10 investing apps to supercharge your portfolio

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr With a few taps, these apps turn your mobile device into a portable portfolio or investment tracker.by: Lou CariozoBefore Apple launched the App Store in 2008, investing via smartphone pretty much meant calling your broker or financial advisor. Remarkably, it now only takes a tap or two to locate valuable investment information or move your money from one asset to another. What’s more, you can do it in seconds, without anyone’s help, let alone a busy signal or hold time.“Investing is an inherently fast-paced, on-the-go industry, rendering it an especially good fit for mobile technology,” says Raul Moreno, co-founder and CEO of iBillionaire, an app and website that provides access to investment data and strategies of self-made billionaires.In fact, it’s gotten to the point where you can track information and choose investments with all of the ease of putting Rover on a leash. “Observing, managing and reviewing investments is now, for the first time ever, being done while in line for coffee, in a cab or walking a dog,” says Hart Lambur, co-founder of Openfolio, which applies a social media-type logic to its financial app.That’s not to say investment apps are without issues. Critics insist some apps make it too easy to trade on impulse, especially when investors need less portfolio turnover, not more. But apps have their advantages, including lower fees and the capacity to keep investors constantly informed. continue reading »last_img read more

A hunt for any storage space turns urgent as oil glut grows

first_imgTopics : A topsy-turvy market that has oil prices for October delivery at $31 a barrel has oil firms anxious to sock away millions of barrels now to sell at a profit later.Tank farms are full In Cushing, Oklahoma, home to dozens of large tank farms with combined space for about 76 million barrels, operators are fully booked, said traders. Storage there jumped by 5.7 million barrels the week before last, according to the latest US Energy Information Administration (EIA).While the government estimated there is available space, traders said Monday’s market drop indicated any unfilled tanks are under lease, and not available to new renters. The telephone lines have been ringing at Adler Tank Rentals in Texas as oil companies found a new use for steel tanks that had been left idle when shale producers stopped drilling – they want to use the tanks to store some of an oil glut that has overwhelmed the market and flipped US crude prices negative for the first time.Hundreds of millions of barrels of crude have gushed into storage worldwide in the past two months as the coronavirus-related lockdowns wiped out around a third of global oil demand.With oil depots that normally store crude oil onshore filling to the brim and supertankers mostly taken, energy companies are desperate for more space. The alternative is to pay buyers to take their US crude after futures plummeted to a negative $37 a barrel on Monday.center_img “The industry is really scrambling to source viable storage options,” said Stuart Porter, a manager at Adler Tank Rentals in Texas, which has shale companies lining up to potentially lease dozens of its 500-barrel steel frac tanks. The tanks can be lined up like dominos and filled at the well site by producers without a home for their oil.Converge Midstream LLC with millions of barrels of storage available in underground salt caverns outside Houston has gone from few takers to requiring one- to two-year contracts.”Quite honestly we were struggling for business. Now that the market has changed, everyone is our friend,” said Dana Grams, chief executive of Converge Midstream.The hunt for storage points to the magnitude of the collapse in demand for US shale and the huge volume of unsold oil to refiners who are cutting purchases.Last month, the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia threw in the towel on four years of self-imposed output curbs that gave US shale a price umbrella. The result was a drop in US oil prices to about $20 a barrel as Saudi Arabia and Russia pledged to pump full bore.For a time, it looked like prices would stabilize after the pair and other nations this month agreed to deepen cuts. But crude stocks in the United States rose by 19 million barrels overall the week before last, the EIA said, the biggest one-week increase in history, setting the stage for Monday’s historic decline.Floating storage In addition to the onshore glut, there are about 160 million barrels of oil sitting on tankers waiting for buyers. And at least six crude tankers carrying 2 million barrels apiece are en route to the United States from Saudi Arabia, adding to the alarm at the US Gulf Coast.It is not just crude looking for a place to go. State lockdowns have decimated demand for motor fuel. US gasoline demand fell 32% earlier this month compared with the same time a year ago, the EIA said.That glut is creating opportunities for some.At Caliche Development Partners, which stores natural gas liquids in underground caverns near Houston, CEO Dave Marchese may shift his plans and open a newly completed 3-million-barrel underground salt-cavern for crude oil or gasoline.”Gasoline has a pretty large contango right now,” he said, referring to prices five or more months ahead that are higher than current levels. But both fuels would require new pumps in its salt cavern, Marchese said, and he wants buyers to pay up for any upgrades.Shale producer Teal Natural Resources had one of its three crude buyers cancel a purchase agreement last month, sending it shopping for frac tanks. They are not cheap, Teal CEO John Roby learned after scouring the market.Storing a month’s worth of output would cost Teal about $20 a day per tank, or about $300,000 a month. At those rates, Teal would rather shut in wells, he said.Shutting off wells is not for everyone, though, because it can reduce future oil recovery, and may put a producer in breach of their lease contracts.Rentals for frac tanks have jumped from about $15 a day previously, a Texas oil marketer said.Another oil producer, Texland Petroleum aims to sell immediately whatever crude it can this month, said President Jim Wilkes. He is considering adding frac tanks to avoid having to pay to have his oil carried away in May.Joshua Wade, an oil marketer in Oklahoma, is in talks to reserve about 100,000 barrels of storage for May using a combination of frac tanks, on-system pipeline storage and smaller tanks that have been dormant on pipelines.But time is running out and costs are rising quickly.”A lot of people have been calling me now and saying ‘I wanna go out and buy 100,000 barrels in May and put them in a frac tank,'” said Wade. “I tell them the party started about a month ago and it’s now almost over.”last_img read more

