Share to Twitter Share to Linkedin Key News Asian equities were a sea of red on light volumes as South Asia held up slightly better than North Asia following the US equities meltdown yesterday. After the Hong Kong close, Alibaba and Softbank issued statements after the latter reduced their position in the former to 14.6% from 23.7% by selling 242 million shares via derivative contracts. Basically, Softbank wrote/sold an in the money call to investment banks allowing the company to collect the proceeds and book a $34 billion gain. The banks would hedge themselves as they effectively sold the shares in the market. The key is Softbank said they wouldn’t do this again alleviating the risk of more shares being sold i.e. an overhang on the stock. Similar to what’s happening to Tencent as Prosus keeps selling shares but no guidance on when it will end. China’s July CPI was 2.7% versus an expected 2.9% and June’s 2.5% was driven by high pork prices while PPI was … [Read more...] about Alibaba’s Softbank Overhang Clarified As Foreigners Fret
Real estate just sold cards
This article first appeared in City & Country, The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. The Zhongshan Building, which was built in the 1950s, has been restored at a cost of RM1 million and now houses an arts and research community (Photo by Patrick Goh/The Edge) - A + A Kuala Lumpur is an amazing city. The mix of old and new buildings juxtaposed with pockets of greenery presents a tropical feel that only a few cities can boast of. As the city moves with the times, what is to be done to the older buildings? Should they be replaced with something sparkling new? Or should we consider the historical value they bring to the landscape? City & Country asks property experts about the practicalities of upgrading these old properties — be it through converting, refurbishing or rebuilding. “This is a very interesting and evergreen topic, where all developers or landowners would like to know what to do with their old buildings when they … [Read more...] about Is it worth upgrading KL’s old buildings?
Share to Twitter Share to Linkedin Key News Asian equities were largely higher on light volumes. Japan and Hong Kong were off slightly while India (Moharram), Pakistan (Ashura), and Singapore (National Day) were closed for the holiday. Tomorrow we have the highly anticipated July CPI print. I am referencing China's CPI, which is expected to be 2.9% (tongue in cheek). As an FYI, that other CPI print tomorrow in the US is expected at 8.7%. Taiwan is dominating the headlines as it's summertime, and nothing else is happening. Am I worried? No, as CNH, China's currency, and Chinese Treasuries are significant risk indicators that aren't freaking out, so nor am I. Also, check out FlightRadar24.com, as you'll notice a lot of flights into and out of Taipei's airport! Hong Kong's most heavily traded stocks by value were Tencent -0.47% as Prosus continues to sell shares to fund its buyback, Alibaba HK +0.9% following their filing with the Hong Kong Exchange to make … [Read more...] about GM Outsells Tesla In July As Semiconductors & Clean Tech Outperform
Share to Twitter Share to Linkedin CEO and Executive Creative Director at Tribe, Inc ., working with national and global brands to build employee engagement. Financial challenges can cause stress for employees, and that stress may impact their ability to be engaged at work—as well as their overall well-being. According to PwC’s 2022 Employee Financial Wellness Survey , the fact that everything costs more these days is a top concern for 20% of respondents. In addition to negatively impacting some employees’ productivity and attendance at work, the survey found that money concerns are also chipping away at employees’ sleep, self-esteem and relationships at home. What’s more, they’re reluctant to ask for help with financial issues. In PwC’s study, 41% of financially stressed employees said they were embarrassed to ask for help with their finances. You probably already offer several benefits that support financial wellness, from employee … [Read more...] about Financial Wellness For Employees: Addressing Five Questions That Could Be Causing Them Stress
Share to Twitter Share to Linkedin SINGAPORE (August 11, 2022) – The combined wealth of tycoons on the 2022 Forbes’ list of Philippines’ 50 richest fell to US$72 billion from $79 billion last year, amid the country’s recovery from pandemic headwinds. More than two-thirds of the listees saw their wealth shrink. The complete list can be found here and in the August issue of Forbes Asia . The Philippines’ economy grew 8.3% in the first quarter of 2022, as domestic demand started recovering from the pandemic. Newly elected president Ferdinand “Bongbong” Marcos Jr. pledged to keep up the growth momentum. Nonetheless, the pressures of inflation, rising commodity and energy prices as well as reduced exports to China dragged the benchmark stock index down 6% from 11 months ago when fortunes were last measured. The Philippine peso also plunged 12% over the same period. The Sy siblings, heirs to the group built by the late Henry Sy Sr., retain the top spot but … [Read more...] about Wealth Of The Philippines’ 50 Richest On Forbes List Drops Despite Economic Recovery
