What does it take to trigger a crash in the stock market? A once-in-a-century pandemic? The biggest war in Europe in 70 years? The US Federal Reserve instantaneously cutting off the supply of the opium of record liquidity and low interest rates? Multi-year high inflation? How about black magic? The Oxford Dictionary defines black magic as a type of magic that is believed to use the power of the devil in order to do evil. In a world where boring financial data, profit and loss statements, and complex macroeconomic events sway the everyday movement of stock prices and stock indices, one Rajkot-based stockbroker claimed last week that he spent more than Rs 8 crore to engineer a multi-day crash in the stock market with the help of esoteric black magic. Close “We are responsible to a great extent for today’s fall and the fall of the past few days in the market. You won’t believe it, but we have spent over Rs 8.5 crore today in kala jadu (black magic) to create … [Read more...] about A lone bear, black magic and a $235 billion stock market crash
Sun bear vs bengal tiger
Walmart Q1 FY2023 Earnings Report Preview
Key Takeaways Analysts estimate adjusted EPS of $1.48 vs. $1.69 in Q1 FY 2022. U.S. comparable sales (excluding fuel sales) are expected to rise YOY, but at less than half the pace of the same quarter a year ago. Revenue is expected to barely increase for the second straight quarter as the boost from the pandemic continues to wear off. Walmart Inc. ( WMT ), one of the world's biggest retailers, enjoyed unusually strong earnings and revenue growth during the past two years. The key driver was consumers who changed their buying patterns in several ways during the pandemic. Walmart's e-commerce sales soared as people sheltering at home boosted their shopping online. And consumers also spent more on manufactured goods as they spent less on dining out and traveling. But these pandemic-related forces are beginning to lose momentum. As a result, Walmart's growth has begun to slow sharply. Investors will be watching whether Walmart can reverse its slowdown in growth when … [Read more...] about Walmart Q1 FY2023 Earnings Report Preview
China says senior Central Bank official under investigation
- A + A (May 18): A former senior official from the Chinese Central Bank is under investigation for “suspected serious violation of laws and discipline,” the Communist Party’s anti-graft watchdog said. Sun Guofeng, who was removed from his post as head of the monetary policy department in May, is under disciplinary investigation, the Central Commission for Discipline Inspection said in a statement Wednesday. At least 40 financial sector officials have been probed or penalized since the latest corruption crackdown on the sector was launched in October. The top disciplinary watchdog sharply criticized the People’s Bank of China among more than two dozen financial regulators, state banks, insurers and bad debt managers in February, saying the agencies had gaps in their work to implement the Party’s major strategy. Born in 1972, Sun joined the PBOC in 1996 and has spent most of his career in the monetary policy department. He’s been at the forefront of the PBOC’s … [Read more...] about China says senior Central Bank official under investigation
OpenSea is on a new quest to ban copymints, armed with AI, Twitter threads, and Discord chats
When a $70 million NFT sold at Christie’s last spring—a time before Bored Apes, Cool Cats, and Lazy Lions roamed the earth—some scoffed at the fortune spent on computer pixels that could be copy-pasted to your screen for free. But the lot wasn’t just a jpeg, it was the jpeg—and the money went to claim the original work, or the one we would call “authentic.” Take away that distinction, and yes, the file is worthless. advertisement advertisement It’s a high-stakes game that’s rife with fraud, abuse, and theft, and not even the biggest players are immune. But OpenSea, the planet’s largest NFT marketplace, might have a few tricks up its sleeve. This morning, it’s rolling out two products to safeguard the authenticity of collections on its platform. The first streamlines the verification of creator accounts, and the second banishes copymints, or spoofs of existing NFTs, using image recognition. Verified badges are among OpenSea’s so-called … [Read more...] about OpenSea is on a new quest to ban copymints, armed with AI, Twitter threads, and Discord chats
Senate’s ‘seatmates bloc’ continues to expand
Senator Nancy Binay. PHOTO FROM THE OFFICE OF SENATOR NANCY BINAY Five senators belonging to the Senate’s so-called “seatmates bloc” have been joined by four others, including “papa bear” and “mama bear,” in what appeared to be a formidable force forming in the upper chamber. They are now called the “seatmates plus,” Senator Nancy Binay said in an interview over DWIZ on Saturday. “Ako yung plus. Si Senator Loren (Legarda), si Senator (Richard) Gordon at saka si Senator (Cynthia) Villar,” Binay said. The original seatmates are composed of Senators JV Ejercito, Sonny Angara, Juan Miguel Zubiri, Sherwin Gatchalian and Joel Villanueva. Last Wednesday, Ejercito posted on social media his photo with other members of the seatmates bloc and Binay having dinner in an undisclosed location. Asked why they were incomplete in the photo, Binay said: “Oo kasi si Senator Cynthia, di nakasama noon… Mama bear e,” followed by a hearty laugh. (Yes, because Senator Cynthia wasn’t able … [Read more...] about Senate’s ‘seatmates bloc’ continues to expand
Melaka school seeks public help to build multi-purpose hall
