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Share to Twitter Share to Linkedin The use of Artificial Intelligence (A.I.) technology has a disparate impact on people of color across various sectors, that’s now changing in the beauty and haircare space thanks to Parfait , an A.I. wig customization platform. The company’s CEO and Co-Founder Isoken Igbinedion aims at disrupting the industry by being the first to use facial recognition and A.I. to provide buyers with customizable wig products. With the global market for facial recognition set to hit a valuation of $11.6 billion in 2026 , Parfait has positioned itself to be a leading player in the tech and hair sectors, by bringing together the love of wigs and racial integrity. The Breakdown You Need To Know: The wig and extensions market is expected to hit $13.2 billion by 2026 , according to a report published by Research and Markets. Parfait raised $5 million in funding spearheaded by Upfront Ventures, Serena Ventures, along with investment … [Read more...] about Parfait’s A.I. Wigs Take Aim At $11 Billion Market By Igniting Cultural Capital

Share to Twitter Share to Linkedin 2022 has been a brutal year for investors. Presently, the S&P 500 is down over 16% Year-To-Date (YTD), the Dow is down 12% YTD, the NASDAQ is down an astounding 25% and the Russell 2000 small capitalization index is down 19%. The devastation has been widespread, with a high number of stocks down over 50%. Due to this, the Nasdaq Composite, S&P 500 Growth (SPYG) and Russell 2000 (All and Growth) segments of the market have confirmed their bear market status. The O’Neil methodology tends to use -25% from highs as the threshold for a bear market. Taking the commonly used -20% from highs, the S&P 500 and Russell 2000 Value have also reached the threshold. Only S&P 500 Value and Dow Industrials have not. In our January 28, 2022 Forbes article, we noted that after two consecutive failed Follow-Through Days (FTDs)*, triggered by an undercut of prior established lows, historically (using the S&P 500 since … [Read more...] about Bear Markets & Market Bottoms

Share to Twitter Share to Linkedin The lawn and garden market is projected to reach $26.3 billion by 2020, according to Allied Market Research. Gardening can lift your spirits and help make you feel peaceful and content. Yet, something good for you mentally isn't necessarily good for the environment. The non-organic chemicals in pesticides, herbicides, and fertilizers can be toxic to the environment . Through her capital and deal flow pipeline for early-stage female tech founders, Vinetta Project, Vanessa Dawson started working with consumer packaged goods (CPG) corporations like P&G. Because smaller CPG brands are often better able to address millennial and generation Z consumer demands, established companies are accelerating investment in emerging brands. Farmers and researchers have been developing sustainable ingredients in pesticides, herbicides, and fertilizers. Dawson saw using sustainable ingredients as an opportunity and launched … [Read more...] about How A Female Tech Founder Leveraged Her Skills In The Organic Biological Garden Market

- A + A PETALING JAYA (May 26): Capital A Bhd reported a net loss of RM1.077 billion in the quarter ended March 31, 2022, which was a 10.35% larger loss compared with the corresponding quarter, despite its group-wide revenue more than doubling on a year-on-year basis. The larger losses were attributed to higher operation costs on fuel and maintenance, as well as a share of loss of RM143.1 million from an associate, following the completion of the restructuring and recapitalisation plan of the associate, the group stated in its financial result announcement on Thursday (May 26). Consolidated revenue of the group during 1Q2022 was RM812 million, which was 153% higher y-o-y, as aviation revenue grew 226% y-o-y to RM601 million off the back of the improved demand during the festive season together with the further easing of travel restrictions during the quarter. Capital A saw improvements in all of its businesses during the quarter under review on a y-o-y basis. Its … [Read more...] about Capital A’s net losses widen in 1QFY22 despite higher revenue

- A + A WASHINGTON (May 26): The number of Americans filing new claims for unemployment benefits fell more than expected last week as the labour market remains tight amid strong demand for workers, despite rising interest rates and tightening financial conditions. But the outlook for the economy is uncertain, with other data on Thursday showing corporate profits falling across the board in the first quarter. Some economists believe the erosion of profits and falling share prices could force companies to pause hiring or start laying off workers. Several retailers, including Walmart Inc have lowered their full-year earnings forecasts, citing high inflation. Snap, the parent of Snapchat, issued a profit warning this week, sparking a sell-off of social media stocks. "The biggest expense for most companies is labor always," said Christopher Rupkey, chief economist at FWDBONDS in New York. "High-flying tech companies have seen their share prices plummet which will force … [Read more...] about US labour market hot, but declining profits cast shadow over economy

