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Share to Twitter Share to Linkedin Tesl TSLA a is at the center of another controversy. Its newest factories are burning through mountains of cash. Investors are worried about bankruptcy. Bloomberg reported on Thursday that Elon Musk said the Berlin and Austin factories are money furnaces. The headline amped up fear, uncertainty and doubt about the automaker. Shares slipped. Shareholders should beware. FUD works. In fairness, Musk was simply being honest. New factories blaze through capital as they scale up production. Equipment costs can be monumental, especially during an innovation cycle. New employee training, stockpiling components from suppliers, and ongoing construction costs add up too. These cash outlays are stacked up against limited production runs to work out the bugs. The factories in Berlin, Germany and Austin, Texas represent the evolution of the wildly successful “Giga” Shanghai facility, opened in 2019. That Chinese plant … [Read more...] about Tesla Factories Actually Burn Through Skepticism

Share to Twitter Share to Linkedin Key News Asian equities were a sea of red following the US equity downdraft yesterday. China and Hong Kong were hit with a round of good old fashion profit taking in advance of Friday’s Hong Kong market holiday. Yes, President Xi reiterated the success of the zero covid/lives first policy while visiting Wuhan. At the same time, early indications are that Chinese travelers are aggressively booking domestic and foreign travel following the easing of quarantine policies. According to a mainland article, “…the search volume for air tickets on the platform increased 60% within 30 minutes, the search volume for hotels doubled, and the search volume for trains increased by up to 1.5 times”. That’s the first half-hour! A mainland media source noted that the Ministry of Industry and Information Technology (MIIT) removed the identification star of those who had traveled to cities with a covid outbreak on people’s phone-based … [Read more...] about Profit Taking Hits Despite Travel Booking Bonanza Post Quarantine Easing

- A + A DUBLIN/LONDON (June 29): A dirty little secret in a US$1.2 trillion world of credit is getting exposed as the Wall Street rout deepens: Private debt is now the cheaper financing option for big-ticket leveraged borrowers than the ailing public market — upending industry norms. As banks get pummelled by risk aversion and sinking asset values, direct lenders are lavishing risky companies and private-equity firms with capital at rates below what’s available in the volatility-lashed high yield and syndicated loan market. These asset managers are so desperate to unleash all the billions amassed in the low-yield era that they’re increasingly putting up with lower returns than their risk-averse peers in other parts of the credit world are willing to stomach. As traditional lenders beat a retreat, the bonanza is helping power leveraged buyouts with deals including The Access Group, Davies Group, Ivirma Group and Zendesk. “We have seen a few cases in which private … [Read more...] about Private lenders are offering cheaper debt than Wall Street banks

This article first appeared in The Edge Malaysia Weekly, on June 13, 2022 - June 19, 2022. - A + A STARTING out as a waste management and environmental company before venturing into the renewable energy (RE) space, Cypark Resources Bhd has been the proxy for the RE theme play, given its exposure to the niche landfill-sanitisation market and the fact that it is the only company of its kind in Malaysia. While there have been ups and downs for Cypark since it was listed about 12 years ago, the last three weeks have been arguably the most challenging period for the company, which intends to convert solid waste into electricity. Its share price plunged 55% to 31 sen on June 10, from 69 sen on May 20. Concerns have been raised over the delays of Cypark’s ongoing projects, including its floating solar plant in Tasik Danau Tok Uban (DTU) in Pasir Mas, Kelantan, and its solid waste modular advance recovery and treatment waste-to-energy (SMART WTE) plant in Ladang … [Read more...] about Should Cypark shareholders be worried?

Minneapolis (CNN Business) The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday. With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming. Real gross domestic product declined at an annualized rate of 1.6% from January to March, according to the BEA's third and final revisions for the quarter. Previously, the advance estimate released in April showed a contraction of 1.4%. Last month, that was revised to a decrease of 1.5%. The first quarter GDP performance, which the BEA noted includes some unquantified effects from the pandemic and the Omicron variant surge, stood in contrast to the fourth quarter of 2021, when the economy grew at a rate of 6.9% from the prior quarter. Read More The first quarter of 2022, however, marked the start of Russia's invasion of Ukraine, which sent economic … [Read more...] about The US economy shrank 1.6% in the first quarter, adding to recession fears

