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- A + A NEW YORK (May 19): A benchmark ESG stock index has removed Tesla Inc, sparking a debate about which companies do — and don’t — pass muster with socially aware investors. Tesla has grown into a US$735 billion company on the back of its breakthrough electric-vehicle engineering. Its own carbon footprint is a small fraction of its peers, and its success in the market has pushed the industry overall away from gas-powered vehicles. But the other components of ESG — the social and governance risks — give investors pause. Chief Executive Officer Elon Musk is an unconventional manager, prone to impulsive tweeting, and the company discloses very little information about its workforce or labour conditions. That split became material Wednesday after it emerged that Tesla was expelled from the ESG version of the S&P 500 Index. Musk responded by saying ESG is “a scam”. It added to an already bad day for the company, whose stock fell 6.8% amid a broad selloff in tech … [Read more...] about Tesla’s removal from S&P Index sparks debate about ESG ratings

KUALA LUMPUR: The rollout of the fifth-generation mobile network (5G) via single wholesale network (SWN) through Digital Nasional Berhad (DNB) will enable the people to enjoy cheaper 5G service. Communications and Multimedia Minister (MenKOMM) Tan Sri Annuar Musa (pic) said this is because only one company would be involved in providing infrastructure while telecommunications companies would focus on providing the service. "The 5G service needs many towers...imagine if each company builds its own towers in Kuala Lumpur, the city will be full of towers when we only need a single highway which is more efficient with no overlapping and better managed while the concept of SWN, DNB is not to create a monopoly. "The government also agreed to make a 70 per cent modification (DNB equity holding by telecommunication companies). However there is only one platform which is DNB managing infrastructure to keep the cost low and we hope the people would receive 5G service at a lower … [Read more...] about 5G rollout with single wholesale network will keep rate lower, says Annuar

- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

- A + A (May 19): Indonesia, the world’s biggest shipper of edible oils, lifted a ban on palm oil exports in a move that will bring relief to the global market after the war in Ukraine choked off critical supplies. Palm oil exports can resume from May 23, President Joko Widodo said in an online briefing on Thursday. This is after considering improvements in local supply and prices, as well as the 17 million workers in the industry, he added. Indonesia’s ban, which was imposed since April 28, was one of the biggest acts of crop protectionism since Russia’s invasion of Ukraine, which stymied exports of sunflower oil and worsened a global shortage. Palm oil is used in everything from food to soap to fuel, and the move by Indonesia threatened to push up costs even more across multiple supply chains at a time of rampant inflation. “Consumers can breathe a sigh of relief now,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari … [Read more...] about Indonesia lifts palm oil export ban in relief to global market

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Investors of Life Insurance Corporation of India (LIC) lost over Rs 50,000 crore on the stock’s debut on May 17. It listed at Rs 867.20 per share, an over 8.5 percent discount to its issue price, after the firm's initial public offering was oversubscribed nearly three times last week. The firm raised around Rs 21,000 crore and was valued at Rs 6.01 trillion at its upper price band of the issue of Rs 949 a share. At close of trade on May 17, the stock settled at Rs 872.70 on the BSE, down 8.04 percent from its issue price, taking its market capitalisation to Rs 5.52 trillion. After opening at Rs 867.20, the stock touched a high and low of Rs 920 and Rs 860.10, respectively. With the listing, policyholders and employees also saw their investments turn negative. LIC had offered a discount of … [Read more...] about Tepid listing of LIC shares leaves investors poorer by over Rs 50,000 crore

Share to Twitter Share to Linkedin Alaska has long since been on the top of many a family’s bucket list. People dream of seeing the area’s big five— grizzly bears, moose, caribou, Dall sheep and gray wolves—as well as the incredible scenery, including miles of wilderness, untouched forests and expansive glaciers. The most popular way to see Alaska is via a cruise—the Inside Passage allows passengers to unpack once while getting a taste of many different topographies and landscapes. Covid halted many cruise lines and fear of large crowds has worried some perspective travelers. But after being cooped up for two years, many people are ready to venture out again and the wilderness of the last frontier is calling. “Covid changed the travel landscape and rather than resisting change we stepped into it,” says Captain Dan Blanchard, CEO, of Uncruise Adventures . “It has been restructuring from the inside out. We are more nimble and data-driven in everything we … [Read more...] about A Different Approach To A Bucket List Trip

PHOTO: Bangkok Thailand Soi Dog Phuket’s Soi Dog Foundation has sent The Thaiger a response to an article published on October 16. The story was sourced from our Bangkok partners ‘The Nation’ and, according to Soi Dog, contains some glaring inaccuracies. You can read the original article HERE . We reprint the response from the Soi Dog Foundation below… “The Department of Livestock Development (DLD) carries out a survey, twice a year, in an attempt to count the number of dogs and cats in the country, both owned and stray. In 2016, it counted 7.3 million dogs and 3 million cats in Thailand, excluding Bangkok. This year the number of dogs was recorded by the DLD as 7,770,969, excluding Bangkok. We at the Soi Dog Foundation carried out a census of free roaming dogs in Greater Bangkok two years ago and came up with a figure of 640,000, so a realistic number for dogs nationwide is somewhere around 8.4 million, not – as your story states – 820,000. Another figure given in … [Read more...] about Soi Dog Foundation responds to rabies and dog registration stories

- A + A NEW YORK/BENGALURU (May 19): The S&P 500 and the Dow extended losses on Thursday as Cisco Systems slumped after it gave a dismal outlook, while investors fretted over the impact of surging inflation on economic growth and corporate earnings. Shares of the networking gear maker slumped 12.7% as it lowered 2022 revenue growth outlook, taking a hit from Russia exit, as well as component shortage due to China lockdowns. Kohl's Corp slipped 1.1% after the department store chain cut its full-year profit forecast, the latest US retailer to flag a hit from four-decades high inflation. The S&P consumer staples index fell 1.9% to hit a seven-month low and was the biggest decliner among the 11 major sectors, as retail firms face the brunt of rising prices hurting the purchasing power of US consumers. "The consumer component is now starting to weaken, which bolsters the perspective that we are indeed heading into a recession," said Randy Frederick, managing … [Read more...] about S&P 500, Dow slip as Cisco drags, Nasdaq steady after selloff

New York (CNN Business) The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday's massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips are down 14% this year and hit a new 52-week low Thursday morning. The S&P 500 , which is perilously close to dropping 20% from the all-time high it set on January 3 and into a bear market, fell 0.6%. The tech-heavy Nasdaq , which is already in bear market territory, was down 0.3%. The Nasdaq has plunged 27% just this year. Prominent tech stocks were among the bigger market losers Thursday after Dow component Cisco reported sales that missed forecasts and also gave a weak outlook. Cisco ( CSCO ) plummeted 14% on the news. Retail leaders Walmart ( WMT ) and Target ( TGT ) , which have dragged down Wall Street … [Read more...] about Worst may not be over for the market. Stocks fall again

This is an updated version of a story that previously ran on April 28th. When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates -- and Covid cases -- are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears . No one's finances are immune. But there are ways to guard against losses and make the most of what you have. Lock in a new job now With ultra-low unemployment and plenty of openings , it's a job seeker's market right now. But if there's a recession, that could change quickly. So make hay while you can. Read More "If you are not working, or are looking for a better position, now would be a good time to take advantage of the very strong job market and lock in a position," said Florida-based certified financial planner Mari Adam. To help in your search, here are some resume dos and … [Read more...] about Plunging stocks, recession fears. Here’s how to protect your money