Finance

Used Car Market Emerging as the Dark Horse: 4 Stocks in Focus

If you were waiting for bigger bargains in used car prices amid coronavirus woes, chances are that you have already missed the boat! Used car prices had been badly hit during March and April. Many industry watchdogs were expecting a further fall in the prices. However, with stay-at-home orders being lifted and business activities resuming normalcy, used car prices are picking up.

The Manheim used vehicle value index hit a record in mid-June, increasing around 4% year over year and recovering from the historic drop in April 2020. Used vehicle prices declined 11% in April from a month ago. Used car values were going into a tailspin, similar to what happened during the 2008 financial crisis. But the prices bounced back strongly in May, up 9% from April levels. The used car market is continuing the momentum in June, which is a pleasant development for used car retailers, automakers and

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4 Steps for Using Today’s Small Savings to Make a Big Impact

You have a budget…ish, but if you come up short at the end of the month, you’ve always had your credit card to rely on.

And yes, it seems there’s always an expense that’s left you reaching for the plastic, but in the past few months — since you’ve been stuck inside — you haven’t had to put as much on the card.

That’s been the experience of many Americans: Outstanding consumer credit was down 28.6% in March and nearly 65% April, according to the Federal Reserve.

Here’s all of our coverage of the coronavirus outbreak, which we will be updating every day.

Unfortunately, the belt tightening might be due to a job loss, but many of us simply found more ways to be frugal as we sat at home.

As states ease restrictions and places begin to reopen, you might be feeling the urge to pull out the plastic

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DeFi Protocols Should Act More Like Fiduciaries

Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter.

This week, I grapple with the concepts of financial centralization and decentralization, anchoring around custody, staking and DeFi. 

On the centralized side, we look at BitGo’s acquisition of Lumina, Coinbase Custody and its similarity to Schwab and Betterment Institutional. 

Related: Market Wrap: Bitcoin Trading Flat, Holding at $9.6K

On the decentralized side, we examine the recent $500 million increase in value within the Compound protocol, as well as the recursive loops that could pose a broader financial risk to the ecosystem.

It is a difficult one for me to untangle, in part because I am not sure for what audience I am writing. Ever since starting to work more deeply in the crypto ecosystem, I’ve come across a very different set of norms and

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‘This is where the future is going:’ Amazon Executive on $2 billion Climate Pledge Fund

Amazon (AMZN) launched a $2 billion venture capital fund Tuesday to invest in technologies and services aimed at reducing greenhouse gas emissions. Speaking to Yahoo Finance, Amazon’s Head of Worldwide Sustainability Kara Hurst said the move was yet another step to use the e-commerce giant’s “scale for good” as it sets aggressive targets to become carbon neutral by 2040.  

“This is where the future is going, this is where our products and services are needed, and the fund is another signal on the investment that we’re willing to make,” said Hurst, on Yahoo Finance’s Ticker. 

The Climate Pledge Fund will invest in companies across multiple sectors, though its initial focus will be on transportation and logistics; energy generation, storage, and utilization; manufacturing and materials; circular economy; and food and agriculture, Amazon said.

The fund is the latest step by the Seattle-based company to reduce its carbon footprint amid explosive growth

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DeFi Protocols Should Be Fiduciaries, Not Structured Product Dealers

Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter.

This week, I grapple with the concepts of financial centralization and decentralization, anchoring around custody, staking, and DeFi. 

On the centralized side, we look at BitGo’s acquisition of Lumina, Coinbase Custody and its similarity to Schwab and Betterment Institutional. 

Related: Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns

On the decentralized side, we examine the recent $500 million increase in value within the Compound protocol, as well as the recursive loops that could pose a broader financial risk to the ecosystem.

It is a difficult one for me to untangle, in part because I am not sure for what audience I am writing. Ever since starting to work more deeply in the crypto ecosystem, I’ve come across a very different set of

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Biden outraises Trump for month of May amid coronavirus, George Floyd protests

Democratic presidential candidate Joe Biden has outraised President Trump for the first time this year even as the coronavirus pandemic continues to hit the United States, and George Floyd protests began. 

