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Oil Rises With Equities Advancing and Citi Staying Bullish

(Bloomberg) — Oil edged higher as positive European manufacturing data and rising equity markets gave some respite to recent demand worries.Futures in New York for November delivery rose to over $40 a barrel. The German economy continues to recover thanks to stronger-than-expected manufacturing figures, data showed, while equity markets in Europe are also stronger. Citgroup Inc. said it remains bullish on the outlook for oil, though the market is undergoing a fitful rebalancing.The American Petroleum Institute reported crude stockpiles increased by nearly 700,000 barrels last week, while gasoline inventories shrunk by 7.7 million barrels, according to people familiar, ahead of government data later.After a partial recovery this month, oil prices are now back in the same range as during the northern hemisphere’s summer. With the demand outlook deteriorating in recent weeks, attention is now turning to the OPEC+ alliance and whether it will try to curb output further to rebalance … Read the rest

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Protect Yourself When Taking On A Business Partner

It doesn’t matter if you’re considering a partnership with your sibling or your best friend since kindergarten. When it comes to business, it’s important to start on the right foot. Sometimes what seem like small problems can spiral into massive predicaments, which can put your company in a vulnerable position, which is exactly the place you’d like to avoid. 

If you’re trying to protect yourself (and your company) when taking on a business partner, here are a few ways to minimize your risk long-term:

Always Perform Due Diligence.

Using a site like Check People can save you a massive headache in life, especially when you sign up for a business partnership. Everyone can talk a good game, whether it is a partner that brings a wealth of experience to the table or an investor that could help dominate your industry. What many people don’t like to discuss, however, are their Read the rest

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Financial Planners can use new platform to fund growth

Regionally, the new SME investment venture chaired by 7IM founder Justin Urquhart Stewart, says Financial Planning firms could be the recipients of new investment via its platform.

In an exclusive interview, Mr Urquhart Stewart told Financial Planning Today that Financial Planning and wealth management firms could be among the firms that might receive new investment via Regionally.

Regionally is a platform to bring together investors and SME firms looking to scale up. It aims to invest in firms outside London but will avoid start-ups.

He said: “We are sector agnostic and are therefore very open to facilitating investment in financial services firms and Financial Planning businesses.

“If they fit the criteria, and their application and due diligence process is successful, then as long as they get sufficient interest from our network of investors, then they will be able to receive funding.”

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In addition, Mr Urquhart said Financial Planners

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Nvidia Issues Mea Culpa Over Bungled GeForce RTX 3080 Launch

Nvidia (NVDA) has apologized to customers following the hotly-anticipated launch of its GeForce RTX 3080 launch last week.NVDA called the launch “simultaneously the best GPU launch ever and the most frustrating” after the GeForce RTX 3080 sold out almost instantly.“We expected the best ever demand for the RTX 30-series, but the enthusiasm was overwhelming. We were not prepared for this level, nor were our partners. We apologize for this” it wrote on September 21.Indeed, the Nvidia store was inundated with over 10 times the traffic of its previous generation launch, the chip maker revealed.“The reception to our NVIDIA Ampere architecture GPUs has been off the charts and driven interest to heights we’ve never previously experienced. A few examples compared to our previous launch –  4 times the unique visitors to our website, 10 times the peak web requests per second, and more than 15 times the out clicks to partner … Read the rest

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A Brief Look At Understanding Income Statements And Balance Sheets

A tedious but important task you have to do as a business owner is keep your financial documents up to date. If you’re able to hire a bookkeeper or accountant, they can help make it easier by handling your important documents for you. But most businesses that are just starting out can’t afford accountants, so the owners then need to become literate when it comes to accounting and become familiar with the important documents.

The two key documents are the income statement and balance sheet, though there are more that come into play like the cash flow reports. So why are these documents important, and what is the difference between the income statement and balance sheet?

Why You Need Income Statements And Balance Sheets.

