Institutional Investor Hall of Famer Richard Bernstein predicts more momentum in stocks closely tied to the economy.He expects more enthusiasm surrounding the state of the recovery will drive more investors away from richly valued mega cap growth names, which include big tech high flyers. "If you're buying them today at these types of valuations, you're effectively making a bet that the U.S. economy, that U.S. corporate profits, will stink going forward — that these are going to be the only companies that can possibly grow," the Richard Bernstein Advisors CEO and CIO told CNBC's "Trading Nation" on Wednesday.Bernstein, who has spent decades on Wall Street, sees upside potential in energy, materials, transports and industrials."History shows very clearly that if you believe that things
A pack of turnaround investors, private equity funds and food groups are vying to snap up Hovis, one of Britain's best-known food brands, in a deal that could be worth well over £100m.Sky News has learnt that firms including Endless, Epiris - the buyout firm which recently snapped up restaurant chains Bella Italia and Café Rouge - and Aurelius Equity Opportunities are among roughly half a dozen parties which have lodged indicative offers for Hovis. The 134-year-old bread producer, which is partly owned by London-listed Premier Foods, was put up for sale three months ago by its controlling shareholder, The Gores Group.Sources said this weekend that Gores' advisers', RW Baird, had also received indicative offers from at least one European food producer and further private investors.Premier F
[unable to retrieve full-text content]Keep up to date with all the latest transfer news, rumours and gossip with the summer window now open… LATEST TRANSFER NEWS Premier League done deals: Every completed signing in summer 2020 transfer window Arsenal ‘accept £20m bid’ from Aston Villa for Emiliano Martinez, goalkeeper set for medical in next 24 hours Kevin De Bruyne […] talkSPORT
Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C.Erin Scott | Getty ImagesDetails of Senate Republicans' version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough relief to small businesses.GOP lawmakers expect to release their aid bill next week. The proposal is expected to call for another round of stimulus checks and an extension of the enhanced federal unemployment payments – albeit "based on approximately 70% wage replacement," according to Treasury Secretary Steven Mnuchin.Small businesses – many of which are feeling the squeeze as coronavirus continues to rage – als
Amber Heard asked her former assistant to conceal the fact she was filming a romantic scene with James Franco from her then partner Johnny Depp as an "insurance policy", the High Court has heard.Kate James, who was Heard's personal assistant for three years, said the actress asked her not to let Depp or his team know she was doing the scene with her co-star in 2015 thriller The Adderall Diaries. Ms James appeared as a witness on day seven of Depp's libel action against the publishers of The Sun, following two estate managers who gave evidence earlier on Wednesday. Here are some of the other key moments from day seven in court: ...