Business analyst Business casual Business insurance Business intelligence Business marketing Global Business International business News Sales Management Small business Strategy Management

Shares drop on profit taking amid uncertainties

By Denise A. Valdez, Senior Reporter

PHILIPPINE SHARES declined on Thursday as investors secured profits amid declining global markets.

The 30-member Philippine Stock Exchange index (PSEi) erased 128.40 points or 2.01% to close at 6,249.39, while the broader all shares index cut 55.21 points or 1.45% to end at 3,753.08.

“Local shares saw one of its worst sell-offs in months amid rising COVID (coronavirus disease 2019) cases and jitters over the (US) election outcome,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.

More than 500,000 new coronavirus cases were recorded across the globe on Wednesday, with the majority coming from the United States (US), India, France, and other European countries.

This resulted in a second national lockdown declared in France and Germany, and the United Kingdom being expected to follow the same track.

The upcoming US election on Nov. 3 is also causing Read the rest

Business analyst Business casual Business insurance Business jobs Global Business International business News Strategy Management

The U.S. economy just grew at its fastest quarterly pace ever—but doubts loom about the rest of the year

The economy just experienced its fastest three months of growth in U.S. history.

In the third quarter, from July to September, GDP climbed 33.1% on an annualized basis, according to data released Thursday by the U.S. Bureau of Economic Analysis.

This historic climb follows the U.S. record 31.4% annualized GDP decline in the second quarter, and the 5% annualized decline in the first quarter. During that period economists around the world were in panic and questioning if the United States—as well as the rest of the world—were on the cusp of an economic depression. But once states began to ease lockdown restrictions in the summer, the U.S. economy sprung from deep contraction to high growth.

It’s the last major piece of economic data before Election Day, and President Trump was quick to celebrate the numbers.

Read the rest
Business analyst Business casual Business insurance Business intelligence Business marketing Global Business International business News Sales Management Small business Strategy Management

PHL stocks extend decline on increased selling

By Denise A. Valdez, Senior Reporter

THE MAIN INDEX continued to decline on Wednesday as selling pressure grew and overseas concerns over rising coronavirus cases loomed on the market.

The bellwether Philippine Stock Exchange index (PSEi) lost 37.29 points or 0.58% to close at 6,377.79. The broader all shares index also gave up 9.82 points or 0.25% to end at 3,808.29.

“More investors are now securing profits from the recent rally, which is giving investors who have not been able to ride the rally a chance to pick up shares at lower prices,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.

The PSEi is now on its second consecutive day of decline and has been down 113.4 points or 1.75% since its six-day rally ended.

Foreign investors have also returned to selling, ending five straight days of bullishness, after it posted P442.88 million worth of … Read the rest

Business analyst Business casual Business insurance Business jobs Global Business International business News Strategy Management

The perils of the fintech deal flurry

It was already a big deal when Visa agreed to acquire fintech startup Plaid for $5.3 billion in January—two times the company’s previous private market valuation. But the deal heralded something even larger, helping ignite a flurry of mega fintech deals: Intuit announced plans to acquire Credit Karma for $7.1 billion just a month later, while competitor Mastercard said it planned to acquire Finicity for nearly $1 billion in June.

Now the Department of Justice is scrutinizing all three deals, each involving a startup selling to an older and larger incumbent. In particular, the DoJ could soon decide whether it will sue to block Visa’s planned acquisition of Plaid, according to the Wall Street Journal—and it is also looking into the Finicity and Credit Karma deals. 

Plaid and Visa aren’t direct competitors—Visa focuses on payments while Plaid builds software that helps digitally connect consumers’ various bank and fintech … Read the rest

Business analyst Business casual Business insurance Business intelligence Business marketing Global Business International business News Sales Management Small business Strategy Management

Peso climbs on BoP surplus, vaccine news

THE PESO strengthened against the dollar on Tuesday as the country logged a balance of payments (BoP) surplus last month and on news that patients in the clinical trials of drug company AstraZeneca Plc showed a positive response to its coronavirus vaccines.

The local unit closed at P48.375 versus the dollar on Tuesday, rising by two centavos from its P48.395 finish on Monday, data from the Bankers Association of the Philippines showed.

The peso opened Tuesday’s session at P48.40 against the greenback. It reached a peak of P48.37 while its weakest showing was at P48.48 per dollar.

Dollars traded rose to $838.87 million on Tuesday from $671.25 million on Monday.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso rose after the Bangko Sentral ng Pilipinas (BSP) reported a BoP surplus in September.

