Jill On Money: Pandemic underscores inequality

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Analysts and investors like to use letters to describe the condition of the U.S. economy and markets. V-Shaped, which is a sudden drop followed by a surge; W, the ultimate fake out, where output sinks,

Jill Schlesinger 

rises and then falls again; U, where after a sudden shock, the economy meanders and then starts to rise; and then the dreaded L, a drop, followed by a sluggish, sideways economy that never returns to its previous glory days. (One more that is fun for math geeks is the square root, where output drops, rises and then levels off.)

Here’s one more letter to consider when thinking about the financial and economic impact of the coronavirus: K. The sudden stop in the economy impacted the entire country, as jobs vanished and the stock market crumbled. Fortunes soon diverged: white collar workers who could stay at home and continue to earn money were

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Trump vs. Biden: Who’s Winning the Money Race in Your ZIP Code?

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Estimated donors by ZIP code,
April through June


Trump

1.2 millionestimated donors

Biden

1.6 millionestimated donors



MORE TRUMP DONORS MORE BIDEN DONORS

Source: Federal Election Commission | Notes: The map shows which candidate had more individual donors in each ZIP code from April 1, 2020, to June 30, 2020. ZIP codes with fewer than 10 total donors are excluded.

Former Vice President Joseph R. Biden Jr. had roughly 400,000 more individual donors than President Trump in the last three months, the latest evidence of Mr. Biden’s newfound financial strength, according to a New York Times analysis of Federal Election Commission data.

The estimated donor numbers offer another sign of the nation’s political divisions. From April through June, Mr. Biden had more donors than Mr. Trump in 26 states, including key battlegrounds like Pennsylvania and North Carolina. Mr. Trump led in 24, including critical states like Florida

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ANALYSIS-SMIC’s Shanghai listing tests if money alone can bring chip dominance to China

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By Josh Horwitz

SHANGHAI, July 15 (Reuters)China’s biggest chipmaker SMIC is set to follow its staggering $6.6 billion share sale with its Shanghai market debut on Thursday, just as Sino-U.S. tension widens the chasm it wants to cross to reach global leader TSMC, industry insiders said.

Semiconductor Manufacturing International Corp (SMIC) 0981.HK has found itself in the slipstream of a government drive to develop an independent chip industry. Its Hong Kong stock price has surged three-fold since March as investors bought into sentiment accompanying its listing plans.

Its second-biggest shareholder, the state-backed China Integrated Circuit Industry Investor Fund, signed up as the largest strategic investor of the offering which, by Monday close, had attracted 566 times as much money from retail investors as shares available.

However, SMIC’s global aspirations fall under the shadow of tense Sino-U.S. relations, punctuated by tech import tariffs and coloured by a U.S.

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Yes, there are ways to get more money from your job, even now

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If you need extra money, you may have considered some extreme measures, such as racking up credit card debt or tapping into your retirement account.



a woman sitting at a table using a laptop


© Provided by CNBC


Yet have you thought about how you can access cash through your job?

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There are ways to cut costs and bring in more money that may be right under your nose. It may be in the form of employer benefits, money saved by telecommuting or even asking for more pay — yes, even in this environment.

More from Invest in You:

Suze Orman: A perfect financial storm is brewing and it is worse than 2008

Take these steps now that the $600 unemployment boost is ending

How to decide if tapping into your retirement savings is the right move for you

“Employers are definitely hesitant to give raises or promotions now,” said Olivia Jaras, founder of Salary Coaching for

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Money Reimagined: China’s ‘Cold War’ Blockchain Strategy

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Which one is the centrally managed police state? Which one is the pro-innovation jurisdiction embracing open-source technologies and decentralized governance networks?

OK. I’m being a tad facetious. The reality is Chinese President Xi Jinping has severely concentrated power. In general, his government, with its Hong Kong crackdown and Uighur detention camps, has encroached upon people’s freedoms more than at any time since Mao Zedong’s rule. Also, the default assumption should be that China’s blockchain vision favors cryptographic backdoors, centralized master keys and transaction monitoring systems more than it does the permissionless, censorship-resistant ideals of those six blockchains – Ethereum, Tezos, NEO, Nervos, EOS and IRISnet. 