The former vice president pulled in $80.8 million for the month of May, topping Trump, who pulled in $74 million. 

May was the first month Biden has jointly fundraised with the Democratic National Committee, allowing him to compete on even footing with the president, who has been jointly fundraising with the Republican National Committee (RNC) for months. 

Despite besting the president in total fundraising figures, Biden still lags far behind in cash on hand totals. Trump’s cash on hand equals a staggering $265 million, compared to the less than $150 million in Biden’s coffers. 

According to the Trump campaign, the president has pulled in over $800 million for this election cycle, nearing the $1 billion figure campaign manager Brad

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Sellers Place Key Pics in Cannes Virtual Market

Click here to read the full article.

The Cannes Marché du Film, along with a sales initiative led by Hollywood agencies, is hosting the first major virtual market since the start of pandemic, starting on June 23. Distributors and sales agents are looking forward to it: the turn-up for the online Cannes Marché du Film is significant with more than 7,000 accredited participants as of mid-June.

“As nobody can leave their house, a virtual market is the next best thing. It’s a valid and worthwhile effort … people need something to initiate interactions. If this virtual market can help in some way to stimulate business that’s a great thing,” says Dylan Leiner at Sony Pictures Classics.

More from Variety

Here’s a look at some key titles for sale:

“Balestra”

Director: Nicole Dorsey

Producers: Pierre Even

A disgraced competitive fencer (Tessa Thompson) is aiming for her Olympic comeback. She receives a

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Here’s who’s hiring as the economy reopens and jobless Americans go on the hunt

As states open up their economies, workers who lost their jobs during the pandemic and ensuing shutdowns are on the hunt again.

In May, the economy added 2.5 million jobs — surprising economists — while the unemployment rate fell to 13.3% from 14.7% in April. Still, 20.5 million people remain jobless, per the May jobs report from the Labor Department.

Read more: Unemployment insurance: What it is and how to get it

The good news for job hunters: Not every sector is struggling and those who were recently laid off may be able to find work to meet the growing demand in certain industries. Some companies have such a need for workers that they are forgoing background checks and hiring qualified candidates on the spot.

Here’s where to look.

The economy added 2.5 million jobs in May and the unemployment rate dipped to 13.3%. (Credit: David Foster/Yahoo Finance)

jRetailers

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12 Buzzy Films for Sale at the Cannes Virtual Markets, From Michael Mann to Elisabeth Moss

Click here to read the full article.

No splashy premieres at the Palais. No Croisette-apartment dealmaking. While there won’t be a physical Cannes Film Festival this year, this just might be the most important Cannes ever for getting business done.

As much of the industry’s work has been restricted to development amid the pandemic, agents and buyers are counting on two concurrent virtual markets that start this week to help move those projects forward. And with the fate of fall festivals up in the air, the Cannes markets could be the only opportunity to conduct business en masse for the entirety of 2020.

More from IndieWire

The markets — one spearheaded by American sales agencies and the other run by the official Marché du Film — represent the first major virtual markets to go live since the pandemic roiled the world. Agents say the two are complimentary, rather than competitive:

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Canadians at greater risk of banking app fraud due to COVID-19 trends

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GETTY

Canadians are increasing their use of banking apps and using cash less frequently for payments due to COVID-19, and the Canadian Anti-Fraud Centre warns fraudsters could take advantage of the trend. 

Jeff Thomson, a senior intelligence analyst at the Canadian Anti-Fraud Centre (CAFC), confirmed in an interview that the centre has “not specifically received any reporting on frauds tied to mobile apps” yet, but that because their partners in the U.S. are seeing the problem, Canada likely will too. 

“If they’re seeing this type of reporting down in the U.S., it’s not uncommon for us to start seeing it as well. With COVID-19, in general, the fraud reporting that we have, it’s really been a hit as a group effort, the U.S., the U.K., New Zealand, Australia, France, every country’s reporting on these fraud trends,” he said. 

“Depending on how different countries received their reporting, they might see something

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