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Saudi fund may invest more than $1 billion in Tesla rival Lucid Motors: report

“The fund, called PIF, is in talks to invest in electric-car startup Lucid Motors Inc., according to Reuters” writes Mike Murphy for marketwatch.com. TSLA, -8.93% private, but it may strike an investment deal with a Tesla rival, according to a report Sunday.Elon Musk is hoping an investment from Saudi Arabia’s sovereign wealth fund can help take Tesla Inc.The report said after an initial $500 million investment, PIF could eventually invest more than $1 billion and gain majority ownership of the Newark, Calif.-based company.Lucid was founded in 2007 by former executives…

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Lira spikes as Qatar said to invest $15 billion in Turkey

“Qatar will invest $15 billion in Turkey, Turkish news site NTV reported Wednesday, citing Turkish officials” writes Anneken Tappe for marketwatch.com. One dollar last bought 5.9910 lira USDTRY, -4.9383% down 5.9%, while the euro fetched 6.7720 lira EURTRY, -4.9873% down 6.1% from Tuesday.The Turkish lira spiked to a session high versus the U.S. dollar and the euro in response. Source: marketwatch.com Share This:

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Corona maker invests $4 billion more in pot producer Canopy

“(Reuters) – Constellation Brands Inc said on Wednesday it would invest $4 billion (C$5.24 billion) more in Canopy Growth Corp , raising its stake in the Canadian marijuana producer to 38 percent” writes Midwest Communications Inc for 95kqds.com. The U.S.-based maker of Corona beer said it would buy 104.5 million Canopy shares at C$48.60 per share, a 51.2 percent premium to the stock’s Tuesday close.The company, which also makes Svedka vodka, took a 10 percent stake in Canopy in October for $191 million, making it the first major wine, beer…

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I’ve saved enough at age 28 that I’ll be a multimillionaire by retirement, and I used Warren Buffett’s favorite investing strategy to do it

“And for all of that $250,000, I’ve invested in the lowest-fee, most broadly diversified Vanguard index funds I could find” writes The Money Wizard for businessinsider.com. Instead, I simply started investing as early as possible, and then designed the lowest-cost lifestyle I was comfortable with.Roughly half of that $250,000 I’ve stashed away in 401(k) and Roth IRA retirement accounts, and the other half is held in post-tax brokerage accounts.At 6% per year, the money I’ve already saved in my 20s should compound into $1,582,525!. Even if you didn’t start investing…

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Alisher Usmanov admits he could invest Arsenal sale money in Everton

“Alisher Usmanov says he could invest more of his billion pound fortune in Everton after severing ties with Arsenal” writes Charlie Eccleshare for telegraph.co.uk. Moshiri decided to invest in Everton in 2016 after a mutual friend of chairman Bill Kenwright, former Arsenal chief executive David Dein, introduced them.Dein, Moshiri and Usmanov have all operated in the same business circles for a long time, which is why the association with Everton keeps emerging. Source: telegraph.co.uk Share This:

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Saudi fund said to be in talks to invest in Tesla buyout deal

“Wall Street is awash with speculation on who might team up with Musk to do a deal” writes Matthew Martin for latimes.com. Musk and his advisors are seeking a wide pool of investors to back a potential take-private of the automaker to avoid concentrating ownership among a few new large holders, according to people familiar with the matter. Musk has said he still expects to own about 20% of Tesla after any transaction, and that he hopes all shareholders will remain owners of a private company. Source: latimes.com Share This:

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Love a Good Bargain? How to Invest in Closed-End Funds at a Discount: Nuveen

“Closed-end funds encompass many different kinds of assets, including senior loans, U.S. large-cap equity, global equity and real assets, among others” writes Nuveen Investments for thestreet.com. Closed-end funds bought during the initial public offering are purchased at original IPO/NAV plus sales charge.Closed-end funds are chiefly designed as long-term vehicles for pursuing strong, regular distributions.Historically, closed-end funds have traded at an average 5.1% discount to their NAV, according to Morningstar Direct.Closed-end funds differ from their open-end mutual-fund cousins in a few important ways. Source: thestreet.com Share This:

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Overstock shares rally as private-equity deal outweigh quarterly loss

“GSR Capital also will purchase up to 3.1 million shares of Overstock shares at a 5% discount to the $35.50 close of Aug. 1” writes Claudia Assis for marketwatch.com. Hong Kong private-equity firm GSR Capital has agreed to invest in the company and its blockchain unit, tZero, Overstock said.GSR Capital plans to invest up to $374.55 million in exchange for tZero shares and Overstock.com shares, according to a statement.GSR Capital will also invest up to $270 million for up to 18% of tZero’s equity at a valuation of $1.5 billion. Source:…

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Walmart and JD.com invest $500 million in a Chinese online delivery company

“A Chinese online grocery delivery company Dada-JD Daojia said on Thursday it has raised $500 million from U.S. retailer Walmart and JD.com in its latest round of financing” writes Zhang Peng for cnbc.com. JD.com is also backed by Chinese tech company Tencent, which operates the country’s largest social messaging platform called WeChat.In June, Google said that it will invest about $550 million in cash into JD.com as part of a strategic investment.Walmart first partnered with Dada-JD Daojia in 2016, according to the Chinese company. Source: cnbc.com Share This:

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Jobs abound

“The $20 billion sum would primarily be used to look into a variety of new technologies to support building components for future cars, use in the pharmaceutical industry, and other use cases like artificial intelligence and 5G mobile capabilities” writes Aug Edt for theverge.com. Samsung is looking to invest around $20 billion into research regarding emerging technologies like artificial intelligence over the next three years, according to a report from CNBC. The investment is only a small part of a larger $161 billion pool that would go toward component research…

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