IG Group Agrees to Buy Online Broker Tastytrade for $1 Billion

Rachel Maddow Explains Why Donald Trump May Yet Resign

There may only be days left of Donald Trump’s presidency.

But MSNBC’s Rachel Maddow still thinks there’s a chance that Trump ― who now faces being impeached for a second time for inciting last week’s Capitol riot — may resign before the inauguration of President-elect Joe Biden.

But Trump wouldn’t leave the White House for the good of the country, Maddow said on her prime time show Monday. Instead, the anchor suggested it would be a last-ditch effort by Trump to save himself from criminal prosecution.

“I can hear you, I can see you giving me the hand on this. ‘Oh, please, Maddow, as if? This guy feels no shame. He would never resign. Something for the good of the country, he’s incapable.’ I know. I hear you,” she acknowledged.

Maddow noted that the article of impeachment being brought against Trump by Democrats — incitement to insurrection — is also a criminal charge that carries a potential 10-year prison sentence and a lifetime ban from holding office.

Trump has floated the idea of pardoning himself before leaving the White House, but has reportedly been cautioned against doing so by former Attorney General Bill Barr and White House counsel Pat Cipollone.

But if Trump “were to resign from office now, in exchange for (Vice President) Mike Pence pardoning him, well, that would work,” speculated Maddow. 

Check out the video above.


Sanofi To Acquire Kymab Adding KY1005 To Its Pipeline – Quick Facts

Sanofi (SNYNF,SNY) has agreed to acquire Kymab for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones. The acquisition will add KY1005 to the company’s pipeline, a human monoclonal antibody targeting key immune system regulator OX40L. Sanofi expects to complete the acquisition in the first half of 2021.

Kymab is a clinical-stage biopharmaceutical company developing fully human monoclonal antibody therapeutics with a focus on immune mediated diseases and immuno-oncology using its integrated platforms collectively called IntelliSelect.

Stock Alert: Pine Island Acquisition Rises To New 52-week High

Shares of Pine Island Acquisition Corp. (PIPP), a special purpose acquisition company, are climbing more than 14 percent or $1.83 in Thursday’s morning trade at $14.30, after hitting a new 52-week high of $14.93 despite no company-centric news.

U.S. stocks are higher on Thursday amid optimism about additional fiscal stimulus as President-elect Joe Biden is expected to unveil a major relief package later today. A report from CNN citing two people briefed on the deliberations said the price tag for the package is expected to be in the ballpark of $2 trillion.

Pine Island Acquisition has traded in a range of $9.95 to $14.93 in the past 52 weeks.

U.S. Wholesale Inventories Virtually Unchanged In November

With an increase in inventories of durable goods offset by a slump in orders for non-durable goods, the Commerce Department released a report on Friday showing U.S. wholesale inventories came in unchanged in the month of November.

The Commerce Department said wholesale inventories were virtually unchanged in November after jumping by 1.3 percent in October. Economists had expected inventories to edge down by 0.1 percent.

Wholesale inventories came in unchanged as inventories of durable goods climbed by 0.9 percent, while inventories of non-durable goods tumbled by 1.2 percent.

Meanwhile, the report said wholesale sales rose by 0.2 percent in November following a 1.7 percent spike in the previous month.

Sales of non-durable goods increased by 0.7 percent, more than offsetting a 0.4 percent drop in sales of durable goods.

Even with the uptick in sales, the inventories/sales ratio for merchant wholesalers in November was unchanged from October at 1.31.

U.K. on Course to Meet Coronavirus Vaccine Target, Hancock Says

Sign up here for our daily coronavirus newsletter on what you need to know, andsubscribe to our Covid-19 podcast for the latest news and analysis.

Health Secretary Matt Hancock said the U.K. is on course to meet its coronavirus target, but warned the surge in cases has left the state-run National Health Service in a “very, very serious situation.”

In an interview with Sky News, Hancock said more than 200,000 people are being vaccinated every day, including one-third of the over-80s regarded as the most vulnerable group to the disease. He said mass vaccination centers are opening to accelerate the rollout.

Prime Minister Boris Johnson has set a target of delivering about 15 million shots by mid-February as his government races to get ahead of a new variant of the virus that has triggered a surge in cases in recent weeks. The U.K. reported an additional 59,937 cases on Saturday, taking the total above 3 million. It has the worse death toll in western Europe at more than 80,000.

Trade deal back on? Boris holds call with Biden to resolve issues ‘as soon as possible’

We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

More to follow…

IG Group Agrees to Buy Online Broker Tastytrade for $1 Billion

IG Group Holdings Plc agreed to buy American online brokerage platform Tastytrade Inc. for $1 billion, expanding the trading firm’s operations in the world’s largest derivative market.

The deal comprises $300 million in cash and the issuance of 61 million IG Group shares to Tastytrade’s shareholders, according to astatement Thursday. The combination would add Tastytrade’s more than 105,000 active accounts to IG’s platform, whose core markets include the U.K., European Union, Australia and Singapore. IG shares rose as much as 1.7% at the open.

“This acquisition will materially expand and scale our business in the U.S. and see us further diversify into the exciting high growth market of U.S. retail options and futures,” June Felix, chief executive officer of IG Group said in the statement. “The U.S. market has more than 1.5 million retail traders and is the largest derivatives market in the world.”

Online brokerage platforms have enjoyed a surge in volume in the past year as market volatility and work-from-home mandates draw more retail customers into the market. The acquisition is expected to complete in the summer of 2021. Jefferies advised IG Group on the transaction.