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Energy Transfer Vows to Keep Pipeline Open After Court Order

(Bloomberg) -- Two days after a judge ordered the controversial Dakota Access oil pipeline to shut by early August, its owner Energy Transfer LP is continuing to schedule shipments and has made no moves to take it offline.The Dallas-based company run by billionaire Kelcy Warren said Wednesday that it’s not currently emptying the pipeline and, in fact, is accepting requests for shipments next month. The U.S. District Court for the District of Columbia had ordered the pipeline to be drained by Aug. 5 while a more robust environmental review is conducted.“We are not shutting in the line,” Energy Transfer spokeswoman Vicki Granado said in an email when asked if the company had begun emptying it. Judge James E. Boasberg “we believe exceeded his authority and does not have the jurisdiction to shut down the pipeline or stop the flow of crude oil.” The company later said in a statement that it has no intention of defying Boasberg’s order.It’s the latest sign that Energy Transfer is preparing for yet another battle over Dakota Access, which four years ago drew months of on-the-ground protests from environmental groups and tribes opposed to the project’s route across Lake Oahe, a dammed section of the Missouri River just a half-mile from the Standing Rock Indian Reservation in the Dakotas.Energy Transfer pressed Boasberg on Wednesday to freeze his “literally unprecedented” decision until an appeals court can weigh in. The company took aim at both the impacts of the judge’s shutdown order, and his underlying conclusion that federal approval for Dakota Access violated environmental law.“Energy Transfer is playing a very dangerous game,” said Earthjustice lawyer Jan Hasselman, who represents the Standing Rock Sioux Tribe against Dakota Access. “They don’t get to ignore a federal court order just because they disagree with it.”Energy Transfer’s strategy likely reflects optimism the ruling will be reversed on appeal or at least temporarily blocked by a higher court.In Washington, energy lobbyists have mused that the shutdown order would be difficult to enforce, according to three people familiar with the discussions.Height Securities LLC also predicts the unprecedented ruling to shut down Dakota Access because of a violation of the National Environmental Policy Act is unlikely to withstand review by the D.C. Circuit Court of Appeals, according to a research note for clients.“The D.C. Circuit case law appears weighted in favor of ET,” especially since cases Boasberg used to justify the decision to shut down Dakota Access did not involve active, operating pipelines, Height analyst Josh Price said in the note.When asked whether Energy Transfer plans to defy Boasberg’s decision if it remains in effect Aug. 5, Granado reiterated that the company doesn’t think he has the authority to shut the line. She later said Energy Transfer’s decision to refrain from emptying the pipeline isn’t meant as an act of defiance, rather the company “is seeking appropriate relief from that order through the established legal process.”Prices for Bakken crude, produced in North Dakota, rose after the news that Energy Transfer planned to keep the line in service. The discount for Bakken at Clearbrook, Minnesota, narrowed 60 cents to $2.15 a barrel against benchmark oil futures in New York, according to data compiled by Bloomberg.Energy Transfer has multiple routine options for fighting the order in court. It’s asking the U.S. District Court for the District of Columbia to suspend the decision, and it’s pursuing an appeal. If those efforts fail, it can ask the U.S. Supreme Court to step in.If Energy Transfer opts to bypass those traditional routes and instead simply refuses to shut down the pipeline, the district court could hold the company in contempt. An outright violation of a court order could result in fines or jail time.(Updates with company statement in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  Energy Transfer Refuses to Shut Down Dakota Access Pipeline Despite Judge's Order

  Motley Fool
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  Oil Prices Range Bound As Pipelines Come Under Pressure

  Oilprice.com

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Wells Fargo & Company of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 3, 2020 - WFC

New York, New York--(Newsfile Corp. - July 8, 2020) -  The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Wells Fargo & Company ("Wells Fargo") (NYSE: WFC) between April 5, 2020 and May 5, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Northern District of California. ...

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  SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Grand Canyon Education, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 13, 2020 - LOPE

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  LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Cheetah Mobile, Inc. To Contact The Firm

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Buffett Dropping Down World’s Richest Ranks as Tech Titans Surge

(Bloomberg) -- Warren Buffett’s $2.9 billion gift this week means he has now given away Berkshire Hathaway Inc. shares valued at more than $37 billion since 2006.His philanthropy -- along with Berkshire’s underwhelming stock performance recently -- is finally starting to weigh on his net worth after years where his fortune defied his annual giveaways to rise ever higher. Buffett’s $68.6 billion is enough for eighth-place on the Bloomberg Billionaires Index, his lowest position since the index started in 2012. He ranked in the top 5 as recently as June.But in recent weeks the 89-year-old has been leapfrogged first by Steve Ballmer, the former Microsoft Corp. chief executive officer, and this week by Google co-founders Larry Page and Sergey Brin. The changes underline the extent to which technology fortunes now dominate the upper echelons of the world’s richest people.Six of the seven richest people on the planet owe their wealth to the sector, including No. 1 Jeff Bezos, who has added $68 billion to his net worth this year, and Ballmer, who’s gained $18 billion. Tech fortunes are the best performing on the index, up 25% in 2020.Ballmer’s fortune has soared thanks to the 4% stake he’s estimated to have retained since leaving Microsoft’s board in 2014. The software company’s shares have risen almost fivefold since then, boosting his fortune to $76.5 billion. Ballmer declined to comment on his Microsoft stake. Berkshire didn’t respond to a request for comment.Buffett may welcome signs his gifts are shrinking his fortune. His pledge to give away his fortune only got harder as his fortune continued to rise. In his latest letter to shareholders he said he expects it will now take 12 to 15 years for his estate to dispose of all the shares he holds at the time of his death.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  Warren Buffett donates $2.9 billion to Gates Foundation, family charities