You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.

Nonetheless, the contrast between

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These money and investing tips can help protect your portfolio from market shocks

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Don’t miss these top money and investing features:

These money and investing stories, popular with MarketWatch readers over the past week, offer tips on managing your portfolio smartly and effectively. Read about the Trump administration’s effort to eliminate socially responsible index funds from 401(k) and other retirement plans, how socially responsible funds can boost investment returns, why the 60/40 portfolio allocation still makes sense, and how the coronavirus is affecting Americans’ Social Security and retirement expectations.

INVESTING NEWS & TRENDS
The cyclical rotation is here, Jefferies analysts say. For real this time.

The market story of the second half of 2020 will be beaten-down cyclicals outperforming high-flying growth stocks, Jefferies equity analysts say.
The cyclical rotation is here, Jefferies analysts say. For real this time.

Workers should be able to invest their 401(k)s in companies that won’t harm the climate

A proposed rule could mean that the company that manages

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Coronavirus: Money questions to ask your partner in a crisis

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Aaron Clarke is a certified financial planner and wealth advisor at Halpern Financial.

Money can often be a complicated topic with your partner in normal times, but the pandemic has only increased that financial stress for many couples. Even in the best of times, if there is a misalignment of what each person finds important and the couple can’t talk about these differences, it is bound to be a pain point.

Here are a few helpful ways to navigate challenging financial times with your spouse or partner — and maybe even improve your long-term financial picture at the same time.

A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)
A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)

Even beyond the traditional “are you a saver or a

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Five Realistic Things to Do Right Now to Make Your Money Work for You

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Welcome to #Adulting, the ultimate breakdown of all your grown-up needs. These articles are here to help you feel less alone and answer all your personal, financial, and career questions that weren’t answered in school (no judgement, we get it!). Whether you’re looking to find out how to tackle laundry or you want a deep breakdown on how to make a savings plan—we’ve got you covered. Come back every month to find out what life skills we’re upgrading next and how.

Gather all the personal financial advice you used to receive before the pandemic: The platitudes about not buying lattes or avocado toast. The “challenges” to put aside $1 a week. The admonishments that you should try to buy a home instead of renting one. Stack that advice into a pile, and set it on fire.

Even though none of that is unreasonable advice, it’s certainly not relevant guidance for

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20 Genius Things Mark Cuban Says To Do With Your Money

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You might have heard this billionaire’s name, but who is Mark Cuban and how did he make his money? It’s possible you know him as one of the sharks on the hit show “Shark Tank,” but Cuban is more than just a TV personality — he’s also the owner of the Dallas Mavericks and a successful investor. In fact, Mark Cuban’s companies are so successful that he made his first million in 1990 after selling his business to CompuServe and then earned a $5.9 billion paycheck after he sold his online streaming audio service to Yahoo in 1999.

Cuban knows how to be rich and successful, and he isn’t afraid to share his insight. Check out Mark Cuban’s advice, so you can learn how to budget money and think like a billionaire.

Last updated: July 15, 2020

1. Be a Little Bit of a Risk Taker

Talk to any self-made

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The woman who wants to make kids better with money

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The BBC’s weekly The Boss series profiles different business leaders from around the world. This week we speak to Louise Hill, founder of GoHenry, a banking business that provides debit cards for children.

Standing on the touchline as her son played football, Louise Hill started moaning about how her kids’ spending habits were spiralling out of control.

At the time her son was eight and her daughter was 11. Louise was so frustrated by how much they were buying online that she would pin Apple invoices to the fridge door to help her kids understand why their £4 a week pocket money was now just 50p.

The two other parents she was chatting to back in 2009 had similar stories, so the conversation really struck a chord. And inspired the beginning of a business.

“One of the dads started talking about how his son had bought something on eBay, the

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