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Share to Twitter Share to Linkedin Andrew Yang has a modest dream. “Flexpwr wants to power every single business that wants to bring the next generation of shopping experiences to consumers,” he said. “That’s how we decided to be the infrastructure and power for Live Rocket and all the shopping events it’s doing. I was definitely surprised that it was so successful. I remember when they told me that it was becoming the largest live shopping event ever. I was very shocked at how powerful the format is.” Here are some stats that underscore Yang’s optimism: “80% of customers are watching live streams from their mobile phones. People are very engaged with this new format built around live shopping,” Yang explained. “Pretty much every single product sold out right away. That’s way better compared to the traditional kind of web site and the traditional ecommerce experience. “The consumer is very engaged, and people are spending almost 5 to 7 minutes on the site … [Read more...] about Amazon.com’s Flexpwr Wants To Power Short-Form TV, Film And Video Commercials Seen By Fans

When you’re hiring new candidates, how much do you prioritize cultural fit? Your answer to this question may depend on whether you’d consider your company’s culture a broth or a gumbo. advertisement advertisement A broth has exactly one consistency and flavor, while a gumbo features distinct ingredients, each one retaining its unique flavor while contributing perfectly to the overall taste. In my years within the DEI space, I’ve observed quite a few companies adopt a “broth” recruiting approach, vetting candidates based on how seamlessly they believe they’ll fit into their existing corporate culture. Ideally, this practice should revolve around assessing how well candidates align with a company’s values and vision. In reality, it may mean something more arbitrary—using the same jargon and lingo, laughing at the same jokes, adopting the “right” business casual look, etc. Some diverse candidates do check these boxes but many others do not—and their … [Read more...] about When the push for ‘cultural fit’ creates a DEI blindspot

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

COLOMBO (Reuters) -Sri Lanka will allow companies from oil-producing countries to import and sell fuel, the power and energy minister said on Tuesday, ending a duopoly as it tries to overcome a shortage of petrol and diesel that is exacerbating an economic crisis. The Cabinet decision came as the minister, Kanchana Wijesekera, headed to Qatar and a ministerial colleague was due to arrive in Russia on Sunday for talks on energy deals. Sri Lanka is suffering its worst economic crisis since its independence, with foreign exchange reserves at a record low of $1.92 billion, according to the Central Bank, though analysts estimate a lower level of useable funds. The island of 22 million people is struggling to pay for essential imports of food, medicine and, most critically, fuel. The government closed urban schools for about two weeks from Tuesday and allowed fuel supplies only to services deemed essential like health, trains and buses as stocks would only last only a week or so … [Read more...] about Cash-starved Sri Lanka to end fuel duopoly to ease shortages

Fred Hu, chairman of Primavera Capital Group, poses for a photograph following a Bloomberg Television interview in Hong Kong, China on Monday, Sept 16, 2019. (Bloomberg filepix) - A + A (June 28): The founder of one of China’s biggest private equity investors said the nation’s tech firms are turning a corner after a recent rout wiped out nearly US$2 trillion in market value at its peak. Fred Hu, the former Goldman Sachs Group Inc rainmaker who started the US$17 billion Chinese private equity firm Primavera Capital, said reassuring messages concerning regulation, resilient earnings and beaten-down valuations now make the sector interesting for investors. “This could be the beginning of a new era for China tech,” Hu, the firm’s chairman, said in a recent interview. “There’s a lot of value to be discovered,” he said, adding that investors still need to be selective given the high risk profile of such companies. The private equity mogul’s views are one of the … [Read more...] about One of China’s top tech investors sees crackdown turning point

- A + A KUALA LUMPUR (June 28): The High Court on Tuesday found a policeman to be liable for unlawfully detaining an activist for 16 days and ruled that due to his actions, the Inspector-General of Police and the government are both vicariously liable to pay for damages to the activist, R Sri Sanjeevan, chairman of the Malaysian Crime Watch Task Force (MyWatch). Sri Sanjeevan was held by the authorities under the Prevention of Crime Act 1959 (Poca) in July 2016 for an alleged investigation into extortion claims made against him. Justice Datuk Ahmad Bache said the exemplary and general damages Sanjeevan is due will be assessed later by the court following affidavit evidence to be submitted to his deputy registrar later. Justice Ahmad also advised the government, represented by senior federal counsel Norfauzani Mohd Nordin, to consider settling an issue out of court in the future if it does not have a strong case, rather than letting the matter go to trial and … [Read more...] about Govt, police found liable for unlawfully detaining MyWatch activist for 16 days

Bloomberg filepix for illustration purpose only - A + A KUALA LUMPUR (June 28): The Memorandum of Cooperation (MoC) signed last month between Malaysia and Japan will see Malaysian workers going to Japan for work and to hone their skills further, so that they can contribute to the local labour market upon their return. Japanese Ambassador to Malaysia Katsuhiko Takahashi said the MoC did not mean that Japan is going to absorb labour from Malaysia. “The basic idea of the programme (MoC) is to make them work in Japan for a specific period of time (around three to five years), among others in the hospitality and agriculture sectors. Usually, after gaining skills, those Malaysians will come back to the local labour market. “This (programme) is not a system to absorb labour forces from Malaysia to Japan, but this is rather a value-added quality and journey where we provide them training and encourage them to come back and serve their own country,” said Takahashi … [Read more...] about Japan-Malaysia’s MOC to better equip skilled workers for labour market, says envoy

- A + A KUALA LUMPUR (28 June): The Malaysian Bar, who is objecting to Datuk Seri Najib Razak's bid to hire a lawyer from the United Kingdom for his final appeal in the SRC International corruption case, has said that the former prime minister's current lawyer Tan Sri Muhammad Shafee Abdullah is more experienced and qualified to lead the appeal. In an affidavit against Najib's bid to appoint Queen's Counsel (QC) Jonathan Laidlaw to handle his appeal at the Federal Court, Bar Council secretary Anand Raj said that there are 21,659 advocates and solicitors in Malaysia who are in valid possession of a "Sijil Annual and Practicing Certificate". "Local advocates and solicitors have the requisite expertise and experience in the various aspects of the law and jurisprudence in respect of the appeal and any other cause or matter related thereto," he said. Anand said that Laidlaw does not have the experience of practising in the country's local courts and he would need to … [Read more...] about Malaysian Bar: Shafee more qualified than Queen’s Counsel to lead Najib’s SRC appeal

- 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

G7 leaders gathering for lunch at the Schloss Elmau hotel in Elmau, Germany on Monday (June 27). The G7 leaders have also agreed to take a more coordinated approach to challenging China's 'market-distorting' practices in global trade. (Photo by Susan Walsh/Pool via Reuters) - A + A SCHLOSS ELMAU (June 28): The Group of Seven (G7) economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday. "We invite all like-minded countries to consider joining us in our actions," the G7 leaders said in the communique. The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps. The G7 is looking at price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, taking the sting out of Western … [Read more...] about G7 agrees to explore cap on Russian oil price — communique