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Bloomberg

What Investors With $3.4 Trillion Are Buying During Covid

(Bloomberg) — Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world’s biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company

Sam Walton could very well be smiling down on one of his disciples right now after hitting a dinger out of the ballpark.

Walmart (WMT) CEO Doug McMillon is in fact that baseball smasher. In arguably his most important deal (and there have been quite a few to speak of) since taking over as CEO in February 2014, McMillon over the weekend signed off on a partnership with Oracle that will find it as an investor in social media juggernaut TikTok. Walmart didn’t disclose how much it will pay for its 7.5% stake in the new TikTok Global

Only 1 per cent of the Indian population pays income tax and declares earnings above the non-taxable income. Only 5.78 crore income tax returns were filed by individual taxpayers for the financial year 2018-19 till February 2020. Out of this, only 1.46 crore individual taxpayers filed returns declaring income above Rs 5 lakh, Anurag Singh Thakur, MoS, Ministry of Finance, said in a reply to a question in Lok Sabha. Individual taxpayers with income up to Rs 5

Google has hit back at Paytm, a day after India’s most valuable startup accused the company of violating competition rules after it delisted the Paytm app from the Play Store on September 18 for allegedly violating its gambling policies. In a statement given out to the media over email, a Google spokesperson said that the Paytm app was not pulled from the Play Store for offering cashbacks alone.

Paytm had earlier said that Google had suspended the Paytm app for launching a UPI cashback campaign titled Paytm Cricket League, even as

President Trump told reporters Saturday that he has approved the deal between Oracle and TikTok “in concept,” and the U.S. Department of Commerce followed up by issuing a statement that stayed Sunday’s ban of the app for one week.

In its “Statement on Delayed Prohibitions Related to TikTok,” the department said that “in light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942” until September 27 at 11:59 pm.

More from WWD

Oracle’s proposal for TikTok includes big-box retailer Walmart, which

Given the absence of plausible projections of gross domestic product (GDP) and revenues for FY21, the Centre has decided to not present the customary medium-term expenditure framework (MTEF) in Parliament this year.

However, a finance ministry note warned against the economy being “below its growth potential for long” and stressed the need for governmental expenditure “substituting any slack in aggregate demand” at this juncture.

The MTEF, an obligation under the Fiscal Responsibility and Budget Management (FRBM) Act, is presented

Tesla (TSLA) is planning its battery day for Sept. 22, and analysts and investors are looking forward to hearing what new developments the company has on it. The big topic of conversation lately has been a million-mile battery, but it may be too early for that technology.

UBS analyst Patrick Hummel outlined in a report today what he expects to see revealed at Tesla’s battery day. He has a Neutral rating on Tesla stock and boosted his price target from $160 to $325 per share ahead of the battery day.