New York City Faces Severe Financial Crisis Amid COVID-19 Pandemic

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Neuberger Berman’s Dyal Capital Partners bought a minority stake in Veritas Capital, a private equity firm with more than $20 billion of assets under management, according to people with knowledge of the matter.

Veritas, run by Ramzi Musallam, invests in companies that are related to government services. That includes aerospace, defense, energy, national security and health care, according to its website. Dyal’s stake is about 10%, one of the people said.

Dyal is extending a deal streak after raising its fourth and largest fund last year, at $9 billion. Its fifth fund is expected to be around the same size, said the people, who asked not to be identified discussing private investments. The new fund is nearing its first close at the end of October, one of the people said. The Neuberger unit competes with Blackstone Group Inc. and Goldman Sachs Group Inc. in the business of taking stakes in asset managers.

Dyal has more than $20 billion under management and stakes in firms including Silver Lake, Vista Equity Partners and Starwood Capital Group.

Veritas raised its first institutional fund in 1998 and has made more than 100 acquisitions. Its assets have grown from about $2 billion at the end of 2012. The firm recently informed investors about the “passive” Dyal minority investment, the people said.

Prior to joining Veritas as a founding member, Musallam worked at a private equity group led by Jay Pritzker and Boston-based private equity firm Berkshire Partners. He started his career at JPMorgan Chase & Co.

Neuberger and Veritas representatives declined to comment.

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(RTTNews) – The Malaysia stock market has finished lower in back-to-back trading days, sinking almost 25 points or 1.6 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,490-point plateau although it may find traction on Thursday.

The global forecast for the Asian markets suggests a higher open on renewed stimulus hopes, although some of the overbought bourses may see profit taking as the day progresses. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets figure to split the difference.

The KLCI finished sharply lower on Wednesday following losses from the financials, plantations and rubber glove makers.

For the day, the index dropped 19.91 points or 1.32 percent to finish at the daily low of 1,489.56 after peaking at 1,510.35. Volume was 5.249 billion shares worth 3.608 billion ringgit. There were 636 gainers and 373 decliners.

Among the actives, Petronas Chemicals plummeted 5.00 percent, while Malaysia Airports Holdings plunged 4.14 percent, MISC tanked 2.95 percent, Tenaga Nasional tumbled 2.85 percent, IOI Corporation skidded 2.73 percent, Axiata retreated 2.70 percent, Sime Darby Plantations and IHH Healthcare both declined 2.59 percent, Sime Darby jumped 2.58 percent, Top Glove rallied 1.85 percent, AMMB Holdings surrendered 1.68 percent, Public Bank sank 1.64 percent, PPB Group dropped 1.60 percent, RHB Capital shed 1.54 percent, Maybank lost 1.25 percent, Genting fell 0.94 percent, Dialog Group slid 0.79 percent, Hartalega Holdings dipped 0.71 percent, CIMB Group slipped 0.66 percent, Kuala Lumpur Kepong weakened 0.62 percent, Genting Malaysia was down 0.49 percent, Maxis eased 0.20 percent and Digi.com was unchanged.

The lead from Wall Street is broadly positive as stocks opened higher on Monday and stayed that way throughout the session, offsetting losses from the previous day.

The Dow spiked 530.70 points or 1.91 percent to

It’s been a long, long time since Hoyer won a game as starting QB originally appeared on NBC Sports Boston

Though the Patriots haven’t confirmed it yet, all signs are pointing to Brian Hoyer starting under center Monday night when New England faces the Chiefs.

If Hoyer earns the start, he’ll be looking to do something he hasn’t done in four years and three days, or a span of 1,465 days: win a football game as starting quarterback.

Since Hoyer’s last victory — a 17-14 Bears win over the Lions on October 2, 2016 — Hoyer has lost 10 straight games as a starter, while predominantly serving as a backup over that stretch.

That losing skid involves three starts with the Bears in 2016, six starts with the 49ers in 2017, and one start with the Colts a season ago. Overall, Hoyer has completed 58.8 percent of his passes during the streak, averaging almost 220 yards per game while throwing seven touchdowns and seven interceptions, good for a QB rating of 75.8.

