Bullish market activity in 2021 will cost jobs: $7 billion money manager

Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021.

But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market.

“Companies are going to right-size their business,” Nicholson told CNBC’s “Trading Nation” on Thursday. “This is going to create the divergence between the economy and the market.”

According to Nicholson, it’ll be a major setback to the economic recovery from the Covid-19 due to the hit to consumption.

“A lot of these workers who were furloughed will not end up going back to work,” he said. “They’re going to become permanently unemployed.”

Nicholson already sees the trend unfolding in this week’s layoff announcements from Citigroup and Wells Fargo.

‘The pandemic pledge’

“The pandemic pledge that a lot of companies put out there will go away as they move towards focusing on profitability,”

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Lineage Logistics Raises $1.6 Billion in New Equity to Drive Business Growth and Support Further Investment in Technology and Automation

The MarketWatch News Department was not involved in the creation of this content.

Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has raised $1.6 billion in equity from new and existing strategic partners. Participating investors include Oxford Properties Group (“Oxford Properties”), BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management, and investment funds managed by Morgan Stanley Tactical Value, among others.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200916005331/en/

“This significant investment — from both new and existing investors — is validation of our business model, our innovative strategy and our plans to continue expanding our footprint as the world’s largest temperature-controlled warehousing and logistics company,” said Greg Lehmkuhl, President and CEO of Lineage. “As we reimagine the food supply chain and execute on our company purpose to eliminate waste

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A $1.1 billion project will mean thousands of jobs in Sacramento. Will renters be displaced?

Guadalupe Del Angel-Garcia moved into her North Oak Park apartment 14 years ago and her rent was about $800 a month. Now it’s $1,100.

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The rent is increasingly difficult for her family to pay, especially since her husband was laid off from his restaurant job due to the coronavirus pandemic. But Oak Park is home. She’s lived there more than two decades and belongs to a close-knit community through her church.

When she heard about Aggie Square, a sprawling new project bringing thousands of jobs to the UC Davis Medical Center about a mile away, she was deeply concerned.

“If the rent goes up, it’s going to be overwhelming,” Angel-Garcia said. “It’s going to be fatal.”

In the two and a half years since UC Davis announced the Aggie Square “technology and innovation campus,” anxiety has been growing that it will displace longtime low- and middle-income families in

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Online Education Market in India 2019-2024, 2020 Report on the $14.33 Billion Industry

The “Online Education Market in India 2020-2024” report has been added to ResearchAndMarkets.com’s offering.

Online Education Market in India 2020-2024

The online education market in India is poised to grow by $ 14.33 bn during 2020-2024 progressing at a CAGR of 21% during the forecast period.

The reports on online education market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current India market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increased penetration of Internet and smartphones in India, skill development and employment and government initiatives toward digitization in education. In addition, increased penetration of Internet and smartphones in India is anticipated to boost the growth of the market as well.

This study identifies the emergence of cloud

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UN seeks funding for coronavirus fight, asks for $35 billion more



Antonio Guterres wearing a suit and tie


The UN on Thursday called for an immediate “quantum leap” in funding to fight the new coronavirus as the death toll crossed 900,000 six months after the pandemic broke out.

Alarming figures cropped up, with France registering a record of almost 10,000 new Covid-19 cases over the last 24 hours ahead of a key meeting to decide a toughening of coronavirus measures.

UN Secretary-General Antonio Guterres urged countries to find $15 billion over the next three months to fund the ACT-Accelerator programme, a global collaboration to hunt for a vaccine and treatments led by the UN’s World Health Organization (WHO). “Either we stand together or we will be doomed,” Guterres said, calling the virus the “number one global security threat”.

“We need a quantum leap in funding to increase the chances of a global solution to get the world moving, working and prospering again,” he said.

He said the near

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Almost $14 Billion in Ready Investment to Fuel Post-COVID Economic Recovery at Risk, Report Finds

Delays, obstruction or cancellation of pipeline infrastructure projects are threatening at least $13.6 billion in economic activity, over 66,000 jobs and more than $280 million a year in state and local tax revenue at a time when America’s financial recovery from COVID-19 requires more investment and tax revenue, a new Consumer Energy Alliance report finds.

The report, How Pipelines Can Spur Immediate Post-COVID Economic Recovery,” for the first time quantifies the potential and actual economic harm that anti-energy interest groups and allied policymakers, regulators and even judges are creating, and contrasts that with the harsh COVID-related economic realities that exist right now in states where energy infrastructure is needed – but is being impeded.

The findings of the report, which examines a representative sample of states, demonstrates how new energy infrastructure construction activity could provide relief for struggling families and small businesses, put thousands back to work at wages

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The Technology 202: Trump administration unveils $1 billion quantum and artificial intelligence initiative

The announcement is a shot across the bow in the broader tech race with China – and seems positioned to be a feather in Trump’s cap during the week of the Republican National Convention. 

Ivanka Trump, the president’s daughter and senior adviser who is speaking at the convention this week, credited Trump with this “defining achievement as we continue to shape and prepare this great Nation for excellence in the industries of the future.” 

A significant chunk of the funding which includes $300 million in contributions from academia and industry will go toward establishing new centers focused on research in quantum within five of the Department of Energy labs.  The administration is also awarding $140 million toward seven National Science Foundation-led institutes focused on artificial intelligence, which will be housed at colleges including the University of Texas at Austin, and the University of Illinois at Urbana-Champaign. The investments

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China online education firm Yuanfudao to raise $1.2 billion to nearly double valuation: sources

BEIJING/HONG KONG (Reuters) – Chinese online education platform Yuanfudao is set to raise $1.2 billion in a new funding round which will value it at about $13 billion, according to two people with direct knowledge of the issue.

Yuanfudao’s existing investors, Tencent Holdings (0700.HK), Hillhouse Capital and Boyu Capital, will invest in this round, according to the people. The three are vying for a leading role in the fundraising with Tencent being the frontrunner, one of them said.

The eight-year-old company has nearly doubled its valuation within six months. In March, Yuanfudao raised $1 billion that valued it at $7.8 billion.

The company is planning to raise more fresh capital to include new investors in the near term at a different valuation, said one of the people, who declined to be identified as the information is confidential.

Yuanfudao and Boyu declined to comment. Tencent and Hillhouse did not

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