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Gates and the world empire win big on the Private Jet company’s 196% wave

Photographer: Luke MacGregor / Bloomberg Photographer: Luke MacGregor / Bloomberg The coronavirus crisis has not stopped the world's wealthy from flying - they are increasingly doing so privately, and some are getting oversized returns from it.Bill Gates, Nassef Sawiris, James Packer and Kerry Stokes have amassed more than $ 1.2 billion in the world's largest operator of private jet bases, according to data collected by Bloomberg. The company, Signature Aviation Plc, has recently become the focus of a takeover battle involving Blackstone Group Inc., Carlyle Group Inc. and Global Infrastructure Partners, helping its shares nearly triple since a low in…

GameStop shares plunge as Reddit rally deflates

GameStop shares plunge as Reddit rally deflates

GameStop shares more than halved on Tuesday as losses piled up on stocks favoured by the army of day traders that have organised on the social media site Reddit.The sharp decline triggered a trading halt in GameStop at one point, as automatic curbs kicked in to calm jittery trading. GameStop as well as others like BlackBerry and AMC Entertainment have become synonymous with the new wave of retail traders that have swept into US financial markets since the pandemic hit the country last year. Last week’s rally in GameStop shares inflicted billions of dollars of losses for hedge funds who…

Clive Palmer’s Mineralogy is suing a private carrier for $ 624,000

PremiAir sent five invoices to Mineralogy for work on the aircraft, totaling $ 586,760.08, between July and October last year.Mineralogy paid $ 624,879.25 for the work over six transactions. The difference between the invoiced amount and the amount paid was not explained in the documents."At all significant times, Mineralogy did not own the aircraft," the mining company claims in court documents.“The work was not approved by Mineralogy or by any person on behalf of Mineralogy.Sir. Palms pictured on the steps of another private plane in 2013.Credit:Jason South"Mineralogy paid PremiAir amounts in proportion to the invoices in the erroneous view that…

Unemployment makes it harder to qualify for, refinance mortgage

Record increases in unemployment claims are creating major roadblocks for consumers who thought they would like to save money by catching a lower mortgage rate. Maybe you thought you might even refinance the mortgage to grab some cash now by taking out some capital built up as your home has grown? Maybe you look at your house like a piggy bank after losing a job during the coronavirus pandemic?It's a thought, but it's a strategy that is unlikely to work. "For people who are unemployed, it will be more difficult to qualify for a mortgage at this time," said Bill…

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