- Sunstone Hotel Investors Reports Results For First Quarter 2020
- White Mountains Reports First Quarter Results
- AAM Reports First Quarter 2020 Financial Results
- Premier Financial Bancorp, Inc. Reports First Quarter 2020 Earnings
- Amyris, Inc. Reports First Quarter 2020 Results
- Grand Slam in the DMS Mid-level Segment - Decisive Nominations Won
- Grand Slam in the DMS Mid-level Segment - Decisive Nominations Won
- U.S. Postal Service Reports Second Quarter Fiscal 2020 Results
- Integrated Ventures's Releases Preliminary Results For Q3/2020 Featuring 50% Revenue Growth And 87% Reduction In Operational Exp
- Converge Technology Solutions Announces Date for First Quarter 2020 Financial Results Conference Call
- AgriBank Reports First Quarter 2020 Financial Results
- Equinox Gold Annual General Meeting, Corporate Update and First Quarter 2020 Financial Results
- Equinox Gold Annual General Meeting, Corporate Update and First Quarter 2020 Financial Results
- Ascent Resources Utica Holdings Reports First Quarter 2020 Operating Results And Announces Revised 2020 Guidance
- Biglari Holdings Inc. News Release
- Chicago Rivet & Machine Co. Announces First Quarter Results of Operations
- Neenah Reports First Quarter 2020 Results
- Ur-Energy Releases 2020 Q1 Results
- Ur-Energy Releases 2020 Q1 Results
- Ritchie Bros. reports first quarter 2020 results
Farmers in Ukraine are forced to dig up land mines by hand to save their livelihoods: "I don"t have any other choice"
A Ukrainian farmer told CNN that he has been using a metal detector to find and dig up land mines so that he can prepare his farm for planting season. A farmer ploughs a field in Ukraine on January 10, 2023.Pierre Crom/Getty Images Ukrainian farmers face a hard choice: another year without income or clearing land mines themselves. CNN spoke to one farmer who has been removing unexploded munitions by hand. Around a third of Ukraine is contaminated by land mines. It could take years to clear them all. Farmers in Ukraine face a difficult choice: going another year without income, or take the matter of clearing land mines into their own hands — quite literally.Around a third of Ukraine is currently contaminated by unexploded munitions, CNN reported, including vast stretches of farmland.While operations to remove mines are underway, it's a challenging and lengthy process, leading to some desperate solutions.Oleksandr Havriluk, a 69-year-old farmer, returned to his farm in eastern Ukraine after it had been occupied and wrecked by Russian troops.Last year's wheat harvest was ruined by the war, denying him an income, and Havriluk faced another year without a livelihood because of the land mines contaminating his fields.As a result, Havriluk told CNN that he started digging up land mines by hand, so that he can prepare the fields for planting season, which starts in early April, in the hope that he can resume business."I was afraid, but I have to sow," he said.So far Havriluk has removed around 20 mines, using a metal detector he purchased, per CNN.The process involves taking a stick, tapping it in the ground to determine the size of the munition, and then gently digging it up and lifting it out.Havriluk knows the work is dangerous, but he's continuing regardless.He told CNN: "I don't have any other choice."The risk is very real. In recent months, several farm workers have been injured or killed working in their fields, with one 65-year-old man dying in southern Ukraine after stepping on a land mine, CNN reported, citing local officials.Mairi Cunningham, who runs the HALO Trust demining task force in Ukraine, told CNN that the organization — the world's largest in mine clearance operations — has employed 700 staff in the country and plans to double that number by the end of the year.But because one day of war generally equals several months of clearance work, it could take years to clear the country of unexploded munitions.The situation is further complicated by how spread out across Ukraine the land mines are, the wide variety of unexploded munitions, and the fact that clearance operations cannot take place on the front lines of the conflict, per CNN."The scale of the problem, it's not for one organization, it's a national effort," Cunningham said, per CNN.Even so, Cunningham said that non-professionals, such as farmers, removing anti-tank mines themselves is extremely dangerous."There's often anti-lift devices designed specifically to kill and injure people who try to do that," she said.Read the original article on Business Insider.....»»
First Republic stock rises 25% to lead regional bank stocks higher after SVB finds a buyer
First Republic Bank led a pack of US regional bank stocks, which rose on news that failed Silicon Valley Bank has finally found a buyer. First Republic Bank's HQ in San Francisco.Justin Sullivan/Getty Images First Republic and other bank stocks jumped in Monday's premarket on news that SVB has a buyer. First Citizens Bank has agreed to buy much of Silicon Valley Bank's assets, the FDIC said. The rebound in regional bank stocks reflect easing investor fears around a possible banking crisis. First Republic Bank shares rose as much as 29% in premarket trading Monday after news that collapsed Silicon Valley Bank has finally found a buyer after a two-week search.First Citizens Bank has agreed to purchase a big chunk of SVB's assets and will take on all of its deposits and loans, the FDIC said late Sunday. The agency has been seeking a buyer since seizing the California-based lender over two weeks ago.Shares of First Republic Bank were up about 27% at $15.70 at 7:33 a.m. ET Monday, after rising almost 30%. Embattled FRB itself secured a $30 billion rescue package from larger rivals last week, and its shares are down nearly 90% this year so far.San Francisco-based First Citizens Bank & Trust Co. has agreed to acquire about $72 billion of assets at a discount of $16.5 billion from Silicon Valley Bridge Bank, which was set up by the FDIC to protect the failed SVB's customer deposits. The FDIC will hold onto another $90 billion in assets.The move has further helped settle jitters about the health of the banking sector after the collapse of SVB and the forced takeover of Credit Suisse by UBS."Helping to repair sentiment towards the sector was the news that First Citizens Bank is to buy $72 billion of Silicon Valley Bank assets at a discount of $16.5 billion. Together with HSBC's purchase of SVB's UK operations and UBS' takeover of Credit Suisse, investors will be hoping for some stability from now on in the broader sector," Russ Mould, investment director at AJ Bell, said in a note.First Republic's gains led a pack of US regional bank stocks higher, after they were hit hard by the banking turmoil that rippled through the market this past month. PacWest added 12%, Western Alliance Bancorp rose 7%, and Zions Bancorp was up 5% in Monday's premarket at last check.SVB was shut down and taken over by regulators on March 10 after a historic bank run on its deposits that sent shockwaves through the US banking system. The uptick in regional bank stocks now reflect an easing in investor fears of further banking turmoil.Read the original article on Business Insider.....»»
OpenAI"s Sam Altman says his "hero" Elon Musk is "obviously attacking" the company on Twitter
Elon Musk, an OpenAI cofounder who since severed ties, has made a series of digs at the company in recent months. OpenAI CEO Sam Altman and Elon Musk.Getty OpenAI CEO Sam Altman said Elon Musk is "obviously attacking" his company on Twitter. Altman said he understood some of the billionaire's concerns about AI safety. Musk has made a series of public digs at OpenAI in recent months. OpenAI CEO Sam Altman acknowledged Elon Musk's recent criticisms about his company on Twitter. Speaking on an episode of Lex Fridman's podcast, released on March 25, Altman said: "Elon is obviously attacking us some on Twitter right now on a few different vectors."Musk, an OpenAI cofounder who has since severed ties with the company, has made a series of digs at OpenAI in recent months. The billionaire accused the previously non-profit organization of becoming a "maximum profit company" amid its partnership with Microsoft. The tech giant has invested more than $10 billion into OpenAI.Musk has also taken aim at the company's viral chatbot, ChatGP – raising concerns about its seemingly inflexible responses. He also described the technology as "scary good" on Twitter and said that "we are not far from dangerously strong AI."Speaking on the podcast, Altman said that he understands Musk's reservations about artificial general intelligence (AGI) – AI systems that are capable of thinking and learning intellectual tasks like a human. Experts have expressed concern over the technology saying these systems could lead to "catastrophic outcomes" if they behave in unexpected ways or become difficult to control. "I believe he is, understandably so, really stressed about AGI safety," Altman said, describing Musk as one of his heroes. But he wished that Musk would do more to acknowledge the work that OpenAI is doing to resolve these concerns. OpenAI has encouraged conversations about governing these systems and says it is gathering feedback from the public to shape its tech.Representatives for Musk and Altman did not immediately respond to Insider's request for comment, made outside normal working hours.OpenAI's ChatGPT has also been criticized by some users who claim the bot generates answers with political biases. Musk has routinely pointed out these instances on Twitter.Addressing this criticism, Altman said on the podcast: "I think it was too biased — and will always be. There will be no one version of GPT that the world ever agrees is unbiased.""We will try to get the default version to be as neutral as possible, but as neutral as possible is not that neutral if you have to do it for more than one person," he continued.Read the original article on Business Insider.....»»
