Coronavirus Stimulus Vote Could Come After Election Day, Negotiators Say [WSJ]
“I’m optimistic that there will be a bill. It’s a question of, is it in time to pay the November rent, which is my goal, or is it going to be shortly thereafter and retroactive?” Mrs. Pelosi, a California Democrat, said Wednesday on MSNBC.
Larry Kudlow, a top White House economic adviser, said on CNBC Wednesday that negotiators were “running out of time, at least between now and the election” and that wrapping up work on a relief package in a lame-duck session, after the election but before the next administration begins, “could be a possibility.”

Wall Street Profits Soar During First Half of 2020 [WSJ]
Pretax profits reached $27.6 billion in the first six months of 2020, the highest first-half haul since 2009, the report said. The industry’s profits for all of 2019 totaled $28.1 billion…. The average Wall Street employee in New York City earned $406,700 in salary and bonuses last year, compared with the private-sector average of $82,900.

TikTok Deal Makers Await Court Ruling on U.S. Ban [WSJ]
The judge will next consider TikTok’s request for an injunction that would prevent the U.S. government from barring U.S. companies from providing web-hosting or content delivery services to TikTok starting Nov. 12…. “Right now the posture is to wait,” said one of the people familiar with the matter, discussing the government’s position.

Former Google CEO Calls Social Networks ‘Amplifiers for Idiots’ [Bloomberg]
“I would be careful about these dominance arguments. I just don’t agree with them,” Schmidt said. “Google’s market share is not 100%.”

U.K. Regulator Pushes Auditors to Sniff Out Fraud [WSJ]
The Financial Reporting Council, which oversees the profession in the U.K. and Ireland, proposed the changes to auditing rules on Tuesday. “Concerns have been raised that auditors are not doing enough,” it said. The changes would make it clearer that auditors have direct responsibility to look for wrongdoing….
The FRC said it wants to create new requirements to identify and assess risks related to fraud. A proposed addition to the auditing rules would clarify that the auditor must be alert for conditions that indicate a record or document might have been falsified. It also wants the team of auditors to discuss how management could perpetrate and conceal fraudulent financial reporting and how assets could be misappropriated.

WhatsApp Outlines Future Payday From Users Messaging With Businesses [WSJ]
On Thursday, the messaging service said it will soon give merchants the ability to store, analyze and manage their WhatsApp communications with customers Facebook’s on company servers…. The hosting services will eventually be accompanied by new options for businesses to market their products via WhatsApp catalogs and through Facebook’s shops and checkout carts. WhatsApp, which charges businesses for certain types of customer interactions, would profit from the embrace of those tools by merchants.

Jony Ive is bringing his design talents to... Airbnb [The Verge]
Airbnb is calling the deal a “special collaboration” as well as a “multi-year relationship to design the next generation of Airbnb products and services,” and that Ive will help develop Airbnb’s internal design team as well — which has apparently undergone some turmoil…. Ive and Airbnb CEO Brian Chesky have apparently been friends for years, with Ive going so far as to pen a 2015 mini-profile of the Airbnb chief for Time Magazine, praising the company’s website design.

Mets' sale to Steve Cohen still has one hurdle to clear: New York City Mayor Bill de Blasio [USA Today]
In the 2006 stadium lease agreement between the Mets and New York City, there’s a provision in which the mayor can prohibit the sale of the team to a “prohibited person,’’ since Citi Field is on New York City owned park land. The lease defines a prohibited person as “any person that has been convicted in a criminal proceeding for a felony or any crime involving moral turpitude….’’ If Cohen’s purchase gets held up with de Blasio, it could cause further consternation among MLB owners, with several already planning to vote against his approval.

In The Hamptons, Sales of Homes Priced at $5 Million-Plus Jumped 291% Last Quarter [WSJ]
The median sales price for a house in the Hamptons, the string of beachfront communities on Long Island’s eastern tip, skyrocketed by 40% to $1.2 million in the third quarter of 2020 compared with the same period a year earlier…. Overall, the volume of sales in the Hamptons was up by 51% from last year….

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By DonkeyHotey (Mitch McConnell - Caricature) [CC BY 2.0], via Wikimedia Commons

Opening Bell: 11.5.20

Wall Street decides it’s OK with what it said would be a nightmare; TikTok still ticking; of Ant and Alibaba; and more!

By Heisenberg Media (Flickr: Elon Musk - The Summit 2013) [CC BY 2.0], via Wikimedia Commons

Opening Bell: 11.13.20

Don’t cross Xi Jinping; TikTok lives; Warren Buffett really bummed Bill Ackman out; the Mooch hits a grand slam; and more!

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Opening Bell: 9.14.20

TikTok, Oracle agree to, uh, something; Deutsche Bank’s compliance sucks, but at least it has some; Luis Rojas better get ready for an earful; and more!

(Getty Images)

Opening Bell: 6.1.17

Morgan Stanley traders suffering the doldrums alongside BofA, JPMorgan; De Blasio gives Wells Fargo the boot; Mr. Met gives fan the finger; and more.

(Getty Images)

Opening Bell: 9.10.20

Don’t deposit your illegally-obtained stimulus money in your bank account with your employer; TikTok, Trump look for face-savings; Paul Singer thinks maybe oil company shouldn’t sell itself; fleeces very nearly coming to Flushing; and more!

By Yolo0906 (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Opening Bell: 8.27.20

Time’s up at TikTok; Bridgewater downsizing; be careful what you wish for Alex Karp; and more!

