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History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs | Markets – Business Insider

History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs

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  • Joe Biden’s planned capital-gains tax may put immediate selling pressure on stocks, according to Goldman Sachs.
  • In a Friday note the firm explained that the last capital-gains tax hike in 2013 sparked a stock sell-off worth roughly $100 billion from wealthy individuals.
  • However, those individuals who sold quickly bought back stocks only a few months later, leading Goldman to conclude that the household selling around tax hikes will be “short-liv…

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Can Gap Escape the Whirlwind? New CEO Confronts Years of Decline – The Wall Street Journal

Sonia Syngal is plotting a future of fewer stores and more fashion risks to revive the company’s namesake brand

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In late March, Gap Inc., the perennially struggling retailer, temporarily closed all its North American stores in response to the Covid-19 lockdown and lost 70% of its revenue overnight.
Four days later, Sonia Syngal took over as CEO.
The pandemic has washed out many companies that were already on shaky ground, especially in retailing. J.Crew…

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Stocks making the biggest moves midday: Hasbro, Dunkin’ Brands, AstraZeneca, Delta & more – CNBC

Hasbro shares fell after the company reported mixed results for the previous quarter. Dunkin’ Brands jumps on news it may go private.

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Check out the companies making headlines midday Monday:
Dunkin’ Brands Shares of the restaurant chain spiked more than 15% after the company said it held preliminary talks regarding its potential acquisition by Inspire Brands, although the company said there’s “no certainty that any agreement will be reached.” The New York Times reported that the deal could value the restaurant chain at nearly $9 billion.
SAP SAP plunged more than 23% for its worst trading day in at least 12 years after Europe’s…

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Tesla ships out first 7,000 made-in-China Model 3 cars to Europe – Electrek

Tesla is currently shipping out the first 7,000 made-in-China Model 3 cars to Europe — the first Tesla vehicles exported from China. As we previously reported,…

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Tesla is currently shipping out the first 7,000 made-in-China Model 3 cars to Europe the first Tesla vehicles exported from China.
As we previously reported, when Tesla first announced plans to build vehicles in China, it said that it would be to supply domestic demand in the country.
Last month, reports coming out of China indicated that Tesla changed its mind and was now planning to start exporting made-in-China Model 3 vehicles to other markets.
This was confirmed earlier this month when Tesla…

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