DAILY DOSE: May 10, 2021
Posted on 05/10/2021
1. FLORIDA and PUERTO RICO. Izzy Englander’s hedge fund business Millennium Management will open two more offices in Florida, one in Miami and one in West Palm Beach. Furthermore, roughly 100 staff from WorldQuant, which manages money for investors including Millennium, are expected to fill the Florida offices. ExodusPoint Capital Management and Millennium Management have established subsidiaries in Puerto Rico. Since Biden’s election win, hedge funds are looking to leave New York and head south to states like Florida and places like Puerto Rico. Dan Morehead’s Pantera Advisors, based in Menlo Park, California, formed in a unit in the town of Guaynabo, according to a filing. Billionaire John Paulson is known for his associations in Puerto Rico.
2. Ethereum rides above US$ 4,000.
3. STOCK BUY BACKS. Online retail giant Amazon.com, Inc. is planning a massive 8-part bond sale. Amazon is selling bonds, US$ 18.5 billion, to refinance debt and buy back stock. The longest portion, a 40-year security, may yield around 115 basis points over U.S. Treasuries.
4. Mainz-based BioNTech plans to set up a regional headquarters and build a new manufacturing site for its vaccines based on messanger RNA gene therapy technology (mRNA) in Singapore.
5. Alibaba founder Jack Ma was spotted visiting Alibaba’s HQ in Hangzhou.
6. Hundreds injured after violent clashes between Palestinians and Israeli police at Al-Aqsa mosque, one of the holiest sites in Islam.
7. Colonial Pipeline expects to “substantially” restore operational service by end of week. On another note, the U.S. Department of Transportation (USDOT) announced as part of the federal government’s efforts to actively assess the implications of the Colonial Pipeline incident and to avoid disruption to supply, that the USDOT’s Federal Motor Carrier Safety Administration is taking steps to create more flexibility for motor carriers and drivers. FMCSA is issuing a temporary hours of service exemption that applies to those transporting gasoline, diesel, jet fuel and other refined petroleum products to Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.
8. STRUGIS HERE WE COME. Harley-Davidson will spin out its LiveWire electric motorcycle into a standalone brand.
9. NBC will not air the Golden Globes in 2022, as they expect a similar audience size from the last awards show.
10. Weber County GOP in Utah voted to censure Utah Senator Mitt Romney 116 to 97 over his vote to convict former U.S. President Trump in two impeachment trials. The resolution states that voting to convict a former president “without sufficient evidence” is “both unjust and unethical.”