting.

At around 1.30 a.m. ET, the yield on the benchmark 10-year Treasury note dropped 6 basis points to 1.3633% and the yield on the 30-year Treasury bond fell 7 basis points to 1.9030%. Yields move inversely to prices.

Treasurys

The data calendar is quite thin on Monday. The National Association of Home Builders Survey is out at 10 a.m. ET.

Meanwhile, U.S. Treasury Secretary Janet Yellen asked Congress on Sunday to raise the federal debt ceiling. In an opinion article with the Wall Street Journal, Yellen said failing to raise the debt ceiling could spark a historic financial crisis.

Furthermore, investors are looking ahead to a new Fed meeting, with Chairman Jerome Powell due to speak on Wednesday.

Powell has previously said the central bank could start lifting monetary stimulus before the end of the year and investors will be looking for clues about the tapering process.

Steppe Cement H1 Profit Rises; Turnover Up 17%

Steppe Cement Ltd (STCM.L) reported an increase of 52% in consolidated profit after tax for the six months ended 30 June 2021. The company managed to increase cement prices during the first half of 2021. As a result, gross margin increased from 40% to 46%. Steppe Cement noted that its local market share decreased from 16.5% to 15% due to the strong growth in the overall market. The Group expects to maintain this share for the full year.

For the first half period, consolidated profit after tax increased to $6.2 million from $4.1 million, last year. Earnings per share, in cents, was 2.8 compared to 1.9. Revenue rose to $39.5 million from $33.8 million.

Fox News Host Rachel Campos-Duffy Attacks Kamala Harris For Attending A Football Game

Fox News host Rachel Campos-Duffy on Sunday dismissed Kamala Harris as “the affirmative action vice president” while showing video of the vice president doing the ceremonial coin toss at a college football game. (Watch the video below.)

Harris flipped the coin ahead of the kickoff at Saturday’s game in Washington featuring her alma mater, Howard University, and Hampton University, longtime historically Black college rivals. Harris, Howard class of ’86, is the first woman and first Black person to be elected to the vice presidency.

“She was at a football game, because you know, as the affirmative action vice president who was selected because she was a woman and because she was the right color, she likes to go to these things,” Campos-Duffy sniped on “Fox & Friends Weekend.”

The host, who recently earned brickbats for gushing over North Korean dictator Kim Jong Un’s slimmed physique, attempted to tie Harris’ football appearance to the Afghanistan withdrawal, immigration and earthquake-ravaged Haiti.

“This is the kind of stuff she likes to do,” Campos-Duffy said. “Stuff on the border, not so much.”

H/T Media Matters

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Textron Specialized Vehicles Recalls Off-Road Vehicles Due To Crash Risk

Augusta, Georgia-based Textron Specialized Vehicles has recalled about 6,600 E-Z-GO PTVs and Tracker Off-Road Vehicles due to crash hazard.

According to the company, the parking brake catch bracket can wear out and cause the parking brake to fail, which increases the risk of crash.

The recall involves Personal Transportation Vehicles (PTV) and Utility Vehicles, based on Textron Specialized Vehicles’ TXT chassis, manufactured between March 1, 2021 and June 10, 2021. Recalled vehicles include the E-Z-GO Express S2, S4, S6 and L6, the E-Z-GO Freedom TXT, Valor and the Tracker Off-Road OX 400.

These vehicles are commonly referred to as golf carts or golf cars and are used to transport people and material loads.

Textron said it has received 19 reports of worn parking brake latch brackets, however, no injuries have been reported. The company has asked consumers to immediately stop using the recalled vehicles.

The recalled products were sold through dealerships and online from March 2021 through August 2021 for between $6,000 and $13,000.

Grove Shares Tumble 15% On FY21 Results

Shares of cannabis company Grove, Inc. (GRVI) are down 15 percent on Thursday’s trading as the company announced results for fiscal year 2021.

In full year 2021, the company posted net income of $2.0 million on revenues of $24.1 million.

Currently at $5.05, the stock has traded between $3.86 and $9.37 during the past 52 weeks.

Tiedemann, Alvarium And Cartesian To Create Alvarium Tiedemann – Quick Facts

Tiedemann Group, Alvarium Investments Limited and Cartesian Growth Corporation (GLBL) have entered into a business combination agreement to create Alvarium Tiedemann Holdings, a global investment firm with a pro forma equity value of $1.4 billion. Alvarium Tiedemann’s common stock is anticipated to be publicly traded on Nasdaq under the ticker, GLBL following the closing of the deal.

The deal will be funded through a combination of Cartesian’s cash in trust and approximately $165 million fully committed purchase of shares of common stock of Cartesian pursuant to a private investment in public equity.

Michael Tiedemann will serve as Alvarium Tiedemann’s Chief Executive Officer. Alexander de Meyer will chair the firm’s executive committee.

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