Fresh market grass fed beef

Share to Twitter Share to Linkedin Topline High-profile stock picker Cathie Wood conceded to being wrong about the duration of high inflation that's contributed to her fund's steep decline this year while doubling down on her belief that the economy has fallen into a recession—defying a vast majority of experts noting a recession is unlikely this year despite growing odds of one next year. Key Facts “We think we are in a recession,” Wood, the founder and CEO of New York City's Ark Invest, said on CNBC's Squawk Box Tuesday, noting that excess inventory driving up costs and leading to wider-than-expected profit shortfalls for corporations like Walmart and Target is a "big problem" facing the economy. Wood first declared the U.S. had fallen into a recession last week, warning on Twitter that massive inventories (often viewed as a leading indicator for demand) have the potential to unwind and hurt growth for the rest of the year, as consumer … [Read more...] about Cathie Wood Claims Economy Already In A Recession—Warns Inflation And Inventories Pose ‘Big Problem’

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don't need to go as far back as 1918. Instead, we can look to 1998 . That's the year Russia defaulted on ruble-denominated bonds, triggering a "Moscow meltdown" that infected markets around the globe. Quick rewind: In August 1998 , following years of upheaval after the fall of the Soviet Union, the Russian government defaulted on its local debt and devalued the ruble. The move sparked chaos in Russia, driving up inflation, causing an economic contraction and triggering bank … [Read more...] about Russia’s last default sparked a crisis. This time is different

If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession

- A + A KUALA LUMPUR (June 28): Kim Loong Resources Bhd’s net profit for the first quarter ended April 30, 2022 (1QFY23) climbed 38.2% year-on-year to RM39.23 million from RM28.38 million, as revenue jumped amid higher average selling prices of fresh fruit bunch (FFB) and crude palm oil. According to its bourse filing on Tuesday (June 28), the group's revenue jumped 63.14% to RM509.74 million from RM312.45 million. Earnings per share rose to 4.06 sen from 3.04 sen. No dividend was declared. Kim Loong said the ASP for FFB rose 56% year-on-year, while the ASP for CPO was up 58%. FFB production also grew 7%, while CPO production increased 2%. On prospects, the group’s management forecasts that FFB production for FY23 could be 15% higher than the quantity achieved in FY22, if the labour shortage problem does not deteriorate further. “As for palm oil milling operations, the management expects a total processing quantity of about 1.50 million MT (metric tonnes) of FFB … [Read more...] about Kim Loong’s 1Q profit up 38% on higher CPO, FFB selling prices

- A + A KUALA LUMPUR (June 28): United Malacca Bhd recorded a net profit of RM18.72 million for its fourth quarter ended April 30, 2022 (4QFY22), compared with a net loss of RM11.7 million in the same period last year, thanks to higher crude palm oil (CPO) prices. Revenue grew 38.64% to RM147.45 million from RM106.36 million, backed by the group's operations in Malaysia which recorded a plantation profit of RM42.7 million, up 180% from RM15.2 million previously. The group posted earnings per share of 8.92 sen, compared with the loss per share of 5.58 sen seen last year, its bourse filing on Tuesday showed. "Higher earnings before interest, taxes, depreciation and amortisation (EBITDA) in the current quarter were mainly due to higher average CPO price of RM6,034 per tonne compared to RM3,454 per tonne in the preceding year. "[This is in addition to] palm kernel price of RM4,526 per tonne from RM2,549 per tonne in the preceding year even though fresh fruit bunch … [Read more...] about United Malacca’s 4Q profit drops 38% quarter-on-quarter to RM18.8 mil, declares 10 sen dividend

The past two years have seen more than a tenth of Americans move from low-paying labor jobs to positions in tech. Dubbed as “new collar workers,” many of these people used recent lockdowns to learn new skills that have helped them find higher salary roles with greater flexibility. This workforce of people from non-conventional backgrounds can bridge the tech talent shortage, but only if companies can adapt their recruitment processes accordingly. advertisement advertisement Players like Google, Apple, and IBM have taken the step of dropping college degree requirements to attract new collar workers, but bringing on board new workers requires more than eliminating formal education requisites. Even before the pandemic, nearly one third of developers considered themselves self-taught, meaning the relevance of the college degree had already slipped. With the tech industry adding 12,300 jobs from February to March this year, … [Read more...] about How ‘new collar workers’ can help companies push past the Great Resignation

The technology world is a funny place. One day you think a device is dead, or at least well on its way to being discontinued. The next, it's back with a whole new breath of fresh air. That was on full display on Tuesday when Apple unveiled a new version of the iPod Touch . The new model, which costs $199, features a design similar to the old iPhone 7, but offers a new A10 Fusion chip and support for Group FaceTime. If you did a double-take on that, don't feel bad. Yes, the iPod (not the iPhone) was refreshed on Tuesday. And although the iPod and music players have become obsolete, there are some compelling reasons to actually buy one. And of course, there's one big reason not to buy an iPod Touch. Buy Reason 1: A Great Price Look, it's not easy to find an affordable Apple device. But the iPod Touch bucks that trend. For a device that has full access to the App Store, works with Apple Music, and comes with a relatively nice (albeit, … [Read more...] about Apple Just Announced a New iPod Touch. 3 Reasons Why You Should Buy It–and 1 Big Reason Not to