Feds rate hike

Share to Twitter Share to Linkedin C how Shing Yuk, a former professional poker player who studied economics at Stanford University, has joined the billionaire ranks, but not because he drew a lucky hand. Over the past decade, Chow, 44, has steadily built Lalamove into a logistics and delivery giant from a base in Hong Kong, backed by the likes of Neil Shen’s Sequoia China and Lei Zhang’s Hillhouse Capital. On Tuesday, Chow’s company, whose formal name is Lalatech Holdings, filed for an initial public offering in Hong Kong that revealed he owns a 25% stake through a family trust. Based on Chow’s stake and proceeds of earlier share sales, Forbes estimates, his net worth to be $2.2 billion, making him a rare startup billionaire in Hong Kong. Lalatech’s last private fundraising was a $230 million Series G round in November 2021, during the startup bubble. According to a report by technology website the Information, that round valued Lalatech at a … [Read more...] about Former Pro Poker Player, Who Founded Asian Delivery Giant Lalamove With His Winnings, Becomes A Billionaire

Inflation concerns among small business owners remained at record highs this quarter, according to a quarterly poll conducted by the U.S. Chamber of Commerce and MetLife released on Wednesday. The first quarter of 2023 was the fifth in a row where inflation was considered the biggest challenge for small business owners, according to the Small Business Index. A record high of 54% reported that, which is a 31-point increase from Q4 2021. “This quarter, small businesses’ concerns over inflation are soaring and their view of the broader economy is darkening, though they still report that their own businesses are in good health,” said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. In San Francisco, minimum wage increases are based on the yearly rise in the Consumer Price Index every July 1. “That means my rate jumps from $16.99 to $18.07 or 6.36%,” said Hrag Kalebijan, owner of Henry’s House of Coffee, according to the Index. “The … [Read more...] about Inflation Continues To Plague Small Businesses For Fifth Consecutive Quarter: REPORT

Daqo New Energy Corp., a maker of silicon and polysilicon products used primarily in solar energy applications, tops the list of stocks offering the best value in the tech sector heading into April. In the growth category, 3D printing firm Nano Dimension Ltd. leads the way, while chip testing provider Aehr Test Systems is the tech stock with the most momentum. In March, the U.S. Federal Reserve raised interest rates for the ninth time in a year. The latest increase comes in the midst of a banking crisis triggered by the collapse of tech-friendly Silicon Valley Bank and Signature Bank. Since tech companies are sensitive to higher interest rates, stocks in the sector have struggled throughout the Fed's anti-inflation campaign. Tech stocks, represented by the Technology Select Sector SPDR Fund ( XLK ), lost a tenth of their value in the past year, compared with a 14% drop in the Russell 1000 Index. Despite the challenging environment, the companies listed here are leading the … [Read more...] about Top Tech Stocks for April 2023