Stock market last 5 years

- A + A BENGALURU (May 19): The Philippine peso firmed on Thursday after its central bank raised rates for the first time in more than three years, while Asian shares tumbled on concerns around surging inflation, its impact on retail demand, and the threat of a recession. Stocks in Manila fell 1%, while the Philippine peso edged up 0.2%. The Philippine central bank raised its benchmark interest rate by 25 basis points, as expected, to address rising inflationary pressures. "With the recovery in hand and price pressures surging, Bangko Sentral ng Pilipinas (BSP) finally decided to join the rate-hike club... The bigger development was the quick walk-back of pandemic support with BSP closing the provisional advance and tweaking the bond purchase window," said Nicholas Antonio Mapa, senior economist at ING. Equities in the region also tracked weakness on Wall Street overnight as retail giant Target Corp warning of a bigger margin hit due to rising fuel and freight … [Read more...] about Philippine peso firms after rate hike, Asian stocks fall on growth fears

A super slide for stocks, bonds, and cryptocurrencies rolled all the way into last week, right up until Friday, when the Nasdaq posted its strongest one-day gain since November of 2020. Despite Friday's gains, the major averages posted losses for the week, with the Dow closing down more than 2% and posting its first seven-week losing streak since 2001. The S&P 500 fell 2.5% and hit its longest weekly losing streak since 2011, while the Nasdaq fell 2.8%. It's been a rough, rough year across capital markets. A full $35 trillion in global market value has been erased since the beginning of the year. That's 14% of all global wealth, including a trillion dollars of losses in cryptocurrencies. To put those losses in perspective, 2008 saw a 19% decline in global market value, and that doesn't include non-financial assets such as housing. Still, perspective is everything, especially for investors who have been invested in the U.S. stock market for at least five years. Believe it or not, … [Read more...] about Keeping it Real with Real Vision’s Raoul Pal

- A + A LONDON (May 19): Heavy falls in European and Asian stock markets followed Wall Street's worst day since mid-2020 on Thursday, as stark warnings from some of the world's biggest retailers underscored just how hard inflation is biting. Bond markets rallied in the dive for safety and on bets that interest rate rises may get recalibrated, but it was the gloom striking down equities after Wednesday's US$25 billion wipeout in US retailer Target's shares that dominated the action. Europe opened down 1.8%, led by a 2.2% fall in its retail sector, while scarlet red US futures and some sharp overnight drops in China tech firms put 1½-year lows back in focus for MSCI all-country world. "Target and Walmart coming out with disappointing numbers has really, really spooked people," said Close Brothers Asset Management's Chief Investment Officer Robert Alster. "We are going to see a raft of downgrades to US GDP (forecasts) now... it really looks like we are running into … [Read more...] about Shares slump as retailer warnings fuel stagflation fears

Examples of Art Deco architecture in Mumbai include the Chhatrapati Shivaji Terminus, Eros Cinema, the Bombay High Court, the Gateway of India and at least 35 buildings along Marine Drive. (Image: Md Mahdi via Unsplash) Mumbai is a city of dreams and shocking realities. And in-between Bollywood bling and bumper-to-bumper traffic are oodles of art, heritage, culture, mystery and sumptuous food. The best way to get to know Mumbai is to get out and explore. Luckily, we have some experts who can shine a light and show us the city as we have never seen it before. Here some of the best offbeat tours of Mumbai: Grisly Girgaon walk by Khaki Tours Dare to venture into the haunted lanes of Mumbai and become a ghost buster? Then join this walking tour around Girgaon in south Mumbai. Organised by Khaki Tours, the 2-hour walk takes participants on a exploration of the old buildings and graveyards which come alive through the stories associated with them. “My maternal side of the … [Read more...] about India heritage tours | Unusual things to do in Mumbai

The lifespan of companies is shrinking – to 18 years now from 90 years in 1935, says Shiv Shivakumar, group executive president, corporate strategy, at the Aditya Birla Group. In an interview with Moneycontrol , he said in the future, some legacy companies and those that have been around for 10-15 years will likely be bought over or close down. Shivakumar, who recently wrote a book on career and management titled The Art of Management, said employee loyalty no longer exists and the contract between a company and an employee is now very short. The only thing that’s permanent is learning and the ability to look ahead. Managers must communicate at all times, advises Shivakumar, who was formerly chairperson of PepsiCo Holdings in India and CEO of emerging markets at Nokia. The young workforce will not respect age – they will respect relevance and impact, he said in the emailed interview. Edited excerpts: You’ve said in your new book that careers have changed … [Read more...] about MC Interview | Employee loyalty doesn’t exist, the contract between a company and employee is now very short: Shiv Shivakumar

- A + A KUALA LUMPUR (May 19): Bursa Malaysia snapped a three-day winning streak to end in the red on Thursday (May 19), dragged by selling in selected heavyweights led by Press Metal Aluminium Holdings Bhd and Public Bank Bhd. Press Metal gave up 20 sen to RM5.08 and Public Bank fell four sen to RM4.57, with both stocks contributing a combined 4.203 points to the loss in the composite index. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 5.5 points or 0.35% to 1,549.41 from Wednesday's close of 1,554.91. The benchmark index, which opened 4.67 points easier at 1,550.24, moved between 1,545.02 and 1,554.53 throughout the day. Market breadth was negative with decliners outnumbering advancers 692 to 272, while 380 counters were unchanged, 925 untraded, and 22 others suspended. Total turnover dwindled to 2.69 billion units worth RM2.23 billion from 3.74 billion units worth RM2.25 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity … [Read more...] about Bursa Malaysia snaps three-day winning streak to end lower

Share to Twitter Share to Linkedin (Photo by Jessica Rinaldi/The Boston Globe via Getty Images) Billionaire casino magnate Steve Wynn resigned from his eponymous company, Wynn Resorts, on Tuesday evening amid a swirl of sexual misconduct allegations. The decision to distance himself from the company comes after dozens of people who have worked for him in the last several decades have come forward with claims of inappropriate behavior. "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity," said Wynn, 76, in a statement. "As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles." Wynn, who is behind many of Las Vegas' most iconic properties such as The Mirage, Treasure Island and Bellagio, has denied the allegations and … [Read more...] about Billionaire Steve Wynn Resigns As CEO Amid Sexual Misconduct Allegations