First Citizens just bought Silicon Valley Bank – here"s everything you need to know about the latest twist in the banking turmoil
First Citizens Bank agreed to buy SVB on Sunday, taking over 17 branches and paying $72 billion for the collapsed lender's assets. First Citizens BancShares agreed to take over collapsed lender Silicon Valley Bank on Sunday.Getty Images First Citizens Bank agreed to buy most of Silicon Valley Bank on Sunday. The Raleigh, NC-based bank now owns 17 branches of SVB and paid $72 billion for the California lender's assets. Here's everything you need to know about the latest twist in the US's regional banking turmoil. Silicon Valley Bank's US operations have finally been taken over – 16 days after the Santa Clara-based lender spectacularly collapsed.First Citizens Bank has agreed to buy SVB, according to a statement released on Sunday by the Federal Deposit Insurance Corporation.Here's everything you need to know about the takeover, what it means for the ongoing global banking turmoil, and how markets are reacting to the news.What happened?SVB's share price plunged 86% in a two-day span earlier this month after it disclosed massive losses on its bond portfolio, fueling a bank run that saw high-profile customers like Peter Thiel's Founders Fund pull their money.Its US operation was then taken over by the FDIC, a government-run body that insures Americans' deposits, on March 10 – and over two weeks later, it has found a buyer for the bank.First Citizens is paying $72 billion to buy a big chunk of SVB's assets at a $16.5 billion discount, while the FDIC will hold onto about $90 billion worth of securities and other assets.The FDIC estimated that SVB's failure had cost it around $20 billion in total, although it said it will give a more exact amount when it terminates its receivership of the bank. It'll also receive benefits tied to First Citizens' share price, which it estimated could be worth around $500 million.What is First Citizens?It's a Raleigh, North Carolina-based lender that brands itself as the US's biggest family-run bank and was the country's 30th-largest by assets at the end of last year, according to Federal Reserve data.Some observers have questioned whether First Citizens is big enough to be able to take over the second-largest bank to ever collapse in the US – but it's no stranger to taking over failed rivals.First Citizens has bought more than 20 other banks since the 2008 financial crisis, according to data from Bloomberg. Its latest purchase was financial services firm CIT Group, for which it paid $2 billion in January.The bank outbid rival Valley National Bancorp, which had also been in the running to buy SVB, according to a Bloomberg article published Saturday that cited people familiar with the matter.How does this affect SVB customers?The 17 former branches of the California-based bank will be controlled by First Citizens as of Monday, according to the FDIC's statement.Anyone who still had money deposited with SVB will see those funds automatically transferred over to First Citizens, the government-controlled organization said.SVB mainly catered to venture capital-backed tech startups rather than individual customers – and they'll now be banking with First Citizens unless they switch their account to another lender.The customers will still have deposits worth up to $250,000 insured by the FDIC as per normal limits, it said in its statement.Will this end the banking crisis?Investors will be breathing sighs of relief Monday and hoping that First Citizens' takeover of SVB will help to provide some much-needed stability for the embattled banking sector.As a reminder, the industry saw a string of shocking bank failures this month - from SVB, Signature and Silvergate Capital in the US to the 167-year-old Credit Suisse in Europe - after the past year's surge in interest rates hurt valuations of financial assets including bonds, stocks and cryptocurrencies.By offloading SVB, the FDIC can now provide greater support to other regional US banks that are struggling, like San Francisco-based First Republic.But Sunday's deal doesn't mean the factors that fueled the California lender's collapse – including rising borrowing costs cratering asset valuations – won't cause further banking stress."Shunting parts of the failed bank off to a new owner to may give the regulator more capacity to deal with problems still threatening to pop up elsewhere, particularly with US regional banks," Hargreaves Lansdown's head of money and markets Susannah Streeter said."The big worry is that they are sitting on big piles of unrealized losses, not just in their bond portfolios, but on other assets which have been battered by the storm of high interest rates," she added.How are markets reacting?Early reaction to First Citizens' takeover of SVB has been cautious but positive.S&P 500 futures edged up 0.5% ahead of Monday's open, while Nasdaq 100 futures rose 0.3% and the Dow Jones Industrial Average was on pace to add over 150 points at the opening bell.Many US bank stocks also surged in early-morning trading. Embattled First Republic led all stocks with a 30% jump in premarket trading, while First Citizens itself rallied 20% on news of its deal with the FDIC.Meanwhile, Frankfurt-listed Deutsche Bank – which rocked European markets Friday when its share price plunged after a spike in its credit default swaps – climbed 3% Monday to erase most of its losses from the previous trading session."Many investors still don't want to touch the banking sector for fears there is more distress to come," AJ Bell investment director Russ Mould said."Yet for every bleak situation there is always someone who sees an opportunity to make money, hence why we're seeing a rise in the share price of many European banks today," he added.Read the original article on Business Insider.....»»
City Furniture CEO: Commitment to natural gas fleet paid for itself in under two years
Andrew Koenig is in his 17th year at City Furniture and became CEO over a year ago......»»
Guest column by attorney Alexa Elder with Wyatt: How Gonzalez v. Google could reshape the internet
Guest column by Alexa Elder, associate with Wyatt, Tarrant & Combs — on the broader implications of Gonzalez v. Google, which the U.S. Supreme Court is currently considering. The outcome could dramatically reshape the basic structure of the modern internet......»»
South Florida real estate projects in the pipeline for the week of March 24
This week's real estate news......»»
Burger King moves forward on commitment to electric vehicles
Miami-based Burger King is making the move to electric. The franchise has transitioned 31% of its North American field team fleet to electric vehicles (EVs) across 16 states. The company's goal is 100% EVs by 2030. This move is the next step in delivering on the goals set by Restaurant Brands International Inc. (NYSE: QSR), Burger King's parent company; it wants to reduce greenhouse gas emissions from 2019 baseline 50% by 2030. Burger King worked with Element Fleet Management to source the….....»»
The Boss: For industry exec Damon Whiteside, music is in his blood
Academy of Country Music CEO Damon Whiteside always knew he wanted to be in the music business. His first job was at a record store when he was 15, giving him an early look at how the industry worked......»»
Domestic violence app Bright Sky launches in the U.S.
An international app platform that looks to offer support and resources to those experiencing domestic violence has launched in the U.S. following efforts made by the Women's Center & Shelter of Greater Pittsburgh and other local organizations. Now available to download for iOS and Android devices or via its website, the Bright Sky platform is a free service that connects domestic violence victims to educational and response-based tools. Its launch in the U.S. is the result of collaboration between….....»»
Leasing Tracker: Brickell office tower 93% leased after drawing 3 new tenants; Fitness chain to open gym in mixed-use project
This week's leasing & emerging markets news......»»