Share to Twitter Share to Linkedin Topline A jersey worn by basketball legend Michael Jordan during the 1998 NBA Finals—a season documented in the hit 2020 ESPN docuseries The Last Dance— could sell for as much as $5 million when it’s put on the block next month, auctioneer Sotheby’s expects. Key Facts Jordan wore the No. 23 red “away” jersey during Game 1 against the Utah Jazz, which was played in front of an “extremely hostile” Salt Lake City home crowd, Sotheby’s said. A clip of Jordan dancing on the Bulls’ bus to R&B crooner Kenny Lattimore just before the game showed how Jordan kept his cool throughout his career, the auction house said, and was one of most memorable scenes in The Last Dance series. While the Bulls lost the game, Jordan played for 45 minutes–the most time he spent on the court in any Finals, Sotheby’s said–and scored 33 points. The Bulls ultimately won the title, Jordan’s sixth, and he cadged his sixth … [Read more...] about Michael Jordan Jersey From ‘The Last Dance’ 1998 NBA Finals Up For Auction
For the past year or so, we’ve been told the future of the internet is in the metaverse : a persistent, immersive, multiplayer, interoperable world that blurs the lines between the physical and digital. In reality, this vision of the metaverse is likely a long way away. According to Intel , realizing its potential will require an overhaul of the “entire plumbing of the internet.” advertisement advertisement While it’s uncertain to what extent we’ll achieve a metaverse akin to the world of Spielberg’s Ready Player One , it’s clear that the internet of the future will be far more immersive than that of the past. Two front-runners to define this vision of the future have emerged, with very different ideas of what it might look like: Meta and Microsoft. But who will come out on top? This immersive vision of the internet—with whole new worlds to get lost in that continue to evolve even after you’ve quit—is not a novel concept. Gamers have been … [Read more...] about Microsoft vs. Meta: Who’s got the upper hand in the metaverse?
Shopping carts outside a Bed Bath & Beyond store in Louisville, Kentucky, U.S., on Saturday, Jan. 2, 2021. Bed Bath & Beyond Inc. is scheduled to release earnings figures on January 7. Retail traders who lurk in forums like Reddit’s WallStreetBets are back to betting against Wall Street pros and the Federal Reserve as rallies for meme stocks like Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. show shades of last year’s mania. The home-good retailer nearly tripled at one point during its nine-day winning streak while the movie-theater firm capped a 65% rally of its own as speculative pockets of the stock market surge. The pair have powered a basket of 37 meme stocks tracked by Bloomberg higher by 10% over the past week while the most-hated stocks tracked by a Goldman Sachs Group Inc. basket is up roughly 17% over the same period. The resurgence of more speculative areas of the market is likely fueled in part by individual traders willingness to jump … [Read more...] about Meme-stock frenzy returns, baffling Wall Street’s ‘smart guys’
ILLUSTRATIONBY RUTH MACAPAGAL There are fundamental concepts in marketing that remain relevant despite technology and changing consumer behaviors. This is important since what we know strongly influences what we do. Marketers (and entrepreneurs) need not wait for the consequences of a wrong action to influence new knowledge. Here is a list of five concepts marketers should look into to check if they have the right understanding of the business of marketing. 1. Needs and wants of the customers have to be identified First, most customers don’t even know what they actually need or want. They may know what they dislike but when it comes to new product design, it is still the domain of a company’s technical group, usually influenced by the company’s visionaries. For example, would the idea of an electronic blood pressure monitor come from hypertensive patients? Unlikely. The most they can do during the dominance of the manual blood pressure monitor era is to cite the pain points … [Read more...] about 5 marketing concepts that need to be reexamined
Football’s top ten earners are demolishing records, hauling in a combined $489 million as the world’s most valuable sports league continues its ascent. H is résumé is unparalleled, with seven Super Bowl titles and all-time passing records from completions to yards to touchdowns. Yet as Tom Brady heads into his 23rd professional season, the 45-year-old Tampa Bay Buccaneers quarterback is adding a new accolade: For the first time since Forbes began publishing a ranking of the NFL’s highest-paid players in 2010, he leads the list. Having given the New England Patriots discounts on his contracts for much of his career, Brady has never been higher than No. 2 on Forbes’ annual NFL earnings leaderboard. And he came in second for the first time just last year when, in his second season with Tampa Bay and with a new commitment to his endorsement portfolio, he landed behind the Dallas Cowboys’ Dak Prescott, whose $87 million in 2021 beat out Brady’s $72.5 million. This … [Read more...] about Highest-Paid NFL Players 2022: Tom Brady Leads The List For The First Time