Apple Inc is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry. The company is asking suppliers to assemble roughly 220 million iPhones, about the same as last year, according to people familiar with its projections, who asked not to be named as they’re not public. Market forecasts have hovered closer to 240 million units, driven by an expected major update to the iPhone in the fall. But the mobile industry has gotten off to a difficult start to the year and production estimates are down across the board. The worst inflation in decades, a war in Ukraine and supply-chain turmoil all threaten to weigh on sales in 2022. Strategy Analytics has predicted that overall smartphone shipments will contract as much as 2% in 2022, and TrendForce has twice downgraded its full-year production forecast in recent weeks. IDC and Bloomberg Intelligence analysts both forecast about 240 million iPhones … [Read more...] about Apple to keep iPhone production flat as market grows tougher

- A + A KUALA LUMPUR (May 26): UMediC Group Bhd has received the nod from Bursa Securities and the Securities Commission Malaysia (SC) to list on Bursa Malaysia’s ACE Market. The group is issuing 97.22 million new shares, of which 18.69 million will be made available to the Malaysian public, while 65.44 million will be placed to selected investors. The company markets and distributes medical devices and consumables, with a cumulative market presence of around 20 years. It is also involved in the development, manufacturing and marketing of its medical consumables. UMedIC seeks to raise funds from its initial public offering (IPO) to develop a new factory to expand production and storage capacity, said its executive director cum CEO Lim Taw Seong in a statement. “We not only expect demand for medical devices to continue growing, but also at an increasing rate,” Lim said. “We will do our utmost to capitalise on this opportunity,” Lim added. “Furthermore, we have … [Read more...] about Medical devices distributor UMediC gets SC nod for ACE Market listing

Share to Twitter Share to Linkedin There seems to be a lot of confusion about whether annuities are good or bad. Some of it stems from viewing the product as complex and too time-consuming to study and understand. But I don’t see annuities being any more complicated than other financial products. For example, one type of annuity is simply like a pension, and there’s almost no one who thinks a pension is bad. Annuities are a type of insurance product. By purchasing one, you’re transferring risk to the insurance company just as you do with home, auto, or life insurance coverage. With annuity products, the insurer is assuming some, if not all, of the longevity or market risk and charging a fee doing so. Risk mitigation is common to all types of annuity products, yet they differ markedly in other ways. Variable Annuities When people talk about contract complexity and high fees, they’re usually referring to variable annuities. I find these products are … [Read more...] about Do Annuities Make Sense For Anyone?

The listing transaction includes Lotus Technology. - A + A (May 26): ECARX Holdings Inc, the automotive tech firm backed by billionaire Li Shufu, agreed to go public through a merger with blank-check company COVA Acquisition Corp. in the largest Chinese listing in the US since Didi Global Inc. The deal values the combined company at about US$3.8 billion, according to a statement Thursday, which confirmed an earlier Bloomberg News report. The transaction includes a US$45 million investment from Li’s automobile giant Zhejiang Geely Holding Group Co, Luminar Technologies Inc and Lotus Technology. Geely is an existing investor in ECARX. ECARX would be the largest Chinese company to list in the US following Didi’s spectacular failure. The ride-hailing giant is set to delist from the New York Stock Exchange after proceeding with its IPO last June over Chinese regulators’ objections and becoming a victim of the country’s cybersecurity crackdown. Didi has lost about … [Read more...] about Tycoon SPAC deal to create China’s biggest US listing since Didi

Share to Twitter Share to Linkedin Tucked away in Chelsea Market lies a mecca of Asian goods— Pearl River Mart . Upon stepping inside the inviting Asian American emporium—the world’s first of its kind—you would never guess its activist origins. Part of the first wave of immigrants that followed the lifting of immigration quotas in the mid-20 th century, student activists Ming Yi And Ching Yeh Chen created Pearl River Mart in 1971 to fill the gap of Chinese goods in New York City. Their store became the place for the Chinese diaspora to find their favorite staples—from ginseng to porcelain tea sets. But more importantly, it was a site of belonging filled with reminders of home. Five decades later and Pearl River Mart has grown into a New York City institution as a steward of Asian American culture. But their growth has not been without its challenges—in its over 50-year-old history, Pearl River Mart has moved its flagship store five times due to … [Read more...] about How Pearl River Mart Champions Asian American And Pacific Islander Representation