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Bank of America strategist Haim Israel has rounded up the firm's biggest thematic bets for the future and named the stocks that could benefit from many of them at once. Owning these stocks could provide faster growth and an important source of diversification at the same time. Bank of America believes these buy-rated stocks will benefit from preparations for future pandemics, and are also exposed to important themes like the aging population and technological innovation. Click here to sign up for our weekly newsletter Investing Insider. Visit Business Insider's homepage for more stories. If you went all-in on work-from-home stocks a few months ago, the odds are you're happy with how it turned out. But there's more than one way to invest in the future. As the third quarter gets underway, Bank of America Equity Strategist Haim Israel and his team are bringing together no less than 25 major themes for long-term investment and detailing the stocks that are most likely to benefit from each. The big trends they're considering include the world after COVID-19, climate change, the aging population, evolving entertainment technology, human-computer interactions, and the cities of the future. A company at the intersection of many of
Google confirms it's investing $4.5 billion in India's Jio Platforms four months after Facebook's...
Sundar Pichai, Alphabet CEO. David Paul Morris | Bloomberg | Getty Images Google confirmed Wednesday it's investing $4.5 billion into Indian digital services firm Jio Platforms in exchange for a 7.7% stake in the company, which is valued at $65 billion. The investment, reported by Bloomberg on Tuesday and confirmed by Google VP Sameer Samat in a blog post, comes less than four months after Facebook said it was pumping $5.7 billion into Jio Platforms. Owned by Mukesh Ambani's Reliance Industries, Jio Platforms operates the Jio Infocomm telecom network, which has amassed over 388 million 4G subscribers since launching in 2016. Today it is India's top telco, and also has several apps and other services in e-commerce and broadband. Google said it plans to jointly develop an "entry-level affordable smartphone" with Jio Platforms that will be optimized for Android and the Play Store. "Together we are excited to rethink, from the ground up, how millions of users in India can become owners of smartphones," wrote Samat in the blog post. "This effort will unlock new opportunities, further power the vibrant ecosystem of applications and push innovation to drive growth for the new Indian economy." Samat went on to point out that the majority of people in India still don't have access to the internet, and fewer still own a smartphone. The money is being invested via the $10 billion Google For India Digitization Fund, which was announced earlier this week. Samat said the fund has been set up to "accelerate India's digital economy over the next five to seven years through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments." "We are delighted to welcome @Google as a strategic investor in Jio Platforms," Reliance Jio wrote on Twitter. "We have signed a binding partnership and an investment agreement under which Google will invest INR 33,737 crores for a 7.7% stake in Jio Platforms." Ambani, India's richest man, is in the process of trying to sell approximately 20% of Jio Platforms to raise cash for debt-ridden parent company Reliance Industries, which is heavily involved in oil and petrochemicals. Investors have snapped up around $20 billion worth of equity in Jio Platforms in recent months. Intel said it was investing $250 million into Jio Platforms earlier this month and two days ago Qualcomm announced that it intends to invest $97 million. Other U.S. investors like KKR, General Atlantic, Silver Lake and Vista have pumped billions into Jio Platforms. Last month, UAE sovereign wealth fund Mubadala revealed it was investing $1.2 billion in the company, while Saudi Arabia's Public Investment Fund put in $1.5 billion. Facebook's investment was the company's biggest deal since its $19 billion WhatsApp purchase.
