Leon Black and Jeffrey EpsteinLucy Nicholson/Reuters, New York State Sex Offender Registry
For five years, Jeffrey Epstein advised Leon Black, the billionaire CEO and cofounder of Apollo Global Management.
On Monday, Black announced he plans to step down as CEO of Apollo in July. The announcement came following an independent review of Black s relationship with Epstein by law firm Dechert.
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And while the review found Black wasn t involved in any of Epstein s criminal behavior, it did uncover $158 million in payments from Black to Epstein for a variety of jobs.
Check out seven takeaways from Dechert s report on its investigation. Read more here.
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The stock rose as high as $260, up 76% from the last close of $147.98. That followed Tuesday’s 93% surge, which meant GameStop has risen more than eightfold this month in a dizzying rally fueled by Reddit-charged day traders.
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Following a frenzied session on Tuesday, the stock’s gains reached new extremes outside regular hours after Tesla Inc. chief Musk tweeted a link to a Reddit thread about the company. Famed fund manager Michael Burry warned that the manic rally has gotten out of hand, calling the stock’s rise “unnatural, insane, and dangerous.”
GameStop’s surge has captivated Wall Street and stymied short sellers including Gabe Plotkin’s Melvin Capital and Andrew Left’s Citron Research. It has also spurred calls for a Securities and Exchange Commission investigation, though experts say it’s difficult to prove chat-room posts are part of an illicit scheme to manipulate the market.
The CEO of Tesla and a billionaire candidate for the California governorship have joined the wild hype around GameStop, a money-losing video game retailer.
The skyward march in GameStop Corp. accelerated Tuesday, its stock nearly doubling during exchange hours and then surging another 50% after being name-checke.
Tesla emissions-credit revenue may boom again in 2021
Stock trades as high as $260, up 76% from Tuesday’s close. Burry warns that rally is “unnatural, insane, and dangerous”.
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27 enero, 2021
Tesla Inc.’s business selling regulatory credits to automakers that need help complying with emissions rules will keep on booming this year, according to Credit Suisse. Regulatory credit revenue probably will rise to $2 billion from about $1.4 billion in 2020, analyst
Dan Levy predicted in a note previewing Tesla’s quarterly earnings Wednesday. He wrote that his estimate for 2021 is higher than consensus of $1.3 billion.
A surge in regulatory-credit revenue had been a major factor in Tesla’s streak of quarterly profits that’s sent shares soaring and made the stock eligible for the S&P 500, according to Bloomberg. Levy suggested in his note that Europe’s stricter limits on automotive carbon-dioxide emissions will present an opportunity for the company this year.