Perry: Why are Pats going with Hoyer over Stidham?

But while Hoyer hasn’t walked off the field as a starter with a win in over four years, he has managed to keep most of those games close. Eight of those losses came by a total of 24 points, with six coming by a field goal or less. Only two of the losses were double-digit defeats.

Considering the Patriots are 11-point underdogs for the contest — their largest point spread as underdogs since Super Bowl XXXVI against the Rams — oddsmakers aren’t expecting Hoyer and the Pats to keep it that close this time around against the defending champs.

But who knows? Maybe the 34-year-old journeyman can author a shocker.

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(Adds strategist quotes and details throughout; updates prices)

* Canadian dollar advances 0.5% against greenback

* Canadian GDP increases 3% in July

* Loonie declines 2.1% in September

* Canadian government bond yields rise across steeper curve

By Fergal Smith

TORONTO, Sept 30 (Reuters) – The Canadian dollar
strengthened to a one-week high against the greenback on
Wednesday as hopes of additional U.S. stimulus rose and data
showed the domestic economy extending its recovery, with the
loonie clawing back some of this month’s decline.

The loonie was trading 0.5% higher at 1.3323 to the
greenback, or 75.06 U.S. cents. The currency touched its
strongest intraday level since last Wednesday at 1.3301.

Still, the loonie posted a monthly decline for the first
time since March as rising Canadian coronavirus cases weighed on
investor sentiment. It ended September 2.1% lower.

The big driver for investors was news “that there’s some
progress on the U.S. stimulus bill,” said Amo Sahota, director
at Klarity FX in San Francisco. “Any motion in that direction is
lifting market sentiment up, and that’s beneficial for the
loonie.”

Canada sends about 75% of its exports to the United States,
including oil. U.S. crude futures settled 2.4% higher at
$40.22 a barrel, while shares on Wall Street rose.

U.S. House of Representatives Speaker Nancy Pelosi and U.S.
Treasury Secretary Steven Mnuchin expressed hope for a
breakthrough in partisan stimulus negotiations in Congress.

The Canadian economy expanded by 3% in July from June as
businesses across the country continued to reopen from
coronavirus-related shutdowns, with growth expected to grow at a
pace of 1% in August.

Canada’s economy could suffer a smaller hit from a second
wave of the coronavirus pandemic than earlier this year, as
provinces strive to avoid broad-based lockdowns and take
targeted measures to deal with outbreaks,

U.S. stocks finished lower Tuesday, after moving between small losses and gains throughout the session, ahead of the first presidential debate before the November election.

How did stock indexes perform?

The Dow Jones Industrial Average
DJIA,
-0.47%

fell 131.40 points, or 0.5%, to end at 27,452.66; while the S&P 500 index
SPX,
-0.48%

closed 16.13 points, or 0.5%, lower at 3,335.47, and Nasdaq Composite Index
COMP,
-0.29%

slipped
NQ00,
+0.66%

32.28 points, or 0.3%, finishing at 11,085.25. All three major equity indexes snapped three sessions of gains.

On Monday, the S&P 500 rose 53.14 points, or 1.6%, to end at 3,351.60. The Nasdaq climbed 203.96 points, or 1.9%, to close at 11,117.53. The Dow advanced 410.10 points, or 1.5%, finishing at 27,584.06, while booking its third session of gains in a row.

What drove the market?

After a positive start to kick off the final week of trading in September, major equity-indexes fell, with the global tally of COVID-19 deaths surpassing a milestone of one million.

Read: Coronavirus tally: Global deaths of COVID-19 top 1 million, 33.4 million cases and U.S. counts more than 250,000 deaths

The handling of the pandemic and plans for the U.S.’s economic recovery are topics on the roster for the presidential debate between Republican President Donald Trump and Democratic challenger, former Vice President Joe Biden in Cleveland Tuesday evening. The U.S. has the highest case tally at 7.1 million, and highest death toll at 205,085 of any country.

Investors will be looking for further guidance on new policy measures from Trump and more signs that Biden is prepared to take the reins as commander-in-chief, should he prevail in the November contest.

Overall, the debate which starts at 9 p.m. ET could help to set the tone for markets for the next 35 days until the