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The market value of CEO Elon Musk's electric vehicle (EV) company Tesla Inc. ( TSLA ) has rebounded by almost 92% and $29 billion from its 52-week low on June 3, 2019, on forecasts of rising profits and market share. Moreover, the outlook for Tesla in China, the world's largest vehicle market, may be brightening as would-be competitors face obstacles. To reduce air pollution, China plans to become a world leader in electric vehicles. As a result, dozens of Chinese EV startups have raised over $18 billion, but this may represent a speculative bubble, Bloomberg   reports. Key Takeaways China plans to be a major player in electric vehicles (EVs). Billionaire Chinese tycoons are spending billions in the EV market. However, becoming profitable is an uphill climb. Meanwhile, Tesla has opened its first plant in China. Significance For Investors Among the billionaire Chinese business tycoons who spending big money to become big players in the Chinese EV market … [Read more...] about Why Tesla Is Rebounding as China’s Electric Car Market Faces Shakeout

MANILA, Philippines  -Consunji-led DMCI Holdings Inc. pumped up cash dividends by 50 percent after a rally in commodity prices propelled 2022 profits of the conglomerate to a record high. DMCI said in a stock exchange filing on Wednesday it will pay a total of P9.56 billion in both regular and special cash dividends to stockholders. This was equivalent to 31 percent of core earnings and above the holding company’s dividend policy of paying out 25 percent of the past year’s profits. It is paying a total cash dividend of P0.72 per share common share on April 28 to stockholders on record as of April 27 this year, the filing showed. DMCI, which owns coal and power producer Semirara Mining and Power Corp., earlier said 2022 net income surged 69 percent to over P31 billion. Contributions from units, which include water services, property development, mining and construction, pushed up revenues by 32 percent to P142.6 billion. DMCI said contributions from Semirara last year … [Read more...] about DMCI increases cash dividends by 50% after record profit

Water concessionaire Maynilad Water Services Inc. (Maynilad) on Wednesday said water elevation in La Mesa Dam has been declining in the recent weeks, resulting in less available supply for its concession area. This forced East Zone concessionaire Manila Water Co. Inc. to gradually suspend cross-portal supply sharing with Maynilad, which would lessen water supply for millions of customers and prolong daily service interruptions beginning April 1. According to Maynilad, the Metropolitan Waterworks and Sewerage System (MWSS) will be sending a letter request to the National Water Resources Board (NWRB) for an increased allocation of 52 cubic meters per second from Angat Dam in  April to May. This is so both the Ipo and La Mesa Dams “can fully recover and more raw water is conveyed to the Novaliches Portal.” “With a higher raw water allocation, Manila Water would be more comfortable with sustaining the cross-portal sharing arrangement with Maynilad. It will also increase the volume … [Read more...] about Maynilad warns of declining water supply from La Mesa Dam

Celltrion founder and chairman Seo Jung-jin speaks about his plan for the company during a press conference Wednesday, a day after returning to the management. [CELLTRION] Celltrion is working to further develop its own drug repertoire, not just that of its drug biosimilars. About 40 percent of its annual revenues will come from original drugs in 2030, with the remaining 60 percent from traditional cash cow biosimilar products. These were a few of the plans announced by founder Seo Jung-jin as part of his efforts to help Celltrion shares rebound from its years of being in a slump. Seo was appointed as the co-chairman of Celltrion Holdings and three listed Celltrion companies — Celltrion, Celltrion Pharm and Celltrion Healthcare — during a shareholder meeting Tuesday, after two years after he walked away from the management. His return came upon the request of current management executives as Celltrion shares more than halved from their peak, and shares of Celltrion Pharm … [Read more...] about Celltrion to refine its own drug repertoire to recover from slump

Share to Twitter Share to Linkedin Turkey’s fate hangs on May 14, 2023. On that day, voters will choose between President Recep Tayyip Erdogan’s current populist regime or opt for a new path. These elections impact not just Turkey’s domestic sphere, but global populism as well. Under Kemal Kilicdaroglu’s leadership, the Turkish opposition presents a noteworthy and inventive approach to navigate populist dilemma. This strategy, which I frame as countering populism and polarization through pluralism, achieved success in the 2019 local elections and may triumph once more. President Erdogan, is a seasoned populist. He predates other populist leaders such as former U.S. President Donald Trump, Prime Minister of India Narendra Modi, former Brazilian President Jair Bolsonaro, former British Prime Minister Boris Johnson, former Philippine President Rodrigo Duterte, and Hungarian Prime Minister Viktor Orban. They all boast anti-establishment views, emotional … [Read more...] about Turkish Elections: At The Crossroads Of Populism