CMPort Completes Acquisition of Brazil’s Container Terminal

first_imgHong Kong’s China Merchants Port Holdings Company (CMPort) has completed the acquisition of Paranaguá Container Terminal (TCP), the second-largest container terminal in Brazil.Under the terms of the share and purchase agreement inked in September 2017, CMPort has bought a 90% stake in TCP for HKD 7.23 billion (around USD 924 million).The acquisition is said to be the biggest merger and acquisition so far in Brazilian and Latin American port sector.The investment, part of the efforts to implement the “Belt and Road” initiative in the region, is CMPort’s first in Latin America. In addition, the investment represents the first M&A in mature port assets overseas with controlling stake, according to the company.Representatives of CMPort and TCP signed the letter of intent to close the transaction on February 22.“Today’s ceremony definitely represents the perfect opening of Sino-Brazil economic and trade cooperation in 2018… We believe under the support and coordination between China and Brazil, TCP will have a brighter future,” Li Jinzhang, Chinese Ambassador to Brazil, commented on the occasion.“With TCP as the starting point, CMG will continuously promote the commercial and trade cooperation between the BRICS countries, especially in the fields such as Brazil’s integrated logistics, transportation related infrastructure and logistic parks, in order to look for more opportunities on investment, development and operation,” Hu Jianhua, Vice Chairman of CMPort and the Executive Vice President of China Merchants Group Limited, said.Located on the southeast coast of Paraná State of Brazil, TCP has an existing design capacity of 1.5 million TEUs. The terminal, with three container berths, is expected to increase its capacity to 2.4 million TEUs by the end of 2019.last_img read more

Man who shot at police, then shot himself dies

first_imgJordan De Sayles, 35, who shot at Fort Pierce police officers during a traffic stop before shooting himself has died, police said.The incident took place on Sunday morning around 3 am in the 500 block of Orange Avenue. Police pulled over De Sayles and once he got out of the car, he fired shots at the officers.Police shot back, and De Sayles attempted to take cover inside a nearby building.Officers tried to get De Sayles to surrender but instead he shot himself. He was taken to local hospital and was in critical condition.Fort Pierce police spokeswoman April Lee announced that he has died of a self-inflicted wound on Thursday, and all officers involved were placed on administrative leave.last_img

Driver arrested for attempted murder after shooting into another vehicle

first_imgAuthorities in Sebastian, Florida have arrested a 19-year-old man who reportedly attempted to kill another man while driving on County Road 512.The incident occurred on Sunday near the 700 block of County Road 512.According to the report, the victim was traveling in the left lane when a black sedan driven by Jordan Lee Jackson, pulled up on the side of his vehicle. Jackson then fired two shots at the victim’s vehicle, striking it twice.Jackson then got in front of the victim’s vehicle and slammed on the brakes, causing the victim’s vehicle to slam into the back of his. Jackson then rolled down the driver’s side window again and the victim believing that Jackson was going to shoot at him again struck Jackson’s vehicle with his vehicle.Both vehicles then crashed into the median and into the westbound lanes of CR 512.Both drivers then drove away before the police were called.Authorities were later able to identify Jackson and quickly moved to make the arrest.Jackson has been charged with one count of attempted first-degree murder, one count of shooting a deadly missile into a vehicle and one count of aggravated assault with a deadly weapon.last_img read more