Jitters deepen market slide

Share to Twitter Share to Linkedin NFT platform OneOf has announced the release of The Sky’s the Limit: The Notorious B.I.G. NFT Collection on July 26th. The first-of-its-kind NFT collection is being done in partnership with the Christopher Wallace estate . The collection will aim to honor Notorious B.I.G. as one of the most influential rappers of all time. The collection will feature 3D avatars inspired by his life and work, and will uniquely include the right for each NFT holder to collectively license the audio of Biggie Smalls’ most famous freestyle, filmed on a street corner in Brooklyn when he was 17. Until now the freestyle has never been officially released or made available for other musicians to sample and use in their songs. With the approval and oversight of the collective (and estate), musicians will be able to license Smalls' iconic freestyle and include it in their own recordings. The song can also be released on music streaming … [Read more...] about The Notorious B.I.G. Collection And The Marketing Of NFT Campaigns

Share to Twitter Share to Linkedin The Oklahoma mogul spoke to Forbes about how he's protecting his investments ahead of the “near certainty” of a recession. With the S&P 500 entering a bear market last week , many of America’s billionaires are convinced that a recession is in the offing . George Kaiser , one of the wealthiest people in Oklahoma with an estimated $9.5 billion fortune, is one of them. Kaiser, 79, told Forbes that a “recession seems a near certainty” and that he expects the economy to tip into a downturn in the first two quarters of 2023, with a prolonged dip in the stock market. The timing of the market bottoming out—the point at which the stock market hits a low and begins rising again—is still far off, according to Kaiser. “Historic analogies would suggest a 35% total drop from the peak, but that history is largely irrelevant since so many of the factors are unique,” he said. Kaiser, who has appeared on the Forbes … [Read more...] about Oil And Banking Billionaire George Kaiser Says Market Bottom Is Still Far Off

Share to Twitter Share to Linkedin Stocks continued their descent last week, with the S&P 500 now well into bear market territory at -23% from the high. While most define bear markets as a decline of 20% from the high, some pullbacks just kiss that level or don’t result in widespread carnage across all sectors. What we saw last week certainly qualifies the current situation as a “real” bear market. First, the S&P 500 was down almost 11% during the previous two weeks. Secondly, all sectors participated in the sell-off. Whether it is “profit-taking” or “selling what you can rather than what you want to,” this indiscriminate liquidation is the hallmark of a bear market. For example, energy stocks, which had been almost impervious to the market weakness this year, declined 17% last week! That still leaves energy up 31% and the only sector in the green year-to-date. Utilities, which were only slightly lower before last week, underperformed the market over … [Read more...] about Welcome To The Real Bear Market

The larger job market in India remains buoyant across sectors – even amid layoffs by a clutch of startups in recent months – and employees will generally continue to call the shots through FY23. “We see FY23 to remain an employees’ market with some amount of adjustments. Employees still have the bargaining power, opportunities and enjoy the benefit of demand,” said RP Yadav, chairman of Genius Consultants, a staffing and human resource company. While information technology and IT-enabled services will continue recruiting, e-commerce, logistics and export-oriented sectors including textiles and leather goods are doing well in terms of hiring. The consumer goods sector will increasingly do well, as will the retail and hospitality segment, according to staffing firms, HR experts and talent managers. The near-normal level of economic activity in retail and hospitality is indicative of a revival in these sectors after a prolonged phase of weakness due to the pandemic and offers a … [Read more...] about Amid startup layoffs, larger job market remains buoyant across sectors

Nilekani, in his Chairman’s address, stressed on the company’s One Infosys Approach, saying it helped the company deliver its fastest growth in a decade. Challenges such as slowing growth, supply chain disruptions, soaring inflation, rapidly rising interest rates, and fears of a recession present an opportunity to transition to new ways to gain market share, Infosys Chairman Nandan Nilekani said on June 25. Addressing shareholders at the company’s 41st Annual General Meeting, Nilekani said, corporate leaders are having to deal with challenges in a post-pandemic world, and along with the above challenges, there is potential to help them. The AGM’s agenda — along with approving of financial statements — also included the reappointment of CEO Salil Parekh and the approval of his new compensation. Salil Parekh’s proposed compensation, for his second term till March 2027, is Rs 79.75 crore annually, up 88 percent from FY22. Shareholders approved his salary hike, making him one of … [Read more...] about Challenges present opportunity for Infosys to gain market share: Nandan Nilekani

