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Showing posts from May, 2020

Silicon Valley is divided over Trump’s executive order to rein in social media

The tech industry reacted like much of America to President Trump’s executive order cracking down on social media companies—with deep division. “Our platforms have empowered a wide range of people and organizations from across the political spectrum, giving them a voice and new ways to reach their audiences,” Google said in a statement. It added that the order “would hurt America’s economy and its global leadership on Internet freedom.” However, Michael Moe, CEO of GSV Capital and a rare Trump supporter in Silicon Valley, sided with the President. He said Twitter, in which he was an early investor, shouldn’t fact-check politicians. “I don’t think Twitter should get in the business of being an umpire,” he argued. But Moe added that if social media companies choose to become more like publishers, which face higher scrutiny from regulators, then they should be regulated as such. “If it looks like a duck and quacks like a duck, it’s a duck,” he said. Trump’s executive order came a da...
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Long Odds: China’s bet on REITs draws skeptics

SHANGHAI/BEIJING -- China's plans to introduce real estate investment trusts (REITs) mark a crucial step to get private money to fund infrastructure such as toll roads and sewage systems, but authorities have their work cut out in creating a fully-fledged market. Read More from Financial Post https://ift.tt/2ZYz62n
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Asian shares set to sag on U.S.-China woes

NEW YORK -- Asian shares are likely to dip on Thursday after remarks by U.S. Secretary of State Mike Pompeo that Hong Kong no longer warranted special treatment under U.S. law reignited worries about worsening relations with Beijing. Read More from Financial Post https://ift.tt/2TJfcV5
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U.S. weighs options ‘across the spectrum’ to punish China over Hong Kong

WASHINGTON -- The Trump administration is crafting a range of options to punish China over its tightening grip on Hong Kong, including targeted sanctions, new tariffs and further restrictions on Chinese companies, according to U.S. officials and people familiar with the discussions. Read More from Financial Post https://ift.tt/3caCvgS
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Will Twitter ever remove one of Trump’s inflammatory tweets?

For the first time, Twitter has added a fact-check label to a tweet by President Donald Trump that claimed mail-in election ballots would be fraudulent. But it stopped short of removing those tweets or others he posted earlier this month about a false murder accusation that generated huge criticism against the company for failing to remove them. Those tweets, which, for average users, risk being deleted for violating Twitter’s policies against harassment raise the question: Will the company ever remove one of the President’s inflammatory tweets? “Trump is pushing the limits of what Twitter is going to allow,” said Steven Livingston, director of the Institute for Data, Democracy, and Politics at George Washington University. “At some point, it’s going to have to make decision that this exceeds what is allowed.” The controversy is over an unfounded claim by Trump that MSNBC news host and former Republican Rep. Joe Scarborough may have murdered his staffer Lori Klausutis in 2001. Klau...
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A clampdown on corporate tax avoidance is coming. Companies should embrace it

The importance of effective government in moments of crisis is being writ large. First, to save lives through state health care and measures to stop the spread of COVID-19. Second, to establish social safety nets for the most affected while intervening to keep companies and supply chains afloat. Globally we’ve seen an estimated $15 trillion in emergency stimulus, with more to come. Little wonder that around the world  trust in governments has surged .  As we eventually reopen and, hopefully, redesign our economies, significant spending will remain vital as governments invest to boost growth. The total costs will be massive. In the U.K., for instance, the forecasts already predict the national deficit could rise from 55 billion pounds to 337 billion pounds (around $67 billion to $410 billion) by the end of this year. Even the wealthiest nations will need to find serious cash—which means healthy tax bases.  Against sharply rising joblessness, increases to income tax and...
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S&P lowers ONGC credit profile to BBB+

S&P Global Ratings has lowered its assessment of state-run oil producer Oil and Natural Gas Corporation’s (ONGC’s) stand-alone credit profile to ‘BBB+’ from ‘A-’ due to lower oil and gas prices and disruption in demand for refined products, which is seen to weaken the company’s cash flow and leverage till FY22-end. from The Financial Express https://ift.tt/2WWhxOi
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Congress must loosen PPP loan restrictions to ensure America’s small businesses survive