Will Clorox’s vitamin business become an even more bitter pill?
Clorox’s ailing foray into vitamins and supplements could be coming to an end as it looks to reportedly sell the business that it entered in 2016. The Oakland company has been working for several months with Goldman Sachs to try to sell the business but so far has not received an acceptable offer, Reuters reported Friday, citing four unidentified people familiar with the situation. The vitamin, mineral and supplements,— or VMS — business, which accounts for just 3% of Clorox sales, has been….....»»
Rivian could break ground on Georgia factory late this year
Electric vehicle startup Rivian Automotive Inc. said it expects to break ground on its $5 billion factory in Social Circle late this year or early in 2024......»»
What"s next for Charlotte fintech startup Infinant after closing $5M in funding
Charlotte fintech startup Infinant recently secured $5 million in financing to help it launch its platform designed for banks, according to a U.S. Securities and Exchange Commission filing. Infinant, founded in 2021, provides the technology framework and tools for banks to embed fintech into their own applications and insert banking into partner applications. Its platform approach enables financial institutions to offer products and services inside and outside the bank. The company says in a news….....»»
: RH stock price target cut to $245 from $335 at Wedbush
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Hertz CFO Kenny Cheung to leave company after 2 1/2 years in the role
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Energy Transfer to buy Lotus Midstream in a deal valued at $1.45 bln
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
Millennials - The "Buy Now, Pay Later" Generation
Millennials - The "Buy Now, Pay Later" Generation According to the Statista Consumer Insights, U.S. Millennials stand out as the "buy now, pay later" generation, with 56 percent of those born between 1980 and 1994 saying they used online schemes that allow for the interest-free payment of goods and services in several installments. You will find more infographics at Statista As seen in data by the Statista Brand Profiler, Paypal was the most used "buy now, pay later" service among the generation, followed by Afterpay, Klarna and Affirm. In comparison, just 36 percent of Gen X (born between 1965 and 1979) and 49 percent of Gen Z (born after 1995) said they used such services. Participation was lowest among Baby Boomers (born 1946-1964) at just 26 percent. While certain payment plans with standard timelines are usually free of interest when using BNPL, postponing payments can incur extra costs. Here, 14 percent of Millennials in the survey said this had happened to them in the past 12 months. This is compared to 11 percent of Gen Z, 8 percent of Gen X and 5 percent of Baby Boomers. Tyler Durden Mon, 03/27/2023 - 05:45.....»»
Hedge Fund CIO: In Times Like These, Markets Push Prices To The Point Of Maximum Policymaker Pain
Hedge Fund CIO: In Times Like These, Markets Push Prices To The Point Of Maximum Policymaker Pain By Eric Peters, CIO of One River Asset Management “I have not considered or discussed anything having to do with blanket insurance or guarantees of all deposits,” answered Janet Yellen, when asked on Wednesday whether Treasury would circumvent Congress to insure all deposits. Naturally, this accelerated the bank run, as rational economic actors moved their money. “Certainly, we would be prepared to take additional actions if warranted,” said Yellen on Thursday, attempting to reverse Wednesday’s damage. And this made it more likely that additional action will become warranted. Because in times like these, markets sniff out weakness, and push prices to the point of maximum pain. Policymaker panic. “In such an environment, our ultimate goal is clear: we must – and we will – bring down inflation to our medium-term target in a timely manner,” declared Christine Lagarde, determined, schooled in the importance of conveying confidence during times of crisis. “In current conditions, a robust strategy calls for a data-dependent approach to making policy and a clear reaction function so that the public understands the sources of information that will be important to us,” continued the ECB President. “To that end, our future policy path will be determined by three factors; (1) our assessment of the inflation outlook in light of the incoming economic and financial data, (2) the dynamics of underlying inflation, and (3) the strength of monetary policy transmission,” explained Lagarde. It all sounded great to just about everyone, except investors, and especially traders. Because (1) a central bank’s inflation outlook in times of great economic uncertainty is profoundly unreliable, (2) the dynamics of underlying inflation are wildly unstable when inflation is this high, and (3) monetary policy transmission in a highly indebted hyper-financialized global economy can appear too weak one day and precipitate a bank run the next. “At the same time, I have made clear that there is no trade-off between price stability and financial stability. We have plenty of tools to provide liquidity support to the financial system if needed and to preserve the smooth transmission of monetary policy,” said Lagarde, presumably hoping that if she said it with great certainty, we would all forget the lessons of decades of trading and a century of financial history. You see, central banks do not have the power to determine how monetary policy is transmitted. Markets decide. And there is always a trade-off that central banks must make between price stability and financial stability. To deny this is to invite markets to press our policy makers to the point where they must choose one or the other. Tyler Durden Mon, 03/27/2023 - 06:30.....»»
Alibaba Shares Jump As Jack Ma Makes Rare Appearance In China
Alibaba Shares Jump As Jack Ma Makes Rare Appearance In China Jack Ma, Alibaba Group Holding's founder, returned to China after spending a year abroad and visited a school he established in 2017. The billionaire experienced a multi-year rift with Beijing following his criticism of regulators in 2020. This news prompted a jump in Alibaba's shares trading in Hong Kong. According to South China Morning Post, Ma met with teachers and students at Hangzhou Yungu School. He discussed the future of education in the era of artificial intelligence. "We must use AI to solve problems, not to be controlled by AI," Ma said. He also said: "ChatGPT and similar technologies are just the beginning of the AI era. We should use artificial intelligence to solve problems instead of being controlled by it." Since late 2020, Ma has maintained a discreet presence after criticizing Chinese regulators for halting the planned IPO of Alibaba's affiliate, Ant Group. The billionaire has spent most of the last year in Japan. He recently celebrated Lunar New Year in Hong Kong and traveled to Singapore and Australia. Shortly after the SCMP's report, Alibaba's shares that trade in Hong Kong jumped 4% but gave up most gains late in the session. Shares in New York are flat in premarket trading. And while Beijing is attempting to restore a business-friendly image after a multi-year crackdown on technology companies, Bloomberg noted Chinese authorities made attempts to persuade Ma to stay and help repair the image of the business community. However, the media outlet said Ma has decided to focus on agriculture technology research. The good news: "Jack Ma showing up in Hangzhou after more than a year away from China should be positive for market sentiment," said Vey- Sern Ling, managing director at Union Bancaire Privee. What this appearance also means is that Ma does not perceive a risk of arrest or, even worse, vanishing. It could also suggest further regulatory normalization for tech companies. Tyler Durden Mon, 03/27/2023 - 06:55.....»»
