U.S. stocks continued to claw their way back last week, especially growth stocks . For the week, the Nasdaq posted a gain of 2.2% and the S&P 500 rose 0.4%. The Dow? Not so much, sliding just 0.1%. A blowout jobs report for July offered up another dose of good news for the economy and not-so-good news for the stock market, but equity investors hung in there. U.S. employers added 528,000 jobs to their payrolls last month , which was more than twice what was expected, and that added credence to the Federal Reserve 's stance that the U.S. economy is not in a recession given the continued strength of the labor market. So, the thinking goes, the Fed will continue to be aggressive in raising interest rates to cool down inflation, because it's not impacting companies' willingness to hire. That led to a steep selloff in U.S. Treasurys, with the yield on the 10-year Treasury note ending the week at 2.83%. Oil prices continue to tumble, hitting their lowest level since early … [Read more...] about Live from InvestFest with Downtown Josh Brown, BitBoy Crypto, and Lamar Wilson
Valuations in venture capital
Meme stocks are back, BBBY! advertisement advertisement The traders on internet message boards like Reddit’s WallStreetBets are back at it again, as shares of Bed Bath & Beyond have surged almost 100% since last Friday. Shares of AMC Entertainment and even GameStop have seen significant movement too in recent days. But Bed Bath & Beyond has, by far, been the most-mentioned stock on WallStreet Bets over the past 24 hours, according to data from Quiver Quantitative. However, there was another company whose stock was among the most mentioned, and it’s probably one you’ve never heard of: Magic Empire Global (ticker MEGL), a Hong Kong-based finance company that went public on Friday. Magic Empire Global’s shares saw their value skyrocket—from $4 per share to nearly $236 per share, an increase of almost 5,800%. On Monday, the stock ended its magical ride, to a degree, and as of roughly 1 p.m. ET, it was trading at less than $110 per share. … [Read more...] about Magic Empire Global IPO: Wild meme stock frenzy or something else entirely?
Miso head Victor Ching is aiming to replicate his app’s success in home cleaning to sweep up new business at home and overseas. O ver the past seven years, Victor Ching has carved out a niche in the home cleaning space in South Korea with an app called Miso. Though it’s a relatively small market compared to online payments or food delivery, the app, which connects cleaners with clients, is the category leader in the country by users. Miso, which means “smile” in Korean, has handled more than 5 million bookings since its founding in 2015. Of those, almost 90% have come from repeat customers, the Seoul-based company says. Top startup investors including Silicon Valley incubator Y Combinator and Los Angeles-based Strong Ventures have backed Miso, which has raised over $11 million to date. After years of steady growth in South Korea’s home cleaning market, cofounder and CEO Ching is taking Miso to the next stage. He’s aiming to replicate Miso’s success with the 70 other … [Read more...] about Korean House Cleaning App Miso Wants To Become The Amazon Of Home Services
toss Viva Republica, operator of internet-only Toss Bank, announced Thursday it received 300 billion won ($230 million) in investments this month. The investors include California-based venture capital firm Altos Ventures and the state-run Korea Development Bank. They invested 100 billion won each. Kwangju Bank and Mirae Asset Securities also pitched in, along with an undisclosed number of other investors. Viva Republica said it is scheduled to receive another round of investments that could total 400 billion won in August. The company said its corporate value was evaluated at 8.5 trillion won when the investment decision was made. Its corporate value was 8.2 trillion won in June, according to Viva Republica. On the same day, Viva Republica said it signed a stock sale contract to acquire a 100 percent stake of Merchant Korea, a mobile virtual network operator that deals with budget phone plans. The acquisition is planned to facilitate in allowing its app users to open a … [Read more...] about Viva Republica receives ￦300B in investments this month
Share to Twitter Share to Linkedin The Covid-19 pandemic and the related fundamental shift in how people live and work have led many individuals to seek purposeful careers . According to a 2021 Gartner study , the Great Resignation saw 56% of American employees want to contribute more to society as a consequence of the Covid-19 pandemic. LinkedIn's LNKD 2022 Global Green Skills Report has found that as climate change begins to have adverse effects around the world and countries look to mitigate its impacts, more people are starting to acquire new skills and pursue ventures that equip them for careers in tomorrow's green economy . A recent McKinsey report mentioned that businesses are also actively looking to position themselves and advance their long-term commercial interests in the green economy, with increasing venture capital investments flowing into cleantech and zero-emissions technologies. Despite the growing interest in … [Read more...] about This New Talent Marketplace Aims To Better Connect Workers With Climate Careers