New York, July 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Collision Repair Market Research Report by Vehicle Type, by Product, by Distribution - Global Forecast to 2025 - Cumulative Impact of COVID-19" - https://www.reportlinker.com/p05913361/?utm_source=GNWOn the basis of Vehicle Type, the Automotive Collision Repair Market is studied across Heavy-Duty Vehicles and Light-Duty vehicles.On the basis of Product, the Automotive Collision Repair Market is studied across Consumables, Paints & Coatings, and Spare Parts.On the basis of Distribution, the Automotive Collision Repair Market is studied across DIFM, DIY, and OE.On the basis of Geography, the Automotive Collision Repair Market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region is studied across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region is studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region is studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.Company Usability Profiles:The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Automotive Collision Repair Market including Automotive Technology Products LLC, Continental AG,
Prospective buyers visit an open house for sale in Alexandria, Virginia. Jonathan Ernst | Reuters It almost doesn't sound like news anymore: Mortgage rates fell to another record low last week, and that reinvigorated refinance demand. Homebuyers, however, took a step back. Total mortgage application volume rose 5.1% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage demand got a lift from another big drop in mortgage rates. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 decreased to 3.19% from 3.26%. Points, including the origination fee, decreased to 0.33 from 0.35 for loans with a 20% down payment. That rate is 63 basis points lower than the recent high in late March. Applications to refinance a home loan, which are most sensitive to weekly rate moves, jumped 12% for the week and were 107% higher than a year ago. The refinance share of mortgage activity increased to 64.2% of total applications from 60.1% the previous week. Record low rates caused Fannie Mae to improve its housing outlook for the second half of this year. "The continued decline in mortgage rates pushed up our refinance volume forecast by about $100 billion,." said Doug Duncan, Fannie Mae's chief economist. "At the current mortgage rate, we estimate that nearly 60% of all outstanding loan balances have at least a half-percentage point incentive to refinance." Demand from homebuyers fell back 6% for the week and was 16% stronger than the a year ago. That annual comparison, though, was half of what it was two weeks ago. "Purchase activity remains relatively strong, despite the continued economic uncertainty and high unemployment caused by the ongoing pandemic," said Joel Kan, MBA's associate vice president of economic and industry forecasting. The biggest hurdles to homebuying today are lack of supply and rising prices, especially on the lower end of the market. The nation's homebuilders are benefiting from that. Mortgage applications to purchase a newly built home were up over 50% in June annually. Builders, however, are struggling to keep up with the new demand, especially since they basically shut down their operations in March and April.
The Apple Inc. logo is displayed at the company's store in the Omotesando district of Tokyo, Japan, on Wednesday, June 3, 2020. Bloomberg Apple won a court case Wednesday against the European Commission over a dispute concerning 13 billion euros ($14.9 billion) in Irish taxes. In a highly-anticipated landmark decision, the EU's general court decided that the European Commission did not succeed in proving that there was an advantage given by the Irish government to the U.S. tech giant. The Commission, the executive arm of the EU, had concluded in August 2016 that the Irish government granted illegal benefits to Apple and ordered it to recover 13 billion euros in unpaid taxes. At the time, the Commission said that Ireland had enabled Apple to pay "substantially less tax than other businesses over many years," which meant that the U.S. firm was allowed to pay an effective corporate tax rate of 1% on its European profits in 2003, which fell to 0.005% in 2014. The Irish government and Apple decided to appeal the Commission's decision, with the latter arguing the order to repay taxes "defies reality and common sense." Ireland, Apple and the European Commission now have two months to decide if they want to appeal the latest court ruling and potentially take it to the EU's highest tribunal. In reaction to the court ruling, the Irish government said Wednesday that it has always been clear "that there was no special treatment provided to the two Apple companies" and that "the correct amount of Irish tax was charged taxation in line with normal Irish taxation rules." The European Commission said in a statement that it "will continue to look at aggressive tax planning measures under EU State aid rules to assess whether they result in illegal State aid." It added that it "will carefully study the judgment and reflect on possible next steps." A spokesperson for Apple told CNBC: "We thank the General Court for their time and consideration of the facts. We are pleased they have annulled the Commission's case." Apple shares were up around 1.2% in pre-market trade on the news. Why it matters? This case, involving a giant U.S. tech firm, is particularly important and a centerpiece of the EU's crackdown on taxation in recent years. It could impact how the Brussels institution deals with other companies over taxation matters. Taxation is taking an even more prominent role in the wake of the Covid-19 crisis. With many governments stepping up their spending, they will be looking for new sources of revenue in the form of taxation. In this context, there's an ongoing debate as to whether the European Union should have its own digital tax — a levy on big tech giants to ensure they pay a fairer share compared to more traditional businesses. Arancha González, minister of foreign affairs for Spain, told CNBC's "Squawk Box Wednesday": "Whether the companies are American, whether they are Chinese, Japanese, Korean or European, this is about fairness of taxation systems." Plans by some European nations, including Spain, to tax the technology behemoths more have met opposition from the United States, which argues the levy is discriminatory toward its domestic firms. "What we are saying is that fairness requires every economic activity, whether the economic activity is provided analogically or digitally to contribute with their fair share of taxes," the Spanish minister added.