MELAKA: Parents of a secondary school here hope to end the suffering of their children gathering under the scorching heat during morning assembly by seeking public help. SMK Gajah Berang (GBS) has been without a multi-purpose hall for a long time and it hopes to get a proper venue for over 1,200 students to be shielded from the hot sun and rain. Chairman of GBS Parents and Teachers Association, Datuk Ng Teng Yau said the attempt to get the hall started over a decade ago. "We have been working very hard for the past ten years to get the hall constructed. "However, the Covid-19 pandemic had caused a hiatus in our efforts to raise funds for the construction of the hall," he said during a press conference at the school on Wednesday (May 18). Ng said the school had raised RM753,241 to date and the total value of constructing the hall is RM2mil. "We left with no choice but to seek the help of the public to help our students. "The hall is also for the purpose of organising … [Read more...] about Melaka school seeks public help to build multi-purpose hall
Parliamentary panel terms drone ‘misuse’ a significant threat, asks MHA to create anti-drone tech
Representative image. While claiming that “drone technology poses a significant threat to governments…”, the Parliamentary Standing Committee on Home Affairs urged the Ministry of Home Affairs to create a pool of anti-drone technology and let all States and Union Territories access it. The committee also sought and received information from several States, including West Bengal and Punjab, regarding the steps taken to deal with drone attacks. These recommendations and inquiries are part of the committee's 237th report on Police — Training, Modernisation and Reforms, released in February 2022. They come at a time when the Indian government has been trying to give the sector a boost through its Drone Rules – 2021, and the more recent PLI Scheme for Drones . In addition, there has also been a growing impetus for the use of drones in varied industries, including agriculture and health (medicine delivery). “The Committee... recommends that the MHA may take up with concerned … [Read more...] about Parliamentary panel terms drone ‘misuse’ a significant threat, asks MHA to create anti-drone tech
How Shanghai residents are using Excel, job skills to navigate lockdown
The huge majority of Shanghai residents who have dodged COVID have not escaped the ordeal of lockdown. China's worst COVID-19 outbreak has frayed nerves and stirred resentment among many residents of Shanghai but some have thrived in the face of adversity, stepping up with bright ideas and commitment to help their communities through the crisis. Not surprisingly, many such people have used the skills they developed in their jobs to help others navigate the frightening new world of forced quarantine and lockdowns that no one dreamed of before COVID. Li Di, a senior executive with a global bank, knew he had to help when he was admitted to the Nanhui quarantine site in April, after testing positive for COVID, and was confronted by chaos. "There were only 120 to 150 staff to take care of 10,000 patients. The staff literally had their hands full," said Li. Li set up a team of more than a dozen volunteers to arrange meals, distribute various supplies and help elderly patients … [Read more...] about How Shanghai residents are using Excel, job skills to navigate lockdown
DOJ Sues Trump Confidant For Not Registering As A Foreign Agent Of China
The Department of Justice is suing the former finance chairman of the Republican National Committee for failing to register as a foreign agent of China, the agency announced Tuesday. The Department of Justice (DOJ) filed a civil enforcement action seeking to compel Stephen A. Wynn , a billionaire hotel magnate and Trump confidant , to register under the Foreign Agents Registration Act (FARA) as an “agent of the People’s Republic of China (PRC) and a senior official of the PRC’s Ministry of Public Security (MPS),” Assistant Attorney General Matthew Olsen announced . The MPS is an agency which reports directly to the State Council of the Chinese Communist Party, according to the agency’s website . The DOJ’s decision comes in response to Wynn’s refusal to register as an agent of the PRC after the department advised Wynn to register in May 2021, according to The Wall Street Journal . “The filing of this suit — the first affirmative civil lawsuit under FARA in more than … [Read more...] about DOJ Sues Trump Confidant For Not Registering As A Foreign Agent Of China
Catastrophic Explosion At Nail Salon Leaves Seven People Injured In Baltimore County
An explosion at a Maryland nail salon injured seven people on Monday after a man allegedly ran into the back of the building and started a fire, the New York Post reported Tuesday. Police stated that a man suffering from emotional distress who was known to the salon staff ran into the back of Libra Nails and Spa, located in Baltimore County, Maryland , and allegedly started a fire prior to the explosion, according to the NYP. In total four police officers, two emergency medical personnel and one civilian were injured in the blast, the outlet reported. Police said the first responders caught by the blast were hospitalized with non-life threatening injuries, according to the NYP. The civilian suspected to have caused the explosion was seriously injured, the outlet reported. (RELATED: Fireball In BYU Dorm: Student Causes Explosion With Homemade Rocket Fuel) #bcofd BUILDING FIRE W/ HAZMAT | 1700 blk Rolling Rd #WindsorMill | CMD advises fire under control | Minor … [Read more...] about Catastrophic Explosion At Nail Salon Leaves Seven People Injured In Baltimore County