Banking Crisis Is How It Starts, Recession Is How It Ends
Banking Crisis Is How It Starts, Recession Is How It Ends Authored by Lance Roberts via RealInvestmentAdvice.com, As the Fed tightens monetary policy, a banking crisis is historically the first evidence that something is breaking. As noted recently in “Not QE,” Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The FDIC, the Treasury, and the Fed issued a Bank Term Lending Program with a $25 billion loan backstop to protect uninsured depositors from the Silicon Valley Bank failure. An orchestrated $30 billion uninsured deposit by eleven major banks into First Republic Bank followed. I suggest those deposits would not occur without Federal Reserve and Treasury assurances. Banks quickly tapped the program, as shown by the $152 billion surge in borrowings from the Federal Reserve. It is the most significant borrowing in one week since the depths of the Financial Crisis.” Since last week, that number has surged to almost $300 billion. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) Since then, UBS entered into a “shotgun marriage” with Credit Suisse, and the Federal Reserve reopened its dollar swap lines to provide liquidity to foreign banks. The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced on March 19 “a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.” To improve the swap lines’ effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily. These daily operations began on March 20 and will continue at least through the end of April. Historically, once the Fed opens dollar swap lines, further monetary accommodations follow from rate cuts to “quantitative easing” and other liquidity operations. Of course, such is always in response to a banking crisis, credit-related event, recession, or a combination. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) While the “pavlovian response” to a reversal of monetary tightening is to buy risk assets, investors may want to take some caution as recessions tend to follow a banking crisis. Banking Crisis Cause Recessions An obvious consequence of a banking crisis is a tightening of lending standards. Given the “lifeblood” of the economy is credit, both consumer and business, the tightening of lending standards reduces that economic flow. Not surprisingly, when banks tighten lending standards on loans to small, medium, and large firms, liquidity constriction ultimately results in a recessionary drag. Many businesses rely on lines of credit or other facilities to bridge the gap between manufacturing a product or service and collecting revenue. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) For example, my investment advisory business provides services to clients for a fee of which we collect one-fourth of the annual fee during each quarterly billing cycle. However, we must meet payroll, rent, and all other expenses daily or weekly. When unexpected expenses arise, we may need to tap a line of credit until the next billing cycle. Such is the case for many firms where there is a delay between the sale of a product or service and the billing cycle and collection. If lines of credit are withdrawn, businesses must lay off workers, cut expenses, and take other necessary actions. The economic drag intensifies as consumers cut spending, further impacting businesses due to reduced demand. This cycle repeats until the economy slips into a recession. Currently, liquidity is getting extracted across all forms of credit, from mortgages to auto loans to consumer credit. The current banking crisis is likely the first warning sign of a worsening economic situation. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) The last time we saw lending standards contract this much was during the pandemic-driven economic shutdown. Many investors hope a Fed “pivot” to loosen monetary policy to combat recession risks will be bullish for equities. Those hopes may be disappointed as recessions initially cause “repricing risk.” Recessions Cause Repricing Risk As noted, the bullish expectation is that when the Fed makes a “policy pivot,” such will end the bear market. While that expectation is not wrong, it may not occur as quickly as the bulls expect. When the Fed historically cuts interest rates, such is not the end of equity “bear markets,” but rather the beginning. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) Notably, most “bear markets” occur AFTER the Fed’s “policy pivot.” The reason is that the policy pivot comes with the recognition that something has broken either economically (aka “recession”) or financially (aka “credit event”). When that event occurs, and the Fed initially takes action, the market reprices for lower economic and earnings growth rates. Forward estimates for earnings remain elevated well above the long-term growth trend. During recessions or other financial or economic events, earnings regularly revert below the long-term growth trend. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) A better way to understand this is by looking at the long-term exponential growth trend of earnings. Historically, earnings grow roughly 6 percent from one peak earnings cycle to the next. Deviations above the long-term exponential growth trend are corrected during the economic downturn. That 6 percent peak-to-peak growth rate is derived from the roughly 6 percent annual economic growth. As we showed just recently, and of no surprise, the yearly earnings change is highly correlated to economic growth. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) Given that earnings are a function of economic activity, current estimates into year-end are unsustainable if the economy contracts. That deviation above the long-term growth trend is unsustainable in a recessionary environment. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) Therefore, given that earnings are a function of economic activity, valuations are an assumption of future earnings. Therefore, asset prices must reprice lower for earnings risk, particularly during a banking crisis. RealInvestmentAdvice.com (St. Louis Federal Reserve/Refinitiv) There are two certainties facing investors. The Fed’s rate hikes started a banking crisis that will end in a recession as lending contracts. Such will force the Fed to eventually cut rates and restart the next “Quantitative Easing” program. As noted, the first cut in rates will be the recognition of the recession. The last rate cut will be the one to buy. Tyler Durden Mon, 03/27/2023 - 07:20.....»»
Bond Report: U.S. bond yields rise as easing bank tensions reduce haven demand
A calmer tone across markets as tensions over the banking sector fade is reducing demand for perceived haven assets, such as government bonds......»»
Peter Morici: U.S. Supreme Court should allow federal judges, not state courts, to police congressional gerrymandering
In Moore v. Harper, the Supreme Court is deliberating whether a federal standard should apply to all states when drawing U.S. congressional district boundaries......»»
Dow Jones Newswires: Novartis shares jump after positive result from breast-cancer drug trial
The Phase 3 trial, named Natalee, was stopped early as the primary endpoint has been met, Novartis said......»»
Need to Know: There’s another looming cliff — the end of the student-loan repayment moratorium
There's another worry on the horizon: the looming end of the student loan repayment moratorium......»»
: McDonald’s Israel shuts branches, as workers join general strike against judicial reforms
McDonald’s is joining the general strike launched by trade union group Histadrut on Monday, which is planning to bring the economy to a halt in protest of Prime Minister Benjamin Netanyahu’s planned judicial reforms......»»
: First Republic stock up 24% as First Citizens deal for Silicon Valley Bank lifts banks
FDIC announces purchase of Silicon Valley Bank by First Citizens, while First Republic stock rises on reports of more U.S. support for banks......»»
Futures Movers: Oil prices buoyed by optimism around banks
Oil futures move higher early Monday, attempting to build on last week's bounce......»»
Movers & Shakers: First Citizens shares leap on SVB deal as Novartis stock boosted by breast-cancer drug trial
Here are some of the most active stocks in premarket trade, as U.S. stock index futures were boosted on improving news from the banking sector......»»
: Five Below downgraded to hold from buy at R5 Capital
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Conmed upgraded to overweight from sector weight at KeyBanc Capital
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Booking stock price target raised to $2,850 from $2,400 at Ascendiant Capital
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Roku upgraded to positive from neutral at Susquehanna
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: JPMorgan Chase stock climbs 1.7% to pace the Dow’s premarket gainers
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Blackbaud stock soars 16% premarket after Clearlake discloses large stake, buyout proposal
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Pinnacle Financial Partners stock price target cut to $75.00 from $93.50 at Hovde Group
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: Crestwood Equity Partners stock price target cut to $28 from $35 at Truist
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: BioNTech Q4 EPS EUR9.26 vs. EUR12.18 a year ago; FactSet EPS consensus EUR7.78
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
: CORRECT: BioNTech Q4 revenue down 23% to EUR4.28 bln, above the FactSet consensus EUR3.65 bln
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news......»»
EU Smart Contract Regulations Included in Council’s Data Act Draft
Some worry the text, a version of which was already agreed on by the European Parliament, will prove impossible to meet for most smart contracts......»»
FTX Bankruptcy Estate Consolidates Arbitrum Airdrop Tokens Into Single Wallet
A wallet controlled by the FTX bankruptcy estate has received tranches of the Arbitrum airdrop from several wallets linked to Alameda Research, on-chain data shows......»»
Elon Musk Isn"t Dating GM"s Mary Barra: He Has This To Say Though On The Photos
Tesla Inc CEO Elon Musk responded to artificial intelligence-generated pictures of him and General Motors Company CEO Mary Barra “dating.” read more.....»»
S&P 500 Records Weekly Gain, Market Volatility Increases
The S&P 500 settled the volatile session on a higher note amid recent concerns over the stability of the banking industry. Deutsche Bank AG (NYSE: DB) shares fell over 3% on Friday after the price of the bank's credit default swaps increased, raising concerns about the bank's health. read more.....»»
Nominate your organization for the Chicago Tribune’s 2023 Top Workplaces
The Chicago Tribune is seeking nominations for our 14th annual Top Workplaces special reportThe Chicago Tribune is seeking nominations for our 14th annual Top Workplaces special report.....»»