  Reuters
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  Warren Buffett has given almost half of his fortune to charity. He would still be $49 billion poorer than Jeff Bezos if he had kept it.

  Business Insider

Energy Transfer Refuses to Shut Down Dakota Access Pipeline Despite Judge's Order

Oil infrastructure giant Energy Transfer (NYSE: ET), which operates the controversial Dakota Access Pipeline, is vowing not to shut down the major crude artery in spite of a court order. On Monday, July 6, U.S. District Court Judge James Boasberg issued a ruling that the pipeline would have to shut down by August 5 for a thorough environmental review, which could take up to 13 months. On Wednesday, Bloomberg quoted Energy Transfer spokeswoman Vicki Granado as stating bluntly in an email, "We are not shutting down the line."

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  Oil Prices Range Bound As Pipelines Come Under Pressure

  Oilprice.com
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  Judge rejects Dakota Access request for emergency order

  Associated Press

Zillow Group (ZG) Expands Home Buying Amid Easing Lockdowns

Zillow Group (ZG) resumes home buying for Zillow Offers in five additional markets as the U.S. real estate market continues to display resilience.

USD/CAD Daily Forecast – U.S. Dollar Fails To Develop Upside Momentum

USD/CAD failed to settle above the 20 EMA and moved back into the previous trading range.

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  Silver Price Daily Forecast – Silver Rallies Above $18.50

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  AUD/USD Price Forecast – Australian Dollar Continues to Face Same Resistance Barrier

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Sometimes, Valuation Is the Most Important Consideration

It pays to check the valuation before investing because it isn't always the best companies that have upside potential.

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  CSIQ vs. FSLR: Which Stock Should Value Investors Buy Now?

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HIW or DLR: Which Is the Better Value Stock Right Now?

HIW vs. DLR: Which Stock Is the Better Value Option?

• P/E Ratio Insights for AT&T

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• A Look Into Bank of New York Mellon's Price Over Earnings

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Warren Buffett Donates $2.9 Billion of Berkshire Shares to Charities

(Bloomberg) -- Warren Buffett gave Berkshire Hathaway Inc. shares valued at about $2.9 billion to charities including the Bill & Melinda Gates Foundation as part of his annual plan started more than a decade ago.The nearly 16 million Berkshire Class B shares were donated to a total of five philanthropies, including ones run by his children, according to a statement Wednesday. Buffett has given more than $37 billion with the routine gifts and a few other philanthropic donations since 2006.Buffett, 89, built one of the world’s largest fortunes out of his Omaha, Nebraska-based conglomerate. He’s pledged to donate all of the Berkshire shares he owns to various philanthropies after his death, and outlined that plan in February in his annual letter to shareholders.His latest gift, which cuts his net worth to around $69 billion, will likely see him fall two places to eighth-richest on the Bloomberg Billionaires Index with Google co-founders Larry Page and Sergey Brin set to leapfrog him on the ranking. The list officially updates after the close of each trading day in the U.S.Buffett has been close to Bill Gates for years, with the co-founder of Microsoft Corp. previously serving as a Berkshire director. Other groups receiving donations were the charity named after his late wife, the Susan Thompson Buffett Foundation, as well as ones led by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.The investor said Wednesday that he’s received only “minor” tax-deduction benefits from the gifts. Over the past 15 years, every $1,000 of contributions has allowed him to deduct a little less than $1 from his taxable income, according to the statement.(Updates with wealth details in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Warren Buffett donates $2.9 billion to Gates Foundation, family charities

In a statement on Wednesday, Berkshire said Buffett's 15th annual donation comprised 15.97 million Class B shares of Berkshire. It boosted his donations to the charities to more than $37.4 billion since Buffett, who turns 90 on Aug. 30, began giving his Berkshire shares away in 2006. Four-fifths of the donations go to the Gates Foundation.

Canadian dollar rallies, bond yields jump on Ottawa's spending forecast

The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Wednesday and yields on Canada's long-term debt rose by the most in nearly four months as Ottawa forecast its largest budget shortfall since the Second World War. The loonie <CAD=> was trading 0.7% higher at 1.3503 to the greenback, or 74.06 U.S. cents. "Clearly the initial rally was supported by global risk appetite," said Karl Schamotta, chief market strategist at Cambridge Global Payments.