(Getty Images)

Opening Bell: 9.29.20

“Competent and completely loyal;” gilding and underwriting; TikTok takes; and more!

Opening Bell: 08.29.12

Occupy Sets Wall Street Tie-Up As Protesters Face Burnout (Bloomberg) Occupy Wall Street, the global movement against inequality that ignited in Manhattan last year, will mark its first anniversary by trying to block traffic in the financial district and encircle the New York Stock Exchange. Planning for the Sept. 17 protest, dubbed S17, follows months of internal debate and flagging interest, according to interviews with organizers. The morning action may include attempts to make citizens’ arrests of bankers, and some activists intend to bring handcuffs, they said. “We are here to bring you to justice,” said Sean McKeown, a 32-year-old chemist and New York University graduate who’s helping organize the demonstration. “We’re offering you the chance to repent for your sins.” HSBC Marks Plaza For Eviction Of Hong Kong Occupy Protest (Bloomberg) HSBC is marking out the area in its Hong Kong ground floor plaza that has been occupied by protesters for more than 10 months ahead of their eviction by court-authorized officers. Hong Kong’s High Court has issued a writ of possession empowering a bailiff to re-possess the site, according to an internal HSBC memo obtained by Bloomberg News. Gareth Hewett, a HSBC spokesman, confirmed the content of the memo. “The process by which the bank takes back the plaza has reached a new stage and is now in the hands of the bailiff, whose job is to execute the writ,” according to the memo. The Occupy Central protest in Hong Kong, one of the longest-running demonstrations sparked by the Occupy Wall Street movement, numbered about 50 at the peak. They were ordered by the court to evacuate by 9 p.m. on Aug. 27. Stamford salts aim salvo at hedgie’s hq (NYP) Ray Dalio, founder of $130 billion asset manager Bridgewater Associates, is not making friends in his company’s new hometown of Stamford, Conn. Residents and officials of the coastal city are up in arms after early development of a piece of an 80-acre plot of land — now Bridgewater’s proposed waterfront home — resulted in the surprise demolition of part of a historic 14-acre boat yard. The demolition was specifically prohibited by Stamford officials...“To me, this is the latest outrage by Governor Malloy — giving a water view to a hedge-fund operator and taking away a boat yard that serviced well over 1,000 boats and boaters each year,” said Randy Dinter, a boat owner and member of the group Save Our Boatyard, founded by Maureen Boylan after the boat yard demolition. As Europe's Banks Stall, Companies Look Afar (WSJ) The increased search for alternative sources of funding is yet another indication that Europe's debt crisis is far from over. That could intensify in the fall, when the European Commission, European Central Bank and International Monetary Fund assess whether Greece has done enough to cut its debts. At the same time, some economists expect Spain to seek a rescue package to cut its own debt. Argentines Plan to Shoot Gulls to Save the Whales (NYT) What began as bizarre bird behavior has turned into something out of a horror film for threatened whales in Argentina, where seagulls have learned that pecking at the whales' backs can get them a regular seafood dinner. Seagull attacks on southern right whales have become so common now that authorities are planning to shoot the gulls in hopes of reducing their population...Seagulls around the city of Puerto Madryn discovered about a decade ago that by pecking at the whales as they come up for air, they can create open wounds. Then, each time the whales surface, it's dinner time: Gulls swoop down and dig in, cutting away skin and blubber with their beaks and claws. Marcelo Bertellotti's answer: Shoot the gulls that display this behavior with air rifles and hunting guns, and recover each downed bird before they are eaten along with the ammunition, causing still more damage to marine life. His "100-day Whale-Gull Action Plan" was approved by the government of Chubut, and provincial officials came out Tuesday in defense of it. Ackman: $900M Penney markdown (NYP) Activist investor Bill Ackman has been beating the drums for a sale of mall owner General Growth Properties in recent days, but it’s his stake in JCPenney that’s really causing him grief. The hedge-fund manager confessed to investors that his 18 percent stake in Penney had lowered returns by about $900 million this year. In the latest quarterly investor letter of his $10.5 billion Pershing Square firm, he said Penney “has cost us more than nine percentage points of gross return this year.” The hedge fund lost 6.4 percent in the quarter, after the retailer’s shares slid from their high of $43 in February. Asia's Tide Of Cash Hems Policy Makers (WSJ) Foreign investors are pumping money into several Asian economies, pushing up currencies, stocks and property prices, but threatening to complicate efforts by the region's policy makers to soften an economic slowdown. Investment flows to Southeast Asia and South Korea have swelled in recent months, and overseas money has even crept back into India, as global markets calmed and risky assets became popular again. Analysts expect such markets to get a further boost if central banks in the U.S. and Europe step in with additional measures to bolster their economies. Burglary Suspect Blamed for Thousands of Chicken Deaths (WBOC) Authorities say a Delmar man is facing burglary and related charges following allegations that he got drunk and turned off the power to three poultry houses, which led to the deaths of nearly 70,000 chickens. The Wicomico County Sheriff's Office reports that shortly after 9 a.m., Saturday, Aug. 25, a deputy responded to a reported incident at a poultry farm on the 32000 block of East Line Road in Delmar, Md. The deputy met with the property owner who stated that the electric power had been turned off to his three chicken houses on his property during the night. According to the property owner, this deprived the flock of food, water and cooling fans. As a result, nearly the entire flock was found deceased. Police said that when the property owner entered the control shed that controlled the power, he located an unknown man passed out on the floor of the shed, clad only in a T-shirt and boxer shorts. The man was also lying in a pool of his own urine and had a strong odor of alcohol coming from him, investigators said.