KUALA LUMPUR: Australia’s Foreign Affairs Minister Penny Wong ( pic ) will visit Malaysia on Tuesday to deepen ties and build on existing partnerships. The Sabah-born minister is scheduled to meet her Malaysian counterpart Datuk Seri Saifuddin Abdullah as well as two Senior Ministers – Defence Minister Datuk Seri Hishammuddin Hussein and International Trade and Industry Minister Datuk Seri Azmin Ali – during her visit. ALSO READ: Aussie minister keen on her homecoming “I will reaffirm our commitment as Comprehensive Strategic Partners and discuss economic recovery, climate action, education ties and health security,” she said in a statement posted on the official website of Australia’s Foreign Minister, Bernama reported. The 54-year-old said she would also travel to Sabah, adding that it was a region having long-standing ties with Australia. “It is the region where I am from. Having spent my early years in Kota Kinabalu, I look forward to the great honour of returning … [Read more...] about Mission to deepen Aussie-M’sian ties

Share to Twitter Share to Linkedin Markets are down, but blockchain companies can still attract capital at sky-high valuations. In the latest example, Ethereum developer StarkWare has raised a $100 million Series D round at an $8 billion valuation. Led by Greenoaks Capital and Coatue, the round closed last week, just six months after the company’s Series C raise, which valued StarkWare at $2 billion. Other investors include Tiger Global, Paradigm, Three Arrows Capital and Sequoia Capital. “We closed this deal in the thick of a bear market for crypto, highlighting the strength of investor confidence in StarkWare scaling,” says Uri Kolodny, StarkWare’s cofounder and CEO. The Tel Aviv, Israel-based company uses zero-knowledge (ZK) rollup technology to improve Ethereum’s efficiency without sacrificing security or decentralization. It involves a computationally-intensive process, which instead of adding transactions to the blockchain one by one, bundles … [Read more...] about Ethereum Scaling Company StarkWare Quadruples Valuation To $8 Billion Amid Bear Market

A fire consumes shophouses in the Sampheng community near Yaowarat, Bangkok's Chinatown, on Sunday. (Photo: @EasternFire2016 via @fm91trafficpro Twitter accounts) A fire broke out near Sampeng market on Ratchawong road leading to the Ratchawong boat pier in Bangkok's Samphanthawong district. One person was reportedly killed, according to media reports. Initial reports said a power transformer at a three-storey commercial building exploded at about 11.25am. Traffic Police radio station tweeted that six people, most likely firefighting volunteers, suffered smoke inhalation and were admitted to Klang and Hua Chiew hospitals for treatment. The fire was brought under control at about noon but was still under watch. A fire in the Sampheng community near Yaowaraj. Firefighters are able to control the blaze, according to @fm91trafficpro . A number of shophouses were damaged. #BangkokPost #Bangkok #Thailand https://t.co/rjLXuqLWLv — Bangkok Post (@BangkokPostNews) June … [Read more...] about Fire hits Bangkok’s Sampeng market, 1 killed

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of online gaming company Nazara Technologies surged 20 percent intraday on June 24 after the stock adjusted for the bonus issue. The stock was trading at Rs 614.25, up 17.92 percent against the previous close of Rs 520.90, at the time of writing this report. On May 13, Nazara announced the bonus issue in the ratio of one equity share for one equity share held by shareholders as on record date. Hence, the previous closing price of the stock halved to Rs 520.90, against Rs 1,041.80 earlier. The record date for the bonus issue has been fixed as June 27, which means a person having a share of Nazara Technologies by the closing of June 27 is eligible to get a bonus share. After hitting the lowest point since listing, the stock has rebounded. Its lowest closing was Rs 500.38 on June … [Read more...] about Nazara Technologies shares spike 20% as stock trades ex-bonus

Wall Street, New York City (File image: Reuters) From 1999 to 2019, I managed money for some of the largest hedge funds in the world ( Millennium, Brevan Howard, ExodusPoint ). During that time, I generated positive returns for 103 consecutive months, which is quite possibly the longest such streak in hedge fund history. This extraordinary feat was made possible by my strict adherence to three key principles. First, I made sure that I had a method that turns the odds in my favour. Second, I had the discipline to stay with that system in good times, and bad times. Finally, it is vital to play with a bankroll that is large enough to ride out market fluctuations. Lose any one of these three things, and it becomes impossible to beat the market for any length of time. Have A System : As a professional gambler who accidently landed on Wall Street way back in 1993, I have always had a keen sense of the odds in any game. I played blackjack because it is the only game where a … [Read more...] about How I beat Wall Street for 103 consecutive months