- A + A LONDON (June 30): Investors knew that, after two years of COVID-19 chaos, 2022 would be a bumpy ride, but nobody expected this - the most turbulent first half global markets have ever seen. To grasp just how torrid things have been, consider two things. MSCI's 47-country world stocks index has suffered its biggest 1H drop since its creation in 1990. At same time, 10-year U.S. Treasury bonds - the benchmark of global borrowing markets and traditional go-to asset in troubled times - have had their worst first half since 1788. Why? Russia's invasion of Ukraine supercharged what was already fast-rising inflation, forcing the big central banks to jack up interest rates and politicians to warn of new world orders. The result? A $13 trillion wipeout in world stocks, a 15.5% plunge Japan's yen, Italy's worst rout since the euro zone crisis, and what is shaping up to be the strongest commodities rally since World War I. Add to that Russia being gouged out the … [Read more...] about Markets in 1H: The almost perfect storm
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Electronics companies dealing with a ‘mountain of inventory’
Monitors are on display at a retail shop in Seoul. [NEWS1] Samsung Electronics and LG Electronics are facing historically-high inventory levels as demand for electronic devices weakens and the world finds itself awash in everything from smartphones to appliances. The flip from dearth to glut could have a wide-ranging impact. Companies are cutting orders from parts suppliers. Workers are getting fewer hours and losing their jobs. And earnings and balances sheets could be hit. Samsung Electronics, the world's largest manufacturer of televisions and smartphones, carried 47.6 trillion won ($36.6 billion) of inventory in the first quarter, up 55.4 percent on year. The figure, which has been reported by the company since 2000, is an all-time high. LG Electronics had 10.2 trillion won of inventory in the same period, up 27.7 percent on year. The excess inventories suggest lower-than-expected sales of smartphones, televisions and other home appliances as people struggle to afford … [Read more...] about Electronics companies dealing with a ‘mountain of inventory’