: Silvergate Capital shares jump as SVB deal news lifts banking shares on Monday
Shares of Silvergate Capital Corp. SI climbed 18% in premarket trading on Monday, in step with a rise for most banking shares following news that failed Silicon Valley Bank has found a buyer. Silvergate Capital is in the process of winding down operations at its subsidiary, Silvergate Bank, a crypto-friendly institution that got caught up in losses and troubles for the cryptocurrency market in recent months. That news has has wiped 90% of the value off Silvergate Capital. The Federal Deposit Insurance Corp. announced earlier on Monday that First Citizens BancShares Inc. FCNCA has entered a deal to assume all loans and deposits of Silicon Valley Bridge Bank, which was created by the FDIC following the closure of Silicon Valley Bank. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»
: Citi upgrades M&T Bank and KeyCorp to buy on ‘appealing’ risk/reward
Citi on Monday upgraded shares of M&T Bank Corp. MTB and KeyCorp. KEY to buy as offering an attractive risk/reward after an analysis of bank balance sheets. KeyCorp. offers the largest benefit from repricing of fixed assets, which will help its profits in 2024 and 2025, Citi analyst Keith Horowitz said. M&T Bank ranks as a “high-quality play and we see excellent value” for a bank with peer-leading returns and the strongest capital position, he said. Shares of KeyCorp rose 7% in premarket trades, while M&T Bank is up about 3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»
: Blackbaud stock shoots up after Clearlake discloses buyout bid for 23% premium
Shares of Blackbaud Inc. BLKB shot up 14.1% toward a 13-month high in premarket trading, after its largest shareholder Clearlake Capital Group L.P. disclosed a bid to buy all the outstanding Blackbaud shares for $71 each, a 22.8% premium to Friday’s closing price of $57.83. The per-share bid would value the provider of software for the philanthropic community at about $3.78 billion. Clearlake also disclosed that it owned 9.75 million Blackbaud shares, or 18.3% of the shares outstanding. Clearlake plans to hold talks with Blackbaud regarding terms of the proposed buyout. Back in October, Blackbaud had adopted a shareholder rights plan, or “poison pill,” to reduce the likelihood that any entity acquires a more-than 20% stake in the company. Blackbaud’s stock has lost 1.8% year to date through Friday, while the S&P 500 SPX has gained 3.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»
: Elliott backs down on plan to nominate rival Salesforce board candidates
Elliott Investment Management no longer intends to nominate a rival slate of directors to Salesforce Inc.’s CRM board, according to a new statement Monday. “In light of the company’s previously announced ‘New Day’ multi-year profitable growth framework, strong fiscal year 2023 results, fiscal year 2024 transformation initiatives, board and management actions and clear focus on value creation, Elliott decided not to proceed with director nominations, and Salesforce and Elliott have committed to continue the productive working relationship they have developed together,” Elliott and Salesforce said in a Monday morning joint release. Salesforce attracted attention from numerous activists earlier this year, though the software giant has since made profitability more of a focus. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»
: BioNTech stock falls as earnings beat expectations, but show falling demand for COVID-19 vaccines
The U.S.-listed shares of BioNTech SE BNTX fell 2.7% in premarket expectations, as profit and revenue beat expectations but fell from a year ago due to lower demand for COVID-19 vaccines, and indicated demand would fall further. Net income fell to EUR2.28 billion ($2.45 billion), or EUR9.26 a share, from EUR#.17 billion, or EUR12.18 a share, in the year-ago period. The FactSet consensus for earnings per share was EUR7.78. Revenue fell 22.7% to EUR4.28 billion ($4.61 billion), above the FactSet consensus of EUR3.65 billion. For 2023, the company, which developed its COVID-19 vaccine with U.S. partner Pfizer Inc. PFE, expects 2023 COVID-19 vaccine revenue of about EUR5 billion. The stock has tumbled 19.8% over the past three months through Friday, while Pfizer shares have dropped 21.0% and the S&P 500 SPX has gained 3.7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»
US Expert Panel To Meet To Determine Which Adverse Events COVID-19 Vaccines Cause
US Expert Panel To Meet To Determine Which Adverse Events COVID-19 Vaccines Cause Authored by Zachary Stieber via The Epoch Times (emphasis ours), A group of U.S. experts is set to meet soon as part of a project to determine which adverse events the COVID-19 vaccines cause. A person receives a COVID-19 vaccine in New York City on Oct. 21, 2021. (Michael M. Santiago/Getty Images) The National Academies of Sciences, Engineering, and Medicine (NASEM) has appointed a committee to review evidence on the relationship between the vaccines and specific adverse events that have occurred after vaccination, including infertility and sudden death. The committee’s process includes establishing methods, reviewing literature, drawing conclusions, and preparing a report. “The committee will make conclusions about the causal association between vaccines and specific adverse events,” the NASEM website states. While their work is funded by the U.S. Centers for Disease Control (CDC) and the U.S. Department of Health and Human Services (HHS), the sponsors will not be able to examine the report before it is published to the public, Kathleen Stratton, a NASEM official, said during a recent meeting. “What that means is that if a sponsor doesn’t like what the committee has to say—the conclusions of the committee—… the sponsor can’t prevent the report from being made public,” Stratton said. “This is a very powerful tool that we have.” Dr. Tom Shimabukuro, a CDC official, told panel members recently that the CDC would help members locate studies and data from the agency. “We very much value your expertise and your independence. We look forward to working with you, look forward to seeing the results of your findings,” he said. The upcoming meeting will be held on March 27 and March 31, the latter of which will include time for public comments. The rest of the two-day meeting will be held behind closed doors. The panel already met on Jan. 25 and Feb. 1. “Your conclusions will help inform injury compensation recommendations and decisions when assessing whether specific adverse events are causally associated with vaccines,” Dr. George Reed Grimes, the official in charge of the HHS Division of Injury Compensation Programs, told panel members during the meeting. The report is slated to be published in March 2024. Specific Issues HHS officials directed NASEM to convene the ad hoc committee to review “the epidemiological, clinical, and biological evidence” in assessing whether the vaccines cause certain conditions. The adverse events include conditions that officials already say are caused by one or more of the vaccines, including myocarditis, a type of heart inflammation caused by all four of the vaccines available in the United States, and thrombosis with thrombocytopenia syndrome, an often-fatal condition caused by the Johnson & Johnson vaccine. The other specific events are: Bell’s Palsy Capillary leak syndrome Chronic headaches Chronic inflammatory demyelinating polyneuropathy Guillain-Barrè Syndrome Hearing loss Infertility Shoulder injuries Sudden death Thromboembolic events like pulmonary embolism Tinnitus Transverse myelitis A NASEM panel last produced a vaccine adverse event report in 2012. The report ran nearly 900 pages. Read more here... Tyler Durden Mon, 03/27/2023 - 05:00.....»»
Next Avenue: The Social Security Earnings Test is costing working older adults millions of dollars, this economist says
An economist and Social Security expert says the earnings test cons beneficiaries under age 67 into thinking they will lose benefits if they earn too much working......»»
Kelley Blue Book: The all-new BMW i7: This futuristic, luxury electric sedan is a thrill to drive
The first all-electric 7 Series has the luxury and technology you’d expect from a flagship luxury sedan and up to 318 miles of range. Pricing starts at $119,300.....»»
Kelley Blue Book: Americans are warming up to electric cars, but still divided over them
Americans are split roughly into thirds on acceptance of EVs, a recent poll has found......»»
NerdWallet: A few lessons that recent bank failures can teach you about your own finances
Bank execs ignored risky concentration, bought fixed-income investments with low interest rates, and made a flawed assumption. Don't make the same mistakes......»»
NerdWallet: Rent doesn’t have to be a four-letter word for retirees. Here’s when some experts say renting can be a smart move.
Financial planners say renting can make more sense than owning in some circumstances, even for retirees who can afford to buy a home. Here's why......»»
