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Mets fans will be pleased to learn that Steve Cohen hit it out of the park last year. The billionaire investor’s hedge fund Point72 Asset Management returned double digit gains of around 17 percent in 2020, according to an investor. Cohen’s personal take on that haul is expected to be in the range of $1.6 billion — or roughly two-thirds the $2.4 billion the 64-year-old paid for the Queens team in August after an earlier $2.6 billion deal fell apart in February. The pay raise couldn’t come at a better time. Cohen– who ended 2020 with a net worth pegged at $14 billion, according to Forbes — has vowed to spend big on the Mets. And fans are expected to try to keep him to that promise, especially if he continues to rebel against his reputation as a button-up money man by engaging with them on Twitter. Point72 is Cohen’s second major fund. His SAC Capital Advisors shuttered in 2016 after the firm pleaded guilty to insider trading charges. Cohen was banned from managing outside money for two years. Point72 has since grown to $10 billion under management — a number that’s not likely to increase since Cohen closed the
After nearly nine months and seemingly endless negotiations in Washington, millions of Americans could soon get a second stimulus check. Congressional leaders unveiled a roughly $900 billion stimulus deal on Sunday that calls for another round of direct payments to help Americans get through the coronavirus pandemic. The $600 checks are half as large as the $1,200 payments lawmakers approved under the CARES Act in late March, but they could give many people a short-term financial lifeline within weeks. Congress has not yet released the text of the stimulus bill or other key details about the new payments. But here’s what is known about the second round of checks and what the rollout could look like based on how the first ones were distributed. Who is eligible for another stimulus check? Similar to the CARES Act, the latest stimulus deal will distribute $600 payments to individual taxpayers earning up to $75,000 a year or married couples with annual incomes up to $150,000. People with incomes above those limits will receive smaller amounts. It’s not certain how the payments will be phased out under the latest bill, but the CARES Act reduced high earners’ checks by 5 percent of the amount
In an announcement on Tuesday, Hut Group (LON: THG) said it will buy Dermstore for £259 million in cash – a move that’ll help its beauty brands secure a broader share in the U.S market. Dermstore is a California-based online retailer for skincare and beauty products that is currently a subsidiary of Target Corp. The Hut Group shares are currently trading at £7.38 that represents a little under 20% growth since its initial public offering in September. The stock had plummeted to as low as £5.84 per share in mid-October. At the time of writing, the British e-commerce company headquartered at Manchester Airport has a market cap of £7.01 billion. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. THG acquires David Berryman and Claremont Ingredients The Hut Group already has a range of prominent retail brands on its portfolio, including ESPA and Lookfantastic. In a bid to expand its footprint in the drinks business, the e-commerce company also said on Tuesday that it was investing another £59.5 million to acquire David Berryman and Claremont Ingredients. The news comes only months after THG acquired luxury skincare brand, Perricone MD, for £44.43 million in cash.