“The peso was stronger after stronger BoP surplus data as the highest in four … Read the rest

Business analyst Business casual Business insurance Business jobs Global Business International business News Strategy Management

How one company is ‘pulling the plug’ on the ‘bathtub’ of climate change

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

If the Earth’s atmosphere is a bathtub, it’s getting close to full. The analogy is one that Steve Oldham, CEO of Carbon Engineering, uses to explain what he believes are the best strategies to fight climate change.

A bathtub, Oldham explains, can only hold so much water before it overflows—and it’s too late to turn off the faucets all the way. But if you slow the stream of water and, at the same time, open the bathtub’s drain, you can still stop the tub from reaching its limit.

“The bathtub is going to continue to fill,” Oldham said at the Fortune Global Forum on Monday. “If we had the ability to pull the plug at the same time as we turn down the taps, the water … Read the rest

Business analyst Business casual Business insurance Business intelligence Business marketing Global Business International business News Sales Management Small business Strategy Management

Stocks lose momentum as market pockets gains

By Denise A. Valdez, Senior Reporter

LOCAL SHARES started to lose momentum on Monday as investors began to pocket gains from the recent rally, resulting in flattish trading.

The Philippine Stock Exchange index (PSEi) inched up 7.13 points or 0.11% to close Monday’s session at 6,491.19. The wider all shares index fell 0.59 point or 0.01% to 3,859.36.

“We saw some profit taking in early trading; however, investors were quick to pick up issues that pulled back,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.

The PSEi opened at 6,496.19 and reached a low of 6,453.20 intraday. It started picking up during the last minutes of trading, peaking at 6,517.26 but eventually falling to close at 6,491.19.

“Philippine shares initially continued to struggle for direction. bouncing around the break-even line, as several uncertainties loomed large,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan Read the rest

Business analyst Business casual Business insurance Business jobs Global Business International business News Strategy Management

Chobani’s radical plan to take care of its hourly workers: Pay them more

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

For the first seven years after founding Chobani, CEO Hamdi Ulukaya rarely left his yogurt-making factory as he worked to get his business off the ground. “I saw the dedication, the work, the discipline, the human connections,” he says. “But I also saw the struggles.”

As the industry grew, Ulukaya also witnessed what he describes as a disconnect between the sector prospering but not all of its workers sharing in that success—especially those working the factory floor. “Society moves on the shoulders of people like that,” he tells Fortune.  

In an effort to bridge the gap Ulukaya sees between employee and company success in the business world, Chobani plans to increase its starting hourly wage to at least $15 an hour—more than double federal minimum … Read the rest

Business analyst Business casual Business insurance Business jobs Global Business International business News Strategy Management

A repeat of the 2016 polling error would see Biden win with a 342 electoral vote landslide

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

In 2016, Hillary Clinton went into Election Day leading Donald Trump in the RealClearPolitics poll average in Pennsylvania (+1.9 percentage points), Michigan (+3.4 points), and Wisconsin (+6.5 points). Trump would go on to win all three states by less than 1 percentage point—a polling error that shocked the world.

This time around, Democratic nominee Joe Biden also leads poll averages in Michigan (+8.1 points), Pennsylvania (+5.3 points), and Wisconsin (+4.6 points). But it doesn’t stop there. In all, Biden is leading in seven states Trump won four years ago, including Arizona (+2.4 points), Florida (+1.5 points), Iowa (+0.8 points), and North Carolina (+1.2 points). Trump holds narrow leads in Georgia (0.4 points), Ohio (0.6 points), and Texas (2.6 points).

But what’s the result if the polling … Read the rest

Business casual

Financial Enterprise Economy By Dimension Class Of Employment

Advertising and marketing outsourcing is a rising development in most corporations. Companies can hold hundreds of thousands of Kshs on their accounts. In case you’re enrolled in this security characteristic, we sent a notification to your registered gadget. Confirm your identification in the app now to sign in to Online Banking. It goes without saying that you will want to be proactively vetting the market of any potential locations. If your enterprise is flourishing and also you believe that your product is required elsewhere, then the world is your oyster. You will have to carry out a big quantity of market research to be sure that your product is definitely needed and needed slightly than simply considering that it might work. Relating to taking a huge step equivalent to worldwide enlargement, there cannot be room for doubt, you should be absolutely sure and assured in your choice. Usually, a thorough … Read the rest