Share to Twitter Share to Linkedin Turkey's President Recep Tayyip Erdogan casts his ballot at a polling station in Istanbul, Sunday, ... [+] June 23, 2019. Polls have opened in a repeat election in Turkey's largest city where Erdogan and his political allies could lose control of Istanbul's administration for the first time in 25 years. (AP Photo/Emrah Gurel) For President Recep Tayyip Erdogan, losing control of Istanbul, Turkey's economic and political powerhouse, at the local elections yesterday is a big blow, possibly the most stinging defeat of his political career. If the AK Party hadn't pushed for the cancellation of the March election, it would have been easier to recover from a narrow defeat in Istanbul and several other major cities, including Ankara and Adana. Now, however, after a defeat of a far more significant margin, the ruling party is in a much weaker position. Istanbul's importance The elections have been viewed widely as … [Read more...] about Istanbul Elections: Failure Of Polarising Tactics In Turkey

Share to Twitter Share to Linkedin Key News Asian equities had a good day as Hong Kong outperformed while Mainland China was off slightly. Alibaba led the way as it jumped +12.23% on high volume as analysts updated their sum of the parts analysis (SOTP). Tencent gained +1.75% on high volume and strong buying from Mainland investors, Meituan closed higher by +4.01% on high volume and moderate buying from Mainland investors, JD.com finished at +1.92%, and BYD gained +3.12% on strong financial results and its net income jumping +400% year-over-year in another masterful move from Warren Buffet and Charlie Munger. BYD’s results, which beat on revenue, adjusted net income, and adjusted EPS, lifted the EV space with Xpeng HK +3.64%, Li Auto HK +4.59%, and Nio Auto HK +1.83%. Hong Kong short turnover jumped to 17% of total turnover though short turnover was highly concentrated in three Hong Kong listed ETFs while internet stocks had lower short turnover. … [Read more...] about BYD & Kuaishou Beat

Share to Twitter Share to Linkedin In the NCAA Men’s National Basketball Tournament, March 2023 has been all about upsets. As the tournament heads into its final weekend, the four teams left standing includes perhaps one team, the Huskies of Connecticut, who anyone has heard much about this season. The other teams — Florida Atlantic, San Diego State, and Miami — weren’t expected to sniff the Final Four, much less crash the party. How unexpected is this quartet headed to Houston for the championship: more than 280,000 brackets submitted to ESPN had ALL FOUR teams losing in the first round, so let’s give kudos where they’re due. But surprising results aren’t the source for the best Elite Eight lesson from this year. No, the greatest lessons come from two coaches who lost their games last weekend, Creighton’s Greg McDermott and Kansas State’s Jerome Tang. Simply put, the way they handled their losses offer a masterclass in grace. The Creighton-San Diego State … [Read more...] about NCAA Coaches McDermott And Tang Lose A Game Of Basketball But Win The Game Of Life

Share to Twitter Share to Linkedin Last fall, the top 250 executives of a major, global telecommunications company gathered together for a three-day leadership summit. The summit kicked off with a strong call to action by the CEO. Even with the company’s growth, strong performance, and market dominance, the CEO exhorted the leaders gathered in front of him to work harder and to do even better. Seventy-two hours later, the CEO took the stage again, but this time he delivered a different message. The company would continue to drive performance and deliver results, he shared, but care would be at the core of the company’s strategy. “Performance” and “care” would be intertwined – two vital and necessary elements for the company’s long-term health and viability. Though the speed was remarkable, this kind of pivot was not unique to this CEO. A year ago, we published our research into a human-centered model of leadership in a book called Compassionate Leadership: … [Read more...] about Why It’s Hard, But Necessary, To Be Human At Work

Share to Twitter Share to Linkedin Angry and dismayed Amazon employees are pushing back against the recently-announced return to office policy by the Amazon leadership. Amazon's policy joins other high-profile companies such as Disney, Starbucks, Tesla, Google, and others that are forcing employees back to the office. Some are claiming they need to do so for the sake of productivity. For example, Elon Musk, the CEO of Tesla, claimed that those working remotely only " pretend to work " and are "phoning it in." Others say you need to be in the office to innovate: Disney's CEO Bob Iger demanded the return to the office because "nothing can replace the ability to connect, observe, and create with peers that comes from being physically together." So what explains the situation? As a globally-known expert in the field of hybrid and remote work , I have seen firsthand how working remotely, whether part of the week or full-time, enables worker … [Read more...] about Why Employers Forcing A Return To Office Is Leading To More Worker Power And Unionization