Saving small Main Street businesses has rightfully been a priority for Congress since discussions that led to the CARES Act began in March. Since then, $660 billion has been allocated to aid small businesses as part of the Paycheck Protection Program (PPP), but the first $349 billion vanished quickly and was mired in problems , and nearly two-thirds of the $310 billion intended to replenish the funds has already been allocated. As Congress hammers out phase 4 of the COVID-19 relief package, lawmakers disagree over whether additional funding and focus should be allocated to aid small businesses.  The hard reality is that of the 6 million small businesses in the country eligible for this relief, only 1.6 million were able to get a piece of the first allocation of PPP funds, according to the Washington Post . Meanwhile, an estimated 4.2 million small businesses will seek aid over the course of the pandemic, which means the total sum of the program will need to be closer to $1 trill...
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Why every company must tackle mental health head-on

For many of us, this pandemic has transformed every aspect of our daily lives. We see it in the way we work—as our home also becomes our workplace and parents juggle kids and homework in between video calls. We feel it in the way we interact with friends and family—doing virtual celebrations and happy hours on Zoom. And we live it in our day-to-day—standing six feet apart in the grocery store with face masks securely on.  The common thread connecting all of these changes is the impact on our mental health and well-being. In the last few months, we’ve heard a lot from medical experts, business leaders, celebrities, and athletes on how to take care of our mind and body through this crisis. But, what does that really mean when the lines are blurred between home and work life?  The ability to work from home, once viewed as a perk, is now a double-edged sword. On one hand, there’s no commuting, and people are spending more time with family. However, the abrupt shift in work/life ...
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The Health of 7.8 Billion People Is Stuck in a Dangerous Place Between China and Trump

(Bloomberg) -- In mid-February, an international team of medical experts converged on Beijing to learn more about the novel coronavirus. Dispatched by the World Health Organization after delicate talks with the Chinese government about its composition and agenda, it included some of the brightest lights in epidemiology and virology, affiliated with institutions including the National Institutes of Health, the University of Hong Kong, and Germany's national infectious-disease center. They would be accompanied by a group of Chinese scientists, and would be responsible for producing a joint report on the nature of the virus and how it was spreading within the world's most populous country. Read More from Financial Post https://ift.tt/3gbs6EE
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Brazil ready to increase FX intervention but cautious on bond buying -central bank chief

BRASILIA -- Brazil stands ready to dip into its large pool of foreign exchange reserves and continue intervening in the currency market if needed, but any bond market intervention is likely to be far smaller in size, central bank President Roberto Campos Neto said on Wednesday. Read More from Financial Post https://ift.tt/3dZP2os
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Crude Oil Price Forecast – Crude Oil Markets Approach Major Gap

The crude oil markets have been rallying over the last couple of weeks as you know, but now face a monumental test as we are getting close to a major gap. from Yahoo Finance https://ift.tt/2zRWwLA
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Why Shopify Stock Will Roar To $1,000

E-commerce solutions provider Shopify (NYSE:SHOP) reported first-quarter earnings in early May which were strong enough to cause SHOP stock to pop 5% to all-time highs topping $700.Source: Jirapong Manustrong / Shutterstock.com But Shopify's blowout first-quarter earnings report will do much more than that.Indeed, it appears that Shopify is in the midst of a breakthrough moment wherein the company turns into the commerce backbone for every small-to-medium sized business (SMB) in the world over the next few years. Thanks to this pivotal transformation, Shopify stock appears well on its way toward $1,000-plus prices.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDoes that mean it's time to chase the rally? I don't think so. I'm not a big fan of chasing rallies. Inevitably, the Shopify growth narrative will run into a hiccup. When that hiccup happens, the stock will drop. Buy that dip.But it does certainly mean that every growth investor with a multi-yea...
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