RBI Governor Shaktikanta Das. (File photo) Dear Reader , A day before the monetary policy announcement, the yield on the 10-year bond fell sharply on a media report that the MPC would signal a pause after Friday’s hike. Thankfully, the MPC held firm, refusing to oblige the bond markets. Not only did it increase the repo rate by 50 basis points, but also the MPC signalled more rate hikes in future by refusing to tone down its ‘withdrawal of accommodation’ stance. Much is being made of the fact that the policy rate is now at the pre-pandemic level. At 5.4 percent, the repo rate is now back to where it was in September 2019. But that is no big deal. GDP growth was a measly 3.7 percent in 2019-20 compared to RBI’s projection of 7.2 percent in 2022-23; retail inflation was a much lower 4.8 percent in 2019-20, compared to a projected 6.7 percent for 2022-23; the current account deficit was a comfortable 0.9 percent of GDP in 2019-20 as against projections of around 3 percent … [Read more...] about Moneycontrol Pro Weekender | Shaktikanta Das refuses to pivot
Quek's Hong Leong Bank stake seen as attractive despite premium valuation - A + A Tan Sri Quek Leng Chan (Photo by Bloomberg) KUALA LUMPUR (Aug 10): Hong Leong Bank Bhd chairman Tan Sri Quek Leng Chan's reported attempt to pare down his controlling stake in the bank may not be an easy task, given the size of his shareholding and the premium valuation, whose share price is hovering near the historic high of RM21.20 it reached in May. Hong Leong Bank, with a market capitalisation of RM45.26 billion, is a screaming buy among analysts tracking the banking stock because of its attractive return-on-equity (ROE) and asset quality. There is not a single sell call on Hong Leong Bank. Nonetheless, this raises the question whether its rivals will pay a premium for it? Quek controls 62% of Hong Leong Bank via Hong Leong Financial Group Bhd (HLFG), which is way above the 10% limit that any individual is allowed to hold in a financial institution, according to the … [Read more...] about Hong Leong Bank seen as attractive but are there any buyers?
If you're serious about bringing your ideas for products to market, you should absolutely attend trade shows. They're always eye-opening. The only way to truly understand the mechanics of any industry is by attending its trade shows. One guarantee? You'll be overwhelmed. I've attended all kinds of shows over the course of my career as a product developer , including toys, back-to-school, pet, housewares, hardware, electronic, promotional, music, and more. Checking out the latest innovations and making new friends at a trade show never fails to inspire me. But I've also wasted a lot of time attending the wrong shows and not having clearly defined goals. When you're starting out, it's especially important that you make good decisions. Your resources are limited! Preparation is key. At trade shows, I meet inventors who have spent years and tens of thousands of dollars getting ready to show their product to the world. They've paid for a booth and now today's the big … [Read more...] about What Inventors Need to Know About Trade Shows
Property giant Federal Land Inc. has its origins as a hobby of the late business magnate and Metrobank group founder George S.K. Ty. Five decades later, the builder is betting its future on a sprawling partnership with Nomura Real Estate (NRE) Development Co. Ltd., one of Japan’s top developers, to bring Japanese technology and aesthetics to the Philippine property market. The two real estate powerhouses teamed up to form Federal Land NRE Global Inc. (FNG), the vehicle that would develop a series of townships across the country, including a 100-hectare Japanese “smart city” in Cavite and a mixed-use project along Manila Bay. Federal Land chair Alfred Ty said on Tuesday investments could reach roughly $2 billion in less than a decade. Other local developers have expanded into townships, which typically refer to masterplanned communities offering a combination of residential, commercial and office projects, but Ty said FNG would go beyond this model. “FNG is looking at offering … [Read more...] about Federal Land, Nomura to build ‘smart’ Japanese townships
Peter Bergen is CNN's national security analyst, a vice president at New America and a professor of practice at Arizona State University. Bergen's new paperback is "The Rise and fall of Osama bin Laden." from which this article is, in part, adapted. The views expressed in this commentary are his own. View more opinion on CNN. (CNN) In 1961, after a CIA-backed invasion of Cuba failed spectacularly, President John F. Kennedy said of the Bay of Pigs fiasco, "Victory has 100 fathers and defeat is an orphan." Peter Bergen Last week, President Joe Biden took a victory lap when he announced that the US had tracked down and killed its most wanted terrorist, al Qaeda leader Ayman al-Zawahiri, who was living in a house in Kabul, Afghanistan. Don't expect a similar celebration on August 30, the first anniversary of the US troop withdrawal from Afghanistan, which ended the longest war in American history. Any realistic assessment of that action shows that it … [Read more...] about Opinion: Biden’s Afghanistan exit decision looks even worse a year later