: German business sentiment improves in March, but banking turmoil could take effect in ‘coming months,’ says analysts
Sentiment in the German business sector has improved as the country’s leading indicator increased for the sixth month in a row, but analysts say the latest financial fall out will catch up to the real economy in the “coming months.".....»»
Bond Report: Bond yields rise as easing bank tensions reduce haven demand
A calmer tone across markets as tensions over the banking sector fade was reducing demand for perceived haven assets, such as government bonds......»»
Telecommunication and data center products face shipment delays while optical communication takes the lead
Browave Corporation ('Browave'), which specializes in optical communications, announced that its net profit after tax stood at NT$451 million in 2022, achieving annual growth of 453.1%. However, as its clients from the telecommunication industry adjusted their inventory and the demand for data centers weakened, Browave's outlook for 2023 has grown cautious. Given that its clients have merely delayed shipment, instead of canceling their orders, it is expected that the first and second quarters will be roughly in line with the performance of 2022 or even improve slightly. The second half of 2023 is expected to be better, in which Browave's gross margin could show a flattened trend. As for the new factory in the Philippines, mass production will start in the fourth quarter. From 2024 onward, it is expected to drive up the revenue......»»
IC Design White Paper - Discussing strengths and weaknesses of Taiwan"s IC design sector
The strengths of Taiwan's IC design sector include excellent and dedicated STEM talent, a complete semiconductor industry ecosystem from upstream to downstream, and a well-developed downstream ICT (information and communications technology) industry to act as the outlet for ICs......»»
Generative AI creating strong "waves"; could a market monopoly be forming?
During her visit to Taiwan, Stanford University's AI expert Fei-Fei Li was invited by Taiwan's National Science and Technology Council (NSTC) to give a speech and chat with industry representatives. She mentioned that the trend of generative AI has created a "tsunami-like" impact. Different industries are all participating in the discussion to prevent the AI ecosystem from becoming a monopolized market......»»
Taiwanese, Korean chipmakers feel the heat of US capacity expansion ban against China
The US has unveiled tight restrictions on chipmakers' capacity expansions in China, increasing the risks for companies that already have sizable operations in the Asian country......»»
India roundup: Pegatron reportedly to open second plant in India
Apple contract manufacturers continue expanding their investments in India, while CMR said that Samsung is still the largest mobile phone exporter in India......»»
OpenAI applies for ChatGPT-4 trademark in China
Although OpenAI's ChatGPT has not launched in China, its China-based subsidiary tried to register the trademark of its generative AI service ChatGPT, potentially eyeing the Chinese market......»»
India reportedly to relax investment requirement for PC manufacturing
Amid the lukewarm response from global PC manufacturers to invest in India, the South Asian country is reportedly looking to relax its incentive scheme to capitalize on a diversification of the PC manufacturing ecosystem rarely seen in decades......»»
Technology leaders not taking sides in G2 tension by visiting China
Despite an escalating technology standoff between the US and China, top executives of multinational corporations are visiting China, showing their commitment to the East Asian country......»»
US lags behind EU, Asia in promoting hydrogen-powered ICE vehicles to achieve carbon-neutrality
Electrification and decarbonization will not be achieved without electrifying long-haul fleets and other types of transportation such as rail, marine and aviation. As lithium batteries might not satisfy the range and power needs of heavy-duty transport, several OEMs are planning for series production of hydrogen-powered internal combustion engines (H2ICE) targeting as early as 2023-2025, according to principal investigator and senior R&D engineer at Sandia National Laboratories Ales Srna......»»
AMD"s AI strategy to drive OSAT sales in China and Taiwan
As Nvidia founder Jensen Huang observed the "iPhone moment for AI", AMD has also strengthened its role in artificial intelligence (AI). The GPU/CPU provider has reportedly set up a business unit dedicated to AI, reflecting AMD CEO Lisa Su's remark that AI will be "the most important thing of the next 10 years.".....»»
Development of advanced lithography technology (I): extension of the existing equipment path
Lithography technology is a mainstream means used by the semiconductor industry to define fine patterns. At present, the most advanced technology is EUV (extreme ultraviolet), and the latest mass production equipment is ASML's TWINSCAN NXE: 3600D. The light source used is 13.5nm EUV light produced by carbon dioxide laser hitting the tin (Sn) plasma. The numerical aperture (NA) is 0.33, which is inversely proportional to the resolution or critical dimension (CD); the larger the NA, the better the lithography performance. Its resolution is 13nm, and its throughput reaches 160 wafers per hour. The model supports mass production of 7nm and 5nm processes......»»
Development of advanced lithography technology (II): Nano imprint lithography (NIL) and directed self-assembly (DSA)
Apart from purely optical methods, there are other ways that can be used to define fine semiconductor patterns......»»
China seeks to replicate its 5G success story in the 6G era
In order to gain an early advantage in 6G development, China's Future Mobile Communications Forum and Purple Mountain Lab held the 2023 Global 6G Technology Conference in Nanjing on March 23, focusing on finding a coherent direction before 6G technological standards are set into stone. Technologies covered in the forum included 6G core technology, application scenarios, etc......»»
Central Glass to supply sodium-ion battery materials to Chinese factories with mass production starting in 2024
Central Glass, a Japanese materials manufacturer, is set to begin mass production of sodium-ion battery electrolytes in 2024. The primary material utilized in sodium-ion batteries is sodium. Many companies have attempted to mass produce sodium-ion batteries because the supply of sodium is more stable and less costly than lithium. Sodium-ion batteries are expected to replace lithium-ion batteries for the next generation of electric vehicles......»»
Novatek, Sitronix to hike DDI quotes by 10-15% in April
Taiwan's main display driver IC (DDI) suppliers, including Novatek Microelectronics and Sitronix Technology, are set to raise their quotes for some new offerings by 10-15% starting in April and will increase wafer starts with foundry partners, signaling a turnaround for the chip segment that was first and worst hit by the sluggish terminal market demand over the past year, according to industry sources......»»
IC Design White Paper - Improving Taiwan"s IC design talent policies
Talent is the most important competitive condition in the IC design sector. Due to the talent shortage, the government has already promoted many measures, including STEM-related talent training, the establishment of new semiconductor industry academies, the increase of overseas student admissions, and more. However, the talent issue is serious and urgent. Thus, the IC Design White Paper is putting out corresponding policy suggestions concerning the IC design talent issues......»»
What to expect as Japan lifts export restrictions on South Korea
The semiconductor supply chains of Samsung Electronics and SK Hynix are expected to return to normal, as Japan confirmed lifting export restrictions on three types of semiconductor materials to South Korea. The positive impact of the warming ties between Japan and South Korea on South Korean businesses has attracted attention from all sides......»»
IGBT will likely head to supply-demand balance in 3Q 2023, DIGITMES Research says
Power semiconductor devices remain in high demand as automotive IC shortages have generally been mitigated. According to DIGITIMES Research analyst David Ma, insulated-gate bipolar transistors (IGBT) will likely see supply and demand reach equilibrium in the third quarter of this year. Its production capacity will also grow significantly in the coming years......»»
B2B to be key revenue contributor of ChatGPT in the long term, says DIGITIMES Research
The fad for ChatGPT is driving up the growth of the generative AI market with figures from financial data company PitchBook showing that venture capitals in the US invested a total of US$2 billion in generative AI companies in 2022. DIGITIMES Research expects the B2B-type of businesses to be the key revenue contributors for ChatGPT-related products......»»
Arm to change license fee charging formula, heaping pressure on chipmakers
British silicon IP provider Arm reportedly has notified its major customers about a sharp adjustment in its future licensing fee collection mechanism starting 2024, when the fee will be calculated based on the value of each end product instead of the price of each system-on-chip (SoC) sold by chipmakers. The move is expected to heap operation pressure on designers of ICs, particularly handset APs, according to industry sources......»»