Both income statements and balance sheets offer a detailed look into how well a business is doing financially. Not only is the information listed on them … Read the rest

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Options parent ‘disappointed’ by Adams case appeal

SIPP and cross-border financial services firm STM has expressed “disappointment” at the Court of Appeal’s decision to allow a challenge to the judgment in the long-running ‘Adams’ case.

Last week the Court of Appeal granted Mr Adams permission to appeal the case won recently by STM’s SIPP subsidiary Options, formerly Carey Pensions.

The Appeal court is expected to hear the appeal in early 2021.

In May The High Court found in favour of Carey (Options) in the case that dates back to 2018. 

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Alan Kentish, chief executive of STM, said: “From Options’ point of view, the decision to grant permission for the appeal is disappointing. Clearly, the appeal will be something that is of interest to the whole of the UK financial services market that transacts ‘execution-only’ business, not just the pension industry.  

“The original judgement was detailed and well considered, so we continue to believe that it

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HSBC, JPMorgan, StanChart and others processed trillions of dollars of transactions despite concerns over potential crimes, reports say

Some of the world's biggest banks, including HSBC, JPMorgan Chase and Standard Chartered, moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, according to media reports on Sunday.The disclosures again raised questions about the success of government efforts to stamp out the flow of illicit funds around the globe and the effectiveness of internal anti-money-laundering compliance systems, which global banks have spent tens of billions of dollars to revamp in the past decade.Shares of HSBC and Standard Chartered fell sharply in Hong Kong on Monday after the media reports, with HSBC's stock, at one point, trading at its lowest level since 1995.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.HSBC declined 2.9 per cent to HK$30.05 in morning trading in Hong Kong on Monday, … Read the rest

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How To Keep Members Safe When Reopening Your Gym

There are many gyms in the United States. In the past few months, many of these gyms have temporarily closed due to the COVID-19 crisis. As the number of daily Coronavirus cases starts to decline, many gyms are starting to open their doors again. If you are the owner of a gym that is about to reopen, your main goal needs to be keeping yourself, your staff, and your members safe.

This means you will have to maintain a clean facility and disinfect areas regularly. If you are unsure about how to clean your facility thoroughly, this article tells you all you need to know. This blog is from the website of Pro Solutions Direct, a company that provides an effective and affordable gym disinfectant.

Below are some things you can do to keep your members safe while reopening your gym.

Keep Your Equipment Disinfected.

One of the main … Read the rest

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Covid-19 'damage' boosting demand for financial advice

The financial damage caused by the Coronavirus pandemic is boosting demand for financial advice – with many consumers wanting face to face advice, according to research from adviser network Openwork.

Nearly one in five (17%) of adults say they are now more likely to seek financial advice in the wake of the economic damage caused by Covid-19, increasing to nearly one in four (23%) among under-35s.

One of the major spurs to seeking advice is the financial impact of Covid-19 for individuals. About a third (29%) of adults say the pandemic has knocked their Financial Planning “off course,” says Openwork.

The research found that lockdown and social distancing have not altered how people prefer to receive advice. Nearly two thirds of adults (63%) still want face to face support while 66% believe robo-advice may not meet their needs. 

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Over two fifths (44%) of adults saying they would benefit

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TikTok Owner Seeking $60 Billion Valuation in U.S. Deal

(Bloomberg) — China’s ByteDance Ltd. is seeking a valuation of $60 billion for TikTok as Oracle Corp. and Walmart Inc. take stakes in the short-video app’s business to address U.S. security concerns, according to a person familiar with the matter.Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that won the approval of President Donald Trump, the person said, asking not to be named discussing private negotiations. The two companies would pay a combined $12 billion for their stakes if they agree to that asking price.The final valuation had not been set as the parties worked out the equity structure and measures for data security, the person said. Terms are still in flux and the proposed valuation could still change. Beijing also has yet to approve the deal, though regulators are said to favor any transaction in which ByteDance … Read the rest