Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead
0 balance transfer 24 months
Baseball’s Most Valuable Teams 2023: Price Tags Are Up 12% Despite Regional TV Woes
Last season’s record revenue for Major League Baseball translates into all-time-high valuations for its teams. By Mike Ozanian and Justin Teitelbaum T he eroding economics of regional sports networks made little difference: Major League Baseball teams are still hot assets. Before Arte Moreno pulled the plug on selling his Los Angeles Angels in January, he would have gotten at least $2.7 billion, or $280 million more than the MLB record $2.42 billion that Steve Cohen paid for the New York Mets in 2020, according to people familiar with the sale process. The average MLB team value is up 12% this year, to $2.32 billion. During the 2022 season, revenue (net of stadium debt service) increased 7.8%, to an all-time high of $10.3 billion. The top-line gain was driven by a 64% increase in ticket revenue (including postseason and spring training), to $2.4 billion (the 2021 season started with nearly all ballparks under capacity restrictions) and a 35% increase in … [Read more...] about Baseball’s Most Valuable Teams 2023: Price Tags Are Up 12% Despite Regional TV Woes
U.S. Bancorp Stock Is Undervalued
Share to Twitter Share to Linkedin U.S. Bancorp’s stock (NYSE: USB) has lost approximately 14% YTD as compared to the 4% rise in the S&P500 index over the same period. Further, the recent volatility in the stock price (down 20% over the last ten days) was due to the turmoil in the banking sector. Notably, the collapse of the Silicon Valley Bank, Signature Bank, and the Credit Suisse crisis has made investors cautious about banking stocks. Overall, USB is trading at the current price of $38 per share, which is 32% below its fair value of $55 – Trefis’ estimate for U.S. Bancorp’s valuation . The bank posted mixed results in the fourth quarter of 2022, with earnings beating the estimates but revenues missing the mark. It reported total revenues of $6.4 billion – up 12% y-o-y, primarily driven by a 37% jump in the net interest income, partially offset by a 19% decline in the non-interest revenues. While the NII benefited from the improvement in … [Read more...] about U.S. Bancorp Stock Is Undervalued
TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress
Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress
Should You Buy FedEx Stock After Q3 Earnings Beat?
Share to Twitter Share to Linkedin FedEx stock (NYSE: FDX) is up 13% in a week, compared to a 3% rise for the broader S&P500 index. After its recent surge, FDX stock looks appropriately priced, in our view. Due to a decline in delivery volumes, FedEx FDX and other logistics companies have had a tough year. The big e-commerce surge seen through the lockdown phase of the Covid-19 pandemic has now cooled off. Furthermore, the weakening U.S. economy and high inflation further add to the woes. Our analysis of FedEx’s Revenue details how the company’s revenues are trending. Last week, the company reported its Q3 fiscal 2023 results (the fiscal year ends in May), with revenue of $22.2 billion, down 6% y-o-y, and falling below our estimate of $22.8 billion, primarily due to softening volume. Average daily package volume was down 11% during the quarter. However, yields continued to improve, with composite package yield rising by 3%. The company’s … [Read more...] about Should You Buy FedEx Stock After Q3 Earnings Beat?
Beachgoers find giant sea turtle carcass in Pattaya
Beachgoers find giant sea turtle carcass, photo by Pattaya Mail. While there’s been a lot of happy news about turtles in Phang Nga recently, there’s unfortunately been some sad turtle news in Pattaya . A giant sea turtle carcass washed up on Pattaya Beach on Tuesday. Beachgoers noticed the carcass and detected a foul odour in the early hours of the morning. They promptly informed the authorities of the discovery. Officials from the Marine and Coastal Resources Research Center estimated that the turtle had been dead for several days before it washed ashore. The turtle measured between 80 to 90 centimetres wide, and 100 to 120 centimetres long. It weighed approximately 60 kilogrammes, and was estimated to be between 40 to 50 years old, Pattaya Mail reported. The only sign of injury was a damaged back leg. To determine the cause of death, the turtle was recovered and taken for an autopsy. Related news Bangkok Airways to launch Koh Samui – Hong Kong … [Read more...] about Beachgoers find giant sea turtle carcass in Pattaya
Emerging market investors turn increasingly bullish for Q2, HSBC survey shows
LONDON – Nearly half of emerging market investors are bullish on prospects for developing markets in the second quarter, a survey by HSBC showed on Thursday, thanks to rising optimism following the reopening of the Chinese economy. Some two thirds of the respondents expected emerging equities to outperform those of the developed economies in the next three months, the survey of 138 investors from 133 institutions, conducted between Jan. 24 and March 6, found. More than two thirds of the respondents expected emerging currencies to beat those of developed markets in the same period. Those surveyed represent $547 billion in assets under management. “Asia has seen the largest improvement in sentiment, largely reflecting the expectations of a strong rebound of Chinese economic activity,” said Murat Ulgen, Global Head of Emerging Markets Research at HSBC. The MSCI emerging market equity index has risen 2 percent since the start of the year, though those gains come in the wake of a … [Read more...] about Emerging market investors turn increasingly bullish for Q2, HSBC survey shows
XRP Prices Fall Over 15% After Reaching Highest Since November
Share to Twitter Share to Linkedin XRP prices have taken a tumble lately, losing value after climbing to their highest in over four months. The digital token, which serves as the native asset of the Ripple platform, fell to as little as $0.4094 this afternoon, according to CoinDesk data. At this point, the cryptocurrency was down more than 17% from the recent high of $0.4933 it reached close to 5 p.m. EST last night, additional CoinDesk figures reveal. Before reaching that value, its loftiest since November, the digital currency enjoyed an impressive rally, climbing more than 20% in under 24 hours. When explaining these recent declines, analysts pointed to a handful of variables, including profit taking and regulatory uncertainty, as well as the market’s response to the ongoing lawsuit involving Ripple, some of its key executives, and the U.S. Securities and Exchange Commission. This legal activity has generated significant visibility, as … [Read more...] about XRP Prices Fall Over 15% After Reaching Highest Since November