Notebook demand unlikely to see major recovery in 2Q23
Notebook ODMs continue to witness feeble orders from downstream clients for the second quarter, despite their original expectation of enjoying rising orders every quarter starting the first quarter in 2023, according to sources from the upstream supply chain......»»
BYD production cut denting car chip sales from Taiwan suppliers
Leading Chinese automaker BYD reportedly is enforcing production cuts in response to sluggish China market demand, casting clouds over the shipment prospects for automotive chips suppliers in Taiwan......»»
Huawei touts progress replacing chip design software led by US
Huawei Technologies Co. has developed software tools capable of designing chips as advanced as 14 nanometers, advancing efforts to help Chinese companies sidestep US sanctions and replace American technology......»»
CATL plans to start M3P battery mass production in 2023
World-leading battery maker CATL aims to begin the mass output of M3P batteries this year, according to the company's chairman Zeng Yuqun. Moreover, the company has also developed large-sized cylindrical batteries containing higher energy density than existing products in the market......»»
South Korea to surpass China in chip machine spending next year
South Korea is forecast to overtake China in spending on advanced chipmaking equipment next year in a sign of US export controls reshaping global supply chains for semiconductors......»»
VinFast provides EVs for Be, a local ride-hailing firm in Vietnam
Vietnamese electric vehicle (EV) manufacturer VinFast announced that it will be providing EVs and electric motorbikes to Be Group, making Be the first to deploy EVs in Vietnam's ride-hailing sector......»»
Geopolitical situation between US and China affects HPC market vibes
With the rise of OpenAI's ChatGPT and Baidu's Ernie Bot, the prospects of the high-performance computing (HPC) chip market look good. However, the HPC chip delivery situation has changed due to geopolitical influences. This has allowed Taiwan-based suppliers to find some potential business opportunities within the market......»»
IC Design White Paper - Taiwan"s IC design builds new armada
Taiwan's IC design sector is facing more and more internal and external challenges. Furthering the existing advantages as the second-largest IC design base in the world, and maintaining or even closing the gap with the leading US suppliers while also preventing Chinese suppliers from catching up have become new issues for the entire industry......»»
Founder of iPhone maker Foxconn to visit US to rev up Taiwan presidential bid
Terry Gou, the billionaire founder of Foxconn Technology Group, is embarking on a 12-day trip to the US, as the independent presidential hopeful seeks to convince voters of his ability to lead Taiwan and balance its business and security priorities......»»
Auto component makers eye price cuts on upstream chips
With Chinese automakers seeking to get low quotes from their auto component suppliers, the auto component makers reportedly have turned to request their suppliers of chips in oversupply to cut prices by 10-15% as automotive chips are starting to have mixed levels of shortages, according to sources from the related upstream supply chain......»»
How to Have Good Lighting in Every Room for Staging
Few things can catch someone’s attention when they enter a home as well as lighting. Proper lighting can set the mood and feel for the space. Bright, well-lit spaces feel different compared to dimly lit ones. Areas with lots of natural light will also have a different touch when compared to spaces with little natural… The post How to Have Good Lighting in Every Room for Staging appeared first on RISMedia......»»
CM Energy Revenue Doubled with Nearly Half from Renewable Business
HONG KONG, March 27, 2023 /PRNewswire/ -- CM Energy Tech Co., Ltd. ("Company", Stock Code 206.HK), a leading energy technology company, announced its 2022 audited financial results today: Revenue increased to USD 113 million or 98% growth compared to that in 2021. Net profit attributed to shareholders increased 180% to approx. USD 26 million for the same period. The revenue growth is mainly contributed by its renewable business sector, accounting for 43% of the total revenue. Due to the healthy cash flow, the Company also plans to declare dividends to its shareholders that subject to the approval of AGM. Despite the challenges and difficulties with the global pandemic, the Company achieved record high growth largely due to successful execution of its transitioning strategics implemented a ...Full story available on Benzinga.com.....»»
Investor Fear Increases Amid Recent Bank Concerns
The CNN Money Fear and Greed index showed some increase in the fear level among U.S. investors. US stocks closed higher on Friday following a volatile trading session. All the major indices recorded gains last week, with the Dow adding 0.4% and the S&P 500 gaining 1.4%. Deutsche Bank AG (NYSE: DB) shares came under pressure on Friday following a spike in credit default swaps amid persistent concerns regarding the stability of European banks. The US ...Full story available on Benzinga.com.....»»
Carnival, BioNTech And 3 Stocks To Watch Heading Into Monday
With US futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Carnival Corporation (NYSE: CCL) to post a quarterly loss at $0.61 per share on revenue of $4.33 billion before the opening bell. Carnival shares rose 0.7% to $9.29 in after-hours trading. Berkshire Grey, Inc. (NASDAQ: BGRY) entered into definitive merger agreement ...Full story available on Benzinga.com.....»»
Huize Holding Limited Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results
Huize Holding Limited Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results.....»»
Viomi Technology Co., Ltd Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results
Viomi Technology Co., Ltd Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results.....»»
10 Biggest Communication Services Stocks With High Insider Ownership
Peter Lynch, one of the most successful and well-known investors of all time, once said, “Insiders might sell their shares for any number of reasons, but they buy them for only one:they think the price will rise.” In general, a company with high insider ownership suggests the management’s confidence in the company and is a […] Peter Lynch, one of the most successful and well-known investors of all time, once said, “Insiders might sell their shares for any number of reasons, but they buy them for only one:they think the price will rise.” In general, a company with high insider ownership suggests the management’s confidence in the company and is a bullish sign. So, by following what insiders are doing, investors can get an idea of the company’s prospects. Let’s take a look at the 10 biggest communication services stocks with high insider ownership. 10 Biggest Communication Services Stocks With High Insider Ownership We have only considered communication services stocks with insider ownership of more than 30% for our list of the 10 biggest communication services stocks with high insider ownership. We have ranked the 10 biggest communication services stocks with high insider ownership on the basis of their market capitalization (as of March 23, 2023). Here are the 10 biggest communication services stocks with high insider ownership: if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2022 hedge fund letters, conferences and more Motorsport Games Founded in 2018, this company develops and makes available an esports ecosystem of official motorsport racing series. Its shares are up by over 84% year-to-date, bringing its one-year return to almost -64%. As of this writing, Motorsport Games Inc (NASDAQ:MSGM) shares are trading at above $7.60 with a 52-week range of $2.01 to $49.50, giving the company a market capitalization of more than $27.2 million. Allied Gaming & Entertainment Founded in 2017, it is an esports entertainment company that creates esports venues, as well as deals in live events for both video games and poker. Its shares are up by almost 11% year-to-date, bringing its one-year return to about -35%. As of this writing, Allied Gaming & Entertainment Inc (NASDAQ:AGAE) shares are trading at above $1.16 with a 52-week range of $0.88 to $1.94, giving the company a market capitalization of more than $45.7 million. FingerMotion Founded in 2014, FingerMotion offers mobile payments and recharge services in China. Its shares are down by over 49% year-to-date, bringing its one-year return to almost -47%. As of this writing, FingerMotion Inc (NASDAQ:FNGR) shares are trading at above $1.42 with a 52-week range of $0.62 to $9.795, giving the company a market capitalization of more than $66 million. Golden Matrix Group Founded in 2008, this company offers turnkey and white label gaming platforms, esports technology and gaming content. Its shares are down by almost 2% year-to-date, bringing its one-year return to almost -64%. As of this writing, Golden Matrix Group Inc (NASDAQ:GMGI) shares are trading at above $2.49 with a 52-week range of $1.89 to $7.2635, giving the company a market capitalization of more than $92 million. Liberty TripAdvisor Holdings Series B Founded in 2014, this company offers online advertising and commerce business through its subsidiaries. Its shares are down by over 6% year-to-date, bringing its one-year return to almost 56%. As of this writing, Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPB) shares are trading at above $23.40 with a 52-week range of $8.43 to $93.67, giving the company a market capitalization of more than $141 million. IDT Corporation Founded in 1990, it is a holding company that deals in the distribution and marketing of communications and payment services. Its shares are up by over 16% year-to-date, bringing its one-year return to almost -9%. As of this writing, IDT Corporation (NYSE:IDT) shares are trading at above $32.70 with a 52-week range of $21.68 to $36.03, giving the company a market capitalization of more than $872 million. Getty Images Holdings Founded in 1995, this company offers creative and editorial content solutions through its brands. Its shares are down by almost 28% year-to-date, bringing its one-year return to almost -60%. As of this writing, Getty Images Holdings Inc (NYSE:GETY) shares are trading at above $4 with a 52-week range of $3.42 to $37.88, giving the company a market capitalization of more than $1.4 billion. U.S. Cellular Founded in 1983, U.S. Cellular offers wireless telecommunication services. Its shares are down by almost 3% year-to-date, bringing its one-year return to about -33%. As of this writing, United States Cellular Corp (NYSE:USM) shares are trading at above $20.20 with a 52-week range of $19.22 to $32.65, giving the company a market capitalization of more than $1.7 billion. News Corp Founded in 1979, it is a media and information services company. Its shares are down by almost 12% year-to-date, bringing its one-year return to almost -29%. As of this writing, News Corp (NASDAQ:NWS) shares are trading at above $16.10 with a 52-week range of $15.15 to $23.37, giving the company a market capitalization of more than $9.3 billion. Fox Corp Founded in 2018, this company makes available news, sports and entertainment content. Its shares are up by over 8% year-to-date, bringing its one-year return to almost -18%. As of this writing, Fox Corp (NASDAQ:FOX) shares are trading at above $30.80 with a 52-week range of $26.35 to $38.29, giving the company a market capitalization of more than $17.3 billion......»»