What matters more: a company’s profit margins or its purpose? For a growing share of workers, the answer is obvious. In a competitive labor market, candidates look for a fair and inviting workplace. But more than that, many employees want their work to make a difference. Their purposeful career choices leverage corporate resources to help create a better, more equitable world. advertisement advertisement The good news is, many companies have made the same decision. Environmental, social, and governance (ESG) principles have emerged as an urgent reflection of corporate purpose. Shareholders increasingly view business prospects as tied to corporate social responsibility. As a result, leading firms have made a full commitment to pursuing ESG factors. And new hires should expect nothing less from potential employers. To advance your career and realize your potential in a purpose-driven world, you can’t afford to ignore three ESG trends. Understand … [Read more...] about Why your career growth depends on working for a company committed to ESG

It’s natural to feel tense when you’re going into a stressful situation, but tension can trigger emotions that derail conversations. Unfortunately, our remote world isn’t helping. We have fewer conversations, and that’s impacting our communication skills, says Hesha Abrams, author of Holding the Calm: The Secrets to Resolving Conflict and Defusing Tension . advertisement advertisement “Our society is so fractured now,” she says. “We don’t have to talk to each other anymore. As a result, we don’t know how to resolve conflict other than, ‘Let me just tell you how wrong you are. You should listen to me.’ And that is fatally ineffective.” Part of the problem is our biology, specifically the amygdala, which is located in the back of our brain just above the brainstem. “[It’s] the fear and negativity center of the brain,” says Abrams. “[The amygdala is] useful if you were a caveman or cavewoman who wants to know, ‘Is that a stick or a snake?’ The brain … [Read more...] about How to remain calm when you’re approaching a difficult situation

Stock Market Today: The Indian market ended lower after a volatile session on June 29, a day ahead of the monthly expiry with investors also nervous about monthly auto numbers and PMI data to be released later in the week. At close, the 30-pack Sensex lost 0.25 percent, or 134.31 points, to end the day at 53,027, while the broad-based Nifty ended lower by 32.95 points, or 0.21 percent, at 15,799. “Consumer confidence is declining rapidly due to the uncontrolled and constant rise in inflation as India had to bear the double whammy effect of a dampening global equity market and rising crude prices as major suppliers like Saudi are unable to boost the output in the short-term”, said Vinod Nair, Head of Research at Geojit Financial Services. The domestic market, however, was able to recover most of the losses due to a strong movement in index heavyweights, PSUs, metals and oil & gas stocks before squandering some of the gains at the end of the day due to a volatile global … [Read more...] about Taking Stock | Market ends lower in choppy session ahead of expiry, auto and PMI data

An awesome inside look at “The Terminal List” has dropped. The Amazon show with Chris Pratt is based on a book of the same name from Jack Carr, and there’s a very good chance it’s going to be the best show of the summer when it comes out this Friday. (RELATED: Watch The Sinister New Trailer For ‘ The Terminal List ’ With Chris Pratt) Judging from a special behind the scenes look, fans are in for an awesome time. Give it a watch below. Three days until @TerminalListPV . pic.twitter.com/fqnrfUQXlp — Prime Video (@PrimeVideo) June 28, 2022 I can’t wait for Friday to get here. It’s going to be one hell of an awesome day in terms of entertainment. The rest of “Stranger Things” season four is coming out, and “The Terminal List” is premiering on Amazon. Without spoiling anything, Jack Carr told me the show will have the same spirit and violence of the book. For those of us who read the book, that is music to our ears. Chris Pratt’s New Action … [Read more...] about Watch An Inside Look At Chris Pratt In ‘The Terminal List’

Share to Twitter Share to Linkedin Name: Charles Zhang Firm: Zhang Financial Location: Portage, Michigan AUM: $4.1 billion Forbes Rankings: America's Top Wealth Advisors, Best-In-State Wealth Advisors Background: Growing up and attending college in Shanghai, Zhang came to the U.S. at age 21 to attend Western Michigan University on a scholarship where he got his masters in economics. He started his career at Ameriprise before opening up shop as Zhang Financial through LPL Financial. Zhang also went back to school to get his master of business administration at the Kellogg School of Management at Northwestern University. Since starting his own firm, he has been working with his wife, Lynn Chen-Zhang, who is CEO and chief compliance officer. Chen-Zhang is a certified public accountant and worked at PwC and Kellogg Company before joining the firm. Investment Philosophy/Strategy: Zhang preaches diversification and is bullish on … [Read more...] about How A Top Advisor Moved From Shanghai To Michigan And Built A Multi-Billion Dollar Firm