HONG KONG: The dollar started the week just off a 20-year high against peers on Monday, as investors sought safety due to fears about global growth while cryptocurrency markets appeared to find some stability after last week's turmoil. The dollar index was at 104.54, having briefly crossed the 105 level on Friday, its highest since December 2002, after six successive weeks of gains. Investors have flocked to the safe-haven currency on concerns about the U.S. Federal Reserve's ability to dampen inflation without causing a recession, along with worries about slowing growth arising from the Ukraine crisis and the economic effects of China's zero-COVID-19 policy. "Broad USD strength is being supported by a mounting global growth concern," said Barclays analysts. They said events to watch this week included U.S. retail and production data due Tuesday, as well as public remarks from several Fed officials. "Focus will be on any potential reiteration/pushback on the notion that … [Read more...] about Dollar starts week on strong footing on firm safe-haven bid
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30 Executives’ Perspectives On Remote, Hybrid, And In-Office Work
Share to Twitter Share to Linkedin Whether you’re a manager at a company with 3,000 employees or three, something that leaders across industries have learned in the past two years is that giving employees more flexibility is key to retention and recruiting of new hires. The pandemic forced the majority (~70%) of the US workforce to adapt in a plethora of different ways to keep everyone healthy while still continuing to work efficiently. Companies that previously had 0% of their employees working remotely had to figure out how to seamlessly transfer all operations to a 100% digital environment. While obviously a ton of bad things came from the pandemic, that’s not to say there weren’t learnings and lessons discovered across the board. The reality is that more talent in every part of the country, and the world, now has access to greater opportunities because of the increased normalization of remote work. Gone are the days where you have to live in San Francisco … [Read more...] about 30 Executives’ Perspectives On Remote, Hybrid, And In-Office Work
Can Coca-Cola (KO) Keep Up the Trend?
As one of the larger companies of the consumer discretionary sector, The Coca-Cola Company ( KO ) shares have enjoyed a relative upward trend since the beginning of 2022 as investors appear to be bracing for potential interest rate hikes. Coca-Cola shares currently trade in an above average range based on historical volatility, and option traders appear to be positioned for the stock to rise after the company reports earnings for the fiscal fourth quarter. Analysts expect the company to announce $0.41 in earnings per share (EPS) and $8.93 billion in revenue. Investors will be paying keen attention to how Coca-Cola has managed to navigate ongoing supply chain issues and how rising costs could affect the bottom line. Insiders have recently increased the amount of shares being sold, unloading over 314,000 shares valued at close to $18.6 million over the past 90 days. Investors will be keeping an eye on if the beverage maker can continue to increase sales volume and what, if … [Read more...] about Can Coca-Cola (KO) Keep Up the Trend?
Hong Kong becomes world’s must-watch market
FOR global investors trying to the gauge the fallout from surging interest rates and slowing economic growth, Hong Kong is quickly emerging as a must-watch market. Perhaps nowhere else is as exposed to two of the biggest worries roiling global asset prices – the Federal Reserve’s (Fed) rapidly tightening monetary policy and China’s sputtering economy. While Hong Kong’s US$466bil (RM2 trillion) foreign-reserves stockpile and plentiful interbank liquidity suggest little chance of an imminent crisis, signs of financial stress are building. This week saw the city intervene to prop up its pegged currency for the first time since 2019. Its stock market has tumbled this year at one of the fastest rates globally. Home prices in the world’s least affordable property market are falling and signs of capital flight are multiplying, after portfolio outflows last year topped US$100bil (RM440bil) for only the second time since Hong Kong’s 1997 handover to China. “There’s a lot the city … [Read more...] about Hong Kong becomes world’s must-watch market
Retail’s Worry: As Philippines Trade Ramps Up – Will Bongbong Marcos Question America’s Love?
Share to Twitter Share to Linkedin More than eighty percent of eligible voters turned out for the Philippines Presidential Election, and it looks a landslide victory for Ferdinand (Bongbong) Marcos Jr. While they are finishing the vote count, several media critics are already trying to punch holes in Bongbong’s stunning landslide victory. Some have pointed to the excesses of his father’s regime (of 36 years ago), while others have targeted his 92-year-old mother (Imelda). Some allege a closer friendship to China, but few have spent time examining the erosion of Philippine love for America – an important analysis for a former USA colony - where the average citizens really do love America. In bygone days, Capitol Hill pushed for closer ties with Manila but, sadly, the former pro-Philippine hawks have long since vacated the building. With Bongbong now on the rise, the U.S. Government is taking a fresh look at ways to improve the relationship. As everyone … [Read more...] about Retail’s Worry: As Philippines Trade Ramps Up – Will Bongbong Marcos Question America’s Love?
Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters
Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters
Golden arches to go dark in Russia as McDonald’s exits after 30 years
- A + A BENGALURU (May 16): McDonald's Corp on Monday became one of the biggest global brands to exit Russia, laying out plans to sell all its restaurants after operating in the country for more than 30 years, following the invasion of Ukraine. The world's largest burger chain, which owns about 84% of its nearly 850 restaurants in Russia, will take a related non-cash charge of up to US$1.4 billion following its sale. McDonald's had in March decided to close its restaurants in the country, including the iconic Pushkin Square location in central Moscow — a symbol of flourishing American capitalism in the dying embers of the Soviet Union. The burger chain represented the thawing of Cold War tensions and became a way to sample Western food and spirit for millions of people, even though the cost of a burger was several times bigger than the daily budgets of many city dwellers. "Some might argue that providing access to food and continuing to employ tens of thousands … [Read more...] about Golden arches to go dark in Russia as McDonald’s exits after 30 years
Oil prices rise on China demand optimism, gasoline strength
An aerial view shows an Idemitsu Kosan Co. oil facility in Ichihara, east of Tokyo, Japan Nov. 12, 2021, in this photo taken by Kyodo.(Kyodo/via REUTERS) NEW YORK — Oil prices rose on Monday on optimism that China would see significant demand recovery after positive signs that the coronavirus pandemic was receding in the hardest-hit areas. Brent crude rose $1.34, or 1.2%, at $112.89 a barrel at 12:10 p.m. EDT (1710 EDT) 1342 GMT, while US West Texas Intermediate (WTI) crude rose $2.22, or less than 0.1%, to $$112.71 a barrel. Shanghai aims to reopen broadly and allow normal life to resume for the city’s 25 million people from June 1, a city official said on Monday, after declaring that 15 of its 16 districts had eliminated cases outside quarantine areas. However, it is estimated that 46 cities in China are under lockdowns, hitting shopping, factory output, and energy usage. “We are seeing a lot of signals that demand will start returning in that region, supporting higher … [Read more...] about Oil prices rise on China demand optimism, gasoline strength
Oil prices fall on China’s weak economic data
FILE PHOTO: An aerial view shows an Idemitsu Kosan Co. oil facility in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS LONDON — Oil prices fell on Monday as widespread lockdowns in China and weak Chinese economic data fueled fears of a global recession, though the market found some support as the European Union stepped closer to an import ban on Russian crude. Brent crude was down 72 cents, or 0.7%, at $110.83 a barrel at 1236 GMT, and U.S. West Texas Intermediate (WTI) crude slipped 58 cents, or 0.5%, to $109.91 a barrel. The fall in oil prices “is chiefly due to the weak Chinese economic data, as the lockdown measures are having a direct impact on the world’s second-largest market,” said Barbara Lambrecht, energy analyst at Commerzbank. It is estimated that 46 cities in China are under lockdowns, hitting shopping, factory output, and energy usage. The latest Chinese data showed retail sales in April shrank … [Read more...] about Oil prices fall on China’s weak economic data
Stock markets struggle as fears over economy grow
- A + A LONDON (May 16): European stocks slipped on Monday and Wall Street was set for a lower open, as investor sentiment struggled to recover from last week's sell off amid fears of a slowdown in economic growth. Global shares hit their lowest point in 18 months last week, with investors worried that rising interest rates to counter high inflation will damage the global economy. Unexpectedly weak economic data kept from China kept those worries in centre stage on Monday. April retail sales plunged 11.1% on the year, almost twice the fall forecast, as full or partial Covid-19 lockdowns were imposed in dozens of cities. Industrial output dropped 2.9% when analysts had looked for a slight increase. At 1104 GMT, the MSCI world equity index, which tracks shares in 50 countries, was up around 0.1% on the day, struggling to recover from last week's lows. Europe's STOXX 600 was down 0.2%, while London's FTSE 100 was down flat. US stock index futures pointed to a … [Read more...] about Stock markets struggle as fears over economy grow