An Amazon driver went viral on TikTok after delivering a package during a police standoff with an armed suspect
Video of the moment shows the driver calmly strolling past several police cars and handing the package to an officer. A video of an Amazon driver delivering a package to police officers went viral on TikTok.Patrick Fallon/Getty Images A video of an Amazon driver delivering a package during a police standoff went viral on TikTok. The video shows the driver calmly strolling past several police cars and handing the package to an officer. Amazon drivers have notoriously high delivery quotas, and the company has faced scrutiny for working conditions. A video of an Amazon driver delivering a package during an active police standoff has gone viral on TikTok, with viewers commending the driver's commitment to his job. A TikTok video with over six million views and 1.2 million likes, shows an Amazon driver nonchalantly walking towards a house in Cary, California, where several police cars are stationed, whilst officers look on in bewilderment. As he approaches the house, an officer stops him to take the package. The driver can then be seen taking a picture of the house as proof that the parcel has been delivered, per Amazon's policies. The person filming the video can be heard laughing and saying "Amazon hard at work in the middle of a standoff," and captioned the video: "When you're about your business… nothing will get in your way."Viewers were both awed and horrified by the driver's dedication to getting the package delivered with one user commenting: "More scared of Jeff Bezos than getting taken out."Another joked that Amazon's slogan is "rain, sleet, snow or standoff." One commenter added insight saying: "I used to work as an Amazon delivery driver. If you didn't deliver all your packages you'd get in trouble."The delivery took place as SWAT officers engaged in a 24-hour standoff with an armed suspect, the New York Post reported. The armed man had barricaded himself inside an apartment with his 11-year-old son, in an apparent hostage situation, according to ABC 11. The situation ended with the suspect dying by suicide. The boy sustained a gunshot wound but survived, and had some "minor" injuries on the arm and neck. Both of their identities have not been released. "I wanted to express my condolences to the family of the individual who was in crisis today," Cary police chief Terry Sult said. "Unfortunately, he took his own life." He added: "It's easy to focus on the loss today, but we should focus on the 11-year-old, and just be grateful that he is still with us and can return to his family."Working conditions for Amazon delivery drivers have come under intense scrutiny in recent years over claims they are given unrealistically high quotas for deliveries.Nine drivers for Amazon previously told Insider in 2018 that they frequently speed, ignore stop signs and skip meals to complete deliveries within the set nine-hour timeframe. The drivers also told Insider that workers often didn't even have time to go to the bathroom, and resorted to peeing in bottles, bags, or even outside to save time on the road."We always prioritize the safety of the drivers delivering our packages and we regularly communicate with them that if they don't feel safe, they shouldn't deliver the package and instead reach out for immediate support," an Amazon spokesperson told Insider."We've spoken with the driver involved to remind him his safety comes first and about the support available in situations like this."Read the original article on Business Insider.....»»
Credit Suisse"s top execs could face a probe over their role in the banking giant"s collapse, Swiss watchdog says
Credit Suisse was rescued by rival UBS last Sunday, bringing down the curtain on its 167-year history. Credit Suisse managers could be probed over their role in the bank's recent collapse, according to the president of Swiss regulator FINMA.Arnd Wiegmann/Reuters Credit Suisse execs could face a probe and disciplinary action, the head of its Swiss regulator has said. "We're not a criminal authority, but we are looking into the relevant possibilities," FINMA's Marlene Amstad said. The 167-year-old Swiss banking giant was rescued by its rival UBS in a deal orchestrated by authorities. Credit Suisse executives could be probed and disciplined over how they ran the bank in the run-up to its collapse and subsequent rescue by rival UBS, according to the president of Switzerland's financial regulator."We are not a criminal authority, but we are looking into the relevant possibilities," Marlene Amstad told local newspaper NZZ am Sonntag, when asked whether FINMA would hold Credit Suisse managers to account for the failure.Amstad's comments came one week after FINMA and the Swiss government brokered a deal for UBS to take over the 167-year-old Swiss bank for 3 billion francs ($3.3 billion).Credit Suisse's Zurich-listed shares plummeted 93% between the start of 2021 and last Sunday and currently trade at UBS's agreed takeover price of 0.76 francs ($0.83).The Swiss banking giant was implicated in several high-profile scandals over that period. It took massive losses from the collapse of its clients Archegos Capital Management and Greensill Capital in 2021, and it was fined $2 million for laundering cocaine cash for Bulgarian criminals last year."CS had a cultural problem that translated into a lack of accountability," Amstad said in the NZZ am Sonntag interview published Sunday. "Often it was not clear who was responsible for what.""This favored a negligent handling of risks," she added.FINMA's president defended the regulator's high-profile decision to mark down the value of Credit Suisse's Additional Tier 1 bonds to zero in the aftermath of the bank's collapse.AT1s are hybrid bonds that a bank can convert into shares if its financial health falls below a certain level. FINMA said last week it would write the value of Credit Suisse's AT1s down to zero, effectively wiping out assets worth 16 trillion Swiss francs ($17 billion) overnight. That sparked outrage among bondholders, some of whom say they are now considering legal action against the financial watchdog. But Amstad pointed out that the fine print in the bonds' contracts had granted FINMA the power to wipe them out in extraordinary circumstances."The AT1 instruments contractually provide that they will be fully written off in the case of a trigger event, in particular the granting of extraordinary government support," she said."The instruments were created precisely for such situations," Amstad added.Read more: Credit Suisse rescue: The biggest winners and losers from UBS's historic dealRead the original article on Business Insider.....»»
Gamers, cosplayers swarm the Seaport District for PAX East 2023
PAX East has hosted its convention in Boston since 2010, drawing gamers and cosplayers from across the East Coast......»»