April 18, 2021

Year

Covid-19’s Toll on U.S. Business? 200,000 Extra Closures in Pandemic’s First Year

The economic toll from the Covid-19 pandemic has been tough to measure, but new estimates from the Federal Reserve suggest it wasn’t as bad as feared for smaller businesses.

The pandemic resulted in the permanent closure of roughly 200,000 U.S. establishments above historical levels during the first year of the viral outbreak, according to a study released Thursday by economists at the Fed. In recent years, about 600,000 establishments have permanently closed per year, or about 8.5%, according to the study.

Individual companies account for about two-thirds—or roughly 130,000—of the extra closures if  historical patterns hold, according to the Fed

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Is Palantir Technologies (PLTR) Outperforming Other Business Services Stocks This Year?

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Palantir Technologies (PLTR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PLTR and the rest of the Business Services group’s stocks.

Palantir Technologies is one of 222 companies in the Business Services group. The Business Services group currently sits at #10 within the Zacks Sector Rank. The Zacks

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Stimulus payments: More money is on the way for people who lost their jobs last year

The original payments were based on 2018 or 2019 tax returns. That means people who earned less in 2020 could be owed more money. Once they file their 2020 tax return that shows a lower income amount, the IRS will automatically send them an additional payment.

Separately, families that welcomed new children in 2020 could also be eligible for additional dependent payments.

As of last week, the government had sent out 130 million stimulus payments to those who qualify for the third round of checks approved by Congress in March.

The new payments are worth up to $1,400 per person

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Matteson’s newest Black-owned business opens following year of COVID shutdowns

MATTESON, Ill. (WLS) — A new restaurant and coffee shop opening in the south suburbs is a welcoming sight following a year of closures and shutdowns due to COVID-19.

Red Star restaurant has teamed up with Sip and Savor Coffee to launch the new spot in Matteson.

The 5,000 square foot space is designed to bring the community together.

“We are not here to just make money. We are here to make a difference,” said Trez Pugh with Sip and Savor Coffee House. “In addition, this is a community feel, a modern-day cheers. This place wraps its arms around you.”

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Nomura had stellar financial year until warning of potential losses: Analyst

The warning by Japanese investment bank Nomura that it could incur billions of dollars in losses at a U.S. subsidiary was “pretty unfortunate,” an analyst said on Tuesday.

Nomura on Monday flagged a potential $2 billion loss resulting from transactions with a client stateside. The bank’s shares in Japan plunged following that announcement, declining more than 16% on Monday. Those losses extended into Tuesday, with shares declining 0.66% on the day.

“It’s pretty unfortunate for Nomura,” Pramod Shenoi, head of Asia-Pacific financials research at research firm CreditSights, told CNBC’s “Street Signs Asia.”

Shenoi said “$2 billion dollars … is a

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AbCellera Reports Full Year 2020 Business Results

  • Total revenue of $233 million1 in 2020, up 1,908% year-over-year

  • Total revenue from research fees of $20 million, up 71% year-over-year

  • Total programs under contract of 103, up 72% year-over-year

  • EPS of $0.53 (basic) and $0.45 (diluted) compared to $0.01 loss per share in 2019

AbCellera (NASDAQ: ABCL), a technology company with a centralized operating system for next-generation antibody discovery, today announced financial results for the full year 2020 with the following highlights.

“AbCellera had a breakthrough year, demonstrating strong growth across every area of the business and the effectiveness of our technology and business model through our discovery

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