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- A + A (June 27): Chinese stocks extended gains into a fifth week, bringing them close to a bull market, as investors turned increasingly upbeat amid eased pandemic curbs in Shanghai. Tech shares also rallied in Hong Kong to the highest in nearly four months. The recent rebound in Chinese equities, which started in April while stocks elsewhere were still selling off, is gaining momentum thanks to an improving economic outlook as well as persistent monetary and fiscal stimulus. President Xi Jinping's planned visit to Hong Kong is boosting stocks that would benefit from easing pandemic restrictions such as Macau casinos. The benchmark CSI 300 Index gained 1.1%, adding 4% in three sessions, led by consumer shares, as Shanghai's leader declared victory in defending the financial hub against Covid-19 and will this week allow residents to dine in restaurants in some areas deemed lower risk. Drinks maker Eastroc Beverage Group Co and food supplier Yihai Kerry … [Read more...] about China stocks approach bull market as investors catch up on gains

Share to Twitter Share to Linkedin F or Elon Musk’s acquisition of Twitter to work out as he’d like, Musk must find some way to supersize the company. Its business is long-undersized compared to the platform’s presence in culture and politics. As a model, Musk has set at least some sights on the original so-called super app, WeChat, which is owned by China-based Tencent. In Musk’s first town hall meeting with Twitter employees last week, he directly mentioned WeChat, indicating that building something like it would further his broader goal of nearly quintupling Twitter’s user base to a billion people. “There’s no WeChat equivalent out of China,” he said at the meeting. “There’s a real opportunity to create that.” Much of what Musk says can seem outlandish. (At the meeting, he also discussed the possibility of alien life.) But his thinking about WeChat isn’t, though it is not especially novel. WeChat’s success has tantalized many a Silicon Valley mogul; … [Read more...] about Elon Musk And The Super Alluring Dream For A ‘Super App’

Share to Twitter Share to Linkedin Eyewear mogul Leonardo del Vecchio—whose firm owns Ray-Ban, Sunglass Hut and more—died at age 87, with a fortune worth an estimated $25.5 billion and six children from three different relationships. The death of Italy’s second-richest man, Leonardo Del Vecchio , means that his estimated $25.5 billion fortune will now be divided among his heirs. The 87-year-old eyewear mogul leaves behind his second wife, Nicoletta Zampillo, and six children from three different relationships, ranging in age from 18 to 65. All seven are now likely to become billionaires, inheriting Del Vecchio’s Luxembourg-based holding company Delfin and its billions of dollars in assets. One of Italy’s most famous entrepreneurs with a rags-to-riches tale of success, the factory apprentice-turned-eyewear mogul lived in Monaco and held his vast fortune—including ownership of Sunglass Hut, Ray-Ban and Oakley—through Luxembourg-based Delfin. After a … [Read more...] about Here’s How Many Billions The Heirs Of Italy’s Second Richest Man–Who Died Monday–Stand To Inherit

Share to Twitter Share to Linkedin There are retail giants – Macy’s, Dillard’s, Nordstrom JWN . Bloomingdale’s to mention just a few. Will they survive and what will they be like? Are they the dinosaurs of yesteryear? Recently there was a shopping center convention in Seattle, hosted by Nordstrom and under the aegis of IGDS (International Group of Department Stores}, that discussed the past, present and especially the future. Some observations are included below. 1. Changes will occur, and it is important to know that young people, millennials and GenZ want to have a say in what stores will be like. They will dictate content, rapid service and especially whether stores have taken action on sustainability. 2. Sustainability must include reduction of gases, conservation of energy, storage and usage of solar energy, 3. To compete and to survive in the current, challenging environment, brands require economies of scale that are often beyond their … [Read more...] about How Department Stores Will Survive

Share to Twitter Share to Linkedin The latest Hindi film, JugJugg Jeeyo has earned $4.7 million over the first weekend in India. The movie features Neetu Kapoor, Anil Kapoor, Varun Dhawan and Kiara Advani. It also marks Neetu Kapoor’s return to films after a long gap of nine years. The film collected $0.75 million in US markets alone. The film had a decent opening and made $1.1 million on Friday when it released. The collections saw a steep rise on Saturday and the film bagged $1.59 million on the second day. Directed by Raj Mehta, the film released across 3500 screens in India alone, and saw further rise in collections on Sunday. It collected $1.9 million in India alone. JugJugg Jeeyo traces the story of a family in which the parents, and the son decide to go for a divorce. How a modern, but typical Indian family deals with the news and what changes it brings, is what the film explores. Much like Mehta’s first film, Good Newwz, JugJugg Jeeyo … [Read more...] about India Box Office Report: ‘JugJugg Jeeyo’ Earns $4.7 Million In Three Days