Are Options Traders Betting on a Big Move in Energy Transfer (ET) Stock?

Investors need to pay close attention to Energy Transfer (ET) stock based on the movements in the options market lately.

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  Implied Volatility Surging for Virgin Galactic (SPCE) Stock Options

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  Do Options Traders Know Something About Noble Midstream Partners (NBLX) Stock We Don't?

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Wells Fargo Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Wells Fargo & Company To Contact The Firm

New York, New York--(Newsfile Corp. - July 8, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Wells Fargo & Company ("Wells Fargo" or the "Company")(NYSE:WFC) of the August 3, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.If you invested in Wells Fargo stock or options between April 5, 2020 and May 5, ...

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  SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Conn's, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 14, 2020 - CONN

  Newsfile
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  WFC ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of August 3, 2020 in the Class Action Filed on Behalf of Wells Fargo & Company Limited Shareholders

  Newsfile

Top Ranked Growth Stocks to Buy for July 8th

Top Ranked Growth Stocks to Buy for July 8th

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  Bull Of The Day: Blackbaud (BLKB)

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  Amazon's Shares March Higher, Can It Continue?

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5 Battered Stocks to Keep on Radar Amid Coronavirus Sell-Off

Here we discuss five stocks, which have lost significant worth so far this year but show great potential to bounce back.

After 4 Years, Buffett Finally Goes Shopping: Here Are 5 Things You Need to Know

What does Berkshire Hathaway's deal with Dominion Energy really tell us about the Oracle of Omaha's acquisition strategy?

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  Warren Buffett donates $2.9B to charity, topping $37B since 2006

  Yahoo Finance Video
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  Warren Buffett Donates $2.9 Billion of Berkshire Shares to Charities

  Bloomberg

WFC ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of August 3, 2020 in the Class Action Filed on Behalf of Wells Fargo & Company Limited Shareholders

New York, New York--(Newsfile Corp. - July 8, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Wells Fargo & Company (NYSE: WFC) alleging that the Company violated federal securities laws.Class Period: April 5, 2020 and May 5, 2020Lead Plaintiff Deadline: August 3, 2020Learn more about your recoverable losses in DNK:http://www.kleinstocklaw.com/pslra-1/wells-fargo-company-loss-submission-form?id=7833&from=5The filed complaint alleges that Wells Fargo & Company made materially false and/or ...

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  Wells Fargo Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Wells Fargo & Company To Contact The Firm

  Newsfile
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  SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Conn's, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 14, 2020 - CONN

  Newsfile

A Quiet Economic Calendar Leaves COVID-19 to Test the Risk Appetite

A lack of economic data will leave the markets in the hands of COVID-19 updates and any chatter from China or the U.S…

Kimco Realty Announces Pricing of Inaugural Issuance of Green Bonds

Kimco Realty Corp. (NYSE: KIM) today announced the pricing of its public offering of $500 million aggregate principal amount of 2.700% notes due 2030 (the "green bonds") with an effective yield of 2.751%, maturing October 1, 2030. The offering is expected to settle on July 13, 2020, subject to customary closing conditions.

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  Simon Taps Debt Market to Raise $2B on Senior Notes Sale

  Zacks
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  American Tower Corporation Announces Completion of Redemption of All Outstanding 3.450% Senior Notes and 3.300% Senior Notes

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Kimco Realty Debuts Green Debt as It Boosts Focus on ESG Issues

(Bloomberg) -- Kimco Realty Corp., which owns and operates open-air shopping centers, issued debt for the first time to finance environmentally-friendly projects.The real estate investment trust sold $500 million in green bonds after the offering was boosted by $200 million amid strong investor demand, according to a person with knowledge of the matter. The single-tranche offering maturing in 10 years yields 2.1 percentage points above Treasuries, after initial discussions of around 2.55 percentage points, said the person, who asked not to be identified as the details are private.Corporations and governments have raised about $93 billion in green bonds in the first half of the year, a slower pace compared to about $100 billion over the same span in 2019, according to data compiled by Bloomberg.There has never been “a time more imperative than now” for the company to focus on advancing its organization in the areas of sustainability, social impact and governance amid the coronavirus and unrest in the country, chief executive officer Conor Flynn said in a statement Monday. The company said it’s aligning its ESG disclosure with guidelines established by the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures to boost transparency for the first time.At the end of last year, the Jericho, New York-based company owned interests in 409 U.S. shopping centers and mixed-use assets with 72.4 million square feet of gross leasable space. Its holdings are primarily concentrated in major metropolitan markets, according to its 2019 Corporate Responsibility Report.Wells Fargo & Co., Deutsche Bank AG, Jefferies Group LLC and U.S. Bancorp managed the sale, the person said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  Essential Properties Realty Trust, Inc. Announces New Chief Financial Officer

  Business Wire
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  Kimco Realty Releases 2019 Corporate Responsibility Report

  Business Wire

Energy Transfer Clarifying Statement on Dakota Access Pipeline

Energy Transfer Clarifying Statement on Dakota Access Pipeline